10-K Filing

DIGITAL ALLY, INC. CIK: 1342958 FY 2012

Filing Information

Form Type	10-K
Accession Number	`0001354488-13-001500`
Period End Date	20121231
Filing Date	20130327
Fiscal Year	2012
Fiscal Period	FY
XBRL Instance	dgly-20121231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 44 Cash Flow Statement 74 Stockholders Equity 16

Balance Sheet 74 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivable`	$110.00K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivable`	$70.19K	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`	$703.17K	USD	Point-in-time
Accounts receivable-trade, less allowance for doubtful accounts of $70,193 2012 and $125,000 2011	`AccountsReceivableNet`	$2.85M	USD	Point-in-time
Subordinated notes payable-long-term	`SubordinatedNotesPayablelongterm`	$96.38K	USD	Point-in-time
Subordinated notes payable-long-term	`SubordinatedNotesPayablelongterm`	$142.71K	USD	Point-in-time
Accounts receivable-trade, less allowance for doubtful accounts of $70,193 2012 and $125,000 2011	`AccountsReceivableNet`	$2.96M	USD	Point-in-time
Accounts receivable-other	`AccountsAndOtherReceivablesNetCurrent`	$71.15K	USD	Point-in-time
Accounts receivable-other	`AccountsAndOtherReceivablesNetCurrent`	$104.32K	USD	Point-in-time
Inventories	`InventoryNet`	$6.68M	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
Inventories	`InventoryNet`	$7.29M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$258.64K	USD	Point-in-time
Common stock, authorized shares	`CommonStockSharesAuthorized`	9.38M	shares	Point-in-time
Common stock, authorized shares	`CommonStockSharesAuthorized`	9.38M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$302.32K	USD	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	2.10M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$12.21M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$11.28M	USD	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	2.08M	shares	Point-in-time
Treasury Stock, Shares	`TreasuryStockShares`	63,518.00	shares	Point-in-time
Furniture, fixtures and equipment	`PropertyPlantAndEquipmentGross`	$4.07M	USD	Point-in-time
Treasury Stock, Shares	`TreasuryStockShares`	63,518.00	shares	Point-in-time
Furniture, fixtures and equipment	`PropertyPlantAndEquipmentGross`	$4.39M	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$3.21M	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$3.45M	USD	Point-in-time
Furniture, fixtures and equipment, Net	`PropertyPlantAndEquipmentNet`	$860.89K	USD	Point-in-time
Furniture, fixtures and equipment, Net	`PropertyPlantAndEquipmentNet`	$938.79K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalents`	$662.50K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalents`	-	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$226.80K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$217.66K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$241.45K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$97.85K	USD	Point-in-time
Total assets	`Assets`	$13.34M	USD	Point-in-time
Total assets	`Assets`	$13.40M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.52M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$847.04K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesFairValueDisclosure`	$793.52K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesFairValueDisclosure`	$833.26K	USD	Point-in-time
Capital lease obligation-current	`CapitalLeaseObligationsCurrent`	-	USD	Point-in-time
Capital lease obligation-current	`CapitalLeaseObligationsCurrent`	$66.09K	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$6.72K	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$21.05K	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$31.90K	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$1.88K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.39M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.73M	USD	Point-in-time
Subordinated notes payable-long-term, net of discount of $96,378 and $142,711	`SubordinatedDebtCurrent`	$2.36M	USD	Point-in-time
Subordinated notes payable-long-term, net of discount of $96,378 and $142,711	`SubordinatedDebtCurrent`	$2.40M	USD	Point-in-time
Litigation accrual - long term	`LitigationAccrualLongTerm`	$530.00K	USD	Point-in-time
Litigation accrual - long term	`LitigationAccrualLongTerm`	-	USD	Point-in-time
Capital lease obligation - long term	`CapitalLeaseObligationsNoncurrent`	$120.99K	USD	Point-in-time
Capital lease obligation - long term	`CapitalLeaseObligationsNoncurrent`	-	USD	Point-in-time
Total long term liabilities	`LiabilitiesNoncurrent`	$3.05M	USD	Point-in-time
Total long term liabilities	`LiabilitiesNoncurrent`	$2.36M	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; 9,375,000 shares authorized; shares issued: 2,099,082 2012 and 2,082,832 2011	`CommonStockValue`	$2.08K	USD	Point-in-time
Common stock, $0.001 par value; 9,375,000 shares authorized; shares issued: 2,099,082 2012 and 2,082,832 2011	`CommonStockValue`	$2.10K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$23.30M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$22.74M	USD	Point-in-time
Treasury stock, at cost (shares: 63,518 2012 and 63,518 - 2011)	`TreasuryStockValue`	$2.16M	USD	Point-in-time
Treasury stock, at cost (shares: 63,518 2012 and 63,518 - 2011)	`TreasuryStockValue`	$2.16M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-13.25M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-11.28M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$7.90M	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 liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$13.40M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$13.34M	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Product revenue	`SalesRevenueGoodsGross`	$18.86M	USD	Annual
Product revenue	`SalesRevenueGoodsGross`	$16.69M	USD	Annual
Other revenue	`OtherSalesRevenueNet`	$718.50K	USD	Annual
Other revenue	`OtherSalesRevenueNet`	$926.97K	USD	Annual
Total revenue	`Revenues`	$19.58M	USD	Annual
Total revenue	`Revenues`	$17.62M	USD	Annual
Cost of revenue	`CostOfRevenue`	$10.81M	USD	Annual
Cost of revenue	`CostOfRevenue`	$8.14M	USD	Annual
Gross profit	`GrossProfit`	$9.48M	USD	Annual
Gross profit	`GrossProfit`	$8.77M	USD	Annual
Research and development expense	`ResearchAndDevelopmentExpense`	$2.77M	USD	Annual
Research and development expense	`ResearchAndDevelopmentExpense`	$2.53M	USD	Annual
Selling, advertising and promotional expense	`MarketingExpense`	$2.59M	USD	Annual
Selling, advertising and promotional expense	`MarketingExpense`	$2.23M	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$521.43K	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$839.23K	USD	Annual
Litigation charge (credit) and related expenses	`LegalFees`	$313.95K	USD	Annual
Litigation charge (credit) and related expenses	`LegalFees`	-	USD	Annual
General and administrative expense	`GeneralAndAdministrativeExpense`	$5.22M	USD	Annual
General and administrative expense	`GeneralAndAdministrativeExpense`	$6.55M	USD	Annual
Total selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$11.17M	USD	Annual
Total selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$12.40M	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-3.62M	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-1.69M	USD	Annual
Interest income	`InvestmentIncomeInterest`	$10.09K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$16.11K	USD	Annual
Interest expense	`InterestExpense`	$222.46K	USD	Annual
Interest expense	`InterestExpense`	$294.56K	USD	Annual
Loss on extinguishment of debt	`ExtinguishmentOfDebtGainLossNetOfTax`	-	USD	Annual
Loss on extinguishment of debt	`ExtinguishmentOfDebtGainLossNetOfTax`	$-131.09K	USD	Annual
Income (loss) before income tax benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.97M	USD	Annual
Income (loss) before income tax benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-3.96M	USD	Annual
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	-	USD	Annual
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	-	USD	Annual
Net loss	`NetIncomeLoss`	$-1.97M	USD	Annual
Net loss	`NetIncomeLoss`	$-3.96M	USD	Annual
Basic	`EarningsPerShareBasic`	$-0.97	USD	Annual
Basic	`EarningsPerShareBasic`	$-1.96	USD	Annual
Diluted	`EarningsPerShareDiluted`	$-1.96	USD	Annual
Diluted	`EarningsPerShareDiluted`	$-0.97	USD	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	2.03M	shares	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	2.02M	shares	Annual
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.03M	shares	Annual
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.02M	shares	Annual

