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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Sep. 30, 2022
Sep. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 826,436 $ (8,916,114)
Adjustments to reconcile net (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 13,835 4,028
Share-based compensation   391,625
Allowance for uncollectible loans receivable   5,281,148
Accounts receivable and contract assets (7,915,039) 11,038
Prepayments and other assets (1,300,565) 42,245
Other receivables   4,503,875
Inventories 6,845,177  
Accounts payable, accrued expenses and other current liabilities 209,698 (213,584)
Taxes payable (13,658) (279,606)
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES (1,334,116) 824,655
CASH FLOWS FROM INVESTING ACTIVITIES:    
Cash received from loan repayments 20,000,000 40,705
Payment of equipment purchase   (10,145,281)
Acquisitions of property, equipment   (4,825)
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES 20,000,000 (10,109,401)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from private placement   10,017,200
Amounts due to related parties (27,513,849) (676,935)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES (27,513,849) 9,340,265
EFFECT OF EXCHANGE RATE CHANGE ON CASH (3,086,796) 272,586
NET (DECREASE)INCREASE IN CASH (11,934,761) 328,105
CASH AND CASH EQUIVALENTS - beginning of year 21,925,322 15,128,719
CASH AND CASH EQUIVALENTS - end of year $ 9,990,561 $ 15,456,824