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RELATED PARTY TRANSACTIONS
6 Months Ended
Sep. 30, 2018
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

NOTE 7. RELATED PARTY TRANSACTIONS

 

Amount due to related parties

 

Amount due to related parties consisted of the following as of the periods indicated: 

 

    September 30     March 31  
    2018     2018  
      (Unaudited)          
Hao Shuping   $ 59,956     $ 112,690  
Shen Zhenai     6,161       752  
15 shareholders of Lvxin     90,994       458,208  
    $ 157,111     $ 571,650  

 

Hao Shuping is the main shareholder of the Company, and Shen Zhenai is the President, Chairman of the Board, director and shareholder of the Company. These advances represent temporary borrowings for operating costs between the Company and management. They are non-interest bearing and due on demand.

 

As of September 30, 2018, the Company has a balance due to 15 shareholders of Lvxin of $90,994, which was recorded as Due To Related Parties. It represents advances for expenses paid to suppliers by the 15 shareholders. The balance is non-interest bearing and due on demand.

 

As of March 31, 2018, the Company has a balance due to the 15 shareholders of Lvxin of $458,208, which was recorded as Due To Related Parties. This balance was paid off on June 22, 2018, as consideration for the sale of their 51% interest to Tianci Liangtian.