Zhen Ding Resources (RBTK) 10-Q 14 Nov 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Nov. 14, 2017
Document And Entity Information
Entity Registrant Name	ZHEN DING RESOURCES INC.
Entity Central Index Key	1,594,204
Document Type	10-Q
Trading Symbol	RBTK
Document Period End Date	Sep. 30, 2017
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity a Well-known Seasoned Issuer	No
Entity a Voluntary Filer	No
Entity's Reporting Status Current	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		63,968,798
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,017

Balance Sheets (Unaudited)

Balance Sheets (Unaudited) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Current Assets:
Cash and cash equivalents	$ 19,725	$ 6,918
Total current assets	19,725	6,918
Total assets	19,725	6,918
Current Liabilities:
Accounts payable and accrued liabilities	332,019	305,804
Accounts payable and accrued liabilities -related parties	3,268,570	2,737,056
Deferred revenues	151,297	144,926
Due to related parties	809,134	749,219
Short-term debt - related parties	3,865,071	3,642,110
Total current liabilities	8,426,091	7,579,115
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	306,860	524,801
Accumulated deficit	(18,932,930)	(18,530,405)
Total deficit attributable to Zhen Ding Resources Inc.	(5,862,229)	(5,241,763)
Non-controlling interests	(2,544,137)	(2,330,434)
Total equity (deficit)	(8,406,366)	(7,572,197)
Total liabilities and equity (deficit)	$ 19,725	$ 6,918

Balance Sheets (Unaudited) (Par

Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, authorized	150,000,000	150,000,000
Common stock, issued	63,968,798	63,968,798
Common stock, outstanding	63,968,798	63,968,798

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Operating expenses:
General and administrative	$ 19,564	$ 20,592	$ 109,445	$ 81,305
Total operating expense	19,564	20,592	109,445	81,305
Operating loss	(19,564)	(20,592)	(109,445)	(81,305)
Other expense:
Interest expense	(142,756)	(132,475)	(413,377)	(409,434)
Net loss	(162,320)	(153,067)	(522,822)	(490,739)
Loss attributable to non-controlling interests	41,497	39,262	120,297	122,346
Net loss attributable to Zhen Ding Resources Inc.	$ (120,823)	$ (113,805)	$ (402,525)	$ (368,393)
Basic and diluted loss per common share (in dollars per share)	$ 0	$ 0	$ (0.01)	$ (0.01)
Basic and diluted weighted average number of common shares outstanding (in shares)	63,968,798	63,968,798	63,968,798	63,968,798
Comprehensive loss:
Net loss	$ (162,320)	$ (153,067)	$ (522,822)	$ (490,739)
Other comprehensive income (loss):
Foreign currency translation adjustments	(137,514)	22,088	(311,348)	183,595
Total comprehensive loss	(299,834)	(130,979)	(834,170)	(307,144)
Comprehensive income (loss) attributable to non-controlling interest	82,752	32,635	213,703	67,267
Comprehensive income (loss) attributable to Zhen Ding Resources Inc.	$ (217,082)	$ (98,344)	$ (620,467)	$ (239,877)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash flows from operating activities
Net loss	$ (522,822)	$ (490,739)
Change in operating assets and liabilities
Accounts payable and accrued liabilities	14,020	20,845
Accounts payable and accrued liabilities -related parties	413,377	411,138
Net cash used in operating activities	(95,425)	(58,756)
Cash flows from financing activities
Net change in advance from related party	26,650
Proceeds from borrowings on short-term debt - related parties	81,587	80,515
Net cash provided by financing activities	108,237	80,515
Foreign currency translation	(5)	(16)
Net change in cash	12,807	21,743
Cash and cash equivalents - beginning of the period	6,918	4,320
Cash and cash equivalents - end of the period	19,725	26,063
Supplement cash flows information:
Cash paid for interest
Cash paid for income tax

