Eft (EFTB) 10-Q 19 Aug 15 2016 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Jun. 30, 2015	Aug. 19, 2015
Document Information [Line Items]
Entity Registrant Name	EFT Holdings, Inc.
Entity Central Index Key	1,450,973
Current Fiscal Year End Date	--03-31
Entity Filer Category	Smaller Reporting Company
Trading Symbol	EFTB
Entity Common Stock, Shares Outstanding		75,983,201
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2015
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2,016

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Jun. 30, 2015	Mar. 31, 2015
Current assets
Cash and cash equivalents	$ 2,004,788	$ 2,332,595
Securities available for sale	1,417,014	2,132,397
Inventories	260,287	303,848
Prepaid expenses	429,063	593,586
Other receivables	278,228	293,088
Total current assets	4,389,380	5,655,514
Property and equipment, net	840,458	894,129
Security deposit	373,237	360,203
Total assets	5,603,075	6,909,846
Current liabilities
Accounts payable	1,290,207	1,073,795
Commission payable	3,695,168	3,785,004
Other liabilities	5,973,965	5,874,187
Unearned revenues	3,277,376	3,198,776
Short-term loan	113,001	281,240
Contingent liabilities	214,019	214,019
Total liabilities	14,563,736	14,427,021
EFT Holdings, Inc. stockholders' deficiency:
Preferred stock, $0.001 par value, 25,000,000 shares authorized, none issued and outstanding	0	0
Common stock, $0.00001 par value, 4,975,000,000 shares authorized, 75,983,201 shares issued and outstanding at June 30, 2015 and March 31, 2015	760	760
Additional paid in capital	52,854,891	52,854,891
Retained deficit	(61,735,504)	(60,304,126)
Accumulated other comprehensive loss	(29,066)	(19,178)
Total EFT Holdings, Inc. stockholders’ deficiency	(8,908,919)	(7,467,653)
Non-controlling interest	(51,742)	(49,522)
Total deficiency	(8,960,661)	(7,517,175)
Total liabilities and deficiency	$ 5,603,075	$ 6,909,846

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2015	Mar. 31, 2015
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	25,000,000	25,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.00001	$ 0.00001
Common stock, shares authorized	4,975,000,000	4,975,000,000
Common stock, shares issued	75,983,201	75,983,201
Common stock, shares outstanding	75,983,201	75,983,201

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Sales revenues, net	$ 76,316	$ 229,573
Shipping charges	24,051	68,405
Total revenues, net	100,367	297,978
Cost of sales	48,068	78,349
Shipping costs	175	5,303
Total cost of revenues	48,243	83,652
Gross profit	52,124	214,326
Operating expenses:
Selling, general and administrative expenses	1,345,197	1,742,219
Provision for inventory obsolescence	6,409	56,976
Royalty expenses - related party	125,000	21,798
Total operating expenses	1,476,606	1,820,993
Operating loss	(1,424,482)	(1,606,667)
Other income/(expense)
Interest income	20,739	51,027
Interest expense	(42,913)	(31,696)
Gain/(loss) on disposal of securities available for sale (includes $9,060 and $8,562 accumulated other comprehensive income/(loss) reclassifications for unrealized net gains on securities available for sale for three months ended June 30, 2015 and 2014, respectively)	(3,592)	16,172
Dividend income	0	4,305
Foreign exchange loss	(408)	(195)
Other income	17,057	29,813
Gain on sales of long-term investment	0	984,722
Total other income/(expense)	(9,117)	1,054,148
Loss from continuing operations before income taxes	(1,433,599)	(552,519)
Income taxes	0	0
Loss from continuing operations	(1,433,599)	(552,519)
Discontinued operations
Income from operation of Excalibur	0	31,914
Total income from discontinued operations	0	31,914
Net loss	(1,433,599)	(520,605)
Loss (income) from non-controlling interest	2,221	(14,192)
Net loss attributable to EFT Holdings, Inc.	$ (1,431,378)	$ (534,797)
Net loss per share - continuing operations
Basic and diluted (in dollars per share)	$ (0.02)	$ (0.01)
Net income per share - discontinued operations
Basic and diluted (in dollars per share)	0	0
Net loss per common share attributable to EFT Holdings, Inc.
Basic and diluted (in dollars per share)	$ (0.02)	$ (0.01)
Weighted average common shares outstanding
Basic and diluted (in shares)	75,983,201	75,983,201

Consolidated Statements of Ope5

Consolidated Statements of Operations (Parenthetical) - USD ($)	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, before Tax	$ 9,060	$ 8,562

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Losses - USD ($)	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Net loss	$ (1,433,599)	$ (520,605)
Other comprehensive income/(loss)
Foreign currency translation adjustment	3,990	16,680
Unrealized income/(loss) on securities available for sale	(13,877)	15,687
Comprehensive loss	(1,443,486)	(488,238)
Less: Comprehensive income/(loss) attributable to non-controlling interests	(2,220)	25,805
Comprehensive loss attributable to EFT Holdings, Inc.	$ (1,441,266)	$ (514,043)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities:
Net loss from continuing operations	$ (1,433,599)	$ (552,519)
Net income from discontinued operations	0	31,914
Net loss	(1,433,599)	(520,605)
Adjustments to reconcile net loss to net cash provided by/(used in) operating activities:
Depreciation and amortization	42,259	49,864
(Gain)/loss from securities available for sale	3,592	(16,172)
Provision for inventory obsolescence	6,409	56,976
(Gain)/loss on disposal of fixed assets	11,432	(2,282)
Changes in operating assets and liabilities:
Inventories	37,151	50,403
Prepaid expenses	155,477	205,023
Other receivables	6,669	16,992
Accounts receivable	8,719	157,503
Accounts payable	216,412	(169,658)
Commission payable	(89,836)	(43,176)
Other liabilities	99,337	757,780
Unearned revenues	78,600	(56,310)
Net cash provided by/(used in) continuing operations	(857,378)	486,338
Net cash provided by discontinued operations	0	44,938
Net cash provided by/(used in) operating activities	(857,378)	531,276
Cash flows from investing activities:
Additions to fixed assets	0	(387)
Proceeds from disposal of fixed assets	0	17,678
Purchase of securities available for sale	0	(522,873)
Proceeds from available for sale securities	697,916	2,070,417
Net cash provided by continuing operations	697,916	1,564,835
Net cash provided by discontinued operations	0	0
Net cash provided by investing activities	697,916	1,564,835
Cash flows from financing activities:
Repayment of short-term loan	(168,239)	(190,974)
Net cash used in continuing operations	(168,239)	(190,974)
Net cash provided by discontinued operations	0	0
Net cash used in financing activities	(168,239)	(190,974)
Effect of exchange rate changes on cash	(106)	9,564
Net increase/(decrease) in cash	(327,807)	1,914,701
Cash, beginning of period	2,332,595	1,770,206
Cash, end of period	2,004,788	3,684,907
Supplemental disclosures of cash flow information:
Interest paid in cash	$ 2,021	$ 2,294

ORGANIZATION

ORGANIZATION	3 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	Note 1 - ORGANIZATION EFT Holdings, Inc., “EFT Holdings” or the “Company,” formerly EFT Biotech Holdings, Inc., was incorporated in the State of Nevada on March 19, 1992. The Company’s business is classified by management into two reportable segments: online and beverage. These reportable segments are two distinct businesses, each with a different customer base, marketing strategy and management structure. Substantially all of the Company’s revenue is generated from Mainland China.

