LOANS RECEIVABLE

12 Months Ended

Mar. 31, 2018

LOANS RECEIVABLE

LOANS RECEIVABLE

Note 4—LOAN RECEIVABLE

	March 31, 2018		March 31, 2017
Loans	$	28,696,234	$	—
Allowance for loan losses	—		—
Loan receivable	$	28,696,234	$	—

During the year ended March 31, 2018, the Company started to engage in microlending business through Wusu Company, a licensed loan provider under the PRC regulations, to individual borrowers in China. The loans are short-term loans with typical loan terms within 12 months period. The interest rate for the loans is 8% per annum. The Company accrued the interest income on a monthly basis as it’s earned. The Company does not charge loan origination fees to those borrowers. All of the loans are credit loans. No secured assets or collateral is required.