Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2019
Dec. 31, 2018
Current Assets:    
Cash and cash equivalents $ 326,561 $ 228,790
Accounts receivable (less allowance for doubtful accounts of $30,000 in 2019 and 2018) 691,436 531,245
Prepaid expenses and other current assets 80,728 167,891
Total Current Assets 1,098,725 927,926
Property and Equipment:    
Property and equipment 6,894,087 5,293,711
Less-Accumulated depreciation (4,705,256) (4,005,338)
Net Property and Equipment 2,188,831 1,288,373
Other Assets:    
Goodwill 3,015,700 3,015,700
Operating lease right-of-use assets 324,267
Other assets 65,433 65,433
Intangible assets, net 649,934 846,713
Total Other Assets 4,055,334 3,927,846
Total Assets 7,342,890 6,144,145
Current Liabilities:    
Accounts payable and accrued expenses 906,716 988,579
Dividend payable 970,997 846,685
Deferred revenue 432,942 435,406
Line of Credit 75,000
Finance leases payable related party 833,148 509,487
Operating lease liabilities short term 101,505
Note payable 350,000 350,000
Total Current Liabilities 3,670,308 3,130,157
Deferred Rental obligation 18,890
Operating lease liabilities long term 231,312
Finance leases payable related party, long term 1,713,122 1,218,703
Total Long-Term Liabilities 1,944,434 1,237,593
Total Liabilities 5,614,742 4,367,750
Stockholders' Equity    
Preferred stock, Series A par value $.001; 10,000,000 shares authorized; 1,401,786 shares issued and outstanding in each year 1,402 1,402
Common stock, par value $.001; 250,000,000 shares authorized; 128,439,418 and 128,139,418 shares issued and outstanding in 2019 and 2018, respectively 128,439 128,139
Additional paid in capital 17,456,431 17,409,989
Accumulated deficit (15,790,076) (15,735,624)
Total Data Storage Corp Stockholders' Equity 1,796,196 1,803,906
Non-controlling interest in consolidated subsidiary (68,048) (27,511)
Total Stockholder's Equity 1,728,148 1,776,395
Total Liabilities and Stockholders' Equity $ 7,342,890 $ 6,144,145