2022 Q4 Form 10-Q Financial Statement

#000121390022071986 Filed on November 14, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q4
Revenue $410.0K $1.164M $8.979M
YoY Change -95.43% 73.48% 6807.29%
Cost Of Revenue $371.4K $1.014M $8.733M
YoY Change -95.75% 66.92% 21732.95%
Gross Profit $54.33K $150.2K $246.3K
YoY Change -77.94% 136.2% 173.67%
Gross Profit Margin 13.25% 12.9% 2.74%
Selling, General & Admin $1.280M $1.344M $1.655M
YoY Change -22.66% -0.5% 77.96%
% of Gross Profit 2355.98% 894.5% 671.94%
Research & Development $149.1K $263.3K $432.4K
YoY Change -65.52% -8.32% 232.58%
% of Gross Profit 274.36% 175.32% 175.54%
Depreciation & Amortization $30.81K $40.86K $141.5K
YoY Change -78.23% -55.6% 371.73%
% of Gross Profit 56.71% 27.2% 57.46%
Operating Expenses $1.429M $1.607M $2.087M
YoY Change -31.54% -1.87% 95.08%
Operating Profit -$1.375M -$1.457M -$1.841M
YoY Change -25.33% -7.45% 87.86%
Interest Expense $50.00 $100.00 $12.36K
YoY Change -99.6% -99.51%
% of Operating Profit
Other Income/Expense, Net -$36.35K $22.71K $5.220K
YoY Change -796.38% 113425.0% -126.1%
Pretax Income -$1.411M -$1.434M -$1.823M
YoY Change -22.62% -7.69% 82.35%
Income Tax $0.00 $8.00 $0.00
% Of Pretax Income
Net Earnings -$1.291M -$1.337M -$1.677M
YoY Change -23.03% -7.21% 74.72%
Net Earnings / Revenue -314.88% -114.86% -18.68%
Basic Earnings Per Share -$0.05 -$0.05 -$0.07
Diluted Earnings Per Share -$0.05 -$0.05 -$70.12K
COMMON SHARES
Basic Shares Outstanding 24.32M shares 24.37M shares 23.92M shares
Diluted Shares Outstanding 24.32M shares 24.32M shares 23.92M shares

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $149.3K $349.1K $2.241M
YoY Change -93.34% -93.99% 140.94%
Cash & Equivalents $43.31K $93.07K $2.241M
Short-Term Investments $106.0K $256.0K $0.00
Other Short-Term Assets $136.0K $48.83K $1.454M
YoY Change -90.65% -87.44% 146.49%
Inventory $253.5K $194.9K $210.8K
Prepaid Expenses
Receivables $388.3K $155.3K $5.223M
Other Receivables $528.4K $518.3K $0.00
Total Short-Term Assets $1.325M $979.0K $9.129M
YoY Change -85.48% -86.76% 288.47%
LONG-TERM ASSETS
Property, Plant & Equipment $111.0K $138.6K $1.211M
YoY Change -90.83% -90.24% -41.76%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $57.43K $56.34K $337.9K
YoY Change -83.0% -78.6%
Other Assets
YoY Change
Total Long-Term Assets $1.932M $2.113M $2.745M
YoY Change -29.59% -23.84% -6.96%
TOTAL ASSETS
Total Short-Term Assets $1.325M $979.0K $9.129M
Total Long-Term Assets $1.932M $2.113M $2.745M
Total Assets $3.258M $3.092M $11.87M
YoY Change -72.56% -69.59% 124.03%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.341M $1.112M $5.022M
YoY Change -73.31% 48.23% 7074.3%
Accrued Expenses $628.5K $296.8K $972.8K
YoY Change -35.39% -74.82% -10.76%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $866.6K $0.00
YoY Change -11.97%
Long-Term Debt Due $1.592M
YoY Change
Total Short-Term Liabilities $4.121M $2.802M $6.573M
YoY Change -37.3% -19.09% 405.63%
LONG-TERM LIABILITIES
Long-Term Debt $168.4K $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $0.00 $229.0K
YoY Change -100.0% -100.0% -75.89%
Total Long-Term Liabilities $168.4K $0.00 $229.0K
YoY Change -26.48% -100.0% -75.89%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.121M $2.802M $6.573M
Total Long-Term Liabilities $168.4K $0.00 $229.0K
Total Liabilities $4.290M $2.802M $6.304M
YoY Change -31.95% -18.77% 185.26%
SHAREHOLDERS EQUITY
Retained Earnings -$21.21M -$19.92M
YoY Change
Common Stock $24.33K $24.33K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$971.9K $1.245M $5.569M
YoY Change
Total Liabilities & Shareholders Equity $3.258M $3.092M $11.87M
YoY Change -72.56% -69.59% 124.03%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q4
OPERATING ACTIVITIES
Net Income -$1.291M -$1.337M -$1.677M
YoY Change -23.03% -7.21% 74.72%
Depreciation, Depletion And Amortization $30.81K $40.86K $141.5K
YoY Change -78.23% -55.6% 371.73%
Cash From Operating Activities -$1.014M -$752.7K -$2.425M
YoY Change -58.19% -46.23% 157.94%
INVESTING ACTIVITIES
Capital Expenditures -$69.30K -$73.56K -$212.8K
YoY Change -67.43% 703.06% 325.56%
Acquisitions
YoY Change
Other Investing Activities $530.00 -$29.29K -$62.19K
YoY Change -100.85%
Cash From Investing Activities $69.82K -$102.8K -$275.0K
