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Data Storage Corporation Issues Statement About Promotional Activity Concerning Its Common Stock

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MELVILLE, N.Y., Oct. 17, 2019 (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. (“OTC Markets”) about recent trading and promotional activity concerning the Company’s common stock. 

On October 15, 2019, 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 by unaffiliated third-party sources, including, BeatPennyStocks.com, owned and operated by Stellar Media Group, LLC, and MakePennyStocksGreatAgain.com, owned and operated by Link Media, 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.  The Company is not affiliated in any way with the authors of the promotional materials identified by OTC Markets.

The Company has reviewed the statements in the promotional materials provided by the Issuer Compliance of the OTC Markets.  While it appears that certain statements and claims made in the promotional materials were factually correct as they were taken from the Company’s website, historical press releases and other public documents, the Company has determined that certain statements included in these promotional materials related to the Company and its business might be read as false and/or misleading and readers should not place undue reliance on these promotional materials.

In addition, the Company understands that there are statements made in the promotional materials which may be deemed to encourage investors to purchase the common stock of the Company.  Such statements only express the view of the authors. The Company disclaims any potentially exaggerated or misleading statements contained in the promotional materials.

Readers of the promotional materials should not place undue reliance on the promotional materials. Specifically, the Company does not condone the use of sensational language to describe the Company’s business prospects or the growth potential of the Company’s industry.

The Company encourages investors to review the business of the Company on its own merits. The Company does not condone any statements made regarding the urgency of investing in the Company’s common shares or any other similar statements. The Company notes that investing in the Company’s securities involves certain risks and uncertainties which investors should review prior to making any investment decision. The Company directs potential investors to rely solely on its filings and disclosures made with the U.S. Securities and Exchange Commission, available at www.sec.gov.

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 the third-party service provider regarding the promotional activities concerning the Company. Neither the Company, nor its executive officers, directors nor, to the Company’s knowledge, its controlling shareholders nor the third party service provider, were involved in any way with the creation or distribution of the promotional materials identified by OTC Markets.  Additionally, 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. 

Charles Piluso, the Company’s CEO, stated, “We continue to execute on our business model and remain extremely encouraged by the outlook for the business.  While some of the information stated in these promotional materials, as it relates to DSC, does represent the core of our business solutions and the marketplace, we do not stand behind any future growth rates stated in the promotional materials, nor do such statements represent any guidance from DSC. Further, the Company is not involved in Artificial Intelligence or Virtual Reality, as stated in the promotional materials, but remains focused on our core solutions.  Nevertheless, 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’s investor relations firm engaged since April 1, 2019 is Crescendo Communications, LLC (“Crescendo”).  Prior to Crescendo, the Company engaged Andrew Barwicki Incorporated (“Barwicki”) from January 18, 2017 to March 31, 2019.  Crescendo and Barwicki deny any prior knowledge of or involvement in the creation or distribution of the promotional materials. The Company has not engaged any third parties to provide investor relations services, public relations services or other related services since January 1, 2017 other than the above-mentioned firms.

The Company has not 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.

About Data Storage Corporation

The Company provides a highly secure, enterprise level cloud for IBM i Power systems and Windows, assisting companies in the migration process, while reducing capex and providing flexibility for seasonality with on-demand compute power. Clients have access to an array of solutions: Infrastructure as a Service, disaster recovery, voice and data, security, and email compliance & data analytics. The Company provides solutions to business, government, education and healthcare industries.

For more information, please visit http://www.DataStorageCorp.com.

Safe Harbor Provision

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, that are intended to be covered by the safe harbor created thereby.  All statements other than statements of historical fact contained herein, including, without limitation, statements regarding the Company’s future financial position, business strategy, plans and objectives, are forward-looking statements.  Forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “will,” “expects,” “intends,” “plans,” “projects,” “estimates,” “anticipates,” or “believes” or the negative thereof or any variation thereon or similar terminology or expressions.  Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from results proposed in such statements.  Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can provide no assurance that such expectations will prove to have been correct.  Important factors that could cause actual results to differ materially from the Company’s expectations include, but are not limited to, those factors set forth in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 and its other filings and submissions with the SEC.  Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made.  Except as required by law, the Company assumes no obligation to update or revise any forward-looking statements.

