secwatch.observer — SEC 8-K summary
======================================

Issuer:     Data Storage Corp (DTST)
CIK:        0001419951
Form:       8-K/A
Filed at:   2021-08-12T23:59:59+00:00
Accession:  0001731122-21-001339
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.55
Item codes: 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Data Storage Corp files financials for acquired Flagship Solutions; Q1 2021 rev $3.9M, net loss $38k
--------------------------------------------------------------------------------

- Flagship Solutions (acquired May 31, 2021) Q1 2021 revenue $3.91M (up 37% YoY); net loss $38,324 vs net income $9,064 in Q1 2020.
- Two customers represent 65% of Q1 2021 revenue; one customer accounts for 91% of accounts receivable — high concentration risk.
- As of March 31, 2021, Flagship had total assets $3.88M, liabilities $4.15M, and members' deficit $267,135.
- Flagship carries $700K line of credit and SBA notes of $817,200; Q1 2021 interest expense $7,927.
- Pro forma condensed combined financial statements for Q1 2021 and FY 2020 filed as Exhibit 99.2.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1419951/000173112221001339/0001731122-21-001339-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1419951/000173112221001339/e3016_8ka.htm
  HTML page:      https://secwatch.observer/filing/0001731122-21-001339

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer