10-Q/A Filing

DATASEA INC. CIK: 1631282 Q1 2019

Filing Information

Form Type	10-Q/A
Accession Number	`0001213900-20-026772`
Period End Date	20190930
Filing Date	20200915
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	dtss-20190930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 32 Cash Flow Statement 43 Stockholders Equity 13

Balance Sheet 64 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
Cash	`Cash`	$3.32M	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	20.94M	shares	Point-in-time
Cash	`Cash`	$6.07M	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
Inventory	`InventoryNet`	$70.41K	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	20.94M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssets`	$752.23K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssets`	$105.93K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$4.14M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$6.25M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$35.76K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$41.12K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$555.81K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$335.23K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseNoncurrent`	$1.42M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseNoncurrent`	-	USD	Point-in-time
Restricted cash / escrow	`RestrictedCashAndEscrow`	$600.00K	USD	Point-in-time
Restricted cash / escrow	`RestrictedCashAndEscrow`	$600.00K	USD	Point-in-time
Right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	-	USD	Point-in-time
Right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$1.20M	USD	Point-in-time
Total noncurrent assets	`AssetsNoncurrent`	$1.20M	USD	Point-in-time
Total noncurrent assets	`AssetsNoncurrent`	$3.59M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$7.45M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$7.73M	USD	Point-in-time
Accounts payable	`AccruedLiabilitiesCurrent`	$12.57K	USD	Point-in-time
Accounts payable	`AccruedLiabilitiesCurrent`	$13.09K	USD	Point-in-time
Advances from customers	`ContractWithCustomerLiabilityCurrent`	$1.27M	USD	Point-in-time
Advances from customers	`ContractWithCustomerLiabilityCurrent`	$1.32M	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
Taxes payable	`TaxesPayableCurrent`	-	USD	Point-in-time
Taxes payable	`TaxesPayableCurrent`	-	USD	Point-in-time
Loan payable to shareholder	`LoansPayableCurrent`	-	USD	Point-in-time
Loan payable to 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 noncurrent assets	`LiabilitiesNoncurrent`	-	USD	Point-in-time
Total noncurrent assets	`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
Common stock, $0.001 par value, 375,000,000 shares authorized, 20,943,846 shares issued and outstanding at September 30, 2019 and June 30, 2019	`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, 2019 and June 30, 2019	`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
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-6.15M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-5.55M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$5.77M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$5.18M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$1.09M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$1.19M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$7.45M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$7.73M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	-	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	-	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	-	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$7.43K	USD	1 Quarter
Gross profit	`GrossProfit`	-	USD	1 Quarter
Gross profit	`GrossProfit`	$-7.43K	USD	1 Quarter
Selling	`SellingExpense`	$76.88K	USD	1 Quarter
Selling	`SellingExpense`	$51.17K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$226.57K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$307.26K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$62.77K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$251.21K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$609.64K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$366.22K	USD	1 Quarter
Loss from operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-609.64K	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 non-operating income, net	`NonoperatingIncomeExpense`	$2.00K	USD	1 Quarter
Total non-operating income, net	`NonoperatingIncomeExpense`	$12.66K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-596.99K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-371.66K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$-31.57K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$-6.61K	USD	1 Quarter
Total comprehensive loss	`OtherComprehensiveIncomeLossTax`	$340.09K	USD	1 Quarter
Total comprehensive loss	`OtherComprehensiveIncomeLossTax`	$590.37K	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.03	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 43 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-596.99K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-371.66K	USD	1 Quarter
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$6.97K	USD	1 Quarter
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$12.16K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$1.58M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$-5.56K	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`	$-81.45K	USD	1 Quarter
Accrued expenses and other payables	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-176.00K	USD	1 Quarter
Payment on operating lease liabilities	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$1.22M	USD	1 Quarter
Payment on operating lease liabilities	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	-	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.34M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-435.39K	USD	1 Quarter
Acquisition of fixed assets	`PaymentsToAcquireMachineryAndEquipment`	$1.41K	USD	1 Quarter
Acquisition of fixed assets	`PaymentsToAcquireMachineryAndEquipment`	$4.88K	USD	1 Quarter
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$14.70K	USD	1 Quarter
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$288.57K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-19.58K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-289.98K	USD	1 Quarter
Payment of loan payable - shareholder, net	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-84.86K	USD	1 Quarter
Payment of loan payable - shareholder, net	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-26.47K	USD	1 Quarter
Net proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Net proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$5.70M	USD	Point-in-time
Net proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$246.94K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-84.86K	USD	1 Quarter
Net cash provided by (used in) 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 (decrease) in cash and restricted cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-199.41K	USD	1 Quarter
Net (decrease) in cash and restricted cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.75M	USD	1 Quarter
Cash and restricted cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$832.08K	USD	Point-in-time
Cash and restricted cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.03M	USD	Point-in-time
Cash and restricted cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.67M	USD	Point-in-time
Cash and restricted cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.92M	USD	Point-in-time
Cash and restricted cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$832.08K	USD	Point-in-time
Cash and restricted cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.03M	USD	Point-in-time
Cash and restricted cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$6.67M	USD	Point-in-time
Cash and restricted cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.92M	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 13 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$5.77M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.18M	USD	Point-in-time
Balance	`StockholdersEquity`	$1.09M	USD	Point-in-time
Balance	`StockholdersEquity`	$1.19M	USD	Point-in-time
Sale of common stock	`StockIssuedDuringPeriodValueNewIssues`	$244.66K	USD	1 Quarter
Net loss (Restated)	`NetIncomeLoss`	$-596.99K	USD	1 Quarter
Net loss (Restated)	`NetIncomeLoss`	$-371.66K	USD	1 Quarter
Foreign currency translation gain	`TemporaryEquityForeignCurrencyTranslationAdjustments`	$6.61K	USD	1 Quarter
Foreign currency translation gain	`TemporaryEquityForeignCurrencyTranslationAdjustments`	$31.57K	USD	1 Quarter
Balance	`StockholdersEquity`	$5.77M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.18M	USD	Point-in-time
Balance	`StockholdersEquity`	$1.09M	USD	Point-in-time
Balance	`StockholdersEquity`	$1.19M	USD	Point-in-time

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