GOING CONCERN

GOING CONCERN	3 Months Ended
	Jun. 30, 2015
Going Concern Disclosure [Abstract]
Going Concern Disclosure [Text Block]	Note 2 - GOING CONCERN The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. The Company has negative working capital of $ 10,174,356 61,735,504

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	Note 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and the rules and regulations of the Securities and Exchange Commission. In the opinion of management, the unaudited financial statements have been prepared on the same basis as the annual financial statements and reflect all adjustments, which include only normal recurring adjustments, necessary to present fairly the financial position as of June 30, 2015 and the results of operations and cash flows for the periods ended June 30, 2015 and 2014. The financial data and other information disclosed in these notes to the interim financial statements related to these periods are unaudited. The results for the three months ended June 30, 2015 are not necessarily indicative of the results to be expected for any subsequent periods or for the year ending March 31, 2016. The balance sheet at March 31, 2015 has been derived from the audited financial statements at that date. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States have been condensed or omitted pursuant to the Securities and Exchange Commission’s rules and regulations. These unaudited financial statements should be read in conjunction with the Company’s audited financial statements and notes thereto for the year ended March 31, 2015 as included in the Company’s Annual Report on Form 10-K for the year ended March 31, 2015. The consolidated financial statements include the accounts of the Company and its subsidiaries, all of which are wholly owned except for Digital Development Partners, Inc., “Digital”, which is 91.74 Certain amounts for prior periods have been reclassified to conform to the current period presentation. The Company’s consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and this requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and reported amounts of revenue and expenses during the reporting period. The significant areas requiring the use of management estimates include, but not limited to, the allowance for doubtful accounts receivable, estimated useful life and residual value of property, plant and equipment, provision for staff benefit, inventory markdown allowance, recognition and measurement of deferred income taxes and valuation allowance for deferred tax assets. Although these estimates are based on management’s knowledge of current events and actions management may undertake in the future, actual results may ultimately differ from those estimates. ASC Topic 820 defines fair value, establishes a framework for measuring fair value and enhances disclosure requirements for fair value measurements. This topic does not require any new fair value measurements. ASC Topic 820 defines fair value as the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or a liability. As a basis for considering such assumptions, ASC Topic 820 establishes a three-tier value hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value: Level 1 Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 — Other inputs that are directly or indirectly observable in the marketplace. Level 3 — Unobservable inputs which are supported by little or no market activity. The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. In accordance with ASC Topic 820, the Company measures its securities available for sale at fair value. The securities available for sale are classified within Level 1 since they are valued using quoted market prices. The significant accounting policies used in preparation of these consolidated financial statements for the three months ended June 30, 2015 are consistent with those discussed in Note 2 to the consolidated financial statements in the Company’s Annual Report on Form 10-K for the year ended March 31, 2015. There are no new accounting pronouncements adopted or enacted during the three months ended June 30, 2015 that had, or are expected to have, a material impact on the Company’s financial statements.

SECURITIES AVAILABLE FOR SALE

SECURITIES AVAILABLE FOR SALE	3 Months Ended
	Jun. 30, 2015
Investments, Debt and Equity Securities [Abstract]
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	Note 4 – SECURITIES AVAILABLE FOR SALE June 30, 2015 Amortized Unrealized Unrealized Market Average Cost Gains Losses Value Duration (1) Corporate bonds $ 866,595 $ 295 $ (13,191) $ 853,699 4.53 Corporate notes 567,263 - (3,948) 563,315 2.82 Total debt securities $ 1,433,858 $ 295 $ (17,139) $ 1,417,014 March 31, 2015 Amortized Unrealized Unrealized Market Average Cost Gains Losses Value Duration (1) Corporate bonds $ 1,568,102 $ 13,350 $ (5,245) $ 1,576,207 4.79 Corporate notes 567,261 - (11,071) 556,190 3.07 Total debt securities $ 2,135,363 $ 13,350 $ (16,316) $ 2,132,397 (1) Average remaining duration to maturity, in years All securities were classified as available for sale as of each date presented. Less than 1 year 1 Year or More Total Market Unrealized Market Unrealized Market Unrealized Value Losses Value Losses Value Loss Corporate bonds $ - $ - $ 723,980 $ (13,191) $ 723,980 $ (13,191) Corporate notes - - 563,315 (3,948) 563,315 (3,948) Total debt securities $ - $ - $ 1,287,295 $ (17,139) $ 1,287,295 $ (17,139) Declines in the fair value of available for sale securities below their cost that are deemed to be other than temporary are reflected in earnings as realized losses to the extent the impairment is related to credit losses. The amount of the impairment related to other factors is recognized in other comprehensive income. In estimating other-than-temporary impairment losses, management considers, among other things: (i) the length of time and the extent to which the fair value has been less than cost; (ii) the financial condition and near-term prospects of the issuer; and (iii) the intent and ability to retain the investment in the issuer for a period of time sufficient to allow for any anticipated recovery of cost. There were 22 securities in an unrealized loss position at June 30, 2015, Management does not intend to sell any of the securities classified as available for sale which have unrealized losses and believes that it is not likely that the Company will have to sell any such securities before a recovery of cost. The unrealized losses are largely due to increases in market interest rates over the yields available at the time the underlying securities were purchased and are not the result of deteriorated credit quality. The fair value is expected to recover as the bonds approach their maturity or re-pricing date or if market yields for such investments decline. Management does not believe such securities are other-than-temporarily impaired due to reasons of credit quality. Investment securities with a book value of $ 701,508 3,592

INVENTORIES

INVENTORIES	3 Months Ended
	Jun. 30, 2015
Inventory Disclosure [Abstract]
Inventory Disclosure [Text Block]	Note 5 – INVENTORIES June 30, March 31, Raw materials and supplies $ 42,302 $ 42,302 Finished goods 217,985 261,546 $ 260,287 $ 303,848

LOANS TO RELATED PARTIES AND RE

LOANS TO RELATED PARTIES AND RELATED PARTY TRANSACTIONS	3 Months Ended
	Jun. 30, 2015
Loans To Related Parties and Related Party Transactions [Abstract]
Loans to Related Parties and Related Party Transactions [Text Block]	Note 6 - LOANS TO RELATED PARTIES AND RELATED PARTY TRANSACTIONS The Company uses the “EFT” name, a trademark owned and licensed to it by EFT Assets Limited, a Company that Wendy Qin, a director of EFT International Ltd., served as a director until March 2015. The Company is required to pay an annual royalty to EFT Assets equal to a percentage of its gross sales for the previous fiscal year. The percentage is 5% for the first $30 million in gross sales, 4% for the $10 million in gross sales in excess of $30 million, 3% for the $10 million in gross sales in excess of $40 million; 2% for the $10 million in gross sales in excess of $50 million; and 1% for the $10 million in gross sales in excess of $60 million 500,000 125,000 21,798 In March 2010, one of the Company’s subsidiaries, EFT International Ltd., entered into a consultancy agreement with JFL Capital Limited, a company in which Wendy Qin serves as a director and is one of the principal shareholders. Under this agreement, EFT International Ltd. engaged JFL Capital Limited to provide EFT International Ltd. consultancy services on administration, financial matters, corporate planning and business development commencing April 1, 2010, and the annual fee will be increased at the rate of $15,000 each year. The agreement may be terminated by either party on three months’ written notice. EFT International Ltd. paid JFL Capital Limited $ 97,500 93,750 Until June 24, 2015, the Company rented 2,500 square feet of office space for its satellite training center in Hong Kong. The office was located at Langham Office Tower, 8 Argyle Street, Kowloon, Hong Kong SAR. The space that was subject to the lease is owned by a number of persons, including Wendy Qin, a director of EFT (HK) Ltd and the sister of Jack Jie Qin, the Company’s president. Until March 31, 2014, the lease was for 6,500 30,900 On May 1, 2014, the Company reduced the rented space to 4,356 23,972 On November 1, 2014, the Company further reduced the rented space to 2,500 10,735 Beginning on April 1, 2015 through June 24, 2015, the monthly rent for the 2,500 15,319 42,893 77,419