Description of Business

Description of Business	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	Note 1. Description of Business Zhen Ding Resources Inc. (formerly Robotech Inc.) (the “Company”, “Zhen Ding DE”, or “ZDRI”) was incorporated in the State of Delaware in September 1996 and began its business activities in the development and marketing of specialized technological equipment. In early 2010, the business direction of our Company was changed to seek opportunities to focus particularly on searching for companies engaged in the mining of gold, silver and copper. The Company, then known as Robotech Inc., entered into negotiations with Zhen Ding Resources Inc., a Nevada entity (“Zhen Ding NV”). Zhen Ding NV indirectly owns 70% of a Chinese Joint Venture entity, Zhen Ding Mining Co. Ltd. (“Zhen Ding JV” or “JXZD”) through a 100% owned subsidiary in California, Zhen Ding Corporation (“Z&W CA”). During 2012 and 2013, total issued and outstanding common stock of Zhen Ding NV were tendered to our Company. On October 28, 2013, our Company dissolved Zhen Ding NV by merging it into our Company and we changed our name from Robotech Inc. to Zhen Ding Resources Inc. Our Company, now through Zhen Ding NV’s wholly owned subsidiary, Z&W CA, participates in a joint venture with Jing Xian Xinzhou Gold Co., Ltd. (“Xinzhou Gold”), a company organized under the laws of the People’s Republic of China (“PRC”). The joint venture company JXZD is 70% held by our Company through Z&W CA who has the mineral exploration, mineral mining and gold mining rights to a property located in the southwestern part of Anhui province in China, near the town of Jing Xian. Xinzhou Gold, the other 30% partner of JXZD is the actual named owner of the various licenses used by JXZD and transferred all rights emanating from these licenses as part of the joint venture agreement between Z&W CA and Xinzhou Gold. Our Company’s primary activity, through JXZD, is ore processing and production in China. The Company had limited operations and plans to resume selling processed ore concentrate as soon as possible to provide Zhen Ding JV the cash flow needed to keep its plant operating and to maintain a viable work force for future expansion.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2. Summary of Significant Accounting Policies The summary of significant accounting policies presented below is designed to assist in understanding the Company’s financial statements. Such financial statements and accompanying notes are the representations of the Company’s management, which is responsible for the integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States of America (“U.S. GAAP”) in all material respects and have been consistently applied in preparing the accompanying financial statements. Basis of Presentation and Principles of Consolidation The accompanying unaudited consolidated financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim unaudited consolidated financial information. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete consolidated financial statements. The unaudited consolidated financial statements furnished reflect all adjustments (consisting of normal recurring adjustments) which are, in the opinion of management, necessary for a fair presentation of the results for the interim periods presented. Interim results are not necessarily indicative of the results for the full year. These unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements of the Company for the year ended December 31, 2016 and notes thereto contained in the Company’s Annual Report on Form 10-K. The consolidated financial statements include the accounts of the Company, its wholly-owned subsidiaries Z&W CA and its majority owned subsidiary JXZD. All inter-company transactions and balances were eliminated. The portion of the income applicable to non-controlling interests in subsidiary undertakings is reflected in the consolidated statements of operations. Use of Estimates and Assumptions The Company prepares its financial statements in conformity with U.S. GAAP, which requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Foreign Currency Adjustments Assets and liabilities recorded in foreign currencies are translated at the exchange rate on the balance sheet date. Revenue and expenses are translated at average rates of exchange prevailing during the year. Any translation adjustments are reflected as a separate component of stockholders’ equity (deficit) and have no effect on current earnings. Gains and losses resulting from foreign currency transactions are included in current results of operations. During the nine months ended September 30, 2017 and 2016, the Company had aggregate foreign currency translation gain (losses) of $(311,348) and $183,595, respectively. Cash and Cash Equivalents The Company considers all highly liquid investments purchased with an original maturity of six months or less to be cash equivalents. Accounts Receivable Accounts receivable are stated at the amount the Company expects to collect. The Company maintains allowances for doubtful accounts for estimated losses resulting from the inability of its customers to make required payments. Management considers the following factors when determining the collectability of specific customer accounts: customer credit-worthiness, past transaction history with