Senmiao Technology Limited (AIHS) 10-K 3 Jul 19 2019 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Mar. 31, 2019	Jul. 02, 2019	Sep. 28, 2018
Document and Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Entity Registrant Name	Senmiao Technology Ltd
Entity Central Index Key	0001711012
Current Fiscal Year End Date	--03-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Public Float			$ 65,802,856
Trading Symbol	AIHS
Entity Common Stock, Shares Outstanding		27,726,615
Entity Shell Company	false
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Interactive Data Current	Yes
Security Exchange Name	NASDAQ
Title of 12(b) Security	Common Stock

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Mar. 31, 2019	Mar. 31, 2018
Current Assets
Cash and cash equivalents	$ 5,020,510	$ 11,141,566
Accounts receivable	326,181	0
Inventories	1,508,244	0
Finance lease receivables, net, current portion	10,254	0
Prepayments, receivables and other assets, net	3,793,468	70,421
Escrow receivable due within one year	600,000	0
Due from related parties	140,498	0
Total Current Assets	11,399,155	11,211,987
Property and equipment, net	125,885	8,872
Other Assets
Intangible assets, net	296,091	1,953,223
Prepayments for intangible assets	470,706	0
Escrow receivable	0	1,200,000
Finance lease receivables, net	22,298	0
Total Assets	12,314,135	14,374,082
Current Liabilities
Borrowings from financial institutions	219,157	0
Borrowings from third parties	476,765	0
Advances from customers	38,996	0
Income tax payable	21,905	0
Accrued expenses and other liabilities	1,500,803	404,604
Due to stockholders	1,080,047	1,090,808
Due to related parties and affiliates	415,931	0
Total Current Liabilities	3,753,604	1,495,412
Borrowings from financial institutions, noncurrent	177,789	0
Total Liabilities	3,931,393	1,495,412
Commitments and Contingencies
Stockholders' Equity
Common stock (par value $0.0001 per share, 100,000,000 shares authorized; 25,945,255 and 25,879,400 shares issued and outstanding at March 31, 2019 and 2018, respectively)	2,595	2,588
Additional paid-in capital	23,833,112	23,611,512
Accumulated deficit	(15,031,538)	(10,481,669)
Accumulated other comprehensive loss	(428,771)	(253,761)
Total Stockholders' Equity	8,375,398	12,878,670
Noncontrolling interests	7,344	0
Total Equity	8,382,742	12,878,670
Total Liabilities and Equity	$ 12,314,135	$ 14,374,082

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2019	Mar. 31, 2018
Common Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized	100,000,000	100,000,000
Common Stock, Shares, Issued	25,945,255	25,879,400
Common Stock, Shares, Outstanding	25,945,255	25,879,400

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenues	$ 2,921,063	$ 494,897
Cost of revenues	(1,812,187)	0
Gross profit	1,108,876	494,897
Operating expenses
Selling, general and administrative expenses	(4,024,672)	(1,517,804)
Amortization of intangible assets	(308,043)	(659,558)
Impairments of intangible assets and goodwill	(1,225,073)	(8,179,381)
Total operating expenses	(5,557,788)	(10,356,743)
Loss from operations	(4,448,912)	(9,861,846)
Other (expenses) income, net	(37,830)	2,874
Interest expenses	(33,878)	0
Loss before income taxes	(4,520,620)	(9,858,972)
Income tax expenses	(21,905)	0
Net loss	(4,542,525)	(9,858,972)
Net income attributable to noncontrolling interests	(7,344)	0
Net loss attributable to stockholders	(4,549,869)	(9,858,972)
Net loss	(4,542,525)	(9,858,972)
Other comprehensive (loss) income
Foreign currency translation adjustment	(175,010)	854,001
Comprehensive Loss	(4,717,535)	(9,004,971)
Less: total comprehensive income attributable to noncontrolling interests	(7,344)	0
Total comprehensive loss attributable to stockholders	$ (4,724,879)	$ (9,004,971)
Weighted average number of common stock
Basic and diluted	25,882,287	21,967,776
Loss per share
Basic and diluted loss for the years	$ (0.18)	$ (0.45)

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($)	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated deficit [Member]	Accumulated other comprehensive loss [Member]	Non-controlling interest [Member]
Balance at Mar. 31, 2017	$ 9,630,669	$ 2,025	$ 11,359,103	$ (622,697)	$ (1,107,762)	$ 0
Balance (Shares) at Mar. 31, 2017		20,250,000
Capital restructuring	0	$ 225	(225)	0	0	0
Capital restructuring (Shares)		2,250,000
Issuance of common stock pursuant to initial public offering ("IPO"), net of issuance costs	10,735,372	$ 300	10,735,072	0	0	0
Issuance of common stock pursuant to initial public offering ("IPO"), net of issuance costs (Shares)		3,000,000
Issuance of common stock pursuant to exercise of underwriter's over-allotment option	1,517,600	$ 38	1,517,562	0	0	0
Issuance of common stock pursuant to exercise of underwriter's over-allotment option (Shares)		379,400
Net (loss) income	(9,858,972)	$ 0	0	(9,858,972)	0	0
Foreign currency translation gain (loss)	854,001	0	0	0	854,001	0
Balance at Mar. 31, 2018	12,878,670	$ 2,588	23,611,512	(10,481,669)	(253,761)	0
Balance (Shares) at Mar. 31, 2018		25,879,400
Capital contribution from noncontrolling interests of the subsidiary acquired	157,642	$ 0	157,642	0	0	0
Gain from acquisition of variable interest entities	63,965	0	63,965	0	0	0
Issuance of common stock pursuant to exercise of underwriter's warrants granted in IPO	0	$ 7	(7)	0	0	0
Issuance of common stock pursuant to exercise of underwriter's warrants granted in IPO (Shares)		65,855
Net (loss) income	(4,542,525)	$ 0	0	(4,549,869)	0	7,344
Foreign currency translation gain (loss)	(175,010)	0	0	0	(175,010)	0
Balance at Mar. 31, 2019	$ 8,382,742	$ 2,595	$ 23,833,112	$ (15,031,538)	$ (428,771)	$ 7,344
Balance (Shares) at Mar. 31, 2019		25,945,255

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash Flows from Operating Activities:
Net loss	$ (4,542,525)	$ (9,858,972)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation of property and equipment	22,851	3,580
Amortization of intangible assets	308,043	659,558
Impairments of intangible assets and goodwill	1,225,073	8,179,381
Provision of doubtful accounts	5,077	0
Changes in operating assets and liabilities:
Accounts receivable	(274,507)	(52,744)
Inventories	(1,491,928)	0
Prepayments, receivables and other assets	(1,930,415)	0
Advances from customers	19,944	0
Income tax payable	21,905	0
Accrued expenses and other liabilities	380,256	293,892
Net Cash Used in Operating Activities	(6,256,226)	(775,305)
Cash Flows from Investing Activities:
Purchases of property and equipment	(28,870)	(2,990)
Purchases of intangible assets	(471,555)	0
Addition in finance lease receivables	(32,200)	0
Net Cash Used in Investing Activities	(532,625)	(2,990)
Cash Flows from Financing Activities:
Net proceeds from issuance of common stock in the IPO	0	9,641,604
Proceeds from exercise of underwriter's over-allotment option	0	1,411,368
Proceeds borrowed from stockholders	1,973,479	792,382
Repayments to stockholders	(1,900,000)	(105,630)
Release of escrow receivable	600,000	0
Borrowings from third parties	471,608
Repayments of borrowings from related parties and affiliates	(487,115)	0
Repayments of noncurrent borrowings from financial institutions	(175,581)	0
Cash received from acquisition	218,816	0
Net Cash Provided by Financing Activities	701,207	11,739,724
Effect of exchange rate changes on cash and cash equivalents	(33,412)	18,845
Net (decrease) increase in cash and cash equivalents	(6,121,056)	10,980,274
Cash and cash equivalents at beginning of year	11,141,566	161,292
Cash and cash equivalents at end of year	5,020,510	11,141,566
Supplemental Cash Flow Information
Cash paid for interest expense	33,878	0
Cash paid for income tax	0	0
Non-cash Transaction in Investing and Financing Activities
Unpaid property and equipment purchases	0	4,166
IPO issuance costs net against additional paid-in capital	0	1,264,628
Escrow receivable in connection with IPO	0	1,200,000
IPO expenses paid by the Company's stockholders	70,687	67,277
Assume of net liabilities of Ruixi, excluding cash and cash equivalents	$ (149,680)	$ 0

ORGANIZATION AND PRINCIPAL ACTI

ORGANIZATION AND PRINCIPAL ACTITIVIES	12 Months Ended
	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1. ORGANIZATION AND PRINCIPAL ACTITIVIES Senmiao Technology Limited (the “Company”) is a U.S. holding company incorporated in the State of Nevada on June 8, 2017. The Company is located in Chengdu, Sichuan Province, China, and operates its businesses in two segments: (i) online lending services through its variable interest entity (“VIE”), Sichuan Senmiao Ronglian Technology Co., Ltd. (“Sichuan Senmiao”), in the People’s Republic of China (“PRC” or “China”) which facilitates loan transactions between Chinese investors and individual and small-to-medium-sized enterprise (“SME”) borrowers; and (ii) automobile transaction and related services focusing on the ride-hailing industry in China through its majority owned subsidiary, Hunan Ruixi Financial Leasing Co., Ltd. (“Hunan Ruixi”), a PRC limited liability company, its wholly owned subsidiary, Hunan Ruixi Automobile Leasing Co., Ltd. (“Ruixi Leasing”), and its VIE, Sichuan Jinkailong Automobile Leasing Co., Ltd. (“Jinkailong”). On September 25, 2016, Sichuan Senmiao acquired a peer-to-peer (“P2P”) platform (including website, internet content provider license, operating systems, servers, and management system) from Sichuan Chenghexin Investment and Asset Management Co., Ltd. On July 28, 2017, the Company established a wholly-owned subsidiary, Sichuan Senmiao Zecheng Business Consulting Co., Ltd. (“ ”) in China. Sichuan Senmiao was established in China in June 2014. On September 18, 2017, the Company entered into a series of agreements (“VIE Agreements”) with Sichuan Senmiao and its equity holders (the “Sichuan Senmiao Shareholders”) through to obtain control and became the primary beneficiary of Sichuan Senmiao (the “Restructuring”). In connection with the Restructuring, as partial consideration for the Sichuan Senmiao Shareholders’ commitment to perform their obligations under the VIE Agreements, the Company issued an aggregate of 45,000,000 shares of its common stock to the Sichuan Senmiao Shareholders pursuant to certain subscription agreements dated September 18, 2017. On November 21, 2018, the Company entered into an Investment and Equity Transfer Agreement (the “Investment Agreement”) with Hunan Ruixi and all the shareholders of Hunan Ruixi (“Hunan Ruixi Shareholders”), pursuant to which the Company acquired from the Hunan Ruixi Shareholders an aggregate of 60% of the equity interest of Hunan Ruixi. The Company closed the acquisition on November 22, 2018 and agreed to make a cash contribution of $6,000,000 to Hunan Ruixi, representing 60% of its registered capital, in accordance with the Investment Agreement (Note 3). As of March 31, 2019, the Company made cash contributions in the aggregate amount of $5,000,000 to Hunan Ruixi. Hunan Ruixi holds automobiles sales and financial leasing licenses and has been engaged in automobile financial leasing services and automobile sales since January 2019. Hunan Ruixi also controls Jinkailong through its 35% equity interest and a voting agreement with Jinkailong’s other shareholders. Jinkailong is an automobile transaction and related services company in China, which primarily targets the drivers in the ride-hailing service sector and facilitates automobile sales and financing transactions for its clients and provides relevant after- transaction services to them. As of March 31, 2019, Ruixi Leasing has not commenced operating yet. The following diagram illustrates the Company’s corporate structure, including its subsidiaries, and VIEs, as of the date of these financial statements: VIE Agreements with Sichuan Senmiao According to the VIE Agreements, Sichuan Senmiao is obligated to pay service fees equal to its net income. Sichuan Senmiao’s entire operations are controlled by the Company. There are no unrecognized revenue-producing assets that are held by Sichuan Senmiao. Each of the VIE Agreements is described in details below: Equity Interest Pledge Agreement Senmiao Consulting , Sichuan Senmiao and the Sichuan Senmiao Shareholders entered into an Equity Interest Pledge Agreement, pursuant to which the Sichuan Senmiao Shareholders pledged all of their equity interest in Sichuan Senmiao to in order to guarantee the performance of Sichuan Senmiao’s obligations under the Exclusive Business Cooperation Agreement as described below. During the term of the pledge, is entitled to receive any dividends declared on the pledged equity interest of Sichuan Senmiao. The Equity Interest Pledge Agreement terminates when all contractual obligations under the Exclusive Business Cooperation Agreement have been fully performed. Exclusive Business Cooperation Agreement Pursuant to an Exclusive Business Cooperation Agreement entered by and among the Company, , Sichuan Senmiao and each of Sichuan Senmiao Shareholders, will provide Sichuan Senmiao with complete technical support, business support and related consulting services for 10 years ended September 18, 2027. The Sichuan Senmiao Shareholders and Sichuan Senmiao will not engage any third party for the same or similar consultation services without ’s prior consent. Further, the Sichuan Senmiao Shareholders are entitled to receive an aggregate of 20,250,000 shares of common stock of the Company under the Exclusive Business Cooperation Agreement. may terminate the Exclusive Business Cooperation Agreement at any time upon prior written notice to Sichuan Senmiao and the Sichuan Senmiao Shareholders. Exclusive Option Agreement Pursuant to an Exclusive Option Agreement entered by and among , Sichuan Senmiao and the Sichuan Senmiao Shareholders, the Sichuan Senmiao Shareholders have granted an exclusive option to purchase at any time their equity interests in Sichuan Senmiao at a purchase price equal to the capital paid by the Sichuan Senmiao Shareholders in whole or at a pro-rated price for any partial purchase. The Exclusive Option Agreement terminates after 10 years ending September 18, 2027 but can be renewed by at its discretion. Powers of Attorney Each of the Sichuan Senmiao Shareholders has signed a power of attorney (the “Power of Attorney”), pursuant to which, each of the Sichuan Senmiao Shareholders has authorized Senmiao Consulting to act as his or her exclusive agent and attorney with respect to all rights of such individual as a shareholder of Sichuan Senmiao, including but not limited to: (a) attending shareholders’ meetings; (b) exercising all the shareholder’s rights that shareholders are entitled to under PRC laws and the Articles of Association of Sichuan Senmiao, including but not limited to voting, sale, transfer, pledge and disposition of the equity interests of Sichuan Senmiao; and (c) designating and appointing the legal representative, chairperson, director, supervisor, chief executive officer and other senior management members of Sichuan Senmiao. The Power of Attorney has the same term as the Exclusive Option Agreement. Timely Report Agreement The Company and Sichuan Senmiao entered into a Timely Report Agreement, pursuant to which, Sichuan Senmiao agrees to make its officers and directors available to the Company and promptly provide all information required by the Company so that the Company can make necessary filings to the U.S. Securities and Exchange Commission (“SEC”) and other regulatory reports in a timely fashion. The Company has concluded that it should consolidate the financial statements with Sichuan Senmiao because it is Sichuan Senmiao’s primary beneficiary based on the Power of Attorney from the Sichuan Senmiao Shareholders, who assigned their rights as shareholders of Sichuan Senmiao to , the Company’s wholly-owned subsidiary. These rights include, but are not limited to, attending shareholders’ meetings, voting on matters submitted for shareholder approval and appointing legal representatives, directors, supervisors and senior management of Sichuan Senmiao. As a result, the Company, through , is deemed to hold all of the voting equity interests in Sichuan Senmiao. Pursuant to Exclusive Business Cooperation Agreement, shall provide complete technical support, business support and related consulting services for 10 years. Though not explicit in the VIE Agreements, the Company may provide financial support to Sichuan Senmiao to meet its working capital requirements and capitalization purposes. The terms of the VIE Agreements and the Company’s plan to provide financial support to Sichuan Senmiao were considered in determining that the Company is the primary beneficiary of Sichuan Senmiao. Accordingly, the financial statements of Sichuan Senmiao are consolidated in the Company’s consolidated financial statements. The Restructuring constituted a reorganization. As all of the above mentioned companies are under common control, this series of transactions are considered as a reorganization of the entities under common control at carrying value and the consolidated financial statements have been prepared as if the reorganization had occurred retroactively. The consolidated financial statements have been prepared as if the existing corporate structure had been in existence throughout all periods and the reorganization had occurred as of the beginning of the earliest period presented in the accompanying consolidated financial statements. Voting Agreement with Jinkailong’s Other Shareholders In addition to obtaining 35% equity interests in Jinkailong, Hunan Ruixi, Jinkailong and other Jinkailong’s shareholders holding an aggregate of 65% equity interests entered into a voting agreement, as amended (the “Voting Agreement”), pursuant to which all other Jinkailong’s shareholders will vote in concert with Hunan Ruixi on all fundamental corporate transactions in the event of a disagreement for a period of 20 years, ending on August 25, 2038. The Company has concluded that it should consolidate the financial statements with Jinkailong because it is Jinkailong’s primary beneficiary based on the Voting Agreement. Though not explicit in the business cooperation agreement by and among Jinkailong, Hunan Ruixi, and other shareholders of Hunan Ruixi, the Company may provide financial support to Jinkailong to meet its working capital requirements and capitalization purposes. The terms of the Voting Agreement and the Company’s plan to provide financial support to Jinkailong were considered in determining that the Company is the primary beneficiary of Jinkailong. Accordingly, the financial statements of Jinkailong are consolidated in the Company’s consolidated financial statements. Total assets and total liabilities of the Company’s VIEs included in the Company’s consolidated financial statements as of March 31, 2019 and 2018 are as follows: March 31, 2019 March 31, 2018 Total assets $ 5,214,014 $ 10,425,056 Total liabilities $ 6,852,769 $ 1,413,485 Net revenue, net loss, operating, investing and financing cash flows of the VIEs that were included in the Company's consolidated financial statements for the years ended March 31, 2019 and 2018 are as follows: For the Years Ended March 31, 2019 2018 Net revenue $ 1,087,207 $ 494,897 Net loss $ (2,379,206 ) $ (1,473,911 ) Net Cash Used in Operating Activities $ (1,188,131 ) (718,896 ) Net Cash Used in Investing Activities $ (8,491 ) (2,990 ) Net Cash Provided by Financing Activities $ 1,892,789 725,227

