10-Q Filing

ADAMANT DRI PROCESSING & MINERALS GROUP CIK: 1171008 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001193805-15-000768`
Period End Date	20150331
Filing Date	20150515
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	uhfi-20150331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 80 Income Statement 38 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`	$269.25K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Cash & equivalents	`CashAndCashEquivalentsAtCarryingValue`	$338.30K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	63.76M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	63.76M	shares	Point-in-time
Inventory, net	`InventoryGross`	$2.15M	USD	Point-in-time
Inventory, net	`InventoryGross`	$2.25M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	63.76M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	63.76M	shares	Point-in-time
Advance to suppliers	`AdvanceToSuppliers`	$886.54K	USD	Point-in-time
Advance to suppliers	`AdvanceToSuppliers`	$881.73K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Value-added tax receivable	`ValueAddedTaxReceivable`	$3.10M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Value-added tax receivable	`ValueAddedTaxReceivable`	$3.13M	USD	Point-in-time
Preferred stock, authorized shares	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$1.12M	USD	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$1.41M	USD	Point-in-time
Preferred stock, authorized shares	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred stock, issued shares	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$7.66M	USD	Point-in-time
Preferred stock, issued shares	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$7.89M	USD	Point-in-time
Preferred stock, outstanding shares	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, outstanding shares	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$32.46M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$31.57M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$3.60M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$3.64M	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$10.23M	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$10.14M	USD	Point-in-time
Goodwill	`Goodwill`	$6.54M	USD	Point-in-time
Goodwill	`Goodwill`	$6.52M	USD	Point-in-time
Advance to suppliers for construction and equipment	`AdvanceToSuppliersForConstructionAndEquipment`	$-186.61K	USD	Point-in-time
Advance to suppliers for construction and equipment	`AdvanceToSuppliersForConstructionAndEquipment`	$-155.74K	USD	Point-in-time
Total noncurrent assets	`AssetsNoncurrent`	$52.94M	USD	Point-in-time
Total noncurrent assets	`AssetsNoncurrent`	$52.09M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$59.98M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$60.60M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.73M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.74M	USD	Point-in-time
Accrued liabilities and other payables	`AccountsPayableAndOtherAccruedLiabilities`	$13.98M	USD	Point-in-time
Accrued liabilities and other payables	`AccountsPayableAndOtherAccruedLiabilities`	$14.34M	USD	Point-in-time
Income tax payable	`TaxesPayableCurrent`	$134.59K	USD	Point-in-time
Income tax payable	`TaxesPayableCurrent`	$135.10K	USD	Point-in-time
Short term loan	`ShortTermBorrowings`	$212.45K	USD	Point-in-time
Short term loan	`ShortTermBorrowings`	$211.65K	USD	Point-in-time
Payable to contractors	`PayableToContractors`	$895.45K	USD	Point-in-time
Payable to contractors	`PayableToContractors`	$898.84K	USD	Point-in-time
Advance from related parties	`AdvanceFromRelatedParty`	$42.36M	USD	Point-in-time
Advance from related parties	`AdvanceFromRelatedParty`	$41.85M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$60.66M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$59.81M	USD	Point-in-time
Deferred tax liability	`DeferredTaxAssetsLiabilitiesNet`	$-58.86K	USD	Point-in-time
Deferred tax liability	`DeferredTaxAssetsLiabilitiesNet`	$-66.49K	USD	Point-in-time
Accrued expense	`AccruedExpense`	$-13.33K	USD	Point-in-time
Accrued expense	`AccruedExpense`	$-13.38K	USD	Point-in-time
Total noncurrent liabilities	`LiabilitiesNoncurrent`	$79.87K	USD	Point-in-time
