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ACQUISITION OF HUNAN RUIXI AND ITS VIE (Tables) | 9 Months Ended
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Dec. 31, 2018
ACQUISITION OF HUNAN RUIXI AND ITS VIE [Abstract] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | The following table summarizes the fair values for major classes of assets acquired and liabilities assumed at the date of acquisition:
|  | Fair value |
Net assets acquired (i) |  | $ | 45,895 |
Gain from acquisition of Hunan Ruixi and its subsidiary |  |  | - |
Noncontrolling interests (ii) |  |  | - |
Total purchase consideration |  | $ | - |
| (i) | Net assets acquired primarily include cash and cash equivalents of $213,645, other current assets of $1,774,725, property and equipment of $36,384, other current liabilities of $607,558 and borrowings from third parties of $1,439,750.
| (ii) | Fair value of the noncontrolling interests is estimated with reference to the purchase price per share as of the acquisition date.

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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=84161108&loc=d3e4845-128472 + Details
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