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (a) Basis of presentation The accompanying consolidated financial statements of the Company has been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). (b) Basis of consolidation The consolidated financial statements include the accounts of the Company and include the assets, liabilities, revenues and expenses of the subsidiaries and VIEs. All inter-company accounts and transactions have been eliminated in consolidation. (c) Reclassification Certain items in the consolidated financial statements of comparative period have been reclassified to conform to the consolidated financial statements for the current period. (d) Foreign currency translation Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing on the dates of the transaction. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency using the applicable exchange rates on the date of the balance sheet. The resulting exchange differences are recorded in the statement of operations. The reporting currency of the Company and its subsidiaries is U.S. dollars (“US$”) and the accompanying consolidated financial statements have been expressed in US$, because that is the primary and functional currency where all entities operate. In general, for consolidation purposes, assets and liabilities of the Company and its subsidiaries whose functional currency is not the US$, are translated into US$, using the exchange rate on the balance sheet date. Revenues and expenses are translated at average rates prevailing during the period. The gains and losses resulting from translation of financial statements of the Company and its subsidiaries are recorded as a separate component of accumulated other comprehensive income within the statement of stockholders’ equity. Translation of amounts from RMB into US$ has been made at the following exchange rates for the respective periods: March 31, 2019 March 31, 2018 Balance sheet items, except for equity accounts 6.7119 6.2807 For the Years Ended March 31, 2019 2018 Items in the statements of operations and comprehensive loss, and statements of cash flows 6.7126 6.6269 (e) Use of estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities on the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. On an ongoing basis, management reviews these estimates and assumptions using the currently available information. Changes in facts and circumstances may cause the Company to revise its estimates. The Company bases its estimates on past experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Estimates are used when accounting for items and matters including, but not limited to, revenue recognition, residual values, lease classification, inventory obsolescence, determinations of the useful lives and valuation of long-lived assets, estimates of allowances for doubtful accounts and prepayments, estimates of impairment of intangible assets, valuation of deferred tax assets, estimated fair value used in business acquisitions and other provisions and contingencies. (f) Fair values of financial instruments Accounting Standards Codification (“ASC”) Topic 825, Financial Instruments (“Topic 825”) requires disclosure of fair value information of financial instruments, whether or not recognized in the balance sheets, for which it is practicable to estimate that value. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Topic 825 excludes certain financial instruments and all nonfinancial assets and liabilities from its disclosure requirements. Accordingly, the aggregate fair value amounts do not represent the underlying value of the Company. Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the assets or liability, either directly or indirectly, for substantially the full term of the financial instruments. Level 3 inputs to the valuation methodology are unobservable and significant to the fair value. As of March 31, 2019 and 2018, financial instruments of the Company comprised primarily current assets and current liabilities including cash and cash equivalents, accounts receivable, finance lease receivables and other assets, escrow receivables , due from related parties, borrowings from financial institutions, other liabilities, due to stockholders and due to related parties and affiliates, which approximate their fair values because of the short-term nature of these instruments, and noncurrent liabilities of borrowings from financial institutions, which approximate their fair values because of the stated loan interest rate to the rate charged by similar financial institutions. The finance lease receivables were recorded at gross adjusted for the deferred interest income using the effective interest rate method. The Company believes that the effective interest rates underlying the finance lease receivables approximates current market rates for such finance leasing products as of March 31, 2019. (g) Business combinations and noncontrolling interests The Company accounts for its business combinations using the acquisition method of accounting in accordance with ASC 805 "Business Combinations." The cost of an acquisition is measured as the aggregate of the acquisition date fair value of the assets transferred to the sellers and liabilities incurred by the Company and equity instruments issued. Transaction costs directly attributable to the acquisition are expensed as incurred. Identifiable assets and liabilities acquired or assumed are measured separately at their fair values as of the acquisition date, irrespective of the extent of any noncontrolling interests. The excess of (i) the total costs of acquisition, fair value of the noncontrolling interests and acquisition date fair value of any previously held equity interest in the acquiree over (ii) the fair value of the identifiable net assets of the acquiree is recorded as goodwill. If the cost of acquisition is less than the fair value of the net assets of the subsidiary acquired, the difference is recognized directly in the consolidated income statements. During the measurement period, which can be up to one year from the acquisition date, the Company may record adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the values of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the consolidated income statements. For the Company's non-wholly owned subsidiaries, a noncontrolling interest is recognized to reflect portion of equity that is not attributable, directly or indirectly, to the Company. The cumulative results of operations attributable to noncontrolling interests are also recorded as noncontrolling interests in the Company's consolidated balance sheets and consolidated statements of operations and comprehensive loss. Cash flows related to transactions with noncontrolling interests are presented under financing activities in the consolidated statements of cash flows. (h) Segment reporting Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision maker (the “CODM”), which is comprised of certain members of the Company's management team. Historically, the Company had one single operating and reportable segment, namely the provision of an online lending services. During the year ended March 31, 2019, the Company acquired Hunan Ruixi and and evaluated how the CODM manages the businesses of the Company to maximize efficiency in allocating resources and assessing performance. Consequently, the Company presents two operating and reportable segments as set forth in Notes 1 and 17. (i) Cash and cash equivalents Cash and cash equivalents primarily consist of bank deposits with original maturities of three months or less, which are unrestricted as to withdrawal and use. (j) Accounts receivable, net Accounts receivable are recorded at the invoiced amount less an allowance for any uncollectible accounts and do not bear interest, and are due on demand. Management reviews the adequacy of the allowance for doubtful accounts on an ongoing basis, using historical collection trends and aging of receivables. Management also periodically evaluates individual customer’s financial condition, credit history and the current economic conditions to make adjustments in the allowance when necessary. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. As of March 31, 2019, the Company determined no allowance for doubtful accounts was necessary for accounts receivable. (k) Inventories Inventories consist of automobiles which are held for sale and for leasing purposes, and are stated at lower of cost or net realizable value, as determined using the weighted average cost method. Management compares the cost of inventories with the net realizable value and if applicable, an allowance is made for writing down the inventory to its net realizable value, if lower than cost. On an ongoing basis, inventories are reviewed for potential write-down for estimated obsolescence or unmarketable inventories which equals the difference between the costs of inventories and the estimated net realizable value based upon forecasts for future demand and market conditions. When inventories are written-down to the lower of cost or net realizable value, it is not marked up subsequently based on changes in underlying facts and circumstances. (l) Finance lease receivables, net Finance lease receivables, which result from sales-type leases, are measured at discounted present value of (i) future minimum lease payments, (ii) any residual value not subject to a bargain purchase option as a finance lease receivables on its balance sheet and (iii) accrued interest on the balance of the finance lease receivables based on the interest rate inherent in the applicable lease over the term of the lease. Management also periodically evaluates individual customer’s financial condition, credit history and the current economic conditions to make adjustments in the allowance when necessary. Finance lease receivables is charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. As of March 31, 2019, the Company determined no allowance for doubtful accounts was necessary for finance lease receivables. As of March 31, 2019, finance lease receivables consisted of the following: March 31, Gross minimum lease payments receivable $ 40,023 Less: Amounts representing estimated executory costs - Minimum lease payments receivable 40,023 Less Allowance for uncollectible minimum lease payments receivable - Net minimum lease payments receivable 40,023 Estimated residual value of leased automobiles - Less: Unearned interest (7,471 ) Financing lease receivables, net $ 32,552 Finance lease receivables, net, current portion $ 10,254 Finance lease receivables, net $ 22,298 Future scheduled minimum lease payments for investments in sales-type leases as of March 31, 2019 are as follows: Minimum future payments receivable Year ending March 31, 2020 $ 13,341 Year ending March 31, 2021 13,341 Year ending March 31, 2022 13,341 $ 40,023 (m) Property and equipment Property and equipment primarily consists of computer equipment, which is stated at cost less accumulated depreciation less any provision required for impairment in value. Depreciation is computed using the straight-line method with no residual value based on the estimated useful life. The useful life of property and equipment is summarized as follows: Computer equipment 2 - 5 years Office equipment 3 - 5 years Automobiles 4 years The Company reviews property and equipment for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. An asset is considered impaired if its carrying amount exceeds the future net undiscounted cash flows that the asset is expected to generate. If such asset is considered to be impaired, the impairment recognized is the amount by which the carrying amount of the asset, if any, exceeds its fair value determined using a discounted cash flow model. For the years ended March 31, 2019 and 2018, there was no impairment of property and equipment. Costs of repairs and maintenance are expensed as incurred and asset improvements are capitalized. The cost and related accumulated depreciation of assets disposed of or retired are removed from the accounts, and any resulting gain or loss is reflected in the consolidated income statements. (n) Intangible assets Purchased intangible assets are recognized and measured at fair value upon acquisition. Separately identifiable intangible assets that have determinable lives continue to be amortized over their estimated useful lives using the straight-line method as follows: Platform 7 years Customer relationship 10 years Software 5-7 years Separately identifiable intangible assets to be held and used are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. Determination of recoverability is based on an estimate of undiscounted future cash flows resulting from the use of the asset and its eventual disposition. Measurement of any impairment loss for identifiable intangible assets is based on the amount by which the carrying amount of the assets exceeds the fair value of the assets. As a result of declines in revenue and profitability of the online lending services, the Company performed an impairment analysis of its intangible assets as of March 31, 2019 and 2018 using the relief from royalty method. As a result of the analysis, the Company concluded that there was an impairment of its online lending platform and software and recorded a charge of $1,225,073 and $2,000,175 for the years ended March 31, 2019 and 2018, respectively. The impairment was largely due to a decrease in the long-term revenue projections. As of March 31, 2019 and 2018, the carrying value of the platform subsequent to the recording of the impairment charge was $1,107,616 and $2,492,976, respectively. As of March 31, 2019 and 2018, the carrying value of the software subsequent to the recording of the impairment charge was $80,856 and $84,545, respectively. (o) Goodwill Goodwill represents the excess of the purchase consideration over the fair value of the identifiable tangible and intangible assets acquired and liabilities assumed of the acquired entity or business as a result of the Company’s acquisitions of interests in its subsidiary, VIE and business. Goodwill is not amortized but is tested for impairment on an annual basis, or more frequently if events or changes in circumstances indicate that it might be impaired. The Company first assesses qualitative factors to determine whether it is necessary to perform the two-step quantitative goodwill impairment test. In the qualitative assessment, the Company considers primary factors such as industry and market considerations, overall financial performance of the reporting unit, and other specific information related to the operations. Based on the qualitative assessment, if it is more likely than not that the fair value of each reporting unit is less than the carrying amount, the quantitative impairment test is performed. In performing the two-step quantitative impairment test, the first step compares the fair values of each reporting unit to its carrying amount, including goodwill. If the fair value of each reporting unit exceeds its carrying amount, goodwill is not considered to be impaired and the second step will not be required. If the carrying amount of a reporting unit exceeds its fair value, the second step compares the implied fair value of goodwill to the carrying value of a reporting unit’s goodwill. The implied fair value of goodwill is determined in a manner similar to accounting for a business combination with the allocation of the assessed fair value determined in the first step to the assets and liabilities of the reporting unit. The excess of the fair value of the reporting unit over the amounts assigned to the assets and liabilities is the implied fair value of goodwill. This allocation process is only performed for the purposes of evaluating goodwill impairment and does not result in an entry to adjust the value of any assets or liabilities. Application of a goodwill impairment test requires significant management judgment, including the identification of reporting units, assigning assets, liabilities and goodwill to reporting units, and determining the fair value of each reporting unit. As a result of declines in revenue and profitability of the online lending services, the Company performed an impairment analysis of its goodwill arising from acquisition of the online lending business as of March 31, 2018 using a discounted cash flow analysis. As a result of the analysis, the Company concluded that there was an impairment of goodwill and recorded a charge of $6,179,206 for the year ended March 31, 2018. The impairment was largely due to a decrease in long-term revenue projections of the online lending services. As of March 31, 2019 and 2018, the carrying value of the goodwill subsequent to the recording of the impairment charge was $0 and $0. (o) Loss per share Basic loss per share is computed by dividing net loss attributable to stockholders by the weighted average number of outstanding shares of common stock, adjusted for outstanding shares of common stock that are subject to repurchase. For the calculation of diluted loss per share, net loss attributable to stockholders for basic loss per share is adjusted by the effect of dilutive securities, including share-based awards, under the treasury stock method. Potentially dilutive securities, of which the amounts are insignificant, have been excluded from the computation of diluted net loss per share if their inclusion is anti-dilutive. (p) Revenue recognition The Company adopted ASC 606, Revenue from Contracts with Customers (“ASC 606”), in the first quarter of 2019 using the modified retrospective approach. ASC 606 establishes principles for reporting information about the nature, amount, timing and uncertainty of revenue and cash flows arising from the entity's contracts to provide goods or services to customers. The core principle requires an entity to recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration that it expects to be entitled to receive in exchange for those goods or services recognized as performance obligations are satisfied. The Company has assessed the impact of the guidance by reviewing its existing customer contracts and current accounting policies and practices to identify differences that will result from applying the new requirements, including the evaluation of its performance obligations, transaction price, customer payments, transfer of control and principal versus agent considerations. Based on the assessment, the Company concluded that there was no change to the timing and pattern of revenue recognition for its current revenue streams in scope of ASC 606 and therefore there was no material changes to the Company's consolidated financial statements upon adoption of ASC 606. As of March 31, 2019, the Company had outstanding contracts for automobile transaction and related services amounting to $1,296,587, of which $580,775 is expected to be completed within 12 months after March 31, 2019, and $715,812 is expected to be completed during the 12 months ending March 31, 2020. For the Years Ended March 31, 2019 2018 Automobile Transaction and Related Services - Revenues from sales of automobiles 1,815,425 - - Service fees from automobile purchase services 407,632 - - Facilitation fees from automobile transactions 142,615 - - Service fees from management and guarantee services 60,011 - - Other service fees 125,424 - Online Lending Services - Transaction fees $ 331,960 $ 323,054 - Service fees 37,996 171,843 $ 2,921,063 $ 494,897 Automobile transaction and related services Sales of automobiles – Revenue from sales of automobiles to the customers of Jinkailong and the sales of automobiles to lessees by Hunan Ruixi under its sales-type leases. The control over the automobile is transferred to the purchaser along with the delivery of automobile. The amount of the revenue is based on the sale price agreed by Hunan Ruixi and the counterparties, including the leasees under sales-type leases and Jinkailong, who acts on behalf of its customers. The Company recognizes revenues when the automobile is delivered and control is transferred to the purchaser. Service fees from automobile purchase services– Services fees from automobile purchase services are paid by automobile purchasers for a series of the services provided to them throughout the purchase process such as credit assessment, preparation of financing application materials, assistance with closing of financing transactions, license and plate registration, payment of taxes and fees, purchase of insurance, installment of GPS devices, ride-hailing driver qualification and other administrative procedures.. The amount of these fees is based on the sales price of the automobiles and relevant services provided. The Company recognizes revenue when all the services are completed and the automobile is delivered to the purchaser. Facilitation fees from automobile transactions – Facilitation fees from automobile purchase transactions are paid by the Company’s customers including third-party sales teams or the automobile purchasers for the facilitation of the sales and financing of automobiles. The Company attracts automobile purchasers through third-party sales teams or its own sales department. For the sales facilitated between third-party sales teams and automobile purchasers, the Company charges the fees to the third-party sales teams, which derived from the commission paid by the automobile purchasers to the third-party sales teams. Relating to sales facilitated between automobile purchasers and dealers, the Company charges the fees to the automobile purchasers. The Company recognizes revenue from facilitation fees when the titles are transferred to the owners. The amount of fees is based on the type of automobile and negotiation with each sales team or automobile purchaser. The fees charged to third-party sales teams or automobile purchasers are paid before the automobile purchase transactions are consummated. These fees are non-refundable upon the delivery of automobiles. Service fees from management and guarantee services – Over 95% of the Company’s customers are drivers of Didi Chuxing Technology Co., Ltd., the largest ride-hailing service platform in China, who sign affiliation agreements with the Company, pursuant to which the Company provides them with management and guarantee services during the affiliation period. Service fees for management and guarantee services are paid by such automobile purchasers on a monthly basis for the management and guarantee services provided during the affiliation period. The Company recognizes revenue over the affiliation period when performance obligations are completed. Online Lending Services Transaction fees – Transaction fees are paid by borrowers to the Company for the work the Company performs through its platform. The amount of these fees is based upon the loan amount, maturity and the credit grade of borrowers. The fees charged to borrowers are paid upon (i) disbursement of the proceeds for loans which accrue interest on a monthly basis or (ii) full payment of principal and interest of loans which accrue interest on a daily basis. These fees are non-refundable upon the issuance of loan. The Company recognizes revenue when loan proceeds are disbursed to borrowers or borrowers pay their principal and interest on loans. Service fees — The Company charges investors service fees on their actual return of investment (interest income). The Company generally receives the service fees upon the investors’ receipt of their investment returns. The Company recognizes revenue when loans are repaid and investors receive their investment income. (q) Income taxes Deferred income tax liabilities and assets are recognized for the expected future tax consequences of temporary differences between the income tax basis and financial reporting basis of assets and liabilities. Provisions or benefits for income taxes consists of tax estimated from taxable income plus or minus deferred tax expenses (benefits) if applicable. Deferred tax is calculated using the balance sheet liability method in respect of temporary differences arising from differences between the carrying amount of assets and liabilities in the financial statements and the corresponding tax basis. Deferred tax assets are recognized to the extent that it is probable that taxable income will be utilized with prior net operating loss carried forwards using tax rates that are expected to apply to the period when the asset is realized or the liability is settled. Deferred tax is charged or credited in the income statement, except when it is related to items credited or charged directly to equity. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be utilized. Current income taxes are provided for in accordance with the laws of the relevant tax authorities. An uncertain tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. Penalties and interest incurred related to underpayment of income tax are classified as income tax expense in the period incurred. The Company did not have any significant unrecognized uncertain tax positions or any unrecognized liabilities, interest or penalties associated with unrecognized tax benefit as of March 31, 2019 and 2018. As of March 31, 2019, the tax years ended December 31, 2013 through 2018 for the Company’s PRC entities remain open for statutory examination by PRC tax authorities. (r) Comprehensive loss Comprehensive loss includes net loss and foreign currency adjustments. Comprehensive loss is reported in the consolidated statements of operations and comprehensive loss. Accumulated other comprehensive loss, as presented on the consolidated balance sheets are the cumulative foreign currency translation adjustments. As of March 31, 2019 and 2018, the balance of accumulated other comprehensive losses were $428,771 and $253,761, respectively. (s) Share-based awards Share-based awards granted to the Company’s employees are measured at fair value on grant date and share-based compensation expense is recognized (i) immediately at the grant date if no vesting conditions are required, or (ii) using the accelerated attribution method, net of estimated forfeitures, over the requisite service period. The fair value of restricted shares is determined with reference to the fair value of the underlying shares. At each date of measurement, the Company reviews internal and external sources of information to assist in the estimation of various attributes to determine the fair value of the share-based awards granted by the Company, including but not limited to the fair value of the underlying shares, expected life, expected volatility and expected forfeiture rates. The Company is required to consider many factors and make certain assumptions during this assessment. If any of the assumptions used to determine the fair value of the share-based awards changes significantly, share-based compensation expense may differ materially in the future from that recorded in the current reporting period. (t) Leases commitments Leases are classified as either capital or operating leases. Leases that transfer substantially all the benefits and risks incidental to the ownership of assets are accounted for as if there was an acquisition of an asset and incurrence of an obligation at the inception of the lease. All other leases are accounted for as operating leases expense and is included in the consolidated statements of operations on a straight-line basis over the term of the leases. The Company had no capital lease commitments for the years ended March 31, 2019 and 2018. (u) Significant risks and uncertainties 1) Credit risk a. Assets that potentially subject the Company to significant concentration of credit risk primarily consist of cash and cash equivalents. The maximum exposure of these assets to credit risk is their carrying amount as of the balance sheet dates. On March 31, 2019, approximately $1,950,000 was deposited with a bank in the United States which is insured by the U.S. government up to $250,000. On March 31, 2019 and 2018, approximately $ 3,070,000 The Company’s operations are carried out in mainland China. Accordingly, the Company’s business, financial condition and results of operations may be influenced by the political, economic and legal environments in the PRC as well as by the general state of the PRC’s economy. In addition, the Company’s business may be influenced by changes in government policies with respect to laws and regulations, anti-inflationary measures, currency conversion and remittance abroad, rates and methods of taxation and other factors. b. In measuring the credit risk of guarantee services to automobile purchasers, the Company primarily reflects the “probability of default” by the automobile purchasers on its contractual obligations and considers the current financial position of the automobile purchasers and its likely future development. The Company manages the credit risk of automobile purchasers by performing preliminary credit checks of each automobile purchaser and ongoing monitoring every month. By using the current credit loss model, management is of the opinion that the Company is bearing the credit risk to repay the principal and interests to the financial institutions if automobile purchasers default on their payments for more than three months. Management also periodically re-evaluates probability of default of automobile purchasers to make adjustments in the allowance when necessary. However, as the Company commenced the automobile transaction and related services for less than one year, there was no sufficient historic default data and other information to make an estimate on the expected credit losses. Historically, most of the automobile purchasers would pay the Company their previous defaulted amounts within one to three months. For the year ended March 31, 2019, the Company did not provide provisions for the guarantee services. As at March 31, 2019, the maximum contingent liabilities the Company exposed to would be $11,548,000 if all the automobile purchasers defaulted . Automobiles are used as collateral to secure the payment obligations of the automobile purchasers under the financing agreements. The Company estimated the fair market value of the collateral to be approximately $10,152,000 as at March 31, 2019, based on the market price and the useful life of such collateral, which represents about 88% of the contingent liabilities. c. In measuring the cr

ACQUISITION OF HUNAN RUIXI AND

ACQUISITION OF HUNAN RUIXI AND ITS VIE	12 Months Ended
	Mar. 31, 2019
ACQUISITION OF HUNAN RUIXI AND ITS VIE [Abstract]
Investment Holdings [Text Block]	3. ACQUISITION OF HUNAN RUIXI AND ITS VIE On November 21, 2018, the Company entered into the Investment Agreement with Hunan Ruixi and the Hunan Ruixi Shareholders. Pursuant to the Investment Agreement, among other things, the Company acquired from the Hunan Ruixi Shareholders an aggregate of 60% of the outstanding equity interest in Hunan Ruixi for no consideration. The Company closed the acquisition on November 22, 2018 and agreed to make a capital contribution of $6,000,000 to Hunan Ruixi, representing 60% of its registered capital, in accordance with the Investment Agreement. As of March 31, 2019, the Company made $5,000,000 to Hunan Ruixi. The Company is entitled to vote and receive profits based on its equity interest ownership in Hunan Ruixi and has a right of first refusal for any issuance of new equity of Hunan Ruixi. The acquisition had been accounted for as a business combination and the results of operations of Hunan Ruixi have been included in the Company's consolidated financial statements from the acquisition date. The Company made estimates and judgments in determining the fair value of acquired assets and liabilities, based on an independent valuation report and management's experiences with similar assets and liabilities. 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) $ 63,965 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 $1,813,821, property and equipment of $107,865, other current liabilities of $711,303 and borrowings from related parties and affiliates of $785,231, and borrowings from financial institutions of $554,802. (ii) Fair value of the noncontrolling interests is estimated with reference to the purchase price per share as of the acquisition date.

