What changed in this filing

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Item 1. Business

2023-03-31 compared with 2022-03-31 · 230 added, 259 removed, 132 unchanged (79% of the section changed)

The Industry and Opportunity

Data Storage Corporation provides Cloud Managed Services and technologies

across multiple platforms.

The Company’s technical assets are located in geographically diverse Tier 3 compliant data centers throughout

the USA and Canada.

Hybrid and Multi-Cloud have

become mainstream technological offerings of the Cloud Managed Services industry as companies have moved away from legacy, on-premise

technology solutions.

This approach is growing more complex, as companies utilize disparate technical environments, including on-premises

equipment and software, multi-clouds interfacing with Software as a Service providers, Amazon AWS and others while focusing on the remote

employee or contractor for higher levels of security is driving growth in managed cloud services.

Cloud Managed Service Providers

assist businesses in achieving their desired security levels, technical cloud infrastructure and financial objectives while optimizing

the value of these technologies and cloud resources through multi-cloud management, ensuring business continuity, governance, and operational

efficiencies.

This is a five hundred-billion-dollar

One subset, a highly-focused segment of the Company, is IBM Power cloud infrastructure and disaster recovery.

Globally estimated

at over one million virtual IBM Power servers.

According to the most recent information received from IBM typical industries utilizing

IBM Power servers are finance, retail, healthcare, government, and distribution organizations.

The Company is a leader in providing IBM Power cloud

infrastructure, disaster recovery and the creation of unique offerings for over 15 years.

Data Storage Corporation provides Cloud Managed Services

and technologies across multiple platforms.

The Company’s technical assets are in geographically diverse, Tier 3 compliant data

centers throughout the USA and Canada.

Hybrid and Multi-Cloud have become mainstream technological

offerings of the Cloud infrastructure managed services industry as companies have moved away from legacy, on-premises technology solutions.

This approach has grown more complex, as companies utilize disparate technical environments, including on-premises equipment and software,

multi-clouds interfacing with Software as a Service providers, Amazon AWS and others while focusing on the remote employee or a contractor

for higher levels of security, driving growth in managed cloud services.

Cloud Managed Service Providers assist businesses

in achieving their desired security levels, technical cloud infrastructure and financial objectives while optimizing the value of these

technologies and cloud resources through multi-cloud management, ensuring business continuity, governance, and operational efficiencies.

One subset of this five hundred-billion-dollar industry

and a highly-focused segment of the Company is the IBM Power server;

of which AWS, Google and Microsoft are not competitors.

estimated that businesses in USA and Canada are operating over one million virtual IBM Power servers, known as LPAR’s.

to the most recent information received from IBM, the typical industries utilizing IBM Power servers are finance, retail, healthcare,

government, and distribution organizations.

The Company, through its CloudFirst subsidiary, is

a leader in providing IBM Power cloud infrastructure, disaster recovery and the creation of these unique offerings for over 15 years.

The opportunity for the Company, in the IBM Power

server portfolio segment is to capture a share of this annual recurring revenue marketplace that is currently under migration to cloud

server portfolio segment is capturing a share of this annual recurring revenue marketplace that is currently under migration to cloud

infrastructure.

The Company believes businesses

are increasingly under pressure to improve the proficiency of their information and storage systems accelerating the migration from self-managed

technical equipment and solutions to fully managed multi-cloud technologies to reduce cost and compete effectively.

These trends create

an opportunity for cloud technology service providers.

are increasingly under pressure to improve the efficiency of their information and storage systems accelerating the migration from self-managed

technical equipment and solutions to fully managed multi-cloud technologies to reduce cost, protect capital, ensure disaster recovery,

protect the custom applications developed for these systems, and compete effectively.

These trends create an opportunity for cloud technology

service providers.

The Company’s market

opportunity is derived from the demand for fully managed cloud and cybersecurity services across all major operating systems.

The Company’s target

is the $46.7 billion marketplace in the United States and Canada of this overall, projected $1 trillion global marketplace.

CloudFirst’s addressable

market is approximately $36 billion in the United States and Canada with limited competition today.

Our Flagship subsidiary provides

business continuity and infrastructure solutions combining on-premises equipment and software with its value-added managed services to

business customers.

Flagship maintains strong partner relationships with some of the largest IT Manufactures such as the IBM Corporation

in supplying the technology behind the highly technical designs built for business customers.

