10-Q Filing

ADAMANT DRI PROCESSING & MINERALS GROUP CIK: 1171008 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001193805-16-003266`
Period End Date	20160331
Filing Date	20160518
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	uhfi-20160331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 78 Income Statement 34 Cash Flow Statement 46

Balance Sheet 78 line items

Line Item	Tag	Value	Unit	Period
Convertible Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Convertible Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Convertible Preferred stock, authorized shares	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Convertible Preferred stock, authorized shares	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Cash & equivalents	`CashAndCashEquivalentsAtCarryingValue`	$90.54K	USD	Point-in-time
Cash & equivalents	`CashAndCashEquivalentsAtCarryingValue`	$26.96K	USD	Point-in-time
Convertible Preferred stock, issued shares	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Convertible Preferred stock, issued shares	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Advance to suppliers	`AdvanceToSuppliers`	$67.19K	USD	Point-in-time
Advance to suppliers	`AdvanceToSuppliers`	$52.01K	USD	Point-in-time
Value-added tax receivable	`ValueAddedTaxReceivable`	$2.91M	USD	Point-in-time
Convertible Preferred stock, outstanding shares	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Convertible Preferred stock, outstanding shares	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Value-added tax receivable	`ValueAddedTaxReceivable`	$2.90M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventory, net	`InventoryGross`	$1.46M	USD	Point-in-time
Inventory, net	`InventoryGross`	$1.47M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$4.52M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$4.45M	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
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 for construction and equipment	`AdvanceToSuppliersForConstructionAndEquipment`	$-23.21K	USD	Point-in-time
Advance to suppliers for construction and equipment	`AdvanceToSuppliersForConstructionAndEquipment`	$-37.27K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$26.64M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$26.99M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$3.31M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$3.32M	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$8.07M	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$8.12M	USD	Point-in-time
Goodwill	`Goodwill`	$6.16M	USD	Point-in-time
Goodwill	`Goodwill`	$6.19M	USD	Point-in-time
Total noncurrent assets	`AssetsNoncurrent`	$44.58M	USD	Point-in-time
Total noncurrent assets	`AssetsNoncurrent`	$44.28M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$48.80M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$49.03M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$5.09M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$5.29M	USD	Point-in-time
Accrued liabilities and other payables	`AccountsPayableAndOtherAccruedLiabilities`	$10.93M	USD	Point-in-time
Accrued liabilities and other payables	`AccountsPayableAndOtherAccruedLiabilities`	$11.44M	USD	Point-in-time
Income tax payable	`TaxesPayableCurrent`	$127.95K	USD	Point-in-time
Income tax payable	`TaxesPayableCurrent`	$127.31K	USD	Point-in-time
Short term loan	`ShortTermBorrowings`	$201.20K	USD	Point-in-time
Short term loan	`ShortTermBorrowings`	$200.20K	USD	Point-in-time
Payable to contractors	`PayableToContractors`	$846.99K	USD	Point-in-time
Payable to contractors	`PayableToContractors`	$851.24K	USD	Point-in-time
Advance from related parties	`DueToRelatedPartiesCurrent`	$39.95M	USD	Point-in-time
Advance from related parties	`DueToRelatedPartiesCurrent`	$40.32M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$58.23M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$57.14M	USD	Point-in-time
Deferred tax liability	`DeferredIncomeTaxLiabilities`	$34.90K	USD	Point-in-time
Deferred tax liability	`DeferredIncomeTaxLiabilities`	$26.77K	USD	Point-in-time
Accrued expense	`OtherAccruedLiabilitiesNoncurrent`	$12.61K	USD	Point-in-time
Accrued expense	`OtherAccruedLiabilitiesNoncurrent`	$12.67K	USD	Point-in-time
Total noncurrent liabilities	`LiabilitiesNoncurrent`	$47.50K	USD	Point-in-time
Total noncurrent liabilities	`LiabilitiesNoncurrent`	$39.44K	USD	Point-in-time
Total liabilities	`Liabilities`	$57.19M	USD	Point-in-time
Total liabilities	`Liabilities`	$58.27M	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`	$1.04M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossBeforeTax1`	$987.12K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-18.03M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-16.76M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-8.15M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-9.47M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$49.03M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$48.80M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Net Sales	`Revenues`	$243.68K	USD	1 Quarter
Net Sales	`Revenues`	-	USD	1 Quarter
Cost of Goods Sold	`CostOfRevenue`	$490.83K	USD	1 Quarter
Cost of Goods Sold	`CostOfRevenue`	-	USD	1 Quarter
Gross Loss	`GrossProfit`	-	USD	1 Quarter
Gross Loss	`GrossProfit`	$-247.14K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$935.67K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.01M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.18M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.01M	USD	1 Quarter
Interest income	`InterestIncomeExpenseNet`	$292.00	USD	1 Quarter
Interest income	`InterestIncomeExpenseNet`	$25.00	USD	1 Quarter
Other expenses	`OtherExpenses`	$1.41K	USD	1 Quarter
Other expenses	`OtherExpenses`	-	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$267.50K	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$276.15K	USD	1 Quarter
Bank charges	`FinancialExpense`	$392.00	USD	1 Quarter
Bank charges	`FinancialExpense`	$493.00	USD	1 Quarter
Total non-operating expenses, net	`OperatingExpenses`	$277.76K	USD	1 Quarter
Total non-operating expenses, net	`OperatingExpenses`	$267.87K	USD	1 Quarter
Loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-1.46M	USD	1 Quarter
Loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-1.28M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-7.39K	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-8.21K	USD	1 Quarter
Net loss	`ProfitLoss`	$-1.45M	USD	1 Quarter
Net loss	`ProfitLoss`	$-1.27M	USD	1 Quarter
Foreign currency translation loss	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToNoncontrollingInterest`	$-3.31K	USD	1 Quarter
Foreign currency translation loss	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToNoncontrollingInterest`	$-51.29K	USD	1 Quarter
Net comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-1.46M	USD	1 Quarter
Net comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-1.32M	USD	1 Quarter
Basic and diluted weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	63.76M	shares	1 Quarter
Basic and diluted weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	63.76M	shares	1 Quarter
Basic and diluted net loss per share	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter
Basic and diluted net loss per share	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter

