Duos Technologies Group Inc 2024年度报告

☒ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the fiscal year endedDecember 31, 2024 ☐TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from: _____________ to _____________Commission file number:000-55497———————DUOS TECHNOLOGIES GROUP, INC.(Exact name of registrant as specified in its charter)——————— 65-0493217 Florida (I.R.S. Employer Identification No.) (State or Other Jurisdiction of Incorporation) 7660 Centurion Parkway,Suite 100Jacksonville,Florida32256(Address of Principal Executive Offices) (904)296-2807(Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Title of each classTrading Symbol(s)Name of each exchange on which registeredCommon Stock, par value $0.001 per shareDUOTTheNASDAQCapital Market Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.Yes☐No☒ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.Yes☐No☒ Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),and (2) has been subject to such filing requirements for the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that theregistrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reportingcompany, or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reportingcompany,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filer☐Non-accelerated filer☒Emerging growth company☐ Accelerated filer☐Smaller reporting company☒ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectivenessof its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registeredpublic accounting firm that prepared or issued its audit report:☐ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of theregistrant included in the filing reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-basedcompensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act.)Yes☐No☒ The aggregate market value of the registrant’s voting and non-voting common equity held by non-affiliates computed by reference tothe average bid and asked price of such common equity on June 30, 2024, was $13,499,680. As of March 28, 2025, the registrant hasone class of common equity, and the number of shares outstanding of such common equity is11,524,545. Documents Incorporated by Reference:Portions of the Company’s proxy statement for the Annual Meeting of Shareholders to be heldMay 22, 2025 are incorporated by reference into Part III of this report. Such proxy statement will be filed with the Securities andExchange Commission within 120 days of the registrant’s fiscal year ended December 31, 2024. DUOS TECHNOLOGIES GROUP, INC.2024 FORM 10-K ANNUAL REPORT TABLE OF CONTENTS PAGEPART IItem 1.Business1Item 1A.Risk Factors12Item 1B.Unresolved Staff Comments18Item 1C.Cybersecurity18Item 2.Properties18Item 3.Legal Proceedings19Item 4.Mine Safety Disclosures19PART IIItem 5.Market for Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities20Item 6.[Reserved]24Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operation25Item 7A.Quantitative and Qualitative Disclosures About Market Risk33Item 8.Financial Statements and Supplementary Data33Item 9.Changes In and Disagreements With Accountants on Accounting and Financial Disclosure33Item 9A.Controls and Procedures33Item 9B.Other Information33Item 9C.Disclosure Regarding Foreign Jurisdictio