Contact:
Crescendo Communications, LLC
212-671-1020
DTST@crescendo-ir.com

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

IT

Neptune Dash Announces Corporate Update

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VANCOUVER, British Columbia, Nov. 15, 2019 (GLOBE NEWSWIRE) — Neptune Dash Technologies Corp. (“Neptune Dash” or the “Company”) (TSX.V:DASH) (OTC:NPPTF) (FWB:1NW) is pleased to provide an update on corporate strategy.

Neptune Dash is pleased to update shareholders as to the ongoing corporate strategy. As of the date of this news release the Company holds approximately 125,000 ATOM growing at a rate of 10% per annum. The Company also has over 16,100 Dash tokens in the form of Dash Masternodes earning rewards at a rate of 5.6% per year as well as a variety of other crypto currencies including Bitcoin, Ethereum, Litecoin, Stellar, NEO, Omisego, and QTUM. The Company also advises that while it had previously launched a Cosmos Network Validator and secured enough delegations to put it on the exclusive list of 100 network validators, the costs of maintaining the validator outweighed the commissions received by delegators and as such has dropped the validator in order to grow its ATOM position using an arm’s length top ten Validator.

“In spite of a relatively subdued crypto market since June of this year, we have been able to substantially cut operating costs and increase crypto earnings through diversification into Cosmos ATOM. As always, the Company remains dedicated to maximizing crypto asset returns and building a strong and diversified crypto portfolio through strategic purchases of top market cap tokens,” stated Cale Moodie, Neptune Dash CEO.

The Company is pleased to announce that it has added Carmen To to the board of directors and as chairman of the audit committee. Mr. To is a CPA, CA and previously worked at KPMG LLP on both private and public company clients. Mr. To is now an independent consultant and successful entrepreneur working in a variety of industries from real estate to management consulting. Jackson Warren and Guy Halford-Thompson have resigned from the board in order to allocate their time to their new venture, Pepper Esports. The Company wishes them the best in this new venture and thanks them for their contributions over the last two years.

About Neptune Dash Technologies Corp.

Neptune Dash primarily builds and operates Masternodes and invests in blockchain related technologies. Neptune Stake is a wholly owned subsidiary of Neptune Dash and adds diversification to the Company’s cryptocurrency portfolio by investing in Proof of Stake tokens and their associated blockchain technologies.

For further information please contact:

Neptune Dash Technologies Corp.
Cale Moodie, President and CEO
Phone: (604) 319-6955 
Email: info@neptunedash.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This release contains certain “forward looking statements” and certain “forward-looking information” as defined under applicable Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology. Forward-looking statements and information include, but are not limited to, the continued success of the Company’s pooling service and anticipated revenues from such services; the value of the Company’s digital currency inventory; the business goals and objectives of the Company, and information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out here in, including but not limited tothe inherent risks involved in the cryptocurrency and general securities markets; the Company’s ability to successfully mine digital currency; revenue of the Company may not increase as currently anticipated, or at all; the Company may not be able to profitably liquidate its current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on the Company’s operations; the volatility of digital currency prices; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, currency fluctuations; regulatory restrictions, liability, competition, loss of key employees and other related risks and uncertainties. The Company undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

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IT

YY Inc. to Hold 2019 Annual General Meeting on December 20, 2019

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GUANGZHOU, China, Nov. 16, 2019 (GLOBE NEWSWIRE) — YY Inc. (NASDAQ: YY) (“YY” or the “Company”), a global social media platform, today announced that it will hold its 2019 annual general meeting of shareholders (the “AGM”) at 42nd Floor, Edinburgh Tower, The Landmark, 15 Queen’s Road Central, Hong Kong on December 20, 2019 at 2 p.m. (Hong Kong time).

The purpose of the AGM is for the Company’s shareholders to consider, and if thought fit, approve the change of the Company’s legal name from “YY Inc.” to “JOYY Inc.” The proposed name change will not affect any rights of shareholders or the Company’s operations and financial position.

