China Changjiang Mining & New Energy (CHJI) 10-Q 14 Nov 14 2014 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Sep. 30, 2014	Nov. 14, 2014
Document And Entity Information	'	'
Entity Registrant Name	'CHINA CHANGJIANG MINING & NEW ENERGY COMPANY, LTD.	'
Entity Central Index Key	'0000029952	'
Document Type	'10-Q	'
Document Period End Date	30-Sep-14	'
Amendment Flag	'false	'
Current Fiscal Year End Date	'--12-31	'
Is Entity a Well-known Seasoned Issuer	'No	'
Is Entity a Voluntary Filer	'No	'
Is Entity's Reporting Status Current	'Yes	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Common Stock, Shares Outstanding	'	64,629,559
Document Fiscal Period Focus	'Q3	'
Document Fiscal Year Focus	'2014	'

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Sep. 30, 2014	Dec. 31, 2013
ASSETS	'	'
Cash and cash equivalents(Note 3)	$95,569	$159,866
Other current assets and prepayments (Note 4)	84,877	155,564
Total Current Assets	180,446	315,430
Property, plant and equipment, net (Note 5)	333,469	378,625
Land use rights, net (Note 6)	16,408,096	16,875,045
Long-term investment (Note 7)	132,236	132,229
Due from related parties (Note 8)	6,280,523	5,486,628
TOTAL ASSETS	23,334,770	23,187,957
LIABILITIES & SHAREHOLDERS' EQUITY	'	'
Other payables and accrued liabilities (Note 9)	401,979	353,494
Total Current Liabilities	401,979	353,494
Due to related parties (Note 10)	3,463,158	3,473,437
Due to shareholders (Note 11)	3,388,182	3,418,321
Payable on acquisition of a subsidiary	2,030,252	2,049,066
Total Long-term Liabilities	8,881,592	8,940,824
SHAREHOLDERS' EQUITY	'	'
Series C convertible preferred stock ($0.01 par value, 10,000,000 shares authorized, no shares outstanding as of December 31, 2013 and September 30,2014)	'	'
Common stock ($0.01 par value, 250,000,000 shares authorized, 64,629,559 shares issued and outstanding as of December 31, 2013 and September 30,2014)	646,295	646,295
Treasury stock	-489,258	-489,258
Additional paid-in capital	13,316,682	13,316,682
Retained earnings	-3,031,892	-3,325,983
Non-controlling interests	1,088,542	1,096,769
Accumulated other comprehensive income	2,520,830	2,649,134
TOTAL SHAREHOLDERS' EQUITY	14,051,199	13,893,639
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$23,334,770	$23,187,957

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Sep. 30, 2014	Dec. 31, 2013
SHAREHOLDERS' EQUITY	'	'
Series C Convertible preferred stock, par value	$0.01	$0.01
Series C Convertible preferred stock, Authorized	10,000,000	10,000,000
Series C Convertible preferred stock, outstanding	0	0
Common stock, par value	$0.01	$0.01
Common stock, Authorized	250,000,000	250,000,000
Common stock, Issued	64,629,559	64,629,559
Common stock, outstanding	64,629,559	64,629,559

CONSOLIDATED_STATEMENTS_OF_INC

CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (LOSS) (Unaudited) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Consolidated Statements Of Income And Comprehensive Income Loss	'	'	'	'
Sales revenue - related party	$303,014	$303,091	$915,274	$904,814
Cost of revenue	16,968	16,973	51,255	50,670
Gross Profit	286,046	286,118	864,019	854,144
Operating expenses (income)	'	'	'	'
Administrative expenses	77,680	60,277	179,199	248,173
Bad debt expense	46,374	'	46,374	'
Depreciation	13,785	11,367	41,731	23,966
Amortization	103,423	103,449	312,395	308,825
Total operating expenses	241,262	175,093	579,699	580,964
Income from operations	44,784	111,025	284,320	273,180
Other Income (Expenses)	'	'	'	'
Interest income	2,325	39	2,372	12,920
Interest expenses	-100	-169	-666	-855
Other expenses	-163	-99	-163	-7,687
Total Other Income (Expense)	2,062	-229	1,543	4,378
Income(Loss) before tax	46,846	110,796	285,863	277,558
Income tax expense (benefit)	'	'	'	'
Income on continuing operations	46,846	110,796	285,863	277,558
Income(loss) on discontinued operations	'	-13,442	'	1,690,825
Net Income	46,846	97,354	285,863	1,968,383
Net income attributable to:	'	'	'	'
Non-controlling interests	-3,036	-8,150	-8,227	705,249
Common Stockholders	49,882	105,504	294,090	1,263,134
Other comprehensive income/(loss)	'	'	'	'
Foreign currency translation adjustments	-618	72,911	-128,304	317,307
Total Comprehensive Income	$46,228	$170,265	$157,559	$2,285,690
Weighted average shares-Basic	64,629,559	64,629,559	64,629,559	64,629,559
Weighted average shares-Diluted	64,629,559	64,629,559	64,629,559	64,629,559
Earnings per share,	'	'	'	'
Basic	$0	$0	$0	$0.03
Diluted	$0	$0	$0	$0.03