the customer, current economic industry trends, and changes in customer payment terms. Past due balances over 90 days and other higher risk amounts are reviewed individually for collectability. If the financial condition of the Company’s customers were to deteriorate, adversely affecting their ability to make payments, additional allowances would be required. Based on management’s assessment, the Company provides for estimated uncollectible amounts through a charge to earnings and a credit to a valuation allowance. Balances that remain outstanding after the Company has used reasonable collection efforts are written off through a charge to the valuation allowance and a credit to accounts receivable. As of September 30, 2017 and December 31, 2016, the Company fully reserved the accounts receivable of $181,391 and $177,087, respectively, for doubtful accounts. Property, plant and Equipment Property, plant and equipment is stated at the historical cost, less accumulated depreciation. Depreciation on property, plant and equipment is provided using the straight-line method over the estimated useful lives of the assets for both financial and income tax reporting purposes as follows: Buildings 20 years Motor vehicles 5 years Production and office Equipment 5 years Expenditures for normal repairs and maintenance are charged to expense as incurred. Significant renewals and improvements are capitalized. The costs and related accumulated depreciation of assets retired or otherwise disposed of are eliminated from the accounts, and any resulting gain or loss is recognized in the year of disposal. Impairment of Long-Lived Assets Management reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount may not be realizable or at a minimum annually during the fourth quarter of the year. If an evaluation is required, the estimated future undiscounted cash flows associated with the asset are compared to the asset’s carrying value to determine if an impairment of such asset is necessary. The effect of any impairment would be to expense the difference between the fair value of such asset and its carrying value. Income Taxes An asset and liability approach is used for financial accounting and reporting for income taxes. Deferred income taxes arise from temporary differences between income tax and financial reporting and principally relate to recognition of revenue and expenses in different periods for financial and tax accounting purposes and are measured using currently enacted tax rates and laws. In addition, a deferred tax asset can be generated by net operating loss carry forwards. If it is more likely than not that some portion or all of a deferred tax asset will not be realized, a valuation allowance is recognized. The Company has tax losses that may be applied against future taxable income. The potential tax benefit arising from these loss carryforwards are offset by a valuation allowance due to uncertainty of profitable operations in the future. Fair Values of Financial Instruments Management believes that the carrying amounts of the Company’s financial instruments, consisting primarily of cash, account receivable and accounts payable, approximated their fair values as of September 30, 2017 and December 31, 2016, due to their short-term nature. Non-controlling Interests Non-controlling interests in the Company’s subsidiaries are reported as a component of equity, separate from the parent’s equity. Purchase or sale of equity interests that do not result in a change of control are accounted for as equity transactions. Results of operations attributable to the minority interest are included in our consolidated results of operations and, upon loss of control, the interest sold, as well as interest retained, if any, will be reported at fair value with any gain or loss recognized in earnings. Basic and Diluted Earnings (Loss) Per Common Share The basic net loss per common share is computed by dividing the net loss by the weighted average number of common shares outstanding. Diluted net loss per common share is computed by dividing the net loss adjusted on an “as converted” basis, by the weighted average number of common shares outstanding plus potential dilutive securities. For all periods presented, there were no potentially dilutive securities outstanding. Subsequent The Company evaluated events subsequent to September 30, 2017 through the date the financial statements were issued for disclosure consideration. Recently Issued Accounting Pronouncements In August 2014, the FASB issued ACU 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. The new standard requires management to assess the company’s ability to continue as a going concern. Disclosures are required if there is substantial doubt as to the company’s continuation as a going concern within one year after the issue date of financial statements. The standard provides guidance for making the assessment, including consideration of management’s plans which may alleviate doubt regarding the Company’s ability to continue as a going concern. ASU 2014-15 is effective for years ending after December 15, 2016. The Company adopted this standard for the year ending December 31, 2016, and management has concluded that there is substantial doubt as to the Company’s continuation as a going concern within one year after the issuance date of the financial statements.

