10-Q Filing

DATASEA INC. CIK: 1631282 Q2 2016

Filing Information

Form Type	10-Q
Accession Number	`0001520138-16-000736`
Period End Date	20151231
Filing Date	20160216
Fiscal Year	2016
Fiscal Period	Q2
XBRL Instance	dtss-20151231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 40 Income Statement 31 Cash Flow Statement 22 Stockholders Equity 13

Balance Sheet 40 line items

Line Item	Tag	Value	Unit	Period
Common Stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock, par value	`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, shares issued	`CommonStockSharesIssued`	20.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$115.15K	USD	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	55.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.90K	USD	Point-in-time
Due from related party	`DueFromRelatedPartiesCurrent`	$8.43K	USD	Point-in-time
Due from related party	`DueFromRelatedPartiesCurrent`	-	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	20.00M	shares	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	55.00M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssets`	$25.43K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssets`	$21.71K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$31.33K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$145.29K	USD	Point-in-time
Plant, property and equipment, net	`PropertyPlantAndEquipmentNet`	$51.24K	USD	Point-in-time
Plant, property and equipment, net	`PropertyPlantAndEquipmentNet`	$48.19K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	-	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$13.38K	USD	Point-in-time
Total Assets	`Assets`	$82.56K	USD	Point-in-time
Total Assets	`Assets`	$206.86K	USD	Point-in-time
Accrued expenses and other payables	`AccruedLiabilitiesCurrent`	$48.19K	USD	Point-in-time
Accrued expenses and other payables	`AccruedLiabilitiesCurrent`	$30.53K	USD	Point-in-time
Loan payable-shareholder	`LoanPayableshareholder`	$58.92K	USD	Point-in-time
Loan payable-shareholder	`LoanPayableshareholder`	$65.28K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$89.44K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$113.47K	USD	Point-in-time
Common stock	`CommonStockValue`	$20.00K	USD	Point-in-time
Common stock	`CommonStockValue`	$55.00K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$175.88K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$804.93K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-17.00	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-3.92K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-762.63K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-202.74K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$93.39K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$-6.88K	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$206.86K	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$82.56K	USD	Point-in-time

Income Statement 31 line items

Line Item	Tag	Value	Unit	Period
Revenue	`SalesRevenueNet`	-	USD	1 Quarter
Revenue	`SalesRevenueNet`	-	USD	2 Qtrs
General and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$559.92K	USD	2 Qtrs
General and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$397.59K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$559.92K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$397.59K	USD	1 Quarter
Income from operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-559.92K	USD	2 Qtrs
Income from operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-397.59K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Loss from operation	`OperatingIncomeLoss`	$-559.92K	USD	2 Qtrs
Loss from operation	`OperatingIncomeLoss`	$-397.59K	USD	1 Quarter
Interest income	`InterestIncomeOther`	$4.00	USD	1 Quarter
Interest income	`InterestIncomeOther`	$38.00	USD	2 Qtrs
Total other income	`InterestAndOtherIncome`	$4.00	USD	1 Quarter
Total other income	`InterestAndOtherIncome`	$38.00	USD	2 Qtrs
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-559.89K	USD	2 Qtrs
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-397.58K	USD	1 Quarter
Income tax provision	`DiscontinuedOperationProvisionForLossGainOnDisposalBeforeIncomeTax`	-	USD	2 Qtrs
Income tax provision	`DiscontinuedOperationProvisionForLossGainOnDisposalBeforeIncomeTax`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-397.58K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-202.74K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-559.89K	USD	2 Qtrs
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$-17.00	USD	2 Qtrs
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$2.87K	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$3.90K	USD	2 Qtrs
Comprehensive Loss	`OtherComprehensiveIncomeLossTax`	$-400.45K	USD	1 Quarter
Comprehensive Loss	`OtherComprehensiveIncomeLossTax`	$-563.79K	USD	2 Qtrs
Net loss per share Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	2 Qtrs
Net loss per share Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Weighted average shares outstanding Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	44.35M	shares	1 Quarter
Weighted average shares outstanding Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	32.17M	shares	2 Qtrs

Cash Flow Statement 22 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-397.58K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-202.74K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-559.89K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$7.24K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$2.34K	USD	2 Qtrs
Accrued expenses and other payables	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$20.26K	USD	2 Qtrs
Net Cash Used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-530.05K	USD	2 Qtrs
Cash received from merger	`CashAcquiredFromAcquisition`	$12.62K	USD	2 Qtrs
Acquisition of office equipment and intangible assets	`PropertyPlantAndEquipmentAdditions`	$21.13K	USD	2 Qtrs
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-8.52K	USD	2 Qtrs
Payment to related party	`RepaymentsOfRelatedPartyDebt`	$8.80K	USD	2 Qtrs
Loan from shareholder	`LoanFromShareholder`	$10.22K	USD	2 Qtrs
Capital contribution	`ProceedsFromContributedCapital`	$651.43K	USD	2 Qtrs
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$652.85K	USD	2 Qtrs
Effect of Exchange Rate Changes on Cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-5.04K	USD	2 Qtrs
Net Increase in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$109.25K	USD	2 Qtrs
Cash Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$115.15K	USD	Point-in-time
Cash Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$5.90K	USD	Point-in-time
Cash End of Period	`CashAndCashEquivalentsAtCarryingValue`	$115.15K	USD	Point-in-time
Cash End of Period	`CashAndCashEquivalentsAtCarryingValue`	$5.90K	USD	Point-in-time
Income tax payments	`IncomeTaxesPaid`	-	USD	2 Qtrs
Interest expense	`InterestPaid`	-	USD	2 Qtrs

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$93.39K	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$-6.88K	USD	Point-in-time
Common stock issue to founders	`StockIssuedDuringPeriodValueNewIssues`	$195.88K	USD	2 Qtrs
Effect of reverse merger	`StockIssuedDuringPeriodValueAcquisitions`	$12.62K	USD	2 Qtrs
Capital contribution	`ProceedsFromContributedCapital`	$651.43K	USD	2 Qtrs
Net Loss	`NetIncomeLoss`	$-397.58K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-202.74K	USD	2 Qtrs
Net Loss	`NetIncomeLoss`	$-559.89K	USD	2 Qtrs
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$-17.00	USD	2 Qtrs
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$2.87K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$3.90K	USD	2 Qtrs
Ending Balance	`StockholdersEquity`	$93.39K	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$-6.88K	USD	Point-in-time

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