Flagship’s vision is to expand its

multi-cloud infrastructure solutions with more managed services, highlighted by its expanding Cyber Security offerings to capture more

of the marketplace outside of the CloudFirst sales and marketing programs.

Our Nexxis subsidiary is

a voice and data solution provider that utilizes major nationwide carriers and providers.

The subsidiary provides a suite of communications

services including Hosted VoIP, Internet Access, Data Transport, and SD-WAN.

The Nexxis complete voice and data solution combines elements

of these services into a fully managed option that delivers high reliability and is engineered to further enhance business continuity.

Nexxis’s goal is to provide a higher level of technology yet simplify management and combine cost savings for our clients wherever

According to Fortune Business

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the MDR segment, is an established market recognized by buyers .

Gartner observed a 35% growth in end users’ inquiries

on the topic in the last year.

Gartner observed a 35% growth in end users’ inquiries on

the topic in the last year.

Gartner estimates that by 2025, the MDR market will reach $2.15 billion in revenue, up from $1.03 billion

in 2021, for a compound annual growth rate (CAGR) of 20.2%.

The Company’s VOIP solutions fit well into this steadily growing

segment which is expected to reach $90 billion worldwide in 2022 with a CAGR of 3.1% with $17 billion in the US according to Globe Newswire

Market Analysis and Insights:

The Company’s VOIP solutions fit well into this steadily growing segment

which is expected to reach $90 billion worldwide in 2022 with a CAGR of 3.1% with $17 billion in the US according to Globe Newswire Market

Analysis and Insights:

Global VoIP Market.

Data and Analytics is another market that is growing rapidly and the Company

is breaking into, according to Globe Newswire this market was valued at $198 billion in 2020 and with a projected 13.5% CAGR we see this

hitting $263 billion by the end of 2022 and based on the Big Data Business Analytics market share report posted on statista.com the US

has 51% of that growth.

Company is positioned to support this growth, in the IBM Power multi-cloud marketplace as businesses continue to migrate towards this

Company has designed and built its solutions and services to support the demanding IBM Power System workload, manage hybrid cloud deployments

and continue to provide solutions that keep data and workloads protected from disasters and security attacks.

Company Overview

Data Storage Corporation, headquartered in Melville,

New York, with its three subsidiaries, DSC, Flagship Solutions LLC and Nexxis, Inc., provides solutions and services to a broad range

of clients in several industries, including healthcare, banking and finance, distribution services, manufacturing, construction, education,

and government.

The subsidiaries maintain business development teams, as well as independent distribution companies.

As an example, the

Company’s distribution channel of companies provides long-term subscription-based disaster recovery and cloud infrastructure without

investing in the infrastructure, data centers, telecommunications or specialized technical staff, which substantially lowers their barrier

of entry in providing these solutions to their client base.

The distribution company has typically provided equipment and software.

a client’s awareness in 2021 of the ability to migrate to an IBM Power cloud infrastructure and disaster recovery affords the distributor

the ability to maintain the client and create an annuity year after year.

To further support that awareness, over 55,000 visitors arrived

at the Company’s website in 2021.

During 2021, based on the May capital raise and the

up list to Nasdaq, the Company added distribution, business development representatives, marketing, and technical personnel.

continues to be focused on building the Company’s sales and marketing strategy and expanding its technology assets throughout its

data center network.

The Company’s business offices are located in

New York and Florida.

The offices include a technology center and lab, adapted to meet the technical requirements of the Company’s

The Company maintains its own infrastructure, storage, and networking equipment required to provide subscription solutions in

seven geographically diverse data centers located in New York, Massachusetts, Texas, Florida and North Carolina, and in Canada, Toronto,

and Barrie, serving clients in the United States and Canada.

The Company’s business continuity solutions

allow clients to quickly recover from system outages, human and natural disasters, and cyber security attacks, such as Ransomware.

Company’s managed cloud services begin with migration to the cloud and provide ongoing system support and management that enables

its clients to run their software applications and technical workloads in a multi-cloud environment.

The Company’s cyber security

offerings include comprehensive consultation and a suite of data security, disaster recovery, and remote monitoring services and technologies

that can be incorporated into the Company’s cloud solutions or be delivered as a standalone managed security offering covering the

client site endpoint devices, users, servers, and equipment.

Solution architects and the Company’s business

development teams work with organizations identifying and solving critical business problems.