“This proposed name change represents a significant company milestone and reflects our evolution into a leading global social media platform,” commented Mr. David Xueling Li, Chairman and Chief Executive Officer of YY. “The proposed name ‘JOYY’ stands for ‘Joyful and Youthful,’ as we bring joyful and youthful experiences to users around the world, which aligns with our mission to connect people around the world and enrich their lives through video. It also maintains our founding ethos of cheerful, social interaction, as displayed in our group’s Chinese name, Huan Ju, which literally translates into ‘Joyful Gathering.’ Under the proposed name ‘JOYY Inc.,’ we intend to remain committed to maintaining our domestic leadership in live streaming and game broadcasting through YY Live and Huya. Meanwhile, we will focus on operating our international business lines such as Likee, Bigo Live, IMO and Hago, to further cultivate our ecosystem and better serve the rising demands of video-based products and services for global users.”

The board of directors of the Company has fixed the close of business on November 20, 2019 as the record date (the “Record Date”) in order to determine the shareholders entitled to receive notice of the AGM or any adjourned or postponed meeting thereof.

Holders of the Company’s common shares whose names are on the register of members of the Company at the close of business on the Record Date are entitled to attend the AGM and any adjournment or postponement thereof in person. Holders of the Company’s American depositary shares (“ADSs”) who wish to exercise their voting rights for the underlying shares must act through Citibank N.A., the depositary of the Company’s ADS program.

The notice of the AGM is available on the Investor Relations section of the Company’s website at http://ir.yy.com.

YY has filed its annual report on Form 20-F, including its audited financial statements for the fiscal year ended December 31, 2018, with the U.S. Securities and Exchange Commission (the “SEC”). YY’s Form 20-F can be accessed on the above-mentioned Company website, as well as on the SEC’s website at http://www.sec.gov. Shareholders may request a hard copy of the Company’s annual report on Form 20-F, free of charge, by contacting YY Inc. at ir@yy.com or by writing to YY Inc. at Building B-1, North Block of Wanda Plaza, No. 79 Wanbo Er Road, Nancun Town, Panyu District, Guangzhou 511442, the People’s Republic of China, telephone: +86 (20) 8212-0000.

About YY Inc.

YY Inc. (“YY” or the “Company”) is a global social media platform. The Company’s highly engaged users contribute to a vibrant social community by creating, sharing, and enjoying a vast range of entertainment content and activities. YY enables users to interact with each other in real time through online live media and offers users a uniquely engaging and immersive entertainment experience. YY owns YY Live, a leading live streaming social media platform in China and Huya, a leading game live streaming platform in China. In addition, YY completed the acquisition of Bigo in March 2019. Bigo is a fast-growing global tech company. Headquartered in Singapore, Bigo owns Bigo Live, a leading global live streaming platform outside China; Likee, a leading global short-form video social platform; IMO, a global video communication app, and other social applications. YY has created an online community for global video and live streaming users. YY Inc. was listed on the NASDAQ in November 2012.

Investor Relations Contact

YY Inc.
Matthew Zhao

Maggie Yan
Tel: +86 (20) 8212-0000
Email: IR@YY.com 

ICR, Inc.
Jack Wang
Tel: +1 (646) 915-1611
Email: IR@YY.com

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IT

BroadVision Announces Third Quarter 2019 Results

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REDWOOD CITY, Calif., Nov. 15, 2019 (GLOBE NEWSWIRE) — BroadVision, Inc. (Nasdaq: BVSN), a leading provider of e-business and engagement management solutions, today reported financial results for its third quarter ended September 30, 2019. This was the third quarter for which BroadVision’s results of operations reported under U.S. Generally Accepted Accounting Principles (“GAAP”) included the results of operations of its subsidiary, Vmoso, Inc. (“VMSO”), which was consolidated with BroadVision for GAAP purposes through September 29, 2019. BroadVision completed the financing of and transfer of its Vmoso and Clearvale platforms to VMSO in the first quarter of 2019 (collectively, the “VMSO transactions”). On September 30, 2019, BroadVision took actions that resulted in the deconsolidation of VMSO from its consolidated financial statements. As a result, on September 30, 2019, BroadVision determined that the asset group associated with Vmoso and Clearvale products and its MyVmoso Network product development should be considered as discontinued operations.

