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Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2021
Mar. 31, 2021
Current Assets    
Cash and cash equivalents $ 31,321 $ 13,333,028
Restricted cash 25,947
Accounts receivable, net 3,882,839 4,507,115
Inventories 837,447 859,696
Advance to suppliers 533,895 519,780
Loan receivable and accrued interest 1,581,000 1,581,000
Deferred cost 547,807
Amounts due from related parties 2,978,137
Prepayments, receivables and other current assets 1,816,640 1,859,103
Total Current Assets 11,661,279 23,233,476
Property, plant and equipment, net 1,296,405 1,433,479
Construction in progress 358,569 355,614
Intangible assets, net 42,353 45,800
Long-term deposit 9,311,854 9,157,789
Deferred tax assets, net 321,444
Total Non-current Assets 11,009,181 11,314,126
TOTAL ASSETS 22,670,460 34,547,602
Current Liabilities    
Bank loans – current portion 24,042 37,122
Accounts payable 1,492,578 1,456,445
Refund liabilities 480,227 472,282
Advance from customers 218,644 257,449
Amounts due to related parties 2,117,548 12,148,461
Accrued expenses and other liabilities 3,360,856 3,046,976
Income tax payable 1,184,880 1,161,168
Total Current Liabilities 8,878,775 18,579,903
Bank loans – non-current portion 6,292
Total Non-current Liabilities 6,292
TOTAL LIABILITIES 8,878,775 18,586,195
SHAREHOLDERS’ EQUITY    
Ordinary shares, unlimited shares authorized, $0.004 par value, 16,870,238 shares issued and outstanding as of September 30, 2021 (15,525,094 shares issued and outstanding as of March 31, 2021) 67,438 62,057
Additional paid-in capital 26,009,434 25,323,747
Accumulated deficits (13,044,007) (9,952,183)
Accumulated other comprehensive income 758,820 527,786
Total Shareholders’ Equity 13,791,685 15,961,407
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 22,670,460 $ 34,547,602