10-Q Filing

DATASEA INC. CIK: 1631282 Q2 2018

Filing Information

Form Type	10-Q
Accession Number	`0001615774-18-001123`
Period End Date	20171231
Filing Date	20180213
Fiscal Year	2018
Fiscal Period	Q2
XBRL Instance	dtss-20171231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 51 Income Statement 60 Cash Flow Statement 47

Balance Sheet 51 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, authorized	`CommonStockSharesAuthorized`	375.00M	shares	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	375.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$325.14K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.17M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.90M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$11.80K	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	56.61M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	57.51M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	55.39M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	56.61M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	-	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$221.00	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	57.51M	shares	Point-in-time
Inventory	`InventoryNet`	$101.30K	USD	Point-in-time
Inventory	`InventoryNet`	$105.51K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssets`	$179.09K	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`	$2.18M	USD	Point-in-time
Deferred financing costs	`DeferredCosts`	$74.19K	USD	Point-in-time
Deferred financing costs	`DeferredCosts`	-	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$61.41K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$59.29K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$13.51K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$13.78K	USD	Point-in-time
Total Assets	`Assets`	$2.33M	USD	Point-in-time
Total Assets	`Assets`	$1.44M	USD	Point-in-time
Accounts payable	`AccruedLiabilitiesCurrent`	$13.26K	USD	Point-in-time
Accounts payable	`AccruedLiabilitiesCurrent`	$13.81K	USD	Point-in-time
Accrued expenses and other payables	`AccruedExpensesAndOtherPayables`	$78.16K	USD	Point-in-time
Accrued expenses and other payables	`AccruedExpensesAndOtherPayables`	$66.97K	USD	Point-in-time
Advance for sale of common stock	`AdvancesForSaleOfCommonStock`	-	USD	Point-in-time
Advance for sale of common stock	`AdvancesForSaleOfCommonStock`	$675.24K	USD	Point-in-time
Loan payable-shareholder	`LoanPayableshareholder`	$109.14K	USD	Point-in-time
Loan payable-shareholder	`LoanPayableshareholder`	$129.87K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$885.35K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$201.11K	USD	Point-in-time
Common stock, $0.001 par value, 375,000,000 shares authorized, 57,511,771 and 56,610,271 shares issued and outstanding at December 31, 2017 and June 30, 2017, respectively	`CommonStockValue`	$56.61K	USD	Point-in-time
Common stock, $0.001 par value, 375,000,000 shares authorized, 57,511,771 and 56,610,271 shares issued and outstanding at December 31, 2017 and June 30, 2017, respectively	`CommonStockValue`	$57.51K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$2.97M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$5.08M	USD	Point-in-time
Accumulated comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$57.69K	USD	Point-in-time
Accumulated comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$312.85K	USD	Point-in-time
Deficit	`RetainedEarningsAccumulatedDeficit`	$-2.52M	USD	Point-in-time
Deficit	`RetainedEarningsAccumulatedDeficit`	$-3.32M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$2.13M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$558.63K	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$2.33M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$1.44M	USD	Point-in-time

