Zhen Ding Resources (RBTK) 10-Q 14 Nov 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2019	Nov. 14, 2019
Document And Entity Information
Entity Registrant Name	ZHEN DING RESOURCES INC.
Entity Central Index Key	0001594204
Document Type	10-Q
Document Period End Date	Sep. 30, 2019
Amendment Flag	false
Entity Incorporation, State or Country Code	DE
Entity File Number	333-188152
Current Fiscal Year End Date	--12-31
Title of 12(b) Security	Common Stock
Trading Symbol	RBTK
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		63,968,798
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2019

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Current Assets:
Cash and cash equivalents	$ 6,095	$ 5,931
Other receivables		881
Total current assets	6,095	6,812
Current Liabilities:
Accounts payable and accrued liabilities	650,445	604,396
Accounts payable and accrued liabilities-related parties	3,790,757	3,572,385
Deferred revenue	126,929	131,824
Due to related parties	749,078	777,942
Short-term debt	136,000	72,500
Short-term debt-related parties	3,627,494	3,747,273
Total current liabilities	9,080,703	8,906,320
Stockholders' 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 income	720,005	504,405
Accumulated deficit	(19,892,946)	(19,518,729)
Total deficit attributable to Zhen Ding Resources Inc.	(6,409,100)	(6,250,483)
Non-controlling interests	(2,665,508)	(2,649,025)
Total Stockholders' deficit	(9,074,608)	(8,899,508)
Total liabilities and Stockholders' deficit	$ 6,095	$ 6,812

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Common stock, authorized	150,000,000	150,000,000
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
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, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Operating expenses:
General and administrative	$ 17,089	$ 18,040	$ 68,328	$ 58,566
Total operating expenses	17,089	18,040	68,328	58,566
Operating loss	(17,089)	(18,040)	(68,328)	(58,566)
Other expenses
Interest expenses	133,658	132,401	414,838	425,656
Other (income) Expense	(67)	890	(67)	(22,620)
Total expenses	(150,680)	(151,331)	(483,099)	(461,602)
Net loss	(150,680)	(151,331)	(483,099)	(461,602)
Loss attributable to non-controlling interests	34,751	35,245	108,882	107,254
Net loss attributable to Zhen Ding Resources Inc.	$ (115,929)	$ (116,086)	$ (374,217)	$ (354,348)
Basic and diluted loss per common share (in dollars per share)	$ 0	$ 0	$ 0	$ (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	$ (150,680)	$ (151,331)	$ (483,099)	$ (461,602)
Other comprehensive (loss) income:
Foreign currency translation adjustments	(299,658)	283,981	(307,999)	426,003
Total comprehensive (loss) income	(450,338)	132,650	(791,098)	(35,599)
Comprehensive (loss) income attributable to non-controlling interest	(60,151)	(49,991)	16,483	(20,589)
Comprehensive (loss) income attributable to Zhen Ding Resources Inc.	$ (510,489)	$ 82,659	$ (774,615)	$ (56,188)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Cash flows from operating activities
Net loss	$ (483,099)	$ (461,602)
Adjustment to reconcile net loss to net cash used in operating activities:
Other receivables	881	(16,552)
Accounts payable and accrued liabilities	46,049	(1,749)
Accounts payable and accrued liabilities-related parties	218,372	425,392
Deferred revenue	(4,895)	(15,080)
Due to related parties	(28,864)
Net cash used in operating activities	(251,556)	(69,591)
Cash flows from financing activities
Proceeds from borrowings on short-term debt	63,500	72,500
Proceeds from borrowings on short-term debt - related parties	(119,779)	22,198
Repayment of borrowings on short-term debt - related parties		(9,175)
Net cash provided by financing activities	(56,279)	85,523
Foreign currency translation	307,999	(38)
Net change in cash	164	15,894
Cash and cash equivalents - beginning of the period	5,931	7,669
Cash and cash equivalents - end of the period	6,095	23,563
Supplemental cash flow information:
Cash paid for interest
Cash paid for income tax