Going Concern

Going Concern	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Going Concern	Note 3. Going Concern These financial statements have been prepared on a going concern basis, which implies the Company will continue to meet its obligations and continue its operations for the next twelve months. As of September 30, 2017, the Company had accumulated losses of $18,932,930 since inception and had a working capital deficit of $8,406,366. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern. The continuation of the Company as a going concern is dependent upon financial support from its stockholders, the ability of the Company to obtain necessary equity financing to continue operations, and the attainment of profitable operations. Realization value may be substantially different from carrying values as shown and these financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

VAT Receivables

VAT Receivables	9 Months Ended
	Sep. 30, 2017
Receivables [Abstract]
VAT Receivables	Note 4. VAT Receivables The VAT receivables are the input tax of VAT to the purchased materials and property and equipment. As of September 30, 2017 and December 31, 2016, the Company fully reserved the VAT receivable of approximately $161,000, respectively, due to uncertainty of recovering this receivable from the local tax authority.

Property, plant and Equipment

Property, plant and Equipment	9 Months Ended
	Sep. 30, 2017
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Note 5. Property, plant and Equipment Property, plant and equipment consisted of the following as of: September 30, December 31, 2017 2016 Buildings $ 1,279,319 $ 1,225,448 Motor vehicles 60,460 57,914 Production and office equipment 1,253,190 1,200,419 Construction in progress 161,230 154,441 Subtotal 2754,199 2,638,222 Less: Accumulated depreciation (1,116,996 ) (1,069,960 ) Less: Impairment of long-lived assets (1,637,203 ) (1,568,262 ) Property, plant and equipment, net $ - $ - For the nine month ended September 30, 2017 and 2016, the Company recorded depreciation expense of $0. In the PRC, land use rights, are the legal rights for an entity to use land for a fixed period of time. The PRC adopts a dual land tenure system under which land ownership is independent of land use rights. The land is either owned by the state (“State Land”) or by a rural collective economic organization (“Collective Land”). As of September 30, Property and equipment mainly consisted of equipment or buildings in relation to ore processing operation in Anhui, China. The Company only had access to lower quality ore powder and the probability to sell these low quality processed ore powder is low. Accordingly, the Company had no production since 2015. At December 31, 2015, the Company determined that the long-lived assets have been impaired because of the reduction in the production, projections of declining future cash flows and the uncertainty of continuing operations. Accordingly, the Company evaluated the ongoing value of the property and equipment associated with its ore processing operation and determined that assets with a carrying amount of approximately $1.5 million were no longer recoverable and were in fact impaired. The Company wrote the assets down to their estimated fair value. Fair value was based on expected future cash flows using Level 3 inputs under ASC 820. The cash flows are those expected to be generated by the market participants, discounted at the risk-free rate of interest. At December 31, 2015, the Company recorded an approximately $1.8 million impairment loss on the assets, which was reflected as a separate line item in the income statement.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2017
Related Party Transactions [Abstract]
Related Party Transactions	Note 6. Related Party Transactions Accounts payable As of September 30, 2017 and December 31, Short-term debt As of September 30, 2017 and December 31, 2016, the Company had short-term debts to related parties of $3,865,071 and $3,642,110, respectively. The details of the loans are described as below. At September 30, Name Relationship to the Company Amount Interest Rate Start Date Maturity Shor-term debt Wei De Gang CEO & Legal person of JXZD $ 2,702,373 15% May 31, 2011 May 31, 2014 Zhao Yan Ling Former office manager of JXZD, wife of Zhou Zhi Bin 15,782 15% January 1, 2011 December 31, 2013 Zhou Zhi Bin Former CEO & Legal person of JXZD 7,515 15% January 1, 2011 December 31, 2013 Tang Yong Hong Manager of JXZD 323,525 15% February 28, 2015 February 28, 2016 Yan Chun Yan Accountant of JXZD 8,588 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 300,600 15% December 18, 2012 December 18, 2015 Total $ 3,865,071 At December 31, 2016: Annual Name Relationship to the Company Amount Interest Rate Start Date Maturity Shor-term debt Wei De Gang CEO & Legal Person of JXZD $ 2,588,518 15% May 31, 2011 May 31, 2014 Zhao Yan Ling Former Office Manager in JXZD, wife of Zhou Zhi Bin 15,117 15% January 1, 2011 December 31, 2013 Zhou Zhi Bin Former CEO & Legal Person of JXZD 7,200 15% January 1, 2011 December 31, 2013 Tang Yong Hong Manager of JXZD 309,901 15% February 28, 2015 February 28, 2016 Yan Chun Yan Accountant of JXZD 6,686 15% August 31, 2014 August 31, 2015 Wen Mei Tu President & shareholder of ZDRI 331,800 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. Owned by Wen Mei Tu’s brother-in-law 6,000 12% May 22, 2015 July 19, 2016 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 288,000 15% December 18, 2012 December 18, 2015 Total $ 3,642,110 As of September 30, 2017 and December 31, 3,268,570 and $2,737,056, respectively. For the nine months ended September 30, 2017 and 2016, the Company recorded interest expense of $413,377 and $409,434, respectively.

