<SEC-DOCUMENT>0001553350-20-000176.txt : 20200224
<SEC-HEADER>0001553350-20-000176.hdr.sgml : 20200224
<ACCEPTANCE-DATETIME>20200224171511
ACCESSION NUMBER:		0001553350-20-000176
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20200221
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20200224
DATE AS OF CHANGE:		20200224

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DUOS TECHNOLOGIES GROUP, INC.
		CENTRAL INDEX KEY:			0001396536
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-PREPACKAGED SOFTWARE [7372]
		IRS NUMBER:				650493217
		STATE OF INCORPORATION:			FL
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39227
		FILM NUMBER:		20645483

	BUSINESS ADDRESS:	
		STREET 1:		6622 SOUTHPOINT DRIVE S
		STREET 2:		SUITE 310
		CITY:			JACKSONVILLE
		STATE:			FL
		ZIP:			32216
		BUSINESS PHONE:		904-296-2807

	MAIL ADDRESS:	
		STREET 1:		6622 SOUTHPOINT DRIVE S
		STREET 2:		SUITE 310
		CITY:			JACKSONVILLE
		STATE:			FL
		ZIP:			32216

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DUOS TECHNOLOGY GROUP, INC.
		DATE OF NAME CHANGE:	20150710

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INFORMATION SYSTEMS ASSOCIATES, INC.
		DATE OF NAME CHANGE:	20070416
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>duot_8k.htm
<DESCRIPTION>CURRENT REPORT
<TEXT>
<!doctype html public "-//IETF//DTD HTML//EN">
<HTML>
<HEAD>
<TITLE>Current Report</TITLE>
<META NAME="author" CONTENT="Edgar">
<META NAME="date" CONTENT="01/19/2018">
</HEAD>
<BODY style="margin-top:0;font-family:Times New Roman; font-size:10pt; color:#000000">
<P style="margin-top:0px; margin-bottom:8.867px">&nbsp;</P>
<P style="margin-top:0px; margin-bottom:8.867px"><BR></P>
<P style="line-height:1pt; margin:0px; font-size:12pt" align=center><B>&nbsp;</B></P>
<P style="margin-top:0px; margin-bottom:2.2px; padding-bottom:4px; border-bottom:4px solid #000000" align=right>&nbsp;</P>
<P style="margin-top:0px; margin-bottom:8.867px; padding-top:4px; border-top:1.333px solid #000000" align=right>&nbsp;</P>
<P style="margin:0px; font-size:12pt" align=center><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B></P>
<P style="margin:0px" align=center><B>Washington, D.C. 20549</B></P>
<P style="line-height:8pt; margin:0px" align=center><BR></P>
<P style="margin:0px" align=center>&#151;&#151;&#151;&#151;&#151;&#151;</P>
<P style="line-height:8pt; margin:0px" align=center><BR></P>
<P style="margin:0px; font-size:12pt" align=center><B>FORM 8-K</B></P>
<P style="line-height:8pt; margin:0px" align=center><BR></P>
<P style="margin:0px" align=center>&#151;&#151;&#151;&#151;&#151;&#151;</P>
<P style="line-height:8pt; margin:0px" align=center><BR></P>
<P style="margin:0px" align=center><B>CURRENT REPORT</B></P>
<P style="line-height:8pt; margin:0px" align=center><BR></P>
<P style="margin:0px" align=center><B>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</B></P>
<P style="line-height:8pt; margin:0px" align=center><BR></P>
<P style="margin:0px" align=center><B>Date of Report (Date of earliest event reported): &nbsp;February 21, 2020</B></P>
<P style="line-height:8pt; margin:0px" align=center><BR></P>
<P style="margin:0px" align=center>&#151;&#151;&#151;&#151;&#151;&#151;</P>
<P style="line-height:8pt; margin:0px" align=center><BR></P>
<P style="margin:0px; font-size:16pt" align=center><B>Duos Technologies Group, Inc.</B></P>
<P style="margin:0px; font-size:8pt" align=center><I>(Exact name of registrant as specified in its charter)</I></P>
<P style="line-height:8pt; margin:0px" align=center><BR></P>
<P style="margin:0px" align=center>&#151;&#151;&#151;&#151;&#151;&#151;</P>
<P style="line-height:8pt; margin:0px" align=center><BR></P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0 align=center><TR height=0 style="font-size:0"><TD width=208.133 /><TD width=207.933 /><TD width=207.933 /></TR>
<TR><TD style="margin-top:0px" valign=top width=208.133><P style="margin:0px" align=center><B>Florida</B></P>
</TD><TD style="margin-top:0px" valign=top width=207.933><P style="margin:0px" align=center><B>001-39227</B></P>
</TD><TD style="margin-top:0px" valign=top width=207.933><P style="margin:0px" align=center><B>65-0493217</B></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=208.133><P style="margin:0px; font-size:8pt" align=center><I>(State or Other Jurisdiction</I></P>
</TD><TD style="margin-top:0px" valign=top width=207.933><P style="margin:0px; font-size:8pt" align=center><I>(Commission</I></P>
</TD><TD style="margin-top:0px" valign=top width=207.933><P style="margin:0px; font-size:8pt" align=center><I>(I.R.S. Employer</I></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=208.133><P style="margin:0px; font-size:8pt" align=center><I>of Incorporation)</I></P>
