Data Storage Corp

Data Storage Corporation announced that Harold J. Schwartz has resigned from its Board of Directors, effective immediately. The company stated that Mr. Schwartz's decision to resign was not a result of any disagreement with the Company on any matter relating to its operations, policies, or practices. Mr. Schwartz previously held a position as an officer of the Company's former subsidiary, CloudFirst Technologies Corporation, and did not serve on any board committees.

Data Storage Corporation announced it will host a business update conference call on August 14, 2026, at 11:00 a.m. Eastern Time. The call will cover the company's financial results for the second quarter of 2026, which concluded on June 30, 2026, along with corporate progress and other developments. Investors can access the call via telephone or a live webcast.

Data Storage Corporation announced significant strategic repositioning following the sale of its CloudFirst business in September 2025 for $40 million, which contributed to a fiscal 2025 net income of $19.2 million. The company also completed a tender offer in January 2026, repurchasing about 72% of its common stock, and now boasts a debt-free balance sheet with over $9 million in cash. The Board is actively exploring acquisitions and new organic initiatives to build long-term shareholder value. The company also announced its 2026 Annual Meeting of Shareholders for September 2, 2026.

Data Storage Corporation announced the appointment of Jerome Naidoo as a Strategic Advisor. In this role, Mr. Naidoo will guide the company on artificial intelligence strategy, product architecture, and intellectual property development, specifically supporting its Sovereign AI Solutions (SaiS) initiative and AI Continuity Control Plane for regulated industries. With over 30 years of experience in software engineering, cybersecurity, and AI, his appointment underscores the company's commitment to enhancing its technical leadership and innovation in AI-driven critical infrastructure.

Data Storage Corp has entered into an Equity Distribution Agreement with Maxim Group LLC, enabling the company to sell shares of its common stock through an "at the market" offering. Maxim Group LLC will act as the sales agent, earning a 2.5% commission on gross proceeds and receiving up to $25,000 for certain expenses. This agreement, which is similar to a previous one from July 2024, allows for the potential sale of up to $10,600,000 in common stock under a shelf registration statement.

Data Storage Corporation announced the expiration of all outstanding publicly traded warrants to purchase up to 1,464,610 shares of its common stock on May 18, 2026. As a result, the warrants have been delisted from Nasdaq, which the company states eliminates a potential source of future dilution and simplifies its capital structure. CEO Chuck Piluso highlighted that the company now has approximately 2.2 million shares outstanding and is better positioned to execute its strategy focused on AI continuity infrastructure for regulated industries.

Data Storage Corp completed a $29.5 million share repurchase tender offer in Q1 2026, significantly impacting its balance sheet. The company reported a net loss attributable to common stockholders of $(631,272) for the quarter, compared to a net income of $24,078 in the prior year. Sales from continuing operations increased by 10.8% to $346,707, but the loss from continuing operations widened to $(768,258). The company also recognized a $148,991 net gain from the sale of discontinued operations.

Data Storage Corporation provided a business update for Q1 2026, highlighting its strategic expansion into AI Continuity Infrastructure for regulated industries through its new subsidiary, Sovereign AI Solutions (SaiS). The company also reported stable recurring operations from Nexxis Inc., with sales increasing 10.9% year-over-year and gross profit up 32.1% to a 53.7% margin. DTST reported a net loss of $(631,272) for the quarter and executed significant share repurchases, leading to a decrease in total assets.

Data Storage Corp provided a business update for Q1 2026, highlighting its strategic expansion into AI continuity infrastructure for regulated industries with the launch of Sovereign AI Solutions (SaiS), a wholly owned subsidiary. The company's Nexxis operations showed stable recurring revenue, with sales increasing 10.9% year-over-year to $346,707 and gross profit rising 32.1% to $186,019. Despite these operational gains, the company reported a net loss attributable to common stockholders of $(631,272) for the quarter. Data Storage Corp also completed a $29.5 million share repurchase via a Tender Offer and emphasized its strong financial position with no long-term debt.

Data Storage Corp (DTST) announced the formation of Sovereign AI Solutions (SaiS), a new wholly-owned subsidiary. SaiS will develop an AI Continuity Control Plane for regulated industries such as healthcare, financial services, and insurance, focusing on recovery, validation, and compliance for sovereign AI and AI Factory environments. This strategic pivot follows the $40 million sale of its cloud solutions business and a $29.3 million share repurchase, leaving DTST debt-free with substantial working capital and approximately 2.17 million shares outstanding. The company aims to capitalize on a critical, high-margin market gap.