10-Q Filing

DATASEA INC. CIK: 1631282 Q3 2019

Filing Information

Form Type	10-Q
Accession Number	`0001615774-19-007920`
Period End Date	20190331
Filing Date	20190515
Fiscal Year	2019
Fiscal Period	Q3
XBRL Instance	dtss-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 54 Income Statement 65 Cash Flow Statement 48 Stockholders Equity 24

Balance Sheet 54 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, 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, authorized	`CommonStockSharesAuthorized`	375.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.55M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$5.34M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.03M	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	19.17M	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
Common stock, outstanding	`CommonStockSharesOutstanding`	20.94M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	19.17M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	19.17M	shares	Point-in-time
Inventory	`InventoryNet`	$75.91K	USD	Point-in-time
Inventory	`InventoryNet`	$74.98K	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	20.94M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssets`	$127.88K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssets`	$114.49K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.24M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$5.53M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$55.27K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$46.95K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$13.89K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$58.49K	USD	Point-in-time
Deferred registration costs	`DeferredCosts`	-	USD	Point-in-time
Deferred registration costs	`DeferredCosts`	$72.53K	USD	Point-in-time
Escrow	`EscrowDeposit`	$600.00K	USD	Point-in-time
Escrow	`EscrowDeposit`	$1.00M	USD	Point-in-time
Total Assets	`Assets`	$1.38M	USD	Point-in-time
Total Assets	`Assets`	$6.24M	USD	Point-in-time
Accounts payable	`AccruedLiabilitiesCurrent`	$13.39K	USD	Point-in-time
Accounts payable	`AccruedLiabilitiesCurrent`	$13.50K	USD	Point-in-time
Accrued expenses and other payables	`AccruedExpensesAndOtherPayables`	$150.28K	USD	Point-in-time
Accrued expenses and other payables	`AccruedExpensesAndOtherPayables`	$103.46K	USD	Point-in-time
Loan payable-shareholder	`LoanPayableshareholder`	$27.06K	USD	Point-in-time
Loan payable-shareholder	`LoanPayableshareholder`	$11.17K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$190.84K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$128.03K	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 March 31, 2019 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 March 31, 2019 and June 30, 2018, respectively	`CommonStockValue`	$20.95K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$11.10M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$5.12M	USD	Point-in-time
Accumulated comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$393.13K	USD	Point-in-time
Accumulated comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$170.79K	USD	Point-in-time
Deficit	`RetainedEarningsAccumulatedDeficit`	$-5.41M	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`	$558.63K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$6.11M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$1.38M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$6.24M	USD	Point-in-time

Income Statement 65 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	-	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	$6.47K	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	$15.50K	USD	3 Qtrs
Revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	-	USD	3 Qtrs
Cost of goods sold	`CostOfGoodsAndServicesSold`	$91.00	USD	3 Qtrs
Cost of goods sold	`CostOfGoodsAndServicesSold`	-	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$70.00	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	-	USD	3 Qtrs
Gross (deficit)profit	`GrossProfit`	$15.41K	USD	3 Qtrs
Gross (deficit)profit	`GrossProfit`	-	USD	1 Quarter
Gross (deficit)profit	`GrossProfit`	-	USD	3 Qtrs
Gross (deficit)profit	`GrossProfit`	$6.40K	USD	1 Quarter
Selling expenses	`SellingExpense`	$34.39K	USD	1 Quarter
Selling expenses	`SellingExpense`	$148.61K	USD	3 Qtrs
Selling expenses	`SellingExpense`	$183.24K	USD	3 Qtrs
Selling expenses	`SellingExpense`	$82.95K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.01M	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$510.98K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$891.34K	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$290.56K	USD	1 Quarter
R&D expenses	`ResearchAndDevelopmentExpense`	$29.22K	USD	1 Quarter
R&D expenses	`ResearchAndDevelopmentExpense`	$251.88K	USD	3 Qtrs
R&D expenses	`ResearchAndDevelopmentExpense`	$133.10K	USD	3 Qtrs
R&D expenses	`ResearchAndDevelopmentExpense`	$77.87K	USD	1 Quarter
Total operating expenses:	`OperatingExpenses`	$1.33M	USD	3 Qtrs
Total operating expenses:	`OperatingExpenses`	$1.29M	USD	3 Qtrs
Total operating expenses:	`OperatingExpenses`	$451.37K	USD	1 Quarter
Total operating expenses:	`OperatingExpenses`	$574.59K	USD	1 Quarter
Loss from operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.33M	USD	3 Qtrs
Loss from operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.28M	USD	3 Qtrs
Loss from operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-574.59K	USD	1 Quarter
Loss from operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-444.98K	USD	1 Quarter
Other (expense) income, net	`InterestIncomeExpenseNet`	$6.04K	USD	1 Quarter
Other (expense) income, net	`InterestIncomeExpenseNet`	$894.00	USD	1 Quarter
Other (expense) income, net	`InterestIncomeExpenseNet`	$-2.57K	USD	3 Qtrs
Other (expense) income, net	`InterestIncomeExpenseNet`	$37.48K	USD	3 Qtrs
Interest income	`InterestAndDividendIncomeOperating`	-	USD	3 Qtrs
Interest income	`InterestAndDividendIncomeOperating`	$47.11K	USD	3 Qtrs
Interest income	`InterestAndDividendIncomeOperating`	$32.70K	USD	1 Quarter
Interest income	`InterestAndDividendIncomeOperating`	-	USD	1 Quarter
Total other income(expense)	`OtherNonoperatingIncomeExpense`	$44.54K	USD	3 Qtrs
Total other income(expense)	`OtherNonoperatingIncomeExpense`	$6.04K	USD	1 Quarter
Total other income(expense)	`OtherNonoperatingIncomeExpense`	$33.59K	USD	1 Quarter
Total other income(expense)	`OtherNonoperatingIncomeExpense`	$37.48K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-1.24M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-438.94K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.60M	USD	Annual
Net loss	`NetIncomeLoss`	$-541.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.28M	USD	3 Qtrs
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$-222.33K	USD	3 Qtrs
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$-311.02K	USD	3 Qtrs
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$-55.86K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$-198.21K	USD	1 Quarter
Total comprehensive loss	`OtherComprehensiveIncomeLossTax`	$342.79K	USD	1 Quarter
Total comprehensive loss	`OtherComprehensiveIncomeLossTax`	$1.06M	USD	3 Qtrs
Total comprehensive loss	`OtherComprehensiveIncomeLossTax`	$927.91K	USD	3 Qtrs
Total comprehensive loss	`OtherComprehensiveIncomeLossTax`	$383.07K	USD	1 Quarter
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.06	USD	3 Qtrs
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.06	USD	3 Qtrs
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	1 Quarter
Basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	20.94M	shares	1 Quarter
Basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	19.17M	shares	1 Quarter
Basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	19.85M	shares	3 Qtrs
Basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	19.12M	shares	3 Qtrs