ACCOUNTS RECEIVABLE

ACCOUNTS RECEIVABLE	12 Months Ended
	Mar. 31, 2019
Receivables [Abstract]
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	4. ACCOUNTS RECEIVABLE The classification of accounts receivable is based on whether the due date is within 12 months from the initiation of the transaction. As of March 31, 2019 and 2018, accounts receivable were comprised of the following: March 31, 2019 March 31, 2018 Receivables of transaction fees due from borrowers $ 126,272 $ - Receivables of services fees due from automobile purchasers 199,909 - Less: Allowance for doubtful accounts - - $ 326,181 $ - As of March 31, 2019, the management evaluated individual customer’s financial condition, credit history and the current economic conditions and determined no allowance for doubtful accounts was necessary for accounts receivable.

INVENTORIES

INVENTORIES	12 Months Ended
	Mar. 31, 2019
Inventory Disclosure [Abstract]
Inventory Disclosure [Text Block]	5. INVENTORIES March 31, 2019 March 31, 2018 Automobiles (i) $ 1,508,244 $ - (i) As of March 31, 2019, the Company owned 41 automobiles with a total value of $670,122 for leasing purposes and 93 automobiles with a total value of $838,122 for sale. As of March 31, 2019, the management compared the cost of automobiles with their net realizable value and determined no inventory write-down was necessary for these automobiles.

PREPAYMENTS, RECEIVABLES AND OT

PREPAYMENTS, RECEIVABLES AND OTHER ASSETS	12 Months Ended
	Mar. 31, 2019
Receivables [Abstract]
Prepayments Receivables And other Assets [Text Block]	6. PREPAYMENTS, RECEIVABLES AND OTHER ASSETS As of March 31, 2019 and 2018, the prepayments, receivables and other assets were comprised of the following: March 31, 2019 March 31, 2018 Due from automobile purchasers (i) $ 2,564,834 $ - Prepayments for automobiles (ii) 394,821 Deposits 294,986 - Value added tax (“VAT”) recoverable (iii) 228,196 - Deferred issuance costs pursuant to Registration Statement on Form S-3 (iv) 149,696 - Prepaid expenses 112,147 44,861 Loans to employees - 2,718 Others 48,788 22,842 $ 3,793,468 $ 70,421 (i) Due from automobile purchasers The balance due from automobile purchasers represented the payment of automobiles and related insurances and taxes made on behalf of the automobile purchasers. The balance is expected to be collected from the automobile purchasers in installments. As of March 31, 2019, the Company recorded allowance of $ 2,995 (ii) Prepayments for automobiles The balance represented amounts advanced to dealers for automobiles and to other third parties for automobiles related taxes and insurances. (iii) VAT recoverable The balance of VAT recoverable represented the amount to be utilized to offset the Company’s future value added taxes arising from sales of goods. (iv) Deferred issuance costs pursuant to Registration Statement on Form S-3 On April 15, 2019, the Company’s Registration Statement on Form S-3 registering up to $80,000,000 in aggregate principal amount of its common stock, preferred stock, debt securities, warrants, rights and/or units were declared effective. The deferred issuance costs pursuant to Form S-3 represented the direct and incremental costs related to the registered offering closed on June 21, 2019. The would be netted against the gross proceeds of the offering on the effective date of the offering.

INTANGIBLE ASSETS, NET

INTANGIBLE ASSETS, NET	12 Months Ended
	Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets Disclosure [Text Block]	7. INTANGIBLE ASSETS, NET As of March 31, 2019 and 2018, the intangible assets consisted of customer relationship, platform and software. Useful life March 31, 2019 March 31, 2018 Customer relationship 10 $ 392,618 $ 419,573 Platform 7 1,107,616 2,492,976 Software 5 7 80,856 84,545 1,581,090 2,997,094 Less: Accumulated amortization (1,284,999 ) (1,043,871 ) Intangible assets, net $ 296,091 $ 1,953,223 Amortization expense totaled $308,043 and $659,558 for the years ended March 31, 2019 and 2018, respectively. For the years ended March 31, 2019 and 2018, the Company recorded impairment loss of $1,225,073 on the platform and the related software, and $2,000,175 on the platform, respectively. The following table sets forth the Company’s amortization expenses for the five years ending March 31: Amortization expenses Twelve months ending March 31, 2020 $ 39,610 Twelve months ending March 31, 2021 39,610 Twelve months ending March 31, 2022 39,610 Twelve months ending March 31, 2023 39,610 Twelve months ending March 31, 2024 and thereafter 137,651 $ 296,091

PREPAYMENTS FOR INTANGIBLE ASSE

PREPAYMENTS FOR INTANGIBLE ASSETS	12 Months Ended
	Mar. 31, 2019
PREPAYMENTS FOR INTANGIBLE ASSETS [Abstract]
Prepayments Intangible assets [Text Block]	8. PREPAYMENTS FOR INTANGIBLE ASSETS As of March 31, 2019, the balance of prepayments for intangible assets of $470,706 represented the advance payments for the development of software to be used in the Company’s online lending platform of $190,706 and the software to be used in the automobile transaction and related services of $280,000. The balance will be recognized as intangible assets and amortized over the estimated useful life upon the completion of installation and testing of the software.

BORROWINGS FROM FINANCIAL INSTI

BORROWINGS FROM FINANCIAL INSTITUTIONS, CURRENT AND NONCURRENT	12 Months Ended
	Mar. 31, 2019
BORROWINGS FROM FINANCIAL INSTITUTIONS CURRENT AND NONCURRENT [Abstract]
Debt Disclosure [Text Block]	9. BORROWINGS FROM FINANCIAL INSTITUTIONS, CURRENT AND NONCURRENT The borrowings from certain financial institutions represented the difference between the actual proceeds disbursed by the financial institutions to Jinkailong and the total principal to be responsible for and repaid by the automobile purchasers. $ 396,946 at March 31, 2019, of which $177,789 is to be repaid over a period of 13 to 24 months. The interest expense for the year ended March 31, 2019 was $12,799.

BORROWINGS FROM THIRD PARTIES

BORROWINGS FROM THIRD PARTIES	12 Months Ended
	Mar. 31, 2019
Due To Third Parties [Abstract]
Borrowings From Third Parties [Text Block]	10. BORROWINGS FROM THIRD PARTIES March 31, 2019 March 31, 2018 Borrowings from third parties $ 476,765 $ - The borrowings from third parties bear an interest rate of 7.89% per annum and are due from June 2019 through July 2019. The interest expense for the year ended March 31, 2019 was $7,590.

ACCRUED EXPENSES AND OTHER LIAB

ACCRUED EXPENSES AND OTHER LIABILITIES	12 Months Ended
	Mar. 31, 2019
Payables and Accruals [Abstract]
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	11. ACCRUED EXPENSES AND OTHER LIABILITIES March 31, 2019 March 31, 2018 Accrued payroll and welfare $ 614,765 $ 195,695 Other payable (i) 247,335 194,943 Loan repayments received on behalf of financial institutions (ii) 169,657 - Payables for expenditures on automobile transaction and related services 157,382 - Accrued expenses 198,456 - Customer deposits 82,232 8,495 Other taxes payable 30,976 5,471 $ 1,500,803 $ 404,604 (i) The balance of other payable represented amount due to suppliers and vendors for operation purposes. (ii) The balance of loan repayments received on behalf of financial institutions represented the loan repayments made by the automobile purchasers to financial institutions through the Company, which has not been paid to the financial institutions as of March 31, 2019.

EMPLOYEE BENEFIT PLAN

EMPLOYEE BENEFIT PLAN	12 Months Ended
	Mar. 31, 2019
Retirement Benefits [Abstract]
Pension and Other Postretirement Benefits Disclosure [Text Block]	12. EMPLOYEE BENEFIT PLAN The Company has made employee benefit contributions in accordance with relevant PRC regulations, including retirement insurance, unemployment insurance, medical insurance, housing fund, work injury insurance and maternity insurance. The Company has recorded the contribution in salary and employee charges when incurred. The contributions made by the Company were $106,301 and $37,136 for the years ended March 31, 2019 and 2018, respectively. As of March 31, 2019 and 2018, the Company did not make adequate employee benefit contributions in the amount of $403,646 and $150,205. The Company accrued the amount in accrued payroll and welfare.

EQUITY

EQUITY	12 Months Ended
	Mar. 31, 2019
Stockholders' Equity Note [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	13. EQUITY Warrants The registration statement relating to the Company’s IPO also included the underwriters’ common stock purchase warrants to purchase 337,940 shares of common stock (“ Warrants”). Each five-year warrant entitles warrant holder to purchase one share of the Company’s common stock at the price of $4.80 per share and is not exercisable for a period of 180 days from March 16, 2018. 37,940 Restricted Stock Units On July 31, 2018, the board of directors of the Company approved the issuance of 5,000 As of March 31, 2019, the first installment of RSUs has vested and the Company accounted for the vested RSUs as an addition to both expenses and additional paid-in capital. The fair value of the vested RSUs is calculated at the grant date market price of the Company’s common stock multiplying by the number of vested shares. A summary of RSU activity for the year ended March 31, 2019 is as follows: Number of Shares Weighted-Average Grant Date Fair Value Balance of RSUs outstanding at March 31, 2018 - - Grants of RSUs 25,000 4.42 Vested RSUs (6,250 ) 4.42 Forfeited RSUs (7,500 ) 4.42 Balance of unvested RSUs at March 31, 2019 11,250 $ 4.42 Total compensation expense for the year ended March 31, 2019 was approximately $44,200. Two directors ceased to serve on the board since November 8, 2018, and as a result 7,500 RSUs were forfeited during the year ended March 31, 2019. As of March 31, 2019, the other three directors remained on the board and the Company has an aggregate of 11,250 of unrecognized RSUs as of March 31, 2019 to be expensed over a weighted average period of six months. Equity Incentive Plan At the 2018 Annual Meeting of Stockholders of the Company held on November 8, 2018, the Company’s stockholders approved the Company’s 2018 Equity Incentive Plan for employees, officers, directors and consultants of the Company and its affiliates. A committee consisting of at least two independent directors appointed by the board of directors or in the absence of such a committee, the board of directors, will be responsible for the general administration of the Equity Incentive Plan. All awards granted under the Equity Incentive Plan will be governed by separate award agreements between the Company and the participants. As of the date of this report, no awards have been granted under the plan. Registered Direct Offering On April 15, 2019, the Securities and Exchange Commission (“SEC”) declared effective the Company’s Registration Statement on Form S-3, pursuant to which, along with the accompanying prospectus, the Company registered up to $80,000,000 in aggregate principal amount of its common stock, preferred stock, debt securities, warrants, rights and/or units. On June 21, 2019, the Company closed a registered direct public of an aggregate of 1,781,361 1,336,021 The Series A warrants are exercisable immediately upon issuance at an exercise price of $3.72 The Series B warrants are pre-funded warrants and are being issued as a true-up with respect to the shares of common stock. The maximum aggregate number of shares of common stock issuable upon exercise of the Series B warrants is 1,116,320. Initially, the Series B warrants shall not be exercisable for any shares of common stock. In that event that on the fiftieth (50th) day after the closing date (the “Adjustment Measuring Time”), the closing price of the common stock is less than the Share Purchase Price, then the number of shares of common stock issuable upon exercise of the Series B warrants shall be adjusted (upward or downward, as applicable) to the greater of (i) zero (0) and (ii) such aggregate number of shares of common stock equal to fifty percent (50%) of the difference of (A) the quotient of (x) the Share Purchase Price divided by (y) as of the Adjustment Measuring Time, less (B) the aggregate number of shares of common stock issued to the investors at the closing (as adjusted for share splits, share dividends, share combinations, recapitalizations and similar events).

INCOME TAXES

INCOME TAXES	12 Months Ended
	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	14. INCOME TAXES The United States of America The Company is incorporated in the State of Nevada in the U.S., and is subject to U.S. federal corporate income taxes. The State of Nevada does not impose any state corporate income tax. On December 22, 2017, the Tax Cuts and Jobs Act of 2017 (the “Tax Act”) was signed into law, which has made significant changes to the Internal Revenue Code. Those changes include, but are not limited to, a U.S. corporate tax rate decrease from 35% to 21 Additionally, the Tax Act imposes a one-time transition tax on deemed repatriation of historical earnings of foreign subsidiaries, and future foreign earnings are subject to U.S. taxation. The change in rate has caused the Company to reevaluate all U.S. deferred income tax assets and liabilities for temporary differences and net operating loss carryforwards and recorded one time income tax payable to be paid in 8 years The Company’s net operating loss for the year ended March 31, 2019 amounted to approximately $1.09 million. As of March 31, 2019, the Company’s net operating loss carryforward for U.S. income taxes was approximately $1.07 million. The net operating loss carryforward is available to reduce future years’ taxable income through year 2037. Management believes that the utilization of the benefit from this loss appears uncertain due to the Company’s operating history. Accordingly, the Company has recorded a 100% valuation allowance on the deferred tax asset to reduce the deferred tax assets to zero on the consolidated balance sheets. As of March 31, 2019 and 2018, valuation allowances for deferred tax assets were approximately $0.27 million and $0.04 million, respectively. Management reviews the valuation allowance periodically and makes changes accordingly. PRC Senmiao Consulting and Sichuan Senmiao are subject to PRC Enterprise Income Tax (“EIT”) on the taxable income in accordance with the relevant PRC income tax laws. The EIT rate for companies operating in the PRC is 25%. Income taxes in the PRC are consist of: For the Years Ended March 31, 2019 2018 Current income tax expenses $ 21,905 $ - Deferred income tax expenses - - $ 21,905 $ - As of March 31, 2019 and 2018, the Company had net operating loss carryforwards of $4,793,657 and $1,512,341, respectively, which will expire in 2023. The Company reviews deferred tax assets for a valuation allowance based upon whether it is more likely than not that the deferred tax asset will be fully realized. At March 31, 2019 and 2018, full valuation allowance is provided against the deferred tax assets based upon management’s assessment as to their realization. The tax effects of temporary differences from continuing operations that give rise to the Company’s deferred tax assets are as follows: March 31, 2019 March 31, 2018 Net operating loss carryforwards in the PRC $ 886,176 $ 378,085 Net operating loss carryforwards in the U.S. 272,258 43,021 Less: valuation allowance (1,158,434 ) (421,106 ) $ - $ - Below is a reconciliation of the statutory tax rate to the effective tax rate: For the Years Ended March 31, 2019 2018 PRC statutory tax rate $ 25 % $ 25 % Tax rate difference in other jurisdiction (1.0 )% (0.1 )% Non-deductible expenses (0.1 )% 0 % Non-deductible impairments for intangibles and goodwill (6.7 )% (22.5 )% Valuation allowance on deferred income tax asset (17.7 )% (2.4 )% $ (0.5 )% $ 0 %

RELATED PARTY TRANSACTIONS AND

RELATED PARTY TRANSACTIONS AND BALANCES	12 Months Ended
	Mar. 31, 2019
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	15. RELATED PARTY TRANSACTIONS AND BALANCES 1. Related Party Balances 1) Due from related parties All balances due from related parties represent operation costs of these related parties paid by the Company on behalf of them, amounts received by the Company on behalf of a related party for refund of insurance claims, and amounts collected by these related parties on behalf of the Company from the automobile purchasers, including certain installment payments and facilitation fees. The balances due from related parties were all non-interest bearing and due on demand. 2) Due to stockholders This is comprised of amounts payable to two stockholders in 2019 (three in 2018) and are unsecured, interest free and due on demand. 3) Due to related parties and affiliates March 31, 2019 March 31, 2018 Loan payable to related parties (i) $ 95,781 $ - Other payables due to related parties (ii) 297,978 - Others 22,172 - $ 415,931 $ - (i) As of March 31, 2019, the balances represented borrowings from the two related parties. Both balances have an interest rate of 10 2,579 (ii) As of March 31, 2019, the balance represented borrowings from two related parties, who obtained borrowings from the online P2P lending platform of Sichuan Senmiao and then loaned the money to Jinkailong. Both balances have an interest rate of 8.22 2 Related Party Transactions Management and pre-IPO stockholders of the Company have invested in loans through the platform using their personal funds. The Company received service fees from its management and stockholders in the amount of $530 and $1,363, respectively, for the years ended March 31, 2019 and 2018. In December 2017, the Company entered into loan agreements with two stockholders, who agreed to grant a line of credit of approximating $955,000 and $159,000, respectively, for five years to the Company. The line of credit was non-interest bearing, effective from January 2017. During the year ended March 31, 2019, the Company repaid $500,000 to one of the stockholders. During the year ended March 31, 2019, the Company paid listing expenses and stamp taxes on behalf of two stockholders who agreed to pay part of the Company’s IPO expenses, in the amount of $62,806 and $7,881, respectively. The Company accounted for those expenses as a deduction against the amount due to the stockholders. During the year end March 31, 2017, the Company entered into two office lease agreements with a stockholder, both with the same term from January 1, 2017 to January 1, 2020. For the year ended March 31, 2019 and 2018, the Company paid $113,742 and $86,405 in rent, respectively, to the stockholder. In November 2018, Hunan Ruixi entered into an office lease agreement with Hunna Dingchentai Investment Co., Ltd. ("Dingchentai"), a company where one of our independent directors serves as legal representative and general manager. The term of the lease agreement is from November 1, 2018 to October 31, 2023 and the rent is approximately $ 44,250 Before the acquisition of Hunan Ruixi, five related parties of Jinkailong borrowed funds of $ 747,647 442,132 Name of related parties Relationship with the Company Loan amount Outstanding balance Chengdu Mashangchuxing Automobile Leasing Co., Ltd. An entity controlled by Ms. Xi Yang and Mr. Yiqiang He (i) 149,529 148,989 Sichuan Yudinxin Huanya Technology Co., Ltd. An entity over which Ms. Xi Yang owns 45% shareholding and exercises significant influence 149,529 148,989 Chengdu Laobingchuxing Automobile Leasing Co., Ltd. An entity controlled by Ms. Xi Yang 149,529 - Sichuan Dinhengxin Automobile Services Co., Ltd. Ms. Xi Yang 149,529 - Chengdu Jinkailong Automobile Sales Co., Ltd. An entity controlled by Mr. Xiaoliang Chen (ii) 149,529 - (i) Mr. Yiqiang He is a principal shareholder of Jinkailong. Ms. Xi Yang is his spouse. (ii) Mr. Xiaoliang Chen is a principal shareholder of Jinkailon Those loans bore interest rates ranging from 7.68% to 8.22% per annum and the interest expense for the year ended March 31, 2019 was $7,047. Before the acquisition of Hunan Ruixi, Jinkailong obtained a loan through 8.22% per annum and the interest expense for the year ended March 31, 2019 was $3,863.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	16. COMMITMENTS AND CONTINGENCIES 1) Lease Commitments During the year ended March 31, 2019, the Company terminated five lease agreements for its offices and three apartments expiring through January 20, 2020. No penalties were imposed upon the termination of these lease agreements. In addition, the Company leased its offices under nine lease agreements expiring through December 2023 and leased three apartments for management members under three leases expiring through May 2020. The following table sets forth the Company’s lease obligations as of March 31, 2019 in future periods: Rental payments Year ending March 31, 2020 $ 206,552 Year ending March 31, 2021 145,108 Year ending March 31, 2022 32,407 Year ending March 31, 2023 6,150 Year ending March 31, 2024 and thereafter 1,614 $ 391,831 Rental expenses totaled $195,686 and $122,741 for the years ended March 31, 2019 and 2018, respectively. 2) Purchase Commitments As of March 31, 2019, Hunan Ruixi entered a purchase contract with an automobile dealer for the purchase of a total 50 automobiles in the aggregate purchase price of approximately $0.3 million. Subsequent to March 31, 2019 through the date of issuance of these financial statements, Hunan Ruixi entered into another six purchase contracts with automobile dealers for the purchase of a total 226 $2.7 million. Yicheng Financial Leasing Co., Ltd., a wholly owned subsidiary of the Company formed in May 2019, entered into two purchase contracts with automobile dealers for the purchase of a total 450 4.8

SEGMENT INFORMATION

SEGMENT INFORMATION	12 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	17. SEGMENT INFORMATION The Company presents segment information after elimination of inter-company transactions. In general, revenue, cost of revenue and operating expenses are directly attributable, or are allocated, to each segment. The Company allocates costs and expenses that are not directly attributable to a specific segment, such as those that support infrastructure across different segments, to different segments mainly on the basis of usage, revenue or headcount, depending on the nature of the relevant costs and expenses. The Company does not allocate assets to its segments as the CODM does not evaluate the performance of segments using asset information. The following tables present the summary of each segment's revenue, loss from operations, loss before income taxes and net loss which is considered as a segment operating performance measure, for the year ended March 31, 2019: For the Years Ended March 31, 2019 Online Lending Services Automobile Transaction and Related Services Unallocated Consolidated Revenues $ 369,956 $ 2,551,107 $ - $ 2,921,063 Income / (Loss) from operations $ (3,378,157 ) $ 87,890 $ (1,158,645 ) $ (4,448,912 ) Loss before income taxes $ (3,358,842 ) $ (9,942 ) $ (1,151,836 ) $ (4,520,620 ) Net loss $ (3,358,842 ) $ (31,847 ) $ (1,151,836 ) $ (4,542,525 ) Details of the Company's revenue by segment are set out in Note 2(p). As of March 31, 2019, the Company’s total assets were comprised of $1,695,391 for online lending services, $7,580,070 for automobile transaction and related services, and $3,038,674 unallocated. As substantially all of the Company's long-lived assets are located in the PRC and substantially all of the Company's revenue is derived from within the PRC, no geographical information is presented.