Consolidated Statement of Stock

Consolidated Statement of Stockholders' Deficit (unaudited) - USD ($)	Common Stock [Member]	Additional Paid in Capital [Member]	Subscriptions Receivable [Member]	Accumulated Other Comprehensive Income [Member]	Accumulated Deficit [Member]	Non-controlling Interest [Member]	Total
Balance at beginning at Dec. 31, 2017	$ 6,397	$ 12,762,875	$ (5,431)	$ 193,802	$ (19,011,152)	$ (2,624,988)	$ (8,678,497)
Balance at beginning (in shares) at Dec. 31, 2017	63,968,798
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Foreign currency translation adjustment				(203,198)		(87,025)	(290,233)
Net loss					(118,027)	(39,953)	(157,980)
Balance at ending at Mar. 31, 2018	$ 6,397	12,762,875	(5,431)	(9,396)	(19,129,179)	(2,751,966)	(9,126,700)
Balance at ending (in shares) at Mar. 31, 2018	63,968,798
Balance at beginning at Dec. 31, 2017	$ 6,397	12,762,875	(5,431)	193,802	(19,011,152)	(2,624,988)	(8,678,497)
Balance at beginning (in shares) at Dec. 31, 2017	63,968,798
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss							(461,602)
Balance at ending at Sep. 30, 2018	$ 6,397	12,762,875	(5,431)	491,962	(19,365,500)	(2,604,399)	(8,417,096)
Balance at ending (in shares) at Sep. 30, 2018	63,968,798
Balance at beginning at Mar. 31, 2018	$ 6,397	12,762,875	(5,431)	(9,396)	(19,129,179)	(2,751,966)	(9,126,700)
Balance at beginning (in shares) at Mar. 31, 2018	63,968,798
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Foreign currency translation adjustment				302,849		129,278	432,127
Net loss					(136,692)	(38,594)	(175,286)
Balance at ending at Jun. 30, 2018	$ 6,397	12,762,875	(5,431)	293,453	(19,265,871)	(2,661,282)	(8,869,859)
Balance at ending (in shares) at Jun. 30, 2018	63,968,798
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Foreign currency translation adjustment				198,509		85,075	283,584
Net loss					(99,629)	(28,192)	(151,331)
Balance at ending at Sep. 30, 2018	$ 6,397	12,762,875	(5,431)	491,962	(19,365,500)	(2,604,399)	(8,417,096)
Balance at ending (in shares) at Sep. 30, 2018	63,968,798
Balance at beginning at Dec. 31, 2018	$ 6,397	12,762,875	(5,431)	504,405	(19,518,729)	(2,649,025)	(8,899,508)
Balance at beginning (in shares) at Dec. 31, 2018	63,968,798
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Foreign currency translation adjustment				(139,260)		(59,683)	(198,943)
Net loss					(128,744)	(37,366)	(166,140)
Balance at ending at Mar. 31, 2019	$ 6,397	12,762,875	(5,431)	365,145	(19,647,503)	(2,746,074)	(9,264,591)
Balance at ending (in shares) at Mar. 31, 2019	63,968,798
Balance at beginning at Dec. 31, 2018	$ 6,397	12,762,875	(5,431)	504,405	(19,518,729)	(2,649,025)	(8,899,508)
Balance at beginning (in shares) at Dec. 31, 2018	63,968,798
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss							(483,099)
Balance at ending at Sep. 30, 2019	$ 6,397	12,762,875	(5,431)	720,005	(19,892,946)	(2,665,508)	(9,074,608)
Balance at ending (in shares) at Sep. 30, 2019	63,968,798
Balance at beginning at Mar. 31, 2019	$ 6,397	12,762,875	(5,431)	365,145	(19,647,503)	(2,746,074)	(9,264,591)
Balance at beginning (in shares) at Mar. 31, 2019	63,968,798
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Foreign currency translation adjustment				133,422		57,180	(190,602)
Net loss					(129,514)	(36,765)	(166,279)
Balance at ending at Jun. 30, 2019	$ 6,397	12,762,875	(5,431)	498,567	(19,777,017)	(2,725,659)	(9,240,268)
Balance at ending (in shares) at Jun. 30, 2019	63,968,798
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Foreign currency translation adjustment				221,438		94,902	316,340
Net loss					(115,929)	(34,751)	(150,680)
Balance at ending at Sep. 30, 2019	$ 6,397	$ 12,762,875	$ (5,431)	$ 720,005	$ (19,892,946)	$ (2,665,508)	$ (9,074,608)
Balance at ending (in shares) at Sep. 30, 2019	63,968,798

