Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

v3.8.0.1
CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2017
Dec. 31, 2016
Current Assets:    
Cash and cash equivalents $ 105,139 $ 255,817
Accounts receivable (less allowance for doubtful accounts of $90,000 in 2017 and $90,000 in 2016) 406,393 807,515
Prepaid expenses and other current assets 120,217 231,432
Total Current Assets 631,749 1,294,764
Property and Equipment:    
Property and equipment 5,237,965 3,401,251
Less-Accumulated depreciation (3,614,177) (3,222,591)
Net Property and Equipment 1,623,788 178,660
Other Assets:    
Goodwill 3,015,700 3,015,700
Employee loans 3,000  
Other assets 75,356 54,504
Intangible assets, net 1,044,046 1,266,909
Total Other Assets 4,138,102 4,337,113
Total Assets 6,393,639 5,810,537
Current Liabilities:    
Accounts payable and accrued expenses 1,087,351 1,219,247
Revolving credit facility 50,412
Accounts payable from acquisition 374,762
Dividend payable 733,673 619,138
Deferred revenue 566,731 919,103
Capital leases payable - related party 658,476 254,078
Notes payable related party 186,906
Note payable - Enterprise Bank 350,000 350,000
Total Current Liabilities 3,583,137 3,786,740
Deferred rental obligation 1,061 1,904
Convertible debt related parties
Notes payable related party 99,915 190,000
Capital leases payable related party, long-term 1,130,764 133,825
Total Long-Term Liabilities 1,231,740 325,729
Total Liabilities 4,814,877 4,112,469
Commitments and contingencies
Stockholders' Equity (Deficit):    
Common stock, par value $0.001; 250,000,000 shares authorized; 128,139,418 and 128,039,418 shares issued and outstanding in 2017 and 2016, respectively 128,139 128,039
Additional paid in capital 17,377,986 17,194,383
Accumulated deficit (15,924,376) (15,625,756)
Total Data Storage Corp Stockholders' Equity(Deficit) 1,583,151 1,698,068
Non-controlling interest in consolidated subsidiary (4,389)
Total Stockholder's Equity(Deficit) 1,578,762 1,698,068
Total Liabilities and Stockholders' Equity(Deficit) 6,393,639 5,810,537
Series A Preferred Stock [Member]    
Stockholders' Equity (Deficit):    
Preferred stock, Series A par value $.001; 10,000,000 shares authorized; 1,401,786 shares issued and outstanding in each period $ 1,402 $ 1,402