2023 Q3 Form 10-K Financial Statement

#000121390023079920 Filed on September 27, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2023
Revenue $6.881M $3.670M $7.045M
YoY Change 490.97% 366.47% -58.75%
Cost Of Revenue $6.806M $3.630M $6.704M
YoY Change 571.13% 397.68% -58.42%
Gross Profit $74.74K $40.00K $340.9K
YoY Change -50.24% -30.28% -64.33%
Gross Profit Margin 1.09% 1.09% 4.84%
Selling, General & Admin $777.5K $5.380M $9.105M
YoY Change -42.13% 130.89% 31.33%
% of Gross Profit 1040.35% 13450.0% 2670.67%
Research & Development $155.0K $200.0K $921.0K
YoY Change -41.14% -31.35% -26.89%
% of Gross Profit 207.4% 500.0% 270.15%
Depreciation & Amortization $137.9K $170.0K $701.4K
YoY Change 237.42% 3.0% 327.32%
% of Gross Profit 184.48% 425.0% 205.74%
Operating Expenses $932.5K $5.580M $10.03M
YoY Change -41.97% 112.86% 22.38%
Operating Profit -$857.8K -$5.540M -$9.685M
YoY Change -41.11% 116.06% 33.82%
Interest Expense $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
% of Operating Profit
Other Income/Expense, Net -$7.758K -$10.00K -$12.80K
YoY Change -134.17% -116.09% -110.19%
Pretax Income -$865.5K -$5.560M -$9.698M
YoY Change -39.64% 123.37% 36.37%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$22.06K -$5.560M -$9.480M
YoY Change -98.35% 161.55% 45.36%
Net Earnings / Revenue -0.32% -151.5% -134.55%
Basic Earnings Per Share -$0.01 -$0.38
Diluted Earnings Per Share $0.00 -$0.21 -$0.38
COMMON SHARES
Basic Shares Outstanding 32.78M shares 25.60M shares 24.95M shares
Diluted Shares Outstanding 29.45M shares 24.95M shares

Balance Sheet

Concept 2023 Q3 2023 Q2 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.260M $40.00K $40.00K
YoY Change 260.94% -90.47% -90.47%
Cash & Equivalents $1.219M $19.73K
Short-Term Investments $50.00K $20.00K $20.00K
Other Short-Term Assets $6.380M $750.0K $750.0K
YoY Change 12966.81% 1777.68% 104.64%
Inventory $242.8K $241.4K $240.0K
Prepaid Expenses $563.2K
Receivables $22.16K $255.7K $260.0K
Other Receivables $463.8K $460.9K $0.00
Total Short-Term Assets $7.912M $1.290M $1.290M
YoY Change 708.13% 2.6% 2.64%
LONG-TERM ASSETS
Property, Plant & Equipment $67.70K $85.93K $220.0K
YoY Change -51.17% -54.25% -69.02%
Goodwill
YoY Change
Intangibles $715.1K $1.186M
YoY Change -31.92%
Long-Term Investments $60.00K $60.00K $60.00K
YoY Change 6.5% 27.71% 27.71%
Other Assets
YoY Change
Total Long-Term Assets $904.3K $1.465M $1.460M
YoY Change -57.2% -41.38% -41.57%
TOTAL ASSETS
Total Short-Term Assets $7.912M $1.290M $1.290M
Total Long-Term Assets $904.3K $1.465M $1.460M
Total Assets $8.816M $2.754M $2.750M
YoY Change 185.12% -26.66% -26.78%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $296.2K $1.005M $1.010M
YoY Change -73.35% 1.02% 411.21%
Accrued Expenses $490.0K $1.230M $1.230M
YoY Change 65.1% 522.55% -5.79%
Deferred Revenue $473.1K $609.2K
YoY Change
Short-Term Debt $496.0K $594.9K $590.0K
YoY Change -42.76% 625.94% 619.95%
Long-Term Debt Due $2.030M $0.00 $0.00
YoY Change
Total Short-Term Liabilities $4.470M $4.907M $4.910M
YoY Change 59.55% 130.94% 131.1%
LONG-TERM LIABILITIES
Long-Term Debt $20.00K $1.400M $1.400M
YoY Change
Other Long-Term Liabilities $17.91K $23.31K $30.00K
YoY Change -25.92% -4.67%
Total Long-Term Liabilities $38.34K $1.428M $1.430M
YoY Change 4437.56% 4444.01%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.470M $4.907M $4.910M
Total Long-Term Liabilities $38.34K $1.428M $1.430M
Total Liabilities $4.508M $6.335M $6.270M
YoY Change 60.92% 193.8% 381.65%
SHAREHOLDERS EQUITY
Retained Earnings -$28.09M -$28.06M
YoY Change 40.98% 51.01%
Common Stock $32.23M $24.15M
YoY Change 132406.24% 99183.69%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.379M -$3.519M -$3.520M
YoY Change
Total Liabilities & Shareholders Equity $8.816M $2.754M $2.750M
YoY Change 185.12% -26.66% -26.78%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2023
OPERATING ACTIVITIES
Net Income -$22.06K -$5.560M -$9.480M
YoY Change -98.35% 161.55% 45.36%
Depreciation, Depletion And Amortization $137.9K $170.0K $701.4K
YoY Change 237.42% 3.0% 327.32%
Cash From Operating Activities -$6.744M -$810.0K -$3.136M
YoY Change 796.03% -12.26% -38.98%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $80.00K $80.00K
YoY Change -100.0% -111.97% -107.26%