Description of Business

Description of Business	9 Months Ended
	Sep. 30, 2019
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 indirectly owns 70% of a Chinese Joint Venture entity, Zhen Ding Mining Co. Ltd. (“Zhen Ding JV” or “JXZD”). This indirect ownership is through a 100% ownership of a California company Z&W, Zhen Ding Corporation (“Z&W CA”). Our Company, through 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. In 2017, the Company shut down its mineral processing plant in China due to insufficient working capital. 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, 2019
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 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”). 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. Interim Financial Statements These unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“US GAAP”) for interim financial information and with the instructions to Form 10-Q and Regulation S-X. Accordingly, the consolidated financial statements do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation have been included and such adjustments are of a normal recurring nature. These consolidated financial statements should be read in conjunction with the consolidated financial statements for the year ended December 31, 2018 and notes thereto and other pertinent information contained in our Form 10-K the Company has filed with the Securities and Exchange Commission (the “SEC”) on April 16, 2019. The results of operations for the three and nine months ended September 30, 2019, are not necessarily indicative of the results to be expected for the full fiscal year ending December 31, 2019. 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 periods ended September 30, 2019 and 2018, the Company had aggregate foreign currency translation gains (loss) of ($307,999) and $426,003, respectively. Cash and Cash Equivalents The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. 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, other receivable, due to related parties, short term debt and short term debt – related parties, approximated their fair values as of September 30, 2019 and December 31, 2018, 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. Reclassifications Certain prior-period amounts in the consolidated financial statements and notes thereto, have been reclassified to conform to the current period presentation. These changes had no impact on the previously reported consolidated results of operations, total assets, total liabilities, stockholders’ equity or cash flow subtotals Subsequent Events The Company evaluated events subsequent to September 30, 2019 through the date the financial statements were issued for disclosure consideration. Recently Issued Accounting Pronouncements In February 2016, FASB issued ASU No. 2016-02 Leases

Going Concern

Going Concern	9 Months Ended
	Sep. 30, 2019
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, 2019, the Company had accumulated losses of $19,892,946 since inception and had a working capital deficit of $9,074,608. 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.

