10-Q Filing

ADAMANT DRI PROCESSING & MINERALS GROUP CIK: 1171008 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001193805-17-000830`
Period End Date	20170331
Filing Date	20170512
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	uhfi-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 82 Income Statement 36 Cash Flow Statement 52

Balance Sheet 82 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
Cash & equivalents	`CashAndCashEquivalentsAtCarryingValue`	$23.78K	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`	$86.52K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalents`	$8.79K	USD	Point-in-time
Convertible Preferred stock, issued shares	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalents`	$94.32K	USD	Point-in-time
Convertible Preferred stock, issued shares	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid expense	`PrepaidExpenseAndOtherAssets`	-	USD	Point-in-time
Convertible Preferred stock, outstanding shares	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Prepaid expense	`PrepaidExpenseAndOtherAssets`	$853.12K	USD	Point-in-time
Convertible Preferred stock, outstanding shares	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Advance to suppliers	`AdvanceToSuppliers`	$16.35K	USD	Point-in-time
Advance to suppliers	`AdvanceToSuppliers`	$16.97K	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
Value-added tax receivable	`ValueAddedTaxReceivable`	$2.65M	USD	Point-in-time
Value-added tax receivable	`ValueAddedTaxReceivable`	$2.67M	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
Inventory, net	`InventoryGross`	$693.52K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	63.76M	shares	Point-in-time
Inventory, net	`InventoryGross`	$698.20K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	66.76M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	63.76M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$3.54M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$4.27M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	66.76M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$24.03M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$24.58M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$3.01M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$3.01M	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$6.03M	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$6.04M	USD	Point-in-time
Goodwill	`Goodwill`	$5.80M	USD	Point-in-time
Goodwill	`Goodwill`	$5.77M	USD	Point-in-time
Total noncurrent assets	`AssetsNoncurrent`	$39.40M	USD	Point-in-time
Total noncurrent assets	`AssetsNoncurrent`	$38.87M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$43.14M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$42.94M	USD	Point-in-time
Bank overdraft	`BankOverdrafts`	-	USD	Point-in-time
Bank overdraft	`BankOverdrafts`	$94.17K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.86M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.80M	USD	Point-in-time
Accrued liabilities and other payables	`AccountsPayableAndOtherAccruedLiabilities`	$11.54M	USD	Point-in-time
Accrued liabilities and other payables	`AccountsPayableAndOtherAccruedLiabilities`	$11.28M	USD	Point-in-time
Income tax payable	`TaxesPayableCurrent`	$119.82K	USD	Point-in-time
Income tax payable	`TaxesPayableCurrent`	$119.17K	USD	Point-in-time
Short term loan	`ShortTermBorrowings`	$187.40K	USD	Point-in-time
Short term loan	`ShortTermBorrowings`	$188.43K	USD	Point-in-time
Payable to contractors	`PayableToContractors`	$797.18K	USD	Point-in-time
Payable to contractors	`PayableToContractors`	$792.85K	USD	Point-in-time
Advance from related parties	`DueToRelatedPartiesCurrent`	$40.67M	USD	Point-in-time
Advance from related parties	`DueToRelatedPartiesCurrent`	$40.20M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$55.54M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$56.12M	USD	Point-in-time
Deferred tax liability	`DeferredIncomeTaxLiabilities`	-	USD	Point-in-time
Deferred tax liability	`DeferredIncomeTaxLiabilities`	$2.48K	USD	Point-in-time
Accrued expense	`OtherAccruedLiabilitiesNoncurrent`	$11.80K	USD	Point-in-time
Accrued expense	`OtherAccruedLiabilitiesNoncurrent`	$11.86K	USD	Point-in-time
Total noncurrent liabilities	`LiabilitiesNoncurrent`	$11.86K	USD	Point-in-time
Total noncurrent liabilities	`LiabilitiesNoncurrent`	$14.29K	USD	Point-in-time
Total liabilities	`Liabilities`	$55.55M	USD	Point-in-time
Total liabilities	`Liabilities`	$56.13M	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 66,760,110 and 63,760,110 shares as of March 31, 2017 and December 31, 2016	`CommonStockValue`	$66.76K	USD	Point-in-time
Common stock, $0.001 par value; authorized shares 100,000,000; issued and outstanding 66,760,110 and 63,760,110 shares as of March 31, 2017 and December 31, 2016	`CommonStockValue`	$63.76K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$8.00M	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`	$1.68M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossBeforeTax1`	$1.74M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-21.99M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-23.29M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-12.99M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-12.61M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$42.94M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$43.14M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Net Sales	`Revenues`	-	USD	1 Quarter
Net Sales	`Revenues`	-	USD	1 Quarter
Cost of Goods Sold	`CostOfRevenue`	-	USD	1 Quarter
Cost of Goods Sold	`CostOfRevenue`	-	USD	1 Quarter
Gross Loss	`GrossProfit`	-	USD	1 Quarter
