10-Q Filing

DIGITAL ALLY, INC. CIK: 1342958 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001493152-16-009612`
Period End Date	20160331
Filing Date	20160511
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	dgly-20160331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 48 Cash Flow Statement 70 Stockholders Equity 8

Balance Sheet 68 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$75.00K	USD	Point-in-time
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$67.78K	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.92M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.05M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.27M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.88M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	5.31M	shares	Point-in-time
Accounts receivable-trade, less allowance for doubtful accounts of $67,776 - 2016 and $74,997 - 2015	`AccountsReceivableNetCurrent`	$3.37M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	5.24M	shares	Point-in-time
Accounts receivable-trade, less allowance for doubtful accounts of $67,776 - 2016 and $74,997 - 2015	`AccountsReceivableNetCurrent`	$2.89M	USD	Point-in-time
Accounts receivable-other	`AccountsAndOtherReceivablesNetCurrent`	$142.47K	USD	Point-in-time
Treasury stock shares	`TreasuryStockShares`	63,518.00	shares	Point-in-time
Treasury stock shares	`TreasuryStockShares`	63,518.00	shares	Point-in-time
Accounts receivable-other	`AccountsAndOtherReceivablesNetCurrent`	$143.41K	USD	Point-in-time
Inventories, net	`InventoryNet`	$10.66M	USD	Point-in-time
Inventories, net	`InventoryNet`	$10.31M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$586.01K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$879.09K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$21.68M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$20.10M	USD	Point-in-time
Furniture, fixtures and equipment	`PropertyPlantAndEquipmentGross`	$2.04M	USD	Point-in-time
Furniture, fixtures and equipment	`PropertyPlantAndEquipmentGross`	$2.09M	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$978.86K	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.12M	USD	Point-in-time
Total Furniture, fixture and equipment	`PropertyPlantAndEquipmentNet`	$1.06M	USD	Point-in-time
Total Furniture, fixture and equipment	`PropertyPlantAndEquipmentNet`	$969.11K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$426.08K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$410.26K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$281.40K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$316.52K	USD	Point-in-time
Total assets	`Assets`	$21.78M	USD	Point-in-time
Total assets	`Assets`	$23.47M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.42M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.37M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$986.19K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$936.33K	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesCurrent`	$50.52K	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesCurrent`	$67.05K	USD	Point-in-time
Capital lease obligation-current	`CapitalLeaseObligationsCurrent`	$34.83K	USD	Point-in-time
Capital lease obligation-current	`CapitalLeaseObligationsCurrent`	$32.99K	USD	Point-in-time
Deferred revenue-current	`DeferredRevenueCurrent`	$623.45K	USD	Point-in-time
Deferred revenue-current	`DeferredRevenueCurrent`	$568.99K	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$5.69K	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$10.14K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.99M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.12M	USD	Point-in-time
Capital lease obligation-long term	`CapitalLeaseObligationsNoncurrent`	$41.28K	USD	Point-in-time
Capital lease obligation-long term	`CapitalLeaseObligationsNoncurrent`	$33.26K	USD	Point-in-time
Deferred revenue-long term	`DeferredRevenueNoncurrent`	$1.75M	USD	Point-in-time
Deferred revenue-long term	`DeferredRevenueNoncurrent`	$1.69M	USD	Point-in-time
Total liabilities	`Liabilities`	$4.91M	USD	Point-in-time
Total liabilities	`Liabilities`	$4.72M	USD	Point-in-time
Common stock, $0.001 par value; 25,000,000 shares authorized; shares issued: 5,311,999 - 2016 and 5,241,999 - 2015	`CommonStockValue`	$5.24K	USD	Point-in-time
