10-Q Filing

DATASEA INC. CIK: 1631282 Q2 2017

Filing Information

Form Type	10-Q
Accession Number	`0001520138-17-000057`
Period End Date	20161231
Filing Date	20170214
Fiscal Year	2017
Fiscal Period	Q2
XBRL Instance	dtss-20161231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 49 Income Statement 68 Cash Flow Statement 50

Balance Sheet 49 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`	75.00M	shares	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`	$115.15K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$325.14K	USD	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	55.95M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$5.90K	USD	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	55.39M	shares	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	11.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$11.80K	USD	Point-in-time
Inventory	`InventoryNet`	-	USD	Point-in-time
Inventory	`InventoryNet`	$10.46K	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	11.00M	shares	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	55.95M	shares	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	55.39M	shares	Point-in-time
Project in progress	`ProjectsInProgress`	$8.31K	USD	Point-in-time
Project in progress	`ProjectsInProgress`	$229.50K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssets`	$75.21K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssets`	$94.76K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$419.13K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$336.05K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$102.50K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$73.07K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$12.38K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$11.21K	USD	Point-in-time
Total Assets	`Assets`	$503.41K	USD	Point-in-time
Total Assets	`Assets`	$450.93K	USD	Point-in-time
Accounts payable	`AccruedLiabilitiesCurrent`	$197.97K	USD	Point-in-time
Accounts payable	`AccruedLiabilitiesCurrent`	$44.53K	USD	Point-in-time
Accrued expenses and other payables	`AccruedExpensesAndOtherPayables`	$62.89K	USD	Point-in-time
Accrued expenses and other payables	`AccruedExpensesAndOtherPayables`	$75.78K	USD	Point-in-time
Loan payable-shareholder	`LoanPayableshareholder`	$176.62K	USD	Point-in-time
Loan payable-shareholder	`LoanPayableshareholder`	$104.29K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$450.38K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$211.71K	USD	Point-in-time
Common stock, $0.001 par value, 375,000,000 shares authorized, 55,952,271 and 20,000,000 shares issued and outstanding at December 31, 2016 and June 30, 2016, respectively	`CommonStockValue`	$55.39K	USD	Point-in-time
Common stock, $0.001 par value, 375,000,000 shares authorized, 55,952,271 and 20,000,000 shares issued and outstanding at December 31, 2016 and June 30, 2016, respectively	`CommonStockValue`	$55.95K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$1.28M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$2.06M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-5.86K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-15.01K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.81M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.33M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$291.70K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$559.00	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$503.41K	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$450.93K	USD	Point-in-time

