Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Jun. 30, 2023
Dec. 31, 2022
Current Assets:    
Cash and cash equivalents $ 1,437,039 $ 2,286,722
Accounts receivable (less allowance for credit losses of $39,622 and $27,250 in 2023 and 2022, respectively) 2,221,602 3,502,836
Marketable securities 9,230,254 9,010,968
Prepaid expenses and other current assets 736,386 584,666
Total Current Assets 13,625,281 15,385,192
Property and Equipment:    
Property and equipment 7,458,932 7,168,488
Less—Accumulated depreciation (4,531,811) (4,956,698)
Net Property and Equipment 2,927,121 2,211,790
Other Assets:    
 Goodwill 4,238,671 4,238,671
 Operating lease right-of-use assets 124,475 226,501
 Other assets 48,436 48,437
 Intangible assets, net 1,836,378 1,975,644
Total Other Assets 6,247,960 6,489,253
Total Assets 22,800,362 24,086,235
Current Liabilities:    
Accounts payable and accrued expenses 2,088,477 3,207,577
Deferred revenue 314,066 281,060
Finance leases payable 279,461 359,868
Finance leases payable related party 368,433 520,623
Operating lease liabilities short term 117,627 160,657
Total Current Liabilities 3,168,064 4,529,785
 Operating lease liabilities 9,226 71,772
Finance leases payable 125,167 281,242
Finance leases payable related party 100,426 256,241
Total Long-Term Liabilities 234,819 609,255
Total Liabilities 3,402,883 5,139,040
Commitments and contingencies (Note 6)
Stockholders’ Equity:    
Preferred stock, Series A par value $.001; 10,000,000 shares authorized; 0 and 0 shares issued and outstanding in 2023 and 2022, respectively
Common stock, par value $.001; 250,000,000 shares authorized; 6,847,127 and 6,822,127 shares issued and outstanding in 2023 and 2022, respectively 6,847 6,822
Additional paid in capital 39,191,598 38,982,440
Accumulated deficit (19,609,889) (19,887,378)
Total Data Storage Corp Stockholders’ Equity 19,588,556 19,101,884
Non-controlling interest in consolidated subsidiary (191,077) (154,689)
Total Stockholder’s Equity 19,397,479 18,947,195
Total Liabilities and Stockholders’ Equity $ 22,800,362 $ 24,086,235