XML 45 R35.htm IDEA: XBRL DOCUMENT v3.20.2
Summary of Significant Accounting Policies (Tables)
6 Months Ended
Sep. 30, 2020
Accounting Policies [Abstract]  
Schedule of fair values of derivative instruments

(amount in absolute value)  Active Market
for Identical
Assets
(Level 1)
   Observable
Inputs
(Level 2)
   Unobservable
Inputs
(Level 3)
   Total
Carrying
Value
 
Cash, cash equivalents and restricted cash  $35,368,966    -    -   $35,368,966 
Financial assets available for sale   -    -    163,818    163,818 
Trade accounts receivable   9,992,142    -    -    9,992,142 
Notes receivable   73,494    -    -    73,494 
Other receivable   5,225,418    -    -    5,225,418 
Accounts payable   24,904,087    -    -    24,904,087 
Notes payable   -    23,327,972    -    23,327,972 
Other payable   1,888,563    -    -    1,888,563 
Long-term loan payable   -    3,089,373    -    3,089,373 
Employee Deposits   -    -    14,699    14,699 
Warrants liability   -    36,306    -    36,306 
                     
Total  $77,452,670    26,453,651    178,517   $104,084,838 
Schedule of revenue by major source in each segment

For the three months ended September 30  2020   2019 
Retail drugstores
Prescription drugs  $5,982,706   $6,022,934 
OTC drugs   7,617,159    7,463,201 
Nutritional supplements   1,664,265    1,676,974 
TCM   1,054,378    1,954,500 
Sundry products   338,112    290,750 
Medical devices   1,273,876    592,914 
Total retail revenue  $17,930,496   $18,001,273 
Online pharmacy          
Prescription drugs  $1,758,516   $- 
OTC drugs   1,983,034    1,126,655 
Nutritional supplements   208,062    136,513 
TCM   72,349    21,969 
Sundry products   411,494    374,457 
Medical devices   913,557    691,670 
Total online revenue  $5,347,012   $2,351,264 
Drug wholesale          
Prescription drugs  $5,850,267   $6,816,035 
OTC drugs   1,563,344    1,048,542 
Nutritional supplements   27,104    35,048 
TCM   78,333    81,130 
Sundry products   18,760    5,338 
Medical devices   27,229    15,149 
Total wholesale revenue  $7,565,037   $8,001,242 
Total revenue  $30,842,545   $28,353,779 

For the six months ended September 30  2020   2019 
Retail drugstores
Prescription drugs  $13,389,480   $11,718,220 
OTC drugs   14,435,643    14,703,429 
Nutritional supplements   3,012,034    2,908,107 
TCM   2,003,390    3,058,550 
Sundry products   760,663    588,948 
Medical devices   3,139,760    1,759,007 
Total retail revenue  $36,740,970   $34,736,261 
Online pharmacy          
Prescription drugs  $3,628,159   $- 
OTC drugs   3,305,845    2,151,257 
Nutritional supplements   429,093    243,707 
TCM   95,548    35,650 
Sundry products   958,214    813,193 
Medical devices   1,842,987    1,551,062 
Total online revenue  $10,259,846   $4,794,869 
Drug wholesale          
Prescription drugs  $11,816,415   $11,696,526 
OTC drugs   2,478,490    2,122,803 
Nutritional supplements   86,945    56,739 
TCM   107,300    179,958 
Sundry products   21,357    11,020 
Medical devices   385,534    36,387 
Total wholesale revenue  $14,896,041   $14,103,433 
Total revenue  $61,896,857   $53,634,563 

 

 

Schedule of receivables and contract liabilities from contracts with customers

   September 30,
2020
   March 31,
2020
 
Trade receivable (included in accounts receivable, net)  $9,992,142   $9,770,656 
Contract liabilities (included in accrued expenses)   1,546,126    1,106,982 

 

Schedule of cash equivalents and restricted cash

   September 30,
2020
   March 31,
2020
 
Cash and cash equivalents  $21,646,487   $16,176,318 
Restricted cash   13,722,479    14,806,288 
Cash, cash equivalents and restricted cash  $35,368,966   $30,982,606

 

Schedule of estimated useful lives of property and equipment

    Estimated Useful Life
Leasehold improvements   3-10 years
Motor vehicles   3-5 years
Office equipment & furniture   3-5 years
Buildings   35 years

 

Schedule of estimated useful lives of intangible assets
    Estimated
Useful Life
Land use rights   50 years
Software   3 years
License   Infinite