10-K Filing

U.S. CHINA MINING GROUP, INC. CIK: 1145761 FY 2013

Filing Information

Form Type	10-K
Accession Number	`0001214659-14-002788`
Period End Date	20131231
Filing Date	20140414
Fiscal Year	2013
Fiscal Period	FY
XBRL Instance	sgzh-20131231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 92 Income Statement 44 Cash Flow Statement 64 Stockholders Equity 14

Balance Sheet 92 line items

Line Item	Tag	Value	Unit	Period
Asset retirement obligation, deposit for mine restoration	`DepositOnAssetRetirementObligation`	$1.31M	USD	Point-in-time
Asset retirement obligation, deposit for mine restoration	`DepositOnAssetRetirementObligation`	$1.36M	USD	Point-in-time
Series A Preferred Stock, par value per share	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Series A Preferred Stock, par value per share	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash & equivalents	`CashAndCashEquivalentsAtCarryingValue`	$44.54M	USD	Point-in-time
Series A Preferred Stock, shares authorized	`PreferredStockSharesAuthorized`	8.00M	shares	Point-in-time
Cash & equivalents	`CashAndCashEquivalentsAtCarryingValue`	$40.29M	USD	Point-in-time
Cash & equivalents	`CashAndCashEquivalentsAtCarryingValue`	$27.26M	USD	Point-in-time
Series A Preferred Stock, shares authorized	`PreferredStockSharesAuthorized`	8.00M	shares	Point-in-time
Series A Preferred Stock, shares issued	`PreferredStockSharesIssued`	400,000.00	shares	Point-in-time
Series A Preferred Stock, shares issued	`PreferredStockSharesIssued`	400,000.00	shares	Point-in-time
Series A Preferred Stock, shares outstanding	`PreferredStockSharesOutstanding`	400,000.00	shares	Point-in-time
Series A Preferred Stock, shares outstanding	`PreferredStockSharesOutstanding`	400,000.00	shares	Point-in-time
Other receivables and prepaid expenses	`PrepaidExpenseAndOtherAssetsCurrent`	-	USD	Point-in-time
Other receivables and prepaid expenses	`PrepaidExpenseAndOtherAssetsCurrent`	$4.94M	USD	Point-in-time
Taxes receivable	`IncomeTaxReceivable`	$744.15K	USD	Point-in-time
Common stock, par value per share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value per share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Taxes receivable	`IncomeTaxReceivable`	$631.35K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Deposit for coal trading	`DepositsAssetsCurrent`	$1.77M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Deposit for coal trading	`DepositsAssetsCurrent`	$2.09M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	18.85M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	18.85M	shares	Point-in-time
Inventory	`InventoryNet`	$265.67K	USD	Point-in-time
Inventory	`InventoryNet`	$515.37K	USD	Point-in-time
Advance to shareholder	`DueFromRelatedPartiesCurrent`	$282.62K	USD	Point-in-time
Advance to shareholder	`DueFromRelatedPartiesCurrent`	$242.91K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	18.85M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	18.85M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$35.25M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$43.76M	USD	Point-in-time
Deposits for mine acquisition	`DepositsAssetsNoncurrent`	$4.92M	USD	Point-in-time
Deposits for mine acquisition	`DepositsAssetsNoncurrent`	$4.77M	USD	Point-in-time
Coal production safety deposit	`SecurityDeposit`	-	USD	Point-in-time
Coal production safety deposit	`SecurityDeposit`	$4.93M	USD	Point-in-time
Prepaid mining rights, net	`PrepaidMiningRightsNet`	$14.07M	USD	Point-in-time
