10-Q Filing

DATASEA INC. CIK: 1631282 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001213900-20-036910`
Period End Date	20200930
Filing Date	20201113
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	dtss-20200930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 61 Income Statement 35 Cash Flow Statement 46 Stockholders Equity 12

Balance Sheet 61 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	`Cash`	$720.04K	USD	Point-in-time
Cash	`Cash`	$1.07M	USD	Point-in-time
Restricted cash	`RestrictedCash`	$600.00K	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	20.94M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	20.94M	shares	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`	$6.30K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$1.12K	USD	Point-in-time
Inventory	`InventoryNet`	$105.21K	USD	Point-in-time
Inventory	`InventoryNet`	$125.89K	USD	Point-in-time
Value-added tax prepayment	`ValueaddedTaxPrepayment`	$69.78K	USD	Point-in-time
Value-added tax prepayment	`ValueaddedTaxPrepayment`	$108.28K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.06M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.93M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.89M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.90M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$310.28K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$291.03K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$20.69K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$273.40K	USD	Point-in-time
Right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$702.95K	USD	Point-in-time
Right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$1.87M	USD	Point-in-time
Total noncurrent assets	`AssetsNoncurrent`	$2.45M	USD	Point-in-time
Total noncurrent assets	`AssetsNoncurrent`	$1.01M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$4.91M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$5.34M	USD	Point-in-time
Accounts payable	`AccruedLiabilitiesCurrent`	$46.98K	USD	Point-in-time
Accounts payable	`AccruedLiabilitiesCurrent`	$62.01K	USD	Point-in-time
Advances from customers	`ContractWithCustomerLiabilityCurrent`	$20.95K	USD	Point-in-time
Advances from customers	`ContractWithCustomerLiabilityCurrent`	$18.77K	USD	Point-in-time
Accrued expenses and other payables	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$420.54K	USD	Point-in-time
Accrued expenses and other payables	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$274.93K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiability`	$346.63K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiability`	$801.72K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$689.49K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.30M	USD	Point-in-time
Operating lease liabilities	`OperatingLesaeLiabilitiesNonCurrent`	$341.27K	USD	Point-in-time
Operating lease liabilities	`OperatingLesaeLiabilitiesNonCurrent`	$960.66K	USD	Point-in-time
Total noncurrent liabilities	`LiabilitiesNoncurrent`	$960.66K	USD	Point-in-time
Total noncurrent liabilities	`LiabilitiesNoncurrent`	$341.27K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$1.03M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$2.26M	USD	Point-in-time
Common stock, $0.001 par value, 375,000,000 shares authorized, 20,943,846 shares issued and outstanding	`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	`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`	$170.21K	USD	Point-in-time
Accumulated comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$228.69K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-7.41M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-8.28M	USD	Point-in-time
TOTAL STOCKHOLDERS EQUITY	`StockholdersEquity`	$3.88M	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`	$3.07M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$4.91M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$5.34M	USD	Point-in-time

Income Statement 35 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	$9.05K	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	-	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	-	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$16.90K	USD	1 Quarter
Gross loss	`GrossProfit`	-	USD	1 Quarter
Gross loss	`GrossProfit`	$-7.84K	USD	1 Quarter
Selling	`SellingExpense`	$54.06K	USD	1 Quarter
Selling	`SellingExpense`	$51.17K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$619.44K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$307.26K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$251.21K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$194.73K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$609.64K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$868.23K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-876.07K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-609.64K	USD	1 Quarter
Other income (expenses)	`OtherNonoperatingIncomeExpense`	$7.65K	USD	1 Quarter
Other income (expenses)	`OtherNonoperatingIncomeExpense`	$-9.50K	USD	1 Quarter
Interest income	`InterestAndDividendIncomeOperating`	$1.60K	USD	1 Quarter
Interest income	`InterestAndDividendIncomeOperating`	$22.16K	USD	1 Quarter
Total non-operating income, net	`NonoperatingIncomeExpense`	$12.66K	USD	1 Quarter
Total non-operating income, net	`NonoperatingIncomeExpense`	$9.25K	USD	1 Quarter
Loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-866.82K	USD	1 Quarter
Loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-596.99K	USD	1 Quarter
Income tax	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-596.99K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-866.82K	USD	1 Quarter
Foreign currency translation gain	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$-58.48K	USD	1 Quarter
Foreign currency translation gain	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$-6.61K	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-590.37K	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-808.34K	USD	1 Quarter
Basic and diluted (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.04	USD	1 Quarter
Basic and diluted (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	1 Quarter
Basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	20.94M	shares	1 Quarter
Basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	20.93M	shares	1 Quarter