Total noncurrent liabilities	`LiabilitiesNoncurrent`	$72.19K	USD	Point-in-time
Total liabilities	`Liabilities`	$59.89M	USD	Point-in-time
Total liabilities	`Liabilities`	$60.73M	USD	Point-in-time
Convertible preferred stock: $0.001 par value; 1,000,000 shares authorized, no share issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Convertible preferred stock: $0.001 par value; 1,000,000 shares authorized, no share issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value; authorized shares 100,000,000; issued and outstanding 63,760,110 shares at March 31, 2015 and December 31, 2014	`CommonStockValue`	$63.76K	USD	Point-in-time
Common stock, $0.001 par value; authorized shares 100,000,000; issued and outstanding 63,760,110 shares at March 31, 2015 and December 31, 2014	`CommonStockValue`	$63.76K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$6.95M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$6.95M	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`	$733.36K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossBeforeTax1`	$730.05K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-9.05M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-7.60M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-751.57K	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$704.93K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$59.98M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$60.60M	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Net Sales	`Revenues`	-	USD	1 Quarter
Net Sales	`Revenues`	$243.68K	USD	1 Quarter
Cost of Goods Sold	`CostOfRevenue`	$490.83K	USD	1 Quarter
Cost of Goods Sold	`CostOfRevenue`	-	USD	1 Quarter
Gross Profit	`GrossProfit`	$-247.14K	USD	1 Quarter
Gross Profit	`GrossProfit`	-	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$935.82K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$935.67K	USD	1 Quarter
Loss from operations	`IncomeLossFromContinuingOperations`	$-1.18M	USD	1 Quarter
Loss from operations	`IncomeLossFromContinuingOperations`	$-935.82K	USD	1 Quarter
Interest income	`InterestIncomeExpenseNet`	$-358.00	USD	1 Quarter
Interest income	`InterestIncomeExpenseNet`	$-292.00	USD	1 Quarter
Other expenses	`OtherExpenses`	$-1.63K	USD	1 Quarter
Other expenses	`OtherExpenses`	$-1.41K	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	-	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$-276.15K	USD	1 Quarter
Financial expense	`FinancialExpense`	$-213.00	USD	1 Quarter
Financial expense	`FinancialExpense`	$-493.00	USD	1 Quarter
Total non-operating expenses, net	`OperatingExpenses`	$-1.49K	USD	1 Quarter
Total non-operating expenses, net	`OperatingExpenses`	$-277.76K	USD	1 Quarter
Loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-937.30K	USD	1 Quarter
Loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-1.46M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-7.39K	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-102.13K	USD	1 Quarter
Net loss	`ProfitLoss`	$-1.45M	USD	1 Quarter
Net loss	`ProfitLoss`	$-835.18K	USD	1 Quarter
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToNoncontrollingInterest`	$-3.31K	USD	1 Quarter
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToNoncontrollingInterest`	$70.52K	USD	1 Quarter
Net comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-1.46M	USD	1 Quarter
Net comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-764.66K	USD	1 Quarter
Basic weighted average shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	55.99M	shares	1 Quarter
Basic weighted average shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	63.76M	shares	1 Quarter
Basic net loss per share	`EarningsPerShareBasic`	$-0.02	USD	1 Quarter
Basic net loss per share	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
Diluted weighted average shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	63.76M	shares	1 Quarter
Diluted weighted average shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	57.82M	shares	1 Quarter
Diluted net loss per share *	`EarningsPerShareDiluted`	$-0.01	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`	$-1.45M	USD	1 Quarter
