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UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Sep. 30, 2022
Mar. 31, 2022
CURRENT ASSETS:    
Cash and cash equivalents $ 9,990,561 $ 21,925,322
Accounts receivable, net 7,928,584 15,247
Loans receivable, net - current 0 0
Prepayments and other assets 2,052,286 887,960
Inventories 899,555 7,795,822
Other receivable - current   20,000,000
TOTAL CURRENT ASSETS 20,870,986 50,624,351
Property and equipment, net 36,308 55,433
TOTAL ASSETS 20,907,294 50,679,784
CURRENT LIABILITIES:    
Accrued expenses and other current liabilities 1,182,378 1,069,049
Taxes payable 108,711 125,153
Amount due to related parties 9,686,151 37,200,000
TOTAL CURRENT LIABILITIES 10,977,240 38,394,202
TOTAL LIABILITIES 10,977,240 38,394,202
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS' EQUITY:    
Ordinary share ($0.0001 par value, 500,000,000 shares authorized, 69,763,933 and 69,763,933 shares issued, 68,598,050 and 68,598,050 shares outstanding as of September 30, 2022 and March 31, 2022, respectively) 6,977 6,977
Additional paid-in capital 71,021,898 71,021,898
Treasury stock (1,165,883 shares as of September 30, 2022 and March 31, 2022, respectively) (3,988,370) (3,988,370)
Deficit (52,297,338) (53,107,676)
Accumulated other comprehensive loss (4,830,322) (1,649,223)
TOTAL SHAREHOLDERS' EQUITY 9,912,845 12,283,606
Non-controlling interest 17,209 1,976
TOTAL EQUITY 9,930,054 12,285,582
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 20,907,294 $ 50,679,784