10-K Filing

ADAMANT DRI PROCESSING & MINERALS GROUP CIK: 1171008 FY 2015

Filing Information

Form Type	10-K
Accession Number	`0001193805-16-003065`
Period End Date	20151231
Filing Date	20160414
Fiscal Year	2015
Fiscal Period	FY
XBRL Instance	uhfi-20151231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 81 Income Statement 44 Cash Flow Statement 58 Stockholders Equity 14

Balance Sheet 81 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
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`	$26.96K	USD	Point-in-time
Cash & equivalents	`CashAndCashEquivalentsAtCarryingValue`	$269.25K	USD	Point-in-time
Advance to suppliers	`AdvanceToSuppliers`	$67.19K	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
Advance to suppliers	`AdvanceToSuppliers`	$886.54K	USD	Point-in-time
Value-added tax receivable	`ValueAddedTaxReceivable`	$3.13M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	63.76M	shares	Point-in-time
Value-added tax receivable	`ValueAddedTaxReceivable`	$2.90M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	63.76M	shares	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$1.12M	USD	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	-	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventory, net	`InventoryGross`	$2.25M	USD	Point-in-time
Inventory, net	`InventoryGross`	$1.46M	USD	Point-in-time
Preferred stock, authorized shares	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred stock, authorized shares	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$7.66M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$4.45M	USD	Point-in-time
Preferred stock, issued shares	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, issued shares	`PreferredStockSharesIssued`	0.00	shares	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
Advance to suppliers for construction and equipment	`AdvanceToSuppliersForConstructionAndEquipment`	$-37.27K	USD	Point-in-time
Advance to suppliers for construction and equipment	`AdvanceToSuppliersForConstructionAndEquipment`	$-155.74K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$26.99M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$32.46M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$3.64M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$3.32M	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$10.14M	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$8.07M	USD	Point-in-time
Goodwill	`Goodwill`	$6.54M	USD	Point-in-time
Goodwill	`Goodwill`	$6.16M	USD	Point-in-time
Total noncurrent assets	`AssetsNoncurrent`	$52.94M	USD	Point-in-time
Total noncurrent assets	`AssetsNoncurrent`	$44.58M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$49.03M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$60.60M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$5.09M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.74M	USD	Point-in-time
Accrued liabilities and other payables	`AccountsPayableAndOtherAccruedLiabilities`	$11.59M	USD	Point-in-time
Accrued liabilities and other payables	`AccountsPayableAndOtherAccruedLiabilities`	$10.93M	USD	Point-in-time
Income tax payable	`TaxesPayableCurrent`	$127.31K	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`	$200.20K	USD	Point-in-time
Payable to contractors	`PayableToContractors`	$898.84K	USD	Point-in-time
Payable to contractors	`PayableToContractors`	$846.99K	USD	Point-in-time
Advance from related parties	`AdvanceFromRelatedParty`	$39.95M	USD	Point-in-time
Advance from related parties	`AdvanceFromRelatedParty`	$44.24M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$57.14M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$59.81M	USD	Point-in-time
Deferred tax liability, net	`DeferredTaxAssetsLiabilitiesNet`	$-34.90K	USD	Point-in-time
Deferred tax liability, net	`DeferredTaxAssetsLiabilitiesNet`	$-66.49K	USD	Point-in-time
Accrued expense	`AccruedExpense`	$-13.38K	USD	Point-in-time
Accrued expense	`AccruedExpense`	$-12.61K	USD	Point-in-time
Total noncurrent liabilities	`LiabilitiesNoncurrent`	$79.87K	USD	Point-in-time
