<SEC-DOCUMENT>0001079973-25-000939.txt : 20250528
<SEC-HEADER>0001079973-25-000939.hdr.sgml : 20250528
<ACCEPTANCE-DATETIME>20250528170602
ACCESSION NUMBER:		0001079973-25-000939
CONFORMED SUBMISSION TYPE:	424B5
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20250528
DATE AS OF CHANGE:		20250528

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DUOS TECHNOLOGIES GROUP, INC.
		CENTRAL INDEX KEY:			0001396536
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-PREPACKAGED SOFTWARE [7372]
		ORGANIZATION NAME:           	06 Technology
		EIN:				650493217
		STATE OF INCORPORATION:			FL
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		424B5
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-272603
		FILM NUMBER:		25996358

	BUSINESS ADDRESS:	
		STREET 1:		7660 CENTURION PARKWAY
		STREET 2:		SUITE 100
		CITY:			JACKSONVILLE
		STATE:			FL
		ZIP:			32256
		BUSINESS PHONE:		904-296-2807

	MAIL ADDRESS:	
		STREET 1:		7660 CENTURION PARKWAY
		STREET 2:		SUITE 100
		CITY:			JACKSONVILLE
		STATE:			FL
		ZIP:			32256

	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>424B5
<SEQUENCE>1
<FILENAME>duos_424b5-272603.htm
<DESCRIPTION>PROSPECTUS SUPPLEMENT
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">Filed Pursuant to Rule 424(b)(5)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">Registration No. 333-272603</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font: 12pt Arial, Helvetica, Sans-Serif"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: red"><B>SUPPLEMENT TO PROSPECTUS</B></FONT></P>
                                                                    <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: red"><B>SUPPLEMENT DATED APRIL 14, 2025</B></FONT></P></TD>
    <TD STYLE="width: 25%; font: 12pt Arial, Helvetica, Sans-Serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 25%; font: 12pt Arial, Helvetica, Sans-Serif; text-align: right">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 2pt 0; text-align: justify">(<B>To the Prospectus dated June 21, 2023)</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; width: 60%; border-top: black 1.5pt solid; font: 12pt/115% Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="width: 40%; border-top: black 1.5pt solid; font: 12pt/115% Arial, Helvetica, Sans-Serif; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD>
    <P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 0"><B>Duos Technologies Group, Inc.</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: center; text-indent: 0.75in">&nbsp;</P></TD>
    <TD STYLE="padding-left: 171pt; font: 12pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 20pt; color: #548DD4"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;duos</B></FONT><B><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 20pt">tech</FONT></B></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="border-bottom: black 1.5pt solid">
    <P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Up to $10,500,000 </B></P><P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B> </B></P>
    <P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>COMMON STOCK</B></P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.5in">This prospectus supplement
supplements, modifies and supersedes, only to the extent indicated herein, certain information contained in our prospectus supplement
dated April 14, 2025, which together with the prospectus dated June 21, 2023, contained in our Registration Statement on Form S-3 (Registration
No. 333-27603), we refer to as the prospectus, relating to the issuance and sale of shares of our common stock, par value $0.001 per share,
from time to time through our sales agent, Ascendiant Capital Markets, LLC, or ACM. These sales, if any, will be made pursuant to the
terms of the At-The-Market Issuance Sales Agreement, or the Sales Agreement, we entered into with ACM.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.5in">This prospectus supplement
should be read in conjunction with, is not complete without, and may not be delivered or utilized except in connection with, the prospectus,
including all supplements thereto and documents incorporated by reference therein. If there is any inconsistency between the information
in the prospectus and this prospectus supplement you should rely on the information in this prospectus supplement. Any information that
is modified or superseded in the prospectus shall not be deemed to constitute a part of this prospectus, except as modified or superseded
by this prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.5in">Our common stock is listed
on the NASDAQ Capital Market under the symbol &ldquo;DUOT.&rdquo; On May 23, 2025, the last reported sale price of our common stock on
the NASDAQ Capital Market was $8.46 per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.5in">As of the date of this prospectus
supplement, we are subject to General Instruction I.B.6 of Form S-3, which limits the amounts that we may sell under the registration
statement of which this prospectus supplement is a part. As of May 23, 2025, the aggregate market value of our outstanding common stock
held by non-affiliates, or public float, was approximately $54.1 million, based on 11,653,905 shares of common stock, of which 5,257,882
shares were held by affiliates, and a price of $8.46 per share, which was the price at which our common stock was last sold on Nasdaq
on May 23, 2025. Pursuant to General Instruction I.B.6 of Form S-3, in no event will we sell, pursuant to the registration statement of
which this prospectus supplement forms a part, securities with a value exceeding one-third of the aggregate market value of our outstanding
common stock held by non-affiliates in any 12-month period (or approximately $18,000,000), so long as the aggregate market value of our
common stock held by non-affiliates remains below $75.0 million. During the 12 calendar months prior to and including the date of this
prospectus supplement, we have sold $7,500,000 worth of securities pursuant to General Instruction I.B.6 of Form S-3, leaving $10,500,000
to be sold under this prospectus supplement. In the event that, subsequent to the date of this prospectus, the aggregate market value
of our outstanding common stock held by non-affiliates equals or exceeds $75.0 million, then the one-third limitation on sales set forth
in General Instruction I.B.6 of Form S-3 shall not apply to additional sales made pursuant to this prospectus. In any event, we shall
file a supplement to this prospectus supplement prior to increasing the amount of shares available for sale pursuant to the Sales Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.5in">Sales of our common stock,
if any, under this prospectus supplement and accompanying prospectus will be made in sales deemed to be an &ldquo;at the market offering&rdquo;
as defined in Rule 415(a)(4) promulgated under the Securities Act of 1933, as amended, or the Securities Act. ACM is not required to sell
any specific amount of securities but will be acting as our sales agent using commercially reasonable efforts consistent with its normal
trading and sales practices, on mutually agreed terms between ACM and us. There is no arrangement for funds to be received in an escrow,
trust or similar arrangement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.5in">We are filing this
prospectus supplement to supplement and amend as of May 28, 2025, the prospectus, as supplemented, to (i) increase the maximum
aggregate offering price of our common stock that may be offered, issued and sold under the prospectus, as supplemented and amended
by this prospectus supplement, pursuant to the Sales Agreement from $8,850,000 to $10,500,000 and (ii) update the Dilution table
from December 31, 2024 to March 31, 2025. From and after the date hereof, pursuant to General Instruction I.B.6 of Form S-3, we are
offering to issue and sell shares of our common stock bearing an aggregate offering price of up to $10,500,000 from time to time
through ACM, acting as our sales agent or principal in accordance with the Sales Agreement, as amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.5in">The compensation to ACM
for sales of common stock sold pursuant to the Sales Agreement will be up to 3% of the gross proceeds of any shares of common stock sold
under the Sales Agreement. In connection with the sale of the common stock on our behalf, ACM will be deemed to be an &quot;underwriter&quot;
within the meaning of the Securities Act and the compensation of ACM will be deemed to be underwriting commissions or discounts. We have
also agreed to provide indemnification and contribution to ACM with respect to certain liabilities, including liabilities under the Securities
Act or the Securities Exchange Act of 1934, as amended, or the Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.5in"><B>Investing in our securities
involves a high degree of risk. Before buying any of our securities, you should carefully consider the risk factors described in &ldquo;Risk
Factors&rdquo; beginning on page S-4 of the prospectus supplement dated April 14, 2025, and under similar headings in other documents
incorporated by reference into this prospectus supplement.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.5in"><B>Neither the Securities
and Exchange Commission nor any state securities commission has approved or disapproved of these securities or passed upon the adequacy
or accuracy of this prospectus supplement or the accompanying prospectus. Any representation to the contrary is a criminal offense. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">ASCENDIANT CAPITAL MARKETS, LLC</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right; text-indent: 4.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">The date of this prospectus supplement is May 28,
2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>


