10-K Filing

DATASEA INC. CIK: 1631282 FY 2018

Filing Information

Form Type	10-K
Accession Number	`0001615774-18-009518`
Period End Date	20180630
Filing Date	20180913
Fiscal Year	2018
Fiscal Period	FY
XBRL Instance	dtss-20180630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 50 Income Statement 32 Cash Flow Statement 45 Stockholders Equity 16

Balance Sheet 50 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`	125.00M	shares	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	125.00M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	19.17M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	18.87M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.17M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.03M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$11.80K	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	18.87M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	-	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$221.00	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	19.17M	shares	Point-in-time
Inventory	`InventoryNet`	$75.91K	USD	Point-in-time
Inventory	`InventoryNet`	$101.30K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssets`	$94.44K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssets`	$127.88K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.24M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.37M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$59.29K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$55.27K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$13.78K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$13.89K	USD	Point-in-time
Deferred registration costs	`DeferredCosts`	$72.53K	USD	Point-in-time
Deferred registration costs	`DeferredCosts`	-	USD	Point-in-time
Total Assets	`Assets`	$1.44M	USD	Point-in-time
Total Assets	`Assets`	$1.38M	USD	Point-in-time
Accounts payable	`AccruedLiabilitiesCurrent`	$13.50K	USD	Point-in-time
Accounts payable	`AccruedLiabilitiesCurrent`	$13.26K	USD	Point-in-time
Accrued expenses and other payables	`AccruedExpensesAndOtherPayables`	$150.28K	USD	Point-in-time
Accrued expenses and other payables	`AccruedExpensesAndOtherPayables`	$66.97K	USD	Point-in-time
Advance for sale of common stock	`AdvancesForSaleOfCommonStock`	$675.24K	USD	Point-in-time
Advance for sale of common stock	`AdvancesForSaleOfCommonStock`	-	USD	Point-in-time
Loan payable-shareholder	`LoanPayableshareholder`	$129.87K	USD	Point-in-time
Loan payable-shareholder	`LoanPayableshareholder`	$27.06K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$190.84K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$885.35K	USD	Point-in-time
Common stock, $0.001 par value, 125,000,000 shares authorized, 19,170,846 and 18,870,327 shares issued and outstanding at June 30, 2018 and 2017, respectively	`CommonStockValue`	$19.17K	USD	Point-in-time
Common stock, $0.001 par value, 125,000,000 shares authorized, 19,170,846 and 18,870,327 shares issued and outstanding at June 30, 2018 and 2017, respectively	`CommonStockValue`	$18.87K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$5.12M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$3.00M	USD	Point-in-time
Accumulated comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$170.79K	USD	Point-in-time
Accumulated comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$57.69K	USD	Point-in-time
Deficit	`RetainedEarningsAccumulatedDeficit`	$-2.52M	USD	Point-in-time
Deficit	`RetainedEarningsAccumulatedDeficit`	$-4.12M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$1.19M	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 Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$1.38M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$1.44M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	$140.77K	USD	Annual
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	$10.57K	USD	Annual
Cost of goods sold	`CostOfGoodsAndServicesSold`	$85.40K	USD	Annual
Cost of goods sold	`CostOfGoodsAndServicesSold`	$4.82K	USD	Annual
Gross profit	`GrossProfit`	$55.38K	USD	Annual
Gross profit	`GrossProfit`	$5.75K	USD	Annual
Selling expenses	`SellingExpense`	$172.03K	USD	Annual
Selling expenses	`SellingExpense`	$151.60K	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$953.77K	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.13M	USD	Annual
R & D expenses	`ResearchAndDevelopmentExpense`	$203.60K	USD	Annual
R & D expenses	`ResearchAndDevelopmentExpense`	$361.62K	USD	Annual
Total operating expenses	`OperatingExpenses`	$1.67M	USD	Annual
Total operating expenses	`OperatingExpenses`	$1.31M	USD	Annual
Loss from operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.66M	USD	Annual
Loss from operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.25M	USD	Annual
Other income, net	`InterestIncomeExpenseNet`	$59.37K	USD	Annual
Other income, net	`InterestIncomeExpenseNet`	$57.56K	USD	Annual
Interest expense	`InterestExpense`	$274.00	USD	Annual
Interest expense	`InterestExpense`	$-1.01K	USD	Annual
Total other income(expense)	`OtherNonoperatingIncomeExpense`	$60.37K	USD	Annual
Total other income(expense)	`OtherNonoperatingIncomeExpense`	$57.29K	USD	Annual
Net loss	`NetIncomeLoss`	$-1.60M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.19M	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$-63.55K	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$-113.10K	USD	Annual
Total comprehensive loss	`OtherComprehensiveIncomeLossTax`	$1.13M	USD	Annual
Total comprehensive loss	`OtherComprehensiveIncomeLossTax`	$1.49M	USD	Annual
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.08	USD	Annual
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.06	USD	Annual
Basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	18.60M	shares	Annual
Basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	19.13M	shares	Annual