Income Statement 60 line items

Line Item	Tag	Value	Unit	Period
Revenues	`SalesRevenueNet`	$132.96K	USD	2 Qtrs
Revenues	`SalesRevenueNet`	-	USD	1 Quarter
Revenues	`SalesRevenueNet`	$132.96K	USD	1 Quarter
Revenues	`SalesRevenueNet`	$9.03K	USD	2 Qtrs
Cost of goods sold	`CostOfGoodsSold`	-	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$21.00	USD	2 Qtrs
Cost of goods sold	`CostOfGoodsSold`	$139.02K	USD	2 Qtrs
Cost of goods sold	`CostOfGoodsSold`	$139.02K	USD	1 Quarter
Gross profit(loss)	`GrossProfit`	$-6.05K	USD	1 Quarter
Gross profit(loss)	`GrossProfit`	$-6.05K	USD	2 Qtrs
Gross profit(loss)	`GrossProfit`	-	USD	1 Quarter
Gross profit(loss)	`GrossProfit`	$9.01K	USD	2 Qtrs
Selling expenses	`SellingExpense`	$31.28K	USD	1 Quarter
Selling expenses	`SellingExpense`	$65.66K	USD	2 Qtrs
Selling expenses	`SellingExpense`	$10.37K	USD	1 Quarter
Selling expenses	`SellingExpense`	$55.09K	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$207.54K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$367.68K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$432.72K	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$774.79K	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`	$840.45K	USD	2 Qtrs
Total operating expenses:	`OperatingExpenses`	$398.96K	USD	1 Quarter
Loss from operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-493.86K	USD	2 Qtrs
Loss from operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-831.44K	USD	2 Qtrs
Loss from operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-223.97K	USD	1 Quarter
Loss from operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-398.96K	USD	1 Quarter
Other (expense)income, net	`InterestIncomeExpenseNet`	$31.44K	USD	2 Qtrs
Other (expense)income, net	`InterestIncomeExpenseNet`	$11.23K	USD	1 Quarter
Other (expense)income, net	`InterestIncomeExpenseNet`	$7.46K	USD	1 Quarter
Other (expense)income, net	`InterestIncomeExpenseNet`	$14.25K	USD	2 Qtrs
Interest income	`InterestIncomeOther`	$171.00	USD	1 Quarter
Interest income	`InterestIncomeOther`	-	USD	1 Quarter
Interest income	`InterestIncomeOther`	-	USD	2 Qtrs
Interest income	`InterestIncomeOther`	$203.00	USD	2 Qtrs
Total other income(expense)	`OtherNonoperatingIncomeExpense`	$31.44K	USD	2 Qtrs
Total other income(expense)	`OtherNonoperatingIncomeExpense`	$14.46K	USD	2 Qtrs
Total other income(expense)	`OtherNonoperatingIncomeExpense`	$11.40K	USD	1 Quarter
Total other income(expense)	`OtherNonoperatingIncomeExpense`	$7.46K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-212.57K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-391.50K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-800.00K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-479.41K	USD	2 Qtrs
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$-90.59K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$9.15K	USD	2 Qtrs
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$-255.16K	USD	2 Qtrs
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$48.08K	USD	1 Quarter
Total comprehensive loss	`OtherComprehensiveIncomeLossTax`	$544.84K	USD	2 Qtrs
Total comprehensive loss	`OtherComprehensiveIncomeLossTax`	$300.91K	USD	1 Quarter
Total comprehensive loss	`OtherComprehensiveIncomeLossTax`	$488.56K	USD	2 Qtrs
Total comprehensive loss	`OtherComprehensiveIncomeLossTax`	$260.66K	USD	1 Quarter
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	2 Qtrs
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	2 Qtrs
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	57.27M	shares	2 Qtrs
Basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	57.51M	shares	1 Quarter
Basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	55.81M	shares	1 Quarter
Basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	55.62M	shares	2 Qtrs

Cash Flow Statement 47 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-212.57K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-391.50K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-800.00K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-479.41K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$34.98K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$14.47K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-226.00	USD	2 Qtrs
Project in progress	`IncreaseDecreaseInProjectInProgress`	-	USD	2 Qtrs
Project in progress	`IncreaseDecreaseInProjectInProgress`	$206.73K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$-15.95K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$79.09K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	-	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-149.17K	USD	2 Qtrs
Accrued expenses and other payables	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$8.26K	USD	2 Qtrs
Accrued expenses and other payables	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-10.69K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-856.12K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-381.61K	USD	2 Qtrs
Acquisition of office equipment and intangible assets	`PaymentsToAcquireMachineryAndEquipment`	$13.30K	USD	2 Qtrs
Acquisition of office equipment and intangible assets	`PaymentsToAcquireMachineryAndEquipment`	$8.54K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-8.54K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-13.30K	USD	2 Qtrs
Proceeds(payment) of loan payable, shareholder, net	`RepaymentsOfRelatedPartyDebt`	$25.61K	USD	2 Qtrs
Proceeds(payment) of loan payable, shareholder, net	`RepaymentsOfRelatedPartyDebt`	$66.67K	USD	2 Qtrs
Net proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$1.43M	USD	2 Qtrs
Net proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$779.70K	USD	2 Qtrs
Deferred financing costs	`PaymentsOfFinancingCosts`	$72.68K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$713.03K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.33M	USD	2 Qtrs
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$262.95K	USD	2 Qtrs
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-9.54K	USD	2 Qtrs
Net increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$313.34K	USD	2 Qtrs
Net increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$724.77K	USD	2 Qtrs
Cash - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$325.14K	USD	Point-in-time
Cash - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.17M	USD	Point-in-time
Cash - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.90M	USD	Point-in-time
Cash - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$11.80K	USD	Point-in-time
Cash - ending of period	`CashAndCashEquivalentsAtCarryingValue`	$325.14K	USD	Point-in-time
Cash - ending of period	`CashAndCashEquivalentsAtCarryingValue`	$1.17M	USD	Point-in-time
Cash - ending of period	`CashAndCashEquivalentsAtCarryingValue`	$1.90M	USD	Point-in-time
Cash - ending of period	`CashAndCashEquivalentsAtCarryingValue`	$11.80K	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	-	USD	2 Qtrs
Cash paid for interest	`InterestPaidNet`	-	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.