Acquisitions $35.00
YoY Change
Other Investing Activities $0.00 $0.00 -$30.00K
YoY Change -100.0% -100.0% -3.13%
Cash From Investing Activities -$365.00 -$80.00K -$113.1K
YoY Change -99.65% -87.43% -90.02%
FINANCING ACTIVITIES
Cash Dividend Paid $714.3K
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $8.080M 870.0K $3.109M
YoY Change 922.45% 396.8% -51.26%
NET CHANGE
Cash From Operating Activities -$6.744M -810.0K -$3.136M
Cash From Investing Activities -$365.00 -80.00K -$113.1K
Cash From Financing Activities $8.080M 870.0K $3.109M
Net Change In Cash $1.199M -20.00K -$144.5K
YoY Change -1785.37% -98.56% -226.15%
FREE CASH FLOW
Cash From Operating Activities -$6.744M -$810.0K -$3.136M
Capital Expenditures $0.00 $80.00K $80.00K
Free Cash Flow -$6.744M -$890.0K -$3.216M
YoY Change 893.09% 248.91% -20.34%

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CY2022 dtss Increase Decrease In Valueadded Tax Prepayment
IncreaseDecreaseInValueaddedTaxPrepayment
-123313 usd
CY2023 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
141545 usd
CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
224285 usd
CY2023 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
839735 usd
CY2022 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
26236 usd
CY2023 dtss Increase Decrease In Unearned Revenue
IncreaseDecreaseInUnearnedRevenue
353849 usd
CY2022 dtss Increase Decrease In Unearned Revenue
IncreaseDecreaseInUnearnedRevenue
111689 usd
CY2022 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-46461 usd
CY2023 us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
523534 usd
CY2022 us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
741328 usd
CY2023 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-575156 usd
CY2022 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-836143 usd
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-3136081 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-5139712 usd
CY2023 us-gaap Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
3881 usd
CY2022 us-gaap Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
51340 usd
CY2023 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
80438 usd
CY2022 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
1051111 usd
CY2023 us-gaap Payments To Acquire Longterm Investments
PaymentsToAcquireLongtermInvestments
28812 usd
CY2022 us-gaap Payments To Acquire Longterm Investments
PaymentsToAcquireLongtermInvestments
30973 usd
CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-113131 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1133424 usd
CY2023 dtss Proceed From Due To Related Parties
ProceedFromDueToRelatedParties
1110238 usd
CY2022 dtss Proceed From Due To Related Parties
ProceedFromDueToRelatedParties
37042 usd
CY2023 dtss Proceeds From Loan Payables
ProceedsFromLoanPayables
2197400 usd
CY2023 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
198431 usd
CY2022 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
1402336 usd
CY2022 us-gaap Proceeds From Contributed Capital
ProceedsFromContributedCapital
62802 usd
CY2022 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
7681796 usd
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
3109207 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
6379304 usd
CY2023 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-4484 usd
CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
8373 usd
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-144489 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
114541 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
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
19728 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
164217 usd
CY2023 us-gaap Interest Paid Net
InterestPaidNet
25501 usd
CY2023 dtss Right Of Use Assets Obtained In Exchange For Operating Lease Liabilities
RightOfUseAssetsObtainedInExchangeForOperatingLeaseLiabilities
241093 usd
CY2022 dtss Transfer Of Prepaid Software Development Expenditure To Intangible Assets
TransferOfPrepaidSoftwareDevelopmentExpenditureToIntangibleAssets
50000 usd
CY2022 us-gaap Stock Issued1
StockIssued1
259023 usd
CY2015Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
18333333 shares
CY2015Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