Cash Flow Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-1.45M	USD	1 Quarter
Net loss	`ProfitLoss`	$-1.27M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$718.07K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$803.96K	USD	1 Quarter
Changes in deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$-8.21K	USD	1 Quarter
Changes in deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$-7.39K	USD	1 Quarter
Advance to suppliers	`IncreaseDecreaseAdvanceToSuppliers`	$77.01K	USD	1 Quarter
Advance to suppliers	`IncreaseDecreaseAdvanceToSuppliers`	$116.40K	USD	1 Quarter
Other receivables	`IncreaseDecreaseInOtherReceivables`	$-947.00	USD	1 Quarter
Other receivables	`IncreaseDecreaseInOtherReceivables`	$289.40K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-83.26K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	-	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.63K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$50.32K	USD	1 Quarter
Accrued liabilities and other payables	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$407.68K	USD	1 Quarter
Accrued liabilities and other payables	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$454.61K	USD	1 Quarter
Taxes payable	`IncreaseDecreaseInIncomeTaxes`	$16.14K	USD	1 Quarter
Taxes payable	`IncreaseDecreaseInIncomeTaxes`	$-782.00	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-129.12K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-556.97K	USD	1 Quarter
Construction in progress	`ConstructionInProgressExpendituresIncurredButNotYetPaid`	-	USD	1 Quarter
Construction in progress	`ConstructionInProgressExpendituresIncurredButNotYetPaid`	$124.02K	USD	1 Quarter
Advance to suppliers for construction and equipment	`AdvanceToSupplierForConstructionAndEquipment`	$14.09K	USD	1 Quarter
Advance to suppliers for construction and equipment	`AdvanceToSupplierForConstructionAndEquipment`	$86.38K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-37.64K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$14.09K	USD	1 Quarter
Advance from related parties	`ProceedsFromRelatedPartyDebt`	$177.83K	USD	1 Quarter
Advance from related parties	`ProceedsFromRelatedPartyDebt`	$664.71K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$664.71K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$177.83K	USD	1 Quarter
EFFECT OF EXCHANGE RATE CHANGE ON CASH & EQUIVALENTS	`EffectOfExchangeRateOnCashContinuingOperations`	$-1.05K	USD	1 Quarter
EFFECT OF EXCHANGE RATE CHANGE ON CASH & EQUIVALENTS	`EffectOfExchangeRateOnCashContinuingOperations`	$785.00	USD	1 Quarter
NET INCREASE IN CASH & EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$63.58K	USD	1 Quarter
NET INCREASE IN CASH & EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$69.05K	USD	1 Quarter
CASH & EQUIVALENTS, BEGINNING OF PERIOD	`Cash`	$90.54K	USD	Point-in-time
CASH & EQUIVALENTS, BEGINNING OF PERIOD	`Cash`	$26.96K	USD	Point-in-time
CASH & EQUIVALENTS, BEGINNING OF PERIOD	`Cash`	$269.25K	USD	Point-in-time
CASH & EQUIVALENTS, BEGINNING OF PERIOD	`Cash`	$338.30K	USD	Point-in-time
CASH & EQUIVALENTS, END OF PERIOD	`Cash`	$90.54K	USD	Point-in-time
CASH & EQUIVALENTS, END OF PERIOD	`Cash`	$26.96K	USD	Point-in-time
CASH & EQUIVALENTS, END OF PERIOD	`Cash`	$269.25K	USD	Point-in-time
CASH & EQUIVALENTS, END OF PERIOD	`Cash`	$338.30K	USD	Point-in-time
Income tax paid	`IncomeTaxesPaid`	-	USD	1 Quarter
Income tax paid	`IncomeTaxesPaid`	-	USD	1 Quarter
Interest paid	`InterestPaid`	$5.36K	USD	1 Quarter
Interest paid	`InterestPaid`	-	USD	1 Quarter

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