10-Q Filing

DATASEA INC. CIK: 1631282 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001213900-21-058737`
Period End Date	20210930
Filing Date	20211112
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	f10q0921_dataseainc_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 43 Cash Flow Statement 60 Stockholders Equity 15

Balance Sheet 74 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
Cash	`Cash`	$5.81M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	375.00M	shares	Point-in-time
Cash	`Cash`	$49.68K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$711.64K	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	23.92M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$1.86K	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	21.47M	shares	Point-in-time
Inventory	`InventoryNet`	$194.26K	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	23.92M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	21.47M	shares	Point-in-time
Inventory	`InventoryNet`	$204.66K	USD	Point-in-time
Value-added tax prepayment	`ValueaddedTaxPrepayment`	$171.57K	USD	Point-in-time
Value-added tax prepayment	`ValueaddedTaxPrepayment`	$173.77K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$498.54K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$468.62K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$7.39M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$885.99K	USD	Point-in-time
Security deposit for rents	`DepositsAssetsNoncurrent`	$256.99K	USD	Point-in-time
Security deposit for rents	`DepositsAssetsNoncurrent`	$263.22K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$276.19K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$309.41K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$1.09M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$1.09M	USD	Point-in-time
Right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$1.35M	USD	Point-in-time
Right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$1.14M	USD	Point-in-time
Total noncurrent assets	`AssetsNoncurrent`	$3.01M	USD	Point-in-time
Total noncurrent assets	`AssetsNoncurrent`	$2.77M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$3.90M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$10.17M	USD	Point-in-time
Accounts payable	`AccruedLiabilitiesCurrent`	$749.87K	USD	Point-in-time
Accounts payable	`AccruedLiabilitiesCurrent`	$174.72K	USD	Point-in-time
Unearned revenue	`UnearnedPremiums`	$189.53K	USD	Point-in-time
Unearned revenue	`UnearnedPremiums`	$251.99K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$46.44K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$46.26K	USD	Point-in-time
Accrued expenses and other payables	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$561.67K	USD	Point-in-time
Accrued expenses and other payables	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$613.28K	USD	Point-in-time
Due to related party	`DueToRelatedPartiesCurrent`	$69.31K	USD	Point-in-time
Due to related party	`DueToRelatedPartiesCurrent`	$57.41K	USD	Point-in-time
Loans payable	`LoansPayableCurrent`	$984.52K	USD	Point-in-time
Loans payable	`LoansPayableCurrent`	$1.49M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiability`	$730.18K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiability`	$759.11K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.46M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.26M	USD	Point-in-time
Operating lease liabilities	`OperatingLesaeLiabilitiesNonCurrent`	$558.74K	USD	Point-in-time
Operating lease liabilities	`OperatingLesaeLiabilitiesNonCurrent`	$340.70K	USD	Point-in-time
Total noncurrent liabilities	`LiabilitiesNoncurrent`	$558.74K	USD	Point-in-time
Total noncurrent liabilities	`LiabilitiesNoncurrent`	$340.70K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$3.82M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$3.80M	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES	`CommitmentsAndContingencies`	-	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.001 par value, 375,000,000 shares authorized, 23,916,304 and 21,474,138 shares issued and outstanding, respectively	`CommonStockValue`	$23.92K	USD	Point-in-time
Common stock, $0.001 par value, 375,000,000 shares authorized, 23,916,304 and 21,474,138 shares issued and outstanding, respectively	`CommonStockValue`	$21.47K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$12.09M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$19.93M	USD	Point-in-time
Accumulated comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$273.25K	USD	Point-in-time
Accumulated comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$268.55K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-12.06M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-13.50M	USD	Point-in-time
TOTAL COMPANY STOCKHOLDERS' EQUITY	`StockholdersEquity`	$6.72M	USD	Point-in-time
