ORGANIZATION AND PRINCIPAL ACTITIVIES (Tables)

6 Months Ended

Sep. 30, 2020

ORGANIZATION AND PRINCIPAL ACTITIVIES

Schedule of total assets and total liabilities VIEs

Total assets and total liabilities of the Company’s VIEs included in the Company’s unaudited condensed consolidated financial statements as of September 30, 2020 and March 31, 2020 are as follows:

	September 30, 2020		March 31, 2020
	(Unaudited)
Current assets:
Cash and cash equivalents	$	1,386,923	$	247,671
Accounts receivable, net, current portion		370,833		66,768
Prepayments, other receivables and other assets, net		1,500,233		1,500,784
Other receivable- intercompany		—		2,211
Due from related parties		96,075		26,461
Current assets - discontinued operations (1)		1,642,812		1,363,972
Total current assets		4,996,876		3,207,867
Property and equipment, net:
Property and equipment, net		515,210		317,427
Property and equipment, net - discontinued operations		2,386		3,895
Total property and equipment, net		517,596		321,322
Other assets:
Operating lease right-of-use assets, net		291,831		317,258
Operating lease right-of-use assets, net, related parties		11,764		50,213
Financing lease right-of-use assets, net		5,830,280		5,440,362
Accounts receivable, net, noncurrent		483,164		720,916
Total other assets		6,617,039		6,528,749
Total assets	$	12,131,511	$	10,057,938
Current liabilities:
Borrowings from financial institutions	$	594,974	$	226,753
Accounts payable		998		4,018
Advances from customers		28,942		34,374
Income tax payable		16,798		16,106
Accrued expenses and other liabilities		3,069,141		1,632,617
Other payable - intercompany		5,393,363		5,143,463
Due to related parties and affiliates		138,495		152,679
Operating lease liabilities		94,369		78,981
Operating lease liabilities - related parties		4,716		37,378
Financing lease liabilities		4,427,023		3,473,967
Current liabilities - discontinued operations (2)		3,724,728		7,561,603
Total current liabilities		17,493,547		18,361,939
Other liabilities:
Borrowings from financial institutions, noncurrent		57,285		58,572
Operating lease liabilities, noncurrent		197,343		231,825
Operating lease liabilities, noncurrent - related parties		6,101		—
Financing lease liabilities, noncurrent		2,873,083		2,576,094
Total other liabilities		3,133,812		2,866,491
Total liabilities	$	20,627,359	$	21,228,430

(1)Includes intercompany receivables of $ 1,054,744 and $543,446 as of September 30, 2020 and March 31, 2020, respectively.

(2)Includes intercompany payables of $647,571 and $402,406 as of September 30, 2020 and March 31, 2020, respectively.

Schedule of net revenue, income (loss) from operations and net loss of the VIEs

Net revenue, loss from operations and net loss of the VIEs that were included in the Company's unaudited condensed consolidated financial statements for the three months ended and for the six months ended September 30, 2020 and 2019 are as follows:

	For the Three Months Ended				For the Six Months Ended
	September 30,				September 30,
	2020		2019		2020		2019
	(Unaudited)		(Unaudited)		(Unaudited)		(Unaudited)
Net revenue from continuing operations	$	1,112,348	$	852,487	$	1,768,693	$	1,753,610
Net revenue from discontinued operations	$	2,474	$	47,327	$	4,554	$	135,253
Income (loss) from operations from continuing operations	$	(1,172,193)	$	174,054	$	(2,565,862)	$	654,454
Income (loss) from operations from discontinued operations	$	3,904	$	(477,880)	$	(82,454)	$	(795,259)
Net Income (loss) from continuing operations attributable to stockholders	$	(759,699)	$	111	$	(1,939,031)	$	212,967
Net loss from discontinued operations attributable to stockholders		(139,076)		(472,482)		(225,765)		(775,532)
Net loss attributable to stockholders	$	(898,775)	$	(472,371)	$	(2,164,796)	$	(562,565)