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CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY - CONDENSED STATEMENTS OF CASH FLOWS (Details) - USD ($)
 12 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Mar. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net (loss) $ (16,851,064) $ (34,826,989) $ (71,198,379)
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Impairment on long-term investments 0 1,600,000 29,189,836
Share-based compensation 391,625 55,468 347,466
Changes in operating assets and liabilities:      
Prepayments and other assets (506,821) (112,562) 109,106
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES (8,628,371) 10,058,470 (58,278,734)
CASH FLOWS FROM INVESTING ACTIVITIES:      
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES (19,963,860) (662) 12,775,363
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from private placement 10,017,200    
Exercise of share options   5 281,617
Repurchase of ordinary shares     (2,667,902)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES 34,781,117 (9,037,223) (1,552,185)
NET INCREASE (DECREASE) IN CASH 6,796,603 4,203,511 (46,446,920)
CASH-beginning of year 15,128,719 6,668,104  
CASH-end of year 21,925,322 15,128,719 6,668,104
SUPPLEMENTAL CASH FLOW DISCLOSURES:      
Cash paid for income tax 38,616 9,764 3,209,378
Cash paid for interest 676,894 2,114,388 2,413,014
Parent Company | Reportable Legal Entities      
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net (loss) (16,851,064) (34,826,989) (71,198,379)
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Equity in loss of subsidiaries, VIEs and VIEs' subsidiaries 13,721,974 28,512,556 35,994,910
Impairment on long-term investments   1,600,000 29,189,836
Share-based compensation 391,625 55,468 347,466
Changes in operating assets and liabilities:      
Prepayments and other assets 154,654 (154,653) 344,195
Accrued expenses and other current liabilities 101,207 (40,618) 184,258
Interest payments on unsecured senior notes and short-term bank loan (676,894) (2,114,388)  
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES (3,158,498) (6,968,624) (5,137,714)
CASH FLOWS FROM INVESTING ACTIVITIES:      
Increase in investment in subsidiaries, VIEs and VIE's subsidiaries     (1,000,000)
Purchase of long-term investments     (14,594,918)
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES     (15,594,918)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from private placement 10,017,200    
Exercise of share options   3 281,616
Principal payments on unsecured senior notes (10,000,000) (10,000,000)  
Loan to subsidiaries, VIEs and VIE's subsidiaries (337,695)    
Repayment from subsidiaries, VIEs and VIE's subsidiaries   11,738,667  
Repurchase of ordinary shares     (2,667,902)
Proceeds from related party 2,000,000 5,004,290  
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES 1,679,505 6,742,960 (2,386,286)
NET INCREASE (DECREASE) IN CASH (1,478,993) (225,664) (23,118,918)
CASH-beginning of year 1,483,484 1,709,148 24,828,066
CASH-end of year $ 4,491 1,483,484 1,709,148
SUPPLEMENTAL CASH FLOW DISCLOSURES:      
Cash paid for interest   $ 2,114,388 $ 2,413,014