Kustom Entertainment, Inc 8-K, filed Apr 5, 2024
Kustom Entertainment, Inc. (KUST)
About this 8-K
Kustom Entertainment, Inc filed this 8-K on April 5, 2024.
Items reported
- Item 5.03: Charter or bylaw amendment, or fiscal year change
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Item 5.03 Amendments to Articles of Incorporation or Bylaws; Changes in Fiscal Year.
On April 5, 2024, Digital Ally, Inc., a Nevada corporation (the “Company”), filed with the Secretary of State of the State of Nevada an Elimination of Certificate of Designations of the Preferences, Rights and Limitations of the Series A Convertible Redeemable Preferred Stock (the “Series A Elimination Certificate”) and Elimination of Certificate of Designations of the Preferences, Rights and Limitations of the Series B Convertible Redeemable Preferred Stock (the “Series B Elimination Certificate”) in order to eliminate and cancel all designations, rights, preferences and limitations of the shares of the Company’s Series A Convertible Redeemable Preferred Stock, par value $0.001 per share (the “Series A Preferred Stock”) and Series B Convertible Redeemable Preferred Stock, par value $0.001 per share (the “Series B Preferred Stock”). In December 2022, all 1,400,000 shares of Series A Preferred Stock that had originally been issued pursuant to the Certificate of Designations of the Preferences, Rights and Limitations of the Series A Preferred Stock of the Company (the “Series A Certificate of Designations”) and all 100,000 shares of Series B Preferred Stock that had originally been issued pursuant to the Certificate of Designations of the Preferences, Rights and Limitations of the Series B Preferred Stock of the Company (the “Series B Certificate of Designations”) were exchanged for shares of the Company’s common stock and warrants to purchase shares of the Company’s common stock. Such shares of Series A Preferred Stock and Series B Preferred Stock have resumed the status of authorized but unissued shares of preferred stock of the Company.
Prior to the filing of the Series A Elimination Certificate, none of the 1,400,000 authorized shares of Series A Preferred Stock or 100,000 authorized shares of Series B Preferred Stock were issued and outstanding, and no shares of Series A Preferred Stock or Series B Preferred Stock were to be issued subject to the Series A Certificate of Designations or Series B Certificate of Designations. The Series A Elimination Certificate and Series B Elimination Certificate became effective upon their filing with the Secretary of State of the State of Nevada.
The foregoing description of the Series A Elimination Certificate and Series B Elimination Certificate is not complete and is subject to and qualified in its entirety by reference to the Series A Elimination Certificate and Series B Elimination Certificate, copies of which are attached to this Current Report on Form 8-K as Exhibit 3.1 and 3.2, and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| 3.1 | Series A Elimination Certificate. | |
| 3.2 | Series B Elimination Certificate | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: April 5, 2024
| Digital Ally, Inc. | ||
| By: | /s/ Stanton E. Ross | |
| Name: | Stanton E. Ross | |
| Title: | Chairman and Chief Executive Officer | |
Exhibit 3.1
DIGITAL ALLY, INC.
CERTIFICATE OF WITHDRAWAL
OF THE
CERTIFICATE OF DESIGNATIONS
OF THE
SERIES A CONVERTIBLE REDEEMABLE PREFERRED STOCK
AND
SERIES B CONVERTIBLE REDEEMABLE PREFERRED STOCK
Digital Ally, Inc., a Nevada corporation (the “Corporation”), does hereby certify as follows:
First: Pursuant to the authority vested in the Board of Directors (the “Board of Directors”) of the Corporation by the Articles of Incorporation (as amended from time to time, the “Articles of Incorporation”), the Board previously adopted resolutions creating and authorizing the following series of preferred stock:
(i) 1,400,000 shares of Series A Convertible Redeemable Preferred Stock (the “Series A Preferred Stock”), subject to the Certificate of Designations for Series A Convertible Redeemable Preferred Stock (the “Series A Certificate of Designations”), as filed with the Secretary of State of the State of Nevada on October 17, 2022;
(ii) 100,000 shares of Series B Convertible Redeemable Preferred Stock (the “Series B Preferred Stock”), subject to the Certificate of Designation of Series B Convertible Redeemable Preferred Stock (the “Series B Certificate of Designation” and, together with the Series A Certificate of Designations, the “Certificates of Designations”), as filed with the Secretary of State of the State of Nevada on October 17, 2022.
Second: None of the authorized shares of the Series A Preferred Stock are outstanding and none will be issued pursuant to the Series A Certificate of Designations and none of the authorized shares of the Series B Preferred Stock are outstanding and none will be issued pursuant to the Series B Certificate of Designation.