Common stock, $0.001 par value; 25,000,000 shares authorized; shares issued: 5,311,999 - 2016 and 5,241,999 - 2015	`CommonStockValue`	$5.31K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$57.85M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$58.28M	USD	Point-in-time
Treasury stock, at cost (shares: 63,518 - 2016 and 63,518 - 2015)	`TreasuryStockValue`	$2.16M	USD	Point-in-time
Treasury stock, at cost (shares: 63,518 - 2016 and 63,518 - 2015)	`TreasuryStockValue`	$2.16M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-39.26M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-36.95M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$16.87M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$18.76M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$21.78M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$23.47M	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Product revenue	`SalesRevenueGoodsGross`	$4.06M	USD	1 Quarter
Product revenue	`SalesRevenueGoodsGross`	$4.20M	USD	1 Quarter
Other revenue	`OtherSalesRevenueNet`	$201.35K	USD	1 Quarter
Other revenue	`OtherSalesRevenueNet`	$191.76K	USD	1 Quarter
Total revenue	`Revenues`	$4.25M	USD	1 Quarter
Total revenue	`Revenues`	$4.40M	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$2.60M	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$2.55M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.85M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.65M	USD	1 Quarter
Research and development expense	`ResearchAndDevelopmentExpense`	$743.34K	USD	1 Quarter
Research and development expense	`ResearchAndDevelopmentExpense`	$808.85K	USD	1 Quarter
Selling, advertising and promotional expense	`MarketingExpense`	$922.99K	USD	1 Quarter
Selling, advertising and promotional expense	`MarketingExpense`	$843.89K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$425.83K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$269.20K	USD	1 Quarter
General and administrative expense	`GeneralAndAdministrativeExpense`	$1.76M	USD	1 Quarter
General and administrative expense	`GeneralAndAdministrativeExpense`	$2.03M	USD	1 Quarter
Total selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$4.19M	USD	1 Quarter
Total selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$3.62M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-1.96M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-2.34M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$5.32K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$8.99K	USD	1 Quarter
Change in warrant derivative liabilities	`ChangeInWarrantDerivativeLiabilities`	$-16.53K	USD	1 Quarter
Change in warrant derivative liabilities	`ChangeInWarrantDerivativeLiabilities`	$-165.72K	USD	1 Quarter
Change in fair value of secured convertible notes payable	`ChangeInFairValueOfSecuredConvertibleNotesPayable`	$4.43M	USD	1 Quarter
Change in fair value of secured convertible notes payable	`ChangeInFairValueOfSecuredConvertibleNotesPayable`	-	USD	1 Quarter
Secured convertible note payable issuance expenses	`SecuredConvertibleNotePayableIssuanceExpenses`	$-59.88K	USD	1 Quarter
Secured convertible note payable issuance expenses	`SecuredConvertibleNotePayableIssuanceExpenses`	-	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$1.88K	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Interest expense	`InterestExpense`	$126.17K	USD	1 Quarter
Interest expense	`InterestExpense`	$755.00	USD	1 Quarter
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.31M	USD	1 Quarter
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-6.41M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.31M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-6.41M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.44	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-1.90	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.44	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-1.90	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	3.37M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	5.25M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	3.37M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	5.25M	shares	1 Quarter