DECONSOLIDATION OF SUBSIDIARY -

DECONSOLIDATION OF SUBSIDIARY - EXCALIBUR	3 Months Ended
	Jun. 30, 2015
Discontinued Operations and Disposal Groups [Abstract]
Excalibur [Text Block]	Note 7 - DECONSOLIDATION OF SUBSIDIARY – EXCALIBUR On October 25, 2008, the Company through its wholly-owned subsidiary, EFT Investment, acquired a 48.81% equity interest in Excalibur International Marine Corporation (“Excalibur”) for $19,193,000. Between July 2008 and February 2015, the Company made loans to Excalibur aggregating approximately $6.78 million, which bore interest at 8% per annum and were due from July 2014 to June 2015. The Company initially loaned funds to Excalibur in July 2008 and subsequently has continued to provide Excalibur with loans to fund its operations. Since the Company provided funding and exercised control over Excalibur, Excalibur was treated as a subsidiary and its accounts were consolidated into the Group’s financial statements. Accordingly, these loans were eliminated in the Company’s consolidated financial statements. On October 3, 2014, the Ministry of Economic Affairs of Taiwan issued a letter to the Company stating that the registrations for the issuance of shares of Excalibur on May 16 and June 15, 2007 by Lu Zhuo-Jun were judged to be false by the Taiwan High Court. Therefore, these two registrations were cancelled and all subsequent registrations that followed based upon the untrue basis of the two false share registrations were cancelled as well. As the acquisition of 48.81% of Excalibur’s shares by EFT Investment was made after these two invalid share registrations in May and June 2007, the share registration regarding EFT Investment’s purchase of Excalibur’s shares was also cancelled. In regards to the historical financial reporting treatment, considering the facts that the Company has provided financial support to Excalibur’s operations and was committed to absorb the losses from Excalibur’s operations, the Company has concluded the investment in Excalibur would be considered a Variable Interest Entity (“VIE”) in accordance with ASC 810. As a result of the Company’s investment in Excalibur being considered a VIE, the Company would have consolidated the accounts of Excalibur from the time of its investment and there would have been no impact on the historical financial statements previously presented for the Company. In view of the loss of the Company’s shareholding right and the fact that the Company will not provide financial support to Excalibur in the future, Excalibur was deconsolidated from the Company’s consolidated accounts effective on October 1, 2014. The Company recognized a loss of $2,622,906 as a result of disposal of Excalibur in October 2014, which included gain from disposal of subsidiary of $7,042,255 and the write-off of intercompany loan receivables from Excalibur of $9,665,161.

INVESTMENT IN CTX VIRTUAL TECHN

INVESTMENT IN CTX VIRTUAL TECHNOLOGIES	3 Months Ended
	Jun. 30, 2015
Investment In Ctx Virtual Technologies [Abstract]
Investment in Ctx Virtual Technologies [Text Block]	Note 8- INVESTMENT IN CTX VIRTUAL TECHNOLOGIES CTX Virtual Technologies, Inc. (“CTX”) (Pink Sheets: CTXV) is a technology company that manufactures and distributes mobile telecommunication, IT data management, virtual imaging and mobile data input accessories. The Company currently owns 5,626,914 5,000,000 10,593,220 During the three months ended June 30, 2014, the Company sold approximately 2 1.0 985,000 The Company intends to sell the remaining 5.6

OTHER LIABILITIES

OTHER LIABILITIES	3 Months Ended
	Jun. 30, 2015
Other Liabilities and Financial Instruments Subject To Mandatory Redemption [Abstract]
Other Liabilities Disclosure [Text Block]	Note 9 - OTHER LIABILITIES June March 30, 2015 31, 2015 Payroll liabilities $ 46,289 $ 46,289 Warranty liabilities 1,500 2,025 Accrued expenses 443,557 384,135 Provision for tax 5,479,227 5,438,335 Others 3,392 3,403 $ 5,973,965 $ 5,874,187

CONTINGENT LIABILITIES

CONTINGENT LIABILITIES	3 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Contingencies Disclosure [Text Block]	Note 10 - CONTINGENT LIABILITIES In 2009, the Company’s subsidiary, Tianquan, engaged a general contractor to construct a water manufacturing plant for RMB 4,758,600 766,000 698,896 112,500 1,912,000 308,400 1,326,916 213,700 1,823,787.91 294,200

SHORT-TERM LOAN

SHORT-TERM LOAN	3 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Short-term Debt [Text Block]	Note 11 – SHORT-TERM LOAN The Company received a $ 571,200 4.95 64,783 The Company renewed coverage for the 2013-2014 period and received a loan in the amount of $ 571,200 3.60 64,422 The Company renewed coverage for the 2014-2015 period and received a new loan in the amount of $ 503,200 3.60 56,753

WARRANTS

WARRANTS	3 Months Ended
	Jun. 30, 2015
Warrants Note Disclosure [Abstract]
Warrants Disclosure [Text Block]	Note 12 – WARRANTS As of March 31, 2014, the Company’s subsidiary Digital had 2,000,000 330,665 330,665 June 1, 2014 1.00 September 30, 2014 1.00 1.25

INCOME TAXES

INCOME TAXES	3 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	Note 13 - INCOME TAXES The Company was incorporated in the United States and has operations in five tax jurisdictions - the United States, the Hong Kong Special Administrative Region, “HK SAR”, mainland China, Taiwan, and the BVI. The Company generated substantially all of its net income from its BVI operations for the three months ended June 30, 2015 and 2014. According to BVI tax law, this income is not subject to any taxes. The Company’s HK SAR subsidiaries are subject to a 16.5 EFT (HK) Ltd provides management service to a BVI subsidiary, and the BVI subsidiary reimburses EFT (HK) Ltd for its total operating expenses plus a 5% mark up, and the income is subject to a 16.5% profit tax. The Company’s Taiwan subsidiary, EFTI, and its factory in mainland China are subject to a 17 25 Three Months Ended June 30, 2015 2014 Current: Domestic $ - $ - Foreign - - Deferred - - Income tax expenses $ - $ - 37 Three Months Ended June 30, 2015 2014 Income tax credit at U.S. statutory rate $ (529,610) $ (197,875) Deferred tax valuation allowance 528,747 196,402 Nondeductible expenses 863 1,473 Income tax expenses $ - $ - The Company and its subsidiaries file income tax returns in the U.S. federal jurisdiction, and various states and foreign jurisdictions. With few exceptions, the Company is no longer subject to U.S. federal, state and local, or non-U.S., income tax examinations by tax authorities for tax years before the year ended March 31, 2007. The Company has not provided deferred taxes on unremitted earnings attributable to international companies that have been considered to be reinvested indefinitely. Because of the availability of U.S. foreign tax credits, it is not practicable to determine the income tax liability that would be payable if such earnings were not indefinitely reinvested. In accordance with ASC Topic 740, interest associated with unrecognized tax benefits is classified as interest expense and penalties are classified in selling, general and administrative expenses in the statements of operations. In December 2013, the IRS concluded its audit of the Company’s returns for the years 2007 through 2010 and issued an examination report that proposed adjustments of $ 12.3 8.6 After receiving further information from the Company subsequent to the issuance of its original report, the IRS has revised its audit report of the Company’s returns for the years 2008 through 2010 and has reduced its proposed adjustments from $ 12.3 4.5 4.1 The Company plans to continue to challenge most of the remaining proposed adjustments as set forth in the revised report and is in the process of appealing the proposed adjustments with the IRS. The extent of the Company’s operations involves dealing with uncertainties and judgments in the application of complex tax regulations in a multitude of jurisdictions. The final taxes paid are dependent upon many factors, including negotiations with taxing authorities in various jurisdictions and resolution of disputes arising from federal, state and international tax audits. The Company recognizes potential liabilities and records tax liabilities for anticipated tax audit issues in the United States and other tax jurisdictions based on its estimate of whether, and the extent to which, additional taxes will be due.

