Annual report [Section 13 and 15(d), not S-K Item 405]

CONSOLIDATED BALANCE SHEETS

v3.25.1
CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Current Assets:    
Cash $ 1,070,097 $ 1,428,730
Accounts receivable (less allowance for credit losses of $31,472   and $7,915 in 2024 and 2023, respectively) 2,225,458 1,259,972
Marketable securities 11,261,006 11,318,196
Prepaid expenses and other current assets 859,502 513,175
Total Current Assets 15,416,063 14,520,073
Property and Equipment:    
Property and equipment 9,598,963 7,838,225
Less—Accumulated depreciation (6,159,307) (5,105,451)
Net Property and Equipment 3,439,656 2,732,774
Other Assets:    
 Goodwill 4,238,671 4,238,671
 Operating lease right-of-use assets 575,380 62,981
 Other assets 183,439 48,436
 Intangible assets, net 1,427,006 1,698,084
Total Other Assets 6,424,496 6,048,172
Total Assets 25,280,215 23,301,019
Current Liabilities:    
Accounts payable and accrued expenses 3,183,379 2,608,938
Deferred revenue 212,390 336,201
Finance leases payable 17,641 263,600
Finance leases payable related party 33,879 235,944
Operating lease liabilities short term 98,860 63,983
Total Current Liabilities 3,546,149 3,508,666
Operating lease liabilities 523,070
Finance leases payable 17,641
Finance leases payable related party 20,297
Deferred Tax Liability  39,031 0
Total Long-Term Liabilities 562,101 37,938
Total Liabilities 4,108,250 3,546,604
Stockholders’ Equity:    
Preferred stock, par value $.001; 10,000,000 shares authorized; 1,401,786 designated as Series A Preferred Stock, par value $.001; 0 shares issued and outstanding on December 31, 2024 and 2023
Common stock, par value $.001; 250,000,000 shares authorized; 7,045,108 and 6,880,460 shares issued and outstanding on December 31, 2024 and 2023, respectively 7,045 6,881
Additional paid in capital 40,417,813 39,490,285
Accumulated deficit (18,982,589) (19,505,803)
Accumulated other comprehensive loss (23,214)
Total Data Storage Corporation Stockholders’ Equity 21,419,055 19,991,363
Non-controlling interest in consolidated subsidiary (247,090) (236,948)
Total Stockholders’ Equity 21,171,965 19,754,415
Total Liabilities and Stockholders’ Equity $ 25,280,215 $ 23,301,019