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Loan Payable
6 Months Ended
Sep. 30, 2020
Loan Payable [Abstract]  
LOAN PAYABLE

Note 17 – LOAN PAYABLE

 

On August 2, 2019 and December 11, 2019, the Company borrowed $717,810 and $6,460,290 from Haihui Commercial, respectively. After deducting processing fee and deposits which are refundable at the end of loan period, the Company received $617,317 and $5,878,864 respectively. The Company is required to pledge accounts receivable of three drugstores to Haihui Commercial. As of September 30, 2020, the remaining loan balance is $5,465,102. The Company is scheduled to make monthly repayments, among which $2,375,729 is due within a year. The Company has an option to pay off the debts earlier than the repayment schedule upon approval from Haihui Commercial.