10-Q/A Filing

DATASEA INC. CIK: 1631282 Q3 2020

Filing Information

Form Type	10-Q/A
Accession Number	`0001213900-20-026779`
Period End Date	20200331
Filing Date	20200915
Fiscal Year	2020
Fiscal Period	Q3
XBRL Instance	dtss-20200331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 63 Cash Flow Statement 55 Stockholders Equity 31

Balance Sheet 70 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
Common stock, issued	`CommonStockSharesIssued`	20.94M	shares	Point-in-time
Cash	`Cash`	$6.07M	USD	Point-in-time
Cash	`Cash`	$2.01M	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	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
Common stock, outstanding	`CommonStockSharesOutstanding`	20.94M	shares	Point-in-time
Restricted cash	`RestrictedCash`	-	USD	Point-in-time
Inventory	`InventoryNet`	$272.75K	USD	Point-in-time
Inventory	`InventoryNet`	$73.29K	USD	Point-in-time
Value-added tax prepayment	`ValueaddedTaxPrepayment`	-	USD	Point-in-time
Value-added tax prepayment	`ValueaddedTaxPrepayment`	$70.53K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssets`	$105.93K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssets`	$1.22M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$6.25M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$4.18M	USD	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$41.12K	USD	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$252.31K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$555.81K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$48.88K	USD	Point-in-time
Prepaid expense	`PrepaidExpenseNoncurrent`	-	USD	Point-in-time
Prepaid expense	`PrepaidExpenseNoncurrent`	$600.00K	USD	Point-in-time
Escrow	`EscrowDeposit`	$600.00K	USD	Point-in-time
Escrow	`EscrowDeposit`	-	USD	Point-in-time
Right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$758.16K	USD	Point-in-time
Right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	-	USD	Point-in-time
Total noncurrent assets	`AssetsNoncurrent`	$1.66M	USD	Point-in-time
Total noncurrent assets	`AssetsNoncurrent`	$1.20M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$7.45M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$5.84M	USD	Point-in-time
Accounts payable	`AccruedLiabilitiesCurrent`	$46.77K	USD	Point-in-time
Accounts payable	`AccruedLiabilitiesCurrent`	$13.09K	USD	Point-in-time
Advances from customers	`ContractWithCustomerLiabilityCurrent`	$1.32M	USD	Point-in-time
Advances from customers	`ContractWithCustomerLiabilityCurrent`	$1.36M	USD	Point-in-time
Accrued expenses and other payables	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$178.78K	USD	Point-in-time
Accrued expenses and other payables	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$264.68K	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`	-	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiability`	$348.40K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.94M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.68M	USD	Point-in-time
Operating lease liabilities	`OperatingLesaeLiabilitiesNonCurrent`	$421.56K	USD	Point-in-time
Operating lease liabilities	`OperatingLesaeLiabilitiesNonCurrent`	-	USD	Point-in-time
Total noncurrent assets	`LiabilitiesNoncurrent`	$421.56K	USD	Point-in-time
Total noncurrent assets	`LiabilitiesNoncurrent`	-	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$1.68M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$2.36M	USD	Point-in-time
Common stock, $0.001 par value, 375,000,000 shares authorized, 20,943,846 shares issued and outstanding at March 31, 2020 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 March 31, 2020 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`	$179.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-7.83M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-5.55M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$6.45M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$5.77M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$4.16M	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 STOCKHOLDERS' EQUITY	`StockholdersEquity`	$3.48M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$6.11M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$5.84M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$7.45M	USD	Point-in-time

Income Statement 63 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	-	USD	3 Qtrs
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	-	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	-	USD	3 Qtrs
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	-	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	-	USD	3 Qtrs
Cost of goods sold	`CostOfGoodsAndServicesSold`	-	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	-	USD	1 Quarter
Gross profit	`GrossProfit`	-	USD	3 Qtrs
Gross profit	`GrossProfit`	-	USD	1 Quarter
Gross profit	`GrossProfit`	-	USD	1 Quarter
Gross profit	`GrossProfit`	-	USD	3 Qtrs
Selling	`SellingExpense`	$142.60K	USD	3 Qtrs
Selling	`SellingExpense`	$34.39K	USD	1 Quarter
Selling	`SellingExpense`	$183.24K	USD	3 Qtrs
Selling	`SellingExpense`	$33.28K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.37M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$510.98K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$428.23K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.01M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$799.51K	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$229.15K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$29.22K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$133.10K	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$690.66K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.33M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$2.32M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$574.59K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-2.32M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-1.33M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-690.66K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-574.59K	USD	1 Quarter
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$-2.57K	USD	3 Qtrs
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$-3.63K	USD	3 Qtrs
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$894.00	USD	1 Quarter
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$2.78K	USD	1 Quarter
Interest income	`InterestAndDividendIncomeOperating`	$32.70K	USD	1 Quarter
Interest income	`InterestAndDividendIncomeOperating`	$10.13K	USD	1 Quarter
Interest income	`InterestAndDividendIncomeOperating`	$43.83K	USD	3 Qtrs
Interest income	`InterestAndDividendIncomeOperating`	$47.11K	USD	3 Qtrs
Total non-operating income, net	`NonoperatingIncomeExpense`	$44.54K	USD	3 Qtrs
Total non-operating income, net	`NonoperatingIncomeExpense`	$40.20K	USD	3 Qtrs
Total non-operating income, net	`NonoperatingIncomeExpense`	$12.92K	USD	1 Quarter
Total non-operating income, net	`NonoperatingIncomeExpense`	$33.59K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-677.74K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-541.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.28M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-1.28M	USD	3 Qtrs
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$10.91K	USD	3 Qtrs
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$-222.33K	USD	3 Qtrs
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$-719.00	USD	1 Quarter
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$-198.21K	USD	1 Quarter
Total comprehensive loss	`OtherComprehensiveIncomeLossTax`	$677.02K	USD	1 Quarter
Total comprehensive loss	`OtherComprehensiveIncomeLossTax`	$342.79K	USD	1 Quarter
Total comprehensive loss	`OtherComprehensiveIncomeLossTax`	$2.29M	USD	3 Qtrs
Total comprehensive loss	`OtherComprehensiveIncomeLossTax`	$1.06M	USD	3 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.06	USD	3 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.11	USD	3 Qtrs
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	20.94M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	20.94M	shares	3 Qtrs
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	20.94M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	19.85M	shares	3 Qtrs