YoY Change -125.39% 1022.76% 449.92%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 892.9K $790.3K -935.1K
YoY Change -195.49% -88.98% -200.55%
NET CHANGE
Cash From Operating Activities -1.014M -$752.7K -2.425M
Cash From Investing Activities 69.82K -$102.8K -275.0K
Cash From Financing Activities 892.9K $790.3K -935.1K
Net Change In Cash -51.06K -$71.14K -3.635M
YoY Change -98.6% -101.23% 5957.87%
FREE CASH FLOW
Cash From Operating Activities -$1.014M -$752.7K -$2.425M
Capital Expenditures -$69.30K -$73.56K -$212.8K
Free Cash Flow -$944.5K -$679.1K -$2.212M
YoY Change -57.3% -51.17% 148.52%

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IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
223916 usd
CY2022Q3 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-154519 usd
CY2021Q3 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-202552 usd
CY2022Q3 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-752697 usd
CY2021Q3 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1399969 usd
CY2022Q3 us-gaap Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
403 usd
CY2021Q3 us-gaap Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
9156 usd
CY2022Q3 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
73154 usd
CY2022Q3 us-gaap Payments To Acquire Longterm Investments
PaymentsToAcquireLongtermInvestments
29288 usd
CY2022Q3 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-102845 usd
CY2021Q3 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-9156 usd
CY2022Q3 dtss Proceed From Due To Related Parties
ProceedFromDueToRelatedParties
-30206 usd
CY2021Q3 dtss Proceed From Due To Related Parties
ProceedFromDueToRelatedParties
-11712 usd
CY2022Q3 dtss Payment Of Loan Payable
PaymentOfLoanPayable
-820508 usd
CY2021Q3 dtss Payment Of Loan Payable
PaymentOfLoanPayable
497625 usd
CY2021Q3 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
7681796 usd
CY2022Q3 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
790302 usd
CY2021Q3 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
7172459 usd
CY2022Q3 dtss Effect Of Exchange Rate On Cash And Cash Equivalent
EffectOfExchangeRateOnCashAndCashEquivalent
-5903 usd
CY2021Q3 dtss Effect Of Exchange Rate On Cash And Cash Equivalent
EffectOfExchangeRateOnCashAndCashEquivalent
-7648 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-71143 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
5755686 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
164217 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
49676 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
93074 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5805362 usd
CY2021Q3 dtss Transfer Of Prepaid Software Development Expenditure To Intangible Assets
TransferOfPrepaidSoftwareDevelopmentExpenditureToIntangibleAssets
50000 usd
CY2022Q3 us-gaap Net Income Loss Allocated To Limited Partners
NetIncomeLossAllocatedToLimitedPartners
1340000 usd
CY2021Q3 us-gaap Net Income Loss Allocated To Limited Partners
NetIncomeLossAllocatedToLimitedPartners
1440000 usd
CY2022Q3 us-gaap Retained Earnings Appropriated
RetainedEarningsAppropriated
19920000 usd
CY2022Q3 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
750000 usd
CY2021Q3 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
1400000 usd
CY2022Q3 dtss Basis Of Presentation And Consolidation Deseciption
BasisOfPresentationAndConsolidationDeseciption
the Company and its 100% owned subsidiaries Shuhai Information Skill (HK) Limited (“Shuhai Skill (HK)”), and Shuhai Information Technology Co., Ltd. (“Tianjin Information”), and its VIE, Shuhai Beijing, and Shuhai Beijing’s 100% owned subsidiaries – Heilongjiang Xunrui Technology Co. Ltd. (“Xunrui”), Guozhong Times (Beijing) Technology Ltd. (“Guozhong Times”), Guohao Century (Beijing) Technology Ltd. (“Guohao Century”), Guozhong Haoze, and Shuhai Jingwei (Shenzhen) Information Technology Co., Ltd. (“Jingwei”), and Guohao Century’s 99% owned subsidiary – Hangzhou Zhangqi Business Management Partnership (“Zhangqi”, a limited partnership) and 69.81% owned subsidiary – Hangzhou Shuhai Zhangxun Information Technology Co., Ltd. (“Zhangxun”) which consisted of 51% ownership from Guohao Century and 19% ownership from Zhangqi, and Shuhai Beijing’s 99% owned subsidiary - Nanjing Shuhai Equity Investment Fund Management Co. Ltd. (“Shuhai Nanjing”). During the year ended June 30, 2022, the Company incorporated two new subsidiaries Shuhai (Shenzhen) Acoustic Effect Technology Co., Ltd (“Shuhai Acoustic”) and Shenzhen Acoustic Effect Management Partnership (“Shenzhen Acoustic MP”). All significant inter-company transactions and balances were eliminated in consolidation. The chart below depicts the corporate structure of the Company as of the date of this report.