Net loss	`ProfitLoss`	$-835.18K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$630.22K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$803.96K	USD	1 Quarter
Changes in deferred taxes	`ChangeInDeferredTax`	$-7.39K	USD	1 Quarter
Changes in deferred taxes	`ChangeInDeferredTax`	$-102.13K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-83.26K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$213.02K	USD	1 Quarter
Other receivables	`IncreaseDecreaseInOtherReceivables`	$110.39K	USD	1 Quarter
Other receivables	`IncreaseDecreaseInOtherReceivables`	$289.40K	USD	1 Quarter
Advance to suppliers	`IncreaseDecreaseAdvanceToSuppliers`	-	USD	1 Quarter
Advance to suppliers	`IncreaseDecreaseAdvanceToSuppliers`	$116.40K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.63K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$64.92K	USD	1 Quarter
Accrued liabilities and other payables	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$-303.67K	USD	1 Quarter
Accrued liabilities and other payables	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$407.68K	USD	1 Quarter
Taxes payable	`IncreaseDecreaseInIncomeTaxes`	$16.14K	USD	1 Quarter
Taxes payable	`IncreaseDecreaseInIncomeTaxes`	$-49.31K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-556.97K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-918.55K	USD	1 Quarter
Construction in progress	`ConstructionInProgressExpendituresIncurredButNotYetPaid`	$124.02K	USD	1 Quarter
Construction in progress	`ConstructionInProgressExpendituresIncurredButNotYetPaid`	$1.21M	USD	1 Quarter
Acquisition of China Huaxin, net of cash acquired	`AcquisitionOfChinaHuaxinNetOfCashAcquired`	$1.50M	USD	1 Quarter
Acquisition of China Huaxin, net of cash acquired	`AcquisitionOfChinaHuaxinNetOfCashAcquired`	-	USD	1 Quarter
Acquisition of fixed assets	`AcquisitionOfPropertyPlantEquipment`	$164.67K	USD	1 Quarter
Acquisition of fixed assets	`AcquisitionOfPropertyPlantEquipment`	-	USD	1 Quarter
Advance to suppliers for construction and equipment	`AdvanceToSuppliersForConstruction`	$-86.38K	USD	1 Quarter
Advance to suppliers for construction and equipment	`AdvanceToSuppliersForConstruction`	$-48.36K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.83M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-37.64K	USD	1 Quarter
Advance from related parties	`ProceedsFromRelatedPartyDebt`	$2.61M	USD	1 Quarter
Advance from related parties	`ProceedsFromRelatedPartyDebt`	$664.71K	USD	1 Quarter
Proceeds from convertible debts	`ProceedsFromConvertibleDebt`	$1.64M	USD	1 Quarter
Proceeds from convertible debts	`ProceedsFromConvertibleDebt`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$4.25M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$664.71K	USD	1 Quarter
EFFECT OF EXCHANGE RATE CHANGE ON CASH & EQUIVALENTS	`EffectOfExchangeRateOnCashContinuingOperations`	$-2.38K	USD	1 Quarter
EFFECT OF EXCHANGE RATE CHANGE ON CASH & EQUIVALENTS	`EffectOfExchangeRateOnCashContinuingOperations`	$-1.05K	USD	1 Quarter
NET INCREASE IN CASH & EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$69.05K	USD	1 Quarter
NET INCREASE IN CASH & EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$499.06K	USD	1 Quarter
CASH & EQUIVALENTS, BEGINNING OF PERIOD	`Cash`	$338.30K	USD	Point-in-time
CASH & EQUIVALENTS, BEGINNING OF PERIOD	`Cash`	$526.37K	USD	Point-in-time
CASH & EQUIVALENTS, BEGINNING OF PERIOD	`Cash`	$269.25K	USD	Point-in-time
CASH & EQUIVALENTS, BEGINNING OF PERIOD	`Cash`	$27.31K	USD	Point-in-time
CASH & EQUIVALENTS, END OF PERIOD	`Cash`	$338.30K	USD	Point-in-time
CASH & EQUIVALENTS, END OF PERIOD	`Cash`	$526.37K	USD	Point-in-time
CASH & EQUIVALENTS, END OF PERIOD	`Cash`	$269.25K	USD	Point-in-time
CASH & EQUIVALENTS, END OF PERIOD	`Cash`	$27.31K	USD	Point-in-time
Income tax paid	`IncomeTaxesPaid`	-	USD	1 Quarter
Income tax paid	`IncomeTaxesPaid`	-	USD	1 Quarter
Interest paid	`InterestPaid`	-	USD	1 Quarter
Interest paid	`InterestPaid`	-	USD	1 Quarter
Conversion of convertible debts into common stock	`ConversionOfConvertibleDebtsIntoCommonStock`	-	USD	1 Quarter
Conversion of convertible debts into common stock	`ConversionOfConvertibleDebtsIntoCommonStock`	$-1.64M	USD	1 Quarter

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