Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2022
Dec. 31, 2021
Current Assets:    
Cash and cash equivalents $ 2,286,722 $ 12,135,803
Accounts receivable (less allowance for credit losses of $27,250 and $30,000 in 2022 and 2021, respectively) 3,502,836 2,384,367
 Marketable securities 9,010,968
Prepaid expenses and other current assets 584,666 536,401
Total Current Assets 15,385,192 15,056,571
Property and Equipment:    
Property and equipment 7,168,488 6,595,236
Less—Accumulated depreciation (4,956,698) (4,657,765)
Net Property and Equipment 2,211,790 1,937,471
Other Assets:    
     Goodwill 4,238,671 6,560,671
     Operating lease right-of-use assets 226,501 422,318
     Other assets 48,437 103,226
     Intangible assets, net 1,975,644 2,254,566
Total Other Assets 6,489,253 9,340,781
Total Assets 24,086,235 26,334,823
Current Liabilities:    
Accounts payable and accrued expenses 3,207,577 1,343,391
Deferred revenue 281,060 366,859
Finance leases payable 359,868 216,299
Finance leases payable related party 520,623 839,793
Operating lease liabilities short term 160,657 205,414
Total Current Liabilities 4,529,785 2,971,756
    Operating lease liabilities 71,772 226,344
Finance leases payable 281,242 157,424
Finance leases payable related party 256,241 364,654
Total Long-Term Liabilities 609,255 748,422
Total Liabilities 5,139,040 3,720,178
Commitments and contingencies (Note 7)
Stockholders’ Equity:    
Preferred stock, Series A par value $.001; 10,000,000 shares authorized; 0 and 0 shares issued and outstanding in 2022 and 2021, respectively
Common stock, par value $.001; 250,000,000 shares authorized; 6,822,127 and 6,693,793 shares issued and outstanding in 2022 and 2021, respectively 6,822 6,694
Additional paid in capital 38,982,440 38,241,155
Accumulated deficit (19,887,378) (15,530,576)
Total Data Storage Corp Stockholders’ Equity 19,101,884 22,717,273
Non-controlling interest in consolidated subsidiary (154,689) (102,628)
Total Stockholder’s Equity 18,947,195 22,614,645
Total Liabilities and Stockholders’ Equity $ 24,086,235 $ 26,334,823