10-Q Filing

DATASEA INC. CIK: 1631282 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001213900-19-023567`
Period End Date	20190930
Filing Date	20191114
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	dtss-20190930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 65 Income Statement 34 Cash Flow Statement 47 Stockholders Equity 22

Balance Sheet 65 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`	$1.03M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$832.08K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$6.07M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$3.32M	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	20.94M	shares	Point-in-time
Inventory	`InventoryNet`	$73.29K	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	20.94M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	20.94M	shares	Point-in-time
Inventory	`InventoryNet`	$70.41K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssets`	$252.23K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssets`	$105.93K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$6.25M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$3.64M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$41.12K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$35.76K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$555.81K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$2.24M	USD	Point-in-time
Prepaid expense - non current	`PrepaidExpenseNoncurrent`	-	USD	Point-in-time
Prepaid expense - non current	`PrepaidExpenseNoncurrent`	$221.40K	USD	Point-in-time
Escrow	`EscrowDeposit`	$600.00K	USD	Point-in-time
Escrow	`EscrowDeposit`	$600.00K	USD	Point-in-time
Right-of-use assets	`OperatingLeaseRightOfUseAsset`	$1.20M	USD	Point-in-time
Right-of-use assets	`OperatingLeaseRightOfUseAsset`	-	USD	Point-in-time
Total Assets	`Assets`	$7.93M	USD	Point-in-time
Total Assets	`Assets`	$7.45M	USD	Point-in-time
Accounts payable	`AccruedLiabilitiesCurrent`	$12.57K	USD	Point-in-time
Accounts payable	`AccruedLiabilitiesCurrent`	$13.09K	USD	Point-in-time
Accrued expenses and other payables	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$78.65K	USD	Point-in-time
Accrued expenses and other payables	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$264.68K	USD	Point-in-time
Advances from customer	`ContractWithCustomerLiabilityCurrent`	$1.27M	USD	Point-in-time
Advances from customer	`ContractWithCustomerLiabilityCurrent`	$1.32M	USD	Point-in-time
Loan payable-shareholder	`LoansPayableCurrent`	-	USD	Point-in-time
Loan payable-shareholder	`LoansPayableCurrent`	$86.73K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiability`	$358.94K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiability`	-	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.72M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.68M	USD	Point-in-time
Operating lease liabilities	`OperatingLesaeLiabilitiesNonCurrent`	-	USD	Point-in-time
Operating lease liabilities	`OperatingLesaeLiabilitiesNonCurrent`	$838.88K	USD	Point-in-time
Total Other Liability	`LiabilitiesNoncurrent`	-	USD	Point-in-time
Total Other Liability	`LiabilitiesNoncurrent`	$838.88K	USD	Point-in-time
Total Liabilities	`Liabilities`	$2.56M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.68M	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.001 par value, 375,000,000 shares authorized, 20,943,846 shares issued and outstanding at September 30 and June 30, 2019, respectively	`CommonStockValue`	$20.94K	USD	Point-in-time
Common stock, $0.001 par value, 375,000,000 shares authorized, 20,943,846 shares issued and outstanding at September 30 and June 30, 2019, respectively	`CommonStockValue`	$20.94K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$11.10M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$11.10M	USD	Point-in-time
Accumulated comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$189.91K	USD	Point-in-time
Accumulated comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$196.52K	USD	Point-in-time
Deficit	`RetainedEarningsAccumulatedDeficit`	$-5.55M	USD	Point-in-time
Deficit	`RetainedEarningsAccumulatedDeficit`	$-5.95M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$5.38M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$5.77M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$1.19M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$1.09M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$558.63K	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$7.93M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$7.45M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	-	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	-	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$7.43K	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	-	USD	1 Quarter
Gross deficit	`GrossProfit`	$-7.43K	USD	1 Quarter
Gross deficit	`GrossProfit`	-	USD	1 Quarter
Selling expenses	`SellingExpense`	$51.17K	USD	1 Quarter
Selling expenses	`SellingExpense`	$76.88K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$307.26K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$226.57K	USD	1 Quarter
Research and development expenses	`ResearchAndDevelopmentExpense`	$51.21K	USD	1 Quarter
Research and development expenses	`ResearchAndDevelopmentExpense`	$62.77K	USD	1 Quarter
Total operating expenses:	`OperatingExpenses`	$409.64K	USD	1 Quarter
Total operating expenses:	`OperatingExpenses`	$366.22K	USD	1 Quarter
Loss from operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-409.64K	USD	1 Quarter
Loss from operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-373.65K	USD	1 Quarter
Other (expense), net	`OtherNonoperatingIncomeExpense`	$-9.50K	USD	1 Quarter
Other (expense), net	`OtherNonoperatingIncomeExpense`	$-3.92K	USD	1 Quarter
Interest income	`InterestAndDividendIncomeOperating`	$22.16K	USD	1 Quarter
Interest income	`InterestAndDividendIncomeOperating`	$5.92K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$12.66K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$2.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-396.99K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-371.66K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.60M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.43M	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$-6.61K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$-31.57K	USD	1 Quarter
Total comprehensive (loss)	`OtherComprehensiveIncomeLossTax`	$340.09K	USD	1 Quarter
Total comprehensive (loss)	`OtherComprehensiveIncomeLossTax`	$390.37K	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	20.94M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	19.17M	shares	1 Quarter

