10-Q Filing

ADAMANT DRI PROCESSING & MINERALS GROUP CIK: 1171008 Q3 2014

Filing Information

Form Type	10-Q
Accession Number	`0001193805-14-002192`
Period End Date	20140930
Filing Date	20141114
Fiscal Year	2014
Fiscal Period	Q3
XBRL Instance	uhfi-20140930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 80 Income Statement 64 Cash Flow Statement 54

Balance Sheet 80 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash & equivalents	`CashAndCashEquivalentsAtCarryingValue`	$27.31K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Cash & equivalents	`CashAndCashEquivalentsAtCarryingValue`	$129.88K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	101.00M	shares	Point-in-time
Inventory	`InventoryGross`	$692.86K	USD	Point-in-time
Inventory	`InventoryGross`	$3.25M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	45.92M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	24.79M	shares	Point-in-time
Value-added tax receivable	`ValueAddedTaxReceivable`	-	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	45.92M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	24.79M	shares	Point-in-time
Value-added tax receivable	`ValueAddedTaxReceivable`	$2.34M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Advance to suppliers	`AdvanceToSuppliers`	$929.87K	USD	Point-in-time
Advance to suppliers	`AdvanceToSuppliers`	-	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$4.89K	USD	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$1.56M	USD	Point-in-time
Preferred stock, authorized shares	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, authorized shares	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$8.20M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$725.06K	USD	Point-in-time
Preferred stock, issued shares	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, issued shares	`PreferredStockSharesIssued`	1.00	shares	Point-in-time
Preferred stock, outstanding shares	`PreferredStockSharesOutstanding`	1.00	shares	Point-in-time
Preferred stock, outstanding shares	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$34.07M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$8.07M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$536.70K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$5.35M	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$7.43M	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$9.04M	USD	Point-in-time
Advance to suppliers for construction and equipment	`AdvanceToSuppliersForConstructionAndEquipment`	$-1.05M	USD	Point-in-time
Advance to suppliers for construction and equipment	`AdvanceToSuppliersForConstructionAndEquipment`	$-1.07M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsGross`	$3.36K	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsGross`	-	USD	Point-in-time
Goodwill	`Goodwill`	-	USD	Point-in-time
Goodwill	`Goodwill`	$5.07M	USD	Point-in-time
Total noncurrent assets	`AssetsNoncurrent`	$17.10M	USD	Point-in-time
Total noncurrent assets	`AssetsNoncurrent`	$54.60M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$17.82M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$62.80M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.72M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$248.00	USD	Point-in-time
Accrued liabilities and other payables	`AccountsPayableAndOtherAccruedLiabilities`	$608.62K	USD	Point-in-time
Accrued liabilities and other payables	`AccountsPayableAndOtherAccruedLiabilities`	$14.53M	USD	Point-in-time
Income tax payable	`TaxesPayableCurrent`	$135.59K	USD	Point-in-time
Income tax payable	`TaxesPayableCurrent`	$134.37K	USD	Point-in-time
Payable to contractors	`PayableToContractors`	$902.10K	USD	Point-in-time
Payable to contractors	`PayableToContractors`	$893.95K	USD	Point-in-time
Advance from related parties	`AdvanceFromRelatedParty`	$40.27M	USD	Point-in-time
Advance from related parties	`AdvanceFromRelatedParty`	$9.47M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$11.11M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$58.55M	USD	Point-in-time
Accrued expense	`AccruedExpense`	$-13.30K	USD	Point-in-time
Accrued expense	`AccruedExpense`	$-13.43K	USD	Point-in-time
Deferred tax liability, net	`DeferredTaxAssetsLiabilitiesNet`	$-557.69K	USD	Point-in-time
Deferred tax liability, net	`DeferredTaxAssetsLiabilitiesNet`	-	USD	Point-in-time
Total noncurrent liabilities	`LiabilitiesNoncurrent`	$13.43K	USD	Point-in-time
Total noncurrent liabilities	`LiabilitiesNoncurrent`	$571.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$11.13M	USD	Point-in-time
Total liabilities	`Liabilities`	$59.12M	USD	Point-in-time
Convertible preferred stock: $0.001 par value; 10,000,000 shares authorized, 1 share issued and outstanding at September 30, 2014 and December 31, 2013	`PreferredStockValue`	-	USD	Point-in-time
