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Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2020
Mar. 31, 2020
Current assets:    
Cash and cash equivalents $ 4,426,836 $ 751,942
Accounts receivable, net 3,380,237 3,405,341
Advances to vendor 1,022,607
Inventories, net 10,878,423 6,185,102
Prepaid expenses and other current assets 4,664,638 3,691,990
Total current assets 24,372,741 14,034,375
Advances and receivables - related parties 5,862,432 5,060,370
Property and equipment, net 24,261,728 19,769,152
Intangible assets, net 4,295,029 900,005
Security deposits 1,264,352 1,264,353
Right of use assets-lease 58,408,630 57,587,790
Deferred income taxes 643,116 643,116
Goodwill 2,240,798
Total assets 121,348,826 99,259,161
Current liabilities:    
Accounts payable 8,996,800 10,674,455
Deferred revenue 2,786,642 1,311,228
Borrowings against lines of credit, current,net 20,141,297 20,141,297
Notes payable, current 76,068 77,903
Finance lease obligations, current 133,733 137,243
Accrued expenses 1,679,214 1,307,069
Operating lease liabilities, current 5,441,020 5,438,356
Other payables, current 4,225,834 3,584,756
Total current liabilities 43,480,608 42,672,307
Notes payable, non-current 29,550 46,706
Finance lease obligations, non-current 245,314 277,350
PPP Loans from government 1,768,212  
Other payables, non-current 83,102 83,102
Deferred tax liability 1,083,763
Long term operating lease liabilities 59,546,344 58,729,843
Total liabilities 106,236,893 101,809,308
Commitments and contingencies
Equity (deficiency)    
Common stock, $0.0001 par value; 100,000,000 shares authorized, 25,194,086 and 18,658,547 shares issued and outstanding as of June 30, 2020 and March 31, respectively 3,945 1,866
Additional paid-in capital 26,754,480 18,202,323
Accumulated deficit (20,650,949) (24,254,336)
Accumulated other comprehensive income 21,560
Total stockholders’ equity (deficiency) attributable to iFresh 14,537,575 (2,550,147)
Noncontrolling interest 574,358
Total equity (deficiency) 15,111,933 (2,550,147)
Total liabilities and equity (deficiency) 121,348,826 99,259,161
Series A Preferred shares    
Equity (deficiency)    
Preferred stock value 3,500,000 3,500,000
Series B Preferred shares    
Equity (deficiency)    
Preferred stock value $ 4,908,539