Deferred Revenues

Deferred Revenues	9 Months Ended
	Sep. 30, 2017
Deferred Revenue Disclosure [Abstract]
Deferred Revenues	Note 7. Deferred Revenues As of September 30, 2017 and December 31,

Contingencies

Contingencies	9 Months Ended
	Sep. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Note 8. Contingencies Concentration of Credit Risk Substantially all of the Company’s bank accounts are in banks located in The People’s Republic of China and are not covered by protection similar to that provided by the FDIC on funds held in United States banks. Vulnerability Due to Operations in PRC The Company’s operations in China may be adversely affected by significant political, economic and social uncertainties in the PRC. Although the PRC government has been pursuing economic reform policies for more than twenty years, no assurance can be given that the PRC government will continue to pursue such policies or that such policies may not be significantly altered, especially in the event of a change in leadership, social or political disruption or unforeseen circumstances affecting the PRC’s political, economic and social conditions. There is also no guarantee that the PRC government’s pursuit of economic reforms will be consistent or effective in the future.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Income Taxes	Note 9. Income Taxes The Company and its subsidiaries are subject to income taxes on an "entity" basis that is, on income arising in or derived from the tax jurisdiction in which each entity is domiciled. It is management's intention to reinvest all the income earned by the Company's subsidiaries outside of the US. Accordingly, no US federal income taxes have been provided on earnings of the foreign based subsidiaries. The Company was incorporated in the United States and is subject to United States federal income taxes and has incurred operating losses since its inception. The Company's joint venture in China is subject to a 25% statutory PRC

Summary of Significant Accoun15

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The accompanying unaudited consolidated financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim unaudited consolidated financial information. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete consolidated financial statements. The unaudited consolidated financial statements furnished reflect all adjustments (consisting of normal recurring adjustments) which are, in the opinion of management, necessary for a fair presentation of the results for the interim periods presented. Interim results are not necessarily indicative of the results for the full year. These unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements of the Company for the year ended December 31, 2016 and notes thereto contained in the Company’s Annual Report on Form 10-K. The consolidated financial statements include the accounts of the Company, its wholly-owned subsidiaries Z&W CA and its majority owned subsidiary JXZD. All inter-company transactions and balances were eliminated. The portion of the income applicable to non-controlling interests in subsidiary undertakings is reflected in the consolidated statements of operations.
Use of Estimates and Assumptions	Use of Estimates and Assumptions The Company prepares its financial statements in conformity with U.S. GAAP, which requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Foreign Currency Adjustments	Foreign Currency Adjustments Assets and liabilities recorded in foreign currencies are translated at the exchange rate on the balance sheet date. Revenue and expenses are translated at average rates of exchange prevailing during the year. Any translation adjustments are reflected as a separate component of stockholders’ equity (deficit) and have no effect on current earnings. Gains and losses resulting from foreign currency transactions are included in current results of operations. During the nine months ended September 30, 2017 and 2016, the Company had aggregate foreign currency translation gain (losses) of $(311,348) and $183,595, respectively.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments purchased with an original maturity of six months or less to be cash equivalents.
Accounts Receivable	Accounts Receivable Accounts receivable are stated at the amount the Company expects to collect. The Company maintains allowances for doubtful accounts for estimated losses resulting from the inability of its customers to make required payments. Management considers the following factors when determining the collectability of specific customer accounts: customer credit-worthiness, past transaction history with the customer, current economic industry trends, and changes in customer payment terms. Past due balances over 90 days and other higher risk amounts are reviewed individually for collectability. If the financial condition of the Company’s customers were to deteriorate, adversely affecting their ability to make payments, additional allowances would be required. Based on management’s assessment, the Company provides for estimated uncollectible amounts through a charge to earnings and a credit to a valuation allowance. Balances that remain outstanding after the Company has used reasonable collection efforts are written off through a charge to the valuation allowance and a credit to accounts receivable. As of September 30, 2017 and December 31, 2016, the Company fully reserved the accounts receivable of $181,391 and $177,087, respectively, for doubtful accounts.
