Data Storage Corp. Faces Delisting Concerns
Ticker: DTSTW · Form: 8-K · Filed: Apr 2, 2024 · CIK: 1419951
| Field | Detail |
|---|---|
| Company | Data Storage Corp (DTSTW) |
| Form Type | 8-K |
| Filed Date | Apr 2, 2024 |
| Risk Level | high |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, listing-standards, compliance
Related Tickers: DTST
TL;DR
DTST might get delisted - big trouble ahead.
AI Summary
Data Storage Corp. (DTST) filed an 8-K on April 2, 2024, to report a notice of delisting or failure to satisfy a continued listing rule or standard, and a transfer of listing. The filing indicates potential issues with the company's continued listing on the exchange.
Why It Matters
This filing signals potential financial distress or non-compliance with exchange rules, which could significantly impact the stock's liquidity and investor confidence.
Risk Assessment
Risk Level: high — A notice of delisting or failure to meet listing standards is a severe warning sign for investors, indicating significant operational or financial challenges.
Key Players & Entities
- Data Storage Corp. (company) — Registrant
- April 2, 2024 (date) — Date of Report
- Nevada (jurisdiction) — State of Incorporation
- 001-35384 (identifier) — SEC File Number
FAQ
What specific listing rule or standard has Data Storage Corp. failed to satisfy?
The filing does not specify the exact rule or standard that Data Storage Corp. has failed to satisfy, only that it is a notice of delisting or failure to satisfy a continued listing rule or standard.
What is the reason for the potential transfer of listing mentioned in the filing?
The filing states 'Transfer of Listing' as an item information, but does not provide details on the reasons or the destination exchange for this potential transfer.
When was Data Storage Corp. incorporated?
Data Storage Corp. was incorporated in Nevada, as indicated by the filing.
What is the SEC file number for Data Storage Corp.?
The SEC file number for Data Storage Corp. is 001-35384.
Does the filing provide any details about the company's financial performance leading to this notice?
No, this 8-K filing focuses on the notice of delisting and transfer of listing, and does not include specific financial performance details.
Filing Stats: 549 words · 2 min read · ~2 pages · Grade level 12.7 · Accepted 2024-04-02 17:29:57
Key Financial Figures
- $0.001 — h registered Common Stock, par value $0.001 per share DTST The Nasdaq Capital M
Filing Documents
- e5572_8-k.htm (8-K) — 29KB
- 0001731122-24-000569.txt ( ) — 239KB
- dtst-20240402.xsd (EX-101.SCH) — 4KB
- dtst-20240402_def.xml (EX-101.DEF) — 26KB
- dtst-20240402_lab.xml (EX-101.LAB) — 36KB
- dtst-20240402_pre.xml (EX-101.PRE) — 25KB
- e5572_8-k_htm.xml (XML) — 6KB
01. Notice
Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On April 2, 2024, Data Storage Corporation (the "Company") received a letter (the "Notification Letter") from The Nasdaq Stock Market ("Nasdaq") stating that based on the information regarding the appointment of Nancy M. Stallone, CPA to the Company's Board of Directors and Audit Committee, as detailed in the Company's Current Report on Form 8-K, as filed on March 11, 2024 with the Securities and Exchange Commission, Nasdaq has determined that the Company complies with the Audit Committee requirement for continued listing on The Nasdaq Capital Market set forth in Listing Rules 5605(c)(2), which requires that the Company maintain an audit committee of at least three members, each of whom must meet specified criteria, including certain independence criteria. Accordingly, the Nasdaq staff has determined that the Company has regained compliance with Nasdaq Listing Rule 5605(c)(2) and has indicated that the matter is now closed.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Exhibit Description 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: April 2, 2024 DATA STORAGE CORPORATION By: /s/ Charles M. Piluso Name: Charles M. Piluso Title: Chief Executive Officer