Short-Term Debt

Short-Term Debt	9 Months Ended
	Sep. 30, 2019
Short-term Debt [Abstract]
Short Term Debt	Note 4. Short-Term Debt The following table represents the details of the short-term debts at September 30, 2019: Issuance date Maturity Interest Rate Amount January 31, 2018 January 31, 2019 * 1% per month $ 27,500 May 18, 2018 May 18, 2019 * 1% per month 25,000 September 14, September 13, 2019 1% per month 20,000 January 21, 2019 January 20, 2020 1% per month 20,000 February 12, 2019 February 11, 2020 1% per month 10,000 April 26, 2019 April 25, 2020 1% per month 15,000 June 28, 2019 June 28, 2020 1% per month 18,500 136,000 According to the loan agreements, there is not any additional interest and penalty for the loans passing maturity date. During the nine months ended September 30, 2019, the Company recorded interest expense and accrued interest of $10,048.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2019
Related Party Transactions [Abstract]
Related Party Transactions	Note 5. Related Party Transactions Accounts payable As of September 30, 2019 and December 31, 2018, the Company had payables of $749,078 and $777,942, respectively, to Xinzhou Gold. These payables bear no interest, are unsecured and are due on demand. Short-term debt As of September 30, 2019 and December 31, 2018, the Company had short-term debts to related parties of $3,627,494 and $3,747,273, respectively. The details of the loans are described as below. At September 30, 2019: Name Relationship to the Company Amount Interest Rate Start Date Maturity Shor-term debt Wei De Gang CEO & Legal person of JXZD $ 2,517,178 15 % May 31, 2011 May 31, 2014 Zhao Yan Ling Former office manager of JXZD, wife of Zhou Zhi Bin 14,700 15 % January 1, 2011 December 31, 2013 Zhou Zhi Bin Former CEO & Legal person of JXZD 7,000 15 % January 1, 2011 December 31, 2013 Tang Yong Hong Manager of JXZD 301,759 15 % February 28, 2015 February 28, 2016 Yan Chun Yan Accountant of JXZD 169 15 % August 31, 2014 August 31, 2015 Wen Mei Tu President & shareholder of ZDRI 370,800 12 % Various Various Importation Shareholder of ZDRI 30,000 12 % July 9, 2012 July 12, 2013 Tony Ng Man Shareholder of ZDRI 25,000 12 % February 27, 2013 February 27, 2014 Wei Tai Trading Shareholder of ZDRI 12,000 12 % June 3, 2015 September 3, 2015 JYS Technologies 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 280,000 15 % December 18, 2012 December 18, 2015 Total $ 3,627,494 At December 31, 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 $ 2,614,271 15 % May 31, 2011 May 31, 2014 Zhao Yan Ling Former office manager of JXZD, wife of Zhou Zhi Bin 15,267 15 % January 1, 2011 December 31, 2013 Zhou Zhi Bin Former CEO & Legal person of JXZD 7,270 15 % January 1, 2011 December 31, 2013 Tang Yong Hong Manager of JXZD 312,977 15 % February 28, 2015 February 28, 2016 Wen Mei Tu President & shareholder of ZDRI 370,800 12 % Various Various Importation Shareholder of ZDRI 30,000 12 % July 9, 2012 July 12, 2013 Tony Ng Man Shareholder of ZDRI 25,000 12 % February 27, 2013 February 27, 2014 Wei Tai Trading Shareholder of ZDRI 12,000 12 % June 3, 2015 September 3, 2015 JYS Technologies 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 debts – related parties Zhou Qiang Office manager of JXZD 290,800 15 % December 18, 2012 December 18, 2015 Total $ 3,747,273 As of September 30, 2019 and December 31, 2018, the Company had accrued interest payable to the related parties of $3,790,757 and $3,572,385, respectively. For the periods ended September 30, 2019 and 2018, the Company recorded interest expense of $414,838 and $378,681, respectively. The Company has received no demands for repayment of matured debt instruments.

Deferred Revenues

Deferred Revenues	9 Months Ended
	Sep. 30, 2019
Deferred Revenue Disclosure [Abstract]
Deferred Revenues	Note 6. Deferred Revenues As of September 30, 2019 and December 31, 2018, the Company had deferred revenue of $126,929 and $131,824 related to receipts of payment for unprocessed ore from Xinzhou Gold Co. Ltd, respectively, related to advances that the Company received from its customers. The Company has received no demands for repayment of deferred revenues.