Revenues from continuing operations for the third quarter were $0.7 million, compared with revenues from continuing operations of $0.7 million for the second quarter ended June 30, 2019 and $0.7 million for the comparable quarter of 2018. Revenues from discontinued operations for the third quarter were $0.2 million compared with revenues from discontinued operations of $0.2 million for the second quarter ended June 30, 2019 and $0.2 million for the comparable quarter of 2018.

License revenues from continuing operations for the third quarter of 2019 were $0.3 million, compared with license revenues from continuing operations of $0.3 million for the second quarter ended June 30, 2019 and $0.3 million for the comparable quarter of 2018. The majority of the third quarter license revenues from continuing operations was generated from the Company’s BroadVision® Business Agility Suite™, Commerce Agility Suite™, and QuickSilver™. Revenues during the quarter were generated from sales to both new and existing customers.

In the third quarter of 2019, BroadVision posted a net loss from continuing operations on a GAAP basis of $0.6 million, or $0.11 per basic and diluted share, as compared with GAAP net loss from continuing operations of $0.1 million, or $0.02 per basic and diluted share, for the second quarter of 2019 and GAAP net loss from continuing operations of $0.5 million, or $0.09 per basic and diluted share, for the comparable quarter of 2018. Net income from discontinued operations of $1.7 million for the third quarter of 2019 included a $2.3 million gain on deconsolidation of VMSO offset by a loss from discontinued operations of approximately $0.6 million. This is compared to a net loss from discontinued operations of $0.8 million for the second quarter of 2019 and $1.3 million for the comparable quarter of 2018.

As of September 30, 2019, the Company had $2.2 million of cash and cash equivalents after deconsolidation of VMSO, compared to a combined balance of $2.6 million as of December 31, 2018, which was prior to the completion of the VMSO transactions.

“As a result of our deconsolidation of VMSO, for the first time this quarter we are presenting separate figures for discontinued operations related to the VMSO products within our reported results. These figures show that VMSO continued to require investment levels expected for a startup through its deconsolidation effective September 30, 2019, while the continuing operations of our core BroadVision business continued to generate revenues. Any future expenses related to product development for VMSO will no longer be consolidated by BroadVision,” said Dr. Pehong Chen, President, CEO and Interim CFO of BroadVision.

About BroadVision 
Driving innovation since 1993, BroadVision (Nasdaq: BVSN) provides e-business solutions that enable the enterprise and its employees, partners, and customers to stay actively engaged, socially connected, and universally organized to achieve greater business results. BroadVision® solutions are available globally in the cloud via Web and mobile applications. Visit www.BroadVision.com for more details.

BroadVision, Business Agility Suite, Commerce Agility Suite and QuickSilver are trademarks or registered trademarks of BroadVision, Inc. in the United States and other countries. All other company names, product names, and marks are the property of their respective owners.

Information Concerning Forward-Looking Statements
Information in this release that involves expectations, beliefs, hopes, plans, intentions or strategies regarding the future, including statements regarding BroadVision’s ability to enhance customers’ businesses and the ability of BroadVision’s continuing operations to generate revenues, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, which involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. These risks and uncertainties include without limitation uncertainty regarding market acceptance of BroadVision’s products and services, BroadVision’s ability to provide reliable, scalable and cost-efficient Cloud-based offerings, BroadVision’s ability to effectively compete in its intensely competitive market and respond effectively to rapidly changing technology, evolving industry standards and changing customer needs, requirements or preferences, and the other risks set forth in BroadVision’s most recent quarterly report on Form 10-Q, and subsequent reports filed with the Securities and Exchange Commission. All forward-looking statements included in this release are based upon information available to BroadVision as of the date of this release, and BroadVision assumes no obligation to update or correct any such forward-looking statements except as required by law. These statements are not guarantees of future performance and actual results could differ materially from BroadVision’s current expectations.

