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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Sep. 30, 2018
Sep. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 3,701,504 $ 9,180,803
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 653,542 588,324
Stock-based compensation expense 3,399,934 116,578
Income tax paid (175,000) 0
Changes in operating assets:    
Accounts receivable (10,435,721) (10,071,211)
Accounts receivable- related party 50,040 (3,757,365)
Inventories 11,559,013 13,735,903
Prepaid expenses and other current assets 160,848 (22,930)
Advance to suppliers 1,056,316 0
Changes in operating liabilities:    
Accounts payable (3,062,764) (7,916,065)
Accrued expenses (64,450) (3,028)
Other payables 186,427 (140,258)
Income tax payable 1,829,000 0
Net cash provided by operating activities 8,858,689 1,710,751
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property, plant and equipment (716,728) (671,742)
Other receivable - related party 0 336,746
Net cash used in investing activities (716,728) (334,996)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from short-term loan 1,173,825 350,150
Due from shareholders 0 692,500
Net proceeds from private placement 0 1,772,845
Net proceeds from Common stock 8,930,300 0
Warrants issued to the underwriter 30 0
Net cash provided by financing activities 10,104,155 2,815,495
EFFECT OF EXCHANGE RATE CHANGES ON CASH 18,726 5,081
NET INCREASE IN CASH AND RESTRICTED CASH 18,264,842 4,196,331
CASH AND RESTRICTED CASH, BEGINNING OF THE PERIOD 12,196,110 4,132,761
CASH AND RESTRICTED CASH, END OF THE PERIOD 30,460,952 8,329,092
CASH AND RESTRICTED CASH, END OF THE PERIOD 30,460,952 8,329,092
LESS:  NON-CURRENT RESTRICTED CASH 3,681,308 3,476,281
CASH, END OF PERIOD 26,779,644 4,852,811
Non-cash financing activities    
Warrants issued to underwriters in connection with the IPO in fiscal 2019 and the private placement in fiscal 2018 160,732 161,926
Prepaid stock issuance cost netted with proceeds from the IPO in fiscal 2019 and the private placement in fiscal 2018 $ 308,179 $ 239,105