The Company carefully plans and manages

the migration and configuration process, continuing the relationship and advising its clients long after the services have been implemented.

As of this filing, the Company has proposals outstanding of approximately $20 million in total contract value;

and, total proposals outstanding

for subscriptions solutions of approximately $14 million in total contract value.

Reflecting on client satisfaction, the Company’s

renewal rate on client subscription solutions is approximately 94% after their initial contract term expired.

The Company provides its clients subscription-based, long-term agreements

for cloud disaster recovery, cloud infrastructure, telecommunications solutions, and high processing on-site computing power and software

While a significant portion of the Company’s revenue has been subscription-based, it also generates revenue from the

sale of equipment and software for cybersecurity, data storage, IBM Power systems equipment and managed service solutions.

filing the Company has a backlog of over $500,000 in Annual Recurring Revenue (ARR) and equipment and software backlog of approximately

Data Storage Corporation, is headquartered in Melville,

DTST operates through three subsidiaries;

DSC, a Delaware corporation now referred to as CloudFirst Technologies Corporation;

Flagship Solutions, LLC;

and Nexxis Inc.

These subsidiaries provide solutions and services to a broad range of clients in several industries

including healthcare, banking and finance, distribution services, manufacturing, construction, education, and government.

The subsidiaries

maintain business development teams, as well as independent distribution channels.

The Company typically provides long-term subscription-based

disaster recovery, and cloud infrastructure, cyber security, third party cloud management, managed services, dedicated internet access

and UCaaS / VoIP services.

During 2022, based on the

May 2021 capital raise and the up list to Nasdaq, the Company has accelerated organic growth strategies by adding distribution, marketing,

and technical personnel.

Management continues to be focused on building the Company’s sales and marketing strategy and expanding

its technology assets throughout its data center network.

The Company believes businesses

are increasingly under pressure to improve the reliability and efficiency of their information and storage systems accelerating the migration

from self-managed technical equipment and solutions to fully managed multi-cloud technologies to reduce cost and compete effectively.

Further, in today’s environment, capital preservation is an encouragement to move from a capital-intensive, on-premises technology,

to a pay as you grow, CapEx to OpEx model.

These trends create an opportunity for Cloud Technology Service providers.

The Company’s market

opportunity is derived from the demand for fully managed cloud and cybersecurity services across all major operating systems.

CloudFirst alone has an addressable

market estimated at $36 billion in annual recurring revenue in the United States and Canada with limited competition.

The Company has designed

and built its solutions and services to support demand for cloud-based IBM Power System that support client critical workloads and custom

in-house developed applications, manage hybrid cloud deployments and continue to provide solutions that keep data and workloads protected

from disasters and security attacks.

Company’s business offices are located in New York, Florida and Texas.

The New York and Florida offices include a technology center

and labs adapted to meet the technical requirements of the Company’s clients.

The Company maintains its own infrastructure, storage,

and networking equipment required to provide subscription solutions in seven geographically diverse data centers located in New York,

Massachusetts, Texas, Florida and North Carolina, and in Canada, Toronto, and Barrie, serving clients in the United States and Canada.

The Company’s disaster

recovery and business continuity solutions allow clients to quickly recover from system outages, human and natural disasters, and cyber

security attacks, such as Ransomware.

The Company’s managed cloud services begin with migration to the cloud and provide ongoing

system support and management that enables its clients to run their software applications and technical workloads in a multi-cloud environment.

The Company’s cyber security offerings include comprehensive consultation and a suite of data security, disaster recovery, and remote

monitoring services and technologies that are incorporated into the Company’s cloud solutions or are delivered as a standalone managed

security offering covering the client site endpoint devices, users, servers, and equipment.

The Company’s

solution architects, and business development teams work with organizations identifying and solving critical business problems.

Company carefully plans and manages the migration and configuration process, continuing the relationship and advising its clients

long after the services have been implemented.

Reflecting on client satisfaction, the Company’s renewal rate on client

subscription solutions is approximately 94% after their initial contract term expired.

Growth Strategies

The Company will continue to drive revenues by expanding

distribution channels.

The Company will continue to build upon its social and digital lead generation programs.

Further, the Company will

continue to seek synergetic acquisitions that expand distribution, leading a technology trend, add to its existing technical staff and

create economies of scale improving gross profit margins.

distribution channels while expanding digital and direct marketing programs.

