10-K Filing

DIGITAL ALLY, INC. CIK: 1342958 FY 2011

Filing Information

Form Type	10-K
Accession Number	`0001354488-12-001378`
Period End Date	20111231
Filing Date	20120328
Fiscal Year	2011
Fiscal Period	FY
XBRL Instance	dgly-20111231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 61 Income Statement 42 Cash Flow Statement 74 Stockholders Equity 20

Balance Sheet 61 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivable`	$110.00K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivable`	$125.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$623.48K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.27M	USD	Point-in-time
Accounts receivable-trade, less allowance for doubtful accounts of $125,000 - 2011 and $110,000 - 2010	`AccountsAndNotesReceivableNet`	$2.85M	USD	Point-in-time
Accounts receivable-trade, less allowance for doubtful accounts of $125,000 - 2011 and $110,000 - 2010	`AccountsAndNotesReceivableNet`	$4.78M	USD	Point-in-time
Accounts receivable-other	`AccountsAndOtherReceivablesNetCurrent`	$104.32K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable-other	`AccountsAndOtherReceivablesNetCurrent`	$345.71K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, authorized shares	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Common stock, authorized shares	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Inventories	`InventoryNet`	$6.68M	USD	Point-in-time
Inventories	`InventoryNet`	$10.09M	USD	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	16.66M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$302.32K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$341.58K	USD	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	16.65M	shares	Point-in-time
Treasury Stock, Shares	`TreasuryStockShares`	508,145.00	shares	Point-in-time
Treasury Stock, Shares	`TreasuryStockShares`	508,145.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$12.21M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$16.18M	USD	Point-in-time
Furniture, fixtures and equipment	`PropertyPlantAndEquipmentGross`	$3.35M	USD	Point-in-time
Furniture, fixtures and equipment	`PropertyPlantAndEquipmentGross`	$4.07M	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$3.21M	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$2.31M	USD	Point-in-time
Furniture, fixtures and equipment, Net	`PropertyPlantAndEquipmentNet`	$1.05M	USD	Point-in-time
Furniture, fixtures and equipment, Net	`PropertyPlantAndEquipmentNet`	$860.89K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$293.58K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$226.80K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$91.13K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$97.85K	USD	Point-in-time
Total assets	`Assets`	$13.40M	USD	Point-in-time
Total assets	`Assets`	$17.61M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.16M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$847.04K	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$1.50M	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	-	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesFairValueDisclosure`	$728.48K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesFairValueDisclosure`	$833.26K	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$25.62K	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$21.05K	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$2.64K	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$31.90K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.41M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.73M	USD	Point-in-time
Subordinated note payable-long term, net of discount of $142,711	`SubordinatedDebtCurrent`	$2.36M	USD	Point-in-time
Subordinated note payable-long term, net of discount of $142,711	`SubordinatedDebtCurrent`	-	USD	Point-in-time
Common stock, $0.001 par value; 75,000,000 shares authorized; shares issued: 16,662,218 - 2011 and 16,652,218 - 2010	`CommonStockValue`	$16.65K	USD	Point-in-time
Common stock, $0.001 par value; 75,000,000 shares authorized; shares issued: 16,662,218 - 2011 and 16,652,218 - 2010	`CommonStockValue`	$16.66K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$21.65M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$22.73M	USD	Point-in-time
Treasury stock, at cost (shares: 508,145 - 2011 and 508,145 - 2010)	`TreasuryStockValue`	$2.16M	USD	Point-in-time
Treasury stock, at cost (shares: 508,145 - 2011 and 508,145 - 2010)	`TreasuryStockValue`	$2.16M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-11.28M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-7.31M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$9.31M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$12.19M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$17.57M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$13.40M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$17.61M	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Product revenue	`SalesRevenueGoodsGross`	$24.58M	USD	Annual
Product revenue	`SalesRevenueGoodsGross`	$18.86M	USD	Annual
Other revenue	`OtherSalesRevenueNet`	$718.50K	USD	Annual
Other revenue	`OtherSalesRevenueNet`	$629.10K	USD	Annual
Total revenue	`Revenues`	$19.58M	USD	Annual
Total revenue	`Revenues`	$25.21M	USD	Annual
Cost of revenue	`CostOfRevenue`	$13.08M	USD	Annual
Cost of revenue	`CostOfRevenue`	$10.81M	USD	Annual
Gross profit	`GrossProfit`	$8.77M	USD	Annual
Gross profit	`GrossProfit`	$12.13M	USD	Annual
Research and development expense	`ResearchAndDevelopmentExpense`	$3.44M	USD	Annual
Research and development expense	`ResearchAndDevelopmentExpense`	$2.77M	USD	Annual
Selling, advertising and promotional expense	`MarketingExpense`	$2.23M	USD	Annual
Selling, advertising and promotional expense	`MarketingExpense`	$2.85M	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$1.76M	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$839.23K	USD	Annual
General and administrative expense	`GeneralAndAdministrativeExpense`	$6.55M	USD	Annual
General and administrative expense	`GeneralAndAdministrativeExpense`	$7.87M	USD	Annual
Total selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$12.40M	USD	Annual
Total selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$15.92M	USD	Annual
Operating loss	`OperatingIncomeLoss`	$3.79M	USD	Annual
Operating loss	`OperatingIncomeLoss`	$3.62M	USD	Annual
Interest income	`InvestmentIncomeInterest`	$-24.15K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$-16.11K	USD	Annual
Interest expense	`InterestExpense`	$-222.46K	USD	Annual
Interest expense	`InterestExpense`	$-24.86K	USD	Annual
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	Annual
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$131.09K	USD	Annual
Loss before income tax expense	`IncomeTaxExpenseBenefit`	$-3.79M	USD	Annual
Loss before income tax expense	`IncomeTaxExpenseBenefit`	$-3.96M	USD	Annual
Income tax expense	`IncomeTaxExpense`	$-2.75M	USD	Annual
Income tax expense	`IncomeTaxExpense`	-	USD	Annual
Net loss	`NetIncomeLoss`	$6.54M	USD	Annual
Net loss	`NetIncomeLoss`	$3.96M	USD	Annual
Basic	`EarningsPerShareBasic`	$-0.25	USD	Annual
Basic	`EarningsPerShareBasic`	$-0.40	USD	Annual
Diluted	`EarningsPerShareDiluted`	$-0.25	USD	Annual
Diluted	`EarningsPerShareDiluted`	$-0.40	USD	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	16.32M	shares	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	16.15M	shares	Annual
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	16.32M	shares	Annual
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	16.15M	shares	Annual