Cash Flow Statement 74 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.97M	USD	Annual
Net loss	`NetIncomeLoss`	$-3.96M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$1.06M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$672.09K	USD	Annual
Stock based compensation	`ShareBasedCompensation`	$521.43K	USD	Annual
Stock based compensation	`ShareBasedCompensation`	$839.23K	USD	Annual
Provision for inventory obsolescence	`InventoryWriteDown`	$-169.85K	USD	Annual
Provision for inventory obsolescence	`InventoryWriteDown`	$-186.40K	USD	Annual
Provision for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease`	$15.00K	USD	Annual
Provision for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease`	$-54.81K	USD	Annual
Loss on extinguishment of debt	`ExtinguishmentOfDebtGainLossNetOfTax`	-	USD	Annual
Loss on extinguishment of debt	`ExtinguishmentOfDebtGainLossNetOfTax`	$-131.09K	USD	Annual
Accounts receivable - trade	`IncreaseDecreaseInAccountsReceivable`	$-48.80K	USD	Annual
Accounts receivable - trade	`IncreaseDecreaseInAccountsReceivable`	$1.91M	USD	Annual
Accounts receivable - other	`IncreaseDecreaseInOtherReceivables`	$241.39K	USD	Annual
Accounts receivable - other	`IncreaseDecreaseInOtherReceivables`	$33.17K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$-441.58K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$3.04M	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$42.87K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$39.27K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-143.59K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-6.72K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-2.31M	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$673.17K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-39.74K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$104.78K	USD	Annual
Litigation accrual	`IncreaseDecreaseInLitigationAccrual`	-	USD	Annual
Litigation accrual	`IncreaseDecreaseInLitigationAccrual`	$530.00K	USD	Annual
Income taxes payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$-4.58K	USD	Annual
Income taxes payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$-14.33K	USD	Annual
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$29.26K	USD	Annual
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$-30.02K	USD	Annual
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-440.97K	USD	Annual
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$945.52K	USD	Annual
Purchases of furniture, fixtures and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$120.98K	USD	Annual
Purchases of furniture, fixtures and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$389.04K	USD	Annual
Additions to intangible assets	`PaymentsToAcquireIntangibleAssets`	$26.56K	USD	Annual
Additions to intangible assets	`PaymentsToAcquireIntangibleAssets`	$30.12K	USD	Annual
Restricted cash for appealed litigation	`IncreaseDecreaseInRestrictedCash`	$662.50K	USD	Annual
Restricted cash for appealed litigation	`IncreaseDecreaseInRestrictedCash`	-	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-151.10K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.08M	USD	Annual
Proceeds from issuance of subordinated note payable	`ProceedsFromNotesPayable`	-	USD	Annual
Proceeds from issuance of subordinated note payable	`ProceedsFromNotesPayable`	$2.31M	USD	Annual
Proceeds from issuance of common stock purchase warrants	`ProceedsFromIssuanceOfCommonStock`	-	USD	Annual
Proceeds from issuance of common stock purchase warrants	`ProceedsFromIssuanceOfCommonStock`	$190.23K	USD	Annual
Change in line of credit	`RepaymentsOfLinesOfCredit`	$1.50M	USD	Annual
Change in line of credit	`RepaymentsOfLinesOfCredit`	-	USD	Annual
Deferred issuance costs for subordinated note payable	`DeferredIssuanceCostsForSubordinatedNotePayable`	-	USD	Annual
Deferred issuance costs for subordinated note payable	`DeferredIssuanceCostsForSubordinatedNotePayable`	$147.50K	USD	Annual
Payments on capital lease obligation	`RepaymentsOfDebtAndCapitalLeaseObligations`	$48.16K	USD	Annual
Payments on capital lease obligation	`RepaymentsOfDebtAndCapitalLeaseObligations`	-	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-48.16K	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$852.50K	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.65M	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.57M	USD	Annual
Cash and cash equivalents, beginning of period	`Cash`	$703.17K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`Cash`	$2.27M	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`	$703.17K	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`	$623.48K	USD	Point-in-time
Cash payments for interest	`InterestPaid`	$209.88K	USD	Annual
Cash payments for interest	`InterestPaid`	$112.04K	USD	Annual
Cash payments for income taxes	`IncomeTaxesPaid`	$4.42K	USD	Annual
Cash payments for income taxes	`IncomeTaxesPaid`	$9.15K	USD	Annual
Issuance of common stock purchase warrants for issuance costs of subordinated notes payable	`IssuanceOfCommonStockPurchaseWarrantsForIssuanceCostsOfSubordinatedNotesPayable`	$46.50K	USD	Annual
Issuance of common stock purchase warrants for issuance costs of subordinated notes payable	`IssuanceOfCommonStockPurchaseWarrantsForIssuanceCostsOfSubordinatedNotesPayable`	$38.05K	USD	Annual
Issuance of common stock purchase warrants related to consulting agreement	`IssuanceOfCommonStockPurchaseWarrantsRelatedToConsultingAgreement`	$4.84K	USD	Annual
Issuance of common stock purchase warrants related to consulting agreement	`IssuanceOfCommonStockPurchaseWarrantsRelatedToConsultingAgreement`	-	USD	Annual
Restricted common stock grant	`RestrictedCommonStockGrant`	$1.00	USD	Annual
Restricted common stock grant	`RestrictedCommonStockGrant`	$16.00	USD	Annual
Capital expenditures financed by capital lease obligations	`CapitalExpendituresFinancedByCapitalLeaseObligations`	-	USD	Annual
Capital expenditures financed by capital lease obligations	`CapitalExpendituresFinancedByCapitalLeaseObligations`	$234.93K	USD	Annual

