10-Q Filing

DIGITAL ALLY, INC. CIK: 1342958 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0001354488-12-002306`
Period End Date	20120331
Filing Date	20120511
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	dgly-20120331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 40 Cash Flow Statement 52 Stockholders Equity 8

Balance Sheet 60 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivable`	$125.00K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivable`	$125.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.27M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.79M	USD	Point-in-time
Accounts receivable-trade, less allowance for doubtful accounts of $125,000 - 2012 and $125,000 - 2011	`AccountsAndNotesReceivableNet`	$2.85M	USD	Point-in-time
Accounts receivable-trade, less allowance for doubtful accounts of $125,000 - 2012 and $125,000 - 2011	`AccountsAndNotesReceivableNet`	$2.17M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable-other	`AccountsAndOtherReceivablesNetCurrent`	$104.32K	USD	Point-in-time
Accounts receivable-other	`AccountsAndOtherReceivablesNetCurrent`	$86.69K	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`	$7.19M	USD	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	16.66M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$253.35K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$302.32K	USD	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	16.66M	shares	Point-in-time
Treasury Stock, Shares	`TreasuryStockShares`	508,145.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$11.49M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$12.21M	USD	Point-in-time
Treasury Stock, Shares	`TreasuryStockShares`	508,145.00	shares	Point-in-time
Furniture, fixtures and equipment	`PropertyPlantAndEquipmentGross`	$4.14M	USD	Point-in-time
Furniture, fixtures and equipment	`PropertyPlantAndEquipmentGross`	$4.07M	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$3.37M	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$3.21M	USD	Point-in-time
Furniture, fixtures and equipment, Net	`PropertyPlantAndEquipmentNet`	$777.12K	USD	Point-in-time
Furniture, fixtures and equipment, Net	`PropertyPlantAndEquipmentNet`	$860.89K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$226.80K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$212.74K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$97.85K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$89.67K	USD	Point-in-time
Total assets	`Assets`	$13.40M	USD	Point-in-time
Total assets	`Assets`	$12.57M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$847.04K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.00M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesFairValueDisclosure`	$551.11K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesFairValueDisclosure`	$833.26K	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$21.05K	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$4.05K	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$1.88K	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$31.90K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.73M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.56M	USD	Point-in-time
Subordinated notes payable-long-term, net of discount of $117,526 and $142,711	`SubordinatedDebtCurrent`	$2.36M	USD	Point-in-time
Subordinated notes payable-long-term, net of discount of $117,526 and $142,711	`SubordinatedDebtCurrent`	$2.38M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.001 par value; 75,000,000 shares authorized; shares issued: 16,662,218 2012 and 16,662,218 2011	`CommonStockValue`	$16.66K	USD	Point-in-time
Common stock, $0.001 par value; 75,000,000 shares authorized; shares issued: 16,662,218 2012 and 16,662,218 2011	`CommonStockValue`	$16.66K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$22.73M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$22.85M	USD	Point-in-time
Treasury stock, at cost (shares: 508,145 - 2012 and 508,145 - 2011)	`TreasuryStockValue`	$2.16M	USD	Point-in-time
Treasury stock, at cost (shares: 508,145 - 2012 and 508,145 - 2011)	`TreasuryStockValue`	$2.16M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-12.08M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-11.28M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$9.31M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$8.62M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$13.40M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$12.57M	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Product revenue	`SalesRevenueGoodsGross`	$4.57M	USD	1 Quarter
Product revenue	`SalesRevenueGoodsGross`	$3.59M	USD	1 Quarter
Other revenue	`OtherSalesRevenueNet`	$159.12K	USD	1 Quarter
Other revenue	`OtherSalesRevenueNet`	$193.90K	USD	1 Quarter
Total revenue	`Revenues`	$3.78M	USD	1 Quarter
Total revenue	`Revenues`	$4.73M	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$1.79M	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$2.75M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.98M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.00M	USD	1 Quarter
Research and development expense	`ResearchAndDevelopmentExpense`	$602.90K	USD	1 Quarter
Research and development expense	`ResearchAndDevelopmentExpense`	$708.77K	USD	1 Quarter
Selling, advertising and promotional expense	`MarketingExpense`	$470.68K	USD	1 Quarter
Selling, advertising and promotional expense	`MarketingExpense`	$581.66K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$227.79K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$120.64K	USD	1 Quarter
General and administrative expense	`GeneralAndAdministrativeExpense`	$1.42M	USD	1 Quarter
