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v3.8.0.1

Consolidated Statements of Cash Flows - USD ($) | 6 Months Ended
--- | ---
Sep. 30, 2017 | Sep. 30, 2016
Cash flows from operating activities |  |
Net income | $ 391,851 | $ 389,596
Adjustments to reconcile net income to net cash provided by (used in) operating activities |  |
Depreciation and amortization | 18,691 | 12,664
Changes in assets and liabilities |  |
Increase in accounts receivables | (1,148,224) | (747,300)
(Increase)/Decrease in other receivables and prepayments | (203,156) | 81,362
Increase in related party receivables | 30,262 | 558,180
Decrease in other assets |  | 10,639
(Decrease)/Increase in accounts payables | (26,588) | 26,192
Increase in taxes payable | 331,582 | 277,846
Increase in accrued liabilities and other current liabilities | (59,537) | 195,744
Net cash (used in)/provided by operating activities | (679,244) | 804,923
Cash flows from investing activities |  |
Acquisition of investments | (1,965,362) |
Increase in related party receivables | (1,424) | (495,264)
Purchase of equipment | (3,483) |
Increase in rent and utility deposits | 31,753 |
Net cash used in investing activities | (1,938,516) | (495,264)
Cash flows from financing activities |  |
Proceeds from issuance of ordinary shares | 7,731,271 |
Capital contribution from owners | 139,644 |
Repayment of capital lease |  | (8,146)
Increase/(Decrease) in related party payable | 20,001 | (158,528)
Net cash provided by/(used in) financing activities | 7,890,916 | (166,674)
Net increase/(decrease) of cash and cash equivalents | 5,273,157 | 142,985
Effect of foreign currency translation on cash and cash equivalents | 51,064 | (5,108)
Cash and cash equivalents - beginning of year | 3,222,361 | 2,480
Cash and cash equivalents - end of year | 8,546,582 | 140,357
Supplemental cash flow disclosures |  |
Interest received | 49,583 | 68,976
Interest paid | 11,477 |
Income taxes paid |  | $ 207,196

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