10-K Filing

DATASEA INC. CIK: 1631282 FY 2020

Filing Information

Form Type	10-K
Accession Number	`0001213900-20-028670`
Period End Date	20200630
Filing Date	20200928
Fiscal Year	2020
Fiscal Period	FY
XBRL Instance	dtss-20200630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 69 Income Statement 36 Cash Flow Statement 52 Stockholders Equity 12

Balance Sheet 69 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
Cash	`CashAndCashEquivalentsAtCarryingValue`	$6.07M	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`	$1.07M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.03M	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	20.94M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	20.94M	shares	Point-in-time
Restricted cash	`RestrictedCash`	$600.00K	USD	Point-in-time
Restricted cash	`RestrictedCash`	-	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	20.94M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	20.94M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	-	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$1.12K	USD	Point-in-time
Inventory	`InventoryNet`	$105.21K	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`	$69.78K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssets`	$105.93K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssets`	$2.06M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$6.25M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.90M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$291.03K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$41.12K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$55.81K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$20.69K	USD	Point-in-time
Escrow	`EscrowDeposit`	-	USD	Point-in-time
Escrow	`EscrowDeposit`	$600.00K	USD	Point-in-time
Prepaid expense	`PrepaidExpenseNoncurrent`	-	USD	Point-in-time
Prepaid expense	`PrepaidExpenseNoncurrent`	$500.00K	USD	Point-in-time
Right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	-	USD	Point-in-time
Right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$702.95K	USD	Point-in-time
Total noncurrent assets	`AssetsNoncurrent`	$1.01M	USD	Point-in-time
Total noncurrent assets	`AssetsNoncurrent`	$1.20M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$4.91M	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`	$46.98K	USD	Point-in-time
Advances from customers	`ContractWithCustomerLiabilityCurrent`	$20.95K	USD	Point-in-time
Advances from customers	`ContractWithCustomerLiabilityCurrent`	$1.32M	USD	Point-in-time
Advances from customers	`ContractWithCustomerLiabilityCurrent`	9.06M	CNY	Point-in-time
Accrued expenses and other payables	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$264.68K	USD	Point-in-time
Accrued expenses and other payables	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$274.93K	USD	Point-in-time
Loan payable to stockholder	`LoansPayableCurrent`	-	USD	Point-in-time
Loan payable to stockholder	`LoansPayableCurrent`	$86.73K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiability`	-	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiability`	$346.63K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.68M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$689.49K	USD	Point-in-time
Operating lease liabilities	`OperatingLesaeLiabilitiesNonCurrent`	$341.27K	USD	Point-in-time
Operating lease liabilities	`OperatingLesaeLiabilitiesNonCurrent`	-	USD	Point-in-time
Total noncurrent liabilities	`LiabilitiesNoncurrent`	-	USD	Point-in-time
Total noncurrent liabilities	`LiabilitiesNoncurrent`	$341.27K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$1.68M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$1.03M	USD	Point-in-time
Common stock, $0.001 par value, 375,000,000 shares authorized, 20,943,846 shares issued and outstanding at June 30, 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 June 30, 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`	$170.21K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-7.41M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-5.55M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$1.19M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$5.77M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$3.88M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$7.45M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$4.91M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	$1.41M	USD	Annual
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	-	USD	Annual
Cost of goods sold	`CostOfGoodsAndServicesSold`	-	USD	Annual
Cost of goods sold	`CostOfGoodsAndServicesSold`	$146.38K	USD	Annual
Gross profit	`GrossProfit`	$1.27M	USD	Annual
Gross profit	`GrossProfit`	-	USD	Annual
Selling	`SellingExpense`	$199.49K	USD	Annual
Selling	`SellingExpense`	$438.62K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$1.13M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$1.62M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$168.25K	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$1.11M	USD	Annual
Total operating expenses	`OperatingExpenses`	$3.17M	USD	Annual
Total operating expenses	`OperatingExpenses`	$1.50M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-1.91M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-1.50M	USD	Annual
Other expenses	`OtherNonoperatingIncomeExpense`	$-1.73K	USD	Annual
Other expenses	`OtherNonoperatingIncomeExpense`	$-2.50K	USD	Annual
Interest income	`InterestAndDividendIncomeOperating`	$49.45K	USD	Annual
Interest income	`InterestAndDividendIncomeOperating`	$75.86K	USD	Annual
Total non-operating income, net	`NonoperatingIncomeExpense`	$74.13K	USD	Annual
Total non-operating income, net	`NonoperatingIncomeExpense`	$46.96K	USD	Annual
Loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.86M	USD	Annual
Loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.43M	USD	Annual
Income tax	`IncomeTaxExpenseBenefit`	-	USD	Annual
Income tax	`IncomeTaxExpenseBenefit`	$5.16K	USD	Annual
Net loss	`NetIncomeLoss`	$-1.43M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.86M	USD	Annual
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$-19.11K	USD	Annual
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$19.70K	USD	Annual
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-1.88M	USD	Annual
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-1.41M	USD	Annual
Basic and diluted (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.07	USD	Annual
Basic and diluted (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.09	USD	Annual
Basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	20.12M	shares	Annual
Basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	20.94M	shares	Annual

