10-K Filing

DATASEA INC. CIK: 1631282 FY 2017

Filing Information

Form Type	10-K
Accession Number	`0001520138-17-000323`
Period End Date	20170630
Filing Date	20171013
Fiscal Year	2017
Fiscal Period	FY
XBRL Instance	dtss-20170630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 50 Income Statement 30 Cash Flow Statement 48 Stockholders Equity 19

Balance Sheet 50 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
Cash	`CashAndCashEquivalentsAtCarryingValue`	$5.90K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$11.80K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.17M	USD	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	55.39M	shares	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	56.61M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$221.00	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	55.39M	shares	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	56.61M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	-	USD	Point-in-time
Inventory	`InventoryNet`	$101.30K	USD	Point-in-time
Inventory	`InventoryNet`	-	USD	Point-in-time
Project in progress	`ProjectsInProgress`	$229.50K	USD	Point-in-time
Project in progress	`ProjectsInProgress`	-	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssets`	$94.76K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssets`	$94.44K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.37M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$336.05K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$59.29K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$102.50K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$12.38K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$13.78K	USD	Point-in-time
Total Assets	`Assets`	$1.44M	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`	$13.26K	USD	Point-in-time
Accrued expenses and other payables	`AccruedExpensesAndOtherPayables`	$66.97K	USD	Point-in-time
Accrued expenses and other payables	`AccruedExpensesAndOtherPayables`	$75.78K	USD	Point-in-time
Advances for sale of common stock	`AdvancesForSaleOfCommonStock`	$675.24K	USD	Point-in-time
Advances for sale of common stock	`AdvancesForSaleOfCommonStock`	-	USD	Point-in-time
Loan payable-shareholder	`LoanPayableshareholder`	$176.62K	USD	Point-in-time
Loan payable-shareholder	`LoanPayableshareholder`	$129.87K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$450.38K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$885.35K	USD	Point-in-time
Common stock, $0.001 par value, 375,000,000 shares authorized, 56,610,271 and 55,387,271 shares issued and outstanding at June 30, 2017 and 2016, respectively	`CommonStockValue`	$55.39K	USD	Point-in-time
Common stock, $0.001 par value, 375,000,000 shares authorized, 56,610,271 and 55,387,271 shares issued and outstanding at June 30, 2017 and 2016, respectively	`CommonStockValue`	$56.61K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$1.28M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$2.97M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-5.86K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$57.69K	USD	Point-in-time
Deficit	`RetainedEarningsAccumulatedDeficit`	$-2.52M	USD	Point-in-time
Deficit	`RetainedEarningsAccumulatedDeficit`	$-1.33M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$559.00	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$558.63K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$-6.88K	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$1.44M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$450.93K	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Revenue	`SalesRevenueNet`	$140.77K	USD	Annual
Revenue	`SalesRevenueNet`	-	USD	Annual
Cost of Goods	`CostOfGoodsSold`	-	USD	Annual
Cost of Goods	`CostOfGoodsSold`	$85.40K	USD	Annual
Gross Profit	`GrossProfit`	-	USD	Annual
Gross Profit	`GrossProfit`	$55.38K	USD	Annual
Selling expenses	`SellingExpense`	$24.91K	USD	Annual
Selling expenses	`SellingExpense`	$151.60K	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.16M	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.10M	USD	Annual
Total operating expenses	`OperatingExpenses`	$1.12M	USD	Annual
Total operating expenses	`OperatingExpenses`	$1.31M	USD	Annual
Loss from operation	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.12M	USD	Annual
Loss from operation	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.25M	USD	Annual
Other expense(income), net	`InterestIncomeExpenseNet`	$-2.74K	USD	Annual
Other expense(income), net	`InterestIncomeExpenseNet`	$59.37K	USD	Annual
Interest income	`InterestIncomeOther`	$198.00	USD	Annual
Interest income	`InterestIncomeOther`	$1.01K	USD	Annual
Total other expenses	`OtherNonoperatingIncomeExpense`	$-2.54K	USD	Annual
Total other expenses	`OtherNonoperatingIncomeExpense`	$60.37K	USD	Annual
Net loss	`NetIncomeLoss`	$-1.12M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.19M	USD	Annual
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$5.84K	USD	Annual
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$-63.55K	USD	Annual
Total Comprehensive Loss	`OtherComprehensiveIncomeLossTax`	$1.13M	USD	Annual
Total Comprehensive Loss	`OtherComprehensiveIncomeLossTax`	$1.13M	USD	Annual
Net loss per share Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	Annual
Net loss per share Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	Annual
Weighted average shares outstanding Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	43.63M	shares	Annual
Weighted average shares outstanding Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	55.93M	shares	Annual

