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Despite this, the company said it does not expect any significant changes in its financial results for fiscal year 2024.
Shares of Digital Ally Inc. (DGLY) tumbled more than 29% during Monday’s regular trading session after the company announced a delay in filing its annual 10-K report.
In a filing with the U.S. Securities and Exchange Commission (SEC), Digital Ally said the delay is due to “unforeseen” circumstances, adding that the company’s financial information is still undergoing an audit.
“Due to unforeseeable circumstances, financial information to be contained in registrants Form 10-K for the year ended December 31, 2024, cannot be completed on a timely basis,” the company said in its filing.
Despite this, the company said it does not expect any significant changes in its financial results for fiscal year 2024.
The 10-K filing is now expected to be filed within 15 days of the original due date, which was March 31.
Retail sentiment on Stocktwits remained in the ‘bullish’ territory, with message volumes at ‘high’ levels at the time of writing.
One user thinks the sharp decline in Digital Ally and other penny stocks is the result of a “coordinated short attack.”
However, not everyone is feeling bullish about the stock, with one user saying “let some of these bagholders go.”
Digital Ally’s stock has fallen more than 95% year-to-date.
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