Contingencies

Contingencies	9 Months Ended
	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Note 7. Contingencies Concentration of Credit Risk 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. On December 22, 2017, new federal tax reform legislation was enacted in the United States (the “2017 Tax Act”), resulting in significant changes from previous tax law. The 2017 Tax Act reduces the federal corporate income tax rate to 21% from 35% effective January 1, 2018. 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 enterprise income tax rate and has also incurred operating losses since its inception. As of September 30, 2019, the Company had net operating losses (“NOL”) carryforwards of approximately $20 million. The NOL carryforwards expire between fiscal year 2018 through 2035. The value of these carryforwards depends on the Company’s ability to generate taxable income. Tax laws in both China and United States limit the time during which the net operating loss carryforwards may be applied against future taxes, if the Company fails to generate taxable income prior to the expiration dates, the Company may not be able to fully utilize the net operating loss carryforwards to reduce future income taxes. The Company has had cumulative losses and there is no assurance of future taxable income; therefore, valuation allowances have been recorded to fully offset the deferred tax asset at September 30, 2019 and December 31, 2018.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The accompanying 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”). 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.
Interim Financial Statements	Interim Financial Statements These unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“US GAAP”) for interim financial information and with the instructions to Form 10-Q and Regulation S-X. Accordingly, the consolidated financial statements do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation have been included and such adjustments are of a normal recurring nature. These consolidated financial statements should be read in conjunction with the consolidated financial statements for the year ended December 31, 2018 and notes thereto and other pertinent information contained in our Form 10-K the Company has filed with the Securities and Exchange Commission (the “SEC”) on April 16, 2019. The results of operations for the three and nine months ended September 30, 2019, are not necessarily indicative of the results to be expected for the full fiscal year ending December 31, 2019.
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 periods ended September 30, 2019 and 2018, the Company had aggregate foreign currency translation gains (loss) of ($307,999) and $426,003, respectively.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.
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, other receivable, due to related parties, short term debt and short term debt – related parties, approximated their fair values as of September 30, 2019 and December 31, 2018, 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.
Reclassifications	Reclassifications Certain prior-period amounts in the consolidated financial statements and notes thereto, have been reclassified to conform to the current period presentation. These changes had no impact on the previously reported consolidated results of operations, total assets, total liabilities, stockholders’ equity or cash flow subtotals
Subsequent Events	Subsequent Events The Company evaluated events subsequent to September 30, 2019 through the date the financial statements were issued for disclosure consideration.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In February 2016, FASB issued ASU No. 2016-02 Leases

Short-Term Debt (Tables)

Short-Term Debt (Tables)	9 Months Ended
	Sep. 30, 2019
Short-term Debt [Abstract]
Schedule of short-term debts	The following table represents the details of the short-term debts at September 30, 2019: Issuance date Maturity Interest Rate Amount January 31, 2018 January 31, 2019 * 1% per month $ 27,500 May 18, 2018 May 18, 2019 * 1% per month 25,000 September 14, September 13, 2019 1% per month 20,000 January 21, 2019 January 20, 2020 1% per month 20,000 February 12, 2019 February 11, 2020 1% per month 10,000 April 26, 2019 April 25, 2020 1% per month 15,000 June 28, 2019 June 28, 2020 1% per month 18,500 136,000