PARENT-ONLY FINANCIALS

PARENT-ONLY FINANCIALS	12 Months Ended
	Mar. 31, 2019
Condensed Financial Information Disclosure [Abstract]
Condensed Financial Information of Parent Company Only Disclosure [Text Block]	18. PARENT-ONLY FINANCIALS SENMIAO TECHNOLOGY LIMITED CONDENSED BALANCE SHEETS March 31, 2019 March 31, 2018 ASSETS Current Assets Cash and cash equivalents $ 1,950,347 $ 10,961,071 Due from investors 1,900,000 - Prepayments, receivables and other assets 208,327 39,964 Escrow receivable 600,000 - Total Current Assets 4,658,674 11,001,035 Other Assets Prepayments for intangible assets 280,000 - Escrow receivable - 1,200,000 Investments in subsidiaries 3,726,240 830,562 Total Assets $ 8,664,914 $ 13,031,597 LIABILITIES AND EQUITY Total Liabilities $ 282,172 $ 152,927 Stockholders' Equity Common stock (par value $ 0.0001 100,000,000 25,945,255 2,595 2,588 Additional paid-in capital 23,833,112 23,611,512 Accumulated deficit (15,031,538 ) (10,481,669 ) Accumulated other comprehensive loss (428,771 ) (253,761 ) Total Stockholders’ Equity 8,375,398 12,878,670 Noncontrolling interests 7,344 - Total Equity 8,382,742 12,878,670 Total Liabilities and Equity $ 8,664,914 $ 13,031,597 SENMIAO TECHNOLOGY LIMITED CONDENSED STATEMENTS OF OPERATIONS For the Years Ended March 31, 2019 2018 General and administrative expenses $ (1,098,416 ) $ (204,864 ) Other income, net 6,810 - Equity of losses in subsidiaries (3,450,919 ) (9,654,108 ) Net loss (4,542,525 ) (9,858,972 ) Net income attributable to noncontrolling interests (7,344 ) - Foreign currency translation adjustment (175,010 ) 854,001 Comprehensive loss attributable to stockholders $ (4,724,879 ) $ (9,004,971 ) SENMIAO TECHNOLOGY LIMITED CONDENSED STATEMENTS OF CASH FLOWS For the Years Ended March 31, 2019 2018 Cash Flows from Operating Activities Net loss $ (4,542,525 ) $ (9,858,972 ) Adjustments to reconcile net loss to net cash used in operating activities: Equity of losses of subsidiaries 3,450,919 9,654,108 Changes in operating assets and liabilities: Prepayments, receivables and other assets (168,362 ) (39,964 ) Accrued expenses and other liabilities 129,090 81,927 Cash Flows Used in Operating Activities (1,130,948 ) (162,901 ) Cash Flows from Investing Activities: Deposits in intangible assets (280,000 ) - Working capital contribution for subsidiaries (6,300,000 ) - Cash Flows Used in Investing Activities (6,580,000 ) - Cash Flows from Financing Activities: Net Proceeds from issuance of common stock in initial public offering - 9,641,604 Proceeds from exercise of the underwriter’s overallotment option - 1,411,368 Proceeds borrowed from stockholders 154 71,000 Repayment of borrowing to stockholders (1,900,000 ) - Release of escrow 600,000 - Cash Flows (Used in) Provided by Financing Activities (1,299,846 ) 11,123,972 Net (decrease) increase in cash and cash equivalents (9,010,724 ) 10,961,071 Cash and cash equivalents, beginning of the year 10,961,071 - Cash and cash equivalents, end of the year $ 1,950,347 $ 10,961,071 Supplemental Cash Flows Information: Income tax paid $ - $ - Interest paid $ - $ - Non-cash Investing and Financing Activities: IPO issuance costs net against additional paid-in capital $ - $ 1,264,628 Escrow in connection with IPO $ - $ 1,200,000 IPO expenses paid by the Company’s stockholders $ 70,687 $ 67,277 a) Basis of presentation The condensed financial information of Senmiao Technology Limited, has been prepared using the same accounting policies as set out in the consolidated financial statements. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted by reference to the consolidated financial statements. b) Investments in subsidiaries and equity of loss in subsidiaries The investments in subsidiaries consist of investments in and Hunan Ruixi. The equity losses in subsidiaries consist of equity loss in and Hunan Ruixi. c) Stockholders’ equity On September 18, 2017, the Company issued an aggregate of 45,000,000 shares of common stock to the Sichuan Senmiao Shareholders. The Company recorded $4,500 for the issuance of the shares. On January 29, 2018, the Company’s board of directors and stockholders approved a one-for-two reverse stock split On March 16, 2018, the Company closed its IPO of 3,000,000 shares of common stock. On March 28, 2018, the Company sold additional 379,400 shares of common stock upon exercise of the underwriter’s over-allotment option. The public offering price of the shares sold in the IPO was $4.00 per share. The total gross proceeds from the offering were approximately $13.5 million. After deducting underwriting discounts and commissions and offering expenses payable by the Company, the aggregate net proceeds received by the Company totaled approximately $12.2 million. On July 31, 2018, the board of directors of the Company approved the issuance of 5,000 RSUs to each of the five directors as stock compensation for their services for the Company’s fiscal year ending March 31, 2019. Total RSUs granted to the five directors were 25,000 for an aggregate fair value of $117,750. Pursuant to the Award Agreements signed by the Company and each director on August 3, 2018, the RSUs vest in four equal quarterly installments on August 3, 2018, April 1, 2019, July 1, 2019 and October 1, 2019 or in full upon the occurrence of a change in control of the Company, subject to the terms and conditions set forth in the Award Agreements, provided that the director remains in service as a director through the applicable vesting date. Two directors ceased to serve on the board since November 8, 2018, and as a result 7,500 RSUs were forfeited during the year ended March 31, 2019. The Company has an aggregate of 11,250 of unrecognized RSUs as of March 31, 2019 to be expensed over a weighted average period of six