</TD><TD style="margin-top:0px" valign=top width=207.933><P style="margin:0px; font-size:8pt" align=center><I>File Number)</I></P>
</TD><TD style="margin-top:0px" valign=top width=207.933><P style="margin:0px; font-size:8pt" align=center><I>Identification No.)</I></P>
</TD></TR>
</TABLE>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center><B>6622 Southpoint Drive S., Suite 310</B></P>
<P style="margin:0px" align=center><B>Jacksonville, Florida 32216</B></P>
<P style="margin:0px; font-size:8pt" align=center><I>(Address of Principal Executive Office) (Zip Code)</I></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center><B>(904) 652-1601</B></P>
<P style="margin:0px; font-size:8pt" align=center><I>(Registrant&#146;s telephone number, including area code)</I></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center><I>____________________________________________________</I></P>
<P style="margin:0px; font-size:8pt" align=center><I>(Former Name or Address, if Changed Since Last Report)</I></P>
<P style="margin-top:8.867px; margin-bottom:0px" align=justify>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:</P>
<P style="margin-top:8.867px; margin-bottom:0px; font-family:Wingdings" align=justify>&#168;<FONT style="font-family:Times New Roman"> Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></P>
<P style="margin-top:8.867px; margin-bottom:0px; font-family:Wingdings" align=justify>&#168;<FONT style="font-family:Times New Roman"> Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></P>
<P style="margin-top:8.867px; margin-bottom:0px; font-family:Wingdings" align=justify>&#168;<FONT style="font-family:Times New Roman"> Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></P>
<P style="margin-top:8.867px; margin-bottom:0px; font-family:Wingdings" align=justify>&#168;<FONT style="font-family:Times New Roman"> Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></P>
<P style="line-height:6pt; margin:0px" align=justify><BR></P>
<P style="margin:0px">Securities registered pursuant to Section 12(b) of the Act:</P>
<P style="line-height:6pt; margin:0px" align=justify>&nbsp;</P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0 align=center><TR height=0 style="font-size:0"><TD width=212 /><TD width=6 /><TD width=199 /><TD width=6 /><TD width=199 /></TR>
<TR><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=212><P style="margin:0px; font-size:8pt" align=center><B>Title of each class</B></P>
</TD><TD style="margin-top:0px" valign=bottom width=6><P style="margin:0px; font-size:8pt" align=center>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=199><P style="margin:0px; font-size:8pt" align=center><B>Trading Symbol(s)</B></P>
</TD><TD style="margin-top:0px" valign=bottom width=6><P style="margin:0px; font-size:8pt" align=center>&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=199><P style="margin:0px; font-size:8pt" align=center><B>Name of each exchange on which registered</B></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=212><P style="margin:0px" align=center>Common Stock</P>
</TD><TD style="margin-top:0px" valign=top width=6><P style="margin:0px">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=199><P style="margin:0px" align=center>DUOT</P>
</TD><TD style="margin-top:0px" valign=top width=6><P style="margin:0px">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=199><P style="margin:0px" align=center>Nasdaq Capital Market</P>
</TD></TR>
</TABLE>
<P style="line-height:6pt; margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify>Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</P>
<P style="line-height:6pt; margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify>Emerging growth company &nbsp;<FONT style="font-family:Wingdings">&#168;</FONT></P>
<P style="line-height:6pt; margin:0px"><BR></P>
<P style="margin:0px" align=justify>If an emerging growth company, indicate by checkmark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.&nbsp;<FONT style="font-family:Wingdings">&#168;</FONT></P>
<P style="line-height:6pt; margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:2.2px; padding-bottom:4px; border-bottom:1.333px solid #000000">&nbsp;</P>
<P style="margin:0px; padding-top:4px; border-top:4px solid #000000">&nbsp;</P>
<P style="margin:0px"><BR></P>
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<BR></P>
<P style="margin-top:0px; margin-bottom:8.867px" align=center><BR></P>
<P style="margin-top:0px; margin-bottom:8.867px"><BR></P>
<HR style="margin-bottom:9.6px; padding-top:9.6px" noshade size=1.333>
<P style="margin-top:0px; margin-bottom:8.867px; page-break-before:always">&nbsp;</P>
<P style="margin-top:0px; margin-bottom:8.867px"><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:0.333px; width:72px; float:left"><B>Item 8.01</B></P>