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance, Amount	`StockholdersEquity`	$7.90M	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$9.31M	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$12.19M	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$521.43K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$839.23K	USD	Annual
Restricted common stock grant, Amount	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	-	USD	Annual
Restricted common stock grant, Amount	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	-	USD	Annual
Issuance of common stock purchase warrants related to issuance of subordinated note payable	`IssuanceOfCommonStockPurchaseWarrantsRelatedToIssuanceOfSubordinatedNotePayable`	$236.73K	USD	Annual
Issuance of common stock purchase warrants related to issuance of subordinated note payable	`IssuanceOfCommonStockPurchaseWarrantsRelatedToIssuanceOfSubordinatedNotePayable`	$38.05K	USD	Annual
Issuance of common stock purchase warrants related to consulting agreement	`IssuanceOfCommonStockPurchaseWarrantsRelatedToConsultingAgreement`	$4.84K	USD	Annual
Issuance of common stock purchase warrants related to consulting agreement	`IssuanceOfCommonStockPurchaseWarrantsRelatedToConsultingAgreement`	-	USD	Annual
Net loss	`NetIncomeLoss`	$-1.97M	USD	Annual
Net loss	`NetIncomeLoss`	$-3.96M	USD	Annual
Ending Balance, Amount	`StockholdersEquity`	$7.90M	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$9.31M	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$12.19M	USD	Point-in-time

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