15000000 shares
CY2023Q1 us-gaap Cost Maintenance
CostMaintenance
130434 usd
CY2023Q1 us-gaap Cost Maintenance
CostMaintenance
900000 cny
CY2022Q1 us-gaap Noncash Or Part Noncash Acquisition Interest Acquired1
NoncashOrPartNoncashAcquisitionInterestAcquired1
0.30 pure
CY2022Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-26993 usd
CY2023 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
9480000 usd
CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
6520000 usd
CY2023Q2 us-gaap Retained Earnings Appropriated
RetainedEarningsAppropriated
28060000.00 usd
CY2023 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
3140000 usd
CY2022 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
5140000 usd
CY2023Q3 us-gaap Amount Of Regulatory Assistance Received1
AmountOfRegulatoryAssistanceReceived1
1600000 usd
CY2023 dtss Agreement Term
AgreementTerm
P10Y
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b>USE OF ESTIMATES </b></span></p><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">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>
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0 usd
CY2022Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0 usd
CY2023Q1 us-gaap Foreign Financial Institutions Actual Deposits
ForeignFinancialInstitutionsActualDeposits
809 usd
CY2021Q3 dtss Aggregate Of Shares
AggregateOfShares
2436904 shares
CY2023 us-gaap Stock Issued During Period Shares Purchase Of Assets
StockIssuedDuringPeriodSharesPurchaseOfAssets
1096608 shares
CY2023 us-gaap Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
8480426 usd
CY2023Q2 us-gaap Inventory Gross
InventoryGross
52915 usd
CY2022Q2 us-gaap Inventory Gross
InventoryGross
56971 usd
CY2023Q2 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P3Y
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
413677 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
577951 usd
CY2023 us-gaap Stock Issued1
StockIssued1
usd
CY2023 us-gaap Revenue Recognition Deferred Revenue
RevenueRecognitionDeferredRevenue
<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0 0pt 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b>UNEARNED REVENUE</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">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 <span style="background-color: white">the Company </span> will recognize it as revenue when the products are delivered to the end customers. </span></p>
CY2023 us-gaap Revenues
Revenues
7045311 usd
CY2022 us-gaap Revenues
Revenues
17080911 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
0 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
0 usd
us-gaap Effective Income Tax Rate Reconciliation Deductions
EffectiveIncomeTaxRateReconciliationDeductions
0.50 pure
CY2020Q4 dtss Ownership Noncontrolling Interests
OwnershipNoncontrollingInterests
0.30 pure
CY2020Q4 us-gaap Investment Unrestricted Purchase Price Date Per Unit
InvestmentUnrestrictedPurchasePriceDatePerUnit
0.15
CY2020Q4 us-gaap Investment Unrestricted Purchase Price Date Per Unit
InvestmentUnrestrictedPurchasePriceDatePerUnit
1
CY2020Q4 us-gaap Stockholders Equity Before Treasury Stock
StockholdersEquityBeforeTreasuryStock
982014 usd
CY2020Q4 dtss Ownership Percenatge
OwnershipPercenatge
0.999 pure
CY2023 us-gaap Income Loss Attributable To Noncontrolling Interest
IncomeLossAttributableToNoncontrollingInterest
218323 usd
CY2022 us-gaap Income Loss Attributable To Noncontrolling Interest
IncomeLossAttributableToNoncontrollingInterest
589974 usd
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b>CONCENTRATION OF CREDIT RISK </b></span></p><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">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 $17,432 and $153,607 as of June 30, 2023 and 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; text-align: justify; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">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 June 30, 2023, cash of $1,487 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 June 30, 2023, the cash balance of $809 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>
CY2023Q2 us-gaap Cash And Due From Banks
CashAndDueFromBanks
500000 cny
CY2023Q2 us-gaap Cash And Due From Banks
CashAndDueFromBanks
76000 usd
us-gaap Dividends Cash
