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Consolidated Balance Sheets
Mar. 31, 2024
USD ($)
Mar. 31, 2023
USD ($)
CURRENT ASSETS    
Cash and cash equivalents $ 20,149,806 $ 18,807,936
Restricted cash 12,724,365 12,762,708
Trade accounts receivables 15,824,103 14,119,606
Inventories 16,248,373 15,309,100
Other receivables, net 2,938,049 2,725,015
Advances to suppliers 914,776 142,417
Other current assets 569,544 616,008
Total current assets 69,682,362 64,482,790
OTHER ASSETS    
Property and equipment, net 4,906,589 5,100,264
Long-term investment 1,195,261 1,772,072
Farmland assets 634,153 666,721
Long-term deposits 1,119,006 1,038,125
Other noncurrent assets 682,437 790,056
Operating lease right-of-use assets 13,827,360 13,924,826
Intangible assets, net 3,009,922 3,195,748
Total other assets 25,374,728 26,487,812
Total assets 95,057,090 90,970,602
CURRENT LIABILITIES    
Short-term loan payable 276,997
Accounts payable 31,630,131 26,990,250
Notes payable [1] 31,676,335 29,255,776
Other payables 2,493,482 1,314,919
Customer deposits 518,241 695,931
Taxes payable 682,239 1,706,909
Accrued liabilities 386,395 756,516
Current portion of operating lease liabilities 4,862,766 5,131,373
Total current liabilities 74,360,095 66,535,234
Long-term operating lease liabilities 6,403,858 7,768,216
Total liabilities 80,763,953 74,303,450
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS’ EQUITY    
Ordinary shares; $0.24 par value; 150,000,000 shares authorized; 1,743,362 and 1,184,861 shares issued and outstanding as of March 31, 2024 and 2023, respectively 418,407 284,367
Preferred shares; $0.001 par value; 10,000,000 shares authorized; nil issued and outstanding as of March 31, 2024 and 2023
Additional paid-in capital 86,413,978 83,958,418
Statutory reserves 1,309,109 1,309,109
Accumulated deficit (73,507,246) (69,273,018)
Accumulated other comprehensive income 1,005,762 1,735,135
Total shareholders’ equity attributed to China Jo-Jo 15,640,010 18,014,011
Noncontrolling interests (1,346,873) (1,346,859)
Total shareholders’ equity 14,293,137 16,667,152
Total liabilities and shareholders’ equity 95,057,090 90,970,602
Related Party    
CURRENT ASSETS    
Due from related parties 313,346
CURRENT LIABILITIES    
Due to related parties $ 1,833,509 $ 683,560
[1] As of March 31, 2024, the Company had $31,676,335 (RMB228,712,642) of notes payable from HUB. The Company is required to hold restricted cash in the amount of $12,657,839 (RMB 91,393,395 ) with HUB as collateral against these bank notes. Included in the restricted cash is a total of $4,501,198 three-year deposit (RMB32,500,000) deposited into HUB as a collateral for current and future notes payable from HUB. As of March 31, 2023, the Company had $29,255,776 (RMB 200,916,968) of notes payable from HUB. The Company is required to hold restricted cash in the amount of $12,217,616 (RMB 83,905,700 ) with HUB as collateral against these bank notes. Included in the restricted cash is a total of $4,732,366 three-year deposit (RMB32,500,000) deposited into HUB as a collateral for current and future notes payable from HUB.