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2019
Related Party Transactions [Abstract]
Schedule of short-term debts to related parties	The details of the loans are described as below. At September 30, 2019: Name Relationship to the Company Amount Interest Rate Start Date Maturity Shor-term debt Wei De Gang CEO & Legal person of JXZD $ 2,517,178 15 % May 31, 2011 May 31, 2014 Zhao Yan Ling Former office manager of JXZD, wife of Zhou Zhi Bin 14,700 15 % January 1, 2011 December 31, 2013 Zhou Zhi Bin Former CEO & Legal person of JXZD 7,000 15 % January 1, 2011 December 31, 2013 Tang Yong Hong Manager of JXZD 301,759 15 % February 28, 2015 February 28, 2016 Yan Chun Yan Accountant of JXZD 169 15 % August 31, 2014 August 31, 2015 Wen Mei Tu President & shareholder of ZDRI 370,800 12 % Various Various Importation Shareholder of ZDRI 30,000 12 % July 9, 2012 July 12, 2013 Tony Ng Man Shareholder of ZDRI 25,000 12 % February 27, 2013 February 27, 2014 Wei Tai Trading Shareholder of ZDRI 12,000 12 % June 3, 2015 September 3, 2015 JYS Technologies 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 280,000 15 % December 18, 2012 December 18, 2015 Total $ 3,627,494 At December 31, 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 $ 2,614,271 15 % May 31, 2011 May 31, 2014 Zhao Yan Ling Former office manager of JXZD, wife of Zhou Zhi Bin 15,267 15 % January 1, 2011 December 31, 2013 Zhou Zhi Bin Former CEO & Legal person of JXZD 7,270 15 % January 1, 2011 December 31, 2013 Tang Yong Hong Manager of JXZD 312,977 15 % February 28, 2015 February 28, 2016 Wen Mei Tu President & shareholder of ZDRI 370,800 12 % Various Various Importation Shareholder of ZDRI 30,000 12 % July 9, 2012 July 12, 2013 Tony Ng Man Shareholder of ZDRI 25,000 12 % February 27, 2013 February 27, 2014 Wei Tai Trading Shareholder of ZDRI 12,000 12 % June 3, 2015 September 3, 2015 JYS Technologies 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 debts – related parties Zhou Qiang Office manager of JXZD 290,800 15 % December 18, 2012 December 18, 2015 Total $ 3,747,273

Description of Business (Detail

Description of Business (Details Narrative)	Sep. 30, 2019
Other Partners [Member]
Ownership percentage	30.00%
Zhen Ding Corporation [Member]
Ownership percentage	100.00%
Zhen Ding JV [Member]
Ownership percentage	70.00%

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Accounting Policies [Abstract]
Foreign currency translation gains	$ 299,658	$ (283,981)	$ 307,999	$ (426,003)

Going Concern (Details Narrativ

Going Concern (Details Narrative) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated losses	$ (19,892,946)	$ (19,518,729)
Working capital deficit	$ 9,074,608

Short-Term Debt (Details)

Short-Term Debt (Details) - USD ($)		9 Months Ended
		Sep. 30, 2019	Dec. 31, 2018
Amount		$ 136,000	$ 72,500
Short-Term Debt April 26, 2019 [Member]
Issuance date		April 26, 2019
Maturity		April 25, 2020
Interest Rate per month		1.00%
Amount		$ 15,000
Short-Term Debt June 28, 2019 [Member]
Issuance date		June 28, 2019
Maturity		June 28, 2020
Interest Rate per month		1.00%
Amount		$ 18,500
Short-Term Debt January 31, 2018 [Member]
Issuance date	[1]	January 31, 2018
Maturity		January 31, 2019
Interest Rate per month		1.00%
Amount		$ 27,500
Short-term Debt May 18, 2018 [Member]
Issuance date	[1]	May 18, 2018
Maturity		May 18, 2019
Interest Rate per month		1.00%
Amount		$ 25,000
Short-term Debt September 14, 2018 [Member]
Issuance date		September 14, 2018
Maturity		September 13, 2019
Interest Rate per month		1.00%
Amount		$ 20,000
Short-term Debt January 21, 2019 [Member]
Issuance date		January 21, 2019
Maturity		January 20, 2020
Interest Rate per month		1.00%
Amount		$ 20,000
Short-term Debt February 12, 2019 [Member]
Issuance date		February 12, 2019
Maturity		February 11, 2020
Interest Rate per month		1.00%
Amount		$ 10,000
[1]	According to the loan agreements, there is not any additional interest and penalty for the loans passing maturity date.

