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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended
Jun. 30, 2019
Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income /(loss) $ 1,549,488 $ (885,249)
Adjustments to reconcile net income / (loss) to net cash used in operating activities:    
Depreciation and amortization 338,652 319,310
Shared-based compensation expense 0 3,205,980
Changes in operating assets:    
Accounts receivable (9,383,142) (7,986,340)
Accounts receivable- related party 0 50,026
Inventories 602,719 295,875
Prepaid expenses and other current assets (285,165) 78,141
Advance to suppliers (1,345,913) (1,839,199)
Operating leases- right of use assets 110,546 0
Changes in operating liabilities:    
Accounts payable (913,522) (3,642,986)
Accrued expenses 274,333 (428,783)
Other payables 367,959 355,199
Operating lease liabilities (50,012) 0
Income tax payable 335,000 366,000
Net cash used in operating activities (8,399,057) (10,112,026)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property, plant and equipment (1,374,139) (481,807)
Net cash used in investing activities (1,374,139) (481,807)
CASH FLOWS FROM FINANCING ACTIVITIES    
Dividend distribution (566,250) 0
(Repayment) Proceeds from short-term loan (580,447) 6,075,835
Net proceeds from Common stock 0 8,930,300
Warrants issued to the underwriter 0 30
Net cash (used in)/ provided by financing activities (1,146,697) 15,006,165
EFFECT OF EXCHANGE RATE CHANGES ON CASH 4,295 (6,176)
NET (DECREASE)/ INCREASE IN CASH AND RESTRICTED CASH (10,915,598) 4,406,156
CASH AND RESTRICTED CASH, BEGINNING OF THE PERIOD 27,834,468 12,196,110
CASH AND RESTRICTED CASH, END OF THE PERIOD 16,918,870 16,602,266
CASH AND RESTRICTED CASH, END OF THE PERIOD 27,834,468 12,196,110
LESS: NON-CURRENT RESTRICTED CASH 796,876 3,672,891
CASH, END OF PERIOD 16,121,994 12,929,375
Supplemental disclosure information:    
Cash paid for interest 5,186 42,541
Non-cash financing activities    
Warrants issued to underwriters in connection with the IPO 0 160,732
Prepaid stock issuance cost netted with proceeds from the IPO 0 308,179
Right-of-use assets obtained in exchange for operating lease obligations $ 1,292,416 $ 0