SEGMENT INFORMATION

SEGMENT INFORMATION	3 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	Note 14 – SEGMENT INFORMATION The Company’s business is classified by management into two reportable business segments: online and beverage. The online business reportable segment is an aggregation of the Company’s online operating segments, which are organized to sell the Company’s products to Affiliates through its websites. The online business reportable segment derives revenue from the sales of nutritional products, personal care products and EFT-phones and access fees for its network platform. The beverage business reportable segment derives revenue and expense from the bottled water factory in Baiquan, Heilongjiang Province, the PRC. Unallocated items comprise mainly corporate expenses and corporate assets. Although substantially all of the Company’s revenue is generated from Mainland China, the Company is organizationally structured along business segments. The accounting policies of each of the Company’s operating segments are the same as those described in Note 2, “Summary of Significant Accounting Policies.” The following tables provide the business segment information as of and for the three months ended June 30, 2015 and 2014. Three months ended June 30, 2015 Online Beverage Unallocated business business items Total Total revenues, net $ 100,367 $ - $ - $ 100,367 Total cost of revenues (48,243) - - (48,243) Gross profit 52,124 - - 52,124 Operating expenses: Selling, general and administrative expenses 449,386 46,514 849,297 1,345,197 Provision for inventory obsolescence 6,409 - - 6,409 Royalty expenses 125,000 - - 125,000 Total operating expenses 580,795 46,514 849,297 1,476,606 Net operating loss (528,671) (46,514) (849,297) (1,424,482) Other income/(expense) 26,505 - (35,622) (9,117) Allocated income tax expense - - - - Loss after income tax (502,166) (46,514) (884,919) (1,433,599) Total long-lived assets 2,640 836,722 1,096 840,458 Additions to long-lived assets - - - - Three months ended June 30, 2014 Online Beverage Unallocated business business items Total Total revenues, net $ 297,978 $ - $ - $ 297,978 Total cost of revenues (83,652) - - (83,652) Gross profit 214,326 - - 214,326 Operating expenses: Selling, general and administrative expenses 378,405 59,124 1,304,690 1,742,219 Provision for inventory obsolescence 56,976 - - 56,976 Royalty expenses 21,798 - - 21,798 Total operating expenses 457,179 59,124 1,304,690 1,820,993 Net operating loss (242,853) (59,124) (1,304,690) (1,606,667) Other income 102,142 5,342 946,664 1,054,148 Allocated income tax expense - - - - Loss after income tax (140,711) (53,782) (358,026) (552,519) Total long-lived assets 50,213 984,371 263 1,034,847 Additions to long-lived assets 387 - - 387

