Cautionary Note Regarding Forward-Looking Statements
You should be aware that our actual results could differ materially from those contained in the forward-looking statements due to a number of factors, including:
? uncertainties relating to our ability to establish and operate our business and
? uncertainties relating to general economic, political and business conditions
? industry trends and changes in demand for our products and services;
? uncertainties relating to customer plans and commitments and the timing of
? announcements or changes in our advertising model and related pricing policies
or that of our competitors;
? unanticipated delays in the development, market acceptance or installation of
? changes in Chinese government regulations;
? availability, terms and deployment of capital, relationships with third-party
? influences of COVID-19 on China's economy and society.
The vision of Datasea is to become a multinational conglomerate in a decade through the mission of innovating and providing advanced technology to a wide range of business customers.
The recent business developments indicate the Company's progress in general business developments, contracts acquisition, product upgrade, marketing efforts and industry recognition.
Shuhai Beijing and its subsidiaries laid out a series of upgrades in:
1) IoT cloud platform 2.0 upgrade function.
4. Factors that we closely monitor and will be managed in a proactive manner
During the quarter ended March 31, 2022, Shuhai Beijing and its subsidiaries' newly-registered software copyrights and patents were as follows:
Intelligent acoustic warning system V2.0 in healthcare Ruan Zhu Deng Zi environment
Intelligent acoustic warning system for public places Ruan Zhu Deng Zi V2.0
A multi-role login method of Android program based on SQlite database
Please refer to our significant accounting policies in Note 2 to our CFS.
Comparison of the nine months ended March 31, 2022 and 2021
Currently, the overall gross profit margin of the Company is low due to the following reasons:
The 4.0 version of 5G MMCP, which is Integrated 5G IMMCP, has been developed in three phases so far. The development cost paid was $500,000.
5G IMMCP connects with existing client promotion access such as SMS, email, WeChat, applet, APP Push and third-party tools, provides unified messaging and manages aggregated messaging business capabilities.
Comparison of the three months ended March 31, 2022 and 2021
The following table sets forth the results of our operations for the three months ended March 31, 2022 and 2021, respectively, indicated as a percentage of net sales. Certain columns may not add up due to rounding.
Non-operating income was $12,507 for the three months ended March 31, 2022, consisting mainly of interest income of $4,837 and other income of $7,670. For the three months ended March 31, 2021, non-operating expenses of $9,846 is consisted of other expense $9,958, partially offset by interest income of $112.
The following is a summary of cash provided by or used in each of the indicated types of activities during the nine months ended March 31, 2022 and 2021, respectively.
Net cash used in operating activities $ (4,216,488 ) $ (3,061,955 ) Net cash used in investing activities $ (496,744 ) $ (128,988 ) Net cash provided by financing activities $ 6,204,183 $ 1,659,824
Cash Flow from Operating Activities
Cash Flow from Investing Activities
Cash Flow from Financing Activities
Datasea is in the stage of becoming a well-known multinational conglomerate by providing cutting-edge artificial intelligence globally to better build the digital world. To achieve this objective, management of the Company plans to:
? Strengthen the acoustic intelligence business operation in the U.S for design,
innovation, supply chain management, sales, and capitalization in order to
? Develop new products for wider range of application layers, upgrade current
service on 5G messaging business, and promote aggressively for seizing up
? Reinforce comparative advantages especially differentiation strategy by fully
institutions for research & development to adhere in the growth stage of
industry life cycle persistently through driving up demand by supply side
? Sales will be expanded globally and core products will be localized for the
purpose of better meet customers' demand;
? Vertical integration through establishing production lines to take advantage of
? According to the dynamic economic condition, take advantage of different
monetary policy around the world, optimize capital structure for lowering cost
? Create strategic alliance with potential partners to create mutual synergy in
? Enhance brand awareness by marketing and obtain PCT international patents to
? Maintain clients' loyalty by providing outstanding customer service, exclusive
There are no off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues, expenses, results of operations, liquidity, capital expenditures or capital resources.
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