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES	'	'
Net income	$285,863	$1,968,383
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Income from discontinued operations	'	-1,690,825
Depreciation and amortization	354,126	332,791
Bad debt allowance	46,374	'
Changes in operating assets and liabilities:	'	'
Due from Huanghe Bay	-915,274	-904,814
Other current assets and prepayments	22,971	22,023
Other payables and accrued liabilities	51,796	103,209
CASH USED IN CONTINUING OPERARATIONS	-154,144	-169,233
CASH USED IN DISCONTINUED OPERARATIONS	'	-548,218
NET CASH USED IN OPERATING ACTIVITIES	-154,144	-717,451
CASH FLOWS FROM INVESTING ACTIVITIES	'	'
Purchase of property, plant and equipment	'	-63,706
Due from related parties	69,943	-1,080,739
CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES - CONTINUING OPERATIONS	69,943	-1,144,445
CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES - DISCONTINUED OPERATIONS	'	513,512
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES	69,943	-630,933
CASH FLOWS FROM FINANCING ACTIVITIES	'	'
Proceeds from related parties	21,641	27,478
CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES - CONTINUING OPERATIONS	21,641	27,478
CASH PROVIDED BY FINANCING ACTIVITIES - DISCONTINUED OPERATIONS	'	-72,517
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	21,641	-45,039
Effect of exchange rate changes on cash and cash equivalents	-1,737	30,517
NET INCREASE (DECREASE) IN CASH	-64,297	-1,362,906
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	159,866	1,763,381
CASH AND CASH EQUIVALENTS AT END OF PERIOD	95,569	400,475
Supplementary Disclosures for Cash Flow Information:	'	'
Interest expense paid	'	'
Income taxes paid	'	'

SUMMARY_OF_SIGNIFICANT_ACCOUNT

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2014
Notes to Financial Statements	'
Note 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'
	The accounting policies and methods followed in preparing these unaudited condensed consolidated financial statements are those used by China Changjiang Mining And New Energy company Ltd (the ‘Company’) as described in Special Notes of the notes to consolidated financial statements included in Annual Report on Form 10-K for the year ended December 31, 2013. The unaudited condensed consolidated financial statements for the nine-month period ended September 30, 2014 and 2013 have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission and do not conform in all respects to the disclosure and information that is required for annual consolidated financial statements. The year-end condensed consolidated balance sheet data was derived from audited consolidated financial statements, but does not include all disclosure required by accounting principles generally accepted in the United States of America. These interim condensed consolidated financial statements should be read in conjunction with the most recent annual consolidated financial statements of the Company.
	In the opinion of management, all adjustments, all of which are of a normal recurring nature, considered necessary for fair statement have been included in these interim condensed consolidated financial statements. Operating results for the nine-month period ended September 30, 2014 are not indicative of the results that may be expected for the full year ending December 31, 2014.
	(a) Going Concern
	The Company incurred net income of $285, 863 for the nine months ended September 30, 2014 and had an accumulated deficit of approximately $3.03 million as of September 30, 2014. In addition, the Company had a working capital deficit of $221,533 as of September 30, 2014. The Company has cash and cash equivalents balance of $95,569 and net cash used in operating activities amounted to $154,144. If the Company cannot generate enough cash flow from its operating activities, it will need to consider other financing methods such as borrowing from banking institutions or raising additional capital through new equity issuance. There are no assurances that additional funds will be available when needed from any source or, if available, will be available on terms that are acceptable to us. The Company plans to continue to control its administrative expenses in the coming periods as well as further develop its sales from its main business.
	(b) Foreign Currency Translation
	Exchange rates applied for the foreign currency translation during the period are as follows:
	USD to RMB
		September 30,		December 31,
		2014		2013
	Period end USD : RMB exchange rate		6.1534		6.0969
	Average periodic USD : RMB exchange rate		6.1457		6.1912
	USD to HKD
		September 30,		December 31,
		2014		2013
	Period end USD : HKD exchange rate		7.7635		7.7555
	Average periodic USD : HKD exchange rate		7.7543		7.7542
	HKD is pegged to USD and hence there is no significant translation adjustment impact on these consolidated financial statements.
	RMB is not freely convertible into foreign currency and all foreign exchange transactions must take place through authorized institutions. No representation is made that the RMB amounts could have been, or could be, converted into USD at the rates used in translation.
	(c) Earning/Loss per share
	Basic earning/loss per share is computed by dividing earning/loss available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earning/loss per share is computed in a manner similar to basic earning/loss per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive.
	(d) Discontinued operations
	As of September 30, 2014, the Company completed the sale of Shaanxi East Mining Co., Ltd (“East Mining”). In accordance with FASB ASC 360-10-Accounting for the Impairment or Disposal of Long-lived Assets, the results of operations of this divestiture have been reflected as discontinued operations. See Note 13 for additional information regarding discontinued operations.