The Company will accelerate building upon its social and

digital lead generation programs.

Further, the Company will continue to seek synergetic acquisitions that expand distribution, leading

a technology trend, add to its existing technical staff and create economies of scale improving gross profit margins.

The Company increases revenue

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The Company has a diverse

community of distribution partners, ranging from IBM Business Partners, Software Vendors, application support providers, consultants,

and other cloud infrastructure providers.

community of distribution partners, ranging from IBM Business Partners, Software Vendors, IT resellers, Managed Service Providers, application

support providers, consultants, and other cloud infrastructure providers.

The Company believes there

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Specifically, the Company’s support services cover:

Cloud Infrastructure

Disaster Recovery as a Service

Cyber Security as a Service

Data Analytics as a Service

Solutions and Services

Cyber Security Solutions:

The Company’s

ezSecurity™ solution offers a suite of comprehensive cyber security products that can be utilized on systems at the client’s

location or on systems hosted in the Company’s cloud.

These offerings include fully managed endpoint (PCs and other user devices)

security with active threat mitigation, system security assessments, risk analysis, and applications to ensure continuous security.

contains a specialized offering for protecting and auditing IBM systems including a package designed to protect IBM systems against Ransomware

Data Protection and Recovery Solutions:

The Company offers a variety of data protection and disaster recovery solutions services designed to meet its clients’ requirements

solution is at the core of the Company’s data protection services and allows its

clients to have their data protected offsite with unlimited data retention in a secure location

that uses encrypted, enterprise-grade storage which allows for remote recovery from system

outages, human and natural disasters, and cyber security attacks like Ransomware and virus

allowing restoration of data from a known good point in time prior to an attack.

● ezRecovery™

provides standby systems, networking, and storage in the Company’s cloud infrastructure

that allows for faster recovery from client backups stored using ezVault™ at the same

hosted location.

ezSecurity™ offers

a suite of comprehensive cyber security solutions that can be utilized on systems at the client’s location or on systems hosted

in the Company.

These solutions include fully managed endpoint (PCs and other user devices) security with active threat mitigation,

system security assessments, risk analysis, and applications to ensure continuous security.

ezSecurity™ contains a specialized

offering for protecting and auditing IBM systems including a package designed to protect IBM systems against Ransomware attacks.

Data Protection and

Recovery Solutions:

ezVault™ solution

is at the core of the Company’s data protection services and allows its clients to have their data protected and stored offsite

with unlimited data retention in a secure location that uses encrypted, enterprise-grade storage which allows for remote recovery

from system outages, human and natural disasters, and cyber security attacks like Ransomware and viruses allowing restoration of

data from a known good point in time prior to an attack.

ezRecovery™ provides

standby systems, networking, and storage in the Company’s cloud infrastructure that allows for faster recovery from client

backups stored using ezVault™ at the same cloud based hosted location.

ezAvailability™

solution offers reliable real-time data replication for mission-critical applications

with Recovery Time Objective under fifteen minutes and near-zero Recovery Point Objective,

with optional, fully managed replication services.

solution offers reliable real-time data replication for mission-critical applications with Recovery Time Objective under fifteen

minutes and near-zero Recovery Point Objective, with optional, fully managed replication services.

The Company’s ezAvailability™

service consists of a full-time enterprise system, storage, and network resources, allowing

quick and easily switched production workloads to the Company’s cloud when needed.

The Company’s ezAvailability™ services are backed by a Service-Level Agreement

(“SLA”) to help assure performance, availability, and access.

solution provides replication services that mirror the clients’ data at the storage

level and allows for similar near-zero Recovery Point Objective as ezAvailability with less

application management and Recovery Time Objective under 1 hour.

Cloud Hosted Production Systems:

Company’s ezHost™ solution offers managed cloud services that removes the burden off system management from its clients

and ensures that their software applications and IT workloads are running smoothly.

ezHost™ provides full-time, scalable compute,

storage, and network infrastructure resources to run clients’ workloads on the Company’s enterprise-class infrastructure.

ezHost™ replaces the cost of support, maintenance, system administration, space, electrical power, and cooling of the typical hardware

on-premises systems with a predictable monthly expense.

The Company’s ezHost services are backed by an SLA governing performance,

availability, and access.

service consists of a full-time enterprise system, storage, and network resources, allowing quick and easily switched production

workloads to the Company’s cloud when needed.

