|Over a week ago|
Digital Ally new healthcare business unit acquires medical billing company » 08:4007/0707/07/21
Digital Ally's new…
Digital Ally's new healthcare business unit, Digital Ally Healthcare, has acquired a medical billing company located in the Mid-West with annual revenues of approximately $1.0M. This company provides revenue cycle management services for over 40 physician clients in diverse specialties. Digital Healthcare made the acquisition through its joint venture with Nobility, an eight-year old RCM company servicing the medical industry. The purchase price was $1.2M with approximately 70% paid in cash at the closing and the balance through an earn-out promissory note bearing interest at 3% payable over 30 months. The earnout note is subject to adjustment based on future revenues and client retention of the acquired company.
|Over a month ago|
DOJ directs DEA, FBI, other departments to come up with body-worn camera plans » 09:1806/0806/08/21
In a memorandum dated…
In a memorandum dated June 7, U.S. Deputy Attorney General Lisa Monaco said the Department of Justice is "committed to the use of body-worn cameras, or BWCs, by the Department' s law enforcement agents" in circumstances where the Department's agents encounter the public during pre-planned law enforcement operations. In this context, Monaco is directing the Acting Director of the Bureau of Alcohol, Tobacco, Firearms & Explosives; the Acting Administrator of the Drug Enforcement Administration; the Director of the Federal Bureau o flnvestigation, and the Director of the United States Marshals Service to develop and submit for review, within 30 days, component BWC policies that require agents to wear and activate BWC recording equipment for purposes of recording their actions during: a pre-planned attempt to serve an arrest warrant or other pre-planned arrest, including the apprehension of fugitives sought on state and local warrants; or the execution of a search or seizure warrant or order. Makers of body-worn cameras for law enforcement use include Axon (AXON) and Digital Ally (DGLY). Reference Link
Digital Ally announces formation of Digital Ally Healthcare » 08:4606/0706/07/21
Digital Ally announced…
Digital Ally announced the formation of Digital Ally Healthcare to pursue opportunities in the healthcare industry. This business initiative is part of the Company's strategic plan to diversify its product and service offerings to address larger target markets that have significant growth prospects. Digital Healthcare's goal is to create recurring sources of revenue, expand its profit margins, achieve sustainable positive cash flow and fuel future growth. On June 4, 2021 Digital Healthcare, a wholly-owned subsidiary of the Company, entered into a venture with Nobility LLC, an eight-year old revenue cycle management company servicing the medical industry. Digital Healthcare is capitalizing the venture with $13.5 million to support the venture's business strategy to make acquisitions of RCM companies. Digital Healthcare owns 51% of the venture that entitles it to 51% of the distributable cash as defined in the venture's operating agreement plus a cumulative preferred return of 10% per annum on its invested capital. Nobility will receive a management fee and 49% of the distributable cash, subordinated to Digital Healthcare's preferred return. The venture currently has two target acquisitions under letters of intent and is negotiating for the purchase of another RCM portfolio. The total revenue run rate of these acquisitions is approximately $5.0 million annually with significant profit margins expected after the venture implements cost reductions and economies of scale. The total purchase price of the Targets are approximately $5.0 million with cash at closing expected to average 75% of the purchase prices and the balances generally paid over several years subject to achievement of certain milestones. The closings are expected to occur over the next several months and are subject to final due diligence and negotiation of definitive agreements. Upon completion of the acquisitions the venture will process and submit the medical reimbursement claims of its physician clients to commercial health insurance companies and Medicare/Medicaid for the services the physicians have rendered to their patients so they can receive payments. The venture will receive a percentage of the cash collected for its fees. The RCM agreements with physician clients generally renew automatically on an annual basis. Nobility will manage the venture with certain administrative assistance from Digital Healthcare. Nobility has a deep and experienced management team with many years of combined medical billing experience. It is based in Scottsdale Arizona with an overseas office and staff. Nobility has a proven track record of being able to purchase RCM companies at favorable prices and terms, cut costs and improve client performance levels and profit margins while retaining the client portfolios acquired. Because these are service-based businesses, the largest cost is labor. Nobility has developed the infrastructure and management expertise to cut these costs while providing superior service levels through its management team and staff. Nobility operates an overseas office and staff that provides back-office claims processing, submission and follow-up services which will support the venture's operations. Its overseas labor and office costs are generally much lower when compared to higher cost United States-based staffing and facility costs. We intend to retain United States-based staff members of the acquired RCM companies who have key client facing relationships to provide seamless services and improve client retention levels.
Largest borrow rate increases among liquid names » 08:4506/0306/03/21
ARVL, EOSE, ABCL, PIRS, STEM, XL, FUN, DGLY, TRIT, KGC
Latest data shows the…
Latest data shows the largest indicative borrow rate increases among liquid option names include: Arrival (ARVL) 258.63% +93.66, B Riley Principal Merger Corp II (EOSE) 124.94% +52.24, AbCellera Biologics (ABCL) 67.33% +4.51, Pieris Pharmaceuticals (PIRS) 7.58% +3.83, Stem Inc (STEM) 57.01% +2.70, XL Fleet (XL) 10.56% +2.25, Cedar Fair (FUN) 2.00% +1.52, Digital Ally (DGLY) 33.77% +0.81, Triterras Inc (TRIT) 68.84% +0.79, and Kinross Gold (KGC) 2.25% +0.61.