Prepaid mining rights, net	`PrepaidMiningRightsNet`	$13.68M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$18.43M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$13.42M	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$15.66M	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$19.01M	USD	Point-in-time
Deferred tax asset, net	`DeferredTaxAssetsNetNoncurrent`	$774.67K	USD	Point-in-time
Deferred tax asset, net	`DeferredTaxAssetsNetNoncurrent`	$688.38K	USD	Point-in-time
Asset retirement cost, net	`OtherDeferredCostsNet`	$2.46M	USD	Point-in-time
Asset retirement cost, net	`OtherDeferredCostsNet`	$2.43M	USD	Point-in-time
Total noncurrent assets	`AssetsNoncurrent`	$54.00M	USD	Point-in-time
Total noncurrent assets	`AssetsNoncurrent`	$61.25M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$97.76M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$96.51M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$199.76K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	-	USD	Point-in-time
Advance from customers	`DeferredRevenueCurrent`	$40.37K	USD	Point-in-time
Advance from customers	`DeferredRevenueCurrent`	$82.48K	USD	Point-in-time
Accrued liabilities and other payables	`AccruedLiabilitiesCurrent`	$832.55K	USD	Point-in-time
Accrued liabilities and other payables	`AccruedLiabilitiesCurrent`	$3.17M	USD	Point-in-time
Taxes payable	`TaxesPayableCurrent`	$5.65M	USD	Point-in-time
Taxes payable	`TaxesPayableCurrent`	$3.62M	USD	Point-in-time
Warrant derivative liability	`DerivativeLiabilitiesCurrent`	$103.12K	USD	Point-in-time
Warrant derivative liability	`DerivativeLiabilitiesCurrent`	$750.03K	USD	Point-in-time
Loan payable	`ShortTermBorrowings`	-	USD	Point-in-time
Loan payable	`ShortTermBorrowings`	$4.43M	USD	Point-in-time
Advance from shareholder	`DueToOfficersOrStockholdersCurrent`	-	USD	Point-in-time
Advance from shareholder	`DueToOfficersOrStockholdersCurrent`	$2.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$11.26M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.63M	USD	Point-in-time
Asset retirement obligation, net of deposit for mine restoration of $1,355,763 in 2013 and $1,306,059 in 2012, respectively	`AssetRetirementObligationsNoncurrent`	$4.86M	USD	Point-in-time
Asset retirement obligation, net of deposit for mine restoration of $1,355,763 in 2013 and $1,306,059 in 2012, respectively	`AssetRetirementObligationsNoncurrent`	$5.26M	USD	Point-in-time
Total noncurrent liabilities	`LiabilitiesNoncurrent`	$5.26M	USD	Point-in-time
Total noncurrent liabilities	`LiabilitiesNoncurrent`	$4.86M	USD	Point-in-time
Total liabilities	`Liabilities`	$16.51M	USD	Point-in-time
Total liabilities	`Liabilities`	$12.49M	USD	Point-in-time
CONTINGENCIES AND COMMITMENTS	`CommitmentsAndContingencies`	-	USD	Point-in-time
CONTINGENCIES AND COMMITMENTS	`CommitmentsAndContingencies`	-	USD	Point-in-time
Series A Preferred Stock, $0.001 par value, 8,000,000 shares authorized, 400,000 shares issued and outstanding	`PreferredStockValue`	$400.00	USD	Point-in-time
Series A Preferred Stock, $0.001 par value, 8,000,000 shares authorized, 400,000 shares issued and outstanding	`PreferredStockValue`	$400.00	USD	Point-in-time
Common stock, $0.001 par value, 100,000,000 shares authorized, 18,852,582 shares issued and outstanding in 2013 and 2012	`CommonStockValue`	$18.85K	USD	Point-in-time
Common stock, $0.001 par value, 100,000,000 shares authorized, 18,852,582 shares issued and outstanding in 2013 and 2012	`CommonStockValue`	$18.85K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$41.20M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$41.21M	USD	Point-in-time
Statutory reserves	`RetainedEarningsAppropriated`	$13.48M	USD	Point-in-time