LITIGATION

LITIGATION	3 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Legal Matters and Contingencies [Text Block]	Note 15 – LITIGATION On October 1, 2010, EFT Investment Co. Ltd. (EFTI) filed a lawsuit against Hsiao Zhong-Xing, former general manager of Excalibur, and Lu Zhuo-Jun, former vice general manager of Excalibur, collectively "Defendants,” in the Taiwan Shihlin District Prosecutor’s Office. EFTI alleges, among other things, that Defendants committed the offences of capital forging, fraud, breach of trust, and document fabrication. On April 30, 2013, the Taiwan Shihlin District Court found that both Hsaio Zhong-Xing and Lu Zhuo-Jun were guilty of fraudulent increase of paid-up capital and dismissed all other charges. As a result, Hsiao Zhong-Xing received a six-month jail sentence and Lu Zhuo-Jun received a five-month jail sentence. Both of their jail sentences can be converted into a fine. On May 27, 2013, the Shihlin District Prosecutor filed an appeal in the Taiwan High court for reconsideration of the judgment entered by the District Court. On February 19, 2014, the Taiwan High Court sustained the District Court’s decision and found Hsaio Zhong-Xing guilty and sentenced him to a mandatory ten-month jail sentence; and found Lu Zhuo-Jun guilty and sentenced him to a mandatory eight-month jail sentence. This decision is final and confirmed. Based on the Taiwan Shihlin District Court’s judgment of fraudulent increase of paid-up capital, Excalibur filed a civil lawsuit against Hsiao Zhong-Xing, Lu Zhuo-Jun and Jiao Ren-He on January 7, 2014 for the unpaid capital amount of NTD 475,312,500 EFTI filed a civil lawsuit against Jiao Ren-Ho, Chang Hui-Ying, Hsiao Zhong-Xing, and Lu Zhuo-Jun, collectively “Defendants,” in the Taiwan Shihlin District court on February 12, 2010. EFTI alleges Defendants committed tortious acts, including but not limited to the offences of capital forging, fraud, breach of trust and document fabrication. The Shihlin District Court found in favor of all Defendants in the case. EFT filed an appeal in the appellate court for reconsideration of the judgment entered by the District Court. The appellate court remanded the case to District Court for the second review and the District Court found in favor of all defendants for the second time. EFT therefore filed a second appeal in the appellate court for reconsideration of the judgment entered by the District Court. The final resolution of this case is pending. Marinteknik Shipbuilders (S) Pte Ltd Excalibur 8,050,832 254,700 203,402 On August 2, 2010, the Company commenced a legal proceeding against Marinteknik Shipbuilders (S) Pte Ltd. and six other persons in the High Court of the Republic of Singapore alleging fraud, misrepresentation, and deceit on the part of the defendants with respect to Excalibur’s purchase of the Ocean La La. The Company claims that the wrongful actions of the defendants resulted in damages of $ 19,000,000 200,000 In 2009, EFT’s subsidiary, Heilongjiang Tianquan Manor Soda Drinks Co. Ltd., engaged a general contractor, the “Contractor”, to construct a water manufacturing plant, the “Plant”, for RMB 4,758,600 776,300 698,896 112,500 1,912,000 1,326,916 1,823,787.91 On August 8, 2012, the Company filed a complaint against Edward Carter, a former consultant, in the Superior Court of California, county of Los Angeles, in which the Company alleges, among other things, that Mr. Carter breached his consulting contract, fiduciary duty and committed fraud and misrepresentation in respect to the Company’s investment in CTX Virtual Technologies, Inc., “CTX”, as sponsored by Buckman, Buckman & Reid, Inc., “BB&R”, a financial consulting firm and placement agent. This matter was dismissed as part of a mutual settlement that was entered into between the parties on or around February 25, 2015. On January 28, 2013, EFTI filed a criminal complaint against Tom Peng a.k.a. Cheng Hao Peng (President of Meifu Development Co., Ltd., “Meifu”), Thomas Chen a.k.a. Hong Dong Chen (former General Manager and Director of EFTI), Steven Peng a.k.a. Tien Te Peng (Vice Chairman of Transglobe Life Insurance Inc., “Transglobe”), Xian Jue Liu (Chairman of Transglobe ), Shih Kuei Chang (General Manager of Meifu), Yi Feng Cheng (Real Estate Department Manager of Transglobe ) and Da Min Wu, an individual, collectively called “Defendants”, in the Taipei District Prosecutor’s Office. EFTI alleges, among other things, that Thomas Chen colluded with Tom Peng and other Defendants, and that Thomas Chen had made numerous misrepresentations to the Company and EFTI in connection with transactions related to a building in Taiwan, of which Meifu and Transglobe were developers. The Company also alleges that Thomas Chen breached his fiduciary duty, as the General Manager of EFTI, by binding EFTI in various agreements and making payments from EFTI to Meifu and Transglobe, which are named Defendants, and that the Defendants had committed violations of securities law, insurance law, corporation law and tax law, as well as money laundering, fraud and breach of trust. On June 6, 2013, the Company filed a civil complaint in Los Angeles, California against Meifu Development Co., Ltd., Transglobe Life Insurance Inc. and certain individuals related to the purchase of the Taiwan Building. On January 27, 2014, the Company voluntarily dismissed the civil complaints without prejudice in Los Angeles, California, in return for a good faith settlement negotiation initiated by such defendants. However, due to a lack of good faith of the defendants in negotiation of a settlement, on May 30, 2014, the Company re-filed civil complaints against Meifu Development Co. Ltd., Transglobe Life Insurance, Inc., Tom Peng and Thomas Chen in the Los Angeles Supreme Court, alleging deceit, conversion, breach of fiduciary duty and other illegal acts against the Company. The final resolution of this case is pending. On July 23, 2013, the Taipei District Prosecutor’s Office issued a non-indictment decision on charges of fraud against the Defendants, which the Company believes is unwarranted. The decision not to indict the Defendants was made despite the fact that the Taiwan Investigation Bureau, Ministry of Justice had confirmed that Thomas Chen, the former GM of EFTI, has received and/or has intended to receive secret profits from Tom Peng, who admitted his full control over Meifu and Transglobe. A report by the Taiwan Investigation Bureau, Ministry of Justice, further revealed, among other fraudulent activities, that Tom Peng and his son, Steven Peng, a.k.a. Tien Te Peng, were involved in illegal inter-company transactions and illegal related party transactions. Documents received by the Company through Court petition indicated that, on June 14, 2013, the Prosecutor in Taiwan, despite what the Company believes to have been ample evidence of illegality, instructed the Taiwan Investigation Bureau to halt all further investigations into EFTI’s criminal complaint prior to his written decision not to indict the Defendants. Subsequently, on August 22, 2013, EFTI completed the filing of the appeal with the Taiwan High Prosecutor’s Office for reconsideration of the non-indictment charges against the Defendants. This appeal was rejected on August 29, 2013, which the Company believes was not enough time for the Prosecutor’s Office to fully reconsider the appeal. On September 12, 2013, EFTI filed a final petition to the Taipei District Court for judgment of the decision made by the Taiwan High Prosecutor’s Office, but the petition was rejected on March 5, 2014. The Company is considering various legal options against the Defendants in Taiwan. On November 27, 2013, a class action entitled Li, et al. v. EFT Holdings, Inc., et al. was filed on behalf of a putative class of all purchasers of one or more of the Company’s products against the Company and Jack Qin in the United States District Court for the Central District of California. A first amended complaint was filed on July 11, 2014. On October 10, 2014, the Court dismissed all class claims with prejudice. On November 19, 2014, the Court denied Plaintiffs’ Motion for Relief from the October 10, 2014 Order. On January 7, 2015, the Court entered an order dismissing Plaintiffs’ claims for breach of warranty with prejudice and all claims against Jack Qin without prejudice, and clarified that Plaintiff cannot seek disgorgement or state claims based on any stock-related fraud. On January 30, 2015, a second amended complaint was filed alleging individual claims for unfair competition, false advertising and fraud. The second amended complaint sought, among other things, restitution, compensatory and punitive damages and injunctive relief. On April 29, 2015, the Court consolidated this action with the Wang, et al. v. EFT Holdings, Inc., et al. action. On May 7, 2015, Plaintiffs voluntarily dismissed the claims of the individual plaintiffs without prejudice. On November 27, 2013, a class action entitled Li, et al. v. Qin, et al. was filed on behalf of a putative class of all purchasers of the Company’s products against the Company and certain of its current and former officers and directors in the United States District Court for the Central District of California. A first amended complaint was filed on July 11, 2014. On October 10, 2014, the Court dismissed all class claims with prejudice. On November 19, 2014, the Court denied Plaintiffs’ Motion for Relief from the October 10, 2014 Order. On January 6, 2015, the Court entered an order dismissing Plaintiffs’ corporate waste and gift claims, and Plaintiffs’ Racketeer Influenced and Corrupt Organizations (RICO) Act claims based on alleged corporate looting and operation of a pump-and-dump scheme. The Court further dismissed Plaintiffs’ deception and common law fraud claims with respect to all defendants except the Company and Jack Qin. On January 30, 2015, a second amended complaint was filed alleging individual claims for operation of an endless chain scheme, deception and common law fraud, and RICO violations. The complaint sought, among other things, compensatory, treble and punitive damages. On April 29, 2015, the Court consolidated this action with the Wang, et al. v. EFT Holdings, Inc., et al. action. On May 7, 2015, Plaintiffs voluntarily dismissed the claims of the individual plaintiffs without prejudice. On January 30, 2015, a class action entitled Wang, et al. v. EFT Holdings, Inc., et al. was filed on behalf of a putative class of all purchasers of the Company’s products against the Company and certain of its current and former officers and directors in the United States District Court for the Central District of California. On April 14, 2015, Plaintiffs filed a first amended complaint. On April 29, 2015, the Court consolidate this action with the Li, et al. v. Qin, et al. and Li, et al. v. EFT Holdings, Inc., et al. actions. On May 7, 2015, Plaintiffs filed a motion for class certification, which is currently pending. On May 11, 2015, Plaintiffs filed a second amended and consolidated complaint, alleging claims for operation of an endless chain scheme, deception and common law fraud, unfair competition, false advertising, and RICO violations. On May 29, 2015, the Company filed a motion to dismiss and a motion to strike the class allegations from the second amended and consolidated complaint.. On July 21, 2015, the Court entered an order dismissing Plaintiffs’ RICO claims with prejudice. The Court further dismissed Plaintiffs’ state law claims for operation of an endless chain scheme, deception and common law fraud, unfair competition and false advertising with respect to all defendants except the Company and Jack Qin. On July 28, 2015, the Court granted in part the Company’s motion to strike, deeming certain of Plaintiffs’ counsel inadequate to represent the class. On August 11, 2015, a third amended and consolidated complaint was filed alleging claims for operation of an endless chain scheme, deception and common law fraud, false advertising and unfair competition. The complaint seeks, among other things, compensatory and punitive damages. This case is currently pending. The Company believes that the claims asserted are without merit and intends to defend against them vigorously. On December 6, 2013, the Company named George Curry (a former director and officer of the Company) as one of the defendants in the Superior Court of California, county of Los Angeles, with reference to the CTX investment transaction, in which the Company alleges, among other things, that Mr. Curry breached his fiduciary duty and committed fraud and misrepresentation in respect of the Company’s investment in CTX. On April 18, 2014, George Curry filed a Notice of Removal for the above action to be brought in the District Court of California, Los Angeles (Western District). In the same action, he brought a counterclaim against EFT Holdings, Inc., Jack Qin and Pyng Soon and sought implied and equitable indemnity, declaratory relief and apportionment of fault. On or around December 11, 2014, George Curry filed a motion for summary judgment against EFT and all other cross-defendants in the matter. The motion was heard on February 26, 2015, wherein the Court denied George Curry’s motion. The final resolution of the entire matter is still pending. On May 30, 2014, the Company filed a civil lawsuit in the Superior Court of the State of California for the County of Los Angeles - East District against Meifu and others. alleging deceit, conversion, breach of fiduciary duty and money had and received against the defendants. Also named as defendants in this action are TransGlobe, Peng Cheng-Hao (President of Meifu) and Thomas Chen, a former director of EFTI. On March 4, 2015, the Company filed a civil lawsuit in the United States District Court, Central District of California, against CTX, Buckman, Buckman & Reid, Cliff Rhee and Peter Lau alleging breach of covenant of good faith and fair dealing, breach of fiduciary duty, fraud, misrepresentation, concealment, negligent misrepresentation and negligence. On April 14, 2015, Defendant CTX filed a motion to dismiss. On May 28, 2015, the Court granted CTX’s motion, in part, with leave to amend. The Company filed a First Amended Complaint on June 8, 2015, asserting causes of action for: (1) breach of covenant of good faith and fair dealing; (2) breach of fiduciary duty; (3) fraud-misrepresentation; and (4) fraud-concealment. On June 24, 2015, CTX filed an answer to the First Amended Complaint. Buckman, Buckman & Reid and Peter Lau filed an answer to the First Amended Complaint on July 9, 2015. On June 4, 2015, the Superior Court of California, County of Los Angeles ruled that since the Company has its principal place of business in California, the matter is stayed to allow the Company time to file in the appropriate forum. The Court further ordered that Taiwan is a suitable forum for the Company’s complaint. An order to show cause is set for December 4, 2015. On June 22, 2015, a complaint entitled Greenstone Holdings, Inc. v. EFT Holdings, Inc., et al. was filed in the United States District Court for the Central District of California, asserting a claim for express indemnity against the Company. The Company believes that the claim asserted is without merit and intends to defend against it vigorously.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Jun. 30, 2015
Subsequent Events [Abstract]
Subsequent Events [Text Block]	Note 16 - SUBSEQUENT EVENTS The Company has reviewed its subsequent events through the date these consolidated financial statements were issued and has determined that no material subsequent events have occurred through such date.