Cash Flow Statement 74 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$6.54M	USD	Annual
Net loss	`NetIncomeLoss`	$3.96M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$799.37K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$1.06M	USD	Annual
Stock based compensation	`ShareBasedCompensation`	$1.76M	USD	Annual
Stock based compensation	`ShareBasedCompensation`	$839.23K	USD	Annual
Provision for inventory obsolescence	`InventoryWriteDown`	$173.15K	USD	Annual
Provision for inventory obsolescence	`InventoryWriteDown`	$-186.40K	USD	Annual
Provision for doubtful accounts receivable	`ProvisionForDoubtfulAccounts`	-	USD	Annual
Provision for doubtful accounts receivable	`ProvisionForDoubtfulAccounts`	$15.00K	USD	Annual
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	Annual
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$131.09K	USD	Annual
Deficiency in tax benefit related to stock-based compensation	`AdjustmentToAdditionalPaidInCapitalIncomeTaxEffectFromShareBasedCompensationNet`	$-125.00K	USD	Annual
Deficiency in tax benefit related to stock-based compensation	`AdjustmentToAdditionalPaidInCapitalIncomeTaxEffectFromShareBasedCompensationNet`	-	USD	Annual
Deferred tax (benefit)	`DeferredIncomeTaxExpenseBenefit`	$2.85M	USD	Annual
Deferred tax (benefit)	`DeferredIncomeTaxExpenseBenefit`	-	USD	Annual
Accounts receivable - trade	`IncreaseDecreaseInAccountsReceivable`	$1.91M	USD	Annual
Accounts receivable - trade	`IncreaseDecreaseInAccountsReceivable`	$3.62M	USD	Annual
Accounts receivable - other	`IncreaseDecreaseInOtherReceivables`	$241.39K	USD	Annual
Accounts receivable - other	`IncreaseDecreaseInOtherReceivables`	$130.34K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$-2.89M	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$3.04M	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-116.66K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$39.27K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$44.54K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-6.72K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.16M	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-2.31M	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.14M	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$104.78K	USD	Annual
Income taxes payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$-4.58K	USD	Annual
Income taxes payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$16.45K	USD	Annual
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$29.26K	USD	Annual
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$-37.28K	USD	Annual
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-301.42K	USD	Annual
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$945.52K	USD	Annual
Purchases of furniture, fixtures and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$341.39K	USD	Annual
Purchases of furniture, fixtures and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$120.98K	USD	Annual
Additions to intangible assets	`PaymentsToAcquireIntangibleAssets`	$42.40K	USD	Annual
Additions to intangible assets	`PaymentsToAcquireIntangibleAssets`	$30.12K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-383.79K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-151.10K	USD	Annual
Proceeds from issuance of subordinated note payable	`ProceedsFromNotesPayable`	$2.31M	USD	Annual
Proceeds from issuance of subordinated note payable	`ProceedsFromNotesPayable`	-	USD	Annual
Proceeds from issuance of common stock purchase warrants	`ProceedsFromIssuanceOfCommonStockPurchaseWarrants`	-	USD	Annual
Proceeds from issuance of common stock purchase warrants	`ProceedsFromIssuanceOfCommonStockPurchaseWarrants`	$190.23K	USD	Annual
Increase (decrease) in line of credit	`RepaymentsOfLinesOfCredit`	$1.50M	USD	Annual
Increase (decrease) in line of credit	`RepaymentsOfLinesOfCredit`	$-1.50M	USD	Annual
Deferred issuance costs for subordinated note payable	`PaymentsOfDebtIssuanceCosts`	$147.50K	USD	Annual
Deferred issuance costs for subordinated note payable	`PaymentsOfDebtIssuanceCosts`	-	USD	Annual
Proceeds from exercise of stock options and warrants	`ProceedsFromStockOptionsExercised`	$95.30K	USD	Annual
Proceeds from exercise of stock options and warrants	`ProceedsFromStockOptionsExercised`	-	USD	Annual
Purchase of common shares for treasury	`TreasuryStockValueAcquiredCostMethod`	-	USD	Annual
Purchase of common shares for treasury	`TreasuryStockValueAcquiredCostMethod`	$-469.76K	USD	Annual
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$852.50K	USD	Annual
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.13M	USD	Annual
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.65M	USD	Annual
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$440.32K	USD	Annual
Cash and cash equivalents, beginning of period	`Cash`	$2.27M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`Cash`	$183.15K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`Cash`	$623.48K	USD	Point-in-time
Cash and cash equivalents, end of period	`Cash`	$2.27M	USD	Point-in-time
Cash and cash equivalents, end of period	`Cash`	$183.15K	USD	Point-in-time
Cash and cash equivalents, end of period	`Cash`	$623.48K	USD	Point-in-time
Cash payments for interest	`InterestPaid`	$112.04K	USD	Annual
Cash payments for interest	`InterestPaid`	$24.86K	USD	Annual
Cash payments for income taxes	`IncomeTaxesPaid`	$14.42K	USD	Annual
Cash payments for income taxes	`IncomeTaxesPaid`	$15.78K	USD	Annual
Issuance of common stock purchase warrants related to issuance of subordinated note payable	`IssuanceOfCommonStockPurchaseWarrantsRelatedToIssuanceOfSubordinatedNotePayable`	-	USD	Annual
Issuance of common stock purchase warrants related to issuance of subordinated note payable	`IssuanceOfCommonStockPurchaseWarrantsRelatedToIssuanceOfSubordinatedNotePayable`	$46.50K	USD	Annual
Common stock surrendered as consideration for exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$-833.99K	USD	Annual
Common stock surrendered as consideration for exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	-	USD	Annual
Transfer of demonstration equipment from inventory to equipment	`Transferofdemonstrationequipment`	-	USD	Annual
Transfer of demonstration equipment from inventory to equipment	`Transferofdemonstrationequipment`	$434.32K	USD	Annual