RECLASSIFICATIONS

RECLASSIFICATIONS	9 Months Ended
	Sep. 30, 2014
Notes to Financial Statements	'
Note 2 - RECLASSIFICATIONS	'
	Certain prior year amounts have been reclassified to conform to the current period presentation. These reclassifications had no impact on net earnings and financial position.

CASH_AND_CASH_EQUIVALENTS

CASH AND CASH EQUIVALENTS	9 Months Ended
	Sep. 30, 2014
Notes to Financial Statements	'
Note 3 - CASH AND CASH EQUIVALENTS	'
	Short-term financial instruments of $81,256 (RMB500,000), included in the total cash and cash equivalents balance of $95,569, covers the period from September 10, 2014 to December 10, 2014, with a determined collectible amount.

OTHER_CURRENT_ASSETS_AND_PREPA

OTHER CURRENT ASSETS AND PREPAYMENTS	9 Months Ended
	Sep. 30, 2014
Notes to Financial Statements	'
Note 4 - OTHER CURRENT ASSETS AND PREPAYMENTS	'
	Other current assets and prepayments of $84,877 mainly represent the small amount of advances to the employees.

PROPERTY_PLANT_AND_EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	9 Months Ended
	Sep. 30, 2014
Notes to Financial Statements	'
Note 5 - PROPERTY, PLANT AND EQUIPMENT	'
	The following is a summary of property, plant and equipment:
		September 30,		December 31,
		2014		2013
	Cost	$	-	$	-
	Motor vehicles		255,333		257,699
	Office equipment		21,756		21,958
	EPC projects equipment		318,115		321,063
	Total	$	595,204	$	600,720
	Accumulated depreciation		-261,735		-222,095
	Property, plant & equipment, net	$	333,469	$	378,625
	The EPC projects equipment of $318,115 was the installed solar photovoltaic power generation equipment located in Huanghe Bay, Qiachuan County, Shaanxi Province, PRC.

INTANGIBLE_ASSET

INTANGIBLE ASSET	9 Months Ended
	Sep. 30, 2014
Notes to Financial Statements	'
Note 6 - INTANGIBLE ASSET	'
	The following is a summary of intangible asset:
		September 30,		December 31,
		2014		2013
	Cost of Land use right	$	20,800,274	$	20,993,030
	Accumulated Amortization of Land use right		-4,392,178		-4,117,985
	Intangible Asset, net	$	16,408,096	$	16,875,045
	The difference for the balance of cost was mainly due to the fluctuation of exchange rate of USD to RMB.
	Amortization expenses were approximately $312,395 and $308,825 for the nine months ended September 30, 2014, and 2013, respectively.

LONG_TERM_INVESTMENT

LONG TERM INVESTMENT	9 Months Ended
	Sep. 30, 2014
Notes to Financial Statements	'
Note 7 - LONG TERM INVESTMENT	'
	The balance of $132,236 represents the net value of long term investment to Shaanxi Changjiang electricity & new energy Co., Ltd. The Company is holding 20% equity of this associated company from 2008, with an investment cost of $315,658(RMB 2,000,000). Impairment of $183,429 was provided for the year ended December 31, 2013.