             
             
BROADVISION, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
            
   September 30,   December 31,
   2019   2018
ASSETS     (unaudited)      
Current assets:            
Cash, cash equivalents and short-term investments   $  2,169   $  2,574
Other current assets      1,818      1,168
Total current assets      3,987      3,742
Other non-current assets      1,600      111
Total assets   $  5,587   $  3,853
LIABILITIES AND STOCKHOLDERS’ EQUITY            
Current liabilities   $  2,040   $  1,897
Other non-current liabilities      813      555
Total liabilities      2,853      2,452
Total stockholders’ equity      2,734      1,401
Total liabilities and stockholders’ equity   $  5,587   $  3,853
                         
                         
BROADVISION, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
(In thousands, except per share data)
(unaudited)
                         
    Three Months Ended   Nine Months Ended
    September 30,   September 30,
    2019   2018   2019   2018
Revenues:                        
Software licenses   $  284     $  285     $  964     $  1,199  
Services      424        458        1,333        1,709  
Total revenues      708        743        2,297        2,908  
Cost of revenues:                        
Cost of software revenues      12        28        —        102  
Cost of services      75        105        235        424  
Total cost of revenues      87        133        235        526  
Gross profit      621        610        2,062        2,382  
Operating expenses:                        
Research and development      322        235        537        1,249  
Sales and marketing      69        231        140        669  
General and administrative      596        535        1,941        2,072  
Total operating expenses      987        1,001        2,618        3,990  
Operating loss      (366 )      (391 )      (556 )      (1,608 )
Interest income, net      4        13        12        49  
Other income (loss), net      (190 )      (71 )      (174 )      (223 )
Loss before income taxes      (552 )      (449 )      (718 )      (1,782 )
Income tax expense      2        (2 )      (15 )      (4 )
Net income (loss) from continuing operations      (550 )      (451 )      (733 )      (1,786 )
Discontinued Operations:                        
Net income (loss) from discontinued operations      (665 )      (1,265 )      (2,234 )      (3,582 )
Gain on deconsolidation of Vmoso, Inc.      2,349        —        2,349        —  
Net income (loss) from discontinued operations      1,684        (1,265 )      115        (3,582 )
Net income (loss)      1,134        (1,716 )      (618 )      (5,368 )
Net income (loss) attributed to non-controlling interest      (529 )      —        (1,707 )      —  
Net income (loss) attributed to BroadVision   $  1,663     $  (1,716 )   $  1,089     $  (5,368 )
Amounts attributed to controlling interest:                        
Net income (loss) attributed to controlling interest from continuing operations   $  (467 )   $  (1,716 )   $  (519 )   $  (5,368 )
Net income (loss) attributed to controlling interest from discontinued operations      2,130        —        1,608        —  
Net income (loss) attributed to BroadVision   $  1,663     $  (1,716 )   $  1,089     $  (5,368 )
Net income (loss) per share attributed to continuing operations:                        
Basic   $  (0.11 )   $  (0.09 )   $  (0.15 )   $  (0.36 )
Diluted   $  (0.11 )   $  (0.09 )   $  (0.15 )   $  (0.36 )
Net income (loss) per share attributed to discontinued operations:                        
Basic   $  0.33     $  (0.25 )   $  0.02     $  (0.72 )
Diluted   $  0.33     $  (0.25 )   $  0.02     $  (0.72 )
Shares used in computing:                        
Weighted average shares, basic      5,034        4,998        5,002        4,997  
Weighted average shares, diluted      5,044        4,998        5,021        4,997  
Other comprehensive (loss) gain, net of tax:                        
Foreign currency translation adjustment      188        29        184        106  
Comprehensive income      188        29        184        106  
Comprehensive income (loss)   $  1,322     $  (1,687 )   $  (434 )   $  (5,262 )

BroadVision Contact:

Pehong Chen
Investor Relations
(650) 331-1000          
Ir1@broadvision.com 

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