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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Zhen Ding Resources Inc (PK) | USOTC:RBTK | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 2.01 | 2.28 | 175.00 | 0.00 | 21:01:25 |
PART I - FINANCIAL INFORMATION
|
1
|
|
Item 1.
|
1
|
|
Item 2.
|
10
|
|
Item 3.
|
16
|
|
Item 4.
|
16
|
|
PART II - OTHER INFORMATION
|
17
|
|
Item 1.
|
17
|
|
Item 1A.
|
17
|
|
Item 2.
|
18
|
|
Item 3.
|
18
|
|
Item 4.
|
18
|
|
Item 5.
|
18
|
|
Item 6.
|
18
|
|
19
|
Zhen Ding Resources Inc.
|
Consolidated Balance Sheets
As of March 31, 2018 and December 31, 2017
(Unaudited)
|
|
March 31,
|
December 31,
|
||||||
|
2018
|
2017
|
||||||
Assets
|
||||||||
|
||||||||
Current Assets:
|
||||||||
Cash and cash equivalents
|
$
|
21,538
|
$
|
7,669
|
||||
Total current assets
|
21,538
|
7,669
|
||||||
|
||||||||
Total assets
|
$
|
21,538
|
$
|
7,669
|
||||
|
||||||||
Liabilities and Equity (Deficit)
|
||||||||
|
||||||||
Current Liabilities:
|
||||||||
Accounts payable and accrued liabilities
|
$
|
325,134
|
$
|
313,787
|
||||
Accounts payable and accrued liabilities-related parties
|
3,746,332
|
3,479,101
|
||||||
Deferred revenues
|
160,256
|
154,619
|
||||||
Due to related parties
|
828,263
|
799,282
|
||||||
Short-term debt
|
27,500
|
-
|
||||||
Short-term debt-related parties
|
4,064,751
|
3,939,377
|
||||||
Total current liabilities
|
9,152,236
|
8,686,166
|
||||||
|
||||||||
Equity (Deficit):
|
||||||||
Common stock, 150,000,000 authorized, $0.0001 par
value, 63,968,798 shares issued and outstanding |
6,397
|
6,397
|
||||||
Additional paid-in capital
|
12,762,875
|
12,762,875
|
||||||
Subscriptions receivable
|
(5,431
|
)
|
(5,431
|
)
|
||||
Accumulated other comprehensive loss
|
(9,032
|
)
|
193,802
|
|||||
Accumulated deficit
|
(19,133,637
|
)
|
(19,011,152
|
)
|
||||
Total deficit attributable to Zhen Ding Resources Inc.
|
(6,378,828
|
)
|
(6,053,509
|
)
|
||||
Non-controlling interests
|
(2,751,870
|
)
|
(2,624,988
|
)
|
||||
|
||||||||
Total equity (deficit)
|
(9,130,698
|
)
|
(8,678,497
|
)
|
||||
|
||||||||
Total liabilities and equity (deficit)
|
$
|
21,538
|
$
|
7,669
|
Zhen Ding Resources Inc.
|
||||||||
Consolidated Statements of Operations and Comprehensive Loss
|
||||||||
For the three months ended March 31, 2018 and 2017
(Unaudited)
|
||||||||
March 31,
|
March 31,
|
|||||||
|
2018
|
2017
|
||||||
Operating expenses:
|
||||||||
General and administrative
|
$
|
14,811
|
$
|
26,183
|
||||
|
||||||||
Total operating expenses
|
14,811
|
26,183
|
||||||
|
||||||||
Operating loss
|
(14,811
|
)
|
(26,183
|
)
|
||||
|
||||||||
Other expense:
|
||||||||
Interest expense
|
(147,627
|
)
|
(138,115
|
)
|
||||
|
||||||||
Net loss
|
(162,438
|
)
|
(164,298
|
)
|
||||
|
||||||||
Loss attributable to non-controlling
interests |
39,953
|
41,559
|
||||||
|
||||||||
Net loss attributable to Zhen Ding
Resources Inc. |
$
|
(122,485
|
)
|
$
|
(122,739
|
)
|
||
|
||||||||
Basic and diluted loss per common share
|
$
|
(0.00
|
)
|
$
|
(0.00
|
)
|
||
|
||||||||
Basic and diluted weighted average number
of common shares outstanding
|
63,968,798
|
63,968,798
|
||||||
|
||||||||
Comprehensive loss:
|
||||||||
Net loss
|
$
|
(162,438
|
)
|
$
|
(164,298
|
)
|
||
Other comprehensive loss:
|
||||||||
Foreign currency translation adjustments
|
(289,762
|
)
|
(47,555
|
)
|
||||
Total comprehensive loss
|
(452,200
|
)
|
(211,853
|
)
|
||||
Comprehensive loss attributable to non-
controlling interests |
126,881
|
55,826
|
||||||
Comprehensive loss attributable to
Zhen Ding Resources Inc. |
$
|
(325,319
|
)
|
$
|
(156,027
|
)
|
Zhen Ding Resources Inc.
