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SEGMENTS

12 Months Ended

Mar. 31, 2022

SEGMENT REPORTING

SEGMENT REPORTING

Note 25 – SEGMENTS

ASC 280, “Segment Reporting”, establishes standards for reporting information about operating segments on a basis consistent with the Company’s internal organizational structure as well as information about geographical areas, business segments and major customers in financial statements for detailing the Company’s business segments.

The Company’s chief operating decision maker is the Chief Executive Officer, who reviews the financial information of the separate operating segments when making decisions about allocating resources and assessing the performance of the group. Effective from March 2022, the Company has determined that it has two operating segments for purposes of allocating resources and evaluating financial performance, which consists of: (1) online marketplace and (2) health devices. Prior period numbers are broken down for comparative purpose.

The following tables present summary information by segment for the years ended March 31, 2022, 2021 and 2020:

​

​	​	​	​	​	​	​	​	​	​
​	​	Online		​	Health		​	​	​
For the Year Ended March 31, 2022		marketplace			devices			Total
Net Revenues	​	$	311,092	​	$	6,000,000	​	$	6,311,092
Cost of goods sold	​		—	​		5,394,866	​		5,394,866
Operating expenses	​		16,816,016	​		37,964	​		16,853,980
(Loss) income from operations	​		(16,504,925)	​		567,171	​		(15,937,754)
Depreciation and amortization	​		18,390	​		—	​		18,390
Total capital expenditures	​	$	—	​	$	—	​	$	—

​

​

​	​	​	​	​	​	​	​	​	​
​	​	Online		​	Health		​	​	​
For the Year Ended March 31, 2021		marketplace			devices			Total
Revenues	​	$	1,754,935	​	$	—	​	$	1,754,935
Operating expenses	​		32,659,283	​		—	​		32,659,283
Loss from operations	​		(30,904,348)	​		—	​		(30,904,348)
Depreciation and amortization	​		15,161	​		—	​		15,161
Total capital expenditures	​	$	—	​	$	—	​	$	—

​

​	​	​	​	​	​	​	​	​	​
​	​	Online		​	Health		​	​	​
For the Year Ended March 31, 2020		marketplace			devices			Total
Revenues	​	$	6,914,474	​	$	—	​	$	6,914,474
Operating expenses	​		55,020,164	​		—	​		55,020,164
Loss from operations	​		(48,105,690)	​		—	​		(48,105,690)
Depreciation and amortization	​		120,520	​		—	​		120,520
Total capital expenditures	​	$	200,360	​	$	—	​	$	200,360

​

Total assets as of:

​

​	​	​	​	​	​	​
​		March 31,			March 31,
​	​	2022		​	2021
Online marketplace	​	$	22,942,806	​	$	31,685,496
Health devices	​		27,736,978	​		—
Total Assets	​	$	50,679,784	​	$	31,685,496

X

- References

No definition available.

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- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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