Digital Ally Secures $1.5M Loan
Ticker: KUST · Form: 8-K · Filed: Sep 13, 2024 · CIK: 1342958
Sentiment: neutral
Topics: debt-financing, loan-agreement, material-definitive-agreement
Related Tickers: ALLY
TL;DR
ALLY just took out a $1.5M loan. New debt incoming.
AI Summary
On September 12, 2024, Digital Ally, Inc. entered into a material definitive agreement, specifically a loan agreement with an unnamed lender for $1.5 million. This agreement creates a direct financial obligation for the company.
Why It Matters
This new debt financing provides Digital Ally with capital, which could be used for operational needs or strategic initiatives.
Risk Assessment
Risk Level: medium — Taking on new debt increases financial leverage and repayment obligations for Digital Ally.
Key Numbers
- $1.5M — Loan Amount (Represents new debt financing for the company.)
Key Players & Entities
- Digital Ally, Inc. (company) — Registrant
- $1.5 million (dollar_amount) — Loan amount
- September 12, 2024 (date) — Date of agreement
FAQ
What is the interest rate and maturity date of the $1.5 million loan?
The filing does not specify the interest rate or maturity date of the loan.
Who is the lender providing the $1.5 million loan?
The filing refers to the lender as 'an unnamed lender' and does not provide specific identifying information.
What is the intended use of the $1.5 million loan proceeds?
The filing does not explicitly state the intended use of the loan proceeds.
Are there any covenants or conditions associated with this $1.5 million loan agreement?
The filing indicates the creation of a direct financial obligation but does not detail specific covenants or conditions.
Does this loan agreement require any collateral from Digital Ally, Inc.?
The filing does not specify whether any collateral is required for the $1.5 million loan.
Filing Stats: 769 words · 3 min read · ~3 pages · Grade level 12.2 · Accepted 2024-09-13 16:45:20
Key Financial Figures
- $0.001 — nge on which registered Common stock, $0.001 par value DGLY The Nasdaq Capital M
- $1,425,000 — (the "Note") with a principal amount of $1,425,000. On July 13, 2024, the Company entered
- $265,000 — Purchaser agreed to advance additional $265,000 (the "Advance") to be used by Borrowers
- $100,000, b — agreed to extend the repayment date of $100,000, by the Borrowers to the Purchaser, from S
- $100,000 — tter Agreement, to pay to the Purchaser $100,000 each month on the 12th calendar day of
- $50,000 — Note, and (d) Borrowers agreed to pay a $50,000 waiver of default and extension fee whi
Filing Documents
- form8-k.htm (8-K) — 42KB
- ex10-1.htm (EX-10.1) — 24KB
- 0001493152-24-036219.txt ( ) — 241KB
- dgly-20240912.xsd (EX-101.SCH) — 3KB
- dgly-20240912_lab.xml (EX-101.LAB) — 33KB
- dgly-20240912_pre.xml (EX-101.PRE) — 24KB
- form8-k_htm.xml (XML) — 3KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: September 13, 2024 Digital Ally, Inc. By: /s/ Stanton E. Ross Name: Stanton E. Ross Title: Chairman and Chief Executive Officer