DividendsCash
17432 usd
CY2022 us-gaap Dividends Cash
DividendsCash
153607 usd
us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
250000 usd
CY2023Q1 us-gaap Investments And Cash
InvestmentsAndCash
1487 usd
CY2023Q1 dtss Deposit Protection
DepositProtection
500000 hkd
CY2023Q1 dtss Deposit Protection
DepositProtection
64000 usd
CY2023Q2 us-gaap Class Of Warrant Or Right Unissued
ClassOfWarrantOrRightUnissued
1319953 shares
CY2022Q1 us-gaap Class Of Warrant Or Right Unissued
ClassOfWarrantOrRightUnissued
1319953 shares
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
0 usd
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P2Y6M
CY2023 dtss Share Based Goods And Nonemployee Service Transaction Valuation Method Expected Volatility Rate
ShareBasedGoodsAndNonemployeeServiceTransactionValuationMethodExpectedVolatilityRate
1.50 pure
CY2023Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
563088 usd
CY2022Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
625425 usd
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
477158 usd
CY2022Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
437594 usd
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
85930 usd
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
187831 usd
CY2023 us-gaap Depreciation
Depreciation
93594 usd
CY2022 us-gaap Depreciation
Depreciation
164145 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
2299458 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
2265275 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1110671 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
523484 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1185787 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1741791 usd
CY2023 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
607836 usd
CY2023Q2 us-gaap Security Deposit
SecurityDeposit
15615 usd
CY2022Q2 us-gaap Security Deposit
SecurityDeposit
255325 usd
CY2023Q2 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
563203 usd
CY2022Q2 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
230745 usd
CY2023Q2 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
460850 usd
CY2022Q2 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
548321 usd
CY2023Q2 dtss Advance To Third Party Individuals No Interest Payable Upon Demand
AdvanceToThirdPartyIndividualsNoInterestPayableUponDemand
11764 usd
CY2022Q2 dtss Advance To Third Party Individuals No Interest Payable Upon Demand
AdvanceToThirdPartyIndividualsNoInterestPayableUponDemand
49299 usd
CY2023Q2 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
110841 usd
CY2022Q2 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
39943 usd
CY2023Q2 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
1162273 usd
CY2022Q2 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
1190683 usd
CY2023Q2 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
460850 usd
CY2022Q2 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
548321 usd
CY2023Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
701423 usd
CY2022Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
575312 usd
CY2023 dtss Cooperation Agreement Description
CooperationAgreementDescription
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.
CY2020Q3 us-gaap Debt Instrument Unused Borrowing Capacity Amount
DebtInstrumentUnusedBorrowingCapacityAmount
10000000 cny
CY2020Q3 us-gaap Debt Instrument Unused Borrowing Capacity Amount
DebtInstrumentUnusedBorrowingCapacityAmount
1410000 usd
CY2023Q1 us-gaap Interest Receivable And Other Assets
InterestReceivableAndOtherAssets
3530000 cny
CY2023Q1 us-gaap Interest Receivable And Other Assets
InterestReceivableAndOtherAssets
513701 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
CY2022Q4 us-gaap Debt Securities Held To Maturity Transfer Amount
DebtSecuritiesHeldToMaturityTransferAmount
1543400 cny
CY2022Q4 us-gaap Debt Securities Held To Maturity Transfer Amount
DebtSecuritiesHeldToMaturityTransferAmount
213596 usd
CY2023Q2 us-gaap Convertible Debt Current
ConvertibleDebtCurrent
48438 usd
CY2022Q2 us-gaap Convertible Debt Current
ConvertibleDebtCurrent
0 usd
CY2023 us-gaap Allowance For Loan And Lease Loss Recovery Of Bad Debts
AllowanceForLoanAndLeaseLossRecoveryOfBadDebts
460850 usd