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.24M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-438.94K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.60M	USD	Annual
Net loss	`NetIncomeLoss`	$-541.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.28M	USD	3 Qtrs
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$28.29K	USD	3 Qtrs
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$22.66K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-229.00	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$-22.91K	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$-279.00	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$-12.10K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$65.30K	USD	3 Qtrs
Accrued expenses and other payables	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-44.79K	USD	3 Qtrs
Accrued expenses and other payables	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$2.23K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.26M	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.29M	USD	3 Qtrs
Acquisition of office equipment and intangible assets	`PaymentsToAcquireMachineryAndEquipment`	$14.29K	USD	3 Qtrs
Acquisition of office equipment and intangible assets	`PaymentsToAcquireMachineryAndEquipment`	$64.53K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-14.29K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-64.53K	USD	3 Qtrs
Payment of loan payable - shareholder, net	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-25.97K	USD	3 Qtrs
Payment of loan payable - shareholder, net	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-15.39K	USD	3 Qtrs
Net proceeds from sale of common stock-offering	`ProceedsFromIssuanceOfCommonStock`	$5.70M	USD	Point-in-time
Net proceeds from sale of common stock-offering	`ProceedsFromIssuanceOfCommonStock`	$5.24M	USD	3 Qtrs
Net proceeds from sale of common stock-offering	`ProceedsFromIssuanceOfCommonStock`	-	USD	3 Qtrs
Deferred financing costs	`PaymentsOfFinancingCosts`	-	USD	3 Qtrs
Deferred financing costs	`PaymentsOfFinancingCosts`	$73.72K	USD	3 Qtrs
Net proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock1`	$1.42M	USD	3 Qtrs
Net proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock1`	$308.86K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.32M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$5.53M	USD	3 Qtrs
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$324.28K	USD	3 Qtrs
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$129.72K	USD	3 Qtrs
Net increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$373.78K	USD	3 Qtrs
Net increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$4.31M	USD	3 Qtrs
Cash - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.55M	USD	Point-in-time
Cash - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.34M	USD	Point-in-time
Cash - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.03M	USD	Point-in-time
Cash - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.17M	USD	Point-in-time
Cash - end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.55M	USD	Point-in-time
Cash - end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.34M	USD	Point-in-time
Cash - end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.03M	USD	Point-in-time
Cash - end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.17M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	-	USD	3 Qtrs
Cash paid for interest	`InterestPaidNet`	-	USD	3 Qtrs
Cash paid for income tax	`IncomeTaxesPaid`	-	USD	3 Qtrs
Cash paid for income tax	`IncomeTaxesPaid`	-	USD	3 Qtrs

Stockholders Equity 24 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$1.19M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$558.63K	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$6.11M	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
Beginning Balance (in shares)	`CommonStockSharesOutstanding`	20.94M	shares	Point-in-time
Issuance of common stock	`StockIssuedDuringPeriodValueOther`	$2.12M	USD	Annual
Sale of common stock	`StockIssuedDuringPeriodValueNewIssues`	$307.45K	USD	3 Qtrs
Sale of common stock-offering	`StockIssuedDuringPeriodValueIssuedForServices`	$5.68M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-1.24M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-438.94K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.60M	USD	Annual
Net loss	`NetIncomeLoss`	$-541.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.28M	USD	3 Qtrs
Foreign currency translation gain	`TemporaryEquityForeignCurrencyTranslationAdjustments`	$222.33K	USD	3 Qtrs
Foreign currency translation gain	`TemporaryEquityForeignCurrencyTranslationAdjustments`	$113.10K	USD	Annual
Ending Balance	`StockholdersEquity`	$1.19M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$558.63K	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$6.11M	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
Ending Balance (in shares)	`CommonStockSharesOutstanding`	20.94M	shares	Point-in-time

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