Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

v3.21.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Mar. 31, 2021
Dec. 31, 2020
Current Assets:    
Cash and cash equivalents $ 634,312 $ 893,598
Accounts receivable (less allowance for credit losses of $30,000 in 2021 and 2020) 724,683 554,587
Prepaid expenses and other current assets 529,490 239,472
Total Current Assets 1,888,485 1,687,657
Property and Equipment:    
Property and equipment 8,152,661 7,845,423
Less-Accumulated depreciation (5,762,511) (5,543,822)
Net Property and Equipment 2,390,150 2,301,601
Other Assets:    
Goodwill 3,015,700 3,015,700
Operating lease right-of-use assets 220,419 241,911
Other assets 49,654 49,310
Intangible assets, net 407,435 455,935
Total Other Assets 3,693,208 3,762,856
Total Assets 7,971,843 7,752,114
Current Liabilities:    
Accounts payable and accrued expenses 1,538,231 979,552
Dividend payable 1,154,556 1,115,674
Deferred revenue 402,404 461,893
Line of Credit 24 24
Finance lease payable 171,099 168,139
Finance leases payable related party 1,102,488 1,149,403
Operating lease liabilities short term 105,319 104,549
Note payable 455,200 374,871
Total Current Liabilities 4,929,321 4,354,105
Note payable long term 26,777 107,106
Operating lease liabilities long term 125,391 147,525
Finance leases payable, long term 208,035 247,677
Finance leases payable related party, long term 757,733 974,743
Total Long-Term Liabilities 1,117,936 1,477,051
Total Liabilities 6,047,257 5,831,156
Stockholders' Equity    
Preferred stock, Series A par value $0.001; 10,000,000 shares authorized; 1,401,786 shares issued and outstanding in each year 1,402 1,402
Common stock, par value $0.001; 250,000,000 shares authorized; 3,215,063 shares issued and outstanding in 2021 and 2020 3,213 3,213
Additional paid in capital 17,787,956 17,745,785
Accumulated deficit (15,771,521) (15,734,737)
Total Data Storage Corp Stockholders' Equity 2,021,050 2,015,663
Non-controlling interest in consolidated subsidiary (96,464) (94,705)
Total Stockholder's Equity 1,924,586 1,920,958
Total Liabilities and Stockholders' Equity $ 7,971,843 $ 7,752,114