SUMMARY OF SIGNIFICANT ACCOUN24

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of presentation The unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and the rules and regulations of the Securities and Exchange Commission. In the opinion of management, the unaudited financial statements have been prepared on the same basis as the annual financial statements and reflect all adjustments, which include only normal recurring adjustments, necessary to present fairly the financial position as of June 30, 2015 and the results of operations and cash flows for the periods ended June 30, 2015 and 2014. The financial data and other information disclosed in these notes to the interim financial statements related to these periods are unaudited. The results for the three months ended June 30, 2015 are not necessarily indicative of the results to be expected for any subsequent periods or for the year ending March 31, 2016. The balance sheet at March 31, 2015 has been derived from the audited financial statements at that date. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States have been condensed or omitted pursuant to the Securities and Exchange Commission’s rules and regulations. These unaudited financial statements should be read in conjunction with the Company’s audited financial statements and notes thereto for the year ended March 31, 2015 as included in the Company’s Annual Report on Form 10-K for the year ended March 31, 2015.
Consolidation, Policy [Policy Text Block]	Principles of Consolidation The consolidated financial statements include the accounts of the Company and its subsidiaries, all of which are wholly owned except for Digital Development Partners, Inc., “Digital”, which is 91.74
Reclassification, Policy [Policy Text Block]	Reclassification Certain amounts for prior periods have been reclassified to conform to the current period presentation.
Use of Estimates, Policy [Policy Text Block]	Uses of estimates in the preparation of financial statements The Company’s consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and this requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and reported amounts of revenue and expenses during the reporting period. The significant areas requiring the use of management estimates include, but not limited to, the allowance for doubtful accounts receivable, estimated useful life and residual value of property, plant and equipment, provision for staff benefit, inventory markdown allowance, recognition and measurement of deferred income taxes and valuation allowance for deferred tax assets. Although these estimates are based on management’s knowledge of current events and actions management may undertake in the future, actual results may ultimately differ from those estimates.
Fair Value Measurement, Policy [Policy Text Block]	Fair value measurements ASC Topic 820 defines fair value, establishes a framework for measuring fair value and enhances disclosure requirements for fair value measurements. This topic does not require any new fair value measurements. ASC Topic 820 defines fair value as the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or a liability. As a basis for considering such assumptions, ASC Topic 820 establishes a three-tier value hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value: Level 1 Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 — Other inputs that are directly or indirectly observable in the marketplace. Level 3 — Unobservable inputs which are supported by little or no market activity. The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. In accordance with ASC Topic 820, the Company measures its securities available for sale at fair value. The securities available for sale are classified within Level 1 since they are valued using quoted market prices. The significant accounting policies used in preparation of these consolidated financial statements for the three months ended June 30, 2015 are consistent with those discussed in Note 2 to the consolidated financial statements in the Company’s Annual Report on Form 10-K for the year ended March 31, 2015.
New Accounting Pronouncements, Policy [Policy Text Block]	Recent accounting pronouncements There are no new accounting pronouncements adopted or enacted during the three months ended June 30, 2015 that had, or are expected to have, a material impact on the Company’s financial statements.

SECURITIES AVAILABLE FOR SALE (

SECURITIES AVAILABLE FOR SALE (Tables)	3 Months Ended
	Jun. 30, 2015
Investments, Debt and Equity Securities [Abstract]
Available-for-sale Securities [Table Text Block]	Securities available for sale consist of the following: June 30, 2015 Amortized Unrealized Unrealized Market Average Cost Gains Losses Value Duration (1) Corporate bonds $ 866,595 $ 295 $ (13,191) $ 853,699 4.53 Corporate notes 567,263 - (3,948) 563,315 2.82 Total debt securities $ 1,433,858 $ 295 $ (17,139) $ 1,417,014 March 31, 2015 Amortized Unrealized Unrealized Market Average Cost Gains Losses Value Duration (1) Corporate bonds $ 1,568,102 $ 13,350 $ (5,245) $ 1,576,207 4.79 Corporate notes 567,261 - (11,071) 556,190 3.07 Total debt securities $ 2,135,363 $ 13,350 $ (16,316) $ 2,132,397 (1) Average remaining duration to maturity, in years
Schedule of Unrealized Loss on Investments [Table Text Block]	The following table shows the gross unrealized losses and fair value of the Company’s investments, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position, as of June 30, 2015: Less than 1 year 1 Year or More Total Market Unrealized Market Unrealized Market Unrealized Value Losses Value Losses Value Loss Corporate bonds $ - $ - $ 723,980 $ (13,191) $ 723,980 $ (13,191) Corporate notes - - 563,315 (3,948) 563,315 (3,948) Total debt securities $ - $ - $ 1,287,295 $ (17,139) $ 1,287,295 $ (17,139)

INVENTORIES (Tables)

INVENTORIES (Tables)	3 Months Ended
	Jun. 30, 2015
Inventory Disclosure [Abstract]
Schedule of Inventory, Current [Table Text Block]	The components of inventories were as follows: June 30, March 31, Raw materials and supplies $ 42,302 $ 42,302 Finished goods 217,985 261,546 $ 260,287 $ 303,848

OTHER LIABILITIES (Tables)

OTHER LIABILITIES (Tables)	3 Months Ended
	Jun. 30, 2015
Other Liabilities and Financial Instruments Subject To Mandatory Redemption [Abstract]
Other Liabilities [Table Text Block]	Other liabilities consist of the following: June March 30, 2015 31, 2015 Payroll liabilities $ 46,289 $ 46,289 Warranty liabilities 1,500 2,025 Accrued expenses 443,557 384,135 Provision for tax 5,479,227 5,438,335 Others 3,392 3,403 $ 5,973,965 $ 5,874,187

INCOME TAXES (Tables)

INCOME TAXES (Tables)	3 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	The income tax expenses consist of the following: Three Months Ended June 30, 2015 2014 Current: Domestic $ - $ - Foreign - - Deferred - - Income tax expenses $ - $ -
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	A reconciliation of income taxes, with the amounts computed by applying the statutory federal income tax rate, 37 Three Months Ended June 30, 2015 2014 Income tax credit at U.S. statutory rate $ (529,610) $ (197,875) Deferred tax valuation allowance 528,747 196,402 Nondeductible expenses 863 1,473 Income tax expenses $ - $ -

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	3 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Income tax allocations have been determined based on statutory rates in the applicable business segment. Three months ended June 30, 2015 Online Beverage Unallocated business business items Total Total revenues, net $ 100,367 $ - $ - $ 100,367 Total cost of revenues (48,243) - - (48,243) Gross profit 52,124 - - 52,124 Operating expenses: Selling, general and administrative expenses 449,386 46,514 849,297 1,345,197 Provision for inventory obsolescence 6,409 - - 6,409 Royalty expenses 125,000 - - 125,000 Total operating expenses 580,795 46,514 849,297 1,476,606 Net operating loss (528,671) (46,514) (849,297) (1,424,482) Other income/(expense) 26,505 - (35,622) (9,117) Allocated income tax expense - - - - Loss after income tax (502,166) (46,514) (884,919) (1,433,599) Total long-lived assets 2,640 836,722 1,096 840,458 Additions to long-lived assets - - - - Three months ended June 30, 2014 Online Beverage Unallocated business business items Total Total revenues, net $ 297,978 $ - $ - $ 297,978 Total cost of revenues (83,652) - - (83,652) Gross profit 214,326 - - 214,326 Operating expenses: Selling, general and administrative expenses 378,405 59,124 1,304,690 1,742,219 Provision for inventory obsolescence 56,976 - - 56,976 Royalty expenses 21,798 - - 21,798 Total operating expenses 457,179 59,124 1,304,690 1,820,993 Net operating loss (242,853) (59,124) (1,304,690) (1,606,667) Other income 102,142 5,342 946,664 1,054,148 Allocated income tax expense - - - - Loss after income tax (140,711) (53,782) (358,026) (552,519) Total long-lived assets 50,213 984,371 263 1,034,847 Additions to long-lived assets 387 - - 387

GOING CONCERN (Details Textual)

GOING CONCERN (Details Textual) - USD ($)	Jun. 30, 2015	Mar. 31, 2015
Working Capital Deficit	$ 10,174,356
Retained Earnings (Accumulated Deficit), Total	$ (61,735,504)	$ (60,304,126)

SUMMARY OF SIGNIFICANT ACCOUN31

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Textual)	3 Months Ended
	Jun. 30, 2015
Summary Of Significant Accounting Policies [Line Items]
Subsidiary or Equity Method Investee, Cumulative Percentage Ownership after All Transactions	91.74%