<P style="margin:0px; padding-left:0.333px; text-indent:-2px"><B>Other Events.</B></P>
<P style="margin:0px; clear:left" align=justify><BR></P>
<P style="margin:0px" align=justify>As previously reported, Duos Technologies Group, Inc., a Florida corporation (the <font style='font-family:Arial Unicode MS,Times New Roman'>&#8220;</font>Company<font style='font-family:Arial Unicode MS,Times New Roman'>&#8221;</font>) entered into an Underwriting Agreement dated as of February 12, 2020 (the <font style='font-family:Arial Unicode MS,Times New Roman'>&#8220;</font>Underwriting Agreement<font style='font-family:Arial Unicode MS,Times New Roman'>&#8221;</font>) with ThinkEquity, a division of Fordham Financial Management, Inc., as representative of the underwriters listed therein (the &#147;Underwriters&#148;), pursuant to which the Company agreed to sell to the Underwriters in a firm commitment underwritten public offering (the &#147;Offering&#148;) an aggregate of 1,350,000 shares of the Company&#146;s common stock, par value $0.001 per share (the &#147;Common Stock&#148;), at a public offering price of $6.00 per share. In addition, the Underwriters were granted an over-allotment option (the &#147;Over-allotment Option&#148;) for a period of 45 days to purchase up to an additional 202,500 shares of Common Stock to cover over-allotments, if any. The Common Stock was offered and sold to the public pursuant to the Company&#146;s registration statement on&nbsp;Form S-1&nbsp;(File No. 333-235455), filed by the Company with the Securities and Exchange Commission on December 11, 2019, as amended, which became effective on February 12, 2020. </P>
<P style="margin:0px; text-indent:48px" align=justify>&nbsp;</P>
<P style="margin:0px" align=justify>On February 20, 2020, pursuant to and in compliance with the terms and conditions of the Underwriting Agreement and the Offering, the Underwriters provided notice that they would partially exercise the Over-allotment Option to purchase 192,188 shares of Common Stock at $6.00 per share&nbsp;(the &#147;Over-Allotment Exercise&#148;).&nbsp;The sale of the Over-Allotment Exercise to purchase 192,188 shares of Common Stock closed on February 21, 2020. The Company has received gross proceeds of approximately $9.25 million for the Offering to date, including the exercise of the Over-Allotment Exercise, prior to deducting underwriting discounts and commissions and offering expenses payable by the Company.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify>On February 21, 2020, the Company issued a press release announcing the Over-Allotment Exercise. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.</P>
<P style="line-height:11pt; margin:0px" align=justify><BR></P>
<P style="line-height:11pt; margin-top:0px; margin-bottom:-2px; width:72px; float:left"><B>Item 9.01 </B></P>
<P style="line-height:11pt; margin:0px; text-indent:-2px" align=justify><B>Financial Statements and Exhibits.</B>&nbsp;</P>
<P style="line-height:11pt; margin:0px; clear:left" align=justify>&nbsp;</P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:0"><TD width=24 /><TD width=599.6 /></TR>
<TR><TD style="margin-top:0px" valign=top width=24><P style="line-height:11pt; margin:0px">(d)</P>
</TD><TD style="margin-top:0px" valign=top width=599.6><P style="line-height:11pt; margin:0px">Exhibits<I>.</I></P>
</TD></TR>
</TABLE>
<P style="line-height:11pt; margin:0px">&nbsp;</P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0 width=100%><TR height=0 style="font-size:0"><TD width=49.867 /><TD width=6.267 /><TD /></TR>
<TR><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom width=49.867><P style="margin:0px; font-size:8pt"><B>Exhibit Number</B></P>
</TD><TD style="margin-top:0px" valign=bottom width=6.267><P style="margin:0px; font-size:8pt"><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom><P style="margin:0px; font-size:8pt"><B>Description</B></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=49.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=6.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCFFCC" valign=top width=49.867><P style="margin:0px">99.1</P>
</TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=bottom width=6.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCFFCC" valign=top><P style="margin:0px">Press Release dated February 21, 2020</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=49.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=6.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=49.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=6.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
</TABLE>
<P style="margin:0px" align=justify>&nbsp;</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=center><BR>