Short-Term Debt (Details Narrat

Short-Term Debt (Details Narrative)	9 Months Ended
	Sep. 30, 2019USD ($)
Short-term Debt [Abstract]
Interest expense and accrued interest	$ 10,048

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Amount	$ 3,627,494	$ 3,747,273
Wei De Gang [Member]
Relationship to the Company	CEO & Legal person of JXZD	Former CFO & Legal person of JXZD
Amount	$ 2,517,178	$ 2,614,271
Annual Interest Rate	15.00%	15.00%
Start Date	May 31, 2011	May 31, 2011
Maturity	May 31, 2014	May 31, 2014
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
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
Philip Pak [Member]
Relationship to the Company	Shareholder of ZDRI	Consultant & shareholder of ZDRI
Amount	$ 41,000	$ 41,000
Annual Interest Rate	12.00%	12.00%
Start Date	Various	Various
Maturity	Various	Various
JYS Technologies Inc [Member]
Relationship to the Company	Wen Mei Tu’s brother in law owned	Wen Mei Tu’s brother in law owned
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
Wei 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
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
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
Wen Mei Tu [Member]
Relationship to the Company	President & shareholder of ZDRI	President & shareholder of ZDRI
Amount	$ 370,800	$ 370,800
Annual Interest Rate	12.00%	12.00%
Start Date	Various	Various
Maturity	Various	Various
Tang Yong Hong [Member]
Relationship to the Company	Manager of JXZD	Manager of JXZD
Amount	$ 301,759	$ 312,977
Annual Interest Rate	15.00%	15.00%
Start Date	February 28, 2015	February 28, 2015
Maturity	February 28, 2016	February 28, 2016
Zhou Zhi Bin [Member]
Relationship to the Company	Former CEO & Legal Person of JXZD	Former CEO & Legal Person of JXZD
Amount	$ 7,000	$ 7,270
Annual Interest Rate	15.00%	15.00%
Start Date	January 1, 2011	January 1, 2011
Maturity	December 31, 2013	December 31, 2013
Zhao Yan Ling [Member]
Relationship to the Company	Former Office Manager in JXZD, wife of Zhou Zhi Bin	Former office manager of JXZD, wife of Zhou Zhi Bin
Amount	$ 14,700	$ 15,267
Annual Interest Rate	15.00%	15.00%
Start Date	January 1, 2011	January 1, 2011
Maturity	December 31, 2013	December 31, 2013
Zhou Qiang [Member]
Relationship to the Company	Office manager of JXZD	Office manager of JXZD
Amount	$ 280,000	$ 290,800
Annual Interest Rate	15.00%	15.00%
Start Date	December 18, 2012	December 18, 2012
Maturity	December 18, 2015	December 18, 2015
Yan Chun Yan [Member]
Relationship to the Company	Accountant of JXZD
Amount	$ 169
Annual Interest Rate	15.00%
Start Date	August 31, 2014
Maturity	August 31, 2015

Related Party Transactions (D_2

Related Party Transactions (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Related Party Transactions [Abstract]
Due to related parties	$ 749,078		$ 749,078		$ 777,942
Short-term debts to related parties	3,627,494		3,627,494		3,747,273
Accrued interest-related parties	3,790,757		3,790,757		$ 3,572,385
Interest expenses	$ 133,658	$ 132,401	$ 414,838	$ 425,656

Deferred Revenues (Details Narr

Deferred Revenues (Details Narrative) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Deferred Revenue Disclosure [Abstract]
Deferred revenue	$ 126,929	$ 131,824

Contingencies (Details Narrativ

Contingencies (Details Narrative)	9 Months Ended
	Sep. 30, 2019USD ($)
Previously Federal statutory corporate tax rate	21.00%
Federal statutory corporate tax rate	35.00%
Net operating losses carryforward	$ 20,000,000
Earnings of foreign subsidiaries	$ 0
State Administration of Taxation, China [Member]
Federal statutory corporate tax rate	25.00%
Minimum [Member]
NOL carryforwards expiration date	Jan. 1, 2018
Maximum [Member]
NOL carryforwards expiration date	Dec. 31, 2035