Cash Flow Statement 70 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.31M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-6.41M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$152.02K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$161.98K	USD	1 Quarter
Change in derivative liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	$165.72K	USD	1 Quarter
Change in derivative liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	$16.53K	USD	1 Quarter
Change in fair value of secured convertible notes payable	`ChangeInFairValueOfSecuredConvertibleNotePayable`	$-4.43M	USD	1 Quarter
Change in fair value of secured convertible notes payable	`ChangeInFairValueOfSecuredConvertibleNotePayable`	-	USD	1 Quarter
Interest expense related to stock conversion	`InterestExpenseRelatedToStockConversion`	-	USD	1 Quarter
Interest expense related to stock conversion	`InterestExpenseRelatedToStockConversion`	$33.02K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$425.83K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$269.20K	USD	1 Quarter
Provision for inventory obsolescence	`InventoryWriteDown`	$189.00K	USD	1 Quarter
Provision for inventory obsolescence	`InventoryWriteDown`	$137.99K	USD	1 Quarter
Provision for doubtful accounts receivable	`ProvisionForDoubtfulAccounts`	$-7.22K	USD	1 Quarter
Provision for doubtful accounts receivable	`ProvisionForDoubtfulAccounts`	-	USD	1 Quarter
Accounts receivable - trade	`IncreaseDecreaseInAccountsReceivable`	$-488.70K	USD	1 Quarter
Accounts receivable - trade	`IncreaseDecreaseInAccountsReceivable`	$108.88K	USD	1 Quarter
Accounts receivable - other	`IncreaseDecreaseInOtherReceivables`	$-50.97K	USD	1 Quarter
Accounts receivable - other	`IncreaseDecreaseInOtherReceivables`	$932.00	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-215.65K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$1.55M	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$293.08K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$277.69K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-35.12K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$43.17K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-474.68K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$48.68K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$49.87K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$27.21K	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-4.45K	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$3.00	USD	1 Quarter
Deposits	`IncreaseDecreaseInDeposits`	$-1.88K	USD	1 Quarter
Deposits	`IncreaseDecreaseInDeposits`	-	USD	1 Quarter
Unearned income	`IncreaseDecreaseUnearnedIncome`	$120.85K	USD	1 Quarter
Unearned income	`IncreaseDecreaseUnearnedIncome`	$195.15K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.67M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-960.63K	USD	1 Quarter
Purchases of furniture, fixtures and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$46.69K	USD	1 Quarter
Purchases of furniture, fixtures and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$121.42K	USD	1 Quarter
Additions to intangible assets	`PaymentsToAcquireIntangibleAssets`	$13.44K	USD	1 Quarter
Additions to intangible assets	`PaymentsToAcquireIntangibleAssets`	$26.07K	USD	1 Quarter
Release of restricted cash related to secured convertible note	`PaymentsOfRestrictedCashRelatedToSecuredConvertibleNote`	-	USD	1 Quarter
Release of restricted cash related to secured convertible note	`PaymentsOfRestrictedCashRelatedToSecuredConvertibleNote`	$-1.50M	USD	1 Quarter
Net cash provided by (used) in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$1.37M	USD	1 Quarter
Net cash provided by (used) in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-72.76K	USD	1 Quarter
Proceeds from exercise of stock options and warrants	`ProceedsFromWarrantExercises`	$1.55M	USD	1 Quarter
Proceeds from exercise of stock options and warrants	`ProceedsFromWarrantExercises`	-	USD	1 Quarter
Payments on capital lease obligation	`RepaymentsOfDebtAndCapitalLeaseObligations`	$9.87K	USD	1 Quarter
Payments on capital lease obligation	`RepaymentsOfDebtAndCapitalLeaseObligations`	$24.07K	USD	1 Quarter
Net cash provided by (used in) in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.53M	USD	1 Quarter
Net cash provided by (used in) in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-9.87K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.04M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-777.43K	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.92M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.05M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.27M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.88M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$6.92M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.05M	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`	$5.88M	USD	Point-in-time
Cash payments for interest	`InterestPaid`	$111.28K	USD	1 Quarter
Cash payments for interest	`InterestPaid`	$755.00	USD	1 Quarter
Cash payments for income taxes	`IncomeTaxesPaidNet`	$4.45K	USD	1 Quarter
Cash payments for income taxes	`IncomeTaxesPaidNet`	$8.20K	USD	1 Quarter
Restricted common stock grant	`SupplementalNonCashRestrictedCommonStockGrant`	$70.00	USD	1 Quarter
Restricted common stock grant	`SupplementalNonCashRestrictedCommonStockGrant`	$87.00	USD	1 Quarter
Conversion of secured convertible note into common stock	`DebtConversionConvertedInstrumentAmount1`	-	USD	1 Quarter
Conversion of secured convertible note into common stock	`DebtConversionConvertedInstrumentAmount1`	$7.74M	USD	1 Quarter

Stockholders Equity 8 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$16.87M	USD	Point-in-time
Balance	`StockholdersEquity`	$18.76M	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions`	$425.83K	USD	1 Quarter
Restricted common stock grant	`StockIssuedDuringPeriodValueRestrictedStockAwardGross`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.31M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-6.41M	USD	1 Quarter
Balance	`StockholdersEquity`	$16.87M	USD	Point-in-time
Balance	`StockholdersEquity`	$18.76M	USD	Point-in-time

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