DUE_FROM_RELATED_PARTIES_NON_C

DUE FROM RELATED PARTIES - NON CURRENT	9 Months Ended
	Sep. 30, 2014
Notes to Financial Statements	'
Note 8 - DUE FROM RELATED PARTIES - NON CURRENT	'
	The balance of $6,280,523 due from related parties represents the loan owed from related parties, which are unsecured and repayable on demand.
	Due from related parties consists of the following:
		September 30,		December 31,		Interest
		2014		2013
	Du Kang Liquor Development Co., Ltd	$	812,559	$	820,089	interest free for the first year and bear interest in the benchmark lending rate over the same period afterwards
	Shaanxi Du Kang Liquor Group Co., Ltd	$	1,255,252	$	1,337,388	bearing interest in the benchmark lending rate over the same period
	Zhongke Aerospace & Agriculture Development Stock Co., Ltd	$	459,096	$	463,350	interest free
	Shaanxi Huanghe Bay Springs Lake Theme Park Ltd	$	3,351,806	$	2,460,267	interest free
	Shaanxi Changfa Industrial Co., LTD	$	373,777	$	377,241	interest free
	Shaanxi East Mining Co., Ltd	$	22,752	$	22,962	interest free
	Shaanxi Changjiang Zhongxiayou Investment Co., Ltd	$	5,281	$	5,331	interest free
	Total	$	6,280,523	$	5,486,628

OTHER_PAYABLES_AND_ACCRUED_LIA

OTHER PAYABLES AND ACCRUED LIABILITIES	9 Months Ended
	Sep. 30, 2014
Notes to Financial Statements	'
Note 9 - OTHER PAYABLES AND ACCRUED LIABILITIES	'
	The following is a summary of other payables and accrued liabilities:
		September 30,		December 31,
		2014		2013
	Tax payable	$	255,955	$	206,681
	Salary and welfare payable		585		321
	Other payable		145,439		146,492
		$	401,979	$	353,494

DUE_TO_RELATED_PARTIES

DUE TO RELATED PARTIES	9 Months Ended
	Sep. 30, 2014
Notes to Financial Statements	'
Note 10 - DUE TO RELATED PARTIES	'
	The balance of $3,463,158 due to related parties represents the loan owed to related parties, which are interest free, unsecured and repayable on demand twelve months after September 30, 2014.
	Due to related parties consists of the following.
		September 30,		December 31,
		2014		2013
	Huiton World Property Superintendent Company	$	406,279	$	410,044
	Zhongke Lvxiang Development Stock Co., Ltd	$	1,137,582	$	1,148,124
	Shaanxi Changjiang Electricity & New Energy Co., Ltd	$	201,656	$	203,525
	Shaanxi East Mining Co., Ltd		1,698,284	$	1,700,901
	Baishui Du Kang Brand Management Co., Ltd	$	9,752	$	9,841
	Shaanxi Du Kang Wine Trading Co., Ltd	$	8,613	$	-
	Shaanxi Xidenghui Technology Co., Ltd	$	992	$	1,002
	Total	$	3,463,158	$	3,473,437

DUE_TO_SHAREHOLDERS

DUE TO SHAREHOLDERS	9 Months Ended
	Sep. 30, 2014
Notes to Financial Statements	'
Note 11 - DUE TO SHAREHOLDERS	'
	The balance of $3,388,182 due to shareholders represents the loan owed to the shareholders, which are interest free, unsecured and repayable on demand twelve months after September 30, 2014.
	Due to shareholders consists of the following:
		September 30,		December 31,
		2014		2013
	Due to Wang Shengli	$	1,793,137	$	1,809,755
	Due to Zhang Hongjun		985,959		995,096
	Due to Chen Min	$	609,086	$	613,470
		$	3,388,182	$	3,418,321

SALES_REVENUE_RELATED_PARTY

SALES REVENUE - RELATED PARTY	9 Months Ended
	Sep. 30, 2014
Notes to Financial Statements	'
Note 12 - SALES REVENUE - RELATED PARTY	'
	The Company entered into a lease and complementary agreements with the related company Shaanxi Huanghe Bay Springs Lake Theme Park Ltd (“Huanghe”) dated July 26, 2010. According to the agreements, a piece of land with the area of 5,706,666.67 square meters was leased to Huanghe for traveling and amusement from January 1, 2011 to December 31, 2029. The annual rent in US dollars is approximately $1.2 million (equivalent to RMB7, 500,000). The rent revenues of $915,274 and $303,014 were recognized for the nine and three months ended September 30, 2014, compared with the rent revenues of $904,814 and $303,091 for the nine and three months ended September 30, 2013.

