2024 Q2 Form 10-Q Financial Statement

#000121390024042992 Filed on May 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q4
Revenue $151.00 $131.00 $170.00
YoY Change -12.21% -14.94% -95.66%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.041M $1.430M $1.098M
YoY Change -47.66% -32.45% -53.01%
% of Gross Profit
Research & Development $226.1K $233.9K $287.4K
YoY Change -33.01% -32.51% 12.25%
% of Gross Profit
Depreciation & Amortization $5.790K $5.782K $8.250K
YoY Change -19.13% 0.03% -86.31%
% of Gross Profit
Operating Expenses $1.267M $1.664M $1.385M
YoY Change 275.53% 380.0% -46.56%
Operating Profit -$1.267M -$1.663M
YoY Change -45.54% -33.1%
Interest Expense $63.00K $101.5K $138.7K
YoY Change 59.37% -622.44% 119.19%
% of Operating Profit
Other Income/Expense, Net $63.00K $101.6K -$63.80K
YoY Change 59.36% 16.66%
Pretax Income -$1.204M -$1.562M -$1.354M
YoY Change -47.36% -34.9% -61.69%
Income Tax
% Of Pretax Income
Net Earnings -$983.2K -$1.138M -$1.354M
YoY Change -57.01% -52.58% -61.69%
Net Earnings / Revenue -651156.95% -868558.78% -796441.18%
Basic Earnings Per Share -$0.33 -$0.56
Diluted Earnings Per Share -$0.40 -$0.56 -$0.72
COMMON SHARES
Basic Shares Outstanding 3.009M shares 3.009M shares 2.103M shares
Diluted Shares Outstanding 3.009M shares 2.806M shares

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.249M $6.086M $6.190M
YoY Change -44.2% -43.86% -51.42%
Cash & Equivalents $587.5K $250.0K $953.4K
Short-Term Investments $4.661M $5.836M $5.237M
Other Short-Term Assets $105.4K $230.5K $185.7K
YoY Change -10.08% -9.26% 37.8%
Inventory
Prepaid Expenses $105.4K $230.5K $185.7K
Receivables $192.00 $200.00 $180.00
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $5.355M $6.317M $6.376M
YoY Change -43.78% -43.07% -50.48%
LONG-TERM ASSETS
Property, Plant & Equipment $45.00K $50.78K $130.5K
YoY Change -54.52% -31.29% 63.8%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00
YoY Change -100.0%
Total Long-Term Assets $83.85K $107.6K $130.5K
YoY Change -59.04% -44.63% -45.06%
TOTAL ASSETS
Total Short-Term Assets $5.355M $6.317M $6.376M
Total Long-Term Assets $83.85K $107.6K $130.5K
Total Assets $5.438M $6.425M $6.507M
YoY Change -44.1% -43.1% -50.38%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $361.4K $384.5K $322.8K
YoY Change -15.63% -14.67% -20.23%
Accrued Expenses $44.04K $64.30K $83.67K
YoY Change -41.41% -9.65% 24.25%
Deferred Revenue $143.00 $162.00 $118.00
YoY Change 36.19% 20.0% -36.56%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $405.5K $448.9K $406.6K
YoY Change -19.47% -13.98% -14.13%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00
YoY Change -100.0%
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $405.5K $448.9K $406.6K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $405.5K $448.9K $406.6K
YoY Change -25.95% -23.41% -27.03%
SHAREHOLDERS EQUITY
Retained Earnings -$50.26M -$49.27M -$48.13M
YoY Change 13.15% 16.96% 21.16%
Common Stock $308.00 $308.00 $210.00
YoY Change -85.15% -85.15% -89.81%
Preferred Stock
YoY Change
Treasury Stock (at cost) $398.0K $398.0K $398.0K
YoY Change 0.0% 27.89%
Treasury Stock Shares
Shareholders Equity $6.120M $6.842M $6.100M
YoY Change
Total Liabilities & Shareholders Equity $5.438M $6.425M $6.507M
YoY Change -44.1% -43.1% -50.38%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q4
OPERATING ACTIVITIES
Net Income -$983.2K -$1.138M -$1.354M
YoY Change -57.01% -52.58% -61.69%
Depreciation, Depletion And Amortization $5.790K $5.782K $8.250K
YoY Change -19.13% 0.03% -86.31%
Cash From Operating Activities -$1.073M -$1.477M -$1.370M
YoY Change -24.46% -16.05% -10.54%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $1.176M -$648.5K $1.664M
YoY Change -36.42% -159.19% -152.0%
Cash From Investing Activities $1.176M -$648.4K $1.664M
YoY Change -35.29% -159.19% -156.08%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 236.0K $1.421M 0.000
YoY Change -371.92% -554.66% -100.0%
NET CHANGE
Cash From Operating Activities -1.073M -$1.477M -1.370M
Cash From Investing Activities 1.176M -$648.4K 1.664M
Cash From Financing Activities 236.0K $1.421M 0.000
Net Change In Cash 339.1K -$704.9K 294.3K
YoY Change 9.22% -27.82% -106.54%
FREE CASH FLOW
Cash From Operating Activities -$1.073M -$1.477M -$1.370M
Capital Expenditures $0.00
Free Cash Flow -$1.370M
YoY Change 5.53%

Facts In Submission

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CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><span style="text-decoration:underline">Use of estimates</span></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of the financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses, and the related disclosures at the date of the consolidated financial statements and during the reporting period. Actual results could materially differ from these estimates. Significant estimates include assumptions used in assessing impairment of long-term assets, the valuation of intangible assets, the valuation of digital currencies and other digital assets, the valuation of lease liabilities and related right of use assets, the valuation of short-term investments, the valuation of deferred tax assets, the fair value of assets and liabilities of VIE’s on the initial VIE consolidation date, and the fair value of non-cash equity transactions.</p>