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.12M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.19M	USD	Annual
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$29.82K	USD	Annual
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$50.10K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-221.00	USD	Annual
Project in progress	`IncreaseDecreaseInProjectInProgress`	$213.32K	USD	Annual
Project in progress	`IncreaseDecreaseInProjectInProgress`	$-237.36K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	-	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$-90.12K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$-73.82K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$-1.48K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$204.75K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-180.02K	USD	Annual
Accrued expenses and other payables	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$64.47K	USD	Annual
Accrued expenses and other payables	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$51.61K	USD	Annual
Net Cash Used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.15M	USD	Annual
Net Cash Used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.14M	USD	Annual
Cash received from merger	`CashAcquiredFromAcquisition`	-	USD	Annual
Cash received from merger	`CashAcquiredFromAcquisition`	$12.62K	USD	Annual
Leasehold improvements	`ImpairmentOfLeasehold`	$-40.95K	USD	Annual
Leasehold improvements	`ImpairmentOfLeasehold`	-	USD	Annual
Acquisition of office equipment and intangible assets	`PaymentsToAcquireMachineryAndEquipment`	$10.68K	USD	Annual
Acquisition of office equipment and intangible assets	`PaymentsToAcquireMachineryAndEquipment`	$58.96K	USD	Annual
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-87.29K	USD	Annual
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-10.68K	USD	Annual
(Repayment) proceeds of related party loans, net	`RepaymentsOfRelatedPartyDebt`	$43.16K	USD	Annual
(Repayment) proceeds of related party loans, net	`RepaymentsOfRelatedPartyDebt`	$-126.64K	USD	Annual
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$442.03K	USD	Annual
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$1.69M	USD	Annual
Capital contribution	`ProceedsFromContributedCapital`	$662.20K	USD	Annual
Capital contribution	`ProceedsFromContributedCapital`	-	USD	Annual
Advances for sale of common stock	`AdvanceProceedsForSaleOfCommonStock`	$671.83K	USD	Annual
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$1.23M	USD	Annual
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$2.32M	USD	Annual
Effect of Exchange Rate Changes on Cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-694.00	USD	Annual
Effect of Exchange Rate Changes on Cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$7.46K	USD	Annual
Net Increase (decrease) in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.16M	USD	Annual
Net Increase (decrease) in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$5.90K	USD	Annual
Cash Beginning of Year	`CashAndCashEquivalentsAtCarryingValue`	$5.90K	USD	Point-in-time
Cash Beginning of Year	`CashAndCashEquivalentsAtCarryingValue`	$11.80K	USD	Point-in-time
Cash Beginning of Year	`CashAndCashEquivalentsAtCarryingValue`	$1.17M	USD	Point-in-time
Cash End of Year	`CashAndCashEquivalentsAtCarryingValue`	$5.90K	USD	Point-in-time
Cash End of Year	`CashAndCashEquivalentsAtCarryingValue`	$11.80K	USD	Point-in-time
Cash End of Year	`CashAndCashEquivalentsAtCarryingValue`	$1.17M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	-	USD	Annual
Cash paid for interest	`InterestPaid`	-	USD	Annual
Cash paid for income tax	`IncomeTaxesPaid`	-	USD	Annual
Cash paid for income tax	`IncomeTaxesPaid`	-	USD	Annual

Stockholders Equity 19 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$559.00	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$558.63K	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$-6.88K	USD	Point-in-time
Beginning Balance (in shares)	`CommonStockSharesOutstanding`	55.39M	shares	Point-in-time
Beginning Balance (in shares)	`CommonStockSharesOutstanding`	56.61M	shares	Point-in-time
Effect of reverse merger	`CommonStockEffectOfReverseMerger`	$12.62K	USD	Annual
Capital contribution	`ProceedsFromContributedCapital`	$662.20K	USD	Annual
Capital contribution	`ProceedsFromContributedCapital`	-	USD	Annual
Issuance of common stock	`StockIssuedDuringPeriodValueNewIssues`	$1.69M	USD	Annual
Issuance of common stock	`StockIssuedDuringPeriodValueNewIssues`	$442.03K	USD	Annual
Net income	`NetIncomeLoss`	$-1.12M	USD	Annual
Net income	`NetIncomeLoss`	$-1.19M	USD	Annual
Foreign currency translation adjustment	`TemporaryEquityForeignCurrencyTranslationAdjustments`	$-5.84K	USD	Annual
Foreign currency translation adjustment	`TemporaryEquityForeignCurrencyTranslationAdjustments`	$63.55K	USD	Annual
Ending Balance	`StockholdersEquity`	$559.00	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$558.63K	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$-6.88K	USD	Point-in-time
Ending Balance (in shares)	`CommonStockSharesOutstanding`	55.39M	shares	Point-in-time
Ending Balance (in shares)	`CommonStockSharesOutstanding`	56.61M	shares	Point-in-time

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