XML 24 R6.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities      
Net income (loss) including noncontrolling interest $ (1,483,924) $ (1,459,770) $ 125,304
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities      
Depreciation and amortization 86,406 101,929 19,895
Bad debt expense 922,817
Impairment on investments 74,507
Write off leasehold improvements 745,073
Changes in assets and liabilities      
Increase in accounts receivables (79,466) (139,034) (925,092)
(Increase)/decrease in other receivables and prepayments (121,463) 595,234 (825,169)
(Increase)/decrease in related party receivables (207,505)
Decrease in other current assets 33,042
Increase/(decrease) in accounts payables 58,709 634,212 (33,206)
Increase in taxes payable 819,336
(Decrease)/increase in accrued liabilities and other current liabilities (198,391) 222,331 (18,486)
Net cash (used in)/provided by operating activities (815,311) 774,482 (1,011,881)
Cash flows from investing activities      
Disposal/(acquisitions) of investments 64,139 (4,783,370) (4,825,706)
(Purchase)/disposal of equipment and improvements 7,260 (30,868) (1,447,870)
Decrease in rent and utility deposits 30
Purchase of intangible assets (464)
Net cash (used in)/provided by investing activities 71,399 (4,814,672) (6,273,576)
Cash flows from financing activities      
Proceeds from issuance of ordinary shares 7,731,271
Capital contribution from owners 19,657 145,232
Increase in related party payable 279,031 259,890 27,075
Net cash provided by financing activities 298,688 259,890 7,903,578
Net Increase/(decrease) of Cash and Cash Equivalents (445,224) (3,780,300) 618,121
Effect of foreign currency translation on cash and cash equivalents 422,550 (118,590) 97,008
Cash and cash equivalents - beginning of year 38,600 3,937,490 3,222,361
Cash and cash equivalents - end of year 15,926 38,600 3,937,490
Supplemental cash flow disclosures      
Interest received 586,650 220,698 312,856
Interest paid 133
Income taxes (refund)/paid (40,751) 285,749
NON-CASH FINANCING AND INVESTING ACTIVITIES      
Acquisition of fixed assets through capital lease $ 160,560