Data Storage Corporation Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2020

Note 4 - Goodwill and Intangible Assets

Goodwill and intangible assets consisted of the following:

	Estimated	June 30, 2020
	life in years	Gross amount		Accumulated Amortization		Net
Intangible assets not subject to amortization
Goodwill	Indefinite	$	3,015,700	$	—	$	3,015,700
Trademarks	Indefinite		294,268		—		294,268
Total intangible assets not subject to amortization			3,309,968		—		3,309,968
Intangible assets subject to amortization
Customer lists	5-15		897,274		897,274		-
ABC acquired contracts	5		310,000		227,333		82,667
SIAS acquired contracts	5		660,000		484,000		176,000
Non-compete agreements	4		272,147		272,147		-
Total intangible assets subject to amortization			2,139,421		1,880,754		258,667
Total Goodwill and Intangible Assets		$	5,449,389	$	1,880,754	$	3,568,635

Scheduled amortization over the next two years as follows:

Amortization expense for the years ended June 30, 2020 and 2019 were $97,000 and $98,667 respectively.