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Mar. 31, 2019
Subsequent Events [Abstract]
Subsequent Events [Text Block]	19. SUBSEQUENT EVENTS 1) Formation of a new subsidiary The Company formed a wholly owned subsidiary, Yicheng Financial Leasing Co., Ltd. ("Yicheng”), with a registered capital of $50 million in Chengdu in May 2019. Yicheng obtained its business licenses of automobiles sale and financial leasing on May 5, 2019. Yicheng has been engaged in automobile sales since June 2019. 2) Entry into a material definitive agreement On May 16, 2019, Jinkailong entered into a business cooperation agreement (the “Intercity Agreement”) with Sichuan Feiniu Automobile Transportation Co., Ltd. (“Feiniu”), a provider of intercity passenger transportation and freight logistics services. Pursuant to the Intercity Agreement, among other things and subject to the terms and conditions contained therein, Jinkailong agreed to provide automobile and driver sourcing as Feiniu’s exclusive business partner for Feiniu’s intercity carpool business in Chengdu, Sichuan Province, China from May 16, 2019 to May 15, 2022. In return, Feiniu agreed to pay Jinkailong 30% of the consulting service fee Feiniu receives under the Didi Agreement for the proportion of automobiles supplied by Jinkailong. For any delay in payment, Feiniu shall pay to Jinkailong a daily penalty fee of 0.01% of its monthly payment to Jinkailong. In addition, during the term of the Intercity Agreement, Jinkailong agreed to refer no less than 30% of its customers to subscribe Feiniu’s automobile management services, including automobile purchase, title registration, insurance purchase and financing. 3) Employment agreement with Mr. Xi Wen On May 26, 2019, the board of directors of the Company approved a compensation package (“Compensation Arrangement”) for Xi Wen, Chief Executive Officer of the Company and Executive Director of Sichuan Senmiao. On May 27, 2019, the Company and Mr. Wen entered into an employment agreement (the “Employment Agreement”) to memorialize the Compensation Arrangement and the other terms of Mr. Wen’s continuing employment with the Company and Sichuan Senmiao. Under the Compensation Arrangement, Mr. Wen is entitled to (i) an annual salary of US$100,000 for his service as Chief Executive Officer of the Company, payable quarterly in arrears, starting upon the Company’s receipt of proceeds from a financing of at least $1,000,000 an annual salary of RMB 600,000 (approximately US$86,877) for his service as the Executive Director for Sichuan Senmiao, payable monthly in arrears starting upon the Company’s receipt of proceeds from a financing of at least $1 million cash bonus of up to US$50,000 for his services as Chief Executive Officer of the Company for the fiscal year ending March 31, 2020 upon satisfaction of the performance targets as reviewed by the Compensation Committee. Under the Employment Agreement, Mr. Wen is entitled to the compensation as described above, and is also entitled to participate in the Company’s equity incentive plans and other Company benefits (including health insurance, vacation and expense reimbursement), each in accordance with the Company’s policies as determined by the board of directors from time to time. The Employment Agreement has an initial term of three years and is subject to successive, automatic one-year extensions unless either party gives notice of non-extension to the other party at least 30 days prior to the end of the applicable term. 4) Closing of a registered direct offering On June 21, 2019, the Company closed a registered direct public offering of an aggregate of 1,781,361 shares of common stock, and in connection therewith, issued to the investors (i) for no additional consideration, Series A warrants to purchase up to an aggregate of 1,336,021 shares of common stock and (iii) for nominal additional consideration, Series B warrants to purchase up to a maximum aggregate of 1,116,320 shares of common stock. The Company sold the shares of common stock at a price of $3.38 per share. The Company received gross proceeds from the offering, before deducting estimated offering expenses payable by the Company, of approximately $6,000,000.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	(a) Basis of presentation The accompanying consolidated financial statements of the Company has been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”).
Consolidation, Policy [Policy Text Block]	(b) Basis of consolidation The consolidated financial statements include the accounts of the Company and include the assets, liabilities, revenues and expenses of the subsidiaries and VIEs. All inter-company accounts and transactions have been eliminated in consolidation.
Reclassification, Policy [Policy Text Block]	(c) Reclassification Certain items in the consolidated financial statements of comparative period have been reclassified to conform to the consolidated financial statements for the current period.
Foreign Currency Transactions and Translations Policy [Policy Text Block]	(d) Foreign currency translation Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing on the dates of the transaction. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency using the applicable exchange rates on the date of the balance sheet. The resulting exchange differences are recorded in the statement of operations. The reporting currency of the Company and its subsidiaries is U.S. dollars (“US$”) and the accompanying consolidated financial statements have been expressed in US$, because that is the primary and functional currency where all entities operate. In general, for consolidation purposes, assets and liabilities of the Company and its subsidiaries whose functional currency is not the US$, are translated into US$, using the exchange rate on the balance sheet date. Revenues and expenses are translated at average rates prevailing during the period. The gains and losses resulting from translation of financial statements of the Company and its subsidiaries are recorded as a separate component of accumulated other comprehensive income within the statement of stockholders’ equity. Translation of amounts from RMB into US$ has been made at the following exchange rates for the respective periods: March 31, 2019 March 31, 2018 Balance sheet items, except for equity accounts 6.7119 6.2807 For the Years Ended March 31, 2019 2018 Items in the statements of operations and comprehensive loss, and statements of cash flows 6.7126 6.6269
Use of Estimates, Policy [Policy Text Block]	(e) Use of estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities on the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. On an ongoing basis, management reviews these estimates and assumptions using the currently available information. Changes in facts and circumstances may cause the Company to revise its estimates. The Company bases its estimates on past experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Estimates are used when accounting for items and matters including, but not limited to, revenue recognition, residual values, lease classification, inventory obsolescence, determinations of the useful lives and valuation of long-lived assets, estimates of allowances for doubtful accounts and prepayments, estimates of impairment of intangible assets, valuation of deferred tax assets, estimated fair value used in business acquisitions and other provisions and contingencies.
Fair Value of Financial Instruments, Policy [Policy Text Block]	(f) Fair values of financial instruments Accounting Standards Codification (“ASC”) Topic 825, Financial Instruments (“Topic 825”) requires disclosure of fair value information of financial instruments, whether or not recognized in the balance sheets, for which it is practicable to estimate that value. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Topic 825 excludes certain financial instruments and all nonfinancial assets and liabilities from its disclosure requirements. Accordingly, the aggregate fair value amounts do not represent the underlying value of the Company. Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the assets or liability, either directly or indirectly, for substantially the full term of the financial instruments. Level 3 inputs to the valuation methodology are unobservable and significant to the fair value. As of March 31, 2019 and 2018, financial instruments of the Company comprised primarily current assets and current liabilities including cash and cash equivalents, accounts receivable, finance lease receivables and other assets, escrow receivables , due from related parties, borrowings from financial institutions, other liabilities, due to stockholders and due to related parties and affiliates, which approximate their fair values because of the short-term nature of these instruments, and noncurrent liabilities of borrowings from financial institutions, which approximate their fair values because of the stated loan interest rate to the rate charged by similar financial institutions. The finance lease receivables were recorded at gross adjusted for the deferred interest income using the effective interest rate method. The Company believes that the effective interest rates underlying the finance lease receivables approximates current market rates for such finance leasing products as of March 31, 2019.
Business Combinations Policy [Policy Text Block]	(g) Business combinations and noncontrolling interests The Company accounts for its business combinations using the acquisition method of accounting in accordance with ASC 805 "Business Combinations." The cost of an acquisition is measured as the aggregate of the acquisition date fair value of the assets transferred to the sellers and liabilities incurred by the Company and equity instruments issued. Transaction costs directly attributable to the acquisition are expensed as incurred. Identifiable assets and liabilities acquired or assumed are measured separately at their fair values as of the acquisition date, irrespective of the extent of any noncontrolling interests. The excess of (i) the total costs of acquisition, fair value of the noncontrolling interests and acquisition date fair value of any previously held equity interest in the acquiree over (ii) the fair value of the identifiable net assets of the acquiree is recorded as goodwill. If the cost of acquisition is less than the fair value of the net assets of the subsidiary acquired, the difference is recognized directly in the consolidated income statements. During the measurement period, which can be up to one year from the acquisition date, the Company may record adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the values of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the consolidated income statements. For the Company's non-wholly owned subsidiaries, a noncontrolling interest is recognized to reflect portion of equity that is not attributable, directly or indirectly, to the Company. The cumulative results of operations attributable to noncontrolling interests are also recorded as noncontrolling interests in the Company's consolidated balance sheets and consolidated statements of operations and comprehensive loss. Cash flows related to transactions with noncontrolling interests are presented under financing activities in the consolidated statements of cash flows.
Segment Reporting, Policy [Policy Text Block]	(h) Segment reporting Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision maker (the “CODM”), which is comprised of certain members of the Company's management team. Historically, the Company had one single operating and reportable segment, namely the provision of an online lending services. During the year ended March 31, 2019, the Company acquired Hunan Ruixi and and evaluated how the CODM manages the businesses of the Company to maximize efficiency in allocating resources and assessing performance. Consequently, the Company presents two operating and reportable segments as set forth in Notes 1 and 17.
Cash and Cash Equivalents, Policy [Policy Text Block]	(i) Cash and cash equivalents Cash and cash equivalents primarily consist of bank deposits with original maturities of three months or less, which are unrestricted as to withdrawal and use.
Trade and Other Accounts Receivable, Policy [Policy Text Block]	(j) Accounts receivable, net Accounts receivable are recorded at the invoiced amount less an allowance for any uncollectible accounts and do not bear interest, and are due on demand. Management reviews the adequacy of the allowance for doubtful accounts on an ongoing basis, using historical collection trends and aging of receivables. Management also periodically evaluates individual customer’s financial condition, credit history and the current economic conditions to make adjustments in the allowance when necessary. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. As of March 31, 2019, the Company determined no allowance for doubtful accounts was necessary for accounts receivable.
Inventory, Policy [Policy Text Block]	(k) Inventories Inventories consist of automobiles which are held for sale and for leasing purposes, and are stated at lower of cost or net realizable value, as determined using the weighted average cost method. Management compares the cost of inventories with the net realizable value and if applicable, an allowance is made for writing down the inventory to its net realizable value, if lower than cost. On an ongoing basis, inventories are reviewed for potential write-down for estimated obsolescence or unmarketable inventories which equals the difference between the costs of inventories and the estimated net realizable value based upon forecasts for future demand and market conditions. When inventories are written-down to the lower of cost or net realizable value, it is not marked up subsequently based on changes in underlying facts and circumstances.
Finance Lease Receivables [Policy Text Block]	(l) Finance lease receivables, net Finance lease receivables, which result from sales-type leases, are measured at discounted present value of (i) future minimum lease payments, (ii) any residual value not subject to a bargain purchase option as a finance lease receivables on its balance sheet and (iii) accrued interest on the balance of the finance lease receivables based on the interest rate inherent in the applicable lease over the term of the lease. Management also periodically evaluates individual customer’s financial condition, credit history and the current economic conditions to make adjustments in the allowance when necessary. Finance lease receivables is charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. As of March 31, 2019, the Company determined no allowance for doubtful accounts was necessary for finance lease receivables. As of March 31, 2019, finance lease receivables consisted of the following: March 31, Gross minimum lease payments receivable $ 40,023 Less: Amounts representing estimated executory costs - Minimum lease payments receivable 40,023 Less Allowance for uncollectible minimum lease payments receivable - Net minimum lease payments receivable 40,023 Estimated residual value of leased automobiles - Less: Unearned interest (7,471 ) Financing lease receivables, net $ 32,552 Finance lease receivables, net, current portion $ 10,254 Finance lease receivables, net $ 22,298 Future scheduled minimum lease payments for investments in sales-type leases as of March 31, 2019 are as follows: Minimum future payments receivable Year ending March 31, 2020 $ 13,341 Year ending March 31, 2021 13,341 Year ending March 31, 2022 13,341 $ 40,023
Property, Plant and Equipment, Policy [Policy Text Block]	(m) Property and equipment Property and equipment primarily consists of computer equipment, which is stated at cost less accumulated depreciation less any provision required for impairment in value. Depreciation is computed using the straight-line method with no residual value based on the estimated useful life. The useful life of property and equipment is summarized as follows: Computer equipment 2 - 5 years Office equipment 3 - 5 years Automobiles 4 years The Company reviews property and equipment for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. An asset is considered impaired if its carrying amount exceeds the future net undiscounted cash flows that the asset is expected to generate. If such asset is considered to be impaired, the impairment recognized is the amount by which the carrying amount of the asset, if any, exceeds its fair value determined using a discounted cash flow model. For the years ended March 31, 2019 and 2018, there was no impairment of property and equipment. Costs of repairs and maintenance are expensed as incurred and asset improvements are capitalized. The cost and related accumulated depreciation of assets disposed of or retired are removed from the accounts, and any resulting gain or loss is reflected in the consolidated income statements.
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block]	(n) Intangible assets Purchased intangible assets are recognized and measured at fair value upon acquisition. Separately identifiable intangible assets that have determinable lives continue to be amortized over their estimated useful lives using the straight-line method as follows: Platform 7 years Customer relationship 10 years Software 5-7 years Separately identifiable intangible assets to be held and used are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. Determination of recoverability is based on an estimate of undiscounted future cash flows resulting from the use of the asset and its eventual disposition. Measurement of any impairment loss for identifiable intangible assets is based on the amount by which the carrying amount of the assets exceeds the fair value of the assets. As a result of declines in revenue and profitability of the online lending services, the Company performed an impairment analysis of its intangible assets as of March 31, 2019 and 2018 using the relief from royalty method. As a result of the analysis, the Company concluded that there was an impairment of its online lending platform and software and recorded a charge of $1,225,073 and $2,000,175 for the years ended March 31, 2019 and 2018, respectively. The impairment was largely due to a decrease in the long-term revenue projections. As of March 31, 2019 and 2018, the carrying value of the platform subsequent to the recording of the impairment charge was $1,107,616 and $2,492,976, respectively. As of March 31, 2019 and 2018, the carrying value of the software subsequent to the recording of the impairment charge was $80,856 and $84,545, respectively.
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block]	(o) Goodwill Goodwill represents the excess of the purchase consideration over the fair value of the identifiable tangible and intangible assets acquired and liabilities assumed of the acquired entity or business as a result of the Company’s acquisitions of interests in its subsidiary, VIE and business. Goodwill is not amortized but is tested for impairment on an annual basis, or more frequently if events or changes in circumstances indicate that it might be impaired. The Company first assesses qualitative factors to determine whether it is necessary to perform the two-step quantitative goodwill impairment test. In the qualitative assessment, the Company considers primary factors such as industry and market considerations, overall financial performance of the reporting unit, and other specific information related to the operations. Based on the qualitative assessment, if it is more likely than not that the fair value of each reporting unit is less than the carrying amount, the quantitative impairment test is performed. In performing the two-step quantitative impairment test, the first step compares the fair values of each reporting unit to its carrying amount, including goodwill. If the fair value of each reporting unit exceeds its carrying amount, goodwill is not considered to be impaired and the second step will not be required. If the carrying amount of a reporting unit exceeds its fair value, the second step compares the implied fair value of goodwill to the carrying value of a reporting unit’s goodwill. The implied fair value of goodwill is determined in a manner similar to accounting for a business combination with the allocation of the assessed fair value determined in the first step to the assets and liabilities of the reporting unit. The excess of the fair value of the reporting unit over the amounts assigned to the assets and liabilities is the implied fair value of goodwill. This allocation process is only performed for the purposes of evaluating goodwill impairment and does not result in an entry to adjust the value of any assets or liabilities. Application of a goodwill impairment test requires significant management judgment, including the identification of reporting units, assigning assets, liabilities and goodwill to reporting units, and determining the fair value of each reporting unit. As a result of declines in revenue and profitability of the online lending services, the Company performed an impairment analysis of its goodwill arising from acquisition of the online lending business as of March 31, 2018 using a discounted cash flow analysis. As a result of the analysis, the Company concluded that there was an impairment of goodwill and recorded a charge of $6,179,206 for the year ended March 31, 2018. The impairment was largely due to a decrease in long-term revenue projections of the online lending services. As of March 31, 2019 and 2018, the carrying value of the goodwill subsequent to the recording of the impairment charge was $0 and $0.
Earnings Per Share, Policy [Policy Text Block]	(o) Loss per share Basic loss per share is computed by dividing net loss attributable to stockholders by the weighted average number of outstanding shares of common stock, adjusted for outstanding shares of common stock that are subject to repurchase. For the calculation of diluted loss per share, net loss attributable to stockholders for basic loss per share is adjusted by the effect of dilutive securities, including share-based awards, under the treasury stock method. Potentially dilutive securities, of which the amounts are insignificant, have been excluded from the computation of diluted net loss per share if their inclusion is anti-dilutive.
Revenue Recognition, Policy [Policy Text Block]	(p) Revenue recognition The Company adopted ASC 606, Revenue from Contracts with Customers (“ASC 606”), in the first quarter of 2019 using the modified retrospective approach. ASC 606 establishes principles for reporting information about the nature, amount, timing and uncertainty of revenue and cash flows arising from the entity's contracts to provide goods or services to customers. The core principle requires an entity to recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration that it expects to be entitled to receive in exchange for those goods or services recognized as performance obligations are satisfied. The Company has assessed the impact of the guidance by reviewing its existing customer contracts and current accounting policies and practices to identify differences that will result from applying the new requirements, including the evaluation of its performance obligations, transaction price, customer payments, transfer of control and principal versus agent considerations. Based on the assessment, the Company concluded that there was no change to the timing and pattern of revenue recognition for its current revenue streams in scope of ASC 606 and therefore there was no material changes to the Company's consolidated financial statements upon adoption of ASC 606. As of March 31, 2019, the Company had outstanding contracts for automobile transaction and related services amounting to $1,296,587, of which $580,775 is expected to be completed within 12 months after March 31, 2019, and $715,812 is expected to be completed during the 12 months ending March 31, 2020. For the Years Ended March 31, 2019 2018 Automobile Transaction and Related Services - Revenues from sales of automobiles 1,815,425 - - Service fees from automobile purchase services 407,632 - - Facilitation fees from automobile transactions 142,615 - - Service fees from management and guarantee services 60,011 - - Other service fees 125,424 - Online Lending Services - Transaction fees $ 331,960 $ 323,054 - Service fees 37,996 171,843 $ 2,921,063 $ 494,897 Automobile transaction and related services Sales of automobiles – Revenue from sales of automobiles to the customers of Jinkailong and the sales of automobiles to lessees by Hunan Ruixi under its sales-type leases. The control over the automobile is transferred to the purchaser along with the delivery of automobile. The amount of the revenue is based on the sale price agreed by Hunan Ruixi and the counterparties, including the leasees under sales-type leases and Jinkailong, who acts on behalf of its customers. The Company recognizes revenues when the automobile is delivered and control is transferred to the purchaser. Service fees from automobile purchase services– Services fees from automobile purchase services are paid by automobile purchasers for a series of the services provided to them throughout the purchase process such as credit assessment, preparation of financing application materials, assistance with closing of financing transactions, license and plate registration, payment of taxes and fees, purchase of insurance, installment of GPS devices, ride-hailing driver qualification and other administrative procedures.. The amount of these fees is based on the sales price of the automobiles and relevant services provided. The Company recognizes revenue when all the services are completed and the automobile is delivered to the purchaser. Facilitation fees from automobile transactions – Facilitation fees from automobile purchase transactions are paid by the Company’s customers including third-party sales teams or the automobile purchasers for the facilitation of the sales and financing of automobiles. The Company attracts automobile purchasers through third-party sales teams or its own sales department. For the sales facilitated between third-party sales teams and automobile purchasers, the Company charges the fees to the third-party sales teams, which derived from the commission paid by the automobile purchasers to the third-party sales teams. Relating to sales facilitated between automobile purchasers and dealers, the Company charges the fees to the automobile purchasers. The Company recognizes revenue from facilitation fees when the titles are transferred to the owners. The amount of fees is based on the type of automobile and negotiation with each sales team or automobile purchaser. The fees charged to third-party sales teams or automobile purchasers are paid before the automobile purchase transactions are consummated. These fees are non-refundable upon the delivery of automobiles. Service fees from management and guarantee services – Over 95% of the Company’s customers are drivers of Didi Chuxing Technology Co., Ltd., the largest ride-hailing service platform in China, who sign affiliation agreements with the Company, pursuant to which the Company provides them with management and guarantee services during the affiliation period. Service fees for management and guarantee services are paid by such automobile purchasers on a monthly basis for the management and guarantee services provided during the affiliation period. The Company recognizes revenue over the affiliation period when performance obligations are completed. Online Lending Services Transaction fees – Transaction fees are paid by borrowers to the Company for the work the Company performs through its platform. The amount of these fees is based upon the loan amount, maturity and the credit grade of borrowers. The fees charged to borrowers are paid upon (i) disbursement of the proceeds for loans which accrue interest on a monthly basis or (ii) full payment of principal and interest of loans which accrue interest on a daily basis. These fees are non-refundable upon the issuance of loan. The Company recognizes revenue when loan proceeds are disbursed to borrowers or borrowers pay their principal and interest on loans. Service fees — The Company charges investors service fees on their actual return of investment (interest income). The Company generally receives the service fees upon the investors’ receipt of their investment returns. The Company recognizes revenue when loans are repaid and investors receive their investment income.
Income Tax, Policy [Policy Text Block]	(q) Income taxes Deferred income tax liabilities and assets are recognized for the expected future tax consequences of temporary differences between the income tax basis and financial reporting basis of assets and liabilities. Provisions or benefits for income taxes consists of tax estimated from taxable income plus or minus deferred tax expenses (benefits) if applicable. Deferred tax is calculated using the balance sheet liability method in respect of temporary differences arising from differences between the carrying amount of assets and liabilities in the financial statements and the corresponding tax basis. Deferred tax assets are recognized to the extent that it is probable that taxable income will be utilized with prior net operating loss carried forwards using tax rates that are expected to apply to the period when the asset is realized or the liability is settled. Deferred tax is charged or credited in the income statement, except when it is related to items credited or charged directly to equity. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be utilized. Current income taxes are provided for in accordance with the laws of the relevant tax authorities. An uncertain tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. Penalties and interest incurred related to underpayment of income tax are classified as income tax expense in the period incurred. The Company did not have any significant unrecognized uncertain tax positions or any unrecognized liabilities, interest or penalties associated with unrecognized tax benefit as of March 31, 2019 and 2018. As of March 31, 2019, the tax years ended December 31, 2013 through 2018 for the Company’s PRC entities remain open for statutory examination by PRC tax authorities.
Comprehensive Income, Policy [Policy Text Block]	(r) Comprehensive loss Comprehensive loss includes net loss and foreign currency adjustments. Comprehensive loss is reported in the consolidated statements of operations and comprehensive loss. Accumulated other comprehensive loss, as presented on the consolidated balance sheets are the cumulative foreign currency translation adjustments. As of March 31, 2019 and 2018, the balance of accumulated other comprehensive losses were $428,771 and $253,761, respectively.
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]	(s) Share-based awards Share-based awards granted to the Company’s employees are measured at fair value on grant date and share-based compensation expense is recognized (i) immediately at the grant date if no vesting conditions are required, or (ii) using the accelerated attribution method, net of estimated forfeitures, over the requisite service period. The fair value of restricted shares is determined with reference to the fair value of the underlying shares. At each date of measurement, the Company reviews internal and external sources of information to assist in the estimation of various attributes to determine the fair value of the share-based awards granted by the Company, including but not limited to the fair value of the underlying shares, expected life, expected volatility and expected forfeiture rates. The Company is required to consider many factors and make certain assumptions during this assessment. If any of the assumptions used to determine the fair value of the share-based awards changes significantly, share-based compensation expense may differ materially in the future from that recorded in the current reporting period.
Lessor, Leases [Policy Text Block]	(t) Leases commitments Leases are classified as either capital or operating leases. Leases that transfer substantially all the benefits and risks incidental to the ownership of assets are accounted for as if there was an acquisition of an asset and incurrence of an obligation at the inception of the lease. All other leases are accounted for as operating leases expense and is included in the consolidated statements of operations on a straight-line basis over the term of the leases. The Company had no capital lease commitments for the years ended March 31, 2019 and 2018.
Income Tax Uncertainties, Policy [Policy Text Block]	(u) Significant risks and uncertainties 1) Credit risk a. Assets that potentially subject the Company to significant concentration of credit risk primarily consist of cash and cash equivalents. The maximum exposure of these assets to credit risk is their carrying amount as of the balance sheet dates. On March 31, 2019, approximately $1,950,000 was deposited with a bank in the United States which is insured by the U.S. government up to $250,000. On March 31, 2019 and 2018, approximately $ 3,070,000 The Company’s operations are carried out in mainland China. Accordingly, the Company’s business, financial condition and results of operations may be influenced by the political, economic and legal environments in the PRC as well as by the general state of the PRC’s economy. In addition, the Company’s business may be influenced by changes in government policies with respect to laws and regulations, anti-inflationary measures, currency conversion and remittance abroad, rates and methods of taxation and other factors. b. In measuring the credit risk of guarantee services to automobile purchasers, the Company primarily reflects the “probability of default” by the automobile purchasers on its contractual obligations and considers the current financial position of the automobile purchasers and its likely future development. The Company manages the credit risk of automobile purchasers by performing preliminary credit checks of each automobile purchaser and ongoing monitoring every month. By using the current credit loss model, management is of the opinion that the Company is bearing the credit risk to repay the principal and interests to the financial institutions if automobile purchasers default on their payments for more than three months. Management also periodically re-evaluates probability of default of automobile purchasers to make adjustments in the allowance when necessary. However, as the Company commenced the automobile transaction and related services for less than one year, there was no sufficient historic default data and other information to make an estimate on the expected credit losses. Historically, most of the automobile purchasers would pay the Company their previous defaulted amounts within one to three months. For the year ended March 31, 2019, the Company did not provide provisions for the guarantee services. As at March 31, 2019, the maximum contingent liabilities the Company exposed to would be $11,548,000 if all the automobile purchasers defaulted . Automobiles are used as collateral to secure the payment obligations of the automobile purchasers under the financing agreements. The Company estimated the fair market value of the collateral to be approximately $10,152,000 as at March 31, 2019, based on the market price and the useful life of such collateral, which represents about 88% of the contingent liabilities. c. In measuring the credit risk of accounts receivables due from the automobile purchasers (the “customers”), the Company mainly reflects the “probability of default” by the customer on its contractual obligations and considers the current financial position of the customer and the risk exposures to the customer and its likely future development. However, as the Company commenced the automobile transaction and related services for less than one year, there was no sufficient historic default data and other information to make an estimate on the expected credit losses. Historically, most of the automobile purchasers would pay the Company their previously defaulted amounts within one to three months. The Company would provide full provisions on accounts receivable if the customers default on repayments for over three months. For the year ended March 31, 2019, the Company determined no provision was recorded for accounts receivable. 2) Liquidity risk The Company is also exposed to liquidity risk, which may limit the Company’s ability to access capital resources and have liquidity to meet its commitments and business needs. Liquidity risk is controlled by the application of financial position analysis and monitoring procedures. When necessary, the Company will turn to other financial institutions and the stockholders to obtain short-term funds to meet the liquidity requirements. 3) Foreign currency risk As of March 31, 2019, substantially all of the Company’s operating activities and major assets and liabilities, except for the cash deposit of approximately $1,950,000 in U.S. dollars, are denominated in RMB, which are not freely convertible into foreign currencies. All foreign exchange transactions take place through either the Peoples’ Bank of China (“PBOC”) or other authorized financial institutions at exchange rates quoted by PBOC. Approval of foreign currency payments by the PBOC or other regulatory institutions requires a payment application together with invoices and signed contracts. The value of RMB is subject to change in central government policies and international economic and political developments affecting supply and demand in the China Foreign Exchange Trading System market. When there is a significant change in value of RMB, the gains and losses resulting from translation of financial statements of a foreign subsidiary will be significant affected. 4) VIE risk It is possible that the VIE Agreements among Sichuan Senmiao, , and the Sichuan Senmiao Shareholders would not be enforced in China if the PRC government or courts consider those contracts contravene PRC laws and regulations or otherwise not enforceable for public policy reasons. In the event that the Company were unable to enforce these contractual arrangements, the Company would not be able to exert effective control over Consequently, results of operations, assets and liabilities would not be included in the Company’s consolidated financial statements. As a result, the Company’s cash flows, financial position, and operating performance would be materially and adversely affected. The Company’s contractual arrangements with Sichuan Senmiao, , and the Sichuan Senmiao Shareholders are approved and in place. Management believes that such contracts are enforceable, and considers it is less likely that PRC regulatory authorities with jurisdiction over the Company’s operations and contractual relationships would find the contracts unenforceable. Sichuan Senmiao has the customer relationship the workforce for the Company’s online lending business, the costs of which are expensed as incurred. Though the Company’s operations and businesses do not rely on the operations and businesses of Sichuan Senmiao, they may be partially adversely impacted if Sichuan Senmiao continue to incur losses.
New Accounting Pronouncements, Policy [Policy Text Block]	(v) Recently issued accounting standards In February 2016, the FASB issued ASU 2016-02, Leases (ASC Topic 842), with additional amendments and targeted improvements being issued during 2018. This update supersedes existing lease accounting guidance found under ASC 840, Leases (“ASC 840”) and requires the recognition of right-to-use assets and lease obligations by lessees for those leases currently classified as operating leases under existing lease guidance. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition. Short term leases with a term of 12 months or less are not required to be recognized. The update also requires qualitative and quantitative disclosure of key information regarding the amount, timing and uncertainty of cash flows arising from leasing arrangements to increase transparency and comparability among companies. The accounting for lessors does not fundamentally change with this update except for changes to conform and align guidance to the lessee guidance as well as to the new revenue recognition guidance in ASU 2014-09. This update is effective for the fiscal year beginning April 1, 2019. The Company will adopt the guidance for its fiscal year beginning April 1, 2019 and will apply the transition option, whereby prior comparative periods will not be retrospectively presented in the consolidated financial statements. The Company will also elect the package of practical expedients not to reassess prior conclusions related to contracts containing leases, lease classification and initial direct costs and the lessee practical expedient to combine lease and non-lease components for certain asset classes (real estate and embedded lease arrangements). The Company will also make a policy election to not recognize right-of-use assets and lease liabilities for short-term leases for all asset classes. The Company will elect the package of practical expedients from both the Lessee and Lessor prospective, to the extent applicable. Lessee accounting - the Company estimates the adoption of this update will result in an increase in assets and related liabilities of approximately $ 498,935 Lessor accounting - the Company does not expect that the adoption of this guidance will have a material impact on its consolidated financial statements. Also beginning upon adoption, the Company will classify all cash flows from the addition of and repayment of finance lease receivables within operating activities in its consolidated statements of cash flow. Previously, the Company separately classified its flows from addition of finance lease receivables and repayment of finance lease receivables within investing activities and operating activities, respectively. Additionally, as both a lessor and lessee, the Company will be providing new disclosures in respect to its leases. In December 2018, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2018-20, Leases (Topic 842): Narrow-Scope Improvements for Lessors. The amendments clarify or simplify certain narrow aspects of ASC 842 for lessors. Specifically: 1) The amendments provide an accounting policy election whereby lessors may choose not to evaluate whether certain sales taxes and other similar taxes are lessor costs or lessee costs. Instead, lessors making the election will account for those costs as if they are lessee costs, i.e., through the balance sheet instead of the income statement. 2) Lessors will exclude from variable payments, and therefore revenue, lessor costs paid by lessees directly to third parties. Conversely, lessors will include in variable payments, and therefore revenue, such costs that are paid by the lessor and reimbursed by the lessee, and 3) Regarding contracts with lease and nonlease components, lessors will allocate certain variable payments to the lease and nonlease components when the changes in facts and circumstances on which the variable payment is based occur. The amount of variable payments allocated to the lease components will be recognized in profit or loss, while the amount of variable payments allocated to nonlease components will be recognized in accordance with other GAAP. If an entity has not yet adopted the new leases standard, it must adopt ASU 2018-20 concurrently with the leases standard. If an entity has previously adopted the new leases standard, specific transition requirements apply. The Company does not expect that the adoption of this guidance will have a material impact on its consolidated financial statements. In October 2018, the FASB issued ASU2018-17, Consolidation (Topic 810): Targeted Improvements to Related Party Guidance for Variable Interest Entities. ASU 2018-17 expands the accounting alternative that allows private companies the election not to apply the variable interest entity guidance to qualifying common control leasing arrangements. ASU 2018-17 broadens the scope of the private company alternative to include all common control arrangements that meet specific criteria (not just leasing arrangements). ASU 2018-17 also eliminates the requirement that entities consider indirect interests held through related parties under common control in their entirety when assessing whether a decision-making fee is a variable interest. Instead, the reporting entity will consider such indirect interests on a proportionate basis. The amendments are effective for fiscal years ending after December 15, 2019. Early adoption is permitted. The Company is currently assessing the timing and impact of adopting the updated provisions to its consolidated financial statements. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement - Disclosure Framework (Topic 820). The updated guidance improves the disclosure requirements on fair value measurements. The updated guidance if effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Early adoption is permitted for any removed or modified disclosures. The Company is currently assessing the timing and impact of adopting the updated provisions to its consolidated financial statements. In June 2018, the FASB issued ASU 2018-07, which simplifies several aspects of the accounting for nonemployee share-based payment transactions resulting from expanding the scope of Topic 718, Compensation-Stock Compensation, to include share-based payment transactions for acquiring goods and services from non-employees. Some of the areas for simplification apply only to nonpublic entities. The amendments specify that Topic 718 applies to all share-based payment transactions in which a grantor acquires goods or services to be used or consumed in a grantor’s own operations by issuing share-based payment awards. The amendments also clarify that Topic 718 does not apply to share-based payments used to effectively provide (1) financing to the issuer or (2) awards granted in conjunction with selling goods or services to customers as part of a contract accounted for under Topic 606, Revenue from Contracts with Customers. The amendments in this Update are effective for fiscal years beginning after December 15, 2018, including interim periods within that fiscal year. Early adoption is permitted. The Company do not plan to early adopt this ASU. The Company is currently evaluating the potential impacts of this updated guidance, and do not expect the adoption of this guidance to have a material impact on its consolidated financial statements and related disclosures. In February 2018, the FASB issued ASU No. 2018-02, “Income Statement—Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income” (“ASU 2018-02”), which provides financial statement preparers with an option to reclassify stranded tax effects within accumulated other comprehensive income to retained earnings in each period in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Cuts and Jobs Act (or portion thereof) is recorded. The amendments in this ASU are effective for all entities for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption of ASU 2018-02 is permitted, including adoption in any interim period for the public business entities for reporting periods for which financial statements have not yet been issued. The amendments in this ASU should be applied either in the period of adoption or retrospectively to each period (or periods) in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Cuts and Jobs Act is recognized. The Company does not expect that the adoption of this guidance will have a material impact on its consolidated financial statements. In June 2016, the FASB issued new accounting guidance ASU 2016-13 for recognition of credit losses on financial instruments, which is effective January 1, 2020, with early adoption permitted on January 1, 2019. The guidance introduces a new credit reserving model known as the Current Expected Credit Loss CECL model, which is based on expected losses, and differs significantly from the incurred loss approach used today. The CECL model requires measurement of expected credit losses not only based on historical experience and current conditions, but also by including reasonable and supportable forecasts incorporating forward-looking information and will likely result in earlier recognition of credit reserves. The Company does not intend to adopt the new standard early and is currently evaluating the impact the new guidance will have on its financial position, results of operations and cash flows; however, it is expected that the new CECL model will alter the assumptions used in calculating credit losses on loans, finance lease receivables, other receivables, prepayments, contingent liabilities from guarantee services, among other financial instruments, and may result in material changes to the Company’s credit reserves. CECL adoption will have broad impact on the financial statements of financial services firms, which will affect key profitability and solvency measures. Some of the more notable expected changes include: - Higher allowance on financial guarantee reserve and finance lease receivable levels and related deferred tax assets. While different asset types will be impacted differently, the expectation is that reserve levels will generally increase across the board for all financial firms. - Increased reserve levels may lead to a reduction in capital levels. - As a result of higher reserving levels, the expectation is that CECL will reduce cyclicality in financial firms’ results, as higher reserving in “good times” will mean that less dramatic reserve increases will be loan related income (which will continue to be recognized on a periodic basis based on the effective interest method) and the related credit losses (which will be recognized up front at origination). This will make periods of loan expansion seem less profitable due to the immediate recognition of expected credit losses. Periods of stable or declining loan levels will look comparatively profitable as the income trickles in for loans, where losses had been previously recognized. On November 22, 2017, the FASB ASU No. 2017-14, “Income Statement—Reporting Comprehensive Income (Topic 220), Revenue Recognition Topic 605), and Revenue from Contracts with Customers (Topic 606): Amendments to SEC Paragraphs Pursuant to Staff Accounting Bulletin No. 116 and SEC Release 33-10403.” The ASU amends various paragraphs in ASC 220, Income Statement — Reporting Comprehensive Income; ASC 605, Revenue Recognition; and ASC 606, Revenue From Contracts With Customers, that contain SEC guidance. The amendments include superseding ASC 605-10-S25-1 (SAB Topic 13) as a result of SEC Staff Accounting Bulletin No. 116 and adding ASC 606-10-S25-1 as a result of SEC Release No. 33-10403. The adoption of this guidance did not have a material impact on the Company’s consolidated financial statements. T he Company does not believe other recently issued but not yet effective accounting standards, if currently adopted, would have a material effect on the consolidated financial position, statements of operations and cash flows of the Company.