SECURITIES AVAILABLE FOR SALE32

SECURITIES AVAILABLE FOR SALE (Details) - USD ($)		3 Months Ended	12 Months Ended
		Jun. 30, 2015	Mar. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Amortized Cost		$ 1,433,858	$ 2,135,363
Available-for-sale Securities, Unrealized Gains		295	13,350
Available-for-sale Securities, Unrealized Losses		(17,139)	(16,316)
Available-for-sale Securities, Market Value		1,417,014	2,132,397
Corporate Bond Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Amortized Cost		866,595	1,568,102
Available-for-sale Securities, Unrealized Gains		295	13,350
Available-for-sale Securities, Unrealized Losses		(13,191)	(5,245)
Available-for-sale Securities, Market Value		$ 853,699	$ 1,576,207
Available For Sale Securities, Average Duration	[1]	4 years 6 months 11 days	4 years 9 months 14 days
Corporate Note Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Amortized Cost		$ 567,263	$ 567,261
Available-for-sale Securities, Unrealized Gains		0	0
Available-for-sale Securities, Unrealized Losses		(3,948)	(11,071)
Available-for-sale Securities, Market Value		$ 563,315	$ 556,190
Available For Sale Securities, Average Duration	[1]	2 years 9 months 25 days	3 years 25 days
[1]	Average remaining duration to maturity, in years

SECURITIES AVAILABLE FOR SALE33

SECURITIES AVAILABLE FOR SALE (Details 1) - Jun. 30, 2015 - USD ($)	Total
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Less than 1 year, Market Value	$ 0
Available-for-sale Securities, Less than 1 year, Unrealized Losses	0
Available-for-sale Securities, 1 Year or More, Market Value	1,287,295
Available-for-sale Securities, 1 year or More, Unrealized Losses	(17,139)
Available-for-sale Securities, Market Value	1,287,295
Available-for-sale Securities, Unrealized Losses	(17,139)
Corporate Bond Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Less than 1 year, Market Value	0
Available-for-sale Securities, Less than 1 year, Unrealized Losses	0
Available-for-sale Securities, 1 Year or More, Market Value	723,980
Available-for-sale Securities, 1 year or More, Unrealized Losses	(13,191)
Available-for-sale Securities, Market Value	723,980
Available-for-sale Securities, Unrealized Losses	(13,191)
Corporate Note Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Less than 1 year, Market Value	0
Available-for-sale Securities, Less than 1 year, Unrealized Losses	0
Available-for-sale Securities, 1 Year or More, Market Value	563,315
Available-for-sale Securities, 1 year or More, Unrealized Losses	(3,948)
Available-for-sale Securities, Market Value	563,315
Available-for-sale Securities, Unrealized Losses	$ (3,948)

SECURITIES AVAILABLE FOR SALE34

SECURITIES AVAILABLE FOR SALE (Details Textual) - USD ($)	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Schedule of Available-for-sale Securities [Line Items]
Available-For-Sale Securities, Gross Realized Gain (Loss)	$ (3,592)	$ 16,172
Proceeds from Sale and Maturity of Marketable Securities	$ 701,508

INVENTORIES (Details)

INVENTORIES (Details) - USD ($)	Jun. 30, 2015	Mar. 31, 2015
Inventory [Line Items]
Raw materials and supplies	$ 42,302	$ 42,302
Finished goods	217,985	261,546
Inventory, Gross	$ 260,287	$ 303,848

LOANS TO RELATED PARTIES AND 36

LOANS TO RELATED PARTIES AND RELATED PARTY TRANSACTIONS (Details Textual)	1 Months Ended			3 Months Ended
	Nov. 30, 2014USD ($)a	May. 31, 2014USD ($)a	Mar. 31, 2014USD ($)a	Jun. 30, 2015USD ($)	Jun. 24, 2015USD ($)a	Jun. 30, 2014USD ($)
Related Party Transaction [Line Items]
Related Party Transaction, Amounts of Transaction				$ 500,000
Related Party Transaction, Description of Transaction				The percentage is 5% for the first $30 million in gross sales, 4% for the $10 million in gross sales in excess of $30 million, 3% for the $10 million in gross sales in excess of $40 million; 2% for the $10 million in gross sales in excess of $50 million; and 1% for the $10 million in gross sales in excess of $60 million
Director and President [Member]
Related Party Transaction [Line Items]
Operating Leases, Rent Expense				$ 42,893		$ 77,419
EFT Assets Limited [Member]
Related Party Transaction [Line Items]
Accrued Royalties				$ 125,000		21,798
Langham Office Owners [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Description of Transaction				the Company rented 2,500 square feet of office space for its satellite training center in Hong Kong. The office was located at Langham Office Tower, 8 Argyle Street, Kowloon, Hong Kong SAR. The space that was subject to the lease is owned by a number of persons, including Wendy Qin, a director of EFT (HK) Ltd and the sister of Jack Jie Qin, the Companys president.
Operating Leases, Rent Expense	$ 10,735	$ 23,972	$ 30,900		$ 15,319
Area of Land | a	2,500	4,356	6,500		2,500
Operating Lease And Monthly Rental Expense Description	On November 1, 2014, the Company further reduced the rented space to 2,500 square feet and the monthly rental was reduced to $10,735.	On May 1, 2014, the Company reduced the rented space to 4,356 square feet in an effort to reduce the Company's costs and the monthly rental was reduced to $23,972.	Until March 31, 2014, the lease was for 6,500 square feet with a monthly rental of $30,900.		Beginning on April 1, 2015 through June 24, 2015, the monthly rent for the 2,500 square feet of rented space increased to $15,319
JFL Capital Limited [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Description of Transaction				In March 2010, one of the Company's subsidiaries, EFT International Ltd., entered into a consultancy agreement with JFL Capital Limited, a company in which Wendy Qin serves as a director and is one of the principal shareholders. Under this agreement, EFT International Ltd. engaged JFL Capital Limited to provide EFT International Ltd. consultancy services on administration, financial matters, corporate planning and business development commencing April 1, 2010, and the annual fee will be increased at the rate of $15,000 each year. The agreement may be terminated by either party on three months’ written notice.
Consultancy Fee				$ 97,500		$ 93,750

DECONSOLIDATION OF SUBSIDIARY37

DECONSOLIDATION OF SUBSIDIARY - EXCALIBUR (Details Textual) - USD ($)	1 Months Ended		3 Months Ended
	Oct. 25, 2008	Jul. 31, 2008	Jun. 30, 2015
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Partners' Capital Account, Sale of Units	$ 19,193,000
Excalibur International Marine Corporation [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest			$ 2,622,906
Discontinued Operation, Gain (Loss) from Disposal of Discontinued Operation, before Income Tax			7,042,255
Allowance for Loan and Lease Losses, Write-offs			$ 9,665,161
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest	48.81%
Loans Receivable Interest Rate		8.00%
Loans and Leases Receivable, Gross		$ 6,780,000

INVESTMENT IN CTX VIRTUAL TEC38

INVESTMENT IN CTX VIRTUAL TECHNOLOGIES (Details Textual) - USD ($)	3 Months Ended
	Jun. 30, 2015	Mar. 31, 2015
Investment In Ctx Virtual Technologies [Line Items]
Common Stock, Shares, Outstanding	75,983,201	75,983,201
Stock Issued During Period, Shares, New Issues	5,600,000
Common Stock, Shares Issued	75,983,201	75,983,201
CTX Virtual Technologies Inc [Member]
Investment In Ctx Virtual Technologies [Line Items]
Stock Issued During Period, Shares, New Issues	2,000,000
Stock Issued During Period, Value, New Issues	$ 1,000,000
Fees and Commissions, Other	$ 985,000
Common Stock, Shares Issued	5,626,914
CTX Virtual Technologies Inc [Member] | Cost-method Investments [Member]
Investment In Ctx Virtual Technologies [Line Items]
Common Stock, Shares, Outstanding	10,593,220
Investments	$ 5,000,000

OTHER LIABILITIES (Details)

OTHER LIABILITIES (Details) - USD ($)	Jun. 30, 2015	Mar. 31, 2015
Other Liabilities [Line Items]
Payroll liabilities	$ 46,289	$ 46,289
Warranty liabilities	1,500	2,025
Accrued expenses	443,557	384,135
Provision for tax	5,479,227	5,438,335
Others	3,392	3,403
Other Liabilities, Current, Total	$ 5,973,965	$ 5,874,187

