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CONSOLIDATED STATEMENTS OF CASHFLOWS - USD ($)
12 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Mar. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 65,510,625 $ 8,570,864 $ 3,538,407
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 174,384 92,224 61,392
Deferred tax 415,623 135,641 (366,498)
Share-based compensation 1,828,868    
Accrued interest on loans receivable (525,914)    
Changes in operating assets and liabilities:      
Prepayments and other current assets 3,111,369 (2,456,342) (972,276)
Accrued expenses and other current liabilities 2,464,363 (2,562,903) 1,177,828
Taxes payable 14,743,689 2,170,343 1,534,277
Liabilities from risk reserve fund guarantee   2,287,537 1,872,509
Amounts due to related parties   (47,620) 179,803
NET CASH PROVIDED BY OPERATING ACTIVITIES 87,723,007 8,189,744 7,025,442
CASH FLOWS FROM INVESTING ACTIVITIES:      
Originated loans disbursement to third parties (34,714,361)    
Loans collection from third parties 7,546,600    
Acquisitions of property, equipment and software (456,030) (287,765) (120,461)
NET CASH USED IN INVESTING ACTIVITIES (27,623,791) (287,765) (120,461)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Net proceeds from IPO 43,273,702    
Capital contributions by shareholders   1,487 7,601,048
Capital contributions by NCI 4,507,205    
Purchase of shares from NCI (4,609,830)    
Proceeds from private placement offering   2,000,000  
Amounts due from related parties   (5,945,298) (10,009,630)
Repayments from related parties 4,345,181 8,232,457 2,651,848
NET CASH PROVIDED BY FINANCING ACTIVITIES 47,516,258 4,288,646 243,266
EFFECT OF EXCHANGE RATE CHANGE ON CASH 5,774,718 (777,286) (283,992)
NET INCREASE IN CASH 113,390,192 11,413,339 6,864,255
CASH - beginning of year 19,232,275 7,818,936 954,681
CASH - end of year 132,622,467 19,232,275 $ 7,818,936
SUPPLEMENTAL CASH FLOW DISCLOSURES:      
Cash paid for income tax $ 1,016,958 300,601  
SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITIES:      
Risk reserve liability balance paid to third party insurance company by Hexin Group on behalf of the Company   $ 4,893,590