Statutory reserves	`RetainedEarningsAppropriated`	$13.68M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$9.77M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$12.22M	USD	Point-in-time
Retained earnings	`RetainedEarningsUnappropriated`	$20.81M	USD	Point-in-time
Retained earnings	`RetainedEarningsUnappropriated`	$12.86M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$79.99M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$116.23M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$85.28M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$97.76M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$96.51M	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$30.91M	USD	Annual
Net sales	`Revenues`	$3.02M	USD	Annual
Cost of goods sold	`CostOfRevenue`	$2.59M	USD	Annual
Cost of goods sold	`CostOfRevenue`	$23.28M	USD	Annual
Gross profit	`GrossProfit`	$432.15K	USD	Annual
Gross profit	`GrossProfit`	$7.63M	USD	Annual
Selling	`SellingExpense`	$5.74M	USD	Annual
Selling	`SellingExpense`	$1.74M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$6.86M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$7.43M	USD	Annual
Goodwill impairment	`GoodwillImpairmentLoss`	-	USD	Annual
Goodwill impairment	`GoodwillImpairmentLoss`	$26.18M	USD	Annual
Total operating expenses	`OperatingExpenses`	$8.60M	USD	Annual
Total operating expenses	`OperatingExpenses`	$39.35M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-31.72M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-8.17M	USD	Annual
Interest income	`InvestmentIncomeInterest`	$161.81K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$136.41K	USD	Annual
Interest expense	`InterestExpense`	$268.47K	USD	Annual
Interest expense	`InterestExpense`	$403.70K	USD	Annual
Other expenses	`OtherNonoperatingExpense`	$16.62K	USD	Annual
Other expenses	`OtherNonoperatingExpense`	$2.02K	USD	Annual
Warrant derivative income	`UnrealizedGainLossOnDerivatives`	$1.10M	USD	Annual
Warrant derivative income	`UnrealizedGainLossOnDerivatives`	$646.91K	USD	Annual
Total non-operating income, net	`NonoperatingIncomeExpense`	$363.00K	USD	Annual
Total non-operating income, net	`NonoperatingIncomeExpense`	$986.54K	USD	Annual
Loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-30.73M	USD	Annual
Loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-7.80M	USD	Annual
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-63.78K	USD	Annual
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$503.06K	USD	Annual
Net loss	`NetIncomeLoss`	$-31.24M	USD	Annual
Net loss	`NetIncomeLoss`	$-7.74M	USD	Annual
Foreign currency translation gain	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$2.44M	USD	Annual
Foreign currency translation gain	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$195.90K	USD	Annual
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-31.04M	USD	Annual
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-5.30M	USD	Annual
Basic weighted average shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	18.85M	shares	Annual
Basic weighted average shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	18.85M	shares	Annual
Diluted weighted average shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	18.85M	shares	Annual
Diluted weighted average shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	18.85M	shares	Annual
Basic net loss per share	`EarningsPerShareBasic`	$-1.66	USD	Annual
Basic net loss per share	`EarningsPerShareBasic`	$-0.41	USD	Annual
Diluted net loss per share	`EarningsPerShareDiluted`	$-0.41	USD	Annual
Diluted net loss per share	`EarningsPerShareDiluted`	$-1.66	USD	Annual

