Datasea Inc. (OTCMKTS:DTSS) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.

On August 21, 2017, Datasea Inc., a Nevada corporation (the “Company”), conducted the closing of a private placement transaction to subscription agreements (the “Subscription Agreements”) with a total of 50 investors (the “Investors”), all of whom are non-U.S. persons (as defined in Regulation S (“Regulation S”) promulgated under the Securities Act of 1933, as amended (the “Securities Act”)). The Investors are all individuals residing in the People’s Republic of China.

to the Subscription Agreements, the Company has issued and sold to the Investors, and the Investors have purchased from the Company, an aggregate of 355,500 shares (the “Shares”) of common stock, par value $0.001 per share, of the Company, for a purchase price of $2.35 per share, for total cash proceeds of $835,425. to the Subscription Agreements, the Company has no obligation to register the Shares for resale under the Securities Act.

The description contained herein of the terms of the Subscription Agreements does not purport to be complete and is qualified in its entirety by reference to the Form of Subscription Agreement, a copy of which is filed as Exhibit 10.1 and incorporated by reference herein.

Item 3.02 Unregistered Sale of Equity Securities.

Disclosures made under Item 1.01 of this Current Report on Form 8-K are incorporated herein by reference.

The Shares were offered and sold in reliance upon Regulation S of the Securities Act and are exempt from the registration requirements of the Securities Act. The Shares have not been registered under the Securities Act or any other applicable securities laws and, unless so registered, may not be offered or sold in the United States except to an exemption from the registration requirements of the Securities Act. The Investors have acknowledged that the Shares issued have not been registered under the Securities Act.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

About Datasea Inc. (OTCMKTS:DTSS)

Datasea Inc. is an early-stage company, which is engaged in the business of providing Internet security products, new media advertising, micro-marketing and data analysis services in the People’s Republic of China. Through its end-consumer marketing platform, the Company seeks to offer marketing solutions to businesses. The Company’s products and services can be delineated into five categories: Internet Security Equipment, New Media Advertising Service, Micro Marketing Service, Internet Service Provider (ISP) Connecting Service and Big Data Processing Service. The Company offers Internet security equipment. The Company has developed over three types of indoor equipment designed for facilities of different sizes and one type of outdoor equipment primarily for use by local branches of the Ministry of Public Security of People’s Republic of China. The Company has developed an electronic platform, Xin Platform. The Company had not generated any revenue.