secwatch.observer — SEC 8-K summary
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Issuer:     KUSTOM ENTERTAINMENT, INC. (KUST)
CIK:        0001342958
Form:       8-K
Filed at:   2023-11-15T23:59:59+00:00
Accession:  0001493152-23-041394
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Digital Ally Q3 revenue down 25% to $6.3M; net loss widens to $3.7M
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- Q3 2023 revenue $6.34M, down 25% YoY from $8.48M; gross profit up 106% to $1.23M.
- Net loss attributable to common stockholders $3.71M ($1.32 per share) vs $1.90M ($0.76) in Q3 2022.
- Deferred revenue (contract liabilities) rose to ~$9.9M at Sep 30, 2023 from ~$7.2M a year earlier.
- Announced merger of Kustom Entertainment subsidiary with Clover Leaf (CLOE); expects combined co. to list on Nasdaq.
- $4.88M revolver from Kompass Kapital secured by real property; proceeds to retire existing debt and for working capital.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1342958/000149315223041394/0001493152-23-041394-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1342958/000149315223041394/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-041394

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