10-Q Filing

ADAMANT DRI PROCESSING & MINERALS GROUP CIK: 1171008 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001493152-19-008437`
Period End Date	20190331
Filing Date	20190531
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	admg-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 63 Income Statement 40 Cash Flow Statement 48 Stockholders Equity 14

Balance Sheet 63 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`	$27.21K	USD	Point-in-time
Cash & equivalents	`CashAndCashEquivalentsAtCarryingValue`	$34.39K	USD	Point-in-time
Convertible preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Convertible preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Convertible preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$50.95K	USD	Point-in-time
Convertible preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$4.34K	USD	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$23.32K	USD	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$678.00	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
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Note receivable	`NotesAndLoansReceivableNetCurrent`	$15.58K	USD	Point-in-time
Note receivable	`NotesAndLoansReceivableNetCurrent`	$15.88K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$124.25K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	15.98M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$48.10K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	15.98M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	15.98M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	15.98M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$412.57K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$389.24K	USD	Point-in-time
Total noncurrent assets	`AssetsNoncurrent`	$412.57K	USD	Point-in-time
Total noncurrent assets	`AssetsNoncurrent`	$389.24K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$536.82K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$437.34K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$70.96K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	-	USD	Point-in-time
Accrued liabilities and other payables	`AccountsPayableAndOtherAccruedLiabilities`	$11.42K	USD	Point-in-time
Accrued liabilities and other payables	`AccountsPayableAndOtherAccruedLiabilities`	$94.46K	USD	Point-in-time
Income tax payable	`TaxesPayableCurrent`	$216.00	USD	Point-in-time
Income tax payable	`TaxesPayableCurrent`	$4.36K	USD	Point-in-time
Advance from related parties	`DueToRelatedPartiesCurrent`	$4.37K	USD	Point-in-time
Advance from related parties	`DueToRelatedPartiesCurrent`	$4.46K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$99.13K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$91.11K	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 15,977,922	`CommonStockValue`	$15.98K	USD	Point-in-time
Common stock, $0.001 par value; authorized shares 100,000,000; issued and outstanding 15,977,922	`CommonStockValue`	$15.98K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$7.53M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$7.53M	USD	Point-in-time
Share to be issued	`ShareToBeIssued`	-	USD	Point-in-time
Share to be issued	`ShareToBeIssued`	$69.00K	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`	$1.86M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossBeforeTax1`	$1.93M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-9.70M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-9.59M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$445.70K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$-23.75M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$338.21K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$-21.49M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$536.82K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$437.34K	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	-	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$6.46K	USD	1 Quarter
Cost of services provided	`CostOfRevenue`	-	USD	1 Quarter
Cost of services provided	`CostOfRevenue`	$4.70K	USD	1 Quarter
Gross profit	`GrossProfit`	-	USD	1 Quarter
Gross profit	`GrossProfit`	$1.76K	USD	1 Quarter
Selling expense	`SellingExpense`	$1.88K	USD	1 Quarter
Selling expense	`SellingExpense`	-	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$153.90K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$106.96K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$153.90K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$108.84K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-107.08K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-153.90K	USD	1 Quarter
Interest income	`InterestIncomeExpenseNet`	$16.00	USD	1 Quarter
Interest income	`InterestIncomeExpenseNet`	$18.00	USD	1 Quarter
Other expense	`OtherNonoperatingIncome`	-	USD	1 Quarter
Other expense	`OtherNonoperatingIncome`	$67.00	USD	1 Quarter
Bank charges	`FinancialExpense`	$64.00	USD	1 Quarter
Bank charges	`FinancialExpense`	$88.00	USD	1 Quarter
Total non-operating expenses, net	`OtherOperatingIncomeExpenseNet`	$-137.00	USD	1 Quarter
Total non-operating expenses, net	`OtherOperatingIncomeExpenseNet`	$-48.00	USD	1 Quarter
Loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-107.21K	USD	1 Quarter
Loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-153.95K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Loss from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-107.21K	USD	1 Quarter
Loss from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-153.95K	USD	1 Quarter
Loss from operations of discontinued entities, net of tax	`IncomeLossFromDiscontinuedOperationsNetOfTax`	-	USD	1 Quarter
Loss from operations of discontinued entities, net of tax	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-1.27M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-107.21K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.43M	USD	1 Quarter
Foreign currency translation loss	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToNoncontrollingInterest`	$69.28K	USD	1 Quarter
Foreign currency translation loss	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToNoncontrollingInterest`	$828.07K	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-176.49K	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-2.26M	USD	1 Quarter
Basic and diluted weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	15.98M	shares	1 Quarter
Basic and diluted weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	66.76M	shares	1 Quarter
Basic and diluted net loss per share	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Basic and diluted net loss per share	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-107.21K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.43M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$23.47K	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`	$69.00K	USD	1 Quarter
Bad debt expense	`ProvisionForDoubtfulAccounts`	$2.64K	USD	1 Quarter
Bad debt expense	`ProvisionForDoubtfulAccounts`	-	USD	1 Quarter
Changes in deferred taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-4.36K	USD	1 Quarter
Changes in deferred taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	-	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-51.06K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	1 Quarter
Other receivables	`IncreaseDecreaseInOtherReceivables`	$6.12K	USD	1 Quarter
Other receivables	`IncreaseDecreaseInOtherReceivables`	-	USD	1 Quarter
Advance to suppliers	`IncreaseDecreaseAdvanceToSuppliers`	$-997.00	USD	1 Quarter
Advance to suppliers	`IncreaseDecreaseAdvanceToSuppliers`	-	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-72.18K	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`	$12.77K	USD	1 Quarter
Taxes payable	`IncreaseDecreaseInIncomeTaxes`	$-4.22K	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`	$-30.80K	USD	1 Quarter
Proceeds from disposal of fixed asset	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	1 Quarter
Proceeds from disposal of fixed asset	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$22.97K	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$22.97K	USD	1 Quarter
Advance from related parties	`ProceedsFromRepaymentsOfRelatedPartyDebt`	-	USD	1 Quarter
Advance from related parties	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$330.25K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	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`	$647.00	USD	1 Quarter
NET INCREASE (DECREASE) IN CASH & EQUIVALENTS AND RESTRICTED CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-7.18K	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`	$34.87K	USD	Point-in-time
CASH & EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$34.39K	USD	Point-in-time
CASH & EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$34.17K	USD	Point-in-time
CASH & EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$27.21K	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`	$34.39K	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`	$27.21K	USD	Point-in-time
Income tax paid	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Income tax paid	`IncomeTaxesPaidNet`	$615.00	USD	1 Quarter
Interest paid	`InterestPaidNet`	$18.88K	USD	1 Quarter
Interest paid	`InterestPaidNet`	-	USD	1 Quarter

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$445.70K	USD	Point-in-time
Balance	`StockholdersEquity`	$-23.75M	USD	Point-in-time
Balance	`StockholdersEquity`	$338.21K	USD	Point-in-time
Balance	`StockholdersEquity`	$-21.49M	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-107.21K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.43M	USD	1 Quarter
Shares to be issued	`StockIssuedDuringPeriodSharesNewIssues`	5.10M	shares	Point-in-time
Shares to be issued	`StockIssuedDuringPeriodSharesNewIssues`	69,000.00	shares	1 Quarter
Foreign currency translation loss	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToNoncontrollingInterest`	$69.28K	USD	1 Quarter
Foreign currency translation loss	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToNoncontrollingInterest`	$828.07K	USD	1 Quarter
Balance	`StockholdersEquity`	$445.70K	USD	Point-in-time
Balance	`StockholdersEquity`	$-23.75M	USD	Point-in-time
Balance	`StockholdersEquity`	$338.21K	USD	Point-in-time
Balance	`StockholdersEquity`	$-21.49M	USD	Point-in-time

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