Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2018
Dec. 31, 2017
Current Assets:    
Cash and cash equivalents $ 81,976 $ 105,139
Accounts receivable (less allowance for doubtful accounts of $90,000 in 2018 and $90,000 in 2017) 1,013,537 406,393
Prepaid expenses and other current assets 101,189 120,217
Total Current Assets 1,196,702 631,749
Property and Equipment:    
Property and equipment 5,262,100 5,237,965
Less-Accumulated depreciation (3,822,240) (3,614,177)
Net Property and Equipment 1,439,860 1,623,788
Other Assets:    
Goodwill 3,015,700 3,015,700
Employee Loans 3,000 3,000
Other assets 70,491 75,356
Intangible assets, net 945,379 1,044,046
Total Other Assets 4,034,570 4,138,102
Total Assets 6,671,132 6,393,639
Current Liabilities:    
Accounts payable and accrued expenses 1,503,295 1,087,351
Dividend payable 795,608 733,673
Deferred revenue 484,180 566,731
Capital leases payable - related party 476,544 658,476
Notes payable - related party 186,906
Note payable - Enterprise Bank 350,000 350,000
Total Current Liabilities 3,609,627 3,583,137
Deferred rental obligation 571 1,061
Note Payable - related party, long term 99,915
Capital leases payable - related party, long term 1,486,943 1,130,764
Total Long-Term Liabilities 1,487,514 1,231,740
Total Liabilities 5,097,141 4,814,877
Stockholders' Deficit:    
Preferred Stock, $.001 par value; 10,000,000 shares authorized; 1,401,786 shares issued and outstanding in each period 1,402 1,402
Common stock, par value $0.001; 250,000,000 shares authorized; 128,139,418 and 128,039,418 shares issued and outstanding in 2018 and 2017, respectively 128,139 128,139
Additional paid in capital 17,380,037 17,377,986
Accumulated deficit (15,923,430) (15,924,376)
Total Data Storage Corp Stockholders' Equity 1,586,148 1,583,151
Non-controlling interest in consolidated subsidiary (12,157) (4,389)
Total Stockholders' Equity 1,573,991 1,578,762
Total Liabilities and Stockholders' Equity $ 6,671,132 $ 6,393,639