CONTINGENT LIABILITIES (Details

CONTINGENT LIABILITIES (Details Textual)	1 Months Ended						12 Months Ended
	Nov. 05, 2014USD ($)	Nov. 05, 2014CNY (¥)	Jan. 16, 2014USD ($)	Jan. 16, 2014CNY (¥)	Mar. 22, 2012USD ($)	Mar. 22, 2012CNY (¥)	Dec. 31, 2010USD ($)	Dec. 31, 2010CNY (¥)	Dec. 31, 2009USD ($)	Dec. 31, 2009CNY (¥)
Other Commitments [Line Items]
Payment Of Final Construction							$ 112,500	¥ 698,896	$ 112,500	¥ 698,896
Purported Outstanding Payments	$ 294,200	¥ 1,823,787.91	$ 213,700	¥ 1,326,916	$ 308,400	¥ 1,912,000
Water Manufacturing Plant [Member]
Other Commitments [Line Items]
Manufacturing Costs									$ 766,000	¥ 4,758,600

SHORT-TERM LOAN (Details Textua

SHORT-TERM LOAN (Details Textual) - USD ($)	Dec. 15, 2014	Dec. 15, 2013	Dec. 15, 2012	Jun. 30, 2015	Jun. 30, 2014	Sep. 30, 2013
Statement [Line Items]
Debt Instrument, Periodic Payment				$ 56,753	$ 64,422	$ 64,783
Directors and Officers Liability Insurance [Member]
Statement [Line Items]
Loans From Third Party				$ 503,200	$ 571,200	$ 571,200
Debt Instrument, Interest Rate During Period				3.60%	3.60%	4.95%
Debt Instrument, Frequency of Periodic Payment	nine equal payments	nine equal payments	nine equal payments

WARRANTS (Details Textual)

WARRANTS (Details Textual) - Mar. 31, 2014 - $ / shares	Total
Common Stock Warrants [Member]
WARRANTS [Line Items]
Investment Warrants Expiration Date	Jun. 1, 2014
Class of Warrant or Right, Outstanding	2,000,000
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 1
Series A Warrants [Member]
WARRANTS [Line Items]
Investment Warrants Expiration Date	Sep. 30, 2014
Class of Warrant or Right, Outstanding	330,665
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 1
Series B Warrants [Member]
WARRANTS [Line Items]
Investment Warrants Expiration Date	Sep. 30, 2014
Class of Warrant or Right, Outstanding	330,665
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 1.25

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Current:
Domestic	$ 0	$ 0
Foreign	0	0
Deferred	0	0
Income tax expenses	$ 0	$ 0

INCOME TAXES (Details 1)

INCOME TAXES (Details 1) - USD ($)	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Income Taxes [Line Items]
Income tax at U.S. statutory rate	$ (529,610)	$ (197,875)
Deferred tax valuation allowance	528,747	196,402
Nondeductible expenses	863	1,473
Income tax expenses	$ 0	$ 0

INCOME TAXES (Details Textual)

INCOME TAXES (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2013	Mar. 31, 2010
Income Taxes [Line Items]
Effective Rate of Income Tax	37.00%	37.00%
Consideration for Management Service, Description	EFT (HK) Ltd provides management service to a BVI subsidiary, and the BVI subsidiary reimburses EFT (HK) Ltd for its total operating expenses plus a 5% mark up, and the income is subject to a 16.5% profit tax.
Income Tax Examination, Increase (Decrease) in Liability from Prior Year			$ 8.6
Internal Revenue Service (IRS) [Member]
Income Taxes [Line Items]
Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority				$ 12.3
Tax Adjustments, Settlements, and Unusual Provisions	$ 4.1
Internal Revenue Service (IRS) [Member] | Maximum [Member]
Income Taxes [Line Items]
Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority				12.3
Internal Revenue Service (IRS) [Member] | Minimum [Member]
Income Taxes [Line Items]
Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority				$ 4.5
HK SAR [Member]
Income Taxes [Line Items]
Effective Rate of Income Tax	16.50%
Subsidiary In Taiwan [Member]
Income Taxes [Line Items]
Standard Enterprise Income Tax	17.00%
Subsidiary In Mainland China [Member]
Income Taxes [Line Items]
Standard Enterprise Income Tax	25.00%

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details) - USD ($)	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Segment Reporting Information [Line Items]
Total revenues, net	$ 100,367	$ 297,978
Total cost of revenues	(48,243)	(83,652)
Gross profit	52,124	214,326
Operating expenses:
Selling, general and administrative expenses	1,345,197	1,742,219
Provision for inventory obsolescence	6,409	56,976
Royalty expenses	125,000	21,798
Total operating expenses	1,476,606	1,820,993
Net operating loss	(1,424,482)	(1,606,667)
Other income/(expense)	(9,117)	1,054,148
Allocated income tax expense	0	0
Loss after income tax	(1,433,599)	(552,519)
Total long-lived assets	840,458	1,034,847
Additions to long-lived assets	0	387
Online Businesses [Member]
Segment Reporting Information [Line Items]
Total revenues, net	100,367	297,978
Total cost of revenues	(48,243)	(83,652)
Gross profit	52,124	214,326
Operating expenses:
Selling, general and administrative expenses	449,386	378,405
Provision for inventory obsolescence	6,409	56,976
Royalty expenses	125,000	21,798
Total operating expenses	580,795	457,179
Net operating loss	(528,671)	(242,853)
Other income/(expense)	26,505	102,142
Allocated income tax expense	0	0
Loss after income tax	(502,166)	(140,711)
Total long-lived assets	2,640	50,213
Additions to long-lived assets	0	387
Beverage Business [Member]
Segment Reporting Information [Line Items]
Total revenues, net	0	0
Total cost of revenues	0	0
Gross profit	0	0
Operating expenses:
Selling, general and administrative expenses	46,514	59,124
Provision for inventory obsolescence	0	0
Royalty expenses	0	0
Total operating expenses	46,514	59,124
Net operating loss	(46,514)	(59,124)
Other income/(expense)	0	5,342
Allocated income tax expense	0	0
Loss after income tax	(46,514)	(53,782)
Total long-lived assets	836,722	984,371
Additions to long-lived assets	0	0
Unallocated items [Member]
Segment Reporting Information [Line Items]
Total revenues, net	0	0
Total cost of revenues	0	0
Gross profit	0	0
Operating expenses:
Selling, general and administrative expenses	849,297	1,304,690
Provision for inventory obsolescence	0	0
Royalty expenses	0	0
Total operating expenses	849,297	1,304,690
Net operating loss	(849,297)	(1,304,690)
Other income/(expense)	(35,622)	946,664
Allocated income tax expense	0	0
Loss after income tax	(884,919)	(358,026)
Total long-lived assets	1,096	263
Additions to long-lived assets	$ 0	$ 0

LITIGATION (Details Textual)

LITIGATION (Details Textual)

Jul. 09, 2009USD ($)

Jul. 09, 2009TWD

Nov. 05, 2014USD ($)

Nov. 05, 2014CNY (¥)

Jan. 16, 2014USD ($)

Jan. 16, 2014CNY (¥)

Nov. 29, 2013USD ($)

Mar. 22, 2012USD ($)

Mar. 22, 2012CNY (¥)

Aug. 20, 2009USD ($)

Dec. 31, 2010USD ($)

Dec. 31, 2010CNY (¥)

Dec. 31, 2009USD ($)

Dec. 31, 2009CNY (¥)

Jan. 07, 2014TWD

Loss Contingencies [Line Items]

Loss Contingency, Damages Sought, Value

$ 200,000

$ 19,000,000

Payment of Final Construction

$ 112,500

¥ 698,896

$ 112,500

¥ 698,896

Purported Outstanding Payments

$ 294,200

¥ 1,823,787.91

$ 213,700

¥ 1,326,916

$ 308,400

¥ 1,912,000

Unpaid Capital Amount | TWD

TWD 475,312,500

Unpaid Services and Out Of Pocket Expenses [Member]

Loss Contingencies [Line Items]

Loss Contingency, Damages Sought, Value

$ 254,700

TWD 8,050,832

Loss Contingency, Damages Paid, Value

$ 203,402

Loss Contingency, Name of Plaintiff

Marinteknik Shipbuilders (S) Pte Ltd

Marinteknik Shipbuilders (S) Pte Ltd

Loss Contingency, Name of Defendant

Excalibur

Excalibur

Water Manufacturing Plant [Member]

Loss Contingencies [Line Items]

Manufacturing Costs

$ 766,000

¥ 4,758,600