Digital Ally to Discuss First Quarter Results, Status of Previously Announced Corporate Separation, and Individual Subsidiary Outlooks.
KANSAS CITY, May 12, 2023 (GLOBE NEWSWIRE) -- Digital Ally, Inc. (NASDAQ: DGLY) (the “Company”), today announced that it will host an investor conference call on Tuesday, May 16, 2023 at approximately 11:15 a.m. Eastern time. The Company is excited to discuss its First Quarter 2023 financial results, corporate and individual subsidiary outlook, and previously announced corporate separation.
Shareholders and other interested parties may participate in the conference call by dialing 888-886-7786 and entering conference ID #53623024 a few minutes before 11:15 a.m. Eastern on Tuesday, May 16, 2023.
The Company’s anticipated separation by way of a spin-off or alternative transaction will result in two focused and streamlined businesses that are both leaders in their respective industries and well-positioned for continued success:
- Digital Ally, Inc. will continue to be a leading and innovative provider of video solution technology for law enforcement agencies, commercial fleets, and situational event security solutions. Digital Ally will also continue to provide back-office services to a variety of healthcare organizations throughout the country through its revenue cycle management subsidiary.
- Kustom Entertainment, Inc. will be a premier multi-disciplinary entertainment company, anchored by a premier ticketing technology business poised to achieve substantial scaling opportunities, through its TicketSmarter, Inc. subsidiary, which offers unique primary and secondary ticketing products to the market. Additionally, Kustom Entertainment’s offerings will include a distinctive event marketing and production company, with numerous customization options for events, festivals, and concerts, through its Kustom 440, Inc., subsidiary.
The call will be led by Stanton E. Ross and Brody J. Green.
About Digital Ally
Digital Ally, Inc. (NASDAQ: DGLY) through its subsidiaries, is engaged in video solution technology, human & animal health protection products, healthcare revenue cycle management, ticket brokering and marketing, event production and jet chartering. Digital Ally continues to add organizations that demonstrate the common traits of positive earnings, growth potential, innovation, and organizational synergies.
For additional news and information please visit www.digitalally.com or follow Digital Ally Inc. social media channels here:
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Forward-Looking Statement
This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements include all statements that are not historical statements of fact and those regarding our intent, belief, or expectations, including, but not limited to: statements regarding Digital Ally’s and the ultimate separated company’s (“SpinCo”) portfolio composition and their relationship following the business separation; the anticipated timing, structure, benefits, and tax treatment of the separation; benefits and synergies of the separation; strategic and competitive advantages of each of Digital Ally and SpinCo; future financing plans and opportunities; and business strategies, prospects and projected operating and financial results. In addition, there is also no assurance that the separation will be completed, that Digital Ally’s Board of Directors will continue to pursue the separation (even if there are no impediments to completion), that Digital Ally will be able to separate its businesses or that the separation will be the most beneficial alternative considered or will achieve the planned tax-free treatment. We caution investors not to place undue reliance on any such forward-looking statements.
Words such as “anticipate(s),” “expect(s),” “intend(s),” “plan(s),” “believe(s),” “plan(s),” “may,” “will,” “would,” “could,” “should,” “seek(s),” and similar expressions, or the negative of these terms, are intended to identify such forward-looking statements. These statements are based on management’s current expectations and beliefs and are subject to a number of risks and uncertainties that could lead to actual results differing materially from those projected, forecasted or expected. Although we believe that the assumptions underlying the forward-looking statements are reasonable, we can give no assurance that our expectations will be attained.
Risks and uncertainties that could cause actual results to differ materially from our expectations include, but are not limited to: changes in global economic conditions (including inflationary pressures) and geopolitical risks, including macroeconomic fluctuations that may harm our business, results of operation and stock price; our ability to source components and raw materials from suppliers, including disruptions and delays in our supply chain or the supply chain of our vendors; demand for our products, which is variable and subject to factors beyond our control; governmental regulations and failure to comply with those regulations; fluctuations in the prices of our components and raw materials; loss of personnel or being able to hire and retain additional personnel needed to sustain and grow our business as planned; risks from environmental liabilities, costs, litigation and violations that could adversely affect our financial condition, results of operations, cash flows and reputation; risks associated with conducting a substantial portion of our business outside the U.S.; adverse impacts from intangible asset impairment charges; potential product liability or warranty claims; being unable to successfully develop and introduce new products, which would limit our ability to grow and maintain our competitive position and adversely affect our financial condition, results of operations and cash flow; significant competition in our markets; additional tax expenses or exposures that could affect our financial condition, results of operations and cash flows; the ability and willingness of Digital Ally and SpinCo to meet and/or perform their obligations under any contractual arrangements that are entered into among the parties in connection with the spin-off and any of their obligations to indemnify, defend and hold the other party harmless from and against various claims, litigation and liabilities; and the ability to achieve some or all the benefits that we expect to achieve from the spin-off.
Contact Information
Brody Green, President
Stanton Ross, CEO
Tom Heckman, CFO
Digital Ally, Inc.
913-814-7774
info@digitalallyinc.com
