10-Q/A Filing

DATASEA INC. CIK: 1631282 Q2 2020

Filing Information

Form Type	10-Q/A
Accession Number	`0001213900-20-026776`
Period End Date	20191231
Filing Date	20200915
Fiscal Year	2020
Fiscal Period	Q2
XBRL Instance	dtss-20191231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 65 Income Statement 64 Cash Flow Statement 50 Stockholders Equity 23

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, shares authorized	`CommonStockSharesAuthorized`	375.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	375.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$2.80M	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	20.94M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$6.07M	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	20.94M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	20.94M	shares	Point-in-time
Restricted cash	`RestrictedCash`	$600.00K	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	20.94M	shares	Point-in-time
Restricted cash	`RestrictedCash`	-	USD	Point-in-time
Inventory	`InventoryNet`	$73.29K	USD	Point-in-time
Inventory	`InventoryNet`	$74.43K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssets`	$1.10M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssets`	$105.93K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$4.58M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$6.25M	USD	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$41.12K	USD	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$242.46K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$555.81K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$51.50K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseNoncurrent`	$726.40K	USD	Point-in-time
Escrow	`EscrowDeposit`	$600.00K	USD	Point-in-time
Escrow	`EscrowDeposit`	-	USD	Point-in-time
Right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	-	USD	Point-in-time
Right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$1.11M	USD	Point-in-time
Total noncurrent assets	`AssetsNoncurrent`	$2.14M	USD	Point-in-time
Total noncurrent assets	`AssetsNoncurrent`	$1.20M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$6.72M	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
Advances from customers	`ContractWithCustomerLiabilityCurrent`	$1.32M	USD	Point-in-time
Advances from customers	`ContractWithCustomerLiabilityCurrent`	$1.30M	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
Loan payable to shareholder	`LoansPayableCurrent`	-	USD	Point-in-time
Loan payable to shareholder	`LoansPayableCurrent`	$86.73K	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`	-	USD	Point-in-time
Operating lease liabilities	`OperatingLesaeLiabilitiesNonCurrent`	$535.42K	USD	Point-in-time
Total noncurrent assets	`LiabilitiesNoncurrent`	$535.42K	USD	Point-in-time
Total noncurrent assets	`LiabilitiesNoncurrent`	-	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$1.68M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$2.56M	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	`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	`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`	$178.28K	USD	Point-in-time
Accumulated comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$189.91K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-7.15M	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`	$1.19M	USD	Point-in-time
TOTAL STOCKHOLDERS EQUITY	`StockholdersEquity`	$6.45M	USD	Point-in-time
TOTAL STOCKHOLDERS EQUITY	`StockholdersEquity`	$4.16M	USD	Point-in-time
TOTAL STOCKHOLDERS EQUITY	`StockholdersEquity`	$1.09M	USD	Point-in-time
TOTAL STOCKHOLDERS EQUITY	`StockholdersEquity`	$5.18M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$7.45M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$6.72M	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	-	USD	2 Qtrs
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	-	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	-	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	-	USD	2 Qtrs
Cost of goods sold	`CostOfGoodsAndServicesSold`	-	USD	2 Qtrs
Cost of goods sold	`CostOfGoodsAndServicesSold`	$194.00	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$194.00	USD	2 Qtrs
Cost of goods sold	`CostOfGoodsAndServicesSold`	-	USD	1 Quarter
Gross profit	`GrossProfit`	-	USD	2 Qtrs
Gross profit	`GrossProfit`	$-194.00	USD	1 Quarter
Gross profit	`GrossProfit`	$-194.00	USD	2 Qtrs
Gross profit	`GrossProfit`	-	USD	1 Quarter
Selling	`SellingExpense`	$109.32K	USD	2 Qtrs
Selling	`SellingExpense`	$58.15K	USD	1 Quarter
Selling	`SellingExpense`	$148.85K	USD	2 Qtrs
Selling	`SellingExpense`	$71.97K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$502.15K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$638.16K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$275.58K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$945.42K	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$570.37K	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$41.11K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$319.16K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$103.89K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$1.02M	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`	$1.63M	USD	2 Qtrs
Loss from operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-754.89K	USD	2 Qtrs
Loss from operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-388.67K	USD	1 Quarter
Loss from operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.02M	USD	1 Quarter
Loss from operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.63M	USD	2 Qtrs
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$460.00	USD	1 Quarter
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$-3.46K	USD	2 Qtrs
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$-6.42K	USD	2 Qtrs
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$3.09K	USD	1 Quarter
Interest income	`InterestAndDividendIncomeOperating`	$33.69K	USD	2 Qtrs
Interest income	`InterestAndDividendIncomeOperating`	$8.50K	USD	1 Quarter
Interest income	`InterestAndDividendIncomeOperating`	$11.53K	USD	1 Quarter
Interest income	`InterestAndDividendIncomeOperating`	$14.42K	USD	2 Qtrs
Total non-operating income, net	`NonoperatingIncomeExpense`	$8.96K	USD	1 Quarter
Total non-operating income, net	`NonoperatingIncomeExpense`	$10.95K	USD	2 Qtrs
Total non-operating income, net	`NonoperatingIncomeExpense`	$14.62K	USD	1 Quarter
Total non-operating income, net	`NonoperatingIncomeExpense`	$27.28K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.60M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-743.94K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-379.71K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.00M	USD	1 Quarter
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$-24.12K	USD	2 Qtrs
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$11.62K	USD	2 Qtrs
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$7.45K	USD	1 Quarter
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$18.24K	USD	1 Quarter
Total comprehensive loss	`OtherComprehensiveIncomeLossTax`	$1.61M	USD	2 Qtrs
Total comprehensive loss	`OtherComprehensiveIncomeLossTax`	$1.02M	USD	1 Quarter
Total comprehensive loss	`OtherComprehensiveIncomeLossTax`	$387.16K	USD	1 Quarter
Total comprehensive loss	`OtherComprehensiveIncomeLossTax`	$719.81K	USD	2 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.04	USD	2 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.05	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.08	USD	2 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	19.45M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	19.31M	shares	2 Qtrs
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	20.94M	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`	$-1.60M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-743.94K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-379.71K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$19.32K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$13.19K	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$2.12K	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$-278.00	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$1.22M	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$-1.41K	USD	2 Qtrs
Right-of-use assets	`RightofuseAssets`	-	USD	2 Qtrs
Right-of-use assets	`RightofuseAssets`	$1.10M	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
Payment on operating lease liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	-	USD	2 Qtrs
Payment on operating lease liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$1.10M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.97M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-794.85K	USD	2 Qtrs
Acquisition of fixed assets	`PaymentsToAcquireMachineryAndEquipment`	$208.54K	USD	2 Qtrs
Acquisition of fixed assets	`PaymentsToAcquireMachineryAndEquipment`	$15.75K	USD	2 Qtrs
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	-	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`	$-208.54K	USD	2 Qtrs
Payment of loan payable - shareholder, net	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-84.23K	USD	2 Qtrs
Payment of loan payable - shareholder, net	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-17.51K	USD	2 Qtrs
Net proceeds from sale of common stock - offering	`ProceedsFromSaleOfCommonStock`	$4.75M	USD	2 Qtrs
Net proceeds from sale of common stock - offering	`ProceedsFromSaleOfCommonStock`	-	USD	2 Qtrs
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$307.72K	USD	2 Qtrs
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-84.23K	USD	2 Qtrs
Net cash provided by (used in) 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 and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-3.27M	USD	2 Qtrs
Net (decrease) increase in cash and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$4.24M	USD	2 Qtrs
Cash and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.40M	USD	Point-in-time
Cash and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.27M	USD	Point-in-time
Cash and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.03M	USD	Point-in-time
Cash and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.67M	USD	Point-in-time
Cash and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.40M	USD	Point-in-time
Cash and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.27M	USD	Point-in-time
Cash and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.03M	USD	Point-in-time
Cash and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.67M	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
Right-of-use assets obtained in exchange for new operating lease liabilities	`RightofuseAssetsObtainedInExchangeForNewOperatingLeaseLiabilities`	$875.37K	USD	2 Qtrs
Right-of-use assets obtained in exchange for new operating lease liabilities	`RightofuseAssetsObtainedInExchangeForNewOperatingLeaseLiabilities`	-	USD	2 Qtrs

