Data Storage Corp. Enters Material Agreement, Incurs Financial Obligation
Ticker: DTSTW · Form: 8-K · Filed: Mar 27, 2024 · CIK: 1419951
| Field | Detail |
|---|---|
| Company | Data Storage Corp (DTSTW) |
| Form Type | 8-K |
| Filed Date | Mar 27, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.001, $143,173, $11,931.08 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, financial-obligation
TL;DR
Data Storage Corp. just signed a big deal and owes money.
AI Summary
Data Storage Corp. entered into a material definitive agreement on March 25, 2024, which also created a direct financial obligation for the company. The filing does not specify the nature of the agreement or the financial obligation.
Why It Matters
This filing indicates a significant new financial commitment or agreement for Data Storage Corp., which could impact its financial health and future operations.
Risk Assessment
Risk Level: medium — The nature of the material agreement and the resulting financial obligation are not detailed, creating uncertainty about potential risks.
Key Players & Entities
- Data Storage Corp. (company) — Registrant
- March 25, 2024 (date) — Date of earliest event reported
FAQ
What is the nature of the material definitive agreement entered into by Data Storage Corp. on March 25, 2024?
The filing does not specify the details of the material definitive agreement.
What is the direct financial obligation incurred by Data Storage Corp. as a result of this agreement?
The filing states that a direct financial obligation was created but does not provide specific details about its nature or amount.
What is the former name of Data Storage Corp. and when was the name change effective?
The former name of Data Storage Corp. was Euro Trend Inc., and the date of the name change was November 30, 2007.
In which state was Data Storage Corp. incorporated?
Data Storage Corp. was incorporated in Nevada.
What is the business address and phone number for Data Storage Corp.?
The business address is 48 South Service Road, Melville, NY 11747, and the business phone number is 212-564-4922.
Filing Stats: 616 words · 2 min read · ~2 pages · Grade level 11.1 · Accepted 2024-03-27 16:27:04
Key Financial Figures
- $0.001 — h registered Common Stock, par value $0.001 per share DTST The Nasdaq Capital M
- $143,173 — um rent under the Sublease Agreement is $143,173.00, payable in monthly installments of
- $11,931.08 — .00, payable in monthly installments of $11,931.08. The foregoing description of the term
Filing Documents
- e5537_8k.htm (8-K) — 29KB
- e5537_ex10-1.htm (EX-10.1) — 57KB
- image_002.jpg (GRAPHIC) — 58KB
- 0001731122-24-000517.txt ( ) — 394KB
- dtst-20240325.xsd (EX-101.SCH) — 4KB
- dtst-20240325_def.xml (EX-101.DEF) — 26KB
- dtst-20240325_lab.xml (EX-101.LAB) — 36KB
- dtst-20240325_pre.xml (EX-101.PRE) — 25KB
- e5537_8k_htm.xml (XML) — 6KB
01. Entry Into a Material Definitive Agreement
Item 1.01. Entry Into a Material Definitive Agreement. Sublease Agreement Data Storage Corporation (the "Company") entered into Sublease Agreement, dated as of January 17, 2024, with Sentinel Benefits Group, LLC, a Delaware limited liability company, and Sentinel Benefits Group, Inc., a Massachusetts corporation (the "Sublease Agreement"), to sublease certain office space in Melville, NY, which Sublease Agreement became effective March 25, 2024 upon receipt of the consent to the Sublease Agreement from the landlord of the subject property. The Sublease Agreement has a term commencing on April 1, 2024 and expiring on October 30, 2029. The annual minimum rent under the Sublease Agreement is $143,173.00, payable in monthly installments of $11,931.08. The foregoing description of the terms of the Sublease Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Sublease Agreement, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.
03 Creation of a Direct Financial Obligation
Item 2.03 Creation of a Direct Financial Obligation or an Obligation Under an Off-balance Sheet Arrangement of a Registrant. The information set forth under Item 1.01 above of this Current Report on Form 8-K is incorporated by reference in this Item 2.03.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Exhibit Description 10.1 Sublease between Sentinel Benefits Group, LLC and Sentinel Benefits Group, Inc. and Data Storage Corporation, dated as of January 17, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES 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. Dated: March 27, 2024 DATA STORAGE CORPORATION By: /s/ Charles M. Piluso Name: Charles M. Piluso Title: Chief Executive Officer