10-Q Filing

ADAMANT DRI PROCESSING & MINERALS GROUP CIK: 1171008 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001493152-18-009148`
Period End Date	20180331
Filing Date	20180625
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	admg-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 99 Income Statement 36 Cash Flow Statement 46

Balance Sheet 99 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, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Convertible preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Cash & equivalents	`CashAndCashEquivalentsAtCarryingValue`	$180.84K	USD	Point-in-time
Convertible preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Cash & equivalents	`CashAndCashEquivalentsAtCarryingValue`	$23.39K	USD	Point-in-time
Cash & equivalents	`CashAndCashEquivalentsAtCarryingValue`	$32.57K	USD	Point-in-time
Convertible preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Cash & equivalents	`CashAndCashEquivalentsAtCarryingValue`	$24.79K	USD	Point-in-time
Convertible preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalents`	$11.47K	USD	Point-in-time
Convertible preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalents`	$9.38K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expense	`PrepaidExpenseAndOtherAssets`	$328.12K	USD	Point-in-time
Prepaid expense	`PrepaidExpenseAndOtherAssets`	$459.38K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	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
Advance to suppliers, net	`AdvanceToSuppliers`	$1.72K	USD	Point-in-time
Advance to suppliers, net	`AdvanceToSuppliers`	$680.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	3.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	66.76M	shares	Point-in-time
Value-added tax receivable	`ValueAddedTaxReceivable`	$2.82M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	66.76M	shares	Point-in-time
Value-added tax receivable	`ValueAddedTaxReceivable`	$2.93M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	66.76M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	66.76M	shares	Point-in-time
Inventory, net	`InventoryNet`	$476.35K	USD	Point-in-time
Inventory, net	`InventoryNet`	$458.40K	USD	Point-in-time
Assets held for exchange	`AssetsHeldForSaleNotPartOfDisposalGroupCurrent`	$4.01M	USD	Point-in-time
Assets held for exchange	`AssetsHeldForSaleNotPartOfDisposalGroupCurrent`	$4.17M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$7.79M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$7.94M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$23.27M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$23.11M	USD	Point-in-time
Material for construction use	`MaterialForConstructionUse`	$455.67K	USD	Point-in-time
Material for construction use	`MaterialForConstructionUse`	$438.50K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$3.10M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$3.19M	USD	Point-in-time
Goodwill	`Goodwill`	$6.36M	USD	Point-in-time
Goodwill	`Goodwill`	$6.12M	USD	Point-in-time
Total noncurrent assets	`AssetsNoncurrent`	$33.28M	USD	Point-in-time
Total noncurrent assets	`AssetsNoncurrent`	$32.77M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$40.56M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$41.22M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.04M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.14M	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$2.54M	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$2.79M	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$2.69M	USD	Point-in-time
Accrued liabilities and other payables	`AccountsPayableAndOtherAccruedLiabilities`	$10.64M	USD	Point-in-time
Accrued liabilities and other payables	`AccountsPayableAndOtherAccruedLiabilities`	$12.97M	USD	Point-in-time
Accrued liabilities and other payables	`AccountsPayableAndOtherAccruedLiabilities`	$12.25M	USD	Point-in-time
Income tax payable	`TaxesPayableCurrent`	$219.17K	USD	Point-in-time
Income tax payable	`TaxesPayableCurrent`	$227.56K	USD	Point-in-time
Payable to contractors	`PayableToContractors`	$874.67K	USD	Point-in-time
Payable to contractors	`PayableToContractors`	$841.73K	USD	Point-in-time
Notes payable - related parties	`NotesPayableRelatedPartiesClassifiedCurrent`	$7.38M	USD	Point-in-time
Notes payable - related parties	`NotesPayableRelatedPartiesClassifiedCurrent`	$6.99M	USD	Point-in-time
Notes payable - related parties	`NotesPayableRelatedPartiesClassifiedCurrent`	$7.67M	USD	Point-in-time
Advance from related parties	`DueToRelatedPartiesCurrent`	$33.68M	USD	Point-in-time
Advance from related parties	`DueToRelatedPartiesCurrent`	$37.08M	USD	Point-in-time
Advance from related parties	`DueToRelatedPartiesCurrent`	$1.47M	USD	Point-in-time
Advance from related parties	`DueToRelatedPartiesCurrent`	$2.08M	USD	Point-in-time
Advance from related parties	`DueToRelatedPartiesCurrent`	$902.10K	USD	Point-in-time
Advance from related parties	`DueToRelatedPartiesCurrent`	$35.41M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$61.82M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$64.75M	USD	Point-in-time
Loan payable	`LongTermLoansFromBank`	$206.74K	USD	Point-in-time
Loan payable	`LongTermLoansFromBank`	$198.95K	USD	Point-in-time
Accrued expense	`OtherAccruedLiabilitiesNoncurrent`	$13.02K	USD	Point-in-time
Accrued expense	`OtherAccruedLiabilitiesNoncurrent`	$12.53K	USD	Point-in-time
Total noncurrent liabilities	`LiabilitiesNoncurrent`	$211.48K	USD	Point-in-time
Total noncurrent liabilities	`LiabilitiesNoncurrent`	$219.76K	USD	Point-in-time
Total liabilities	`Liabilities`	$64.97M	USD	Point-in-time
Total liabilities	`Liabilities`	$57.78M	USD	Point-in-time
Total liabilities	`Liabilities`	$62.03M	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 shares	`CommonStockValue`	$66.76K	USD	Point-in-time