CY2022Q3 dtss Equity Interests Price Per Share
EquityInterestsPricePerShare
0.001
CY2022Q3 dtss Contribution
Contribution
1
CY2022Q3 dtss Agreed Price
AgreedPrice
1
CY2022Q3 dtss Agreement Term
AgreementTerm
P10Y
CY2022Q3 us-gaap Use Of Estimates
UseOfEstimates
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; "><span><b>USE OF ESTIMATES </b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span>The preparation of CFS in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. The significant areas requiring the use of management estimates include, but are not limited to, the estimated useful life and residual value of property, plant and equipment, provision for staff benefits, recognition and measurement of deferred income taxes and the valuation allowance for deferred tax assets. Although these estimates are based on management’s knowledge of current events and actions management may undertake in the future, actual results may ultimately differ from those estimates and such differences may be material to the CFS. </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p>
CY2022Q3 us-gaap Inventory Gross
InventoryGross
53854 usd
CY2022Q2 us-gaap Inventory Gross
InventoryGross
56971 usd
CY2022Q3 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P3Y
CY2022Q3 us-gaap Revenue Recognition Leases
RevenueRecognitionLeases
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt; text-align: justify"><span><b>UNEARNED REVENUE</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span>The Company records payments received in advance from its customers or sales agents for the Company’s products as unearned revenue, mainly consisting of deposits or prepayment for 5G products from the Company’s sales agencies. These orders normally are delivered based upon contract terms and customer demand, and will recognize as revenue when the products are delivered to the end customers.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p>
CY2022Q3 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
305146 usd
CY2022Q3 dtss Operating Leases Liability
OperatingLeasesLiability
320826 usd
CY2022Q3 us-gaap Deferred Revenue
DeferredRevenue
1040000.00 usd
CY2022Q3 us-gaap Related Parties Amount In Cost Of Sales
RelatedPartiesAmountInCostOfSales
124544 usd
CY2022Q3 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span><b>CONCENTRATION OF CREDIT RISK </b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span>The Company maintains cash in accounts with state-owned banks within the PRC. Cash in state-owned banks less than RMB500,000 ($76,000) is covered by insurance. Should any institution holding the Company’s cash become insolvent, or if the Company is unable to withdraw funds for any reason, the Company could lose the cash on deposit with that institution. The Company has not experienced any losses in such accounts and believes it is not exposed to any risks on its cash in these bank accounts. Cash denominated in RMB with a U.S. dollar equivalent of $84,929 and $153,607 as of September 30, 2022 and June 30, 2022, respectively, was held in accounts at financial institutions located in the PRC‚ which is not freely convertible into foreign currencies.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span>Cash held in accounts at U.S. financial institutions is insured by the Federal Deposit Insurance Corporation or other programs subject to certain limitations up to $250,000 per depositor. As of September 30, 2022, cash of $2,436 was maintained at U.S. financial institutions. Cash was maintained at financial institutions in Hong Kong, and was insured by the Hong Kong Deposit Protection Board up to a limit of HK $500,000 ($64,000). As of September 30, 2022, the cash balance of $5,709 was maintained at financial institutions in Hong Kong. The Company, its subsidiaries and VIE have not experienced any losses in such accounts and do not believe the cash is exposed to any significant risk.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p>