Income Statement 68 line items

Line Item	Tag	Value	Unit	Period
Revenue	`SalesRevenueNet`	$132.96K	USD	1 Quarter
Revenue	`SalesRevenueNet`	-	USD	2 Qtrs
Revenue	`SalesRevenueNet`	$132.96K	USD	2 Qtrs
Revenue	`SalesRevenueNet`	-	USD	1 Quarter
Cost of Goods	`CostOfGoodsSold`	-	USD	2 Qtrs
Cost of Goods	`CostOfGoodsSold`	-	USD	1 Quarter
Cost of Goods	`CostOfGoodsSold`	$139.02K	USD	2 Qtrs
Cost of Goods	`CostOfGoodsSold`	$139.02K	USD	1 Quarter
Gross Loss	`GrossProfit`	$-6.05K	USD	2 Qtrs
Gross Loss	`GrossProfit`	-	USD	2 Qtrs
Gross Loss	`GrossProfit`	-	USD	1 Quarter
Gross Loss	`GrossProfit`	$-6.05K	USD	1 Quarter
Selling expenses	`SellingExpense`	$10.37K	USD	1 Quarter
Selling expenses	`SellingExpense`	-	USD	1 Quarter
Selling expenses	`SellingExpense`	-	USD	2 Qtrs
Selling expenses	`SellingExpense`	$55.09K	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$432.72K	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$397.59K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$207.54K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$559.92K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$559.92K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$487.81K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$217.92K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$397.59K	USD	1 Quarter
Loss from operation	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-493.86K	USD	2 Qtrs
Loss from operation	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-559.92K	USD	2 Qtrs
Loss from operation	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-397.59K	USD	1 Quarter
Loss from operation	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-223.97K	USD	1 Quarter
Other expense(income), net	`InterestIncomeExpenseNet`	-	USD	1 Quarter
Other expense(income), net	`InterestIncomeExpenseNet`	$14.25K	USD	2 Qtrs
Other expense(income), net	`InterestIncomeExpenseNet`	$11.23K	USD	1 Quarter
Other expense(income), net	`InterestIncomeExpenseNet`	-	USD	2 Qtrs
Interest income	`InterestIncomeOther`	$171.00	USD	1 Quarter
Interest income	`InterestIncomeOther`	$38.00	USD	2 Qtrs
Interest income	`InterestIncomeOther`	$203.00	USD	2 Qtrs
Interest income	`InterestIncomeOther`	$4.00	USD	1 Quarter
Total other expenses	`OtherNonoperatingIncomeExpense`	$4.00	USD	1 Quarter
Total other expenses	`OtherNonoperatingIncomeExpense`	$14.46K	USD	2 Qtrs
Total other expenses	`OtherNonoperatingIncomeExpense`	$38.00	USD	2 Qtrs
Total other expenses	`OtherNonoperatingIncomeExpense`	$11.40K	USD	1 Quarter
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-479.41K	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
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-212.57K	USD	1 Quarter
Income tax provision	`DiscontinuedOperationProvisionForLossGainOnDisposalBeforeIncomeTax`	-	USD	2 Qtrs
Income tax provision	`DiscontinuedOperationProvisionForLossGainOnDisposalBeforeIncomeTax`	-	USD	1 Quarter
Income tax provision	`DiscontinuedOperationProvisionForLossGainOnDisposalBeforeIncomeTax`	-	USD	2 Qtrs
Income tax provision	`DiscontinuedOperationProvisionForLossGainOnDisposalBeforeIncomeTax`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-479.41K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-397.58K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-212.57K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-559.89K	USD	2 Qtrs
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$48.08K	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$9.15K	USD	2 Qtrs
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$2.87K	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$3.90K	USD	2 Qtrs
Total Comprehensive Loss	`OtherComprehensiveIncomeLossTax`	$260.66K	USD	1 Quarter
Total Comprehensive Loss	`OtherComprehensiveIncomeLossTax`	$400.45K	USD	1 Quarter
Total Comprehensive Loss	`OtherComprehensiveIncomeLossTax`	$488.56K	USD	2 Qtrs
Total Comprehensive Loss	`OtherComprehensiveIncomeLossTax`	$563.79K	USD	2 Qtrs
Net loss per share Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Net loss per share Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	2 Qtrs
Net loss per share Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	2 Qtrs
Net loss per share Basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Weighted average shares outstanding Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	55.62M	shares	2 Qtrs
Weighted average shares outstanding Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	32.17M	shares	2 Qtrs
Weighted average shares outstanding Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	55.81M	shares	1 Quarter
Weighted average shares outstanding Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	44.35M	shares	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-479.41K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-397.58K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-212.57K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-559.89K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$34.98K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$7.24K	USD	2 Qtrs
Project in progress	`IncreaseDecreaseInProjectInProgress`	$206.73K	USD	2 Qtrs
Project in progress	`IncreaseDecreaseInProjectInProgress`	-	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$15.95K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$2.34K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	-	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-149.17K	USD	2 Qtrs
Accrued expenses and other payables	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-10.69K	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
Net Cash Used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-381.61K	USD	2 Qtrs
Cash received from merger	`CashAcquiredFromAcquisition`	$12.62K	USD	2 Qtrs
Cash received from merger	`CashAcquiredFromAcquisition`	-	USD	2 Qtrs
Acquisition of office equipment and intangible assets	`PaymentsToAcquireMachineryAndEquipment`	$8.54K	USD	2 Qtrs
Acquisition of office equipment and intangible assets	`PaymentsToAcquireMachineryAndEquipment`	$21.13K	USD	2 Qtrs
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-8.54K	USD	2 Qtrs
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-8.52K	USD	2 Qtrs
Payment to related party	`RepaymentsOfRelatedPartyDebt`	$66.67K	USD	2 Qtrs
Payment to related party	`RepaymentsOfRelatedPartyDebt`	$8.80K	USD	2 Qtrs
Loan from shareholder	`LoanFromShareholder`	$10.22K	USD	2 Qtrs
Loan from shareholder	`LoanFromShareholder`	-	USD	2 Qtrs
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	2 Qtrs
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$779.70K	USD	2 Qtrs
Capital contribution	`ProceedsFromContributedCapital`	-	USD	2 Qtrs
Capital contribution	`ProceedsFromContributedCapital`	$651.43K	USD	2 Qtrs
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$713.03K	USD	2 Qtrs
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$652.85K	USD	2 Qtrs
Effect of Exchange Rate Changes on Cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-9.54K	USD	2 Qtrs
Effect of Exchange Rate Changes on Cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-5.04K	USD	2 Qtrs
Net Increase (decrease) in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$109.25K	USD	2 Qtrs
Net Increase (decrease) in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$313.34K	USD	2 Qtrs
Cash Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$115.15K	USD	Point-in-time
Cash Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$325.14K	USD	Point-in-time
Cash Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$5.90K	USD	Point-in-time
Cash Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$11.80K	USD	Point-in-time
Cash End of Period	`CashAndCashEquivalentsAtCarryingValue`	$115.15K	USD	Point-in-time
Cash End of Period	`CashAndCashEquivalentsAtCarryingValue`	$325.14K	USD	Point-in-time
Cash End of Period	`CashAndCashEquivalentsAtCarryingValue`	$5.90K	USD	Point-in-time
Cash End of Period	`CashAndCashEquivalentsAtCarryingValue`	$11.80K	USD	Point-in-time
Cash paid for interest	`InterestPaid`	-	USD	2 Qtrs
Cash paid for interest	`InterestPaid`	-	USD	2 Qtrs
Cash paid for income tax	`IncomeTaxesPaid`	-	USD	2 Qtrs
Cash paid for income tax	`IncomeTaxesPaid`	-	USD	2 Qtrs
Reclassification of Project in progress to Inventory	`ReclassificationOfProjectInProgressToInventory`	-	USD	2 Qtrs
Reclassification of Project in progress to Inventory	`ReclassificationOfProjectInProgressToInventory`	$10.46K	USD	2 Qtrs

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