Digital Ally enters $3M private placement of notes and stock; cash runway only ~3 months

KUSTOM ENTERTAINMENT, INC.

Issued $3.6M senior secured notes and 808,377 common shares for $3.0M gross proceeds in private placement on Nov 7.
Net proceeds of ~$2.015M used to repay Mosh Man Note, ending public sale of collateral.
Remaining net proceeds expected to fund operations for only about three months; additional funding needed.
Company plans to sell its video solutions business in the short term to raise cash.
Must file registration statement within 30 days for public offering and resale of shares; proceeds to repay notes.

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