CY2022Q3 dtss Cash At Bank
CashAtBank
500000 cny
CY2022Q3 dtss Cash At Bank
CashAtBank
-76000 usd
CY2022Q3 dtss Foreign Currency Translation Amount
ForeignCurrencyTranslationAmount
84929 usd
CY2022Q2 dtss Foreign Currency Translation Amount
ForeignCurrencyTranslationAmount
153607 usd
CY2022Q3 us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
250000 usd
CY2022Q3 dtss Deposit Protection
DepositProtection
500000 hkd
CY2022Q3 dtss Deposit Protection
DepositProtection
64000 usd
CY2022Q3 dtss Number Of Warrants Anti Dilutive
NumberOfWarrantsAntiDilutive
1319953 shares
CY2021Q3 dtss Number Of Warrants Anti Dilutive
NumberOfWarrantsAntiDilutive
1319953 shares
CY2022Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
591599 usd
CY2022Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
625425 usd
CY2022Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
452957 usd
CY2022Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
437594 usd
CY2022Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
138642 usd
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
187831 usd
CY2022Q3 us-gaap Depreciation
Depreciation
40861 usd
CY2021Q3 us-gaap Depreciation
Depreciation
40253 usd
CY2022Q3 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
2274622 usd
CY2021Q2 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
2265275 usd
CY2022Q3 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
661677 usd
CY2021Q2 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
523484 usd
CY2022Q3 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
1612945 usd
CY2021Q2 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
1741791 usd
CY2022Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
148903 usd
CY2021Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
51769 usd
CY2022Q3 us-gaap Security Deposit
SecurityDeposit
256014 usd
CY2022Q3 dtss Invested Stock Ownership
InvestedStockOwnership
-28170 usd
CY2022Q3 us-gaap Availableforsale Securities In Unrealized Loss Positions Qualitative Disclosure Other Percentage Of Nonperforming Assets
AvailableforsaleSecuritiesInUnrealizedLossPositionsQualitativeDisclosureOtherPercentageOfNonperformingAssets
0.01 pure
CY2022Q2 us-gaap Security Deposit
SecurityDeposit
255325 usd
CY2022Q3 us-gaap Prepaid Insurance
PrepaidInsurance
157897 usd
CY2022Q2 us-gaap Prepaid Insurance
PrepaidInsurance
230745 usd
CY2022Q3 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
518324 usd
CY2022Q2 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
548321 usd
CY2022Q3 us-gaap Due From Other Related Parties Current
DueFromOtherRelatedPartiesCurrent
21240 usd
CY2022Q2 us-gaap Due From Other Related Parties Current
DueFromOtherRelatedPartiesCurrent
49299 usd
CY2022Q3 us-gaap Other Assets Current
OtherAssetsCurrent
48826 usd
CY2022Q2 us-gaap Other Assets Current
OtherAssetsCurrent
39943 usd
CY2022Q3 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
1002301 usd
CY2022Q2 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
1190683 usd
CY2022Q3 us-gaap Accounts Notes And Loans Receivable Net Current
AccountsNotesAndLoansReceivableNetCurrent
518324 usd
CY2022Q2 us-gaap Accounts Notes And Loans Receivable Net Current
AccountsNotesAndLoansReceivableNetCurrent
548321 usd
CY2022Q3 us-gaap Other Assets
OtherAssets
483977 usd
CY2022Q2 us-gaap Other Assets
OtherAssets
575312 usd
CY2020Q1 dtss Cooperation Agreement Description
CooperationAgreementDescription
On February 20, 2020, Guozhong Times entered an Operation Cooperation Agreement with an unrelated company, Heqin (Beijing) Technology Co, Ltd. (“Heqin”), for marketing and promoting the sale of Face Recognition Payment Processing equipment and related technical support, and other products of the Company including Epidemic Prevention and Control Systems. Heqin has a sales team which used to work with Fortune 500 companies and specializes in business marketing and sales channel establishment and expansion, especially in education industry and public area. It has successful experience of organizing multiple business matchmaking meetings with customers, distributors and retailers. 