Total noncurrent liabilities	`LiabilitiesNoncurrent`	$47.50K	USD	Point-in-time
Total liabilities	`Liabilities`	$59.89M	USD	Point-in-time
Total liabilities	`Liabilities`	$57.19M	USD	Point-in-time
Convertible preferred stock: $0.001 par value; 1,000,000 shares authorized, no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Convertible preferred stock: $0.001 par value; 1,000,000 shares authorized, no shares 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	`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	`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`	$1.04M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-16.76M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-7.60M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$6.70M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$704.93K	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-8.15M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$49.03M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$60.60M	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Net Sales	`SalesRevenueNet`	$720.44K	USD	Annual
Net Sales	`SalesRevenueNet`	-	USD	Annual
Cost of Goods Sold	`CostOfGoodsSold`	-	USD	Annual
Cost of Goods Sold	`CostOfGoodsSold`	$1.21M	USD	Annual
Gross Loss	`GrossProfit`	-	USD	Annual
Gross Loss	`GrossProfit`	$-486.59K	USD	Annual
Trial production related expenses	`OperatingCostsAndExpenses`	$1.80M	USD	Annual
Trial production related expenses	`OperatingCostsAndExpenses`	-	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$6.62M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$3.73M	USD	Annual
Impairment provision for fixed assets	`AssetImpairmentCharges`	$1.19M	USD	Annual
Impairment provision for fixed assets	`AssetImpairmentCharges`	-	USD	Annual
Loss from operations	`IncomeLossFromContinuingOperations`	$-7.21M	USD	Annual
Loss from operations	`IncomeLossFromContinuingOperations`	$-6.62M	USD	Annual
Interest income	`InterestIncomeExpenseNet`	$-501.00	USD	Annual
Interest income	`InterestIncomeExpenseNet`	$-546.00	USD	Annual
Other expense	`OtherExpenses`	$-11.11K	USD	Annual
Other expense	`OtherExpenses`	$-20.66K	USD	Annual
Loss on disposal of fixed assets	`GainLossOnDispositionOfAssets`	-	USD	Annual
Loss on disposal of fixed assets	`GainLossOnDispositionOfAssets`	$835.93K	USD	Annual
Interest expense	`InterestExpenseDebt`	$-1.12M	USD	Annual
Interest expense	`InterestExpenseDebt`	$-1.04M	USD	Annual
Bank expense	`FinancialExpense`	$-1.12K	USD	Annual
Bank expense	`FinancialExpense`	$-1.34K	USD	Annual
Total non-operating expenses, net	`OperatingExpenses`	$-1.05M	USD	Annual
Total non-operating expenses, net	`OperatingExpenses`	$-1.98M	USD	Annual
Loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-9.19M	USD	Annual
Loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-7.67M	USD	Annual
Income tax benefit	`IncomeTaxExpenseBenefit`	$-28.94K	USD	Annual
Income tax benefit	`IncomeTaxExpenseBenefit`	$-27.93K	USD	Annual
Net loss	`ProfitLoss`	$-9.16M	USD	Annual
Net loss	`ProfitLoss`	$-7.64M	USD	Annual
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToNoncontrollingInterest`	$305.05K	USD	Annual
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToNoncontrollingInterest`	$-61.31K	USD	Annual
Net comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-7.70M	USD	Annual
Net comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-8.86M	USD	Annual
Basic weighted average shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	61.22M	shares	Annual
Basic weighted average shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	63.76M	shares	Annual
Basic net loss per share	`EarningsPerShareBasic`	$-0.14	USD	Annual
Basic net loss per share	`EarningsPerShareBasic`	$-0.12	USD	Annual
Diluted weighted average shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	63.76M	shares	Annual
Diluted weighted average shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	61.22M	shares	Annual
Diluted net loss per share	`EarningsPerShareDiluted`	$-0.12	USD	Annual
Diluted net loss per share	`EarningsPerShareDiluted`	$-0.14	USD	Annual

