Digital Brands Group Files Q3 2024 10-Q Amendment

TL;DR

DBGI filed amended Q3 financials - check for updates on stock, warrants, and preferred shares.

AI Summary

Digital Brands Group, Inc. filed an amended 10-Q on November 15, 2024, for the period ending September 30, 2024. The filing details financial information and disclosures for the third quarter of their fiscal year. Key financial instruments like common stock, warrants, and various series of preferred stock are listed, along with related party information.

Why It Matters

This amended filing provides updated financial details for Digital Brands Group's third quarter, crucial for investors assessing the company's performance and financial health.

Risk Assessment

Risk Level: medium — As a 10-Q/A filing, it indicates potential corrections or additions to previously reported financial information, which could signal underlying issues or complexities in the company's financial reporting.

Key Numbers

• Q3 — Quarter (Reporting period for the 10-Q filing)
• 2024-09-30 — Period End Date (The end date of the reporting period)
• 2024-11-15 — Filing Date (The date the amended filing was submitted)

Key Players & Entities

• Digital Brands Group, Inc. (company) — Filer of the 10-Q/A
• 2024-09-30 (date) — Conformed period of report
• 2024-11-15 (date) — Filing date
• DBGI:CommonStockParValue0.0001PerShareMember (financial_instrument) — Common stock details
• DBGI:WarrantsEachExercisableToPurchaseOneShareOfCommonStockMember (financial_instrument) — Warrants details
• us-gaap:RelatedPartyMember (financial_concept) — Indicates related party transactions or balances

FAQ

Key Financial Figures

• $0.0001 — ch registered Common Stock, par value $0.0001 per share DBGI The Nasdaq Stock Mar

Filing Documents

• form10-qa.htm (10-Q/A) — 1191KB
• ex31-1.htm (EX-31.1) — 18KB
• ex31-2.htm (EX-31.2) — 18KB
• ex32-1.htm (EX-32.1) — 9KB
• ex32-2.htm (EX-32.2) — 8KB
• 0001493152-24-046344.txt ( ) — 5819KB
• dbgi-20240930.xsd (EX-101.SCH) — 47KB
• dbgi-20240930_cal.xml (EX-101.CAL) — 61KB
• dbgi-20240930_def.xml (EX-101.DEF) — 218KB
• dbgi-20240930_lab.xml (EX-101.LAB) — 413KB
• dbgi-20240930_pre.xml (EX-101.PRE) — 319KB
• form10-qa_htm.xml (XML) — 727KB

— Item 1

Part I — Item 1. Note 12 (Subsequent Events) of the Notes to the Unaudited Condensed Consolidated Financial Statements

– Item 2

Part I – Item 2. "Management's Discussion and Analysis of Financial Condition and Results of Operations – Recent Developments"

– Item 6

Part II – Item 6. Exhibits Except as described above, no other changes have been made to the Original Form 10-Q, and Amendment No. 1 does not modify, amend or update in any way other information contained in the Original Form 10-Q. Amendment No. 1 does not reflect events that may have occurred subsequent to the filing date of the Original Form 10-Q. DIGITAL BRANDS GROUP, INC. FORM 10-Q TABLE OF CONTENTS Page CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS 3

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION 4 ITEM 1.

Financial Statements

Financial Statements 4 Condensed Consolidated Balance Sheets as of September 30, 2024 (Unaudited), and December 31, 2023 4 Unaudited Condensed Consolidated Statements of Operations for the Three and Nine Months Ended September 30, 2024 and 2023 5 Unaudited Condensed Consolidated Statements of Stockholders' Equity (Deficit) for the Three and Nine Months Ended September 30, 2024 and 2023 6 Unaudited Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2024 and 2023 7 Notes to Unaudited Condensed Consolidated Financial Statements 8 ITEM 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 20 ITEM 3

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 32 ITEM 4.

Controls and Procedures

Controls and Procedures 32

OTHER INFORMATION

PART II. OTHER INFORMATION 34 ITEM 1.

Legal Proceedings

Legal Proceedings 34 ITEM 1A.

Risk Factors

Risk Factors 35 ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 35 ITEM 3. Defaults upon Senior Securities 35 ITEM 4. Mine Safety Disclosures 35 ITEM 5. Other Information 35 ITEM 6. Exhibits 36

SIGNATURES

SIGNATURES 37 2 Table of Contents CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS Except for historical information, this Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), which involve risks and uncertainties. These forward-looking statements can be identified by the use of forward- looking terminology, including the terms "believe," "estimate," "project," "aim," "anticipate," "expect," "seek," "predict," "contemplate," "continue," "possible," "intend," "may," "plan," "forecast," "future," "might," "will," "could," would" or "should" or, in each case, their negative, or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts. They appear in a number of places throughout this Annual Report on Form 10-K and include statements regarding our intentions, beliefs or current expectations concerning, among other things, our results of operations, financial condition, liquidity, prospects, growth strategies, the industry in which we operate and potential acquisitions. We derive many of our forward- looking statements from our operating budgets and forecasts, which are based upon many detailed assumptions. While we believe that our assumptions are reasonable, we caution that it is very difficult to predict the impact of known factors, and, of course, it is impossible for us to anticipate all factors that could affect our actual results. All forward-looking statements are based upon information available to us on the date of this Quarterly Report on Form 10-Q. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. We caution you that forward- looking statements are not gu

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