Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Sep. 30, 2023
Dec. 31, 2022
Current Assets:    
Cash $ 993,388 $ 2,286,722
Accounts Receivable (less allowance for credit losses of $49,460 and $27,250 in 2023 and 2022, respectively) 2,344,343 3,502,836
Marketable securities 10,531,921 9,010,968
Prepaid expenses and other current assets 872,033 584,666
Total Current Assets 14,741,685 15,385,192
Property and Equipment:    
Property and Equipment 7,540,204 7,168,488
Less—Accumulated Depreciation (4,801,184) (4,956,698)
Net Property and Equipment 2,739,020 2,211,790
Other Assets:    
 Goodwill 4,238,671 4,238,671
 Operating Lease Right-of-Use Assets 89,547 226,501
 Other Assets 48,437 48,437
 Intangible Assets, net 1,767,231 1,975,644
Total Other Assets 6,143,886 6,489,253
Total Assets 23,624,591 24,086,235
Current Liabilities:    
Accounts Payable and Accrued Expenses 2,858,724 3,207,577
Deferred Revenue 259,542 281,060
Finance Leases Payable Short Term 266,937 359,868
Finance Leases Payable Related Party Short Term 323,808 520,623
Operating Lease Liabilities Short Term 90,979 160,657
Total Current Liabilities 3,799,990 4,529,785
 Operating Lease Liabilities 71,772
Finance Leases Payable 79,652 281,242
Finance Leases Payable Related Party 60,769 256,241
Total Long-Term Liabilities 140,421 609,255
Total Liabilities 3,940,411 5,139,040
Commitments and Contingencies (Note 6)
Stockholders’ Equity:    
Preferred Stock, Series A par value $0.001; 10,000,000 shares authorized; 0 and 0 shares issued and outstanding in 2023 and 2022, respectively
Common Stock, par value $0.001; 250,000,000 shares authorized; 6,859,627 and 6,822,127 shares issued and outstanding in 2023 and 2022, respectively 6,860 6,822
Additional Paid in Capital 39,320,548 38,982,440
Accumulated Deficit (19,430,878) (19,887,378)
Total Data Storage Corporation Stockholders’ Equity 19,896,530 19,101,884
Non-Controlling Interest in Consolidated Subsidiary (212,350) (154,689)
Total Stockholder’s Equity 19,684,180 18,947,195
Total Liabilities and Stockholders’ Equity $ 23,624,591 $ 24,086,235