10-K Filing

DATASEA INC. CIK: 1631282 FY 2019

Filing Information

Form Type	10-K
Accession Number	`0001213900-19-020387`
Period End Date	20190630
Filing Date	20191015
Fiscal Year	2019
Fiscal Period	FY
XBRL Instance	dtss-20190630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 52 Income Statement 32 Cash Flow Statement 55 Stockholders Equity 17

Balance Sheet 52 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	375.00M	shares	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	375.00M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	20.94M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.17M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.03M	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	19.17M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$6.07M	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	19.17M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	20.94M	shares	Point-in-time
Inventory	`InventoryNet`	$73.29K	USD	Point-in-time
Inventory	`InventoryNet`	$75.91K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssets`	$127.88K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssets`	$105.93K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.24M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$6.25M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$55.27K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$41.12K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$13.89K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$555.81K	USD	Point-in-time
Deferred registration costs	`DeferredCosts`	-	USD	Point-in-time
Deferred registration costs	`DeferredCosts`	$72.53K	USD	Point-in-time
Escrow	`EscrowDeposit`	$600.00K	USD	Point-in-time
Escrow	`EscrowDeposit`	-	USD	Point-in-time
Total Assets	`Assets`	$7.45M	USD	Point-in-time
Total Assets	`Assets`	$1.38M	USD	Point-in-time
Accounts payable	`AccruedLiabilitiesCurrent`	$13.50K	USD	Point-in-time
Accounts payable	`AccruedLiabilitiesCurrent`	$13.09K	USD	Point-in-time
Accrued expenses and other payables	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$264.68K	USD	Point-in-time
Accrued expenses and other payables	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$147.28K	USD	Point-in-time
Advances from customers	`ContractWithCustomerLiabilityCurrent`	$1.32M	USD	Point-in-time
Advances from customers	`ContractWithCustomerLiabilityCurrent`	$3.00K	USD	Point-in-time
Loan payable-shareholder	`LoansPayableCurrent`	$86.73K	USD	Point-in-time
Loan payable-shareholder	`LoansPayableCurrent`	$27.06K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.68M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$190.84K	USD	Point-in-time
Commitments and Coningencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Coningencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.001 par value, 375,000,000 shares authorized, 20,943,846 and 19,170,846 shares issued and outstanding at June 30, 2019 and 2018, respectively	`CommonStockValue`	$20.94K	USD	Point-in-time
Common stock, $0.001 par value, 375,000,000 shares authorized, 20,943,846 and 19,170,846 shares issued and outstanding at June 30, 2019 and 2018, respectively	`CommonStockValue`	$19.17K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$5.12M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$11.10M	USD	Point-in-time
Accumulated comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$170.79K	USD	Point-in-time
Accumulated comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$189.91K	USD	Point-in-time
Deficit	`RetainedEarningsAccumulatedDeficit`	$-5.55M	USD	Point-in-time
Deficit	`RetainedEarningsAccumulatedDeficit`	$-4.12M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$1.19M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$5.77M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$558.63K	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$7.45M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$1.38M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	$10.57K	USD	Annual
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	-	USD	Annual
Cost of goods sold	`CostOfGoodsAndServicesSold`	$4.82K	USD	Annual
Cost of goods sold	`CostOfGoodsAndServicesSold`	-	USD	Annual
Gross profit	`GrossProfit`	-	USD	Annual
Gross profit	`GrossProfit`	$5.75K	USD	Annual
Selling expenses	`SellingExpense`	$199.49K	USD	Annual
Selling expenses	`SellingExpense`	$172.03K	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.13M	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.13M	USD	Annual
Research and development expenses	`ResearchAndDevelopmentExpense`	$168.25K	USD	Annual
Research and development expenses	`ResearchAndDevelopmentExpense`	$361.62K	USD	Annual
Total operating expenses:	`OperatingExpenses`	$1.50M	USD	Annual
Total operating expenses:	`OperatingExpenses`	$1.67M	USD	Annual
Loss from operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.66M	USD	Annual
Loss from operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.50M	USD	Annual
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$57.56K	USD	Annual
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$-1.73K	USD	Annual
Interest income (expense)	`InterestAndDividendIncomeOperating`	$-274.00	USD	Annual
Interest income (expense)	`InterestAndDividendIncomeOperating`	$75.86K	USD	Annual
Total other income	`NonoperatingIncomeExpense`	$57.29K	USD	Annual
Total other income	`NonoperatingIncomeExpense`	$74.13K	USD	Annual
Net loss	`NetIncomeLoss`	$-1.43M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.60M	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$-19.11K	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$-113.10K	USD	Annual
Total comprehensive loss	`OtherComprehensiveIncomeLossTax`	$1.49M	USD	Annual
Total comprehensive loss	`OtherComprehensiveIncomeLossTax`	$1.41M	USD	Annual
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.07	USD	Annual
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.08	USD	Annual
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	19.13M	shares	Annual
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	20.12M	shares	Annual

