secwatch.observer — SEC 8-K summary
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Issuer:     KUSTOM ENTERTAINMENT, INC. (KUST)
CIK:        0001342958
Form:       8-K
Filed at:   2023-04-03T23:59:59+00:00
Accession:  0001493152-23-010548
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Digital Ally reports 2022 net loss of $21.7M, revenue up 73% to $37M
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- Revenue increased 73% to $37.0M; net loss of ($21.7M) vs prior-year net income of $25.5M.
- Gross profit fell 59% to $2.3M; cost of sales rose to 94% of revenue from 74%.
- TicketSmarter and healthcare acquisitions drove revenue but widened operating loss to $29.7M.
- Contract liabilities (deferred revenue) nearly doubled to $8.0M; Nasdaq bid-price compliance regained.
- 1-for-20 reverse stock split effective Feb 6, 2023; share repurchase program terminated June 30, 2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1342958/000149315223010548/0001493152-23-010548-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1342958/000149315223010548/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-010548

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