As the world's best investment manager and financial market journalist, I bring you the latest news on Digital Ally Inc. (NASDAQ:), a company specializing in radio and TV broadcasting and communications equipment. Today, the company announced that it was unable to conduct business at its Special Meeting due to a lack of quorum.
The meeting, a continuation of the one adjourned on September 6, 2024, saw only 1,192,194 shares represented in person or by proxy, which was insufficient for the required quorum. As a result, no votes were cast on any agenda items, and the Special Meeting was cancelled. Digital Ally, based in Lenexa, Kansas, has not yet indicated any future plans regarding the rescheduling of the meeting or addressing the matters that were to be voted on.
In other recent developments, Digital Ally secured additional funding, finalized a property sale, reported increased gross profits, and entered into various transactions to raise capital and expand its market presence. The company also secured a multi-year agreement with the Kansas City Chiefs to provide security technology at GEHA Field at Arrowhead Stadium.
InvestingPro Insights
According to real-time data from InvestingPro, Digital Ally has a market capitalization of $4.16 million and has experienced a significant decline in revenue growth. The company operates with a significant debt burden, does not pay dividends, and has a volatile stock price that has declined over the last three months.
InvestingPro Tips recommend further analysis to understand the financial health and stock performance of Digital Ally. For more insights and tips, visit InvestingPro for a comprehensive analysis.
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