10-Q Filing

DATASEA INC. CIK: 1631282 Q2 2020

Filing Information

Form Type	10-Q
Accession Number	`0001213900-20-003990`
Period End Date	20191231
Filing Date	20200214
Fiscal Year	2020
Fiscal Period	Q2
XBRL Instance	dtss-20191231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 66 Cash Flow Statement 50 Stockholders Equity 25

Balance Sheet 66 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, shares authorized	`CommonStockSharesAuthorized`	375.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	375.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$6.07M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$5.27M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.03M	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	20.94M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$2.80M	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	20.94M	shares	Point-in-time
Inventory	`InventoryNet`	$73.29K	USD	Point-in-time
Inventory	`InventoryNet`	$74.43K	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	20.94M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	20.94M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssets`	$253.62K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssets`	$105.93K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$3.13M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$6.25M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$242.46K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$41.12K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$1.95M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$555.81K	USD	Point-in-time
Prepaid expense - non current	`PrepaidExpenseNoncurrent`	$126.40K	USD	Point-in-time
Prepaid expense - non current	`PrepaidExpenseNoncurrent`	-	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`	-	USD	Point-in-time
Right-of-use assets	`OperatingLeaseRightOfUseAsset`	$1.11M	USD	Point-in-time
Total Assets	`Assets`	$7.17M	USD	Point-in-time
Total Assets	`Assets`	$7.45M	USD	Point-in-time
Accounts payable	`AccruedLiabilitiesCurrent`	$13.09K	USD	Point-in-time
Accounts payable	`AccruedLiabilitiesCurrent`	$52.77K	USD	Point-in-time
Accrued expenses and other payables	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$264.68K	USD	Point-in-time
Accrued expenses and other payables	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$94.00K	USD	Point-in-time
Advances from customer	`ContractWithCustomerLiabilityCurrent`	$1.32M	USD	Point-in-time
Advances from customer	`ContractWithCustomerLiabilityCurrent`	$1.30M	USD	Point-in-time
Loan payable-shareholder	`LoansPayableCurrent`	$86.73K	USD	Point-in-time
Loan payable-shareholder	`LoansPayableCurrent`	-	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiability`	$579.48K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiability`	-	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.68M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$2.03M	USD	Point-in-time
Operating lease liabilities	`OperatingLesaeLiabilitiesNonCurrent`	$535.42K	USD	Point-in-time
Operating lease liabilities	`OperatingLesaeLiabilitiesNonCurrent`	-	USD	Point-in-time
Total Other Liability	`LiabilitiesNoncurrent`	$535.42K	USD	Point-in-time
Total Other Liability	`LiabilitiesNoncurrent`	-	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 December 31, 2019 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 December 31, 2019 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`	$178.28K	USD	Point-in-time
Deficit	`RetainedEarningsAccumulatedDeficit`	$-5.55M	USD	Point-in-time
Deficit	`RetainedEarningsAccumulatedDeficit`	$-6.70M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$6.45M	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`	$5.38M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$5.77M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$4.61M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$7.17M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$7.45M	USD	Point-in-time