CY2023Q1 us-gaap Unrealized Gain Loss On Investments
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85035 usd
CY2024Q1 us-gaap Accounts Receivable Net
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CY2023Q4 us-gaap Accounts Receivable Net
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CY2024Q1 us-gaap Impairment Of Leasehold
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CY2023Q1 us-gaap Impairment Of Leasehold
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CY2024Q1 us-gaap Revenues
Revenues
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CY2023Q1 us-gaap Revenues
Revenues
154 usd
CY2024Q1 us-gaap Research And Development Expense
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233918 usd
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CY2023Q1 us-gaap Advertising Expense
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CY2024Q1 dats Largest Amount Of Tax Benefit
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0.50 pure
CY2024Q1 us-gaap Cumulative Translation Adjustment Net Of Tax Period Increase Decrease
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CY2023Q1 us-gaap Cumulative Translation Adjustment Net Of Tax Period Increase Decrease
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CY2024Q1 dats Common Stock Warrants
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CY2023Q1 dats Common Stock Warrants
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CY2024Q1 dats Common Stock Options
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CY2023Q1 dats Common Stock Options
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CY2024Q1 dats Commonstockequivalents
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CY2023Q1 dats Commonstockequivalents
Commonstockequivalents
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CY2023Q1 us-gaap Short Term Investments
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CY2024Q1 us-gaap Investment Owned At Fair Value
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CY2024Q1 us-gaap Lessee Operating Lease Remaining Lease Term
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P9M
CY2024Q1 us-gaap Subordinated Borrowing Interest Rate
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CY2024Q1 dats Rightof Use Office Lease
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CY2024Q1 dats Operating Lease Right Of Use Asset Accumulated Amortization
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CY2024Q1 us-gaap Operating Lease Right Of Use Asset
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CY2024Q1 dats Rightof Use Office Lease
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CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
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CY2023Q4 us-gaap Operating Lease Liability
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CY2024Q1 us-gaap Operating Lease Liability Current
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CY2023Q4 us-gaap Operating Lease Liability Current
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CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
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CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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CY2024Q1 us-gaap Operating Lease Liability Current
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CY2023Q1 us-gaap Repayments Of Debt
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CY2023Q4 us-gaap Other Liabilities Current
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OtherIncome
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CY2024Q1 us-gaap Investments And Cash
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CY2023Q3 us-gaap Common Stock Par Or Stated Value Per Share
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CY2023Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
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CY2023Q4 us-gaap Preferred Stock Shares Issued
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CY2023Q4 us-gaap Preferred Stock Shares Authorized
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200000000 shares
CY2021Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
200000 shares
CY2024Q1 us-gaap Stockholders Equity Note Stock Split
StockholdersEquityNoteStockSplit