ORGANIZATION AND PRINCIPAL AC_2

ORGANIZATION AND PRINCIPAL ACTITIVIES (Tables)	12 Months Ended
	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Variable Interest Entities Financial Statement [Table Text Block]	Total assets and total liabilities of the Company’s VIEs included in the Company’s consolidated financial statements as of March 31, 2019 and 2018 are as follows: March 31, 2019 March 31, 2018 Total assets $ 5,214,014 $ 10,425,056 Total liabilities $ 6,852,769 $ 1,413,485
Schedule of Variable Interest Entities On Income and Cash Flow Activities [Table Text Block]	Net revenue, net loss, operating, investing and financing cash flows of the VIEs that were included in the Company's consolidated financial statements for the years ended March 31, 2019 and 2018 are as follows: For the Years Ended March 31, 2019 2018 Net revenue $ 1,087,207 $ 494,897 Net loss $ (2,379,206 ) $ (1,473,911 ) Net Cash Used in Operating Activities $ (1,188,131 ) (718,896 ) Net Cash Used in Investing Activities $ (8,491 ) (2,990 ) Net Cash Provided by Financing Activities $ 1,892,789 725,227

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Schedule of Differences between Reported Amount and Reporting Currency Denominated Amount [Table Text Block]	Translation of amounts from RMB into US$ has been made at the following exchange rates for the respective periods: March 31, 2019 March 31, 2018 Balance sheet items, except for equity accounts 6.7119 6.2807 For the Years Ended March 31, 2019 2018 Items in the statements of operations and comprehensive loss, and statements of cash flows 6.7126 6.6269
Finance Lease Receivables [Table Text Block]	As of March 31, 2019, finance lease receivables consisted of the following: March 31, Gross minimum lease payments receivable $ 40,023 Less: Amounts representing estimated executory costs - Minimum lease payments receivable 40,023 Less Allowance for uncollectible minimum lease payments receivable - Net minimum lease payments receivable 40,023 Estimated residual value of leased automobiles - Less: Unearned interest (7,471 ) Financing lease receivables, net $ 32,552 Finance lease receivables, net, current portion $ 10,254 Finance lease receivables, net $ 22,298
Sales-type and Direct Financing Leases, Lease Receivable, Maturity [Table Text Block]	Future scheduled minimum lease payments for investments in sales-type leases as of March 31, 2019 are as follows: Minimum future payments receivable Year ending March 31, 2020 $ 13,341 Year ending March 31, 2021 13,341 Year ending March 31, 2022 13,341 $ 40,023
Property, Plant and Equipment [Table Text Block]	The useful life of property and equipment is summarized as follows: Computer equipment 2 - 5 years Office equipment 3 - 5 years Automobiles 4 years
Schedule of Finite-Lived Intangible Assets [Table Text Block]	Purchased intangible assets are recognized and measured at fair value upon acquisition. Separately identifiable intangible assets that have determinable lives continue to be amortized over their estimated useful lives using the straight-line method as follows: Platform 7 years Customer relationship 10 years Software 5-7 years
Disaggregation of Revenue [Table Text Block]	For the Years Ended March 31, 2019 2018 Automobile Transaction and Related Services - Revenues from sales of automobiles 1,815,425 - - Service fees from automobile purchase services 407,632 - - Facilitation fees from automobile transactions 142,615 - - Service fees from management and guarantee services 60,011 - - Other service fees 125,424 - Online Lending Services - Transaction fees $ 331,960 $ 323,054 - Service fees 37,996 171,843 $ 2,921,063 $ 494,897

ACQUISITION OF HUNAN RUIXI AN_2

ACQUISITION OF HUNAN RUIXI AND ITS VIE (Tables)	12 Months Ended
	Mar. 31, 2019
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) $ 63,965 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 $1,813,821, property and equipment of $107,865, other current liabilities of $711,303 and borrowings from related parties and affiliates of $785,231, and borrowings from financial institutions of $554,802. (ii) Fair value of the noncontrolling interests is estimated with reference to the purchase price per share as of the acquisition date.

ACCOUNTS RECEIVABLE (Tables)

ACCOUNTS RECEIVABLE (Tables)	12 Months Ended
	Mar. 31, 2019
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	The classification of accounts receivable is based on whether the due date is within 12 months from the initiation of the transaction. As of March 31, 2019 and 2018, accounts receivable were comprised of the following: March 31, 2019 March 31, 2018 Receivables of transaction fees due from borrowers $ 126,272 $ - Receivables of services fees due from automobile purchasers 199,909 - Less: Allowance for doubtful accounts - - $ 326,181 $ -

INVENTORIES (Tables)

INVENTORIES (Tables)	12 Months Ended
	Mar. 31, 2019
Inventory Disclosure [Abstract]
Schedule of Inventory, Current [Table Text Block]	March 31, 2019 March 31, 2018 Automobiles (i) $ 1,508,244 $ - (i) As of March 31, 2019, the Company owned 41 automobiles with a total value of $670,122 for leasing purposes and 93 automobiles with a total value of $838,122 for sale.

PREPAYMENTS, RECEIVABLES AND _2

PREPAYMENTS, RECEIVABLES AND OTHER ASSETS (Tables)	12 Months Ended
	Mar. 31, 2019
Receivables [Abstract]
Schedule Of Prepayments Receivables [Table Text Block]	As of March 31, 2019 and 2018, the prepayments, receivables and other assets were comprised of the following: March 31, 2019 March 31, 2018 Due from automobile purchasers (i) $ 2,564,834 $ - Prepayments for automobiles (ii) 394,821 Deposits 294,986 - Value added tax (“VAT”) recoverable (iii) 228,196 - Deferred issuance costs pursuant to Registration Statement on Form S-3 (iv) 149,696 - Prepaid expenses 112,147 44,861 Loans to employees - 2,718 Others 48,788 22,842 $ 3,793,468 $ 70,421 (i) Due from automobile purchasers The balance due from automobile purchasers represented the payment of automobiles and related insurances and taxes made on behalf of the automobile purchasers. The balance is expected to be collected from the automobile purchasers in installments. As of March 31, 2019, the Company recorded allowance of $ 2,995 (ii) Prepayments for automobiles The balance represented amounts advanced to dealers for automobiles and to other third parties for automobiles related taxes and insurances. (iii) VAT recoverable The balance of VAT recoverable represented the amount to be utilized to offset the Company’s future value added taxes arising from sales of goods. (iv) Deferred issuance costs pursuant to Registration Statement on Form S-3 On April 15, 2019, the Company’s Registration Statement on Form S-3 registering up to $80,000,000 in aggregate principal amount of its common stock, preferred stock, debt securities, warrants, rights and/or units were declared effective. The deferred issuance costs pursuant to Form S-3 represented the direct and incremental costs related to the registered offering closed on June 21, 2019. The would be netted against the gross proceeds of the offering on the effective date of the offering.

INTANGIBLE ASSETS, NET (Tables)

INTANGIBLE ASSETS, NET (Tables)	12 Months Ended
	Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets and Goodwill [Table Text Block]	As of March 31, 2019 and 2018, the intangible assets consisted of customer relationship, platform and software. Useful life March 31, 2019 March 31, 2018 Customer relationship 10 $ 392,618 $ 419,573 Platform 7 1,107,616 2,492,976 Software 5 7 80,856 84,545 1,581,090 2,997,094 Less: Accumulated amortization (1,284,999 ) (1,043,871 ) Intangible assets, net $ 296,091 $ 1,953,223
Finite-lived Intangible Assets Amortization Expense [Table Text Block]	The following table sets forth the Company’s amortization expenses for the five years ending March 31: Amortization expenses Twelve months ending March 31, 2020 $ 39,610 Twelve months ending March 31, 2021 39,610 Twelve months ending March 31, 2022 39,610 Twelve months ending March 31, 2023 39,610 Twelve months ending March 31, 2024 and thereafter 137,651 $ 296,091

BORROWINGS FROM THIRD PARTIES (

BORROWINGS FROM THIRD PARTIES (Tables)	12 Months Ended
	Mar. 31, 2019
Due To Third Parties [Abstract]
Borrowings From Third Parties [Table Text Block]	March 31, 2019 March 31, 2018 Borrowings from third parties $ 476,765 $ -

ACCRUED EXPENSES AND OTHER LI_2

ACCRUED EXPENSES AND OTHER LIABILITIES (Tables)	12 Months Ended
	Mar. 31, 2019
Payables and Accruals [Abstract]
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]	March 31, 2019 March 31, 2018 Accrued payroll and welfare $ 614,765 $ 195,695 Other payable (i) 247,335 194,943 Loan repayments received on behalf of financial institutions (ii) 169,657 - Payables for expenditures on automobile transaction and related services 157,382 - Accrued expenses 198,456 - Customer deposits 82,232 8,495 Other taxes payable 30,976 5,471 $ 1,500,803 $ 404,604 (i) The balance of other payable represented amount due to suppliers and vendors for operation purposes. (ii) The balance of loan repayments received on behalf of financial institutions represented the loan repayments made by the automobile purchasers to financial institutions through the Company, which has not been paid to the financial institutions as of March 31, 2019.

EQUITY (Tables)

EQUITY (Tables)	12 Months Ended
	Mar. 31, 2019
Stockholders' Equity Note [Abstract]
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block]	A summary of RSU activity for the year ended March 31, 2019 is as follows: Number of Shares Weighted-Average Grant Date Fair Value Balance of RSUs outstanding at March 31, 2018 - - Grants of RSUs 25,000 4.42 Vested RSUs (6,250 ) 4.42 Forfeited RSUs (7,500 ) 4.42 Balance of unvested RSUs at March 31, 2019 11,250 $ 4.42

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	Income taxes in the PRC are consist of: For the Years Ended March 31, 2019 2018 Current income tax expenses $ 21,905 $ - Deferred income tax expenses - - $ 21,905 $ -
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	The tax effects of temporary differences from continuing operations that give rise to the Company’s deferred tax assets are as follows: March 31, 2019 March 31, 2018 Net operating loss carryforwards in the PRC $ 886,176 $ 378,085 Net operating loss carryforwards in the U.S. 272,258 43,021 Less: valuation allowance (1,158,434 ) (421,106 ) $ - $ -
Schedule Of Reconciliation Of Statutory Tax Rate [Table Text Block]	Below is a reconciliation of the statutory tax rate to the effective tax rate: For the Years Ended March 31, 2019 2018 PRC statutory tax rate $ 25 % $ 25 % Tax rate difference in other jurisdiction (1.0 )% (0.1 )% Non-deductible expenses (0.1 )% 0 % Non-deductible impairments for intangibles and goodwill (6.7 )% (22.5 )% Valuation allowance on deferred income tax asset (17.7 )% (2.4 )% $ (0.5 )% $ 0 %

RELATED PARTY TRANSACTIONS AN_2

RELATED PARTY TRANSACTIONS AND BALANCES (Tables)	12 Months Ended
	Mar. 31, 2019
Related Party Transactions [Abstract]
Schedule of Related Party Transactions [Table Text Block]	March 31, 2019 March 31, 2018 Loan payable to related parties (i) $ 95,781 $ - Other payables due to related parties (ii) 297,978 - Others 22,172 - $ 415,931 $ - (i) As of March 31, 2019, the balances represented borrowings from the two related parties. Both balances have an interest rate of 10 2,579 (ii) As of March 31, 2019, the balance represented borrowings from two related parties, who obtained borrowings from the online P2P lending platform of Sichuan Senmiao and then loaned the money to Jinkailong. Both balances have an interest rate of 8.22
Schedule of Detailed Information About Loans Borrowed From And Outstanding With Related Party	The table below sets forth the detailed information on the transactions and related parties. Name of related parties Relationship with the Company Loan amount Outstanding balance Chengdu Mashangchuxing Automobile Leasing Co., Ltd. An entity controlled by Ms. Xi Yang and Mr. Yiqiang He (i) 149,529 148,989 Sichuan Yudinxin Huanya Technology Co., Ltd. An entity over which Ms. Xi Yang owns 45% shareholding and exercises significant influence 149,529 148,989 Chengdu Laobingchuxing Automobile Leasing Co., Ltd. An entity controlled by Ms. Xi Yang 149,529 - Sichuan Dinhengxin Automobile Services Co., Ltd. Ms. Xi Yang 149,529 - Chengdu Jinkailong Automobile Sales Co., Ltd. An entity controlled by Mr. Xiaoliang Chen (ii) 149,529 - (i) Mr. Yiqiang He is a principal shareholder of Jinkailong. Ms. Xi Yang is his spouse. (ii) Mr. Xiaoliang Chen is a principal shareholder of Jinkailon

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	The following table sets forth the Company’s lease obligations as of March 31, 2019 in future periods: Rental payments Year ending March 31, 2020 $ 206,552 Year ending March 31, 2021 145,108 Year ending March 31, 2022 32,407 Year ending March 31, 2023 6,150 Year ending March 31, 2024 and thereafter 1,614 $ 391,831

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	12 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	The following tables present the summary of each segment's revenue, loss from operations, loss before income taxes and net loss which is considered as a segment operating performance measure, for the year ended March 31, 2019: For the Years Ended March 31, 2019 Online Lending Services Automobile Transaction and Related Services Unallocated Consolidated Revenues $ 369,956 $ 2,551,107 $ - $ 2,921,063 Income / (Loss) from operations $ (3,378,157 ) $ 87,890 $ (1,158,645 ) $ (4,448,912 ) Loss before income taxes $ (3,358,842 ) $ (9,942 ) $ (1,151,836 ) $ (4,520,620 ) Net loss $ (3,358,842 ) $ (31,847 ) $ (1,151,836 ) $ (4,542,525 )

PARENT-ONLY FINANCIALS (Tables)

PARENT-ONLY FINANCIALS (Tables)	12 Months Ended
	Mar. 31, 2019
Condensed Financial Information Disclosure [Abstract]
Condensed Balance Sheet [Table Text Block]	SENMIAO TECHNOLOGY LIMITED CONDENSED BALANCE SHEETS March 31, 2019 March 31, 2018 ASSETS Current Assets Cash and cash equivalents $ 1,950,347 $ 10,961,071 Due from investors 1,900,000 - Prepayments, receivables and other assets 208,327 39,964 Escrow receivable 600,000 - Total Current Assets 4,658,674 11,001,035 Other Assets Prepayments for intangible assets 280,000 - Escrow receivable - 1,200,000 Investments in subsidiaries 3,726,240 830,562 Total Assets $ 8,664,914 $ 13,031,597 LIABILITIES AND EQUITY Total Liabilities $ 282,172 $ 152,927 Stockholders' Equity Common stock (par value $ 0.0001 100,000,000 25,945,255 2,595 2,588 Additional paid-in capital 23,833,112 23,611,512 Accumulated deficit (15,031,538 ) (10,481,669 ) Accumulated other comprehensive loss (428,771 ) (253,761 ) Total Stockholders’ Equity 8,375,398 12,878,670 Noncontrolling interests 7,344 - Total Equity 8,382,742 12,878,670 Total Liabilities and Equity $ 8,664,914 $ 13,031,597
Condensed Income Statement [Table Text Block]	SENMIAO TECHNOLOGY LIMITED CONDENSED STATEMENTS OF OPERATIONS For the Years Ended March 31, 2019 2018 General and administrative expenses $ (1,098,416 ) $ (204,864 ) Other income, net 6,810 - Equity of losses in subsidiaries (3,450,919 ) (9,654,108 ) Net loss (4,542,525 ) (9,858,972 ) Net income attributable to noncontrolling interests (7,344 ) - Foreign currency translation adjustment (175,010 ) 854,001 Comprehensive loss attributable to stockholders $ (4,724,879 ) $ (9,004,971 )
Condensed Cash Flow Statement [Table Text Block]	SENMIAO TECHNOLOGY LIMITED CONDENSED STATEMENTS OF CASH FLOWS For the Years Ended March 31, 2019 2018 Cash Flows from Operating Activities Net loss $ (4,542,525 ) $ (9,858,972 ) Adjustments to reconcile net loss to net cash used in operating activities: Equity of losses of subsidiaries 3,450,919 9,654,108 Changes in operating assets and liabilities: Prepayments, receivables and other assets (168,362 ) (39,964 ) Accrued expenses and other liabilities 129,090 81,927 Cash Flows Used in Operating Activities (1,130,948 ) (162,901 ) Cash Flows from Investing Activities: Deposits in intangible assets (280,000 ) - Working capital contribution for subsidiaries (6,300,000 ) - Cash Flows Used in Investing Activities (6,580,000 ) - Cash Flows from Financing Activities: Net Proceeds from issuance of common stock in initial public offering - 9,641,604 Proceeds from exercise of the underwriter’s overallotment option - 1,411,368 Proceeds borrowed from stockholders 154 71,000 Repayment of borrowing to stockholders (1,900,000 ) - Release of escrow 600,000 - Cash Flows (Used in) Provided by Financing Activities (1,299,846 ) 11,123,972 Net (decrease) increase in cash and cash equivalents (9,010,724 ) 10,961,071 Cash and cash equivalents, beginning of the year 10,961,071 - Cash and cash equivalents, end of the year $ 1,950,347 $ 10,961,071 Supplemental Cash Flows Information: Income tax paid $ - $ - Interest paid $ - $ - Non-cash Investing and Financing Activities: IPO issuance costs net against additional paid-in capital $ - $ 1,264,628 Escrow in connection with IPO $ - $ 1,200,000 IPO expenses paid by the Company’s stockholders $ 70,687 $ 67,277