CY2020Q3 us-gaap Debt Instrument Unused Borrowing Capacity Amount
DebtInstrumentUnusedBorrowingCapacityAmount
10000000 cny
CY2020Q3 us-gaap Debt Instrument Unused Borrowing Capacity Amount
DebtInstrumentUnusedBorrowingCapacityAmount
1410000 usd
CY2021Q2 us-gaap Interest Receivable And Other Assets
InterestReceivableAndOtherAssets
3680000 cny
CY2021Q4 us-gaap Interest Receivable And Other Assets
InterestReceivableAndOtherAssets
569651 usd
CY2021Q2 us-gaap Interest Receivable And Other Assets
InterestReceivableAndOtherAssets
548321 usd
CY2020Q2 us-gaap Interest And Debt Expense
InterestAndDebtExpense
200000 cny
CY2020Q3 us-gaap Interest And Debt Expense
InterestAndDebtExpense
200000 cny
CY2020Q2 us-gaap Interest And Debt Expense
InterestAndDebtExpense
28250 usd
CY2020Q3 us-gaap Interest And Debt Expense
InterestAndDebtExpense
28250 usd
CY2020Q2 us-gaap Investment Interest Rate
InvestmentInterestRate
0.15 pure
CY2020Q3 us-gaap Investment Interest Rate
InvestmentInterestRate
0.15 pure
CY2022Q3 us-gaap Debt Securities Held To Maturity Nonaccrual No Allowance
DebtSecuritiesHeldToMaturityNonaccrualNoAllowance
518324 usd
CY2022Q2 us-gaap Debt Securities Held To Maturity Nonaccrual No Allowance
DebtSecuritiesHeldToMaturityNonaccrualNoAllowance
548321 usd
CY2021Q4 dtss Invested Stock Ownership
InvestedStockOwnership
300000 cny
CY2021Q4 dtss Invested Stock Ownership
InvestedStockOwnership
-47300 usd
CY2021Q4 us-gaap Availableforsale Securities In Unrealized Loss Positions Qualitative Disclosure Other Percentage Of Nonperforming Assets
AvailableforsaleSecuritiesInUnrealizedLossPositionsQualitativeDisclosureOtherPercentageOfNonperformingAssets
0.03 pure
CY2021Q4 us-gaap Other Long Term Investments
OtherLongTermInvestments
29800 usd
CY2022Q3 dtss Invested Stock Ownership
InvestedStockOwnership
200000 cny
CY2022Q3 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
144275 usd
CY2022Q2 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
147269 usd
CY2022Q3 dtss Due To Third Parties
DueToThirdParties
144663 usd
CY2022 dtss Due To Third Parties
DueToThirdParties
117531 usd
CY2022Q3 dtss Social Security Payable
SocialSecurityPayable
396189 usd
CY2022Q2 dtss Social Security Payable
SocialSecurityPayable
425700 usd
CY2022Q3 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
426386 usd
CY2022Q2 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
304384 usd
CY2022Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
1111513 usd
CY2022Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
994884 usd
CY2022Q2 us-gaap Securities Loaned Or Sold Under Agreements To Repurchase Fair Value Disclosure
SecuritiesLoanedOrSoldUnderAgreementsToRepurchaseFairValueDisclosure
596001 usd
CY2022 dtss Repaid Amount
RepaidAmount
447001 usd
CY2021Q3 us-gaap Loans Payable
LoansPayable
789177 usd
CY2022Q3 us-gaap Other Receivables
OtherReceivables
67050 usd
CY2022Q2 us-gaap Other Receivables
OtherReceivables
67050 usd
CY2022Q3 us-gaap Certain Loans Acquired In Transfer Accounted For As Debt Securities Outstanding Balance
CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesOutstandingBalance
866644 usd
CY2022Q2 us-gaap Certain Loans Acquired In Transfer Accounted For As Debt Securities Outstanding Balance
CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesOutstandingBalance
81950 usd
CY2022Q3 dtss Share Based Goods And Nonemployee Service Transaction Valuation Method Expected Volatility Rate