Common stock, $0.001 par value; authorized shares 100,000,000; issued and outstanding 66,760,110 shares	`CommonStockValue`	$66.76K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$8.00M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$8.00M	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 (loss)	`AccumulatedOtherComprehensiveIncomeLossBeforeTax1`	$1.67M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossBeforeTax1`	$745.89K	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossBeforeTax1`	$-82.18K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-24.93M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-30.84M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-32.29M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-23.75M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-14.64M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-21.48M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS DEFICIT	`LiabilitiesAndStockholdersEquity`	$41.22M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS DEFICIT	`LiabilitiesAndStockholdersEquity`	$40.56M	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 profit	`GrossProfit`	-	USD	1 Quarter
Gross profit	`GrossProfit`	-	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.12M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.01M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.12M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.01M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.12M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.01M	USD	1 Quarter
Interest income	`InterestIncomeExpenseNet`	$49.00	USD	1 Quarter
Interest income	`InterestIncomeExpenseNet`	$23.00	USD	1 Quarter
Other expenses	`OtherExpenses`	$72.21K	USD	1 Quarter
Other expenses	`OtherExpenses`	$35.08K	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$271.91K	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$250.92K	USD	1 Quarter
Bank charges	`FinancialExpense`	$95.00	USD	1 Quarter
Bank charges	`FinancialExpense`	$125.00	USD	1 Quarter
Total non-operating expenses, net	`OtherOperatingIncomeExpenseNet`	$-323.21K	USD	1 Quarter
Total non-operating expenses, net	`OtherOperatingIncomeExpenseNet`	$-307.06K	USD	1 Quarter
Loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-1.33M	USD	1 Quarter
Loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-1.42M	USD	1 Quarter
Income tax (benefit) expense	`IncomeTaxExpenseBenefit`	$4.36K	USD	1 Quarter
Income tax (benefit) expense	`IncomeTaxExpenseBenefit`	$-2.50K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.43M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.33M	USD	1 Quarter
Foreign currency translation loss	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToNoncontrollingInterest`	$72.11K	USD	1 Quarter
Foreign currency translation loss	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToNoncontrollingInterest`	$828.07K	USD	1 Quarter
Net comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-1.40M	USD	1 Quarter
Net comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-2.26M	USD	1 Quarter
Basic and diluted weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	66.66M	shares	1 Quarter
Basic and diluted weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	66.76M	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	`NetIncomeLoss`	$-1.43M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.33M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$704.27K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$743.05K	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$131.25K	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$131.25K	USD	1 Quarter
Changes in deferred taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$2.50K	USD	1 Quarter
Changes in deferred taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-4.36K	USD	1 Quarter
Advance to suppliers	`IncreaseDecreaseAdvanceToSuppliers`	$997.00	USD	1 Quarter
Advance to suppliers	`IncreaseDecreaseAdvanceToSuppliers`	$530.00	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`	$-15.71K	USD	1 Quarter
Accrued liabilities and other payables	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$234.44K	USD	1 Quarter
Accrued liabilities and other payables	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$267.61K	USD	1 Quarter
Taxes payable	`IncreaseDecreaseInIncomeTaxes`	$-6.72K	USD	1 Quarter
Taxes payable	`IncreaseDecreaseInIncomeTaxes`	$-189.00	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-330.82K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-403.88K	USD	1 Quarter
Acquisition of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Acquisition of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Advance from related parties	`ProceedsFromRelatedPartyDebt`	$255.35K	USD	1 Quarter
Advance from related parties	`ProceedsFromRelatedPartyDebt`	$330.25K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$255.35K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$330.25K	USD	1 Quarter
EFFECT OF EXCHANGE RATE CHANGE ON CASH & EQUIVALENTS	`EffectOfExchangeRateOnCashContinuingOperations`	$1.26K	USD	1 Quarter
EFFECT OF EXCHANGE RATE CHANGE ON CASH & EQUIVALENTS	`EffectOfExchangeRateOnCashContinuingOperations`	$1.26K	USD	1 Quarter
NET INCREASE (DECREASE) IN CASH & EQUIVALENTS AND RESTRICTED CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-148.27K	USD	1 Quarter
NET INCREASE (DECREASE) IN CASH & EQUIVALENTS AND RESTRICTED CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$693.00	USD	1 Quarter
CASH & EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$34.17K	USD	Point-in-time
CASH & EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$34.87K	USD	Point-in-time
CASH & EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$32.57K	USD	Point-in-time
CASH & EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$180.84K	USD	Point-in-time
CASH & EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$34.17K	USD	Point-in-time
CASH & EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$34.87K	USD	Point-in-time
CASH & EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$32.57K	USD	Point-in-time
CASH & EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$180.84K	USD	Point-in-time
Income tax paid	`IncomeTaxesPaid`	$615.00	USD	1 Quarter
Income tax paid	`IncomeTaxesPaid`	-	USD	1 Quarter
Interest paid	`InterestPaidNet`	$18.88K	USD	1 Quarter
Interest paid	`InterestPaidNet`	$4.70K	USD	1 Quarter

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