Cash Flow Statement 45 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.60M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.19M	USD	Annual
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$50.10K	USD	Annual
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$32.69K	USD	Annual
Expenses paid by president	`ExpensePaidByPresident`	$-9.00K	USD	Annual
Expenses paid by president	`ExpensePaidByPresident`	$-88.50K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-225.00	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$221.00	USD	Annual
Project in progress	`IncreaseDecreaseInProjectInProgress`	$213.32K	USD	Annual
Project in progress	`IncreaseDecreaseInProjectInProgress`	-	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$-27.20K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$90.12K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$31.66K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$1.48K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-180.02K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	-	USD	Annual
Accrued expenses and other payables	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$51.61K	USD	Annual
Accrued expenses and other payables	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$81.96K	USD	Annual
Net cash (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.48M	USD	Annual
Net cash (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.06M	USD	Annual
Acquisition of office equipment and intangible assets	`PaymentsToAcquireMachineryAndEquipment`	$27.45K	USD	Annual
Acquisition of office equipment and intangible assets	`PaymentsToAcquireMachineryAndEquipment`	$10.68K	USD	Annual
Net cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-10.68K	USD	Annual
Net cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-27.45K	USD	Annual
(Payment) of loan payable - shareholder, net	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-131.66K	USD	Annual
(Payment) of loan payable - shareholder, net	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-123.85K	USD	Annual
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$1.43M	USD	Annual
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$1.69M	USD	Annual
(Payment)deferred registration costs	`PaymentsOfFinancingCosts`	$72.41K	USD	Annual
(Payment)deferred registration costs	`PaymentsOfFinancingCosts`	-	USD	Annual
Advances for issuance of common stock	`ProceedsFromIssuanceOfCommonStock1`	$671.83K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.23M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.24M	USD	Annual
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$7.46K	USD	Annual
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$132.85K	USD	Annual
Net (decrease)increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-143.46K	USD	Annual
Net (decrease)increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.16M	USD	Annual
Cash - beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$1.17M	USD	Point-in-time
Cash - beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$1.03M	USD	Point-in-time
Cash - beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$11.80K	USD	Point-in-time
Cash - ending of year	`CashAndCashEquivalentsAtCarryingValue`	$1.17M	USD	Point-in-time
Cash - ending of year	`CashAndCashEquivalentsAtCarryingValue`	$1.03M	USD	Point-in-time
Cash - ending of year	`CashAndCashEquivalentsAtCarryingValue`	$11.80K	USD	Point-in-time
Expenses paid by president	`ExpensePaidByPresident`	$-9.00K	USD	Annual
Expenses paid by president	`ExpensePaidByPresident`	$-88.50K	USD	Annual

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$1.19M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$559.00	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$558.63K	USD	Point-in-time
Beginning Balance (in shares)	`CommonStockSharesOutstanding`	18.87M	shares	Point-in-time
Beginning Balance (in shares)	`CommonStockSharesOutstanding`	19.17M	shares	Point-in-time
Issuance of common stock	`StockIssuedDuringPeriodValueNewIssues`	$1.69M	USD	Annual
Issuance of common stock	`StockIssuedDuringPeriodValueNewIssues`	$2.12M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.60M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.19M	USD	Annual
Foreign currency translation gain	`TemporaryEquityForeignCurrencyTranslationAdjustments`	$63.55K	USD	Annual
Foreign currency translation gain	`TemporaryEquityForeignCurrencyTranslationAdjustments`	$113.10K	USD	Annual
Ending Balance	`StockholdersEquity`	$1.19M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$559.00	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$558.63K	USD	Point-in-time
Ending Balance (in shares)	`CommonStockSharesOutstanding`	18.87M	shares	Point-in-time
Ending Balance (in shares)	`CommonStockSharesOutstanding`	19.17M	shares	Point-in-time

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