TOTAL COMPANY STOCKHOLDERS' EQUITY	`StockholdersEquity`	$3.88M	USD	Point-in-time
TOTAL COMPANY STOCKHOLDERS' EQUITY	`StockholdersEquity`	$319.65K	USD	Point-in-time
TOTAL COMPANY STOCKHOLDERS' EQUITY	`StockholdersEquity`	$3.07M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$-354.30K	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$-241.94K	USD	Point-in-time
TOTAL EQUITY	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$77.71K	USD	Point-in-time
TOTAL EQUITY	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$6.37M	USD	Point-in-time
TOTAL LIABILITIES AND EQUITY	`LiabilitiesAndStockholdersEquity`	$3.90M	USD	Point-in-time
TOTAL LIABILITIES AND EQUITY	`LiabilitiesAndStockholdersEquity`	$10.17M	USD	Point-in-time

Income Statement 43 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	$671.13K	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	$9.05K	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$16.90K	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$607.53K	USD	1 Quarter
Gross profit (loss)	`GrossProfit`	$63.59K	USD	1 Quarter
Gross profit (loss)	`GrossProfit`	$-7.84K	USD	1 Quarter
Selling	`SellingExpense`	$230.80K	USD	1 Quarter
Selling	`SellingExpense`	$54.06K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.12M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$619.44K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$287.22K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$194.73K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.64M	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`	$-1.57M	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$7.65K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$23.00	USD	1 Quarter
Interest income	`InterestAndDividendIncomeOperating`	$1.60K	USD	1 Quarter
Interest income	`InterestAndDividendIncomeOperating`	$20.53K	USD	1 Quarter
Total non-operating income, net	`NonoperatingIncomeExpense`	$20.56K	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`	$-1.55M	USD	1 Quarter
Income tax	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Loss before noncontrolling interest	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-866.82K	USD	1 Quarter
Loss before noncontrolling interest	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-1.55M	USD	1 Quarter
Less: loss attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-112.10K	USD	1 Quarter
Less: loss attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	-	USD	1 Quarter
Net loss to the Company	`NetIncomeLoss`	$-1.44M	USD	1 Quarter
Net loss to the Company	`NetIncomeLoss`	$-866.82K	USD	1 Quarter
Foreign currency translation gain (loss) attributable to the Company	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$4.70K	USD	1 Quarter
Foreign currency translation gain (loss) attributable to the Company	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$-58.48K	USD	1 Quarter
Foreign currency translation loss attributable to noncontrolling interest	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToNoncontrollingInterest`	$-254.00	USD	1 Quarter
Foreign currency translation loss attributable to noncontrolling interest	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToNoncontrollingInterest`	-	USD	1 Quarter
Comprehensive loss attributable to the Company	`ComprehensiveIncomeNetOfTax`	$-1.45M	USD	1 Quarter
Comprehensive loss attributable to the Company	`ComprehensiveIncomeNetOfTax`	$-808.34K	USD	1 Quarter
Comprehensive loss attributable to noncontrolling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$-112.35K	USD	1 Quarter
Comprehensive loss attributable to noncontrolling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	-	USD	1 Quarter
Basic and diluted net loss per share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.06	USD	1 Quarter
Basic and diluted net loss per share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.04	USD	1 Quarter
Weighted average shares used for computing basic and diluted loss per share (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	20.94M	shares	1 Quarter
Weighted average shares used for computing basic and diluted loss per share (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	23.36M	shares	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Loss including noncontrolling interest	`IncomeLossIncludingPortionAttributableToNoncontrollingInterest`	$-866.82K	USD	1 Quarter
Loss including noncontrolling interest	`IncomeLossIncludingPortionAttributableToNoncontrollingInterest`	$-1.55M	USD	1 Quarter
Loss on disposal on fixed assets	`GainLossOnDispositionOfAssets1`	-	USD	1 Quarter
Loss on disposal on fixed assets	`GainLossOnDispositionOfAssets1`	$-457.00	USD	1 Quarter
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$42.66K	USD	1 Quarter
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$92.02K	USD	1 Quarter
Operating lease expense	`OperatingLeaseExpense`	$150.47K	USD	1 Quarter
