Digital Ally Secures $1.5M Loan
Ticker: KUST · Form: 8-K · Filed: Sep 27, 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, adding debt but getting cash.
AI Summary
On September 26, 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 — The company is taking on new debt, which increases its financial leverage and repayment obligations.
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 26, 2024 (date) — Date of agreement
FAQ
What is the purpose of the $1.5 million loan?
The filing does not specify the exact purpose of the loan, but it represents a material definitive agreement and a direct financial obligation for Digital Ally, Inc.
Who is the lender for the $1.5 million loan?
The filing does not disclose the name of the lender for the $1.5 million loan.
What are the key terms of the $1.5 million loan agreement?
The filing indicates the entry into a loan agreement for $1.5 million, but specific terms such as interest rate, maturity date, or collateral are not detailed in this 8-K.
When was the loan agreement entered into?
The loan agreement was entered into on September 26, 2024.
What is the immediate financial impact of this loan on Digital Ally, Inc.?
The immediate impact is the creation of a direct financial obligation of $1.5 million for Digital Ally, Inc.
Filing Stats: 1,137 words · 5 min read · ~4 pages · Grade level 12 · Accepted 2024-09-27 16:15:18
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
- $2,000,000 — ") with a new principal amount of up to $2,000,000 (the "Principal Amount"). The Amended N
- $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
Filing Documents
- form8-k.htm (8-K) — 45KB
- ex10-1.htm (EX-10.1) — 40KB
- 0001493152-24-038531.txt ( ) — 264KB
- dgly-20240926.xsd (EX-101.SCH) — 3KB
- dgly-20240926_lab.xml (EX-101.LAB) — 33KB
- dgly-20240926_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 27, 2024 Digital Ally, Inc. By: /s/ Stanton E. Ross Name: Stanton E. Ross Title: Chairman and Chief Executive Officer