Property, Plant and Equipment	Property, plant and Equipment Property, plant and equipment is stated at the historical cost, less accumulated depreciation. Depreciation on property, plant and equipment is provided using the straight-line method over the estimated useful lives of the assets for both financial and income tax reporting purposes as follows: Buildings 20 years Motor vehicles 5 years Production and office Equipment 5 years Expenditures for normal repairs and maintenance are charged to expense as incurred. Significant renewals and improvements are capitalized. The costs and related accumulated depreciation of assets retired or otherwise disposed of are eliminated from the accounts, and any resulting gain or loss is recognized in the year of disposal.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets Management reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount may not be realizable or at a minimum annually during the fourth quarter of the year. If an evaluation is required, the estimated future undiscounted cash flows associated with the asset are compared to the asset’s carrying value to determine if an impairment of such asset is necessary. The effect of any impairment would be to expense the difference between the fair value of such asset and its carrying value.
Income Taxes	Income Taxes An asset and liability approach is used for financial accounting and reporting for income taxes. Deferred income taxes arise from temporary differences between income tax and financial reporting and principally relate to recognition of revenue and expenses in different periods for financial and tax accounting purposes and are measured using currently enacted tax rates and laws. In addition, a deferred tax asset can be generated by net operating loss carry forwards. If it is more likely than not that some portion or all of a deferred tax asset will not be realized, a valuation allowance is recognized. The Company has tax losses that may be applied against future taxable income. The potential tax benefit arising from these loss carryforwards are offset by a valuation allowance due to uncertainty of profitable operations in the future.
Fair Values of Financial Instruments	Fair Values of Financial Instruments Management believes that the carrying amounts of the Company’s financial instruments, consisting primarily of cash, account receivable and accounts payable, approximated their fair values as of September 30, 2017 and December 31, 2016, due to their short-term nature.
Non-controlling Interests	Non-controlling Interests Non-controlling interests in the Company’s subsidiaries are reported as a component of equity, separate from the parent’s equity. Purchase or sale of equity interests that do not result in a change of control are accounted for as equity transactions. Results of operations attributable to the minority interest are included in our consolidated results of operations and, upon loss of control, the interest sold, as well as interest retained, if any, will be reported at fair value with any gain or loss recognized in earnings.
Basic and Diluted Earnings (Loss) Per Common Share	Basic and Diluted Earnings (Loss) Per Common Share The basic net loss per common share is computed by dividing the net loss by the weighted average number of common shares outstanding. Diluted net loss per common share is computed by dividing the net loss adjusted on an “as converted” basis, by the weighted average number of common shares outstanding plus potential dilutive securities. For all periods presented, there were no potentially dilutive securities outstanding.
Subsequent Events	Subsequent Events The Company evaluated events subsequent to September 30, 2017 through the date the financial statements were issued for disclosure consideration.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In August 2014, the FASB issued ACU 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. The new standard requires management to assess the company’s ability to continue as a going concern. Disclosures are required if there is substantial doubt as to the company’s continuation as a going concern within one year after the issue date of financial statements. The standard provides guidance for making the assessment, including consideration of management’s plans which may alleviate doubt regarding the Company’s ability to continue as a going concern. ASU 2014-15 is effective for years ending after December 15, 2016. The Company adopted this standard for the year ending December 31, 2016, and management has concluded that there is substantial doubt as to the Company’s continuation as a going concern within one year after the issuance date of the financial statements.

