Related-Party Transactions

3 Months Ended

Jun. 30, 2020

Related Party Transactions [Abstract]

Related-Party Transactions

17. Related-Party Transactions

Management Fees, Advertising Fees and Sale of Non-Perishable and Perishable Products to Related Parties

The following is a detailed breakdown of significant management fees, advertising fees and sale of products for the three months ended June 30, 2020 and 2019 to related parties, which are directly or indirectly owned, in whole or in part, by Mr. Long Deng, a majority shareholder, and not eliminated in the consolidated financial statements. In addition, the outstanding receivables due from these related parties as of June 30, 2020 and March 31, 2020 were included in advances and receivables – related parties (see Note 8).  

Three months ended June 30, 2020
Related Parties	Management Fees		Advertising Fees		Non-Perishable & Perishable Sales
Tampa Seafood	$	2,000	$	-	$	-
NY Mart MD Inc.		16,750		-		167,003
NYM Elmhurst Inc.		6,000		-		98,318
Spring Farm Inc.		2,750		-		293
	$	27,500	$	-	$	265,614

Three months ended June 30, 2019
Related Parties	Management Fees		Advertising Fees		Non-Perishable & Perishable Sales
Dragon Seeds Inc.		1,650		-		-
NY Mart MD Inc.		29,300		3,680		455,377
NYM Elmhurst Inc.		24,612		2,210		279,004
Spring Farm Inc.		3,300		-		-
Pine Court Chinese Bistro		-		-		8,726
	$	58,862	$	5,890	$	743,107

Long-Term Operating Lease Agreement with a Related Party

The Company leases warehouse and stores from related parties that is owned by Mr. Long Deng, the majority shareholder of the Company, and will expire on April 30, 2026. Rent incurred to the related party was $201,830 and $292,460 for the three months ended on June 30, 2020 and 2019.