10-K Filing

DIGITAL ALLY, INC. CIK: 1342958 FY 2013

Filing Information

Form Type	10-K
Accession Number	`0001493152-14-000847`
Period End Date	20131231
Filing Date	20140327
Fiscal Year	2013
Fiscal Period	FY
XBRL Instance	dgly-20131231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 80 Income Statement 44 Cash Flow Statement 70 Stockholders Equity 20

Balance Sheet 80 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivable`	$55.03K	USD	Point-in-time
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivable`	$125.00K	USD	Point-in-time
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivable`	$70.19K	USD	Point-in-time
Discount on subordinated notes payable, long-term	`DiscountOnSubordinatedNotesPayableNonCurrent`	$187.63K	USD	Point-in-time
Discount on subordinated notes payable, long-term	`DiscountOnSubordinatedNotesPayableNonCurrent`	$96.38K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.27M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$454.98K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$703.17K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	9.38M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	9.38M	shares	Point-in-time
Accounts receivable-trade, less allowance for doubtful accounts of $55,033 - 2013 and $70,193 - 2012	`AccountsAndNotesReceivableNet`	$2.96M	USD	Point-in-time
Accounts receivable-trade, less allowance for doubtful accounts of $55,033 - 2013 and $70,193 - 2012	`AccountsAndNotesReceivableNet`	$1.84M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	16.79M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	2.28M	shares	Point-in-time
Accounts receivable-other	`AccountsAndOtherReceivablesNetCurrent`	$71.15K	USD	Point-in-time
Accounts receivable-other	`AccountsAndOtherReceivablesNetCurrent`	$153.56K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	2.10M	shares	Point-in-time
Treasury stock shares	`TreasuryStockShares`	63,518.00	shares	Point-in-time
Inventories	`InventoryNet`	$7.29M	USD	Point-in-time
Treasury stock shares	`TreasuryStockShares`	63,518.00	shares	Point-in-time
Inventories	`InventoryNet`	$8.05M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$258.64K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$402.82K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$11.28M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$10.89M	USD	Point-in-time
Furniture, fixtures and equipment	`PropertyPlantAndEquipmentGross`	$4.39M	USD	Point-in-time
Furniture, fixtures and equipment	`PropertyPlantAndEquipmentGross`	$4.56M	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$3.45M	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$3.62M	USD	Point-in-time
Furniture, fixtures and equipment, Net	`PropertyPlantAndEquipmentNet`	$938.07K	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`	$662.50K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$217.66K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$267.28K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$241.45K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$245.04K	USD	Point-in-time
Total assets	`Assets`	$13.01M	USD	Point-in-time
Total assets	`Assets`	$13.34M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.52M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.44M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesFairValueDisclosure`	$1.47M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesFairValueDisclosure`	$793.52K	USD	Point-in-time
Capital lease obligation-current	`CapitalLeaseObligationsCurrent`	$91.28K	USD	Point-in-time
Capital lease obligation-current	`CapitalLeaseObligationsCurrent`	$66.09K	USD	Point-in-time
Deferred revenue-current	`DeferredRevenueCurrent`	$6.00K	USD	Point-in-time
Deferred revenue-current	`DeferredRevenueCurrent`	-	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$8.62K	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$6.72K	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$1.88K	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`	$3.02M	USD	Point-in-time
Subordinated note payable-long-term, net of discount of $187,634 - 2013 and $96,378 - 2012	`SubordinatedLongTermDebt`	$2.31M	USD	Point-in-time
Subordinated note payable-long-term, net of discount of $187,634 - 2013 and $96,378 - 2012	`SubordinatedLongTermDebt`	$2.40M	USD	Point-in-time
Litigation accrual-long term	`LitigationAccrualLongTerm`	$530.00K	USD	Point-in-time
Litigation accrual-long term	`LitigationAccrualLongTerm`	$530.00K	USD	Point-in-time
Capital lease obligation-long term	`CapitalLeaseObligationsNoncurrent`	$64.99K	USD	Point-in-time
Capital lease obligation-long term	`CapitalLeaseObligationsNoncurrent`	$120.99K	USD	Point-in-time
Deferred revenue-long term	`DeferredRevenueNoncurrent`	-	USD	Point-in-time
Deferred revenue-long term	`DeferredRevenueNoncurrent`	$24.00K	USD	Point-in-time
Total long term liabilities	`LiabilitiesNoncurrent`	$3.05M	USD	Point-in-time
Total long term liabilities	`LiabilitiesNoncurrent`	$2.93M	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: 2,284,048 - 2013 and 2,099,082 - 2012	`CommonStockValue`	$2.10K	USD	Point-in-time
Common stock, $0.001 par value; 9,375,000 shares authorized; shares issued: 2,284,048 - 2013 and 2,099,082 - 2012	`CommonStockValue`	$2.28K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$23.30M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$24.96M	USD	Point-in-time
Treasury stock, at cost (shares: 63,518 - 2013 and 63,518 - 2012)	`TreasuryStockValue`	$2.16M	USD	Point-in-time
Treasury stock, at cost (shares: 63,518 - 2013 and 63,518 - 2012)	`TreasuryStockValue`	$2.16M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-13.25M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-15.75M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$9.31M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$7.05M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$7.90M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$13.01M	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`	$17.01M	USD	Annual
Product revenue	`SalesRevenueGoodsGross`	$16.69M	USD	Annual
Other revenue	`OtherSalesRevenueNet`	$813.50K	USD	Annual
Other revenue	`OtherSalesRevenueNet`	$926.97K	USD	Annual
Total revenue	`Revenues`	$17.62M	USD	Annual
Total revenue	`Revenues`	$17.83M	USD	Annual
Cost of revenue	`CostOfRevenue`	$7.72M	USD	Annual
Cost of revenue	`CostOfRevenue`	$8.14M	USD	Annual
Gross profit	`GrossProfit`	$9.48M	USD	Annual
Gross profit	`GrossProfit`	$10.11M	USD	Annual
Research and development expense	`ResearchAndDevelopmentExpense`	$3.67M	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`	$2.70M	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$705.61K	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$521.43K	USD	Annual
Litigation charges (credits) and related expenses	`LitigationChargeCreditAndRelatedExpenses`	$313.95K	USD	Annual
Litigation charges (credits) and related expenses	`LitigationChargeCreditAndRelatedExpenses`	$208.32K	USD	Annual
General and administrative expense	`GeneralAndAdministrativeExpense`	$5.22M	USD	Annual
General and administrative expense	`GeneralAndAdministrativeExpense`	$5.08M	USD	Annual
Total selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$12.36M	USD	Annual
Total selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$11.17M	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-1.69M	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-2.25M	USD	Annual
Interest income	`InvestmentIncomeInterest`	$10.09K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$11.39K	USD	Annual
Other income	`OtherNonoperatingIncome`	$19.07K	USD	Annual
Other income	`OtherNonoperatingIncome`	-	USD	Annual
Interest expense	`InterestExpense`	$294.56K	USD	Annual
Interest expense	`InterestExpense`	$277.96K	USD	Annual
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.97M	USD	Annual
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.50M	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	Annual
Net loss	`NetIncomeLoss`	$-2.50M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.97M	USD	Annual
Basic	`EarningsPerShareBasic`	$-1.17	USD	Annual
Basic	`EarningsPerShareBasic`	$-0.97	USD	Annual
Diluted	`EarningsPerShareDiluted`	$-1.17	USD	Annual
Diluted	`EarningsPerShareDiluted`	$-0.97	USD	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	2.03M	shares	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	2.14M	shares	Annual
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.03M	shares	Annual
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.14M	shares	Annual

