Digital Ally receives default notice over missed $100K payment, faces collateral sale on Nov 5, 2024

KUSTOM ENTERTAINMENT, INC.

Missed $100,000 payment due Oct 10, 2024 triggered default under Senior Secured Promissory Note.
Administrative agent Softforge accelerated all ~$1.6M principal + interest and demands lockbox control.
Softforge scheduled a UCC Article 9 public sale of collateral for Nov 5, 2024 at 11:00 AM ET.
Company disputes defaults and intends to seek injunctive relief and damages.

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