Digital Ally (DGLY) Warns Lofty CEO Expectations May Not Be Attainable
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Digital Ally (NASDAQ: DGLY), arguably the hottest stocks in the market right now given its position in the on-officer camera market, warned after the close Friday that revenue expectations recently given by the CEO may not be attainable.
From the Filing:
In an article in USA Today on August 28, 2014, Stanton E. Ross, Chairman, President and Chief Executive Officer of Digital Ally, Inc. (the “Company”) was quoted as stating that the Company’s revenues in fiscal 2014 will approach $22.5 million. Mr. Ross made such forecast based on current and expected level of future activity and other information currently available. He stated that inquiries from potential customers regarding the Company’s audio/video surveillance products had increased approximately fivefold in the period immediately following the events in Ferguson, MO.
There can be no assurance that the Company will achieve the results forecast because, among other factors, they are based largely on its expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond its control.
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