Convertible preferred stock: $0.001 par value; 10,000,000 shares authorized, 1 share issued and outstanding at September 30, 2014 and December 31, 2013	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value; authorized shares 101,000,000; issued and outstanding 45,920,310 and 24,786,212 shares at September 30, 2014 and December 31, 2013, respectively	`CommonStockValue`	$45.93K	USD	Point-in-time
Common stock, $0.001 par value; authorized shares 101,000,000; issued and outstanding 45,920,310 and 24,786,212 shares at September 30, 2014 and December 31, 2013, respectively	`CommonStockValue`	$24.79K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$5.28M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$7.02M	USD	Point-in-time
Statutory reserves	`StatutoryReserves`	$557.25K	USD	Point-in-time
Statutory reserves	`StatutoryReserves`	$557.25K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossBeforeTax1`	$721.36K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossBeforeTax1`	$794.67K	USD	Point-in-time
Retained earnings (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$38.99K	USD	Point-in-time
Retained earnings (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$-4.67M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$3.68M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$6.70M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$62.80M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$17.82M	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
General and administrative	`GeneralAndAdministrativeExpense`	$539.56K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$447.23K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$4.01M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.23M	USD	3 Qtrs
Loss from operations	`IncomeLossFromContinuingOperations`	$-4.01M	USD	3 Qtrs
Loss from operations	`IncomeLossFromContinuingOperations`	$-539.56K	USD	1 Quarter
Loss from operations	`IncomeLossFromContinuingOperations`	$-1.23M	USD	3 Qtrs
Loss from operations	`IncomeLossFromContinuingOperations`	$-447.23K	USD	1 Quarter
Interest income	`InterestIncomeExpenseNet`	$-59.00	USD	3 Qtrs
Interest income	`InterestIncomeExpenseNet`	$-63.00	USD	3 Qtrs
Interest income	`InterestIncomeExpenseNet`	$-20.00	USD	1 Quarter
Interest income	`InterestIncomeExpenseNet`	$-19.00	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$-712.51K	USD	3 Qtrs
Interest expense	`InterestExpenseDebt`	-	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$-271.70K	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	-	USD	3 Qtrs
Financial expense	`FinancialExpense`	$-1.07K	USD	3 Qtrs
Financial expense	`FinancialExpense`	-	USD	3 Qtrs
Financial expense	`FinancialExpense`	$-531.00	USD	1 Quarter
Financial expense	`FinancialExpense`	$-128.00	USD	1 Quarter
Other expense	`OtherExpenses`	-	USD	1 Quarter
Other expense	`OtherExpenses`	$-397.00	USD	3 Qtrs
Other expense	`OtherExpenses`	$-4.88K	USD	3 Qtrs
Other expense	`OtherExpenses`	$-3.25K	USD	1 Quarter
Total non-operating expenses, net	`OperatingExpenses`	$-275.46K	USD	1 Quarter
Total non-operating expenses, net	`OperatingExpenses`	$-718.40K	USD	3 Qtrs
Total non-operating expenses, net	`OperatingExpenses`	$-338.00	USD	3 Qtrs
Total non-operating expenses, net	`OperatingExpenses`	$-108.00	USD	1 Quarter
Loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-815.02K	USD	1 Quarter
Loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-4.73M	USD	3 Qtrs
Loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-447.34K	USD	1 Quarter
Loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-1.23M	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$-2.82K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$-18.18K	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net loss	`ProfitLoss`	$-447.34K	USD	1 Quarter
Net loss	`ProfitLoss`	$-4.71M	USD	3 Qtrs
Net loss	`ProfitLoss`	$-812.20K	USD	1 Quarter
Net loss	`ProfitLoss`	$-1.23M	USD	3 Qtrs
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToNoncontrollingInterest`	$-13.18K	USD	1 Quarter
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToNoncontrollingInterest`	$-73.32K	USD	3 Qtrs
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToNoncontrollingInterest`	$37.78K	USD	1 Quarter
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToNoncontrollingInterest`	$176.78K	USD	3 Qtrs
Net comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-409.56K	USD	1 Quarter
Net comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-825.38K	USD	1 Quarter
Net comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-1.05M	USD	3 Qtrs
Net comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-4.78M	USD	3 Qtrs
Basic weighted average shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	24.79M	shares	1 Quarter
Basic weighted average shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	45.92M	shares	1 Quarter
Basic weighted average shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	42.52M	shares	3 Qtrs
Basic weighted average shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	24.79M	shares	3 Qtrs
Diluted weighted average shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	24.79M	shares	1 Quarter
