Note 14 - Future Minimum Lease Payments

12 Months Ended

Mar. 31, 2018

Notes

Note 14 - Future Minimum Lease Payments

NOTE 14 – FUTURE MINIMUM LEASE PAYMENTS

As of March 31, 2018, future minimum lease payments under the operating leases pursuant to the three Farmland Leasing Agreements were as follows:

Fiscal year ended March 31,	Shiqiao Village		Shandong Wanziyuan		Zhongce Shen Village		Total  Operating Leases
2019	$	1,466,261	$	-	$	-	$	1,466,261
2020		-		1,590,305		-		1,590,305
2021		-		-		1,590,305		1,590,305
2022		-		-		-		-
2023		-		-		-		-
2024 and thereafter		5,979,548		1,272,244		1,272,244		8,524,036
Total minimum lease payments	$	7,445,809	$	2,862,549	$	2,862,549	$	13,170,907

The lease of Zhongce No.4 Village farmland was terminated by the lessor on April 1, 2017. Therefore, there are no more future payments for the canceled lease of Zhongce No.4 Village farmland.