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance - Amount	`StockholdersEquity`	$9.31M	USD	Point-in-time
Beginning Balance - Amount	`StockholdersEquity`	$12.19M	USD	Point-in-time
Beginning Balance - Amount	`StockholdersEquity`	$17.57M	USD	Point-in-time
Stock-based compensation	`ShareBasedCompensation`	$1.76M	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$839.23K	USD	Annual
Deficiency in tax benefits related to stock-based compensation	`AdjustmentToAdditionalPaidInCapitalIncomeTaxEffectFromShareBasedCompensationNet`	$-125.00K	USD	Annual
Deficiency in tax benefits related to stock-based compensation	`AdjustmentToAdditionalPaidInCapitalIncomeTaxEffectFromShareBasedCompensationNet`	-	USD	Annual
Stock options exercised, amount	`StockIssuedDuringPeriodValueStockOptionsExercised`	$-833.99K	USD	Annual
Stock options exercised, amount	`StockIssuedDuringPeriodValueStockOptionsExercised`	-	USD	Annual
Restricted common stock grant, amount	`StockIssuedDuringPeriodValueRestrictedStockAwardGross`	-	USD	Annual
Restricted common stock grant, amount	`StockIssuedDuringPeriodValueRestrictedStockAwardGross`	-	USD	Annual
Purchase of common shares for treasury	`TreasuryStockValueAcquiredCostMethod`	-	USD	Annual
Purchase of common shares for treasury	`TreasuryStockValueAcquiredCostMethod`	$-469.76K	USD	Annual
Issuance of common stock purchase warrants related to issuance of subordinated note payable	`DebtConversionConvertedInstrumentWarrantsOrOptionsIssued1`	236,726.00	shares	Annual
Issuance of common stock purchase warrants related to issuance of subordinated note payable	`DebtConversionConvertedInstrumentWarrantsOrOptionsIssued1`	0.00	shares	Annual
Net loss	`NetIncomeLoss`	$6.54M	USD	Annual
Net loss	`NetIncomeLoss`	$3.96M	USD	Annual
Ending Balance, Amount	`StockholdersEquity`	$9.31M	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$12.19M	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$17.57M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.