Cash Flow Statement 70 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.50M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.97M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$672.09K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$429.00K	USD	Annual
Stock based compensation	`ShareBasedCompensation`	$705.61K	USD	Annual
Stock based compensation	`ShareBasedCompensation`	$521.43K	USD	Annual
Provision for inventory obsolescence	`InventoryWriteDown`	$-169.85K	USD	Annual
Provision for inventory obsolescence	`InventoryWriteDown`	$-116.62K	USD	Annual
Provision for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableWriteOffs`	$-15.16K	USD	Annual
Provision for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableWriteOffs`	$-54.81K	USD	Annual
Accounts receivable - trade	`IncreaseDecreaseInAccountsReceivable`	$-48.80K	USD	Annual
Accounts receivable - trade	`IncreaseDecreaseInAccountsReceivable`	$1.14M	USD	Annual
Accounts receivable - other	`IncreaseDecreaseInOtherReceivables`	$33.17K	USD	Annual
Accounts receivable - other	`IncreaseDecreaseInOtherReceivables`	$-82.42K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$-441.58K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$-635.13K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-115.22K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$42.87K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-143.59K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-3.60K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$673.17K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-79.06K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-39.74K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$677.93K	USD	Annual
Litigation accrual	`IncreaseDecreaseInLitigationAccrual`	$530.00K	USD	Annual
Litigation accrual	`IncreaseDecreaseInLitigationAccrual`	-	USD	Annual
Income taxes payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$1.90K	USD	Annual
Income taxes payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$-14.33K	USD	Annual
Unearned income	`IncreaseDecreaseInUnearnedPremiumsNet`	$30.00K	USD	Annual
Unearned income	`IncreaseDecreaseInUnearnedPremiumsNet`	-	USD	Annual
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	-	USD	Annual
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$-30.02K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-564.66K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-440.97K	USD	Annual
Purchases of furniture, fixtures and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$275.47K	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`	$61.52K	USD	Annual
Restricted cash for appealed litigation	`IncreaseDecreaseInRestrictedCash`	-	USD	Annual
Restricted cash for appealed litigation	`IncreaseDecreaseInRestrictedCash`	$662.50K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-336.99K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.08M	USD	Annual
Proceeds from exercise of stock options and warrants	`ProceedsFromIssuanceOfCommonStock`	$739.57K	USD	Annual
Proceeds from exercise of stock options and warrants	`ProceedsFromIssuanceOfCommonStock`	-	USD	Annual
Deferred issuance costs for subordinated note payable	`ProceedsFromIssuanceOfSubordinatedLongTermDebt`	-	USD	Annual
Deferred issuance costs for subordinated note payable	`ProceedsFromIssuanceOfSubordinatedLongTermDebt`	$-10.00K	USD	Annual
Payments on capital lease obligation	`RepaymentsOfDebtAndCapitalLeaseObligations`	$76.11K	USD	Annual
Payments on capital lease obligation	`RepaymentsOfDebtAndCapitalLeaseObligations`	$48.16K	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$653.46K	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-48.16K	USD	Annual
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.57M	USD	Annual
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-248.19K	USD	Annual
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.27M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$454.98K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$703.17K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.27M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$454.98K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$703.17K	USD	Point-in-time
Cash payments for interest	`InterestPaid`	$215.66K	USD	Annual
Cash payments for interest	`InterestPaid`	$209.88K	USD	Annual
Cash payments for income taxes	`IncomeTaxesPaid`	$3.92K	USD	Annual
Cash payments for income taxes	`IncomeTaxesPaid`	$17.49K	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 issuance of subordinated note payable	`IssuanceOfCommonStockPurchaseWarrantsRelatedToIssuanceOfSubordinatedNotePayable`	$205.82K	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	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	$16.00	USD	Annual
Restricted common stock grant	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	-	USD	Annual
Capital expenditures financed by capital lease obligations	`CapitalExpendituresFinancedByCapitalLeaseObligations`	$234.93K	USD	Annual
Capital expenditures financed by capital lease obligations	`CapitalExpendituresFinancedByCapitalLeaseObligations`	$45.37K	USD	Annual

