Data Storage Receives Over $2 Million in Net Proceeds from Exercise of Warrants
09 July 2021 - 10:00PM
Data Storage Corporation (Nasdaq: DTST) (the “Company”), a
comprehensive provider of IT Solutions including disaster recovery,
Infrastructure as a Service, cyber security and cloud, today
announced it has received approximately $2.1 million from the
voluntary exercise of a portion of the warrants from the Company’s
May 2021 financing.
Chuck Piluso, CEO, stated, “We appreciate the
tremendous support of our shareholders, as the exercise of these
warrants has generated over $2 million of additional capital for
the Company. As a result of the May 2021 financing, which occurred
in connection with our Nasdaq listing, and the proceeds from these
warrants, our balance sheet is in a stronger position than at any
time in the Company’s history. At the same time, we continue to
generate positive cash flow. Given the migration to IBM cloud
services and enhanced focus on cyber security, I truly believe we
are well positioned to drive significant value for our shareholders
in the months and years to come.”
About Data Storage
CorporationThe Company’s primary focus is to provide IT
solutions including Infrastructure as a Service, hybrid cloud
solutions, Disaster Recovery, IBM systems and storage, software,
cyber security, and other managed services focused on the IBM Power
community across a broad range of industries.
For more information, please visit
http://www.DataStorageCorp.com or follow the Company on Twitter
@DataStorageCorp.
Forward-Looking Statements
This press release contains "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995, as amended, that are intended to be covered by
the safe harbor created thereby. Forward-looking statements are
subject to risks and uncertainties that could cause actual results,
performance or achievements to differ materially from any future
results, performance or achievements expressed or implied by such
forward-looking statements. Statements preceded by, followed by or
that otherwise include the words “believes,” “expects,”
“anticipates,” “intends,” “projects,” “estimates,” “plans” and
similar expressions or future or conditional verbs such as “will,”
“should,” “would,” “may” and “could” are generally forward-looking
in nature and not historical facts, although not all
forward-looking statements include the foregoing. The
forward-looking statements include statements regarding the
expansion of the existing relationship with the Falcons
illustrating the scalability and performance of Flagship’s
solutions. Although the Company believes that the expectations
reflected in such forward-looking statements are reasonable, it can
provide no assurance that such expectations will prove to have been
correct. Important factors that could cause actual results to
differ materially from the Company's expectations include, but are
not limited to, the Company’s ability to leverage the scalability
and performance of Flagship’s solutions, the Company’s ability to
benefit from the IBM cloud migration underway, the Company’s
ability to position itself for future profitability and the
Company’s ability to maintain its Nasdaq listing. These risks
should not be construed as exhaustive and should be read together
with the other cautionary statements included in the Company’s
Annual Report on Form 10-K for the year ended December 31, 2020,
subsequent Quarterly Reports on Form 10-Q and Current Reports on
Form 8-K filed with the Securities and Exchange Commission. Any
forward-looking statement speaks only as of the date on which it
was initially made. Except as required by law, the Company assumes
no obligation to update or revise any forward-looking statements,
whether as a result of new information, future events, changed
circumstances or otherwise.
Investor Relations Contact: Crescendo
Communications, LLCTel: 212-671-1021Email:
DTST@crescendo-ir.com
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