Summary of Significant Accoun16

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Schedule of property and equipment	Property, plant and equipment is stated at the historical cost, less accumulated depreciation. Depreciation on property, plant and equipment is provided using the straight-line method over the estimated useful lives of the assets for both financial and income tax reporting purposes as follows: Buildings 20 years Motor vehicles 5 years Production and office Equipment 5 years

Property, plant and Equipment (

Property, plant and Equipment (Tables)	9 Months Ended
	Sep. 30, 2017
Property, Plant and Equipment [Abstract]
Schedule of property and equipment	Property, plant and equipment consisted of the following as of: September 30, December 31, 2017 2016 Buildings $ 1,279,319 $ 1,225,448 Motor vehicles 60,460 57,914 Production and office equipment 1,253,190 1,200,419 Construction in progress 161,230 154,441 Subtotal 2754,199 2,638,222 Less: Accumulated depreciation (1,116,996 ) (1,069,960 ) Less: Impairment of long-lived assets (1,637,203 ) (1,568,262 ) Property, plant and equipment, net $ - $ -

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2017
Related Party Transactions [Abstract]
Schedule of short-term debt	As of September 30, 2017 and December 31, 2016, the Company had short-term debts to related parties of $3,865,071 and $3,642,110, respectively. The details of the loans are described as below. At September 30, Name Relationship to the Company Amount Interest Rate Start Date Maturity Shor-term debt Wei De Gang CEO & Legal person of JXZD $ 2,702,373 15% May 31, 2011 May 31, 2014 Zhao Yan Ling Former office manager of JXZD, wife of Zhou Zhi Bin 15,782 15% January 1, 2011 December 31, 2013 Zhou Zhi Bin Former CEO & Legal person of JXZD 7,515 15% January 1, 2011 December 31, 2013 Tang Yong Hong Manager of JXZD 323,525 15% February 28, 2015 February 28, 2016 Yan Chun Yan Accountant of JXZD 8,588 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 300,600 15% December 18, 2012 December 18, 2015 Total $ 3,865,071 At December 31, 2016: Annual Name Relationship to the Company Amount Interest Rate Start Date Maturity Shor-term debt Wei De Gang CEO & Legal Person of JXZD $ 2,588,518 15% May 31, 2011 May 31, 2014 Zhao Yan Ling Former Office Manager in JXZD, wife of Zhou Zhi Bin 15,117 15% January 1, 2011 December 31, 2013 Zhou Zhi Bin Former CEO & Legal Person of JXZD 7,200 15% January 1, 2011 December 31, 2013 Tang Yong Hong Manager of JXZD 309,901 15% February 28, 2015 February 28, 2016 Yan Chun Yan Accountant of JXZD 6,686 15% August 31, 2014 August 31, 2015 Wen Mei Tu President & shareholder of ZDRI 331,800 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. Owned by Wen Mei Tu’s brother-in-law 6,000 12% May 22, 2015 July 19, 2016 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 288,000 15% December 18, 2012 December 18, 2015 Total $ 3,642,110

Description of Business (Detail

Description of Business (Details Narrative)	Sep. 30, 2017
Zhen Ding JV [Member]
Ownership percentage	70.00%
Zhen Ding Corporation [Member]
Ownership percentage	100.00%
Other Partners [Member]
Ownership percentage	30.00%

Summary of Significant Accoun20

Summary of Significant Accounting Policies (Details)	9 Months Ended
	Sep. 30, 2017
Buildings [Member]
Property and Equipment useful life	20 years
Motor Vehicles [Member]
Property and Equipment useful life	5 years
Production and Office Equipment [Member]
Property and Equipment useful life	5 years

Summary of Significant Accoun21

Summary of Significant Accounting Policies (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Accounting Policies [Abstract]
Foreign currency translation gain (losses)	$ (137,514)	$ 22,088	$ (311,348)	$ 183,595
Allowances for doubtful accounts	$ 181,391		$ 181,391		$ 177,087

Going Concern (Details Narrativ

Going Concern (Details Narrative) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficit	$ (18,932,930)	$ (18,530,405)
Working capital deficit	$ 8,406,366

VAT Receivables (Details Narrat

VAT Receivables (Details Narrative) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Receivables [Abstract]
VAT receivable	$ 161,000	$ 161,000

Property, plant and Equipment24

Property, plant and Equipment (Details) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Property, plant and equipment, gross	$ 2,754,199	$ 2,638,222
Less: Accumulated depreciation	(1,116,996)	(1,069,960)
Less: Impairment of long-lived assets	(1,637,203)	(1,568,262)
Property, plant and equipment, net
Buildings [Member]
Property, plant and equipment, gross	1,279,319	1,225,448
Motor Vehicles [Member]
Property, plant and equipment, gross	60,460	57,914
Production and Office Equipment [Member]
Property, plant and equipment, gross	1,253,190	1,200,419
Construction in Progress [Member]
Property, plant and equipment, gross	$ 161,230	$ 154,441

Property, plant and Equipment25

Property, plant and Equipment (Details Narrative) - USD ($)	9 Months Ended		12 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 0	$ 0
Impairment loss on the assets			$ 1,800,000
Impaired long-lived asset			$ 1,500,000