The Company’s ezAvailability™ services are backed by a Service-Level

Agreement (“SLA”) to help assure performance, availability, and access.

ezMirror™ solution

provides replication services that mirror the clients’ data at the storage level and allows for similar near-zero Recovery

Point Objective as ezAvailability with less application management and Recovery Time Objective under 1 hour.

Cloud Hosted Production

ezHost™ solution provides managed cloud services

that removes the burden off system management from its clients and ensures that their software applications and IT workloads are running

ezHost™ provides full-time, scalable compute, storage, and network infrastructure resources to run clients’ workloads

on the Company’s enterprise-class infrastructure.

ezHost™ replaces the cost of support, maintenance, system administration,

space, electrical power, and cooling of the typical hardware on-premises systems with a predictable monthly expense.

The Company’s

ezHost services are backed by an SLA governing performance, availability, and access.

Voice & Data Solutions:

our voice and data division, specializes in fully-managed VoIP, Internet Access, and Data Transport solutions that satisfy the requirements

of corporate and remote workforce.

Services are delivered over fiber optic, coaxial, and wireless networks to assist businesses fully

connected from any location.

Nexxis provides dedicated internet access with speeds of up to 10 Gbps, FailSAFE, a Cloud-first SD-WAN solution,

that delivers industry-leading connectivity to cloud services, cloud-based Hosted VoIP and Unified Communications that provide business

continuity and integration with Microsoft Teams.

Data Analytics:

Company’s trademarked Infralytics™ offering was developed to empower IT organizations to respond quickly and intelligently

to business-impact issues as they arise.

With Infralytics custom dashboards, a client can monitor physical servers,

virtual machines, network devices, applications, and services across multiple platforms – whether on-premises, virtual, or in the

It also allows the Company’s clients to gain enhanced visibility and control over their physical, virtual, and cloud IT infrastructure

via customized, interactive dashboards.

In addition, utilizing IBM’s Watson the Company is taking disparate data sources and

developing algorithms to provide greater insight into the aggregation of that data.

All of this is provided as a service with the

primary deliverable a real-time dashboard.

Nexxis, our voice and data division, specializes in stand-alone and fully-managed VoIP, Internet Access, and Data Transport solutions

that satisfy the requirements of the traditional corporate and modern remote workforce.

Nexxis dedicated internet access services with

speeds of up to 10 Gbps and data transport circuits are typically delivered over fiber-optic networks while shared internet access is

typically delivered via fiber, coaxial, and wireless networks to help businesses stay fully connected from any location.

SD-WAN options

provide the ability for multi-site companies to prioritize their data traffic from site to site while FailSAFE, a Cloud-first SD-WAN solution,

can be used by a single location to gain industry-leading connectivity to cloud services and the internet.

Nexxis Hosted VoIP with Unified

Communications is a full-featured cloud-based PBX solution with built-in redundancy that provides business continuity and includes the

option to integrate with Microsoft Teams.

Corporate History

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This transaction with an IBM Gold Business Partner was synergetic to the Company’s services and added

new solutions such as IP with their Renewalytics managed maintenance/software and data analytics practice.

new solutions.

The result of these acquisitions, combined with the

Company’s legacy business continuity disaster recovery and IBM Power cloud infrastructure solutions, positions Data Storage Corporation

Company’s business continuity disaster recovery and IBM Power cloud infrastructure solutions, positions Data Storage Corporation

Competitive Landscape

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are competitive.

However, competition is limited in the Company’s $46.7 billion marketplace, compared to the limitless competitors,

competing against Amazon Web Services (AWS), Google, and Microsoft today which hold an estimated 51% of the marketplace for X86 cloud

infrastructure and X86 disaster recovery platforms.

Today, the IBM Power community, based on a recent IBM user survey, only 15% of the

IBM Power server community utilizes the cloud.

Other Company services and solutions, outside of the IBM Power user community face many

competitors for cyber security and data analytics, however, these solutions and services are typically provided by the Company to their

existing clients and distribution companies.

However, competition is limited, in the CloudFirst subsidiary for this $36 billion marketplace, compared to the limitless

competitors, competing against Amazon Web Services (AWS), Google, and Microsoft today which hold an estimated 51% of the marketplace for

X86 cloud infrastructure and X86 disaster recovery platforms.