ORGANIZATION AND PRINCIPAL AC_3

ORGANIZATION AND PRINCIPAL ACTITIVIES (Details) - USD ($)	Mar. 31, 2019	Mar. 31, 2018
Total assets	$ 12,314,135	$ 14,374,082
Total liabilities	3,931,393	1,495,412
Variable Interest Entity, Primary Beneficiary [Member]
Total assets	5,214,014	10,425,056
Total liabilities	$ 6,852,769	$ 1,413,485

ORGANIZATION AND PRINCIPAL AC_4

ORGANIZATION AND PRINCIPAL ACTITIVIES (Details 1) - USD ($)	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenue	$ 2,921,063	$ 494,897
Net loss	(4,549,869)	(9,858,972)
Net Cash Used in Operating Activities	(6,256,226)	(775,305)
Net Cash Used in Investing Activities	(532,625)	(2,990)
Net Cash Provided by Financing Activities	701,207	11,739,724
Variable Interest Entity, Primary Beneficiary [Member]
Revenue	1,087,207	494,897
Net loss	(2,379,206)	(1,473,911)
Net Cash Used in Operating Activities	(1,188,131)	(718,896)
Net Cash Used in Investing Activities	(8,491)	(2,990)
Net Cash Provided by Financing Activities	$ 1,892,789	$ 725,227

ORGANIZATION AND PRINCIPAL AC_5

ORGANIZATION AND PRINCIPAL ACTITIVIES (Details Textual) - USD ($)	12 Months Ended
	Mar. 31, 2019	Nov. 21, 2018	Sep. 18, 2017
Entity Incorporation, State Country Name	Nevada
Entity Incorporation, Date of Incorporation	Jun. 8, 2017
Voting Agreement with Jinkailongs other shareholders [Member]
Equity Method Investment, Ownership Percentage	65.00%
Business Agreement Term	20 years
Exclusive Option Agreement [Member]
Contract period	10 years
Sichuan Senmiao [Member]
Number of Aggregate Common Stock Shares Issued	20,250,000		45,000,000
Business Agreement Term	10 years
Hunan Ruixi [Member]
Equity Method Investment, Ownership Percentage		60.00%
Working Capital		$ 6,000,000
Contributions Towards Working Capital	$ 5,000,000
Registered Capital Percentage		60.00%
Sichuan Jinkailong Automobile Leasing Co Ltd [Member]
Equity Method Investment, Ownership Percentage	35.00%

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Balance sheet items, except for equity accounts	6.7119	6.2807
Items in the statements of operations and comprehensive loss, and statements of cash flows	6.7126	6.6269

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 1) - USD ($)	Mar. 31, 2019	Mar. 31, 2018
Capital Leases, Net Investment in Sales Type Leases [Abstract]
Gross minimum lease payments receivable	$ 40,023
Less: Amounts representing estimated executory costs	0
Minimum lease payments receivable	40,023
Less Allowance for uncollectible minimum lease payments receivable	0
Net minimum lease payments receivable	40,023
Estimated residual value of leased automobiles	0
Less: Unearned interest	(7,471)
Financing lease receivables, net	32,552
Finance lease receivables, net, current portion	10,254	$ 0
Finance lease receivables, net	$ 22,298	$ 0

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 2)	Mar. 31, 2019USD ($)
Sales-type and Direct Financing Leases, Lease Receivable, Fiscal Year Maturity [Abstract]
Year ending March 31, 2020	$ 13,341
Year ending March 31, 2021	13,341
Year ending March 31, 2022	13,341
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received	$ 40,023

SUMMARY OF SIGNIFICANT ACCOUN_7

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 3)	12 Months Ended
	Mar. 31, 2019
Automobile [Member]
Property, Plant and Equipment, Useful Life	4 years
Maximum [Member] | Computer Equipment [Member]
Property, Plant and Equipment, Useful Life	5 years
Maximum [Member] | Office Equipment [Member]
Property, Plant and Equipment, Useful Life	5 years
Minimum [Member] | Computer Equipment [Member]
Property, Plant and Equipment, Useful Life	2 years
Minimum [Member] | Office Equipment [Member]
Property, Plant and Equipment, Useful Life	3 years

SUMMARY OF SIGNIFICANT ACCOUN_8

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 4)	12 Months Ended
	Mar. 31, 2019
Customer Relationships [Member]
Finite-Lived Intangible Asset, Useful Life	10 years
Platform [Member]
Finite-Lived Intangible Asset, Useful Life	7 years
Software [Member] | Maximum [Member]
Finite-Lived Intangible Asset, Useful Life	7 years
Software [Member] | Minimum [Member]
Finite-Lived Intangible Asset, Useful Life	5 years

SUMMARY OF SIGNIFICANT ACCOUN_9

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 5) - USD ($)	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Automobile Transaction and Financing Services
Revenues	$ 2,921,063	$ 494,897
Revenues from sales of automobiles [Member]
Automobile Transaction and Financing Services
Revenues	1,815,425	0
Service fees from automobile purchase services [Member]
Automobile Transaction and Financing Services
Revenues	407,632	0
Facilitation fees from automobile transactions [Member]
Automobile Transaction and Financing Services
Revenues	142,615	0
Service fees from management and guarantee services [Member]
Automobile Transaction and Financing Services
Revenues	60,011	0
Other Service fees [Member]
Automobile Transaction and Financing Services
Revenues	125,424	0
Transaction fees of online lending services [Member]
Automobile Transaction and Financing Services
Revenues	331,960	323,054
Service fees of online lending services [Member]
Automobile Transaction and Financing Services
Revenues	$ 37,996	$ 171,843

SUMMARY OF SIGNIFICANT ACCOU_10

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Textual) - USD ($)	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Accumulated Other Comprehensive Income (Loss), Net of Tax	$ (428,771)	$ (253,761)
Financing Receivable, Gross	1,296,587
Contract Receivable, Due in Next Twelve Months	580,775
Contract Receivable, Due in Year Two	715,812
Commitments and Contingencies
Percentage of Income Taxes Benefit	50.00%
Percentage of Fair Value of Collateral Representing Contingent Liability	88.00%
Finite-Lived Intangible Assets, Net	$ 296,091
Goodwill, Impairment Loss		6,179,206
Goodwill	0	0
Operating Lease, Right-of-Use Asset	498,935
Operating Lease, Liability	498,935
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	$ 549,207
Customer Concentration Risk [Member]
Concentration Risk, Percentage	95.00%
Platform And Software Member [Member]
Impairment of Intangible Assets (Excluding Goodwill)	$ 1,225,073
Platform [Member]
Impairment of Intangible Assets (Excluding Goodwill)		2,000,175
Finite-Lived Intangible Assets, Net	1,107,616	2,492,976
Software Development [Member]
Finite-Lived Intangible Assets, Net	80,856	84,545
Automobiles [Member]
Collateral Already Posted, Aggregate Fair Value	10,152,000
Collectibility of Receivables [Member]
Commitments and Contingencies	11,548,000
Collectibility of Receivables [Member] | Investor [Member]
Commitments and Contingencies	797,400
CHINA
Cash, Uninsured Amount	3,070,000	$ 180,000
UNITED STATES
Deposits, Savings Deposits	1,950,000
Cash, FDIC Insured Amount	$ 250,000

ACQUISITION OF HUNAN RUIXI AN_3

ACQUISITION OF HUNAN RUIXI AND ITS VIE (Details)	12 Months Ended
	Mar. 31, 2019USD ($)
Net assets acquired	$ 63,965	[1]
Gain from acquisition of Hunan Ruixi and its subsidiary	0
Noncontrolling interests	0	[2]
Total purchase consideration	$ 0
[1]	Net assets acquired primarily include cash and cash equivalents of $213,645, other current assets of $1,813,821, property and equipment of $107,865, other current liabilities of $711,303 and borrowings from related parties and affiliates of $785,231, and borrowings from financial institutions of $554,802.
[2]	Fair value of the noncontrolling interests is estimated with reference to the purchase price per share as of the acquisition date.

ACQUISITION OF HUNAN RUIXI AN_4

ACQUISITION OF HUNAN RUIXI AND ITS VIE (Details Textual) - USD ($)	Mar. 31, 2019	Nov. 21, 2018
Cash and Cash Equivalents, Fair Value Disclosure		$ 213,645
Other Current Assets Fair value Disclosure		1,813,821
Property, Plant, and Equipment, Fair Value Disclosure		107,865
Other Current Liabilities Fair Value Disclosure		711,303
Due to Related Parties		785,231
Due To Financial Institutions		$ 554,802
Hunan Ruixi [Member]
Equity Method Investment, Ownership Percentage		60.00%
Working Capital		$ 6,000,000
Contributions Towards Working Capital	$ 5,000,000
Registered Capital Percentage		60.00%

ACCOUNTS RECEIVABLE (Details)

ACCOUNTS RECEIVABLE (Details) - USD ($)	Mar. 31, 2019	Mar. 31, 2018
Less: Allowance for doubtful accounts	$ 0	$ 0
Accounts receivable	326,181	0
Fees Due From Borrowers [Member]
Receivables of transaction fees due from borrowers	126,272	0
Services Fees Due From Automobile Purchasers [Member]
Receivables of transaction fees due from borrowers	$ 199,909	$ 0

INVENTORIES (Details)

INVENTORIES (Details) - USD ($)		Mar. 31, 2019	Mar. 31, 2018
Inventory, Net		$ 1,508,244	$ 0
Automobiles [Member]
Inventory, Net	[1]	$ 1,508,244	$ 0
[1]	As of March 31, 2019, the Company owned 41 automobiles with a total value of $670,122 for leasing purposes and 93 automobiles with a total value of $838,122 for sale.

INVENTORIES (Details Textual)

INVENTORIES (Details Textual) - Automobiles [Member]	Mar. 31, 2019Automobile
Inventory Net For Leasing	670,122
Inventory Net Available For Sale	838,122
Fourty One [Member]
Number Of Inventory Units	41
Ninty Three [Member]
Number Of Inventory Units	93

PREPAYMENTS, RECEIVABLES AND _3

PREPAYMENTS, RECEIVABLES AND OTHER ASSETS (Details) - USD ($)		Mar. 31, 2019	Mar. 31, 2018
Receivables [Abstract]
Due from automobile purchasers (i)	[1]	$ 2,564,834	$ 0
Prepayments for automobiles (ii)	[2]	394,821
Deposit		294,986	0
Value added tax ("VAT") recoverable (iii)	[3]	228,196
Deferred issuance costs pursuant to Registration Statement on Form S-3 (iv)	[4]	149,696
Prepaid expenses		112,147	44,861
Loans to employees		0	2,718
Others		48,788	22,842
Prepayments, receivables and other assets		$ 3,793,468	$ 70,421
[1]	Due from automobile purchasers The balance due from automobile purchasers represented the payment of automobiles and related insurances and taxes made on behalf of the automobile purchasers. The balance is expected to be collected from the automobile purchasers in installments. As of March 31, 2019, the Company recorded allowance of $2,995 against doubtful receivables.
[2]	Prepayments for automobiles The balance represented amounts advanced to dealers for automobiles and to other third parties for automobiles related taxes and insurances.
[3]	VAT recoverable The balance of VAT recoverable represented the amount to be utilized to offset the Company’s future value added taxes arising from sales of goods.
[4]	Deferred issuance costs pursuant to Registration Statement on Form S-3 On April 15, 2019, the Company’s Registration Statement on Form S-3 registering up to $80,000,000 in aggregate principal amount of its common stock, preferred stock, debt securities, warrants, rights and/or units were declared effective. The deferred issuance costs pursuant to Form S-3 represented the direct and incremental costs related to the registered direct offering closed on June 21, 2019. The deferred issuance costs would be netted against the gross proceeds of the offering on the effective date of the offering.

PREPAYMENTS, RECEIVABLES AND _4

PREPAYMENTS, RECEIVABLES AND OTHER ASSETS (Details Textual) - USD ($)	Apr. 15, 2019	Mar. 31, 2019	Mar. 31, 2018
Allowance for Doubtful Accounts Receivable, Current		$ 0	$ 0
Subsequent Event [Member]
Sale Of Aggregate Principal Amount Of Our Equity	$ 80,000,000

INTANGIBLE ASSETS, NET (Details

INTANGIBLE ASSETS, NET (Details) - USD ($)	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Intangible Assets, Gross	$ 1,581,090	$ 2,997,094
Less: accumulated amortization	(1,284,999)	(1,043,871)
Intangible assets, net	296,091	1,953,223
Customer relationship [Member]
Intangible Assets, Gross	$ 392,618	419,573
Finite-Lived Intangible Asset, Useful Life	10 years
Platform [Member]
Intangible Assets, Gross	$ 1,107,616	2,492,976
Finite-Lived Intangible Asset, Useful Life	7 years
Software [Member]
Intangible Assets, Gross	$ 80,856	$ 84,545
Software [Member] | Minimum [Member]
Finite-Lived Intangible Asset, Useful Life	5 years
Software [Member] | Maximum [Member]
Finite-Lived Intangible Asset, Useful Life	7 years

INTANGIBLE ASSETS, NET (Detai_2

INTANGIBLE ASSETS, NET (Details 1)	Mar. 31, 2019USD ($)
Twelve months ending December 31, 2020	$ 39,610
Twelve months ending December 31, 2021	39,610
Twelve months ending December 31, 2022	39,610
Twelve months ending December 31, 2023	39,610
Twelve months ending December 31, 2024 and thereafter	137,651
Finite-Lived Intangible Assets, Net	$ 296,091

INTANGIBLE ASSETS, NET (Detai_3

INTANGIBLE ASSETS, NET (Details Textual) - USD ($)	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Indefinite-lived Intangible Assets [Line Items]
Amortization of Intangible Assets	$ 308,043	$ 659,558
Platform And Software [Member]
Indefinite-lived Intangible Assets [Line Items]
Impairment of Intangible Assets (Excluding Goodwill)	$ 1,225,073
Platform [Member]
Indefinite-lived Intangible Assets [Line Items]
Impairment of Intangible Assets (Excluding Goodwill)		$ 2,000,175

PREPAYMENTS FOR INTANGIBLE AS_2

PREPAYMENTS FOR INTANGIBLE ASSETS (Details Textual) - USD ($)	Mar. 31, 2019	Mar. 31, 2018
Prepayments For Intangible Assets	$ 470,706	$ 0
Platform [Member]
Prepayments For Intangible Assets	190,706
Software Development [Member]
Prepayments For Intangible Assets	$ 280,000

BORROWINGS FROM FINANCIAL INS_2

BORROWINGS FROM FINANCIAL INSTITUTIONS, CURRENT AND NONCURRENT (Details Textual) - USD ($)	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Debt Instrument, Interest Rate, Stated Percentage	7.89%
Interest Expense, Borrowings	$ 12,799
Loans Payable to Bank	396,946
Loans Payable to Bank, Noncurrent	$ 177,789	$ 0
Minimum [Member]
Debt Instrument, Interest Rate, Stated Percentage	6.20%
Maximum [Member]
Debt Instrument, Interest Rate, Stated Percentage	8.10%

BORROWINGS FROM THIRD PARTIES_2

BORROWINGS FROM THIRD PARTIES (Details) - USD ($)	Mar. 31, 2019	Mar. 31, 2018
Due To Third Parties [Abstract]
Borrowings from third parties	$ 476,765	$ 0

BORROWINGS FROM THIRD PARTIES_3

BORROWINGS FROM THIRD PARTIES (Detail Textual)	12 Months Ended
	Mar. 31, 2019USD ($)
Due To Third Parties [Abstract]
Debt Instrument, Interest Rate, Stated Percentage	7.89%
Interest Expense, Debt	$ 7,590

ACCRUED EXPENSES AND OTHER LI_3

ACCRUED EXPENSES AND OTHER LIABILITIES (Details) - USD ($)		Mar. 31, 2019	Mar. 31, 2018
Accrued payroll and welfare		$ 614,765	$ 195,695
Other payable	[1]	247,335	194,943
Loan repayments received on behalf of financial institutions	[2]	169,657	0
Payables for expenditures on automobile transaction and related services		157,382	0
Accrued expenses		198,456	0
Customer deposits		82,232	8,495
Other taxes payable		30,976	5,471
Accounts Payable and Other Accrued Liabilities, Current		$ 1,500,803	$ 404,604
[1]	The balance of other payable represented amount due to suppliers and vendors for operation purposes.
[2]	The balance of loan repayments received on behalf of financial institutions represented the loan repayments made by the automobile purchasers to financial institutions through the Company, which has not been paid to the financial institutions as of March 31, 2019.