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Amount	$ 3,865,071	$ 3,642,110
Wei De Gang [Member]
Relationship to the Company	CEO & Legal Person of JXZD	CEO & Legal Person of JXZD
Amount	$ 2,702,373	$ 2,588,518
Annual Interest Rate	15.00%	15.00%
Start Date	May 31, 2011	May 31, 2011
Maturity	May 31, 2014	May 31, 2014
Zhao Yan Ling [Member]
Relationship to the Company	Former office manager of JXZD, wife of Zhou Zhi Bin	Former Office Manager in JXZD, wife of Zhou Zhi Bin
Amount	$ 15,782	$ 15,117
Annual Interest Rate	15.00%	15.00%
Start Date	January 1, 2011	January 1, 2011
Maturity	December 31, 2013	December 31, 2013
Zhou Zhi Bin [Member]
Relationship to the Company	Former CEO & Legal Person of JXZD	Former CEO & Legal Person of JXZD
Amount	$ 7,515	$ 7,200
Annual Interest Rate	15.00%	15.00%
Start Date	January 1, 2011	January 1, 2011
Maturity	December 31, 2013	December 31, 2013
Tang Yong Hong [Member]
Relationship to the Company	Manager of JXZD	Manager of JXZD
Amount	$ 323,525	$ 309,901
Annual Interest Rate	15.00%	15.00%
Start Date	February 28, 2015	February 28, 2015
Maturity	February 28, 2016	February 28, 2016
Yan Chun Yan [Member]
Relationship to the Company	Accountant of JXZD	Accountant of JXZD
Amount	$ 8,588	$ 6,686
Annual Interest Rate	15.00%	15.00%
Start Date	August 31, 2014	August 31, 2014
Maturity	August 31, 2015	August 31, 2015
Wen Mei Tu [Member]
Relationship to the Company	President & shareholder of ZDRI	President & shareholder of ZDRI
Amount	$ 370,800	$ 331,800
Annual Interest Rate	12.00%	12.00%
Start Date	Various	Various
Maturity	Various	Various
Importation Tresor Plus Inc [Member]
Relationship to the Company	Shareholder of ZDRI	Shareholder of ZDRI
Amount	$ 30,000	$ 30,000
Annual Interest Rate	12.00%	12.00%
Start Date	July 9, 2012	July 9, 2012
Maturity	July 12, 2013	July 12, 2013
Tony Ng Man Kin [Member]
Relationship to the Company	Shareholder of ZDRI	Shareholder of ZDRI
Amount	$ 25,000	$ 25,000
Annual Interest Rate	12.00%	12.00%
Start Date	February 27, 2013	February 27, 2013
Maturity	February 27, 2014	February 27, 2014
Wai Tai Trading Inc [Member]
Relationship to the Company	Shareholder of ZDRI	Shareholder of ZDRI
Amount	$ 12,000	$ 12,000
Annual Interest Rate	12.00%	12.00%
Start Date	June 3, 2015	June 3, 2015
Maturity	September 3, 2015	September 3, 2015
JYS Technologies Inc [Member]
Relationship to the Company	Wen Mei Tu’s brother in law owned	Owned by Wen Mei Tu’s brother-in-law
Amount	$ 6,000	$ 6,000
Annual Interest Rate	12.00%	12.00%
Start Date	May 22, 2015	May 22, 2015
Maturity	July 19, 2016	July 19, 2016
Philip Pak [Member]
Relationship to the Company	Shareholder of ZDRI
Amount	$ 41,000
Annual Interest Rate	12.00%
Start Date	Various
Maturity	Various
Victor Sun [Member]
Relationship to the Company	Consultant & shareholder of ZDRI	Consultant & shareholder of ZDRI
Amount	$ 3,923	$ 3,923
Annual Interest Rate	0.00%	0.00%
Start Date	January 1, 2013	January 1, 2013
Maturity	On Demand	On Demand
Helen Chen [Member]
Relationship to the Company	President of Z&W CA	President of Z&W CA
Amount	$ 17,965	$ 17,965
Annual Interest Rate	0.00%	0.00%
Start Date	January 1, 2011	January 1, 2011
Maturity	On Demand	On Demand
Zhou Qiang [Member]
Relationship to the Company	Office manager of JXZD	Office manager of JXZD
Amount	$ 300,600	$ 288,000
Annual Interest Rate	15.00%	15.00%
Start Date	December 18, 2012	December 18, 2012
Maturity	December 18, 2015	December 18, 2015

Related Party Transactions (D27

Related Party Transactions (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Due to related parties	$ 809,134		$ 809,134		$ 749,219
Short-term debt-related parties	3,865,071		3,865,071		3,642,110
Accrued interest-related parties	3,268,570		3,268,570		2,737,056
Interest expenses	142,756	$ 132,475	413,377	$ 409,434
Xinzhou Gold Co Ltd [Member]
Due to related parties	$ 809,134		$ 809,134		$ 749,219

Deferred Revenues (Details Narr

Deferred Revenues (Details Narrative) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Deferred Revenue Disclosure [Abstract]
Deferred revenue	$ 151,297	$ 144,926

Income Taxes (Details Narrative

Income Taxes (Details Narrative)	9 Months Ended
	Sep. 30, 2017USD ($)
Income Tax Disclosure [Abstract]
Net operating loss carryforwards	$ 19,000,000
Net operating loss carryforwards expiration date	Dec. 31, 2035
Statutory rate	25.00%