Entry into a Material Definitive


 


On
Wednesday, December 10, 2020, Digital Ally, Inc. (the “Company”) received notification from First-Citizens Bank &
Trust Company (“First-Citizens”) of partial forgiveness of the loan (the “Loan”) that it had obtained
on May 4, 2020 from First-Citizens under the U.S. Small Business Administration (“SBA”) Paycheck Protection Program
in the amount of $1,418,900 after the Company previously applied for forgiveness of the Loan. The amount of forgiveness remitted
to First-Citizens by the SBA was $1,418,900, which was reduced by a $10,000 Economic Injury Disaster Loan advance that the Company
received and which is the remaining balance of the Loan.


 


I

tem
8.01 Other Events.


 


The
information set forth in Item 1. 01 above is incorporated by reference into this Item 8.01.


 



 


 



 


SIGNATURES


 


Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.


 


Date:

December 14, 2020


 




 


Digital
Ally, Inc.



 


 


 



 


By:


/s/

Stanton E. Ross



 


Name:


Stanton E. Ross



 


Title:


Chairman, President and Chief Executive Officer



 



 



 


 



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