|
||||||||
Consolidated Statements of Cash Flows
For the three months ended March 31, 2018 and 2017
(Unaudited)
|
||||||||
|
March 31,
|
March 31,
|
||||||
|
2018
|
2017
|
||||||
Cash flows from operating activities
|
||||||||
Net loss
|
$
|
(162,438
|
)
|
$
|
(164,298
|
)
|
||
Adjustment to reconcile net loss to net cash used in operating activities:
|
||||||||
Accounts payable and accrued liabilities
|
970
|
2,337
|
||||||
Accounts payable and accrued liabilities-related parties
|
147,056
|
139,820
|
||||||
Net cash used in operating activities
|
(14,412
|
)
|
(22,141
|
)
|
||||
|
||||||||
Cash flows from financing activities
|
||||||||
Proceeds from borrowings on short-term debt
|
27,500
|
-
|
||||||
Proceeds from borrowings on short-term debt – related parties
|
222
|
35,571
|
||||||
Net cash provided by financing activities
|
27,722
|
35,571
|
||||||
|
||||||||
Foreign currency translation
|
559
|
(2
|
)
|
|||||
|
||||||||
Net change in cash
|
13,869
|
13,428
|
||||||
|
||||||||
Cash and cash equivalents - beginning of the period
|
7,669
|
4,320
|
||||||
|
||||||||
Cash and cash equivalents - end of the period
|
$
|
21,538
|
$
|
17,748
|
||||
|
||||||||
Supplemental cash flow information:
|
||||||||
Cash paid for interest
|
$
|
-
|
$
|
-
|
||||
Cash paid for income tax
|
$
|
-
|
$
|
-
|
Name
|
Relationship to the Company
|
Amount
|
Interest Rate
|
Start Date
|
Maturity
|
||||||
Short-term debt – related party
|
|
|
|||||||||
Wei De Gang
|
Former CFO & Legal person of
JXZD |
$
|
2,862,396
|
15
|
%
|
May 31, 2011
|
May 31,
2014 |
||||
Zhao Yan Ling
|
Former office manager of JXZD,
wife of Zhou Zhi Bin |
16,716
|
15
|
%
|
January 1, 2011
|
December 31,
2013 |
|||||
Zhou Zhi Bin
|
Former CEO & Legal person of
JXZD |
7,960
|
15
|
%
|
January 1, 2011
|
December 31,
2013 |
|||||
Tang Yong Hong
|
Manager of JXZD
|
342,682
|
15
|
%
|
February 28,
2015 |
February 28,
2016 |
|||||
Yan Chun Yan
|
Accountant of JXZD
|
9,909
|
15
|
%
|
August 31,
2014 |
August 31,
2015 |
|||||
Wen Mei Tu
|
President & shareholder of ZDRI
|
370,800
|
12
|
%
|
Various
|
Various
|
|||||
Importation
Tresor Plus Inc |
Shareholder of ZDRI
|
30,000
|
12
|
%
|
July 9, 2012
|
July 12, 2013
|
|||||
Tony Ng Man
Kin |
Shareholder of ZDRI
|
25,000
|
12
|
%
|
February 27,
2013 |
February 27,
2014 |
|||||
Wei Tai Trading
Inc. |
Shareholder of ZDRI
|
12,000
|
12
|
%
|
June 3, 2015
|
September 3,
2015 |
|||||
JYS Technologies
Inc. |
Wen Mei Tu’s brother in law owned
|
6,000
|
12
|
%
|
May 22, 2015
|
July 19, 2016
|
|||||
Philip Pak
|
Consultant & shareholder of ZDRI
|
41,000
|
12
|
%
|
Various
|
Various
|
|||||
Victor Sun
|
Consultant & shareholder of ZDRI
|
3,923
|
0
|
%
|
January 1, 2013
|
On Demand
|
|||||
Helen Chen
|
President of Z&W CA
|
17,965
|
0
|
%
|
January 1, 2011
|
On Demand
|
|||||
|
|
|
|
||||||||
Current portion of long-term debt
|
|
|
|||||||||
Zhou Qiang
|
Office manager of JXZD
|
318,400
|
15
|
%
|
December 18,
2012 |
December
18, 2015 |
|||||
Total
|
|
$
|
4,064,751
|
|
|
Name
|
Relationship to the Company
|
Amount
|
Interest Rate
|
Start Date
|
Maturity
|
||||||
Short-term debt
|
|
|
|
||||||||
Wei De Gang
|
Former CFO & Legal person of
JXZD |
$
|
2,761,708
|
15
|
%
|
May 31, 2011
|
May 31,
2014 |
||||
Zhao Yan Ling
|
Former office manager of JXZD,
wife of Zhou Zhi Bin |
16,128
|
15
|
%
|
January 1, 2011
|
December
31, 2013 |
|||||
Zhou Zhi Bin
|
Former CEO & Legal person of
JXZD |
7,680
|
15
|
%
|
January 1, 2011
|
December
31, 2013 |
|||||
Tang Yong Hong
|
Manager of JXZD
|
330,628
|
15
|
%
|
February 28,
2015 |
February 28,
2016 |
|||||
Yan Chun Yan
|
Accountant of JXZD
|
9,345
|
15
|
%
|
August 31, 2014
|
August 31,
2015 |
|||||