CY2022 us-gaap Allowance For Loan And Lease Loss Recovery Of Bad Debts
AllowanceForLoanAndLeaseLossRecoveryOfBadDebts
548321 usd
CY2023Q2 us-gaap Loans Payable To Bank
LoansPayableToBank
435118 usd
CY2023 us-gaap Interest Expense Debt
InterestExpenseDebt
1575 usd
CY2023Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
413795 usd
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0037 pure
CY2023 dtss Share Based Goods And Nonemployee Service Transaction Valuation Method Expected Dividend Rate
ShareBasedGoodsAndNonemployeeServiceTransactionValuationMethodExpectedDividendRate
0 pure
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
CY2022Q2 us-gaap Other Long Term Investments
OtherLongTermInvestments
29800 usd
CY2022Q3 dtss Invested Stock Ownership
InvestedStockOwnership
200000 cny
CY2022Q3 dtss Invested Stock Ownership
InvestedStockOwnership
-28717 usd
CY2022Q3 us-gaap Availableforsale Securities In Unrealized Loss Positions Qualitative Disclosure Other Percentage Of Nonperforming Assets
AvailableforsaleSecuritiesInUnrealizedLossPositionsQualitativeDisclosureOtherPercentageOfNonperformingAssets
0.01 pure
CY2023Q2 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
308841 usd
CY2022Q2 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
147269 usd
CY2023Q2 dtss Due To Third Parties
DueToThirdParties
175354 usd
CY2022Q2 dtss Due To Third Parties
DueToThirdParties
117531 usd
CY2023Q2 dtss Social Security Payable
SocialSecurityPayable
537964 usd
CY2022Q2 dtss Social Security Payable
SocialSecurityPayable
425700 usd
CY2023Q2 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
387780 usd
CY2022Q2 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
304384 usd
CY2023Q2 us-gaap Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
1409939 usd
CY2022Q2 us-gaap Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
994884 usd
CY2023Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
23312 usd
CY2023 us-gaap Repayments Of Debt
RepaymentsOfDebt
1372 usd
CY2023Q2 us-gaap Loans Payable To Bank
LoansPayableToBank
2990000 cny
CY2023Q2 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
744577 usd
CY2023Q2 us-gaap Loans Payable To Bank Current
LoansPayableToBankCurrent
594906 usd
CY2023Q2 us-gaap Long Term Loans From Bank
LongTermLoansFromBank
91215 usd
CY2022Q2 us-gaap Loans Payable
LoansPayable
596001 usd
CY2022Q2 us-gaap Repayments Of Other Short Term Debt
RepaymentsOfOtherShortTermDebt
447001 usd
CY2022Q3 us-gaap Loans Payable
LoansPayable
5603000 cny
CY2022Q3 us-gaap Loans Payable
LoansPayable
789177 usd
CY2022Q4 us-gaap Loans Payable
LoansPayable
3970000 cny
CY2022Q4 us-gaap Loans Payable
LoansPayable
642779 usd
CY2023Q2 us-gaap Other Receivables
OtherReceivables
0 usd
CY2022Q2 us-gaap Other Receivables
OtherReceivables
67050 usd
CY2023Q2 us-gaap Certain Loans Acquired In Transfer Accounted For As Debt Securities Outstanding Balance
CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesOutstandingBalance
1310306 usd
CY2022Q2 us-gaap Certain Loans Acquired In Transfer Accounted For As Debt Securities Outstanding Balance
CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesOutstandingBalance
81950 usd
CY2022Q2 us-gaap Payments For Rent
PaymentsForRent
235710 cny
CY2022Q2 us-gaap Payments For Rent
PaymentsForRent
35120 usd
CY2023Q2 us-gaap Payments For Rent
PaymentsForRent
282852 cny
CY2023Q2 us-gaap Payments For Rent
PaymentsForRent
39144 usd
CY2021Q3 us-gaap Payments For Rent
PaymentsForRent
33400 usd
CY2022Q3 us-gaap Payments For Rent
PaymentsForRent
91200 cny
CY2022Q3 us-gaap Payments For Rent
PaymentsForRent
13355 usd
CY2023Q1 us-gaap Payments For Rent
PaymentsForRent
91200 cny
CY2023Q1 us-gaap Payments For Rent
PaymentsForRent
12621 usd
CY2023 dtss Rental Expenses Amount
RentalExpensesAmount
25243 usd
CY2022 dtss Rental Expenses Amount
RentalExpensesAmount
23540 usd
CY2023Q2 dtss Due To Related Parties Other
DueToRelatedPartiesOther
1162856 usd
CY2022Q2 dtss Due To Related Parties Other
DueToRelatedPartiesOther
102331 usd
CY2023 us-gaap Stock And Warrants Issued During Period Value Preferred Stock And Warrants
StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants
1986880 usd
CY2023 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 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.