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.43M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.86M	USD	Annual
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$36.31K	USD	Annual
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$110.32K	USD	Annual
Inventory impairment	`InventoryImpairment`	$44.24K	USD	Annual
Operating lease expense	`OperatingLeaseExpense`	$204.86K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$-279.00	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$78.64K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.13K	USD	Annual
Value-added tax prepayment	`IncreaseDecreaseInValueaddedTaxPrepayment`	$70.37K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$1.46M	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$481.88K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$34.57K	USD	Annual
Advance from customers	`IncreaseDecreaseInContractWithCustomerLiability`	$1.32M	USD	Annual
Advance from customers	`IncreaseDecreaseInContractWithCustomerLiability`	$-1.27M	USD	Annual
Accrued expenses and other payables	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$122.64K	USD	Annual
Accrued expenses and other payables	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$24.77K	USD	Annual
Payment on operating lease liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-249.56K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.57M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-424.05K	USD	Annual
Acquisition of property and equipment	`PaymentsToAcquireMachineryAndEquipment`	$295.47K	USD	Annual
Acquisition of property and equipment	`PaymentsToAcquireMachineryAndEquipment`	$18.92K	USD	Annual
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$11.35K	USD	Annual
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$47.47K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-306.81K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-66.39K	USD	Annual
Proceeds (repayment) of loan payable - stockholder	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-84.84K	USD	Annual
Proceeds (repayment) of loan payable - stockholder	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$60.87K	USD	Annual
Net proceeds from sale of common stock - public offering	`ProceedsFromSaleOfCommonStock`	$4.84M	USD	Annual
Release from escrow account	`ProceedsFromLinesOfCredit`	$400.00K	USD	Annual
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$307.45K	USD	Annual
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$5.70M	USD	Point-in-time
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$5.61M	USD	Annual
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-84.84K	USD	Annual
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-77.62K	USD	Annual
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-41.69K	USD	Annual
Net (decrease) increase in cash and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-5.01M	USD	Annual
Net (decrease) increase in cash and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$5.04M	USD	Annual
Cash and restricted cash, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$6.07M	USD	Point-in-time
Cash and restricted cash, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$1.07M	USD	Point-in-time
Cash and restricted cash, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$1.03M	USD	Point-in-time
Cash and restricted cash, end of year	`CashAndCashEquivalentsAtCarryingValue`	$6.07M	USD	Point-in-time
Cash and restricted cash, end of year	`CashAndCashEquivalentsAtCarryingValue`	$1.07M	USD	Point-in-time
Cash and restricted cash, end of year	`CashAndCashEquivalentsAtCarryingValue`	$1.03M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	-	USD	Annual
Cash paid for interest	`InterestPaidNet`	-	USD	Annual
Cash paid for income tax	`IncomeTaxesPaid`	$5.16K	USD	Annual
Cash paid for income tax	`IncomeTaxesPaid`	-	USD	Annual
Proceeds from public offering held in escrow	`ProceedsFromPublicOfferingHeldInEscrow`	$600.00K	USD	Annual
Proceeds from public offering held in escrow	`ProceedsFromPublicOfferingHeldInEscrow`	-	USD	Annual
Right-of-use assets obtained in exchange for new operating lease liabilities	`RightofuseAssetsObtainedInExchangeForNewOperatingLeaseLiabilities`	$872.80K	USD	Annual
Right-of-use assets obtained in exchange for new operating lease liabilities	`RightofuseAssetsObtainedInExchangeForNewOperatingLeaseLiabilities`	-	USD	Annual

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$1.19M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.77M	USD	Point-in-time
Balance	`StockholdersEquity`	$3.88M	USD	Point-in-time
Sale of common stock	`StockIssuedDuringPeriodValueNewIssues`	$307.45K	USD	Annual
Net proceeds from public offering	`StockIssuedDuringPeriodValueIssuedForServices`	$5.68M	USD	Annual
Net loss	`ProfitLoss`	$-1.43M	USD	Annual
Net loss	`ProfitLoss`	$-1.86M	USD	Annual
Foreign currency translation gain (loss)	`TemporaryEquityForeignCurrencyTranslationAdjustments`	$-19.70K	USD	Annual
Foreign currency translation gain (loss)	`TemporaryEquityForeignCurrencyTranslationAdjustments`	$19.11K	USD	Annual
Balance	`StockholdersEquity`	$1.19M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.77M	USD	Point-in-time
Balance	`StockholdersEquity`	$3.88M	USD	Point-in-time

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