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Kustom Entertainment, Inc., formerly Digital Ally, Inc., reports developments tied to its shift from video recording and safety technology toward live entertainment production, online ticketing and ticket brokering. Company news includes updates on the Kustom Entertainment business, Country Stampede Music Festival programming, ticketing initiatives, and the corporate name and ticker transition from Digital Ally to Kustom Entertainment.
Coverage also includes Digital Ally's legacy video solutions business, including in-car camera systems, evidence-management features, cloud-hosted video storage, and products for law enforcement, emergency management, fleet safety and event security. Recurring corporate updates address operating results, capital actions, Nasdaq compliance, subsidiary transactions, distribution agreements and public-company governance matters.
Digital Ally, Inc. (DGLY), a leader in advanced video recording products for law enforcement and safety, has successfully closed a public offering of 2,325,581 shares at $2.15 each, raising approximately $5.4 million. The offering included an over-allotment option of 213,953 shares. The funds will be allocated towards working capital, product development, and general corporate purposes. Aegis Capital Corp. served as the sole book-running manager for this offering, which was conducted under an effective SEC registration statement.
Digital Ally (NASDAQ: DGLY) has launched a new body camera subscription program to meet the growing demand for video evidence technology among law enforcement and first responders. The initiative aims to address funding challenges faced by many departments, offering flexible payment options, including packages that require no down payment. CEO Stan Ross emphasized the critical importance of body cameras for safety and accountability. The program will implement Digital Ally's FirstVu Body Camera and additional features like VuLink auto-activation technology.
Digital Ally, Inc. (DGLY) announced a public offering of 2,325,581 shares of common stock at $2.15 per share, aiming to raise approximately $5 million in gross proceeds. The funds will be allocated for working capital, product development, and order fulfillment. The offering is set to close on June 10, 2020, and includes a 45-day option for the underwriter to purchase an additional 213,953 shares. Aegis Capital Corp. is the sole book-running manager for this offering, which is under an effective shelf registration statement.
Digital Ally, Inc. (DGLY) announced the completion of a public offering of 3,090,909 shares at $1.65 each, generating approximately $5.1 million in gross proceeds. These funds will be utilized for working capital, product development, order fulfillment, and other corporate purposes. The underwriter, Aegis Capital Corp., has a 45-day option to acquire an additional 463,636 shares. This offering is part of an effective shelf registration statement previously filed with the SEC.
Digital Ally (NASDAQ: DGLY) has launched two product lines in response to heightened safety measures due to the Covid-19 pandemic. The ThermoVu™ is a non-contact thermometer that facilitates temperature screening and access control in public venues. It features facial recognition and immediate feedback on temperature readings. Additionally, the company introduced Shield™, an EPA Category IV disinfectant and sanitizer, safe for use without protective gear. Both innovations aim to meet public health needs while ensuring compliance with regulations.
Digital Ally (DGLY) announced a public offering of 3,090,909 shares priced at $1.65 each, aiming to raise approximately $5.1 million. The funds will be allocated for working capital, product development, and general corporate needs. An additional 463,636 shares may be purchased by the underwriter for over-allotments. Aegis Capital Corp. is the sole book-running manager, and the offering is expected to close on June 4, 2020. The offering is conducted under an effective shelf registration statement with the SEC.
Digital Ally (DGLY) has announced an underwritten public offering of its common stock. The company will provide the underwriter with a 45-day option to purchase an additional 15% of the offered shares. Proceeds from the offering are intended for working capital, product development, and general corporate purposes. This offering is subject to market conditions and follows a previously effective shelf registration. Aegis Capital Corp. is managing the offering.
Digital Ally, Inc. (DGLY) reported decreased total revenues of $2,425,745 for Q1 2020, down from $2,550,796 in Q1 2019, primarily due to an 8% decline in product revenues, impacted by Covid-19 and competitor actions. Service revenue increased 5%. The company launched a service model to offset hardware sales declines. It also faced delays in a significant contract for body cameras. SG&A expenses decreased 25% to $3,192,396. The net loss was ($2,334,110) or ($0.17) per share, an improvement from last year’s net loss of ($3,205,174).