Cash Flow Statement 55 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-677.74K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-541.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.28M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-1.28M	USD	3 Qtrs
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$28.29K	USD	3 Qtrs
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$38.54K	USD	3 Qtrs
Operating lease expense	`OperatingLeaseExpense`	$113.21K	USD	3 Qtrs
Operating lease expense	`OperatingLeaseExpense`	-	USD	3 Qtrs
Operating lease expense	`OperatingLeaseExpense`	$31.73K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$204.19K	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$-279.00	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$1.22M	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$-12.10K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	-	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$34.50K	USD	3 Qtrs
Advance from customers	`IncreaseDecreaseInContractWithCustomerLiability`	$83.89K	USD	3 Qtrs
Advance from customers	`IncreaseDecreaseInContractWithCustomerLiability`	-	USD	3 Qtrs
Accrued expenses and other payables	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$-44.79K	USD	3 Qtrs
Accrued expenses and other payables	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$-13.34K	USD	3 Qtrs
Taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	-	USD	3 Qtrs
Taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-105.10K	USD	3 Qtrs
Payment on operating lease liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	-	USD	3 Qtrs
Payment on operating lease liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-132.95K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.29M	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.69M	USD	3 Qtrs
Acquisition of fixed assets	`AcquisitionOfFixedAssets`	$64.53K	USD	3 Qtrs
Acquisition of fixed assets	`AcquisitionOfFixedAssets`	$248.33K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-64.53K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-248.33K	USD	3 Qtrs
Payment of loan payable - shareholder, net	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-15.39K	USD	3 Qtrs
Payment of loan payable - shareholder, net	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-85.09K	USD	3 Qtrs
Net proceeds from sale of common stock - offering	`ProceedsFromSaleOfCommonStock`	-	USD	3 Qtrs
Net proceeds from sale of common stock - offering	`ProceedsFromSaleOfCommonStock`	$5.24M	USD	3 Qtrs
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$308.86K	USD	3 Qtrs
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	3 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$5.53M	USD	3 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-85.09K	USD	3 Qtrs
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$129.72K	USD	3 Qtrs
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-43.19K	USD	3 Qtrs
Net (decrease) increase in cash and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$4.31M	USD	3 Qtrs
Net (decrease) increase in cash and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-4.06M	USD	3 Qtrs
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`	$5.34M	USD	Point-in-time
Cash and restricted cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.61M	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`	$5.34M	USD	Point-in-time
Cash and restricted cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.61M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	-	USD	3 Qtrs
Cash paid for interest	`InterestPaidNet`	-	USD	3 Qtrs
Cash paid for income tax	`IncomeTaxesPaid`	-	USD	3 Qtrs
Cash paid for income tax	`IncomeTaxesPaid`	-	USD	3 Qtrs
Right-of-use assets obtained in exchange for new operating lease liabilities	`RightofuseAssetsObtainedInExchangeForNewOperatingLeaseLiabilities`	-	USD	3 Qtrs
Right-of-use assets obtained in exchange for new operating lease liabilities	`RightofuseAssetsObtainedInExchangeForNewOperatingLeaseLiabilities`	$875.37K	USD	3 Qtrs

Stockholders Equity 31 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$6.45M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.77M	USD	Point-in-time
Balance	`StockholdersEquity`	$4.16M	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
Balance	`StockholdersEquity`	$3.48M	USD	Point-in-time
Balance	`StockholdersEquity`	$6.11M	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	`ProfitLoss`	$-1.00M	USD	1 Quarter
Net loss	`ProfitLoss`	$-371.66K	USD	1 Quarter
Net loss	`ProfitLoss`	$-372.28K	USD	1 Quarter
Net loss	`ProfitLoss`	$-596.99K	USD	1 Quarter
Net loss	`ProfitLoss`	$-677.74K	USD	1 Quarter
Net loss	`ProfitLoss`	$-541.00K	USD	1 Quarter
Foreign currency translation gain	`TemporaryEquityForeignCurrencyTranslationAdjustments`	$6.61K	USD	1 Quarter
Foreign currency translation gain	`TemporaryEquityForeignCurrencyTranslationAdjustments`	$31.57K	USD	1 Quarter
Foreign currency translation gain	`TemporaryEquityForeignCurrencyTranslationAdjustments`	$-7.45K	USD	1 Quarter
Foreign currency translation gain	`TemporaryEquityForeignCurrencyTranslationAdjustments`	$-18.24K	USD	1 Quarter
Foreign currency translation gain	`TemporaryEquityForeignCurrencyTranslationAdjustments`	$198.21K	USD	1 Quarter
Foreign currency translation gain	`TemporaryEquityForeignCurrencyTranslationAdjustments`	$719.00	USD	1 Quarter
Balance	`StockholdersEquity`	$6.45M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.77M	USD	Point-in-time
Balance	`StockholdersEquity`	$4.16M	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
Balance	`StockholdersEquity`	$3.48M	USD	Point-in-time
Balance	`StockholdersEquity`	$6.11M	USD	Point-in-time

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