XML 18 R6.htm IDEA: XBRL DOCUMENT v3.21.2
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Mar. 31, 2019
Statement of Cash Flows [Abstract]      
Net income $ 691,956 $ 12,688,035 $ 18,721,979
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 880,879 690,749 699,538
Inventory write-downs   117,753  
Loss (gain) on disposal of equipment   38 (3,155)
Share-based compensation 778,423    
Changes in operating assets and liabilities:      
Accounts receivable (2,106,752) 393,143 (1,601,202)
Other receivables     3,714
Inventories 389,388 (276,909) 148,388
Prepaid expenses and other current assets (8,057,239) 1,525,053 (6,025,735)
Other assets 1,718,110 (4,402,208) (2,257,979)
Accounts payable 6,723,151 (32,722) (3,378,079)
Other payables and accrued liabilities 3,134,093 (559,496) 61,303
Due to related parties (844,718) 966,589  
Income taxes payable (402,825) (332,182) 176,107
Net cash provided by operating activities 2,904,466 10,777,843 6,544,879
Cash Flows from Investing Activities:      
Purchases of property, plant and equipment (2,783,440) (1,159,355) (283,100)
Purchase of intangible assets (1,051,138)    
Purchase of DAJI (75,044)    
Deposits paid for business acquisitions (9,313,225)
Proceeds from disposal of equipment     5,942
Net cash used in investing activities (13,222,847) (1,159,355) (277,158)
Cash Flows from Financing Activities:      
Ordinary shares issued for cash 10,965,553 9,342,339 627,628
Cash contribution from non-controlling shareholders 37,522    
Dividend payment (375,000)    
Proceeds from short-term loans 2,163,037 3,129,711 1,396,382
Repayments of short-term loans (2,118,893) (2,067,332) (1,752,905)
Net cash provided by financing activities 10,672,219 10,404,718 271,105
Effect of exchange rate changes on cash and cash equivalents 2,550,149 (1,169,213) (622,883)
Net increase in cash and cash equivalents 2,903,987 18,853,993 5,915,943
Cash and cash equivalents at the beginning of year 33,654,765 14,800,772 8,884,829
Cash and cash equivalents at the end of year 36,558,752 33,654,765 14,800,772
Supplemental disclosures of cash flows information:      
Cash paid for income taxes 1,209,381 3,176,269 3,007,047
Cash paid for interest expense $ 111,790 $ 98,086 $ 83,549