Cash Flow Statement 55 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.43M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.60M	USD	Annual
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$32.69K	USD	Annual
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$36.31K	USD	Annual
Expenses paid by president	`ExpensesPaidByPresident`	-	USD	Annual
Expenses paid by president	`ExpensesPaidByPresident`	$9.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-225.00	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$-279.00	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$-27.20K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$-18.12K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$31.66K	USD	Annual
Accrued expenses and other payables	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$81.96K	USD	Annual
Accrued expenses and other payables	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$122.64K	USD	Annual
Advances from customer	`IncreaseDecreaseInAdvancesFromCustomer`	$-1.32M	USD	Annual
Advances from customer	`IncreaseDecreaseInAdvancesFromCustomer`	-	USD	Annual
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.48M	USD	Annual
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$75.95K	USD	Annual
Acquisition of office equipment	`PaymentsToAcquireMachineryAndEquipment`	$18.92K	USD	Annual
Acquisition of office equipment	`PaymentsToAcquireMachineryAndEquipment`	$25.92K	USD	Annual
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$1.54K	USD	Annual
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$547.47K	USD	Annual
Net cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-27.45K	USD	Annual
Net cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-566.38K	USD	Annual
Proceeds (Repayment) of loan payable - shareholder, net	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-123.85K	USD	Annual
Proceeds (Repayment) of loan payable - shareholder, net	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$60.87K	USD	Annual
Net proceeds from public offering	`ProceedsFromIssuanceInitialPublicOffering`	$4.84M	USD	Annual
Net proceeds from public offering	`ProceedsFromIssuanceInitialPublicOffering`	-	USD	Annual
Deferred registration costs	`PaymentsOfFinancingCosts`	-	USD	Annual
Deferred registration costs	`PaymentsOfFinancingCosts`	$72.41K	USD	Annual
Net proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$307.44K	USD	Annual
Net proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$1.43M	USD	Annual
Net proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$5.70M	USD	Point-in-time
Release from escrow account	`ProceedsFromEscrowAccount`	-	USD	Annual
Release from escrow account	`ProceedsFromEscrowAccount`	$400.00K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.24M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$5.61M	USD	Annual
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-77.62K	USD	Annual
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$132.85K	USD	Annual
Net increase(decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-143.46K	USD	Annual
Net increase(decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$5.04M	USD	Annual
Cash - beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$1.17M	USD	Point-in-time
Cash - beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$1.03M	USD	Point-in-time
Cash - beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$6.07M	USD	Point-in-time
Cash - end of year	`CashAndCashEquivalentsAtCarryingValue`	$1.17M	USD	Point-in-time
Cash - end of year	`CashAndCashEquivalentsAtCarryingValue`	$1.03M	USD	Point-in-time
Cash - end of year	`CashAndCashEquivalentsAtCarryingValue`	$6.07M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	-	USD	Annual
Cash paid for interest	`InterestPaidNet`	-	USD	Annual
Cash paid for income tax	`IncomeTaxesPaid`	-	USD	Annual
Cash paid for income tax	`IncomeTaxesPaid`	-	USD	Annual
Expenses paid by president	`NonCashFinancingActivityExpensesPaidByPresident`	-	USD	Annual
Expenses paid by president	`NonCashFinancingActivityExpensesPaidByPresident`	$9.00K	USD	Annual
Proceeds from public offering held in escrow	`ProceedsFromPublicOfferingHeldInEscrow`	-	USD	Annual
Proceeds from public offering held in escrow	`ProceedsFromPublicOfferingHeldInEscrow`	$600.00K	USD	Annual

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$1.19M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.77M	USD	Point-in-time
Balance	`StockholdersEquity`	$558.63K	USD	Point-in-time
Balance, shares	`CommonStockSharesOutstanding`	19.17M	shares	Point-in-time
Balance, shares	`CommonStockSharesOutstanding`	20.94M	shares	Point-in-time
Sale of common stock	`StockIssuedDuringPeriodValueNewIssues`	$307.45K	USD	Annual
Sale of common stock	`StockIssuedDuringPeriodValueNewIssues`	$2.12M	USD	Annual
Net proceeds from public offering	`StockIssuedDuringPeriodValueIssuedForServices`	$5.68M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.43M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.60M	USD	Annual
Foreign currency translation gain	`TemporaryEquityForeignCurrencyTranslationAdjustments`	$19.11K	USD	Annual
Foreign currency translation gain	`TemporaryEquityForeignCurrencyTranslationAdjustments`	$113.10K	USD	Annual
Balance	`StockholdersEquity`	$1.19M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.77M	USD	Point-in-time
Balance	`StockholdersEquity`	$558.63K	USD	Point-in-time
Balance, shares	`CommonStockSharesOutstanding`	19.17M	shares	Point-in-time
Balance, shares	`CommonStockSharesOutstanding`	20.94M	shares	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.