Wen Mei Tu
|
President & shareholder of ZDRI
|
370,800
|
12
|
%
|
Various
|
Various
|
|||||
Importation
Tresor Plus Inc |
Shareholder of ZDRI
|
30,000
|
12
|
%
|
July 9, 2012
|
July 12,
2013 |
|||||
Tony Ng Man
Kin |
Shareholder of ZDRI
|
25,000
|
12
|
%
|
February 27,
2013 |
February 27,
2014 |
|||||
Wei Tai Trading
Inc. |
Shareholder of ZDRI
|
12,000
|
12
|
%
|
June 3, 2015
|
September
3, 2015 |
|||||
JYS Technologies
Inc. |
Wen Mei Tu’s brother in law owned
|
6,000
|
12
|
%
|
May 22, 2015
|
July 19,
2016 |
|||||
Philip Pak
|
Shareholder of ZDRI
|
41,000
|
12
|
%
|
Various
|
Various
|
|||||
Victor Sun
|
Consultant & shareholder of ZDRI
|
3,923
|
0
|
%
|
January 1, 2013
|
On Demand
|
|||||
Helen Chen
|
President of Z&W CA
|
17,965
|
0
|
%
|
January 1, 2011
|
On Demand
|
|||||
|
|
|
|
||||||||
Current portion of long-term debt
|
|
|
|||||||||
Zhou Qiang
|
Office manager of JXZD
|
307,200
|
15
|
%
|
December 18,
2012 |
December 18,
2015 |
|||||
Total
|
|
$
|
3,939,377
|
|
|
Three Months
Ended March 31, 2018 |
Three Months
Ended March 31, 2017 |
Percentage Increase
(Decrease) Between Three Month Periods Ended March 31, 2018 and
March 31, 2017
|
||||||||||
General and administrative
|
$
|
14,811
|
$
|
26,183
|
(43.43
|
)%
|
||||||
Interest expense
|
147,627
|
138,115
|
6.89
|
%
|
||||||||
Net loss
|
$
|
162,438
|
$
|
164,298
|
(1.13
|
)%
|
At
March 31, 2018 |
At
December 31, 2017 |
|||||||
Current assets
|
$
|
21,538
|
$
|
7,669
|
||||
Current liabilities
|
9,152,236
|
8,686,166
|
||||||
Working capital deficit
|
$
|
(9,130,698
|
)
|
$
|
(8,678,497
|
)
|
|
Three Months Ended
|
|||||||
|
March 31,
|
|||||||
|
2018
|
2017
|
||||||
Net cash used in operating activities
|
$
|
(14,412
|
)
|
$
|
(22,141
|
)
|
||
Net cash provided by financing activities
|
$
|
27,722
|
$
|
35,571
|
||||
Net increase in cash during period
|
$
|
13,869
|
$
|
13,428
|
Estimated Net Expenditures During The Next Twelve Months
|
||||
|
||||
General and administrative expenses
|
$
|
1,000,000
|
||
Exploration expenses: identify additional veins; re-start mill; re-test mill;
develop expansion plan for plant capacity
|
$
|
2,000,000
|
||
Total
|
$
|
3,000,000
|
Exhibit
Number |
|
Description
|
(3)
|
|
Articles of Incorporation and Bylaws
|
3.1
|
|
Articles of Incorporation filed with the Secretary of State of the State of Delaware on September 6, 1996
(Incorporated by reference to our Registration Statement on Form S-1 filed January 6, 2014)
|
3.2
|
|
Bylaws
(Incorporated by reference to our Registration Statement on Form S-1 filed January 6, 2014)
|
3.3
|
|
Certificate of Amendment of Certificate of Incorporation filed with the Secretary of State of the State of Delaware on November 4, 1996
(Incorporated by reference to our Registration Statement on Form S-1 filed January 6, 2014)
|
3.4
|
|
Certificate of Amendment of Certificate of Incorporation filed with the Secretary of State of the State of Delaware on February 28, 2012
(Incorporated by reference to our Registration Statement on Form S-1 filed January 6, 2014)
|
3.5
|
|
Certificate of Amendment of Certificate of Incorporation filed with the Secretary of State of the State of Delaware on March 20, 2012
(Incorporated by reference to our Registration Statement on Form S-1 filed January 6, 2014)
|
3.6
|
|
Certificate of Ownership and Merger filed with the Secretary of State of the State of Delaware on October 28, 2013
(Incorporated by reference to our Registration Statement on Form S-1 filed January 6, 2014)
|
(10)
|
|
Material Contracts
|
10.1
|
|
The Contract for Sino-Foreign Equity Joint Venture dated as of November 12, 2004 by and between Zhen Ding Corporation and Jing Xiang Xin Zhou Gold Co. Ltd.