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$9.31M	USD	Point-in-time
Balance	`StockholdersEquity`	$7.05M	USD	Point-in-time
Balance	`StockholdersEquity`	$7.90M	USD	Point-in-time
Stock-based compensation	`ShareBasedCompensation`	$705.61K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$521.43K	USD	Annual
Restricted common stock grant	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	$16.00	USD	Annual
Restricted common stock grant	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	-	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 issuance of subordinated note payable	`IssuanceOfCommonStockPurchaseWarrantsRelatedToIssuanceOfSubordinatedNotePayable`	$205.82K	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
Issuance of common stock upon exercise of stock options	`StockIssuedDuringPeriodValueNewIssues`	$740.28K	USD	Annual
Common shares surrendered in connection with cashless exercise of stock options	`CommonSharesSurrenderedInConnectionWithCashlessExerciseOfStockOptions`	$-3.34K	USD	Annual
Issuance of common stock upon exercise of common stock purchase warrants	`IssuanceOfCommonStockUponExerciseOfCommonStockPurchaseWarrants`	$18.74K	USD	Annual
Common shares surrendered in connection with cashless exercise of common stock purchase warrants	`CommonSharesSurrenderedInConnectionWithCashlessExerciseOfCommonStockPurchaseWarrants`	$-16.12K	USD	Annual
Net loss	`NetIncomeLoss`	$-2.50M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.97M	USD	Annual
Balance	`StockholdersEquity`	$9.31M	USD	Point-in-time
Balance	`StockholdersEquity`	$7.05M	USD	Point-in-time
Balance	`StockholdersEquity`	$7.90M	USD	Point-in-time

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