Today, the IBM Power community, based on a recent IBM user survey, only

15% of the IBM Power server community utilizes the cloud.

Other Company services and solutions, outside of the IBM Power user community

face many competitors for cyber security, however, these solutions and services are typically provided by the Company to their existing

clients and distribution companies.

These markets are characterized by frequent product

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and include several large, well-funded and experienced participants.

The Company’s future financial condition and operating results depend

on the Company’s ability to continue to provide a high-quality solution as well as increase distribution of the solutions in each

of the markets in which it competes.

Flagship Solutions, LLC.

The Company’s future financial condition and

operating results depend on the Company’s ability to continue to provide a high-quality solution as well as increase distribution

of the solutions in each of the markets in which it competes.

Flagship Solutions,

On February 4, 2021, we entered into an Agreement

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subsidiary (the “Merger Sub”), Flagship Solutions, LLC (“Flagship”), a Florida limited liability company, and

the owners (collectively, the “Equityholders”) of all of the issued and outstanding limited liability company membership interests

in Flagship (collectively, the “Equity Interests”), pursuant to which, upon the Closing (as defined below), we acquired Flagship

through the merger of Merger Sub with and into Flagship (the “Merger”), with Flagship being the surviving company in the Merger

and becoming, as a result, our wholly-owned subsidiary.

The closing of the Merger (the “Closing”) Flagship was completed on

June 1, 2021.

Flagship is a provider of IBM equipment and solutions, managed services and cloud solutions that include cloud-based server

monitoring and management, 24×7 help desk support, and data center infrastructure management.

the owners (collectively, the “Equity holders”) of all of the issued and outstanding limited liability company membership

interests in Flagship (collectively, the “Equity Interests”), pursuant to which, upon the Closing (as defined below), we acquired

Flagship through the merger of Merger Sub with and into Flagship (the “Merger”), with Flagship being the surviving company

in the Merger and becoming, as a result, our wholly-owned subsidiary.

The closing of the Merger (the “Closing”) was completed

on June 1, 2021.

Flagship is a provider of IBM equipment and solutions, managed services and cloud solutions that include cloud-based

server monitoring and management, 24×7 help desk support, and data center infrastructure management.

Concurrently with the Closing, Flagship and Mark Wyllie,

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Wyllie, as of November 11, 2021, became an Officer of the Company.

Wyllie resigned from all positions he held with

Flagship and the Company on October 28, 2022.

Thomas Kempster has been appointed President of Flagship Solutions Group.

The foregoing information has been filed as an exhibit

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with this transaction.

In December 2019, a novel

strain of coronavirus, COVID-19, was reported in Wuhan, China.

The World Health Organization determined that the outbreak constituted

a “Public Health Emergency of International Concern” and declared a pandemic.

The COVID-19 pandemic is disrupting businesses

and affecting production and sales across a range of industries, as well as causing volatility in the financial markets.

The extent of

the impact of the COVID-19 pandemic on the Company’s customer demand, sales and financial performance will depend on certain developments,

including, among other things, the duration and spread of the outbreak and the impact on its customers and employees, all of which are

uncertain and cannot be predicted.

See “Risk Factors” for information regarding certain risks associated with the pandemic.

COVID-19 pandemic has accelerated cloud transformation efforts for new and existing customers and underscored the importance and mission-critical

nature of multi-cloud strategies.

Over the last year, customers have increasingly turned to cloud solutions to pivot to new business models,

improved their disaster recovery of mission-critical data, migrated to cloud-based solutions and reduced their capital expenditure requirements.

Since September 2021 the

Company has adopted a hybrid model that allows for its employees to either work remotely utilizing solutions the Company provides to their

clients and distribution channels, or work in its offices.

Additionally, the Company’s remote, technology-enabled model has enabled

minimal disruption to its go-to-market efforts and service delivery organizations.

Currently, the COVID-19 pandemic

has not had a significant impact on the Company’s operations or financial performance;

however, the ultimate extent of the impact

of the COVID-19 pandemic on its operational and financial performance will depend on certain developments, including the duration and

spread of the outbreak and its impact on the Company’s customers, vendors and employees and its impact on its sales cycles as well

as industry events, all of which are uncertain and cannot be predicted.

of the impact, if any, will depend on future developments, including actions taken to contain COVID-19.

What changed 10-K

Item 1. Business