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-31.24M	USD	Annual
Net loss	`NetIncomeLoss`	$-7.74M	USD	Annual
Goodwill impairment	`GoodwillImpairmentLoss`	-	USD	Annual
Goodwill impairment	`GoodwillImpairmentLoss`	$26.18M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.66M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.84M	USD	Annual
Loss on disposal fixed asset	`GainLossOnSaleOfPropertyPlantEquipment`	$-2.31K	USD	Annual
Loss on disposal fixed asset	`GainLossOnSaleOfPropertyPlantEquipment`	$-9.94K	USD	Annual
Changes in fair value of warrant derivative	`UnrealizedGainLossOnDerivatives`	$1.10M	USD	Annual
Changes in fair value of warrant derivative	`UnrealizedGainLossOnDerivatives`	$646.91K	USD	Annual
Accretion of interest on asset retirement obligation	`AssetRetirementObligationAccretionExpense`	$238.10K	USD	Annual
Accretion of interest on asset retirement obligation	`AssetRetirementObligationAccretionExpense`	$251.63K	USD	Annual
Stock option compensation	`StockOptionPlanExpense`	$10.89K	USD	Annual
Stock option compensation	`StockOptionPlanExpense`	$84.02K	USD	Annual
Changes in deferred tax	`DeferredIncomeTaxExpenseBenefit`	$-63.78K	USD	Annual
Changes in deferred tax	`DeferredIncomeTaxExpenseBenefit`	$-292.51K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.30M	USD	Annual
Other receivables, deposits and prepaid expenses	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$4.28M	USD	Annual
Other receivables, deposits and prepaid expenses	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-856.54K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$-401.02K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$-260.63K	USD	Annual
Deposit for mine restoration	`IncreaseDecreaseInDepositOtherAssets`	$16.09K	USD	Annual
Deposit for mine restoration	`IncreaseDecreaseInDepositOtherAssets`	$79.21K	USD	Annual
Coal production safety deposit	`IncreaseDecreaseInOtherNoncurrentAssets`	-	USD	Annual
Coal production safety deposit	`IncreaseDecreaseInOtherNoncurrentAssets`	$4.83M	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	-	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$199.76K	USD	Annual
Advance from customers	`IncreaseDecreaseInDeferredRevenue`	$-43.82K	USD	Annual
Advance from customers	`IncreaseDecreaseInDeferredRevenue`	$-444.15K	USD	Annual
Accrued liabilities and other payables	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-2.20M	USD	Annual
Accrued liabilities and other payables	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-256.13K	USD	Annual
Taxes payable	`IncreaseDecreaseInAccruedTaxesPayable`	$1.62M	USD	Annual
Taxes payable	`IncreaseDecreaseInAccruedTaxesPayable`	$1.79M	USD	Annual
Net cash used in (provided by) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-15.64M	USD	Annual
Net cash used in (provided by) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$1.12M	USD	Annual
Change in restricted cash	`IncreaseDecreaseInRestrictedCash`	-	USD	Annual
Change in restricted cash	`IncreaseDecreaseInRestrictedCash`	$-3.00M	USD	Annual
Acquisition of property, plant & equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.01M	USD	Annual
Acquisition of property, plant & equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.44M	USD	Annual
Construction in progress	`PaymentsForConstructionInProcess`	$3.22M	USD	Annual
Construction in progress	`PaymentsForConstructionInProcess`	-	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-2.44M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-2.22M	USD	Annual
Bank loan proceeds (repayment)	`ProceedsFromRepaymentsOfNotesPayable`	$-3.00M	USD	Annual
Bank loan proceeds (repayment)	`ProceedsFromRepaymentsOfNotesPayable`	$4.34M	USD	Annual
Due from shareholder	`RepaymentsOfRelatedPartyDebt`	$282.62K	USD	Annual
Due from shareholder	`RepaymentsOfRelatedPartyDebt`	$242.91K	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$4.06M	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-3.24M	USD	Annual
EFFECT OF EXCHANGE RATE CHANGE ON CASH & EQUIVALENTS	`EffectOfExchangeRateOnCashAndCashEquivalents`	$90.45K	USD	Annual
EFFECT OF EXCHANGE RATE CHANGE ON CASH & EQUIVALENTS	`EffectOfExchangeRateOnCashAndCashEquivalents`	$975.13K	USD	Annual
NET DECREASE IN CASH & EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-4.25M	USD	Annual
NET DECREASE IN CASH & EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-13.03M	USD	Annual
CASH & CASH EQUIVALENTS, BEGINNING OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$44.54M	USD	Point-in-time
CASH & CASH EQUIVALENTS, BEGINNING OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$40.29M	USD	Point-in-time
CASH & CASH EQUIVALENTS, BEGINNING OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$27.26M	USD	Point-in-time
CASH & EQUIVALENTS, END OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$44.54M	USD	Point-in-time
CASH & EQUIVALENTS, END OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$40.29M	USD	Point-in-time
CASH & EQUIVALENTS, END OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$27.26M	USD	Point-in-time
Income tax paid	`IncomeTaxesPaid`	$3.83M	USD	Annual
Income tax paid	`IncomeTaxesPaid`	-	USD	Annual
Interest paid	`InterestPaid`	$152.07K	USD	Annual
Interest paid	`InterestPaid`	$30.38K	USD	Annual

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$79.99M	USD	Point-in-time
Balance	`StockholdersEquity`	$116.23M	USD	Point-in-time
Balance	`StockholdersEquity`	$85.28M	USD	Point-in-time
Net income (loss) for the year	`NetIncomeLoss`	$-31.24M	USD	Annual
Net income (loss) for the year	`NetIncomeLoss`	$-7.74M	USD	Annual
Stock options compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$10.89K	USD	Annual
Stock options compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$84.02K	USD	Annual
Transfer to statutory reserves	`StockholdersEquityOther`	-	USD	Annual
Transfer to statutory reserves	`StockholdersEquityOther`	-	USD	Annual
Foreign currency translation gain	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$2.44M	USD	Annual
Foreign currency translation gain	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$195.90K	USD	Annual
Balance	`StockholdersEquity`	$79.99M	USD	Point-in-time
Balance	`StockholdersEquity`	$116.23M	USD	Point-in-time
Balance	`StockholdersEquity`	$85.28M	USD	Point-in-time

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