10-Q Filing

DATASEA INC. CIK: 1631282 Q2 2019

Filing Information

Form Type	10-Q
Accession Number	`0001615774-19-002549`
Period End Date	20181231
Filing Date	20190214
Fiscal Year	2019
Fiscal Period	Q2
XBRL Instance	dtss-20181231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 50 Income Statement 65 Cash Flow Statement 50 Stockholders Equity 22

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`	375.00M	shares	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	375.00M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	19.17M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.17M	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	20.94M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$5.27M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.90M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.03M	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	20.94M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	19.17M	shares	Point-in-time
Inventory	`InventoryNet`	$73.19K	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	19.17M	shares	Point-in-time
Inventory	`InventoryNet`	$75.91K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssets`	$127.88K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssets`	$122.36K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.24M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$5.47M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$55.27K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$51.62K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$26.30K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$13.89K	USD	Point-in-time
Deferred registration costs	`DeferredCosts`	-	USD	Point-in-time
Deferred registration costs	`DeferredCosts`	$72.53K	USD	Point-in-time
Escrow	`EscrowDeposit`	$1.00M	USD	Point-in-time
Escrow	`EscrowDeposit`	-	USD	Point-in-time
Total Assets	`Assets`	$6.55M	USD	Point-in-time
Total Assets	`Assets`	$1.38M	USD	Point-in-time
Accounts payable	`AccruedLiabilitiesCurrent`	$13.07K	USD	Point-in-time
Accounts payable	`AccruedLiabilitiesCurrent`	$13.50K	USD	Point-in-time
Accrued expenses and other payables	`AccruedExpensesAndOtherPayables`	$73.75K	USD	Point-in-time
Accrued expenses and other payables	`AccruedExpensesAndOtherPayables`	$150.28K	USD	Point-in-time
Loan payable-shareholder	`LoanPayableshareholder`	$27.06K	USD	Point-in-time
Loan payable-shareholder	`LoanPayableshareholder`	$8.73K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$95.54K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$190.84K	USD	Point-in-time
Common stock, $0.001 par value, 375,000,000 shares authorized, 20,943,846 and 19,170,846 shares issued and outstanding at December 31 and June 30, 2018, respectively	`CommonStockValue`	$19.17K	USD	Point-in-time
Common stock, $0.001 par value, 375,000,000 shares authorized, 20,943,846 and 19,170,846 shares issued and outstanding at December 31 and June 30, 2018, respectively	`CommonStockValue`	$20.95K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$5.12M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$11.10M	USD	Point-in-time
Accumulated comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$194.92K	USD	Point-in-time
Accumulated comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$170.79K	USD	Point-in-time
Deficit	`RetainedEarningsAccumulatedDeficit`	$-4.12M	USD	Point-in-time
Deficit	`RetainedEarningsAccumulatedDeficit`	$-4.87M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$1.19M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$6.45M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$558.63K	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$6.55M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$1.38M	USD	Point-in-time