(Incorporated by reference to our Registration Statement on Form S-1 filed January 6, 2014)
|
10.2
|
|
Articles of Association for Zhen Ding JV dated as of October 12, 2006 by and between Z&W Zhen Ding Corporation and Jing Xiang Xin Zhou Gold Co. Ltd.
(Incorporated by reference to our Registration Statement on Form S-1/A filed on February 13, 2015)
|
10.3
|
|
Supply Contract of Gold Concentrate Fines dated July 20, 2012 between Zhen Ding Mining Co., Ltd. and Yantai Jin Ao Metallurgical Co. Ltd.
(Incorporated by reference to our Registration Statement on Form S-1/A filed on February 13, 2015)
|
10.4
|
|
Mining License No. C3400002009114110049341 dated November 5, 2014 in favor of Jing Xiang Xin Zhou Gold Co. Ltd.
(Incorporated by reference to our Registration Statement on Form S-1/A filed on February 13, 2015)
|
10.5
|
|
Gold Mining License No. (2005) 042 in favor of Jing Xiang Xin Zhou Gold Co. Ltd.
(Incorporated by reference to our Registration Statement on Form S-1/A filed on February 13, 2015)
|
10.6
|
|
Form of Loan Agreements between Wen Mei Tu and Zhen Ding Resources Inc.
(Incorporated by reference to our Registration Statement on Form S-1/A filed on February 13, 2015)
|
10.7
|
|
Business License Registration No. 3425004000003061(1-1) dated November 17, 2014 in favor of Zhen Ding Mining Co. Ltd.
(Incorporated by reference to our Registration Statement on Form S-1/A filed June 9, 2015)
|
(21)
|
|
List of Subsidiaries
|
21.1
|
|
Z&W Zhen Ding Corporation, a California corporation (100% held)
|
21.2
|
|
Zhen Ding Mining Co. Ltd., a PRC corporation (70% held)
|
(31)
|
|
Rule 13a-14 (d)/15d-14d) Certifications
|
31.1*
|
|
|
31.2*
|
|
Section 302 Certification by the Principal Financial Officer and Principal Accounting Officer
|
(32)
|
|
Section 1350 Certifications
|
32.1*
|
|
|
32.2*
|
|
Section 906 Certification by the Principal Financial Officer and Principal Accounting Officer
|
101
*
|
|
Interactive Data File
|
101.INS
|
|
XBRL Instance Document
|
101.SCH
|
|
XBRL Taxonomy Extension Schema Document
|
101.CAL
|
|
XBRL Taxonomy Extension Calculation Linkbase Document
|
101.DEF
|
|
XBRL Taxonomy Extension Definition Linkbase Document
|
101.LAB
|
|
XBRL Taxonomy Extension Label Linkbase Document
|
101.PRE
|
|
XBRL Taxonomy Extension Presentation Linkbase Document
|
|
|
|
ZHEN DING RESOURCES INC.
|
|
|
|
(Registrant)
|
|
|
|
|
|
|
|
|
Dated: May 21, 2018
|
|
|
/s/ Wen Mei Tu
|
|
|
|
Wen Mei Tu
|
|
|
|
President, Treasurer, Secretary and Director
|
|
|
|
(Principal Executive Officer, Principal Financial Officer
and Principal Accounting Officer) |
1 Year Zhen Ding Resources (PK) Chart |
1 Month Zhen Ding Resources (PK) Chart |
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