<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><table cellpadding="0" cellspacing="0" style="width: 100%"><tr><td style="text-align: center; width: 100%">&#160;</td></tr></table></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><table cellpadding="0" cellspacing="0" style="width: 100%"><tr><td style="text-align: center; width: 100%">&#160;</td></tr></table></DIV>
    <!-- Field: /Page -->


<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>DILUTION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">If you purchase our securities
in this offering, your interest will be diluted to the extent of the difference between the public offering price per share of our common
stock and the net tangible book value per share of our common stock after this offering. We calculate net tangible book value per share
by dividing our net tangible assets (tangible assets less total liabilities) by the number of shares of our common stock issued and outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Our net tangible book value
at March 31, 2025 was negative $4,360,716, or ($0.37) per share, based on 11,653,905 shares of our common stock outstanding as of such
date. After giving effect to the sale of our common stock in the aggregate value of $10,500,000 at an assumed offering price of $8.46
per share, the last reported sale price of our common stock on May 23, 2025, and after deducting offering commissions and estimated offering
expenses payable by us, our pro forma as adjusted net tangible book value at March 31, 2025 would have been $5,479,284 or $0.42 per share.
This represents an immediate increase in pro forma net tangible book value of $0.79 per share to existing stockholders and an immediate
dilution of $8.04 per share to investors in this offering at the assigned public offering price. The following table illustrates this
per share dilution:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="width: 84%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Public offering price per share of common stock</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="width: 13%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.46</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net tangible book value per share as of March 31, 2025</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(0.37</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Increase per share attributable to this offering</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.79</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As adjusted net tangible book value per share as of March 31, 2025 after this offering</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.42</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dilution per share to new investors participating in this offering</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(8.04</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">To the extent that outstanding options are
exercised or shares of preferred stock are converted, or any additional options, or other equity awards are granted and exercised or become
vested or other issuances of shares of our common stock are made, you will experience further dilution. In addition, we may choose to
raise additional capital due to market conditions or strategic considerations even if we believe we have sufficient funds for our current
or future operating plans. To the extent that additional capital is raised through the sale of common stock or securities exercisable,
convertible or exchangeable into common stock, such issuance could result in further dilution to our stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The above information is
based on 11,653,905 shares of common stock outstanding as of March 31, 2025, and excludes as of such date:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="width: 90%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,605,416 shares of our common stock issuable upon conversion of all outstanding shares of our preferred stock; </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">385,368 shares of our common stock issuable upon exercise of outstanding stock options under our equity incentive plans at a weighted-average exercise price of $5.51 per share, with 2,679,974 additional shares reserved for future issuance under such plans; </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">90,000 shares of our common stock issuable upon exercise of outstanding stock options issued outside of our equity incentive plans at a weighted-average exercise price of $4.24 per share; and </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Up to 819,055 shares of our common stock issuable under the Company&rsquo;s Employee Stock Purchase Plan.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