Gross Loss	`GrossProfit`	-	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.01M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.01M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.01M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.01M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.01M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.01M	USD	1 Quarter
Interest income	`InterestIncomeExpenseNet`	$25.00	USD	1 Quarter
Interest income	`InterestIncomeExpenseNet`	$49.00	USD	1 Quarter
Other expenses	`OtherExpenses`	-	USD	1 Quarter
Other expenses	`OtherExpenses`	$40.08K	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$250.92K	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$267.50K	USD	1 Quarter
Bank charges	`FinancialExpense`	$392.00	USD	1 Quarter
Bank charges	`FinancialExpense`	$125.00	USD	1 Quarter
Total non-operating expenses, net	`OtherOperatingIncomeExpenseNet`	$-291.08K	USD	1 Quarter
Total non-operating expenses, net	`OtherOperatingIncomeExpenseNet`	$-267.87K	USD	1 Quarter
Loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-1.28M	USD	1 Quarter
Loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-1.30M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-8.21K	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-2.50K	USD	1 Quarter
Net loss	`ProfitLoss`	$-1.27M	USD	1 Quarter
Net loss	`ProfitLoss`	$-1.30M	USD	1 Quarter
Foreign currency translation gain	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToNoncontrollingInterest`	$-63.38K	USD	1 Quarter
Foreign currency translation gain	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToNoncontrollingInterest`	$-51.29K	USD	1 Quarter
Net comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-1.32M	USD	1 Quarter
Net comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-1.36M	USD	1 Quarter
Basic and diluted weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	66.66M	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 52 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-1.27M	USD	1 Quarter
Net loss	`ProfitLoss`	$-1.30M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$704.27K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$718.07K	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	-	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$131.25K	USD	1 Quarter
Changes in deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$-2.50K	USD	1 Quarter
Changes in deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$-8.21K	USD	1 Quarter
Advance to suppliers	`IncreaseDecreaseAdvanceToSuppliers`	$77.01K	USD	1 Quarter
Advance to suppliers	`IncreaseDecreaseAdvanceToSuppliers`	$530.00	USD	1 Quarter
Other receivables	`IncreaseDecreaseInOtherReceivables`	-	USD	1 Quarter
Other receivables	`IncreaseDecreaseInOtherReceivables`	$-947.00	USD	1 Quarter
Restricted cash	`IncreaseDecreaseInRestrictedCash`	$86.23K	USD	1 Quarter
Restricted cash	`IncreaseDecreaseInRestrictedCash`	-	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$889.00	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	-	USD	1 Quarter
Bank overdraft	`IncreaseDecreaseInBookOverdrafts`	$-94.86K	USD	1 Quarter
Bank overdraft	`IncreaseDecreaseInBookOverdrafts`	-	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-71.24K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$50.32K	USD	1 Quarter
Accrued liabilities and other payables	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$454.61K	USD	1 Quarter
Accrued liabilities and other payables	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$235.48K	USD	1 Quarter
Taxes payable	`IncreaseDecreaseInIncomeTaxes`	$-782.00	USD	1 Quarter
Taxes payable	`IncreaseDecreaseInIncomeTaxes`	$-6.72K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-317.66K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-129.12K	USD	1 Quarter
Advance to suppliers for construction and equipment	`ConstructionInProgressExpendituresIncurredButNotYetPaid`	-	USD	1 Quarter
Advance to suppliers for construction and equipment	`ConstructionInProgressExpendituresIncurredButNotYetPaid`	$-14.09K	USD	1 Quarter
Acquisition of fixed assets	`AcquisitionOfFixedAssets`	$1.00K	USD	1 Quarter
Acquisition of fixed assets	`AcquisitionOfFixedAssets`	-	USD	1 Quarter
Net cash provided by (used) in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.00K	USD	1 Quarter
Net cash provided by (used) in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$14.09K	USD	1 Quarter
Advance from related parties	`ProceedsFromRelatedPartyDebt`	$255.35K	USD	1 Quarter
Advance from related parties	`ProceedsFromRelatedPartyDebt`	$177.83K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$177.83K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$255.35K	USD	1 Quarter
EFFECT OF EXCHANGE RATE CHANGE ON CASH & EQUIVALENTS	`EffectOfExchangeRateOnCashContinuingOperations`	$567.00	USD	1 Quarter
EFFECT OF EXCHANGE RATE CHANGE ON CASH & EQUIVALENTS	`EffectOfExchangeRateOnCashContinuingOperations`	$785.00	USD	1 Quarter
NET INCREASE (DECREASE) IN CASH & EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$63.58K	USD	1 Quarter
NET INCREASE (DECREASE) IN CASH & EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-62.74K	USD	1 Quarter
CASH & EQUIVALENTS, BEGINNING OF PERIOD	`Cash`	$23.78K	USD	Point-in-time
CASH & EQUIVALENTS, BEGINNING OF PERIOD	`Cash`	$86.52K	USD	Point-in-time
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, END OF PERIOD	`Cash`	$23.78K	USD	Point-in-time
CASH & EQUIVALENTS, END OF PERIOD	`Cash`	$86.52K	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
Income tax paid	`IncomeTaxesPaid`	-	USD	1 Quarter
Income tax paid	`IncomeTaxesPaid`	-	USD	1 Quarter
Interest paid	`InterestPaid`	$4.70K	USD	1 Quarter
Interest paid	`InterestPaid`	$5.36K	USD	1 Quarter

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