INCOME_TAX

INCOME TAX	9 Months Ended
	Sep. 30, 2014
Notes to Financial Statements	'
Note 13 - INCOME TAX	'
	The provision for taxes on earnings consisted of:
			For the three months ended					For the nine months ended
			September 30,					September 30,
			2014		2013			2014		2013
	PRC Enterprise Income Tax	Continuing operations	$	-	$	-		$	-	$	-
		Discontinued operations		-		(23,721	)		-		563,655
	United States Federal Income Tax	Continuing operations		-		-			-		-
		Discontinued operations		-		-			-		-
	Income tax expense, net	Continuing operations		-		-			-		-
		Discontinued operations	$	-	$	(23,721	)	$	-	$	563,655
	The income taxes expense (benefit), which is all incurred in PRC, consists of the following:
			For the three months ended					For the nine months ended
			September 30,					September 30,
			2014		2013			2014		2013
	Current income tax expense	Continuing operations	$	-	$	-		$	-	$	-
		Discontinued operations		-		-23,721			-		563,655
	Deferred income tax benefit	Continuing operations		-		-			-		-
		Discontinued operations		-		-			-		-
	Income tax expense, net	Continuing operations		-		-			-		-
		Discontinued operations	$	-	$	-23,721		$	-	$	563,655
	The Company did not have income tax expense due to the use of net loss carry over from prior years.

DISCONTINUED_OPERATIONS

DISCONTINUED OPERATIONS	9 Months Ended
	Sep. 30, 2014
Notes to Financial Statements	'
Note 14 - DISCONTINUED OPERATIONS	'
	On December 30, 2013, the Company transferred all of the 60% equity of East Mining to its control person, Mr. Zhang Hong Jun and one of the other company shareholders, Mr. Wang Sheng Li, with a consideration of $885,696 (RMB5,400,000). Each of the acquirers obtained 30% equity in this transaction. The transfer of East Mining is a transaction between entities under common control. No gain or loss is recognized for the transaction.
	East Mining completed the sale of its mines exploration rights to Xunyang County Yongjin Mining Co., Ltd for business purpose with a consideration of $2,412,836 (RMB 15,000,000) as of September 30, 2013. The gain of $2,284,956 on disposal of mines consists of the cash consideration less the total of $127,880 for the related business tax and the surcharges.
	Pursuant to accounting rules for discontinuing operations, The Company has classified 2013 interim periods to present the activity related to the East Ming as a discontinued operation. Discontinued operations for the three and nine months ended September 30, 2013 are summarized as follows.
		For three			For nine
		months ended			months ended
		September 30,			September 30,
		2013			2013
	Sales revenue	$	-		$	-
	Cost of revenue		-			-
	Gross Profit	$	-		$	-
	Operating expenses (income)
	Administrative expenses		48,972			68,161
	Gain on disposal of asset		(5,628	)		(2,284,956	)
	Depreciation		363			1,295
	Total Operating Expenses (Income)	$	43,707		$	(2,215,500	)
	Income (Loss) from operations		(43,707	)		2,215,500
	Other Income (Expenses)
	Interest income		7,180			39,760
	Interest expenses		(636	)		(780	)
	Allowance for long term investment		-			-
	Total Other Income	$	6,544		$	38,980
	Income (Loss) before tax		(37,163	)		2,254,480
	Income tax expense (benefit)		(23,721	)		563,655
	Net Income (Loss)	$	(13,442	)	$	1,690,825

RELATED_PARTY_TRANSACTIONS_REV

RELATED PARTY TRANSACTIONS - REVENUE	9 Months Ended
	Sep. 30, 2014
Notes to Financial Statements	'
Note 15 - RELATED PARTY TRANSACTIONS	'
	In addition to the other transactions and balances disclosed elsewhere in the financial statements, the Company leased the land use right to Huanghe, a company with the same controlling person, and generated rent revenue of $303,014 and $915,274 for the three and nine months ended September 30, 2014.

