Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2023
Dec. 31, 2022
Current Assets:    
Cash and cash equivalents $ 1,882,039 $ 2,286,722
Accounts receivable (less allowance for credit losses of $31,136 and $27,250 in 2023 and 2022, respectively) 3,671,170 3,502,836
 Marketable securities 9,114,391 9,010,968
Prepaid expenses and other current assets 878,460 584,666
Total Current Assets 15,546,060 15,385,192
Property and Equipment:    
Property and equipment 7,597,462 7,168,488
Less—Accumulated depreciation (5,177,980) (4,956,698)
Net Property and Equipment 2,419,482 2,211,790
Other Assets:    
Goodwill 4,238,671 4,238,671
Operating lease right-of-use assets 175,842 226,501
Other assets 65,736 48,437
Intangible assets, net 1,905,914 1,975,644
Total Other Assets 6,386,163 6,489,253
Total Assets 24,351,705 24,086,235
Current Liabilities:    
Accounts payable and accrued expenses 3,699,246 3,207,577
Deferred revenue 309,273 281,060
Finance leases payable 308,180 359,868
Finance leases payable related party 454,115 520,623
Operating lease liabilities short term 143,480 160,657
Total Current Liabilities 4,914,294 4,529,785
       Operating lease liabilities 36,733 71,772
Finance leases payable 192,666 281,242
Finance leases payable related party 139,285 256,241
Total Long-Term Liabilities 368,684 609,255
Total Liabilities 5,282,978 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; 6,834,627 and 6,822,127 shares issued and outstanding in 2023 and 2022, respectively 6,835 6,822
Additional paid in capital 39,068,896 38,982,440
Accumulated deficit (19,836,712) (19,887,378)
Total Data Storage Corp Stockholders' Equity 19,239,019 19,101,884
Non-controlling interest in consolidated subsidiary (170,292) (154,689)
Total Stockholder’s Equity 19,068,727 18,947,195
Total Liabilities and Stockholders' Equity $ 24,351,705 $ 24,086,235