Cash Flow Statement 47 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-396.99K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-371.66K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.60M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.43M	USD	Annual
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$6.97K	USD	1 Quarter
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$12.16K	USD	1 Quarter
Expenses paid by president	`ExpensesPaidByPresident`	-	USD	1 Quarter
Expenses paid by president	`ExpensesPaidByPresident`	-	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpense`	$-5.56K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpense`	$378.37K	USD	1 Quarter
Right-of-use assets	`RightofuseAssets`	-	USD	1 Quarter
Right-of-use assets	`RightofuseAssets`	$1.22M	USD	1 Quarter
Accrued expenses and other payables	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-176.00K	USD	1 Quarter
Accrued expenses and other payables	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-81.45K	USD	1 Quarter
Operating lease liabilities	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	-	USD	1 Quarter
Operating lease liabilities	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$1.22M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-944.38K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-435.39K	USD	1 Quarter
Acquisition of office equipment	`PaymentsToAcquireMachineryAndEquipment`	$4.88K	USD	1 Quarter
Acquisition of office equipment	`PaymentsToAcquireMachineryAndEquipment`	$1.41K	USD	1 Quarter
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$14.70K	USD	1 Quarter
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$1.69M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-19.58K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.69M	USD	1 Quarter
Payment of loan payable - shareholder, net	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-26.47K	USD	1 Quarter
Payment of loan payable - shareholder, net	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-84.86K	USD	1 Quarter
Net proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Net proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$246.94K	USD	1 Quarter
Net proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$5.70M	USD	Point-in-time
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-84.86K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$220.47K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$35.09K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-35.26K	USD	1 Quarter
Net increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.75M	USD	1 Quarter
Net increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-199.41K	USD	1 Quarter
Cash - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.03M	USD	Point-in-time
Cash - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$832.08K	USD	Point-in-time
Cash - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.07M	USD	Point-in-time
Cash - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.32M	USD	Point-in-time
Cash - end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.03M	USD	Point-in-time
Cash - end of period	`CashAndCashEquivalentsAtCarryingValue`	$832.08K	USD	Point-in-time
Cash - end of period	`CashAndCashEquivalentsAtCarryingValue`	$6.07M	USD	Point-in-time
Cash - end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.32M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	-	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	-	USD	1 Quarter
Cash paid for income tax	`IncomeTaxesPaid`	-	USD	1 Quarter
Cash paid for income tax	`IncomeTaxesPaid`	-	USD	1 Quarter

Stockholders Equity 22 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$5.38M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.77M	USD	Point-in-time
Balance	`StockholdersEquity`	$1.19M	USD	Point-in-time
Balance	`StockholdersEquity`	$1.09M	USD	Point-in-time
Balance	`StockholdersEquity`	$558.63K	USD	Point-in-time
Sale of common stock	`StockIssuedDuringPeriodValueNewIssues`	$307.45K	USD	Annual
Sale of common stock	`StockIssuedDuringPeriodValueNewIssues`	$2.12M	USD	Annual
Sale of common stock	`StockIssuedDuringPeriodValueNewIssues`	$244.66K	USD	1 Quarter
Sale of common stock-offering	`StockIssuedDuringPeriodValueIssuedForServices`	$5.68M	USD	Annual
Net loss	`NetIncomeLoss`	$-396.99K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-371.66K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.60M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.43M	USD	Annual
Foreign currency translation gain	`TemporaryEquityForeignCurrencyTranslationAdjustments`	$6.61K	USD	1 Quarter
Foreign currency translation gain	`TemporaryEquityForeignCurrencyTranslationAdjustments`	$113.10K	USD	Annual
Foreign currency translation gain	`TemporaryEquityForeignCurrencyTranslationAdjustments`	$19.11K	USD	Annual
Foreign currency translation gain	`TemporaryEquityForeignCurrencyTranslationAdjustments`	$31.57K	USD	1 Quarter
Balance	`StockholdersEquity`	$5.38M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.77M	USD	Point-in-time
Balance	`StockholdersEquity`	$1.19M	USD	Point-in-time
Balance	`StockholdersEquity`	$1.09M	USD	Point-in-time
Balance	`StockholdersEquity`	$558.63K	USD	Point-in-time

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