In August 2016, the Company designated one share of Series A Preferred Stock, par value $0.0001 per share (the “Series A Preferred Stock”), which has a stated value equal to $1.00 as may be adjusted for any stock dividends, combinations or splits. Each one (1) share of the Series A Preferred Stock shall have voting rights equal to (x) the total issued and outstanding Common Stock eligible to vote at the time of the respective vote divided by (y) forty-nine one hundredths (0.49) minus (z) the total issued and outstanding Common Stock eligible to vote at the time of the respective vote.
CY2023 us-gaap Preferred Stock Voting Rights
PreferredStockVotingRights
10
CY2023Q4 us-gaap Preferred Stock Redemption Amount
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CY2024Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
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1.8499
CY2024Q1 us-gaap Proceeds From Issuance Initial Public Offering
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1799939 usd
CY2024Q1 dats Received Net Proceeds
ReceivedNetProceeds
1420773 usd
CY2024Q1 dats Underwriters Discounts And Offering Costs
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CY2024Q1 us-gaap Legal Fees
LegalFees
100000 usd
CY2024Q1 dats Underwriting Shares
UnderwritingShares
590000 shares
CY2023Q1 srt Stock Repurchase Program Authorized Amount1
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2000000 usd
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66945 shares
CY2023Q1 us-gaap Stock Repurchased During Period Shares
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CY2023Q1 us-gaap Shares Issued Price Per Share
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6.48
CY2023Q1 dats Restricted Common Shares Issued
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CY2023Q1 dats Common Share Fair Values
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100000 usd
CY2023Q1 dats Common Share Fair Value
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6.99
CY2024Q1 us-gaap Professional Fees
ProfessionalFees
25000 usd
CY2024Q1 us-gaap Prepaid Expense And Other Assets
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31720 usd
CY2024Q1 dats Stock Options At Fair Value
StockOptionsAtFairValue
22500 usd
CY2024Q1 us-gaap Sale Of Stock Price Per Share
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0.015
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5304 usd
CY2024Q1 us-gaap Prepaid Expense Current And Noncurrent
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17196 usd
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ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
21500 shares
CY2023Q1 dats Stock Option Exercisable Term
StockOptionExercisableTerm
P5Y
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12.5
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
10000 shares
CY2023Q3 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2
P5Y
CY2023Q3 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Price1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1
15
CY2023 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
185628 usd
CY2023 us-gaap Stock Option Exercise Price Increase
StockOptionExercisePriceIncrease
4.76
CY2024Q1 us-gaap Stock Issued During Period Shares Share Based Compensation Forfeited
StockIssuedDuringPeriodSharesShareBasedCompensationForfeited
17500 shares
CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
27031 usd
CY2023Q1 us-gaap Stock Issued During Period Shares Share Based Compensation Forfeited
StockIssuedDuringPeriodSharesShareBasedCompensationForfeited
178750 shares
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
132366 usd
CY2023Q1 us-gaap Professional Fees
ProfessionalFees
20701 usd
CY2024Q1 dats Share Based Compensation Related Expense
ShareBasedCompensationRelatedExpense
28714 usd
CY2024Q1 dats Stock Based Consulting Fees
StockBasedConsultingFees
22019 usd
CY2023Q1 dats Share Based Compensation Related Expense
ShareBasedCompensationRelatedExpense
625178 usd
CY2023Q1 dats Stock Based Consulting Fees
StockBasedConsultingFees
21900 usd
CY2024Q1 dats Stock Issued During Period Shares Issued For Service
StockIssuedDuringPeriodSharesIssuedForService
38861 usd
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P0Y7M6D
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P3Y
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
1.68 pure
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0396 pure
CY2024Q1 dats Class Of Warrant Purchase Amount
ClassOfWarrantPurchaseAmount
590000 shares
CY2024Q1 dats Public Offering Price
PublicOfferingPrice
1.8499
CY2024Q1 dats Warrant Underwriters Excercise
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590000 shares
CY2023Q3 us-gaap Warrants And Rights Outstanding
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0 usd
CY2021Q3 us-gaap Accrued Salaries Current And Noncurrent
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450000 usd
CY2021Q3 us-gaap Accrued Bonuses Current And Noncurrent
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350000 usd
CY2024Q1 us-gaap Compensating Balance Amount