SEGMENT_INFORMATION

SEGMENT INFORMATION	9 Months Ended
	Sep. 30, 2014
Notes to Financial Statements	'
Note 16 - SEGMENT INFORMATION	'
	The Company operates in two reportable segments, land use right leasing and solar PV energy. The solar PV energy business did not generated revenue for the reporting periods. Summarized information by business segment for the three and nine months ended September 30, 2014 and 2013 is as follows.
		For three months ended				For nine months ended
		September 30,				September 30,
		2014		2013		2014		2013
	Revenue	$		$		$		$
	Land use right leasing		303,014		303,091		915,274		904,814
	Solar PV energy		-		-		-		-
	Cost of revenue
	Land use right leasing		16,968		16,973		51,255		50,670
	Solar PV energy		-		-		-		-
	Gross Profits
	Land use right leasing		286,046		286,118		864,019		854,144
	Solar PV energy		-		-		-		-
	The Company evaluates segment performance based on income from operations. As a result, the components of operating income for one segment may not be comparable to another segment.

SUBSEQUENT_EVENT

SUBSEQUENT EVENT	9 Months Ended
	Sep. 30, 2014
Notes to Financial Statements	'
Note 17 - SUBSEQUENT EVENT	'
	The balance of $1,283,843 (RMB7,900,000), which was lent to Shaanxi Du Kang Liquor Group Co., Ltd, a related party of the Company, expired in October 2014, and has been extended to the end of March 2015. This loan bears interest at the benchmark lending rate over the same period (see Note 8).

SUMMARY_OF_SIGNIFICANT_ACCOUNT1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2014
Summary Of Significant Accounting Policies Policies	'
Going Concern	'
	The Company incurred net income of $285, 863 for the nine months ended September 30, 2014 and had an accumulated deficit of approximately $3.03 million as of September 30, 2014. In addition, the Company had a working capital deficit of $221,533 as of September 30, 2014. The Company has cash and cash equivalents balance of $95,569 and net cash used in operating activities amounted to $154,144. If the Company cannot generate enough cash flow from its operating activities, it will need to consider other financing methods such as borrowing from banking institutions or raising additional capital through new equity issuance. There are no assurances that additional funds will be available when needed from any source or, if available, will be available on terms that are acceptable to us. The Company plans to continue to control its administrative expenses in the coming periods as well as further develop its sales from its main business.
Foreign Currency Translation	'
	Exchange rates applied for the foreign currency translation during the period are as follows:
	USD to RMB
		September 30,		December 31,
		2014		2013
	Period end USD : RMB exchange rate		6.1534		6.0969
	Average periodic USD : RMB exchange rate		6.1457		6.1912
	USD to HKD
		September 30,		December 31,
		2014		2013
	Period end USD : HKD exchange rate		7.7635		7.7555
	Average periodic USD : HKD exchange rate		7.7543		7.7542
	HKD is pegged to USD and hence there is no significant translation adjustment impact on these consolidated financial statements.
	RMB is not freely convertible into foreign currency and all foreign exchange transactions must take place through authorized institutions. No representation is made that the RMB amounts could have been, or could be, converted into USD at the rates used in translation.
Earning/Loss per share	'
	Basic earning/loss per share is computed by dividing earning/loss available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earning/loss per share is computed in a manner similar to basic earning/loss per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive.
Discontinued operations	'
	As of September 30, 2014, the Company completed the sale of Shaanxi East Mining Co., Ltd (“East Mining”). In accordance with FASB ASC 360-10-Accounting for the Impairment or Disposal of Long-lived Assets, the results of operations of this divestiture have been reflected as discontinued operations. See Note 13 for additional information regarding discontinued operations.