CY2023 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 years ended June 30, 2023 and 2022, the Company recorded $384,525 and $607,500 stock compensation expense to the Company’s CEO and one of the board members for the quarter.
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CY2023 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.
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CY2023 dtss Lessor Operating Leases Description
LessorOperatingLeasesDescription
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
CY2023Q2 dtss Increase In Rent Percentage
IncreaseInRentPercentage
0.03 pure
CY2023 dtss Operating Lease
OperatingLease
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.
CY2023 dtss Operating Leases Future Minimum Payment Next Roling Twelve Months
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CY2023Q1 us-gaap Prepaid Rent
PrepaidRent
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CY2023Q1 us-gaap Prepaid Rent
PrepaidRent
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CY2023Q2 dtss Security Deposits
SecurityDeposits
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CY2023Q2 dtss Security Deposits
SecurityDeposits
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CY2023 us-gaap Operating Lease Expense
OperatingLeaseExpense
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CY2022 us-gaap Operating Lease Expense
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CY2023Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
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CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
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OperatingLeaseWeightedAverageRemainingLeaseTerm1
P0Y8M23D
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OperatingLeaseWeightedAverageDiscountRatePercent
0.0625 pure
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OperatingLeaseWeightedAverageDiscountRatePercent
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CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Rolling Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextRollingTwelveMonths
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CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Two
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearTwo
27119 usd
CY2023Q2 dtss Lessee Operating Lease Liability Payment Due
LesseeOperatingLeaseLiabilityPaymentDue
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CY2023Q2 dtss Less Imputed Interest
LessImputedInterest
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CY2023Q2 dtss Present Value Of Lease Liabilities
PresentValueOfLeaseLiabilities
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CY2023Q2 us-gaap Disposal Group Including Discontinued Operation Cash And Cash Equivalents
DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents
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CY2023Q2 us-gaap Disposal Group Including Discontinued Operation Accounts Notes And Loans Receivable Net
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CY2023Q2 us-gaap Disposal Group Including Discontinued Operation Other Current Assets
DisposalGroupIncludingDiscontinuedOperationOtherCurrentAssets
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AssetsOfDisposalGroupIncludingDiscontinuedOperation
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CY2023Q2 us-gaap Notes Payable
NotesPayable
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CY2023Q2 us-gaap Liabilities Of Disposal Group Including Discontinued Operation
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation
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CY2023 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
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CY2023Q3 dtss Received Net Proceeds
ReceivedNetProceeds
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CY2023Q2 dtss Additional Share Of Common Stock
AdditionalShareOfCommonStock
750000 shares
CY2022Q2 us-gaap Short Term Borrowings
ShortTermBorrowings
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LoansPayableCurrent
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CY2022Q2 us-gaap Long Term Loans Payable
LongTermLoansPayable
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CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2023 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
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CY2022 dtss Proceeds From Loan Payables
ProceedsFromLoanPayables
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CY2023 us-gaap Proceeds From Contributed Capital
ProceedsFromContributedCapital
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CY2023 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
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CY2022 us-gaap Interest Paid Net
InterestPaidNet
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CY2023 us-gaap Income Taxes Paid
IncomeTaxesPaid
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CY2022 us-gaap Income Taxes Paid
IncomeTaxesPaid
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CY2022 dtss Right Of Use Assets Obtained In Exchange For Operating Lease Liabilities
RightOfUseAssetsObtainedInExchangeForOperatingLeaseLiabilities
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CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
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CY2023 us-gaap Repayments Of Other Short Term Debt
RepaymentsOfOtherShortTermDebt
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CY2023 us-gaap Effective Income Tax Rate Continuing Operations
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CY2022 us-gaap Effective Income Tax Rate Continuing Operations
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CY2023 us-gaap Current Income Tax Expense Benefit
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CY2022 us-gaap Current Income Tax Expense Benefit
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CY2023 dei Amendment Flag
AmendmentFlag
false
CY2023 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
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CY2023 dei Entity Central Index Key
EntityCentralIndexKey
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