Income Statement 65 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	$9.03K	USD	2 Qtrs
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	-	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	-	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	-	USD	2 Qtrs
Cost of goods sold	`CostOfGoodsAndServicesSold`	-	USD	2 Qtrs
Cost of goods sold	`CostOfGoodsAndServicesSold`	$21.00	USD	2 Qtrs
Cost of goods sold	`CostOfGoodsAndServicesSold`	-	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	-	USD	1 Quarter
Gross (deficit)profit	`GrossProfit`	$9.01K	USD	2 Qtrs
Gross (deficit)profit	`GrossProfit`	-	USD	1 Quarter
Gross (deficit)profit	`GrossProfit`	-	USD	2 Qtrs
Gross (deficit)profit	`GrossProfit`	-	USD	1 Quarter
Selling expenses	`SellingExpense`	$65.66K	USD	2 Qtrs
Selling expenses	`SellingExpense`	$71.97K	USD	1 Quarter
Selling expenses	`SellingExpense`	$31.28K	USD	1 Quarter
Selling expenses	`SellingExpense`	$148.85K	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$275.58K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$603.23K	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$290.68K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$502.15K	USD	2 Qtrs
R&D expenses	`ResearchAndDevelopmentExpense`	$103.89K	USD	2 Qtrs
R&D expenses	`ResearchAndDevelopmentExpense`	$41.11K	USD	1 Quarter
R&D expenses	`ResearchAndDevelopmentExpense`	$77.00K	USD	1 Quarter
R&D expenses	`ResearchAndDevelopmentExpense`	$171.56K	USD	2 Qtrs
Total operating expenses:	`OperatingExpenses`	$398.96K	USD	1 Quarter
Total operating expenses:	`OperatingExpenses`	$388.67K	USD	1 Quarter
Total operating expenses:	`OperatingExpenses`	$840.45K	USD	2 Qtrs
Total operating expenses:	`OperatingExpenses`	$754.89K	USD	2 Qtrs
Loss from operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-398.96K	USD	1 Quarter
Loss from operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-754.89K	USD	2 Qtrs
Loss from operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-831.44K	USD	2 Qtrs
Loss from operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-388.67K	USD	1 Quarter
Other (expense) income, net	`InterestIncomeExpenseNet`	$-3.46K	USD	2 Qtrs
Other (expense) income, net	`InterestIncomeExpenseNet`	$460.00	USD	1 Quarter
Other (expense) income, net	`InterestIncomeExpenseNet`	$7.46K	USD	1 Quarter
Other (expense) income, net	`InterestIncomeExpenseNet`	$31.44K	USD	2 Qtrs
Interest income	`InterestAndDividendIncomeOperating`	$8.50K	USD	1 Quarter
Interest income	`InterestAndDividendIncomeOperating`	-	USD	2 Qtrs
Interest income	`InterestAndDividendIncomeOperating`	$14.42K	USD	2 Qtrs
Interest income	`InterestAndDividendIncomeOperating`	-	USD	1 Quarter
Total other income(expense)	`OtherNonoperatingIncomeExpense`	$7.46K	USD	1 Quarter
Total other income(expense)	`OtherNonoperatingIncomeExpense`	$31.44K	USD	2 Qtrs
Total other income(expense)	`OtherNonoperatingIncomeExpense`	$8.96K	USD	1 Quarter
Total other income(expense)	`OtherNonoperatingIncomeExpense`	$10.95K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.60M	USD	Annual
Net loss	`NetIncomeLoss`	$-743.94K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-379.71K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-391.50K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-800.00K	USD	2 Qtrs
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$-255.16K	USD	2 Qtrs
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$-24.12K	USD	2 Qtrs
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$7.45K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$-90.59K	USD	1 Quarter
Total comprehensive loss	`OtherComprehensiveIncomeLossTax`	$300.91K	USD	1 Quarter
Total comprehensive loss	`OtherComprehensiveIncomeLossTax`	$719.81K	USD	2 Qtrs
Total comprehensive loss	`OtherComprehensiveIncomeLossTax`	$387.16K	USD	1 Quarter
Total comprehensive loss	`OtherComprehensiveIncomeLossTax`	$544.84K	USD	2 Qtrs
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.04	USD	2 Qtrs
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.04	USD	2 Qtrs
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter
Basic and dulited (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	19.09M	shares	2 Qtrs
Basic and dulited (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	19.31M	shares	2 Qtrs
Basic and dulited (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	19.17M	shares	1 Quarter
Basic and dulited (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	19.45M	shares	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.60M	USD	Annual
Net loss	`NetIncomeLoss`	$-743.94K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-379.71K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-391.50K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-800.00K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$19.32K	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
Inventory	`IncreaseDecreaseInInventories`	-	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$-278.00	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$79.09K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$-1.41K	USD	2 Qtrs
Accrued expenses and other payables	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-71.92K	USD	2 Qtrs
Accrued expenses and other payables	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$8.26K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-856.12K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-794.85K	USD	2 Qtrs
Acquisition of office equipment and intangible assets	`PaymentsToAcquireMachineryAndEquipment`	$30.34K	USD	2 Qtrs
Acquisition of office equipment and intangible assets	`PaymentsToAcquireMachineryAndEquipment`	$13.30K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-30.34K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-13.30K	USD	2 Qtrs
Payment of loan payable - shareholder, net	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-25.61K	USD	2 Qtrs
Payment of loan payable - shareholder, net	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-17.51K	USD	2 Qtrs
Net proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$4.75M	USD	2 Qtrs
Net proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	2 Qtrs
Net proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$5.70M	USD	Point-in-time
Deferred financing costs	`PaymentsOfFinancingCosts`	-	USD	2 Qtrs
Deferred financing costs	`PaymentsOfFinancingCosts`	$72.68K	USD	2 Qtrs
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock1`	$1.43M	USD	2 Qtrs
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock1`	$307.72K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$5.04M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.33M	USD	2 Qtrs
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$28.57K	USD	2 Qtrs
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$262.95K	USD	2 Qtrs
Net increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$4.24M	USD	2 Qtrs
Net increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$724.77K	USD	2 Qtrs
Cash - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.17M	USD	Point-in-time
Cash - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.27M	USD	Point-in-time
Cash - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.90M	USD	Point-in-time
Cash - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.03M	USD	Point-in-time
Cash - end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.17M	USD	Point-in-time
Cash - end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.27M	USD	Point-in-time
Cash - end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.90M	USD	Point-in-time
Cash - end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.03M	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
Net proceeds from offering placed in Escrow	`NetProceedsFromOfferingPlacedInEscrow`	$1.00M	USD	2 Qtrs
Net proceeds from offering placed in Escrow	`NetProceedsFromOfferingPlacedInEscrow`	-	USD	2 Qtrs

Stockholders Equity 22 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$1.19M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$6.45M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$558.63K	USD	Point-in-time
Beginning Balance (in shares)	`CommonStockSharesOutstanding`	20.94M	shares	Point-in-time
Beginning Balance (in shares)	`CommonStockSharesOutstanding`	19.17M	shares	Point-in-time
Beginning Balance (in shares)	`CommonStockSharesOutstanding`	19.17M	shares	Point-in-time
Sale of common stock	`StockIssuedDuringPeriodValueNewIssues`	$307.45K	USD	2 Qtrs
Sale of common stock	`StockIssuedDuringPeriodValueNewIssues`	$2.12M	USD	Annual
Sale of common stock-offering	`StockIssuedDuringPeriodValueIssuedForServices`	$5.68M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.60M	USD	Annual
Net loss	`NetIncomeLoss`	$-743.94K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-379.71K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-391.50K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-800.00K	USD	2 Qtrs
Foreign currency translation gain	`TemporaryEquityForeignCurrencyTranslationAdjustments`	$113.10K	USD	Annual
Foreign currency translation gain	`TemporaryEquityForeignCurrencyTranslationAdjustments`	$24.12K	USD	2 Qtrs
Ending Balance	`StockholdersEquity`	$1.19M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$6.45M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$558.63K	USD	Point-in-time
Ending Balance (in shares)	`CommonStockSharesOutstanding`	20.94M	shares	Point-in-time
Ending Balance (in shares)	`CommonStockSharesOutstanding`	19.17M	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.