Data Storage Corporation Issues Statement About Promotional Activity Concerning Its Common Stock
MELVILLE, N.Y., Jan. 17, 2018 (GLOBE NEWSWIRE) -- Data Storage Corporation (OTCQB:DTST) (“DSC” and the “Company”), a provider of diverse business continuity, disaster recovery protection and cloud solutions, announces that it has been notified by OTC Markets Group Inc. about recent trading and promotional activity concerning DTST common stock.
On January 11, 2018, OTC Markets informed the Company that (i) it became aware of certain promotional activities concerning Data Storage Corporation and its common stock, including the distribution of promotional newsletter emails encouraging investors to purchase the Company’s common stock and (ii) that this promotional activity has had an effect on trading activity and the market for the Company’s securities. The Company understands this promotional activity coincided with higher than average trading volume and fluctuations in the Company’s stock price. The Company was unaware of the promotional activity until informed by OTC Markets, and is unaware of the full nature of the promotional activity, the extent of the dissemination, or the responsible parties.
Charles Piluso, the Company's CEO, stated, “While we are pleased with the apparent recognition of our company and our stated growth in sales and profits in connection with our acquistions in 2016 and newly formed telecom unit, Nexxis, we strongly advise the public to continue to rely only on our press releases and filings with the Securities and Exchange Commission for any material information regarding the Company.”
The Company has made inquiries of its executive officers, directors, controlling shareholders (i.e., shareholders owning 10% or more of the Company’s securities) and third party service providers. Neither the Company, nor its executive officers, directors nor, to the Company’s knowledge, its controlling shareholders nor third party service providers, were involved in any way with the creation or distribution of the promotional materials identified by OTC Markets. Additionally, with the exception of one open market sale of 5,000 shares of common stock by John Argen, a director of the Company, neither the Company’s executive officers, directors nor, to the knowledge of the Company, any controlling shareholders or any third party service providers, sold or purchased shares of common stock of the Company within the last 90 days.
The Company has not, other than disclosed in its periodic reports filed with the Securities and Exchange Commission, issued any shares or convertible instruments allowing conversion to equity securities at prices constituting a discount to the current market rate at the time of the issuance.
Other than Barwicki Investor Relations Inc., the Company has not engaged any third parties to provide investor relations services, public relations services or other related services since January 1, 2017.
The Company is not affiliated in any way with the authors of the promotional materials identified by OTC Markets. The statements regarding the Company that were made in the promotional materials were not materially false and/or misleading. The Company encourages those interested in the Company to rely solely on information included in its press releases combined with its filings and disclosures made with the Securities and Exchange Commission.
About Data Storage Corporation
Data Storage Corporation (DSC) delivers and supports a broad range of premium cloud solutions focusing on data storage and protection. Clients look to DSC to ensure disaster recovery and business continuity, strengthen security, and to meet increasing industry, state and federal regulations. The company markets to business, government, education and the healthcare industry by leveraging leading technologies, including Virtualization and Cloud Computing. The company provides hardware, IaaS, SaaS, managed IT services, installation and maintenance. For more information, please visit http://www.DataStorageCorp.com and www.SIASMSP.com.
Press Contact: Andrew Barwicki Data Storage Corporation (212) 564-4922 info@datastoragecorp.com
Released January 17, 2018