Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2024
Dec. 31, 2023
Current Assets:    
Cash and cash equivalents $ 640,742 $ 1,428,730
Accounts receivable (less provision for credit losses of $62,051 and $7,915 in 2024 and 2023, respectively) 4,437,666 1,259,972
 Marketable securities 11,261,565 11,318,196
Prepaid expenses and other current assets 666,957 513,175
Total Current Assets 17,006,930 14,520,073
Property and Equipment:    
Property and equipment 8,196,862 7,838,225
Less—Accumulated depreciation (5,331,503) (5,105,451)
Net Property and Equipment 2,865,359 2,732,774
Other Assets:    
 Goodwill 4,238,671 4,238,671
 Operating lease right-of-use assets 36,160 62,981
 Other assets 48,436 48,436
 Intangible assets, net 1,628,937 1,698,084
Total Other Assets 5,952,204 6,048,172
Total Assets 25,824,493 23,301,019
Current Liabilities:    
Accounts payable and accrued expenses 4,835,868 2,608,938
Deferred revenue 310,123 336,201
Finance leases payable 214,961 263,600
Finance leases payable related party 155,164 235,944
Operating lease liabilities short term 36,733 63,983
Total Current Liabilities 5,552,849 3,508,666
Finance leases payable 0 17,641
Finance leases payable related party 0 20,297
Total Long-Term Liabilities 0 37,938
Total Liabilities 5,552,849 3,546,604
Commitments and contingencies (Note 7)
Stockholders’ Equity:    
Preferred stock, Series A par value $.001; 10,000,000 shares authorized; 0 shares issued and outstanding as of March 31, 2024 and December 31, 2023 0 0
Common stock, par value $.001; 250,000,000 shares authorized; 6,929,950 and 6,880,460 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively 6,930 6,881
Additional paid in capital 39,661,561 39,490,285
Accumulated deficit (19,148,701) (19,505,803)
Total Data Storage Corporation Stockholders’ Equity 20,519,790 19,991,363
Non-controlling interest in consolidated subsidiary (248,146) (236,948)
Total Stockholder’s Equity 20,271,644 19,754,415
Total Liabilities and Stockholders’ Equity $ 25,824,493 $ 23,301,019