Prepaid Expenses and Other Current Assets (Tables)

12 Months Ended

Mar. 31, 2023

Prepaid Expenses and Other Current Assets [Abstract]

Schedule of Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following as of March 31, 2023 and 2022:

	As of March 31,		As of March 31,
	2023		2022
Prepayments to suppliers	$	1,252,094	$	4,177,537
Loans receivables (a)		254,668		727,765
Deposit		-		691,070
Prepayments to technical provider		618,479		669,481
VAT-in		-		560,155
Prepayment to Weilan (b)		-		448,946
Receivable from disposal of subsidiaries		-		408,106
Investment receivables from the investors		2,000,000		-
Other current assets		263,945		226,173
Total	$	4,389,186	$	7,909,233

(a)	Loans receivables to third parties mainly represent loan agreements entered with certain third-party companies to support their daily operation or bridge loan of mortgage with maturity from six to nine months and the interest rate from 0.03% to 0.5% per day.
(b)	In the year ended March 31, 2022, the Company signed a cooperation agreement with a third party to invest in Hangzhou Weilan Automobile Co., Ltd. (“Weilan”) and paid $448,946 to the shareholders of Weilan. In June 2022, both parties agreed to terminate the cooperation agreement and the Company collected the full prepayment.