Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2018
Dec. 31, 2017
Current Assets:    
Cash and cash equivalents $ 228,790 $ 105,139
Accounts receivable (less allowance for doubtful accounts of $30,000 in 2018 and $90,000 in 2017) 531,245 406,393
Prepaid expenses and other current assets 167,891 120,217
Total Current Assets 927,926 631,749
Property and Equipment:    
Property and equipment 5,293,711 5,237,965
Less-Accumulated depreciation (4,005,338) (3,614,177)
Net Property and Equipment 1,228,373 1,623,788
Other Assets:    
Goodwill 3,015,700 3,015,700
Employee loans 3,000
Other assets 65,433 75,356
Intangible assets, net 552,445 1,044,046
Total Other Assets 3,927,846 4,138,102
Total Assets 6,144,145 6,393,639
Current Liabilities:    
Accounts payable and accrued expenses 988,579 1,087,351
Dividend payable 846,685 733,673
Deferred revenue 435,406 566,731
Capital leases payable related party 509,487 658,476
Notes payable related party 186,906
Note payable 350,000 350,000
Total Current Liabilities 3,130,157 3,583,137
Deferred rental obligation 18,890 1,061
Notes payable related party 99,915
Capital leases payable related party, long-term 1,218,703 1,130,764
Total Long-Term Liabilities 1,237,593 1,231,740
Total Liabilities 4,367,750 4,814,877
Commitments and contingencies
Stockholders' Equity    
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 17,409,989 17,377,986
Accumulated deficit (15,735,624) (15,924,376)
Total Data Storage Corp Stockholders' Equity 1,803,906 1,583,151
Non-controlling interest in consolidated subsidiary (27,511) (4,389)
Total Stockholder's Equity 1,776,395 1,578,762
Total Liabilities and Stockholders' Equity 6,144,145 6,393,639
Series A Preferred Stock [Member]    
Stockholders' Equity    
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