Digital Ally completes 1-for-20 reverse split; Nasdaq panel grants continued listing with conditions

KUSTOM ENTERTAINMENT, INC.

Reverse stock split 1-for-20 effective May 6; trading on Nasdaq begins May 7 split-adjusted.
Stockholders approved reverse split; proposal to increase authorized shares to 5.01B failed.
Nasdaq Hearings Panel granted continued listing subject to $2.5M equity by May 20 and $1.00 bid by June 6.
Company warns no assurance it can meet Nasdaq conditions; compliance required through Sep 2, 2025.
Special meeting also approved issuance of Series A and B warrants from Feb 2025 offering.

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