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300000 usd
CY2023Q1 us-gaap Compensating Balance Amount
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300000 usd
CY2024Q1 us-gaap Principal Transactions Revenue
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5000000 usd
CY2024Q1 dats Placement Fee Percentage
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0.10 pure
CY2024Q1 dats Underwriting Discount Percentage
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0.08 pure
CY2024Q1 us-gaap Other Prepaid Expense Current
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CY2024Q1 us-gaap Other Prepaid Expense Current
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CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
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false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
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false
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q1 us-gaap Variable Interest Entity Initial Consolidation Gain Or Loss
VariableInterestEntityInitialConsolidationGainOrLoss
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CY2023Q1 dats Gain On Deconsolidation Of Variable Interest Entities
GainOnDeconsolidationOfVariableInterestEntities
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CY2023Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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CY2024Q1 us-gaap Realized Investment Gains Losses
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CY2023Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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CY2024Q1 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
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CY2024Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
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CY2024Q1 dats Stock Issued During Period Value Initial Recording On Noncontrolling Interest
StockIssuedDuringPeriodValueInitialRecordingOnNoncontrollingInterest
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CY2023Q1 dats Common Stocks Amount Rounding
CommonStocksAmountRounding
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CY2024Q1 dats Gain From Initial Consolidation Of Variable Interest Entities
GainFromInitialConsolidationOfVariableInterestEntities
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CY2023Q1 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
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CY2023Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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CY2024Q1 us-gaap Other Asset Impairment Charges
OtherAssetImpairmentCharges
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CY2024Q1 dats Realized Gain On Shortterm Investments
RealizedGainOnShorttermInvestments
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CY2024Q1 us-gaap Realized Investment Gains Losses
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CY2024Q1 us-gaap Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
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CY2024Q1 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
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CY2023Q1 us-gaap Proceeds From Issuance Of Common Stock
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CY2023Q1 us-gaap Proceeds From Issuance Of Warrants
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CY2024Q1 dats Paymentsto Treasury Stock
PaymentstoTreasuryStock
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CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
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CY2023Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
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CY2024Q1 dats Increase In Shortterm Investments And Accumulated Other Comprehensive Gain
IncreaseInShorttermInvestmentsAndAccumulatedOtherComprehensiveGain
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CY2024Q1 us-gaap Advertising Expense
AdvertisingExpense
34717 usd
CY2024Q1 us-gaap Unrealized Gain Loss On Investments
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CY2024Q1 dats Unrealized Gains Loss On Investments
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CY2024Q1 us-gaap Operating Lease Liability Noncurrent
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CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
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CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
pure
CY2024Q1 dei Amendment Flag
AmendmentFlag
false
CY2024Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2024Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2024Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001648960

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dats-20240331_cal.xml Edgar Link unprocessable
dats-20240331_lab.xml Edgar Link unprocessable