Third: Pursuant to the authority conferred upon the Board of Directors pursuant to the Certificate of Incorporation, the Board of Directors adopted resolutions on April 5, 2024, approving the elimination of each of the Series A Preferred Stock and Series B Preferred Stock as set forth herein:
RESOLVED, that none of the authorized shares of each of the Series A Preferred Stock and Series B Preferred Stock are outstanding and none will be issued pursuant to the Certificates of Designations;
RESOLVED, that, upon filing the Certificate of Withdrawals with the Secretary of State of the State of Nevada, all matters set forth in the Certificates of Designations shall be eliminated from the Articles of Incorporation with respect to each of the Series A Preferred Stock and Series B Preferred Stock; and
RESOLVED, that the officers of the Corporation be, and each of them hereby is, authorized and directed, in the name and on behalf of the Corporation, to prepare, execute and deliver to the Secretary of State of the State of Nevada the Certificate of Elimination as required by the Nevada Revised Statutes (the “NRS”) in order to effect the cancellation and elimination of each of the Series A Preferred Stock and Series B Preferred Stock, and any and all documents required to be filed therewith.
Fourth: In accordance with Section 78.1955(6) of the NRS, the Articles of Incorporation as effective immediately prior to the filing of this Certificate of Elimination is hereby amended to eliminate all references to each of the Series A Preferred Stock and Series B Preferred Stock.
[Signature Page Follows]
IN WITNESS WHEREOF, this Certificate of Withdrawal of the Series A Convertible Redeemable Preferred Stock and Series B Convertible Redeemable Preferred Stock of Digital Ally, Inc. has been executed by a duly authorized officer of the Corporation on this 5th day of April, 2024.
| /s/ Stanton E. Ross | |
Stanton E. Ross Chairman and CEO |
Signature Page to the Certificate of Withdrawal
Exhibit 3.2
DIGITAL ALLY, INC.
CERTIFICATE OF WITHDRAWAL
OF THE
CERTIFICATE OF DESIGNATIONS
OF THE
SERIES A CONVERTIBLE REDEEMABLE PREFERRED STOCK
AND
SERIES B CONVERTIBLE REDEEMABLE PREFERRED STOCK
Digital Ally, Inc., a Nevada corporation (the “Corporation”), does hereby certify as follows:
First: Pursuant to the authority vested in the Board of Directors (the “Board of Directors”) of the Corporation by the Articles of Incorporation (as amended from time to time, the “Articles of Incorporation”), the Board previously adopted resolutions creating and authorizing the following series of preferred stock:
(i) 1,400,000 shares of Series A Convertible Redeemable Preferred Stock (the “Series A Preferred Stock”), subject to the Certificate of Designations for Series A Convertible Redeemable Preferred Stock (the “Series A Certificate of Designations”), as filed with the Secretary of State of the State of Nevada on October 17, 2022;
(ii) 100,000 shares of Series B Convertible Redeemable Preferred Stock (the “Series B Preferred Stock”), subject to the Certificate of Designation of Series B Convertible Redeemable Preferred Stock (the “Series B Certificate of Designation” and, together with the Series A Certificate of Designations, the “Certificates of Designations”), as filed with the Secretary of State of the State of Nevada on October 17, 2022.
Second: None of the authorized shares of the Series A Preferred Stock are outstanding and none will be issued pursuant to the Series A Certificate of Designations and none of the authorized shares of the Series B Preferred Stock are outstanding and none will be issued pursuant to the Series B Certificate of Designation.
Third: Pursuant to the authority conferred upon the Board of Directors pursuant to the Certificate of Incorporation, the Board of Directors adopted resolutions on April 5, 2024, approving the elimination of each of the Series A Preferred Stock and Series B Preferred Stock as set forth herein:
RESOLVED, that none of the authorized shares of each of the Series A Preferred Stock and Series B Preferred Stock are outstanding and none will be issued pursuant to the Certificates of Designations;
RESOLVED, that, upon filing the Certificate of Withdrawals with the Secretary of State of the State of Nevada, all matters set forth in the Certificates of Designations shall be eliminated from the Articles of Incorporation with respect to each of the Series A Preferred Stock and Series B Preferred Stock; and
RESOLVED, that the officers of the Corporation be, and each of them hereby is, authorized and directed, in the name and on behalf of the Corporation, to prepare, execute and deliver to the Secretary of State of the State of Nevada the Certificate of Elimination as required by the Nevada Revised Statutes (the “NRS”) in order to effect the cancellation and elimination of each of the Series A Preferred Stock and Series B Preferred Stock, and any and all documents required to be filed therewith.
Fourth: In accordance with Section 78.1955(6) of the NRS, the Articles of Incorporation as effective immediately prior to the filing of this Certificate of Elimination is hereby amended to eliminate all references to each of the Series A Preferred Stock and Series B Preferred Stock.
[Signature Page Follows]
IN WITNESS WHEREOF, this Certificate of Withdrawal of the Series A Convertible Redeemable Preferred Stock and Series B Convertible Redeemable Preferred Stock of Digital Ally, Inc. has been executed by a duly authorized officer of the Corporation on this 5th day of April, 2024.
| /s/ Stanton E. Ross | |
| Stanton E. Ross | |
| Chairman and CEO |
Signature Page to the Certificate of Withdrawal