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-9.16M	USD	Annual
Net loss	`ProfitLoss`	$-7.64M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$3.18M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$3.12M	USD	Annual
Loss on asset disposal	`GainLossOnDispositionOfAssets1`	$-835.93K	USD	Annual
Loss on asset disposal	`GainLossOnDispositionOfAssets1`	$-6.22K	USD	Annual
Inventory impairment provision	`InventoryWriteDown`	$837.08K	USD	Annual
Inventory impairment provision	`InventoryWriteDown`	$271.19K	USD	Annual
Fixed assets impairment provision	`AssetImpairmentCharges`	$1.19M	USD	Annual
Fixed assets impairment provision	`AssetImpairmentCharges`	-	USD	Annual
Changes in deferred taxes	`ChangeInDeferredTax`	$-27.93K	USD	Annual
Changes in deferred taxes	`ChangeInDeferredTax`	$-28.94K	USD	Annual
Advance to suppliers	`IncreaseDecreaseAdvanceToSuppliers`	$-800.92K	USD	Annual
Advance to suppliers	`IncreaseDecreaseAdvanceToSuppliers`	$882.55K	USD	Annual
Other receivable	`IncreaseDecreaseInOtherReceivables`	$1.11M	USD	Annual
Other receivable	`IncreaseDecreaseInOtherReceivables`	$-1.11M	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$-415.69K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$-188.67K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$94.18K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.62M	USD	Annual
Accrued liabilities and other payables	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$-168.86K	USD	Annual
Accrued liabilities and other payables	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$-7.07M	USD	Annual
Taxes payable	`IncreaseDecreaseInIncomeTaxes`	$55.80K	USD	Annual
Taxes payable	`IncreaseDecreaseInIncomeTaxes`	$-1.09M	USD	Annual
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.11M	USD	Annual
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-13.57M	USD	Annual
Acquisition of property, plant & equipment	`AcquisitionOfPropertyPlantEquipment`	$348.30K	USD	Annual
Acquisition of property, plant & equipment	`AcquisitionOfPropertyPlantEquipment`	$1.10M	USD	Annual
Proceeds from disposal of fixed assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$1.11M	USD	Annual
Proceeds from disposal of fixed assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$887.23K	USD	Annual
Construction in progress	`ConstructionInProgressExpendituresIncurredButNotYetPaid`	$1.32M	USD	Annual
Construction in progress	`ConstructionInProgressExpendituresIncurredButNotYetPaid`	-	USD	Annual
Acquisition of China Huaxin, net of cash acquired	`AcquisitionOfChinaHuaxinNetOfCashAcquired`	$1.50M	USD	Annual
Acquisition of China Huaxin, net of cash acquired	`AcquisitionOfChinaHuaxinNetOfCashAcquired`	-	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$538.93K	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.81M	USD	Annual
Advance from (repayment to) related parties	`ProceedsFromRelatedPartyDebt`	$-1.89M	USD	Annual
Advance from (repayment to) related parties	`ProceedsFromRelatedPartyDebt`	$14.98M	USD	Annual
Proceeds from convertible debts	`ProceedsFromConvertibleDebt`	-	USD	Annual
Proceeds from convertible debts	`ProceedsFromConvertibleDebt`	$1.64M	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.89M	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$16.62M	USD	Annual
EFFECT OF EXCHANGE RATE CHANGE ON CASH & EQUIVALENTS	`EffectOfExchangeRateOnCashContinuingOperations`	$-5.73K	USD	Annual
EFFECT OF EXCHANGE RATE CHANGE ON CASH & EQUIVALENTS	`EffectOfExchangeRateOnCashContinuingOperations`	$-372.00	USD	Annual
NET INCREASE (DECREASE) IN CASH & EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$241.94K	USD	Annual
NET INCREASE (DECREASE) IN CASH & EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-242.29K	USD	Annual
CASH & EQUIVALENTS, BEGINNING OF YEAR	`Cash`	$269.25K	USD	Point-in-time
CASH & EQUIVALENTS, BEGINNING OF YEAR	`Cash`	$26.96K	USD	Point-in-time
CASH & EQUIVALENTS, BEGINNING OF YEAR	`Cash`	$27.31K	USD	Point-in-time
CASH & EQUIVALENTS, END OF YEAR	`Cash`	$269.25K	USD	Point-in-time
CASH & EQUIVALENTS, END OF YEAR	`Cash`	$26.96K	USD	Point-in-time
CASH & EQUIVALENTS, END OF YEAR	`Cash`	$27.31K	USD	Point-in-time
Income tax paid	`IncomeTaxesPaid`	-	USD	Annual
Income tax paid	`IncomeTaxesPaid`	-	USD	Annual
Interest paid	`InterestPaid`	-	USD	Annual
Interest paid	`InterestPaid`	$16.94K	USD	Annual
Conversion of convertible debts into common stock	`ConversionOfConvertibleDebtsIntoCommonStock`	-	USD	Annual
Conversion of convertible debts into common stock	`ConversionOfConvertibleDebtsIntoCommonStock`	$1.64M	USD	Annual

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance, Amount	`StockholdersEquity`	$6.70M	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$704.93K	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$-8.15M	USD	Point-in-time
Outstanding common stock of registrant at date of reverse merger, Amount	`OutstandingCommonStockOfRegistrantAtDateOfReverseMergerAmount`	-	USD	Annual
Conversion of preferred shares, Amount	`ConversionOfPreferredSharesAmount`	-	USD	Annual
Shares issued for acquisition of Huaxin, Amount	`StockIssuedDuringPeriodValueAcquisitions`	$71.40K	USD	Annual
Shares issued for conversion of convertible debts, Amount	`SharesIssuedForConversionOfConvertibleDebtsAmount`	$1.64M	USD	Annual
Net Loss	`NetIncomeLoss`	$-7.64M	USD	Annual
Net Loss	`NetIncomeLoss`	$-9.16M	USD	Annual
Foreign currency translation gain	`OtherComprehensiveIncomeLossNetOfTax`	$-61.31K	USD	Annual
Foreign currency translation gain	`OtherComprehensiveIncomeLossNetOfTax`	$305.05K	USD	Annual
Ending Balance, Amount	`StockholdersEquity`	$6.70M	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$704.93K	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$-8.15M	USD	Point-in-time

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