ShareBasedGoodsAndNonemployeeServiceTransactionValuationMethodExpectedVolatilityRate
1.50 pure
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0037 pure
CY2022Q3 us-gaap Payments For Rent
PaymentsForRent
0 usd
CY2021Q3 us-gaap Payments For Rent
PaymentsForRent
2898 usd
CY2022Q2 dtss Annual Rent Expense
AnnualRentExpense
235710 cny
CY2022Q2 dtss Annual Rent Expense
AnnualRentExpense
-35120 usd
CY2021Q3 us-gaap Payments For Rent
PaymentsForRent
18000 cny
CY2021Q3 dtss Total Rent Payment
TotalRentPayment
-2636 usd
CY2021Q3 dtss Annual Rent Expense
AnnualRentExpense
32000 cny
CY2021Q3 dtss Annual Rent Expense
AnnualRentExpense
-4686 usd
CY2021Q3 dtss Annual Rent Expense
AnnualRentExpense
91200 cny
CY2021Q3 dtss Annual Rent Expense
AnnualRentExpense
-13355 usd
CY2021Q3 us-gaap Leasing Commissions Expense
LeasingCommissionsExpense
7047 usd
CY2022Q3 us-gaap Due To Other Related Parties Noncurrent
DueToOtherRelatedPartiesNoncurrent
68902 usd
CY2022Q2 us-gaap Due To Other Related Parties Noncurrent
DueToOtherRelatedPartiesNoncurrent
102331 usd
CY2021Q3 dtss Aggregate Of Shares
AggregateOfShares
2436904 shares
CY2022Q3 us-gaap Stock Issued During Period Shares Purchase Of Assets
StockIssuedDuringPeriodSharesPurchaseOfAssets
1096608 shares
CY2022Q3 us-gaap Payments For Proceeds From Investments
PaymentsForProceedsFromInvestments
8480426 usd
CY2022Q3 dtss Exercise Price Per Share
ExercisePricePerShare
4.48
CY2022Q3 dtss Share Based Goods And Nonemployee Service Transaction Valuation Method Expected Dividend Rate
ShareBasedGoodsAndNonemployeeServiceTransactionValuationMethodExpectedDividendRate
0 pure
CY2022Q3 us-gaap Stock And Warrants Issued During Period Value Preferred Stock And Warrants
StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants
1986880 usd
CY2022Q3 dtss Description Of Warrants Issued
DescriptionOfWarrantsIssued
In addition, the Company has also agreed to issue to its placement agent for offering above warrants to purchase a number of shares of the common stock equal to 5.0% of the aggregate number of shares of the common stock sold in this offering (121,845 shares of warrants), the warrants have an exercise price of $4.48 per share and will terminate on the two and one-half-year anniversary of the closing of the offering. The Company accounted for the warrants issued based on the FV method under FASB ASC Topic 505, and the FV of the warrants was calculated using the Black-Scholes model under the following assumptions: life of 2.5 years, volatility of 150%, risk-free interest rate of 0.37% and dividend yield of 0%. The FV of the warrants issued at grant date was $225,964.
CY2022Q3 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
4500 usd
CY2021Q3 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
6000 usd
CY2021Q3 dtss Shares To Officers Description
SharesToOfficersDescription
On September 24, 2021, under the 2018 Equity Inventive plan, the Company’s Board of Directors granted 15,000 shares of the Company’s common stock to its CEO each month and 10,000 shares to one of the board members each month starting  from July 1, 2021, payable quarterly with the aggregate number of shares for each quarter being issued on the first day of the next quarter at a per share price of the closing price of the day prior to the issuance. During the three months ended September 30, 2022, the Company recorded $111,750 stock compensation expense to the Company’s CEO and one of the board members for the quarter. 