Cash Flow Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-596.99K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-866.82K	USD	1 Quarter
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$42.66K	USD	1 Quarter
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$6.97K	USD	1 Quarter
Operating lease expense	`OperatingLeaseImpairmentLoss`	$150.47K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$16.25K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$5.06K	USD	1 Quarter
Value-added tax prepayment	`IncreaseDecreaseInValueaddedTaxPrepayment`	$35.18K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$84.87K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$1.58M	USD	1 Quarter
Right-of-use assets	`IncreaseDecreaseInRightOfUseAssets`	$1.22M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$12.97K	USD	1 Quarter
Accrued expenses and other payables	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$128.48K	USD	1 Quarter
Accrued expenses and other payables	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$-176.00K	USD	1 Quarter
Payment on operating lease liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-235.93K	USD	1 Quarter
Payment on operating lease liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$1.22M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.34M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-909.53K	USD	1 Quarter
Acquisition of property and equipment	`PaymentsToAcquireMachineryAndEquipment`	$43.84K	USD	1 Quarter
Acquisition of property and equipment	`PaymentsToAcquireMachineryAndEquipment`	$1.41K	USD	1 Quarter
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$288.57K	USD	1 Quarter
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$8.30K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-289.98K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-52.14K	USD	1 Quarter
Repayment of loan payable - stockholder	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-84.86K	USD	1 Quarter
Repayment of loan payable - stockholder	`ProceedsFromRepaymentsOfRelatedPartyDebt`	-	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-84.86K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-35.26K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$15.77K	USD	1 Quarter
Net decrease in cash and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-2.75M	USD	1 Quarter
Net decrease in cash and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-945.90K	USD	1 Quarter
Cash and restricted cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.67M	USD	Point-in-time
Cash and restricted cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.67M	USD	Point-in-time
Cash and restricted cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$720.04K	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`	$6.67M	USD	Point-in-time
Cash and restricted cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.67M	USD	Point-in-time
Cash and restricted cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$720.04K	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
Right-of-use assets obtained in exchange for new operating lease liabilities	`RightofuseAssetsObtainedInExchangeForNewOperatingLeaseLiabilities`	-	USD	1 Quarter
Right-of-use assets obtained in exchange for new operating lease liabilities	`RightofuseAssetsObtainedInExchangeForNewOperatingLeaseLiabilities`	$1.26M	USD	1 Quarter

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$3.88M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.77M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.18M	USD	Point-in-time
Balance	`StockholdersEquity`	$3.07M	USD	Point-in-time
Net loss	`ProfitLoss`	$-866.82K	USD	1 Quarter
Net loss	`ProfitLoss`	$-596.99K	USD	1 Quarter
Foreign currency translation gain	`TemporaryEquityForeignCurrencyTranslationAdjustments`	$58.48K	USD	1 Quarter
Foreign currency translation gain	`TemporaryEquityForeignCurrencyTranslationAdjustments`	$6.61K	USD	1 Quarter
Balance	`StockholdersEquity`	$3.88M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.77M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.18M	USD	Point-in-time
Balance	`StockholdersEquity`	$3.07M	USD	Point-in-time

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