<BR></P>
<P style="margin-top:0px; margin-bottom:8.867px" align=center>2</P>
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<P style="margin-top:0px; margin-bottom:8.867px; page-break-before:always">&nbsp;</P>
<P style="margin-top:0px; margin-bottom:8.867px"><BR></P>
<P style="margin:0px" align=center><B>SIGNATURES</B></P>
<P style="margin-top:8.867px; margin-bottom:0px">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.</P>
<P style="margin-top:9.8px; margin-bottom:0px"><BR></P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0 width=100%><TR height=0 style="font-size:0"><TD /><TD width=42.333 /><TD width=248 /></TR>
<TR><TD style="margin-top:0px" valign=top><P style="margin:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=290.333 colspan=2><P style="margin:0px"><B>DUOS TECHNOLOGIES GROUP, INC.</B></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=42.333><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=248><P style="margin:0px">&nbsp;&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=42.333><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=248><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top><P style="margin:0px">Dated: February 24, 2020</P>
</TD><TD style="margin-top:0px" valign=top width=42.333><P style="margin:0px">By:&nbsp;&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=top width=248><P style="margin:0px">/s/&nbsp;<I>Adrian Goldfarb</I></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=42.333><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=248 rowspan=2><P style="margin:0px">Adrian Goldfarb</P>
<P style="margin:0px">Chief Financial Officer</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=42.333><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
</TABLE>
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<BR></P>
<P style="margin-top:0px; margin-bottom:8.867px" align=center>3</P>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>duot_ex99z1.htm
<DESCRIPTION>PRESS RELEASE
<TEXT>
<!doctype html public "-//IETF//DTD HTML//EN">
<HTML>
<HEAD>
<TITLE>Press Release</TITLE>
<META NAME="author" CONTENT="Allison Soss">
<META NAME="date" CONTENT="02/24/2020">
</HEAD>
<BODY style="margin-top:0;font-family:Times New Roman; font-size:10pt; color:#000000">
<P style="margin:0px; font-family:Calibri,Times New Roman; font-size:11pt">&nbsp;</P>
<P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
<P style="margin-top:0px; margin-bottom:11.133px" align=right><B>EXHIBIT 99.1</B></P>
<P style="margin-top:0px; margin-bottom:20px; font-family:Arial Black,Arial; font-size:18pt; color:#0000FF">duos<FONT style="color:#000000">tech</FONT></P>
<P style="margin-top:0px; margin-bottom:20px; font-family:Calibri,Times New Roman; font-size:18pt" align=center><B>Duos Technologies Announces Exercise of Over-Allotment Option</B></P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:13.333px; font-family:Calibri,Times New Roman; font-size:12pt"><B>Jacksonville, FL / Accesswire / February 21, 2020 - </B></P>
<P style="margin-top:0px; margin-bottom:13.333px; font-family:Calibri,Times New Roman; font-size:12pt" align=justify><FONT style="background-color:#FFFFFF">Duos Technologies Group, Inc. (NASDAQ:DUOT) (&quot;Duos&quot; or the &quot;Company&quot;), a provider of intelligent analytical technology solutions, today announced that, in connection with its previously announced underwritten public offering of its shares of common stock, the underwriters have partially exercised and closed on their over-allotment option and purchased an additional 192,188 shares of common stock from the Company at a price of $6.00 per share. The Company received approximately $1.06 million in additional net proceeds from the sale of these shares, after deducting the underwriting discount.</FONT></P>
<P style="margin-top:0px; margin-bottom:13.333px; font-family:Calibri,Times New Roman; font-size:12pt" align=justify><FONT style="background-color:#FFFFFF">The Company intends to use the net proceeds from the offering for research and development activities, sales and marketing, and for general working capital purposes.</FONT></P>
<P style="margin-top:0px; margin-bottom:13.333px; font-family:Calibri,Times New Roman; font-size:12pt" align=justify><FONT style="background-color:#FFFFFF">ThinkEquity, a division of Fordham Financial Management, Inc., acted as sole book-running manager for the offering and The Benchmark Company acted as co-manager for the offering.</FONT></P>
