Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2024
Dec. 31, 2023
Current Assets:    
Cash and cash equivalents $ 779,986 $ 1,428,730
Accounts receivable (less provision for credit losses of $22,596 and $7,915 in 2024 and 2023, respectively) 1,904,759 1,259,972
 Marketable securities 11,214,006 11,318,196
Prepaid expenses and other current assets 759,979 513,175
Total Current Assets 14,658,730 14,520,073
Property and Equipment:    
Property and equipment 8,740,796 7,838,225
Less—Accumulated depreciation (5,602,454) (5,105,451)
Net Property and Equipment 3,138,342 2,732,774
Other Assets:    
 Goodwill 4,238,671 4,238,671
 Operating lease right-of-use assets 632,733 62,981
 Other assets 109,843 48,436
 Intangible assets, net 1,560,577 1,698,084
Total Other Assets 6,541,824 6,048,172
Total Assets 24,338,896 23,301,019
Current Liabilities:    
Accounts payable and accrued expenses 2,924,572 2,608,938
Deferred revenue 208,944 336,201
Finance leases payable 147,769 263,600
Finance leases payable related party 113,467 235,944
Operating lease liabilities short term 65,983 63,983
Total Current Liabilities 3,460,735 3,508,666
Operating lease liabilities 574,182 0
Finance leases payable 0 17,641
Finance leases payable related party 0 20,297
Total Long-Term Liabilities 574,182 37,938
Total Liabilities 4,034,917 3,546,604
Commitments and contingencies (Note 7)
Stockholders’ Equity:    
Preferred stock, Series A par value $0.001; 10,000,000 shares authorized; 0 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively 0 0
Common stock, par value $0.001; 250,000,000 shares authorized; 6,995,822 and 6,880,460 shares issued and outstanding as of June 30, 2024, and December 31, 2023, respectively 6,995 6,881
Additional paid in capital 39,940,436 39,490,285
Accumulated deficit (19,392,941) (19,505,803)
Total Data Storage Corporation Stockholders’ Equity 20,554,490 19,991,363
Non-controlling interest in consolidated subsidiary (250,511) (236,948)
Total Stockholder’s Equity 20,303,979 19,754,415
Total Liabilities and Stockholders’ Equity $ 24,338,896 $ 23,301,019