EMPLOYEE BENEFIT PLAN (Details

EMPLOYEE BENEFIT PLAN (Details Textual) - USD ($)	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Defined Contribution Plan, Cost	$ 106,301	$ 37,136
Defined Benefit Plan, Benefit Obligation	$ 403,646	$ 150,205

EQUITY (Details)

EQUITY (Details)	12 Months Ended
	Mar. 31, 2019$ / sharesshares
Number of Shares
Balance of RSUs outstanding at March 31, 2018 | shares	0
Grants of RSUs | shares	25,000
Vested RSUs | shares	(6,250)
Forfeited RSUs | shares	(7,500)
Balance of unvested RSUs at March 31, 2019 | shares	11,250
Weighted-Average Grant Date Fair Value
Balance of RSUs outstanding at March 31, 2018 | $ / shares	$ 0
Grants of RSUs | $ / shares	4.42
Vested RSUs | $ / shares	4.42
Forfeited RSUs | $ / shares	4.42
Balance of unvested RSUs at March 31, 2019 | $ / shares	$ 4.42

EQUITY (Details Textual)

EQUITY (Details Textual) - USD ($)	1 Months Ended			12 Months Ended
	Jun. 21, 2019	Apr. 05, 2019	Jul. 31, 2018	Mar. 31, 2019	Mar. 31, 2018	Jun. 20, 2019	Apr. 15, 2019	Mar. 15, 2019
Stock Issued During Period, Shares, Restricted Stock Award, Gross			25,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period				25,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value			$ 117,750
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period				7,500
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number				11,250	0
Stock Issued During Period, Shares, New Issues			5,000
Common Stock [Member]
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right				337,940
Class Of Warrant Or Rights Term And Price Description				Each five-year warrant entitles warrant holder to purchase one share of the Company’s common stock at the price of $4.80 per share and is not exercisable for a period of 180 days from March 16, 2018.
Class of Warrant or Right, Number of Securities Called by Warrants or Rights								300,000
Stock Issued During Period, Shares, New Issues					3,000,000
Subsequent Event [Member]
Stock Issued During Period Upon Exercise Of Warrants		65,855
Sale Of Aggregate Principal Amount Of Our Equity							$ 80,000,000
Shares Issued, Price Per Share	$ 3.38
Proceeds from Issuance of Common Stock	$ 6,000,000
Stock Issued During Period, Shares, New Issues	1,781,361
Subsequent Event [Member] | Warrant [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights		300,000
Class of Warrant or Right, Outstanding		37,940
Scenario, Forecast [Member]
Stock Issued During Period, Shares, New Issues	1,781,361
Series A Warrants [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights						$ 3.72
Series A Warrants [Member] | Subsequent Event [Member] | Common Stock [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	1,336,021
Series A Warrants [Member] | Scenario, Forecast [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights							1,336,021
Series B Warrants [Member] | Subsequent Event [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	1,116,320
Series B Warrants [Member] | Subsequent Event [Member] | Common Stock [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	1,116,320						1,116,320
Restricted Stock [Member]
Share-based Compensation				$ 44,200
Restricted Stock Units (RSUs) [Member]
Stock Issued During Period, Shares, Restricted Stock Award, Gross			5,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period			25,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period				7,500
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number				11,250

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Current income tax expenses	$ 21,905	$ 0
Deferred income tax expenses	0	0
Income Tax, Total	$ 21,905	$ 0

INCOME TAXES (Details 1)

INCOME TAXES (Details 1) - USD ($)	Mar. 31, 2019	Mar. 31, 2018
Net operating loss carryforwards in the PRC	$ 886,176	$ 378,085
Net operating loss carryforwards in the U.S.	272,258	43,021
Less: valuation allowance	(1,158,434)	(421,106)
DeferredTaxAssetsNet	$ 0	$ 0

INCOME TAXES (Details 2)

INCOME TAXES (Details 2)	1 Months Ended	12 Months Ended
	Dec. 22, 2017	Mar. 31, 2019	Mar. 31, 2018
PRC statutory tax rate	35.00%	21.00%	31.50%
CHINA
PRC statutory tax rate		25.00%	25.00%
Tax rate difference in other jurisdiction		(1.00%)	(0.10%)
Non-deductible expenses		(0.10%)	0.00%
Non-deductible impairments for intangibles and goodwill		(6.70%)	(22.50%)
Valuation allowance on deferred income tax asset		(17.70%)	(2.40%)
Effective Income Tax Rate Reconciliation, Percent		(0.50%)	0.00%

INCOME TAXES (Details Textual)

INCOME TAXES (Details Textual) - USD ($)	1 Months Ended	12 Months Ended
	Dec. 22, 2017	Mar. 31, 2019	Mar. 31, 2018
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	35.00%	21.00%	31.50%
Deferred Tax Assets, Net of Valuation Allowance		$ 0	$ 0
Deferred Tax Assets, Valuation Allowance, Current		270,000	40,000
Operating Loss Carryforwards		$ 4,793,657	$ 1,512,341
Operating Loss Carryforwards Expiration Year		2023
Deferred Tax Assets, Operating Loss Carryforwards		$ 1,070,000
Net Operating Loss Included In Operating Loss Carryforwards		$ 1,090,000
State Administration of Taxation, China [Member]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent		25.00%

RELATED PARTY TRANSACTIONS AN_3

RELATED PARTY TRANSACTIONS AND BALANCES (Details) - USD ($)		Mar. 31, 2019	Mar. 31, 2018
Related Party Transactions [Abstract]
Loan payable to related parties	[1]	$ 95,781	$ 0
Other payables due to related parties	[2]	297,978	0
Others		22,172	0
Due to Related Parties, Current		$ 415,931	$ 0
[1]	As of March 31, 2019, the balances represented borrowings from the two related parties. Both balances have an interest rate of 10% per annum and are due in the fiscal year of 2020. Interest expense for the year ended March 31, 2019 was $2,579.
[2]	As of March 31, 2019, the balance represented borrowings from two related parties, who obtained borrowings from the online P2P lending platform of Sichuan Senmiao and then loaned the money to Jinkailong. Both balances have an interest rate of 8.22% per annum and are due in the fiscal year of 2020. The balances due to related parties were fully paid off on April 8, 2019 and April 12, 2019, respectively.

RELATED PARTY TRANSACTIONS AN_4

RELATED PARTY TRANSACTIONS AND BALANCES (Details 1) - USD ($)		Mar. 31, 2019	Mar. 31, 2018
Outstanding balance	[1]	$ 95,781	$ 0
Chengdu Mashangchuxing Automobile Leasing Co Ltd [Member]
Loan amount	[2]	149,529
Outstanding balance	[2]	148,989
Sichuan Yudinxin Huanya Technology Co Ltd [Member]
Loan amount		149,529
Outstanding balance		148,989
Chengdu Laobingchuxing Automobile Leasing Co Ltd [Member]
Loan amount		149,529
Outstanding balance		0
Sichuan Dinhengxin Automobile Services Co Ltd [Member]
Loan amount		149,529
Outstanding balance		0
Chengdu Jinkailong Automobile Sales Co Ltd [Member]
Loan amount	[3]	149,529
Outstanding balance	[3]	$ 0
[1]	As of March 31, 2019, the balances represented borrowings from the two related parties. Both balances have an interest rate of 10% per annum and are due in the fiscal year of 2020. Interest expense for the year ended March 31, 2019 was $2,579.
[2]	Mr. Yiqiang He is a principal shareholder of Jinkailong. Ms. Xi Yang is his spouse.
[3]	Mr. Xiaoliang Chen is a principal shareholder of Jinkailong.

RELATED PARTY TRANSACTIONS AN_5

RELATED PARTY TRANSACTIONS AND BALANCES (Details Textual) - USD ($)	Nov. 01, 2018	Dec. 31, 2017	Mar. 31, 2019	Mar. 31, 2018
Repayments of Related Party Debt			$ 487,115	$ 0
Operating Leases, Rent Expense, Net			$ 195,686	122,741
Debt Instrument, Interest Rate, Stated Percentage			7.89%
Related Party Transaction, Other Revenues from Transactions with Related Party			$ 530	1,363
Interest expense			$ 33,878	0
Lessee Operating Lease Contract Period Description			November 1, 2018 to October 31, 2023
Operating Leases, Rent Expense			$ 13,597
Operating Leases Annual Rental Payments	$ 44,250
Xiang Hu [Member]
Proceeds from Related Party Debt		$ 955,000
Related Party Transaction, Expenses from Transactions with Related Party			62,806
Jun Wang [Member]
Proceeds from Related Party Debt		$ 159,000
Repayments of Related Party Debt			500,000
Related Party Transaction, Expenses from Transactions with Related Party			$ 7,881
Hong Li [Member]
Lease Expiration Date			Jan. 1, 2020
Operating Leases, Rent Expense, Net			$ 113,742	$ 86,405
Jinkailong [Member]
Debt Instrument, Interest Rate, Stated Percentage			8.22%
Interest expense			$ 3,863
Jinkailong [Member] | Maximum [Member]
Debt Instrument, Interest Rate, Stated Percentage			8.22%
Jinkailong [Member] | Minimum [Member]
Debt Instrument, Interest Rate, Stated Percentage			7.68%
Share Holders [Member]
Debt Instrument, Interest Rate, Stated Percentage			10.00%
Sichuan Senmiao [Member]
Repayments of Related Party Debt			$ 442,132
Related Party Debt Face Amount Borrowed			747,647
Sichuan Senmiao [Member] | Jinkailong [Member]
Interest expense			$ 7,047

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Details)	Mar. 31, 2019USD ($)
2020	$ 206,552
2021	145,108
2022	32,407
2023	6,150
2024 and thereafter	1,614
Operating Leases, Future Minimum Payments Due	$ 391,831

COMMITMENTS AND CONTINGENCIES_3

COMMITMENTS AND CONTINGENCIES (Details Textual)	12 Months Ended
	Mar. 31, 2019USD ($)Automobile	Mar. 31, 2018USD ($)	May 31, 2019USD ($)Automobile	Apr. 01, 2019USD ($)Automobile
Operating Leases, Rent Expense, Net	$ 195,686	$ 122,741
Subsequent Event [Member]
Purchase Commitment, Remaining Minimum Amount Committed				$ 2,700,000
Number Of Automobiles | Automobile				226
Yicheng Financial Leasing Co Ltd [Member] | Subsequent Event [Member]
Purchase Commitment, Remaining Minimum Amount Committed			$ 4,800,000
Number Of Automobiles | Automobile			450
Hunan Ruixi [Member]
Purchase Commitment, Remaining Minimum Amount Committed	$ 300,000
Number Of Automobiles | Automobile	50

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details) - USD ($)	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenues	$ 2,921,063	$ 494,897
Loss before income taxes	(4,520,620)	(9,858,972)
Net loss	(4,549,869)	$ (9,858,972)
Online Lending Services [Member]
Revenues	369,956
Income / (Loss) from operations	(3,378,157)
Loss before income taxes	(3,358,842)
Net loss	(3,358,842)
Automobile transaction and related services [Member]
Revenues	2,551,107
Income / (Loss) from operations	87,890
Loss before income taxes	(9,942)
Net loss	(31,847)
Unallocated [Member]
Revenues	0
Income / (Loss) from operations	(1,158,645)
Loss before income taxes	(1,151,836)
Net loss	(1,151,836)
Consolidated [Member]
Revenues	2,921,063
Income / (Loss) from operations	(4,448,912)
Loss before income taxes	(4,520,620)
Net loss	$ (4,542,525)

SEGMENT INFORMATION (Details Te

SEGMENT INFORMATION (Details Textual) - USD ($)	Mar. 31, 2019	Mar. 31, 2018
Assets	$ 12,314,135	$ 14,374,082
Online Lending Services [Member]
Assets	1,695,391
Automobile Transactions and Financing Services [Member]
Assets	7,580,070
Unallocated [Member]
Assets	$ 3,038,674

PARENT-ONLY FINANCIALS CONDENSE

PARENT-ONLY FINANCIALS CONDENSED BALANCE SHEETS (Details) - USD ($)	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Current Assets
Cash and cash equivalents	$ 5,020,510	$ 11,141,566	$ 161,292
Due from investors	140,498	0
Prepayments, receivables and other assets	48,788	22,842
Escrow receivable	600,000	0
Total Current Assets	11,399,155	11,211,987
Other Assets
Prepayments for intangible assets	470,706	0
Total Assets	12,314,135	14,374,082
LIABILITIES AND EQUITY
Total Liabilities	3,931,393	1,495,412
Stockholders' Equity
Common stock (par value $0.0001 per share, 100,000,000 shares authorized; 25,945,255 shares issued and outstanding at March 31, 2019 and 2018)	2,595	2,588
Accumulated deficit	(15,031,538)	(10,481,669)
Accumulated other comprehensive loss	(428,771)	(253,761)
Total Stockholders' Equity	8,375,398	12,878,670
Noncontrolling interests	7,344	0
Total Equity	8,382,742	12,878,670	9,630,669
Total Liabilities and Equity	12,314,135	14,374,082
Parent Company [Member]
Current Assets
Cash and cash equivalents	1,950,347	10,961,071	$ 0
Due from investors	1,900,000	0
Prepayments, receivables and other assets	208,327	39,964
Escrow receivable	600,000	0
Total Current Assets	4,658,674	11,001,035
Other Assets
Prepayments for intangible assets	280,000	0
Escrow receivable	0	1,200,000
Investments in subsidiaries	3,726,240	830,562
Total Assets	8,664,914	13,031,597
LIABILITIES AND EQUITY
Total Liabilities	282,172	152,927
Stockholders' Equity
Common stock (par value $0.0001 per share, 100,000,000 shares authorized; 25,945,255 shares issued and outstanding at March 31, 2019 and 2018)	2,595	2,588
Additional paid-in capital	23,833,112	23,611,512
Accumulated deficit	(15,031,538)	(10,481,669)
Accumulated other comprehensive loss	(428,771)	(253,761)
Total Stockholders' Equity	8,375,398	12,878,670
Noncontrolling interests	7,344	0
Total Equity	8,382,742	12,878,670
Total Liabilities and Equity	$ 8,664,914	$ 13,031,597

PARENT-ONLY FINANCIALS CONDEN_2

PARENT-ONLY FINANCIALS CONDENSED BALANCE SHEETS (Parenthetical) (Details) - $ / shares	Mar. 31, 2019	Mar. 31, 2018
Common Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized	100,000,000	100,000,000
Common Stock, Shares, Issued	25,945,255	25,879,400
Common Stock, Shares, Outstanding	25,945,255	25,879,400
Parent Company [Member]
Common Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized	100,000,000	100,000,000
Common Stock, Shares, Issued	25,945,255	25,945,255
Common Stock, Shares, Outstanding	25,945,255	25,945,255

PARENT-ONLY FINANCIALS CONDEN_3

PARENT-ONLY FINANCIALS CONDENSED STATEMENTS OF OPERATIONS (Details) - USD ($)	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
General and administrative expenses	$ (4,024,672)	$ (1,517,804)
Net loss	(4,542,525)	(9,858,972)
Net income attributable to noncontrolling interests	7,344	0
Foreign currency translation adjustment	(175,010)	854,001
Comprehensive loss attributable to stockholders	(4,717,535)	(9,004,971)
Parent Company [Member]
General and administrative expenses	(1,098,416)	(204,864)
Other income, net	6,810	0
Equity of losses in subsidiaries	(3,450,919)	(9,654,108)
Net loss	(4,542,525)	(9,858,972)
Net income attributable to noncontrolling interests	(7,344)	0
Foreign currency translation adjustment	(175,010)	854,001
Comprehensive loss attributable to stockholders	$ (4,724,879)	$ (9,004,971)

PARENT-ONLY FINANCIALS CONDEN_4

PARENT-ONLY FINANCIALS CONDENSED STATEMENTS OF CASH FLOWS (Details) - USD ($)	1 Months Ended	12 Months Ended
	Mar. 16, 2018	Mar. 31, 2019	Mar. 31, 2018
Cash Flows from Operating Activities
Net loss		$ (4,542,525)	$ (9,858,972)
Changes in operating assets and liabilities:
Prepayments, receivables and other assets		(1,930,415)	0
Accrued expenses and other liabilities		380,256	293,892
Cash Flows Used in Operating Activities		(6,256,226)	(775,305)
Cash Flows from Investing Activities:
Deposits in intangible assets		(471,555)	0
Working capital contribution for subsidiaries		(6,300,000)	0
Cash Flows Used in Investing Activities		(532,625)	(2,990)
Cash Flows from Financing Activities:
Net Proceeds from issuance of common stock in initial public offering		0	9,641,604
Proceeds from exercise of the underwriter's overallotment option		0	1,411,368
Proceeds borrowed from stockholders		1,973,479	792,382
Repayment of borrowing to stockholders		(487,115)	0
Release of escrow		600,000	0
Cash Flows (Used in) Provided by Financing Activities		701,207	11,739,724
Net (decrease) increase in cash and cash equivalents		(6,121,056)	10,980,274
Cash and cash equivalents at beginning of year		11,141,566	161,292
Cash and cash equivalents at end of year		5,020,510	11,141,566
Supplemental Cash Flows Information:
Income tax paid		0	0
Non-cash Investing and Financing Activities:
IPO issuance costs net against additional paid-in capital		0	1,264,628
Escrow in connection with IPO		0	1,200,000
Parent Company [Member]
Cash Flows from Operating Activities
Net loss		(4,542,525)	(9,858,972)
Adjustments to reconcile net loss to net cash used in operating activities:
Equity of losses of subsidiaries		3,450,919	9,654,108
Changes in operating assets and liabilities:
Prepayments, receivables and other assets		(168,362)	(39,964)
Accrued expenses and other liabilities		129,090	81,927
Cash Flows Used in Operating Activities		(1,130,948)	(162,901)
Cash Flows from Investing Activities:
Deposits in intangible assets		(280,000)	0
Cash Flows Used in Investing Activities		(6,580,000)	0
Cash Flows from Financing Activities:
Net Proceeds from issuance of common stock in initial public offering	$ 12,200,000	0	9,641,604
Proceeds from exercise of the underwriter's overallotment option		0	1,411,368
Proceeds borrowed from stockholders		154	71,000
Repayment of borrowing to stockholders		(1,900,000)	0
Release of escrow		600,000	0
Cash Flows (Used in) Provided by Financing Activities		(1,299,846)	11,123,972
Net (decrease) increase in cash and cash equivalents		(9,010,724)	10,961,071
Cash and cash equivalents at beginning of year		10,961,071	0
Cash and cash equivalents at end of year		1,950,347	10,961,071
Supplemental Cash Flows Information:
Income tax paid		0	0
Interest paid		0	0
Non-cash Investing and Financing Activities:
IPO issuance costs net against additional paid-in capital		0	1,264,628
Escrow in connection with IPO		0	1,200,000
IPO expenses paid by the Company's stockholders		$ 70,687	$ 67,277

PARENT-ONLY FINANCIALS (Details

PARENT-ONLY FINANCIALS (Details Textual) - USD ($)	1 Months Ended				12 Months Ended		14 Months Ended
	Jul. 31, 2018	Mar. 28, 2018	Mar. 16, 2018	Jan. 29, 2018	Mar. 31, 2019	Mar. 31, 2018	Sep. 18, 2017
Stock Issued During Period, Shares, New Issues	5,000
Stock Issued During Period, Value, New Issues						$ 10,735,372
Stockholders' Equity, Reverse Stock Split				one-for-two reverse stock split
Proceeds from Issuance Initial Public Offering					$ 0	$ 9,641,604
Stock Issued During Period, Shares, Restricted Stock Award, Gross	25,000
Stock Issued During Period, Value, Restricted Stock Award, Gross	$ 117,750
Allocated Share-based Compensation Expense					$ 44,200
Common Stock, Shares, Outstanding					25,945,255	25,879,400
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period					7,500
Common Stock [Member]
Stock Issued During Period, Shares, New Issues						3,000,000
Stock Issued During Period, Value, New Issues						$ 300
Common Stock, Shares, Outstanding				22,500,000
Restricted Stock Units (RSUs) [Member]
Stock Issued During Period, Shares, Restricted Stock Award, Gross	5,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period					7,500
Employee Service Share Based Compensation Nonvested Number Of Awards Not Yet Recognized Share Based Awards Other Than Options					11,250
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition					6 months
Parent Company [Member]
Stock Issued During Period, Shares, New Issues			3,000,000				45,000,000
Stock Issued During Period, Value, New Issues			$ 13,500,000				$ 4,500
Shares Issued, Price Per Share			$ 4
Proceeds from Issuance Initial Public Offering			$ 12,200,000		$ 0	$ 9,641,604
Common Stock, Shares, Outstanding					25,945,255	25,945,255
Parent Company [Member] | Over-Allotment Option [Member]
Stock Issued During Period, Value, New Issues		$ 379,400

SUBSEQUENT EVENTS (Details Text

SUBSEQUENT EVENTS (Details Textual) - USD ($)	1 Months Ended			12 Months Ended
	Jun. 21, 2019	May 16, 2019	Jul. 31, 2018	Mar. 31, 2019	Mar. 31, 2018	May 31, 2019	Apr. 15, 2019	Mar. 15, 2019
Consulting Service Fee Percentage				30.00%
Penalty Fee Percentage On Monthly Consulting Service Fee				0.01%
Stock Issued During Period, Shares, New Issues			5,000
Common Stock [Member]
Stock Issued During Period, Shares, New Issues					3,000,000
Class of Warrant or Right, Number of Securities Called by Warrants or Rights								300,000
Scenario, Forecast [Member]
Annual Bonus Terms		cash bonus of up to US$50,000 for his services as Chief Executive Officer of the Company for the fiscal year ending March 31, 2020 upon satisfaction of the performance targets as reviewed by the Compensation Committee.
Stock Issued During Period, Shares, New Issues	1,781,361
Scenario, Forecast [Member] | Series A Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights							1,336,021
Yicheng Financial Leasing Co Ltd [Member] | Scenario, Forecast [Member]
Registered Share Capital						$ 50,000,000
Subsequent Event [Member]
Stock Issued During Period, Shares, New Issues	1,781,361
Shares Issued, Price Per Share	$ 3.38
Proceeds from Issuance of Common Stock	$ 6,000,000
Subsequent Event [Member] | Series B Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	1,116,320
Subsequent Event [Member] | Series B Warrants [Member] | Common Stock [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	1,116,320						1,116,320
Subsequent Event [Member] | Series A Warrants [Member] | Common Stock [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	1,336,021
Chief Executive Officer [Member] | Scenario, Forecast [Member]
Annual Salary Terms		an annual salary of US$100,000 for his service as Chief Executive Officer of the Company, payable quarterly in arrears, starting upon the Company’s receipt of proceeds from a financing of at least $1,000,000
Executive Officer [Member] | Scenario, Forecast [Member]
Annual Salary Terms		an annual salary of RMB 600,000 (approximately US$86,877) for his service as the Executive Director for Sichuan Senmiao, payable monthly in arrears starting upon the Company’s receipt of proceeds from a financing of at least $1 million