secwatch.observer — SEC 8-K summary
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Issuer:     Data Storage Corp (DTST)
CIK:        0001419951
Form:       8-K
Filed at:   2025-09-16T23:59:59+00:00
Accession:  0001731122-25-001268
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 5.07, 2.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Data Storage closes sale of CloudFirst for $40M; targets AI, GPU, cybersecurity
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- Sale closed Sep 11, 2025; gross proceeds $40M; estimated net proceeds ~$24M after fees, taxes, adjustments.
- Shareholders approved transaction on Sep 10, 2025 with 4,045,746 votes for, 20,930 against.
- Remaining operating subsidiary Nexxis generated ~$1.1M sales in FY2024; Company plans to pursue acquisitions in AI, GPU, and cybersecurity.
- Pro forma financials show net loss attributable to common stock of $(2.75M) for FY2024 and $(1.44M) for H1 2025 after removing CloudFirst.
- CloudFirst brand and leadership remain intact under new owner Performive, backed by Renovus Capital.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1419951/000173112225001268/0001731122-25-001268-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1419951/000173112225001268/e6842_8-k.htm
  HTML page:      https://secwatch.observer/filing/0001731122-25-001268

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