CY2021Q4 us-gaap Deferred Compensation Equity
DeferredCompensationEquity
3000 usd
CY2021Q4 us-gaap Common Stock Dividends Shares
CommonStockDividendsShares
9740 shares
CY2022 us-gaap Dividends Common Stock Stock
DividendsCommonStockStock
15001 usd
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Shares Issued In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod
167112 shares
CY2021Q4 dtss Board Members
BoardMembers
1 pure
CY2021Q4 us-gaap Salaries And Wages
SalariesAndWages
259023 usd
CY2021Q4 dtss Market Price Per Share
MarketPricePerShare
1.55
CY2022Q3 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.21 pure
CY2022Q3 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
2180000 usd
CY2022Q2 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
2190000 usd
CY2022Q3 dtss Reduce Of Taxpayer Percentage
ReduceOfTaxpayerPercentage
0.80 pure
CY2022Q3 us-gaap Description Of Other Regulatory Limitations
DescriptionOfOtherRegulatoryLimitations
However, the Coronavirus Aid, Relief and Economic Security Act (“the CARES Act”) passed in March 2020, provides tax relief to both corporate and noncorporate taxpayers by adding a five-year carryback period and temporarily repealing the 80% limitation for NOLs arising in 2018, 2019 and 2020.
CY2022Q3 dtss Percentage Of Differed Tax Asset
PercentageOfDifferedTaxAsset
1 pure
CY2022Q3 dtss Corporate Tax Description
CorporateTaxDescription
The Company’s offshore subsidiary, Shuhai Skill (HK), a HK holding company is subject to 16.5% corporate income tax in HK. Shuhai Beijing received a tax holiday with a 15% corporate income tax rate since it qualified as a high-tech company. Tianjin Information, Xunrui, Guozhong Times, Guozhong Haoze, Guohao Century, Jingwei, Shuhai Nanjing, Zhangxun are subject to the regular 25% PRC income tax rate. 
CY2022Q3 dtss Prc Subsidiaries And Vie Expire Year
PRCSubsidiariesAndVIEExpireYear
As of September 30, 2022 and June 30, 2022, the Company has approximately $13.91 million and $13.91 million of NOL from its HK holding company, PRC subsidiaries and VIEs that expire in calendar years 2021 through 2025.
CY2022Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2021Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2022Q3 us-gaap Effective Income Tax Rate Reconciliation Deductions Other
EffectiveIncomeTaxRateReconciliationDeductionsOther
-0.035 pure
CY2021Q3 us-gaap Effective Income Tax Rate Reconciliation Deductions Other
EffectiveIncomeTaxRateReconciliationDeductionsOther
-0.028 pure
CY2022Q3 dtss Effective Income Tax Rate Reconciliation Prc Statutory Tax Rate Percent
EffectiveIncomeTaxRateReconciliationPrcStatutoryTaxRatePercent
0.032 pure
CY2021Q3 dtss Effective Income Tax Rate Reconciliation Prc Statutory Tax Rate Percent
EffectiveIncomeTaxRateReconciliationPrcStatutoryTaxRatePercent
-0.025 pure
CY2022Q3 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.213 pure
CY2021Q3 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.263 pure
CY2022Q3 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
3309485 usd
CY2022Q2 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
3220526 usd
CY2022Q3 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
123750 usd
CY2022Q2 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
123750 usd
CY2022Q3 dtss Deferred Tax Assets Depreciation And Amortization
DeferredTaxAssetsDepreciationAndAmortization
102088 usd
CY2022Q2 dtss Deferred Tax Assets Depreciation And Amortization
DeferredTaxAssetsDepreciationAndAmortization
82406 usd
CY2022Q3 dtss Deferred Tax Assets Bad Debt Expense
DeferredTaxAssetsBadDebtExpense
134726 usd
CY2022Q2 dtss Deferred Tax Assets Bad Debt Expense
DeferredTaxAssetsBadDebtExpense
142479 usd
CY2022Q3 dtss Social Security And Insurances
SocialSecurityAndInsurances
127437 usd
CY2022Q2 dtss Social Security And Insurances
SocialSecurityAndInsurances
134771 usd
CY2022Q3 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
13998 usd
CY2022Q2 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
14804 usd
CY2022Q3 dtss Deferred Tax Assets Rou
DeferredTaxAssetsROU
-6137 usd
CY2022Q2 dtss Deferred Tax Assets Rou
DeferredTaxAssetsROU
4792 usd
CY2022Q3 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
3805347 usd
CY2022Q2 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
3723528 usd
CY2022Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
3805347 usd
CY2022Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
3723528 usd
CY2019Q3 dtss Lessor Operating Leases Description
LessorOperatingLeasesDescription
The lease has a term of two years with expiration on August 31, 2021, the monthly rent was RMB 14,500 ($2,045), payable every six months in advance.
