Quarterly report pursuant to Section 13 or 15(d)

Parent Company Financial Information

v3.19.3
Parent Company Financial Information
3 Months Ended
Sep. 30, 2019
Condensed Financial Information Disclosure [Abstract]  
PARENT COMPANY FINANCIAL INFORMATION

Note 13 – Parent COMPANY Financial INFORMATION

 

The following schedules present the balance sheets of Datasea, Inc. (the parent company) as of September 30 and June 30, 2019, and the income statements for the three months ended September 30, 2019 and 2018.

 

    September 30,
2019 (Unaudited)
    June 30,
2019
 
Cash   $ 578,684     $ 6,751,557  
Long term investment     4,500,480       4,500,480  
Other receivable and prepaid expense     20,000       -  
Escrow     600,000       600,000  
Total Assets   $ 5,699,164     $ 5,772,037  
                 
Accrued expenses and other payables   $ 750     $ 750  
Total liabilities     750       750  
                 
Common stock     20,944       20,944  
Additional paid-in capital     5,739,948       5,739,948  
                 
Deficit     (62,478 )     (10,395 )
Total Stockholders' Equity     5,698,414       5,771,287  
                 
Total Liabilities and Stockholders' Equity   $ 5,699,164     $ 5,772,037  

  

    Three Months Ended
September 30,
(Unaudited)
 
    2019     2018  
Revenue   $ -     $         -  
Cost of goods sold     -       -  
Gross profit     -       -  
                 
Selling expenses     -       -  
General and administrative expenses     75,458       -  
Total operating expenses:     75,458       -  
                 
Other income(expense):                
Other (expense)     (165 )        
Interest income     2,750       -  
Total other income     2,585       -  
                 
Net loss   $ (72,873 )   $ -