Diluted weighted average shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	63.76M	shares	1 Quarter
Diluted weighted average shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	24.79M	shares	3 Qtrs
Diluted weighted average shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	60.96M	shares	3 Qtrs
Basic net loss per share	`EarningsPerShareBasic`	$-0.02	USD	1 Quarter
Basic net loss per share	`EarningsPerShareBasic`	$-0.05	USD	3 Qtrs
Basic net loss per share	`EarningsPerShareBasic`	$-0.02	USD	1 Quarter
Basic net loss per share	`EarningsPerShareBasic`	$-0.11	USD	3 Qtrs
Diluted net loss per share	`EarningsPerShareDiluted`	$-0.11	USD	3 Qtrs
Diluted net loss per share	`EarningsPerShareDiluted`	$-0.05	USD	3 Qtrs
Diluted net loss per share	`EarningsPerShareDiluted`	$-0.02	USD	1 Quarter
Diluted net loss per share	`EarningsPerShareDiluted`	$-0.02	USD	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-447.34K	USD	1 Quarter
Net loss	`ProfitLoss`	$-4.71M	USD	3 Qtrs
Net loss	`ProfitLoss`	$-812.20K	USD	1 Quarter
Net loss	`ProfitLoss`	$-1.23M	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$797.67K	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$2.22M	USD	3 Qtrs
Change in deferred tax	`ChangeInDeferredTax`	$-18.18K	USD	3 Qtrs
Change in deferred tax	`ChangeInDeferredTax`	-	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$1.81K	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$20.77K	USD	3 Qtrs
Other receivable	`IncreaseDecreaseInOtherReceivables`	-	USD	3 Qtrs
Other receivable	`IncreaseDecreaseInOtherReceivables`	$1.55M	USD	3 Qtrs
Advance to suppliers	`IncreaseDecreaseAdvanceToSuppliers`	$2.08M	USD	3 Qtrs
Advance to suppliers	`IncreaseDecreaseAdvanceToSuppliers`	$930.15K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	-	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$92.66K	USD	3 Qtrs
Accrued liabilities and other payables	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$15.59K	USD	3 Qtrs
Accrued liabilities and other payables	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$-6.95M	USD	3 Qtrs
Tax payable	`IncreaseDecreaseInIncomeTaxes`	-	USD	3 Qtrs
Tax payable	`IncreaseDecreaseInIncomeTaxes`	$-151.22K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-12.02M	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.50M	USD	3 Qtrs
Construction in progress	`ConstructionInProgressExpendituresIncurredButNotYetPaid`	$3.69M	USD	3 Qtrs
Construction in progress	`ConstructionInProgressExpendituresIncurredButNotYetPaid`	$1.18M	USD	3 Qtrs
Acquisition of property, plant & equipment	`AcquisitionOfPropertyPlantEquipment`	$15.52K	USD	3 Qtrs
Acquisition of property, plant & equipment	`AcquisitionOfPropertyPlantEquipment`	$970.32K	USD	3 Qtrs
Acquisition of China Huaxin, net of cash acquired	`AcquisitionOfChinaHuaxinNetOfCashAcquired`	$1.51M	USD	3 Qtrs
Acquisition of China Huaxin, net of cash acquired	`AcquisitionOfChinaHuaxinNetOfCashAcquired`	-	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.71M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.66M	USD	3 Qtrs
Proceeds from convertible debts	`ProceedsFromConvertibleDebt`	$1.64M	USD	3 Qtrs
Proceeds from convertible debts	`ProceedsFromConvertibleDebt`	-	USD	3 Qtrs
Advance from related party	`ProceedsFromRelatedPartyDebt`	$14.14M	USD	3 Qtrs
Advance from related party	`ProceedsFromRelatedPartyDebt`	$6.21M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$15.78M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$6.21M	USD	3 Qtrs
EFFECT OF EXCHANGE RATE CHANGE ON CASH & EQUIVALENTS	`EffectOfExchangeRateOnCashContinuingOperations`	$625.00	USD	3 Qtrs
EFFECT OF EXCHANGE RATE CHANGE ON CASH & EQUIVALENTS	`EffectOfExchangeRateOnCashContinuingOperations`	$-564.00	USD	3 Qtrs
NET INCREASE (DECREASE) IN CASH & EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-108.00	USD	3 Qtrs
NET INCREASE (DECREASE) IN CASH & EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$102.57K	USD	3 Qtrs
CASH & EQUIVALENTS, BEGINNING OF PERIOD	`Cash`	$129.88K	USD	Point-in-time
CASH & EQUIVALENTS, BEGINNING OF PERIOD	`Cash`	$27.31K	USD	Point-in-time
CASH & EQUIVALENTS, BEGINNING OF PERIOD	`Cash`	$28.19K	USD	Point-in-time
CASH & EQUIVALENTS, BEGINNING OF PERIOD	`Cash`	$28.30K	USD	Point-in-time
CASH & EQUIVALENTS, END OF PERIOD	`Cash`	$129.88K	USD	Point-in-time
CASH & EQUIVALENTS, END OF PERIOD	`Cash`	$27.31K	USD	Point-in-time
CASH & EQUIVALENTS, END OF PERIOD	`Cash`	$28.19K	USD	Point-in-time
CASH & EQUIVALENTS, END OF PERIOD	`Cash`	$28.30K	USD	Point-in-time
Income tax paid	`IncomeTaxesPaid`	-	USD	3 Qtrs
Income tax paid	`IncomeTaxesPaid`	-	USD	3 Qtrs
Interest paid	`InterestPaid`	-	USD	3 Qtrs
Interest paid	`InterestPaid`	-	USD	3 Qtrs
Conversion of convertible debts into common stock	`ConversionOfConvertibleDebtsIntoCommonStock`	-	USD	3 Qtrs
Conversion of convertible debts into common stock	`ConversionOfConvertibleDebtsIntoCommonStock`	$1.64M	USD	3 Qtrs

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.