Stockholders Equity 23 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$5.77M	USD	Point-in-time
Balance	`StockholdersEquity`	$1.19M	USD	Point-in-time
Balance	`StockholdersEquity`	$6.45M	USD	Point-in-time
Balance	`StockholdersEquity`	$4.16M	USD	Point-in-time
Balance	`StockholdersEquity`	$1.09M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.18M	USD	Point-in-time
Sale of common stock	`StockIssuedDuringPeriodValueNewIssues`	$62.78K	USD	1 Quarter
Sale of common stock	`StockIssuedDuringPeriodValueNewIssues`	$244.66K	USD	1 Quarter
Sale of common stock-offering	`StockIssuedDuringPeriodValueIssuedForServices`	$5.68M	USD	1 Quarter
Net loss (Restated)	`ProfitLoss`	$-372.28K	USD	1 Quarter
Net loss (Restated)	`ProfitLoss`	$-596.99K	USD	1 Quarter
Net loss (Restated)	`ProfitLoss`	$-371.66K	USD	1 Quarter
Net loss (Restated)	`ProfitLoss`	$-1.00M	USD	1 Quarter
Foreign currency translation gain (loss)	`TemporaryEquityForeignCurrencyTranslationAdjustments`	$31.57K	USD	1 Quarter
Foreign currency translation gain (loss)	`TemporaryEquityForeignCurrencyTranslationAdjustments`	$-7.45K	USD	1 Quarter
Foreign currency translation gain (loss)	`TemporaryEquityForeignCurrencyTranslationAdjustments`	$-18.24K	USD	1 Quarter
Foreign currency translation gain (loss)	`TemporaryEquityForeignCurrencyTranslationAdjustments`	$6.61K	USD	1 Quarter
Balance	`StockholdersEquity`	$5.77M	USD	Point-in-time
Balance	`StockholdersEquity`	$1.19M	USD	Point-in-time
Balance	`StockholdersEquity`	$6.45M	USD	Point-in-time
Balance	`StockholdersEquity`	$4.16M	USD	Point-in-time
Balance	`StockholdersEquity`	$1.09M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.18M	USD	Point-in-time

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