<P style="margin-top:0px; margin-bottom:13.333px; font-family:Calibri,Times New Roman; font-size:12pt" align=justify><FONT style="background-color:#FFFFFF">The Securities and Exchange Commission declared effective a registration statement on Form S-1 relating to these securities on February 12, 2020. A final prospectus relating to this offering has been filed with the Securities and Exchange Commission. The offering was made only by means of a prospectus. Copies of the final prospectus relating to the offering may be obtained by contacting ThinkEquity, 17 State Street, 22nd Floor, New York, NY 10004, telephone (877) 436-3673, email: prospectus@think-equity.com and is available on the SEC's website at www.sec.gov.</FONT></P>
<P style="margin-top:0px; margin-bottom:13.333px; font-family:Calibri,Times New Roman; font-size:12pt" align=justify><FONT style="background-color:#FFFFFF">This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.</FONT></P>
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<P style="margin:0px; font-family:Calibri,Times New Roman; font-size:11pt" align=justify><B>About Duos Technologies Group, Inc.</B></P>
<P style="margin-top:0px; margin-bottom:12.2px; font-family:Calibri,Times New Roman; font-size:11pt" align=justify>Duos Technologies Group, Inc. (<FONT style="background-color:#FFFFFF">Nasdaq: DUOT</FONT>), based in Jacksonville, Florida, through its wholly owned subsidiary, Duos Technologies, Inc., provides advanced, analytical technology solutions with a strong portfolio of intellectual property. The Company's core competencies include intelligent technologies that combine machine learning, artificial intelligence and advanced video analytics that are delivered through its proprietary integrated enterprise command and control centraco&#174; platform. The Company provides its broad range of technology solutions with an emphasis on mission critical security, inspection and operations within the rail transportation, retail, petrochemical, government, and banking sectors. Duos Technologies also offers professional and consulting services for large data centers. For more information, visit <U>www.duostech.com</U><U></U>.&nbsp;</P>
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<P style="margin-top:0px; margin-bottom:7.333px; font-family:Calibri,Times New Roman; font-size:11pt" align=justify><B><I>Forward Looking Statements</I></B></P>
<P style="margin-top:0px; margin-bottom:7.333px; font-family:Calibri,Times New Roman; font-size:11pt" align=justify><I>This press release contains &#147;forward-looking statements&#148; within the meaning of the Private Securities Litigation Reform Act of 1995.&nbsp; Forward-looking terminology such as &#147;believes,&#148; &#147;expects,&#148; &#147;may,&#148; &#147;will,&#148; &#147;should,&#148; &#147;anticipates,&#148; &#147;plans,&#148; or similar expressions or the negative of these terms and similar expressions are intended to identify forward-looking statements. Such statements are subject to certain risks and uncertainties, which could cause Duos Technologies Group, Inc.&#146;s actual results to differ materially from those anticipated by the forward-looking statements. These risks and uncertainties include, but are not limited to, those described in Item 1A in Duos&#146; Annual Report on Form 10-K, which is expressly incorporated herein by reference, and other factors as may periodically be described in Duos&#146; filings with the SEC.</I></P>
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<TR><TD style="margin-top:0px" valign=top width=313.4><P style="margin-top:0px; margin-bottom:8px; font-family:Calibri,Times New Roman; font-size:12pt" align=justify><B>Contacts:</B></P>
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<TR><TD style="margin-top:0px" valign=top width=313.4><P style="margin:0px; font-family:Calibri,Times New Roman; font-size:12pt" align=justify><B>Corporate</B></P>
<P style="margin-top:0px; margin-bottom:8px; font-family:Calibri,Times New Roman; font-size:12pt">Tracie Hutchins</P>
<P style="margin-top:0px; margin-bottom:8px; font-family:Calibri,Times New Roman; font-size:12pt">Duos Technologies Group, Inc.<BR>
(904) 652-1601<BR>
<FONT style="color:#0000FF"><U>tlh@duostech.com</U></FONT></P>
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<P style="margin-top:0px; margin-bottom:8px; font-family:Calibri,Times New Roman; font-size:12pt"><B>Investor Relations</B></P>
<P style="margin-top:0px; margin-bottom:8px; font-family:Calibri,Times New Roman; font-size:12pt">Matt Glover or Tom Colton</P>
<P style="margin:0px; font-family:Calibri,Times New Roman; font-size:12pt">Gateway Investor Relations</P>
<P style="margin:0px; font-family:Calibri,Times New Roman; font-size:12pt">(949) 574-3860</P>
<P style="margin:0px; font-family:Calibri,Times New Roman; font-size:12pt; color:#0000FF"><U>DUOT@GatewayIR.com</U><FONT style="color:#000000"> </FONT></P>
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