Income Statement 66 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	-	USD	2 Qtrs
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	-	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	-	USD	2 Qtrs
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	-	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$194.00	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	-	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$194.00	USD	2 Qtrs
Cost of goods sold	`CostOfGoodsAndServicesSold`	-	USD	2 Qtrs
Gross defict	`GrossProfit`	$-194.00	USD	1 Quarter
Gross defict	`GrossProfit`	-	USD	1 Quarter
Gross defict	`GrossProfit`	$-194.00	USD	2 Qtrs
Gross defict	`GrossProfit`	-	USD	2 Qtrs
Selling expenses	`SellingExpense`	$58.15K	USD	1 Quarter
Selling expenses	`SellingExpense`	$148.85K	USD	2 Qtrs
Selling expenses	`SellingExpense`	$109.32K	USD	2 Qtrs
Selling expenses	`SellingExpense`	$71.97K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$502.15K	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$945.42K	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$275.58K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$638.16K	USD	1 Quarter
Research and development expenses	`ResearchAndDevelopmentExpense`	$69.16K	USD	1 Quarter
Research and development expenses	`ResearchAndDevelopmentExpense`	$120.36K	USD	2 Qtrs
Research and development expenses	`ResearchAndDevelopmentExpense`	$41.11K	USD	1 Quarter
Research and development expenses	`ResearchAndDevelopmentExpense`	$103.89K	USD	2 Qtrs
Total operating expenses:	`OperatingExpenses`	$765.46K	USD	1 Quarter
Total operating expenses:	`OperatingExpenses`	$388.67K	USD	1 Quarter
Total operating expenses:	`OperatingExpenses`	$754.89K	USD	2 Qtrs
Total operating expenses:	`OperatingExpenses`	$1.18M	USD	2 Qtrs
Loss from operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-765.65K	USD	1 Quarter
Loss from operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.18M	USD	2 Qtrs
Loss from operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-754.89K	USD	2 Qtrs
Loss from operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-388.67K	USD	1 Quarter
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$-6.42K	USD	2 Qtrs
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$3.09K	USD	1 Quarter
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$460.00	USD	1 Quarter
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$-3.46K	USD	2 Qtrs
Interest income	`InterestAndDividendIncomeOperating`	$11.53K	USD	1 Quarter
Interest income	`InterestAndDividendIncomeOperating`	$8.50K	USD	1 Quarter
Interest income	`InterestAndDividendIncomeOperating`	$14.42K	USD	2 Qtrs
Interest income	`InterestAndDividendIncomeOperating`	$33.69K	USD	2 Qtrs
Total other income	`NonoperatingIncomeExpense`	$10.95K	USD	2 Qtrs
Total other income	`NonoperatingIncomeExpense`	$27.28K	USD	2 Qtrs
Total other income	`NonoperatingIncomeExpense`	$8.96K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$14.62K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-396.99K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-743.94K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-379.71K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-371.66K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-751.03K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.15M	USD	2 Qtrs
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$11.62K	USD	2 Qtrs
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$7.45K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$18.24K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$-24.12K	USD	2 Qtrs
Total comprehensive loss	`OtherComprehensiveIncomeLossTax`	$1.16M	USD	2 Qtrs
Total comprehensive loss	`OtherComprehensiveIncomeLossTax`	$719.81K	USD	2 Qtrs
Total comprehensive loss	`OtherComprehensiveIncomeLossTax`	$387.16K	USD	1 Quarter
Total comprehensive loss	`OtherComprehensiveIncomeLossTax`	$769.27K	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.04	USD	2 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.04	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.05	USD	2 Qtrs
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	19.45M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	20.94M	shares	2 Qtrs
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	19.31M	shares	2 Qtrs
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	20.94M	shares	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-396.99K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-743.94K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-379.71K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-371.66K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-751.03K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.15M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$19.32K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$13.19K	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$-278.00	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$2.12K	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpense`	$271.65K	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpense`	$-1.41K	USD	2 Qtrs
Right-of-use assets	`RightofuseAssets`	$1.10M	USD	2 Qtrs
Right-of-use assets	`RightofuseAssets`	-	USD	2 Qtrs
Accrued expenses and other payables	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-71.92K	USD	2 Qtrs
Accrued expenses and other payables	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-163.64K	USD	2 Qtrs
Operating lease liabilities	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$1.10M	USD	2 Qtrs
Operating lease liabilities	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	-	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.57M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-794.85K	USD	2 Qtrs
Acquisition of office equipment	`PaymentsToAcquireMachineryAndEquipment`	$208.54K	USD	2 Qtrs
Acquisition of office equipment	`PaymentsToAcquireMachineryAndEquipment`	$15.75K	USD	2 Qtrs
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$1.40M	USD	2 Qtrs
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$14.58K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-30.34K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.61M	USD	2 Qtrs
Payment of loan payable - shareholder, net	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-17.51K	USD	2 Qtrs
Payment of loan payable - shareholder, net	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-84.23K	USD	2 Qtrs
Net proceeds from sale of common stock	`ProceedsFromSaleOfCommonStock`	-	USD	2 Qtrs
Net proceeds from sale of common stock	`ProceedsFromSaleOfCommonStock`	$4.75M	USD	2 Qtrs
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	2 Qtrs
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$307.72K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-84.23K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$5.04M	USD	2 Qtrs
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$28.57K	USD	2 Qtrs
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-2.89K	USD	2 Qtrs
Net (decrease) increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.27M	USD	2 Qtrs
Net (decrease) increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$4.24M	USD	2 Qtrs
Cash - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.07M	USD	Point-in-time
Cash - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.27M	USD	Point-in-time
Cash - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.03M	USD	Point-in-time
Cash - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.80M	USD	Point-in-time
Cash - end of period	`CashAndCashEquivalentsAtCarryingValue`	$6.07M	USD	Point-in-time
Cash - end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.27M	USD	Point-in-time
Cash - end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.03M	USD	Point-in-time
Cash - end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.80M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	-	USD	2 Qtrs
Cash paid for interest	`InterestPaidNet`	-	USD	2 Qtrs
Cash paid for income tax	`IncomeTaxesPaid`	-	USD	2 Qtrs
Cash paid for income tax	`IncomeTaxesPaid`	-	USD	2 Qtrs

Stockholders Equity 25 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$6.45M	USD	Point-in-time
Balance	`StockholdersEquity`	$1.19M	USD	Point-in-time
Balance	`StockholdersEquity`	$1.09M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.38M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.77M	USD	Point-in-time
Balance	`StockholdersEquity`	$4.61M	USD	Point-in-time
Sale of common stock	`StockIssuedDuringPeriodValueNewIssues`	$244.66K	USD	1 Quarter
Sale of common stock	`StockIssuedDuringPeriodValueNewIssues`	$62.78K	USD	1 Quarter
Sale of common stock-offering	`StockIssuedDuringPeriodValueIssuedForServices`	$5.68M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-396.99K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-743.94K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-379.71K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-371.66K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-751.03K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.15M	USD	2 Qtrs
Foreign currency translation gain	`TemporaryEquityForeignCurrencyTranslationAdjustments`	$-18.24K	USD	1 Quarter
Foreign currency translation gain	`TemporaryEquityForeignCurrencyTranslationAdjustments`	$31.57K	USD	1 Quarter
Foreign currency translation gain	`TemporaryEquityForeignCurrencyTranslationAdjustments`	$6.61K	USD	1 Quarter
Foreign currency translation gain	`TemporaryEquityForeignCurrencyTranslationAdjustments`	$-7.45K	USD	1 Quarter
Balance	`StockholdersEquity`	$6.45M	USD	Point-in-time
Balance	`StockholdersEquity`	$1.19M	USD	Point-in-time
Balance	`StockholdersEquity`	$1.09M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.38M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.77M	USD	Point-in-time
Balance	`StockholdersEquity`	$4.61M	USD	Point-in-time

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