General and administrative expense	`GeneralAndAdministrativeExpense`	$1.70M	USD	1 Quarter
Total selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$3.11M	USD	1 Quarter
Total selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.73M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$1.13M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$732.18K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$-2.64K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$-4.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$-20.62K	USD	1 Quarter
Interest expense	`InterestExpense`	$-75.19K	USD	1 Quarter
Loss before income tax expense	`IncomeTaxExpenseBenefit`	$-804.73K	USD	1 Quarter
Loss before income tax expense	`IncomeTaxExpenseBenefit`	$-1.15M	USD	1 Quarter
Income tax expense	`IncomeTaxExpense`	-	USD	1 Quarter
Income tax expense	`IncomeTaxExpense`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$1.15M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$804.73K	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.07	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.05	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.07	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.05	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	16.15M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	16.15M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	16.15M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	16.15M	shares	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$1.15M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$804.73K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$194.23K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$207.26K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$227.79K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$120.64K	USD	1 Quarter
Provision for inventory obsolescence	`InventoryWriteDown`	$152.28K	USD	1 Quarter
Provision for inventory obsolescence	`InventoryWriteDown`	$1.71K	USD	1 Quarter
Accounts receivable - trade	`IncreaseDecreaseInAccountsReceivable`	$429.65K	USD	1 Quarter
Accounts receivable - trade	`IncreaseDecreaseInAccountsReceivable`	$682.14K	USD	1 Quarter
Accounts receivable - other	`IncreaseDecreaseInOtherReceivables`	$17.63K	USD	1 Quarter
Accounts receivable - other	`IncreaseDecreaseInOtherReceivables`	$-1.03K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$919.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-508.47K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$85.83K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$48.97K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$8.18K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-7.79K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$156.44K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.22M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-282.15K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$143.22K	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$-9.75K	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$-17.00K	USD	1 Quarter
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$-764.00	USD	1 Quarter
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$-30.02K	USD	1 Quarter
Net cash used in by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-222.04K	USD	1 Quarter
Net cash used in by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-412.43K	USD	1 Quarter
Purchases of furniture, fixtures and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$89.37K	USD	1 Quarter
Purchases of furniture, fixtures and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$68.51K	USD	1 Quarter
Additions to intangible assets	`PaymentsToAcquireIntangibleAssets`	$2.43K	USD	1 Quarter
Additions to intangible assets	`PaymentsToAcquireIntangibleAssets`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-91.80K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-68.51K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-313.84K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-480.94K	USD	1 Quarter
Cash and cash equivalents, beginning of period	`Cash`	$2.27M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`Cash`	$309.64K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`Cash`	$1.79M	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`	$309.64K	USD	Point-in-time
Cash and cash equivalents, end of period	`Cash`	$1.79M	USD	Point-in-time
Cash and cash equivalents, end of period	`Cash`	$623.48K	USD	Point-in-time
Cash payments for interest	`InterestPaid`	$50.00K	USD	1 Quarter
Cash payments for interest	`InterestPaid`	$20.62K	USD	1 Quarter
Cash payments for income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Cash payments for income taxes	`IncomeTaxesPaid`	$17.00K	USD	1 Quarter
Transfer of demonstration equipment from inventory to equipment	`Transferofdemonstrationequipment`	-	USD	1 Quarter
Transfer of demonstration equipment from inventory to equipment	`Transferofdemonstrationequipment`	$510.93K	USD	1 Quarter

Stockholders Equity 8 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance - Amount	`StockholdersEquity`	$9.31M	USD	Point-in-time
Beginning Balance - Amount	`StockholdersEquity`	$8.62M	USD	Point-in-time
Stock-based compensation	`ShareBasedCompensation`	$227.79K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$120.64K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$1.15M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$804.73K	USD	1 Quarter
Ending Balance, Amount	`StockholdersEquity`	$9.31M	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$8.62M	USD	Point-in-time

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