Largest borrow rate increases among liquid names » 08:4505/1305/13/21
VXRT, ARVL, AI, GENI, FSLY, DGLY, RMO, MNMD, WPRT, TRIT
Latest data shows the…
Latest data shows the largest indicative borrow rate increases among liquid option names include: Vaxart (VXRT) 27.25% +12.79, Arrival (ARVL) 136.01% +3.97, C3 AI (AI) 8.52% +2.23, Genius Sports (GENI) 16.87% +2.00, Fastly Inc (FSLY) 2.43% +2.00, Digital Ally (DGLY) 21.75% +1.74, Romeo Power (RMO) 4.59% +1.62, (MNMD) 25.77% +1.28, Westport (WPRT) 5.10% +1.17, and Triterras Inc (TRIT) 56.94% +0.82.
Digital Ally reports law enforcement contracts for body-worn, in-car systems » 12:1005/1005/10/21
Digital Ally announced it…
Digital Ally announced it has received an upgrade order from Raymore Police Department for eleven EVO-HD in-car video systems and twenty-six FirstVu HD body-worn cameras hosted on the EVO Web Portal cloud platform. This order was purchased with the help of the company's subscription payment program. "We are excited to continue our long-standing relationship with the Raymore PD and its community," said Stan Ross, CEO of Digital Ally, adding, "By choosing to deploy our complete solution, the officers of Raymore will be able to utilize the technology to its fullest by connecting both hardware and software into one evidence management platform. Digital Ally remains committed to serving all first responders and providing the necessary equipment and support needed daily." Additional noteworthy orders recently purchased for Digital Ally products: North Huntingdon Police Department: seventeen EVO-HD in-car systems paired with twenty FirstVu HD body-worn cameras. Hearne Police Department: twelve EVO-HD in-car systems paired with twelve FirstVu HD body-worn cameras.
|Over a quarter ago|
Unusually active option classes on open April 13th » 09:4004/1304/13/21
SNCR, INDA, AGC, GNW, DGLY, JNJ, NUAN, TTD, MO
Unusual total active…
Unusual total active option classes on open include: Synchronoss (SNCR), PowerShares Index (DBC), iShares MSCI India (INDA), Altimeter Growth Corp (AGC), Genworth (GNW), Digital Ally (DGLY), Johnson & Johnson (JNJ), Nuance (NUAN), Trade Desk (TTD), and Altria Group (MO).
Largest borrow rate increases among liquid names » 08:4504/0704/07/21
ADN, VLDR, IPOE, SUNW, DMYD, PRCH, DGLY, HUN, WOOF, NCTY
Latest data shows the…
Latest data shows the largest indicative borrow rate increases among liquid option names include: Advent Technologies (ADN) 50.29% +0.68, Velodyne Lidar (VLDR) 37.05% +0.45, Social Capital Hedosophia V (IPOE) 38.68% +0.43, Sunworks (SUNW) 7.79% +0.36, dMY Technology Group Inc II (DMYD) 7.17% +0.32, Porch Group (PRCH) 1.22% +0.24, Digital Ally (DGLY) 21.62% +0.21, Huntsman (HUN) 0.40% +0.15, Petco (WOOF) 1.17% +0.14, and The 9 Limited (NCTY) 44.92% +0.12.
Digital Ally announces notable domestic and international orders » 08:3504/0504/05/21
Digital Ally announced it…
Digital Ally announced it has received multiple notable contracts for its EVO-HD in-car camera system with built-in auto-activation technology, body-worn cameras and cloud storage solution. Most notable, the Royal Barbados Police Force will equip its fleet of vehicles with the EVO-HD in-car camera system. This order represents the largest international deployment of the Company's EVO-HD system to date. Additional details of this order are undisclosed. Additional noteworthy orders recently purchased for Digital Ally products: Crestwood Police Department ordered eight EVO-HD in-car systems, thirteen FirstVu HD body-worn cameras and full access to the EVO Web Portal cloud storage solution via the subscription plan; Danville Police Department ordered forty FirstVu HD body-worn cameras; and Unnamed Police Department ordered five EVO-HD in-car systems, seventeen FirstVu HD body-worn cameras and full access to the EVO Web Portal cloud storage solution via the subscription plan.
Digital Ally reports 2020 EPS (12c) vs. (87c) last year » 08:4303/3103/31/21
Reports revenue $10.5M…
Reports revenue $10.5M vs. $10.4M last year. Stanton Ross, CEO of Digital Ally, stated, "We are very pleased to report an increase in total revenues together with a 74% improvement in our net loss for 2020 as compared to 2019. Importantly we were able to report improvements in revenue and net loss regardless of the challenges to our legacy business caused by the Covid-19 pandemic during 2020. Our decision not to stand still during the Covid-19 pandemic and proactively expand our product offerings to include the ThermoVU and Shield lines has proven to be successful as they generated approximately $1.65 million in combined revenues during the 2020. We are considering further expansion of the ThermoVU and Shield product lines to include complementary products that we hope they will achieve similar market acceptance. We also reduced our SG&A expensessignificantly by reducing staffing levels, limiting travel and reducing many advertising and promotional activities. In addition, we have improved our balance sheet and liquidity position substantially during 2020 and in early 2021 through several public offerings. These offerings will provide us with the flexibility to take advantage of new business opportunities and to expand our existing business lines.to benefit the Company and its shareholders for 2021 and beyond."