CY2019Q3 us-gaap Sale Leaseback Transaction Monthly Rental Payments
SaleLeasebackTransactionMonthlyRentalPayments
15200 cny
CY2019Q3 us-gaap Sale Leaseback Transaction Monthly Rental Payments
SaleLeasebackTransactionMonthlyRentalPayments
2350 usd
CY2022Q3 us-gaap Prepaid Rent
PrepaidRent
91200 cny
CY2022Q3 us-gaap Prepaid Rent
PrepaidRent
13355 usd
CY2020Q3 dtss Lessor Operating Leases Description
LessorOperatingLeasesDescription
In August 2020, the Company entered into a lease for an office in Shenzhen City, China for three years from August 8, 2020 through August 7, 2023, with a monthly rent of RMB 209,911 ($29,651) for the first year.
CY2020Q3 dtss Increase In Rent Percentage
IncreaseInRentPercentage
0.03 pure
CY2020Q3 dtss Lessor Operating Leases Description
LessorOperatingLeasesDescription
On August 26, 2020, Tianjin Information entered into a lease for the office in Hangzhou City, China from September 11, 2020 to October 5, 2022.
CY2020Q3 dtss Operating Leases Future Minimum Payment Next Roling Twelve Months
OperatingLeasesFutureMinimumPaymentNextRolingTwelveMonths
1383970 cny
CY2020Q3 dtss Operating Leases Future Minimum Payment Next Roling Twelve Months
OperatingLeasesFutureMinimumPaymentNextRolingTwelveMonths
207000 usd
CY2020Q3 dtss Operating Leases Future Minimum Payment Due In Roling Year Two
OperatingLeasesFutureMinimumPaymentDueInRolingYearTwo
1425909 cny
CY2020Q3 dtss Operating Leases Future Minimum Payment Due In Roling Year Two
OperatingLeasesFutureMinimumPaymentDueInRolingYearTwo
202800 usd
CY2020Q3 dtss Security Deposits
SecurityDeposits
115311 cny
CY2020Q3 dtss Security Deposits
SecurityDeposits
16400 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
327920 usd
CY2022Q3 dtss Lessee Operating Lease Liability Payment Due
LesseeOperatingLeaseLiabilityPaymentDue
327920 usd
CY2022Q3 dtss Less Imputed Interest
LessImputedInterest
7094 usd
CY2022Q3 dtss Present Value Of Lease Liabilities
PresentValueOfLeaseLiabilities
320826 usd
CY2022Q3 us-gaap Subsequent Event Description
SubsequentEventDescription
The Company evaluated subsequent events through the date the financial statements were issued and determined the Company had no major subsequent event need to be disclosed.
CY2022Q3 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2023
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.05
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23355993 shares
CY2021Q3 us-gaap Payments To Acquire Longterm Investments
PaymentsToAcquireLongtermInvestments
usd
CY2022Q3 us-gaap Interest Paid Net
InterestPaidNet
usd
CY2021Q3 us-gaap Income Taxes Paid
IncomeTaxesPaid
usd
CY2021Q3 us-gaap Stock Issued1
StockIssued1
usd
CY2020Q4 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
2000000 usd
CY2022Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
pure
CY2021Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
pure
CY2022Q3 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
usd
CY2022Q2 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
usd
CY2022Q3 dei Amendment Flag
AmendmentFlag
false
CY2022Q3 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--06-30
CY2022Q3 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2022Q3 dei Entity Central Index Key
EntityCentralIndexKey
0001631282

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