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COMMITMENTS AND CONTINGENCIES
 9 Months Ended
Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Disclosure [Text Block]
13.
COMMITMENTS AND CONTINGENCIES
 
1)
Lease Commitments
 
During the nine months ended December 31, 2018, the Company terminated five lease agreements for its offices and three apartments expiring through January 20, 2020. No penalties were levied on the termination of the lease agreements. In addition, the Company entered into new lease agreements to lease its offices under seven lease agreements expiring through December 2023 and leased two apartments for management members expiring in April 2019. The following table sets forth the Company’s lease obligations as of December 31, 2018 in future periods:
 
 
 
Rental payments
 
Year ending December 31, 2019
 
$
300,004
 
Year ending December 31, 2020
 
 
297,694
 
Year ending December 31, 2021
 
 
191,969
 
Year ending December 31, 2022
 
 
141,229
 
Year ending December 31, 2023 and thereafter
 
 
39,973
 
 
 
$
970,869
 
 
Rental expenses totaled $47,149 and $33,080 for the three months ended December 31, 2018 and 2017, respectively. Rental expenses totaled $113,518 and $92,515 for the nine months ended December 31, 2018 and 2017, respectively.
 
2)Purchase Commitments
 
On December 29, 2018, Hunan Ruixi entered into three purchase contracts with automobile dealers for the purchase of 140 automobiles in the aggregate purchase price of approximately $1.2 million. These transactions will be completed in 2019.