Operating lease expense	`OperatingLeaseExpense`	$218.83K	USD	1 Quarter
Stock compensation expense	`DeferredCompensationArrangementWithIndividualCompensationExpense`	$164.25K	USD	1 Quarter
Stock compensation expense	`DeferredCompensationArrangementWithIndividualCompensationExpense`	-	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$913.09K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$5.06K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$16.25K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$11.18K	USD	1 Quarter
Value-added tax prepayment	`IncreaseDecreaseInValueaddedTaxPrepayment`	$35.18K	USD	1 Quarter
Value-added tax prepayment	`IncreaseDecreaseInValueaddedTaxPrepayment`	$2.87K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$84.87K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$88.25K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$608.50K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$12.97K	USD	1 Quarter
Advance from customers	`IncreaseDecreaseInContractWithCustomerLiability`	$63.34K	USD	1 Quarter
Advance from customers	`IncreaseDecreaseInContractWithCustomerLiability`	-	USD	1 Quarter
Accrued expenses and other payables	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$223.92K	USD	1 Quarter
Accrued expenses and other payables	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$128.48K	USD	1 Quarter
Payment on operating lease liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-202.55K	USD	1 Quarter
Payment on operating lease liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-235.93K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-909.53K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.40M	USD	1 Quarter
Acquisition of property and equipment	`PaymentsToAcquireMachineryAndEquipment`	$43.84K	USD	1 Quarter
Acquisition of property and equipment	`PaymentsToAcquireMachineryAndEquipment`	$9.16K	USD	1 Quarter
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$8.30K	USD	1 Quarter
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-9.16K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-52.14K	USD	1 Quarter
Due to related parties	`ProceedFromDueToRelatedParties`	-	USD	1 Quarter
Due to related parties	`ProceedFromDueToRelatedParties`	$-11.71K	USD	1 Quarter
Payment of loan payable	`RepaymentsOfNotesPayable`	$497.62K	USD	1 Quarter
Payment of loan payable	`RepaymentsOfNotesPayable`	-	USD	1 Quarter
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$7.68M	USD	1 Quarter
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$7.17M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$15.77K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-7.65K	USD	1 Quarter
Net increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$5.76M	USD	1 Quarter
Net increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-945.90K	USD	1 Quarter
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$49.68K	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.81M	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$720.04K	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.67M	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$49.68K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.81M	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$720.04K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.67M	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
Transfer of prepaid software development expenditure to intangible assets	`TransferOfPrepaidSoftwareDevelopmentExpenditureToIntangibleAssets`	-	USD	1 Quarter
Transfer of prepaid software development expenditure to intangible assets	`TransferOfPrepaidSoftwareDevelopmentExpenditureToIntangibleAssets`	$50.00K	USD	1 Quarter

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$6.72M	USD	Point-in-time
Balance	`StockholdersEquity`	$3.88M	USD	Point-in-time
Balance	`StockholdersEquity`	$319.65K	USD	Point-in-time
Balance	`StockholdersEquity`	$3.07M	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-1.44M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-866.82K	USD	1 Quarter
Foreign currency translation loss	`TemporaryEquityForeignCurrencyTranslationAdjustments`	$58.48K	USD	1 Quarter
Foreign currency translation loss	`TemporaryEquityForeignCurrencyTranslationAdjustments`	$-4.70K	USD	1 Quarter
Issuance of common stock for equity financing	`StockIssuedDuringPeriodValueNewIssues`	$7.68M	USD	1 Quarter
Issuance of common stock for equity financing (in Shares)	`StockIssuedDuringPeriodSharesNewIssues`	520,000.00	shares	Point-in-time
Shares issued for stock compensation expense	`StockIssuedDuringPeriodValueIssuedForServices`	$164.25K	USD	1 Quarter
Balance	`StockholdersEquity`	$6.72M	USD	Point-in-time
Balance	`StockholdersEquity`	$3.88M	USD	Point-in-time
Balance	`StockholdersEquity`	$319.65K	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.