SUMMARY_OF_SIGNIFICANT_ACCOUNT2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended
	Sep. 30, 2014
Summary Of Significant Accounting Policies Tables	'
Exchange rates applied for foreign currency translation	'
	USD to RMB
		September 30,		December 31,
		2014		2013
	Period end USD : RMB exchange rate		6.1534		6.0969
	Average periodic USD : RMB exchange rate		6.1457		6.1912
	USD to HKD
		September 30,		December 31,
		2014		2013
	Period end USD : HKD exchange rate		7.7635		7.7555
	Average periodic USD : HKD exchange rate		7.7543		7.7542

PROPERTY_PLANT_AND_EQUIPMENT_T

PROPERTY, PLANT AND EQUIPMENT (Tables)	9 Months Ended
	Sep. 30, 2014
Summary Of Significant Accounting Policies Tables	'
Property plant and equipment	'
		September 30,		December 31,
		2014		2013
	Cost	$	-	$	-
	Motor vehicles		255,333		257,699
	Office equipment		21,756		21,958
	EPC projects equipment		318,115		321,063
	Total	$	595,204	$	600,720
	Accumulated depreciation		-261,735		-222,095
	Property, plant & equipment, net	$	333,469	$	378,625

INTANGIBLE_ASSET_Tables

INTANGIBLE ASSET (Tables)	9 Months Ended
	Sep. 30, 2014
Intangible Asset Tables	'
Summary of intangible asset	'
		September 30,		December 31,
		2014		2013
	Cost of Land use right	$	20,800,274	$	20,993,030
	Accumulated Amortization of Land use right		-4,392,178		-4,117,985
	Intangible Asset, net	$	16,408,096	$	16,875,045

DUE_FROM_RELATED_PARTIES_NON_C1

DUE FROM RELATED PARTIES - NON CURRENT (Tables)	9 Months Ended
	Sep. 30, 2014
Due From Related Parties - Non Current Tables	'
Due from related parties	'
		September 30,		December 31,		Interest
		2014		2013
	Du Kang Liquor Development Co., Ltd	$	812,559	$	820,089	interest free for the first year and bear interest in the benchmark lending rate over the same period afterwards
	Shaanxi Du Kang Liquor Group Co., Ltd	$	1,255,252	$	1,337,388	bearing interest in the benchmark lending rate over the same period
	Zhongke Aerospace & Agriculture Development Stock Co., Ltd	$	459,096	$	463,350	interest free
	Shaanxi Huanghe Bay Springs Lake Theme Park Ltd	$	3,351,806	$	2,460,267	interest free
	Shaanxi Changfa Industrial Co., LTD	$	373,777	$	377,241	interest free
	Shaanxi East Mining Co., Ltd	$	22,752	$	22,962	interest free
	Shaanxi Changjiang Zhongxiayou Investment Co., Ltd	$	5,281	$	5,331	interest free
	Total	$	6,280,523	$	5,486,628

OTHER_PAYABLES_AND_ACCRUED_EXP

OTHER PAYABLES AND ACCRUED EXPENSES (Tables)	9 Months Ended
	Sep. 30, 2014
Other Payables And Accrued Expenses Tables	'
Summary of other payables and accrued liabilities	'
		September 30,		December 31,
		2014		2013
	Tax payable	$	255,955	$	206,681
	Salary and welfare payable		585		321
	Other payable		145,439		146,492
		$	401,979	$	353,494

DUE_TO_RELATED_PARTIES_Tables

DUE TO RELATED PARTIES (Tables)	9 Months Ended
	Sep. 30, 2014
Due To Related Parties Tables	'
Due to related parties	'
		September 30,		December 31,
		2014		2013
	Huiton World Property Superintendent Company	$	406,279	$	410,044
	Zhongke Lvxiang Development Stock Co., Ltd	$	1,137,582	$	1,148,124
	Shaanxi Changjiang Electricity & New Energy Co., Ltd	$	201,656	$	203,525
	Shaanxi East Mining Co., Ltd		1,698,284	$	1,700,901
	Baishui Du Kang Brand Management Co., Ltd	$	9,752	$	9,841
	Shaanxi Du Kang Wine Trading Co., Ltd	$	8,613	$	-
	Shaanxi Xidenghui Technology Co., Ltd	$	992	$	1,002
	Total	$	3,463,158	$	3,473,437

DUE_TO_SHAREHOLDERS_Tables

DUE TO SHAREHOLDERS (Tables)	9 Months Ended
	Sep. 30, 2014
Due To Shareholders Tables	'
Due to shareholders	'
		September 30,		December 31,
		2014		2013
	Due to Wang Shengli	$	1,793,137	$	1,809,755
	Due to Zhang Hongjun		985,959		995,096
	Due to Chen Min	$	609,086	$	613,470
		$	3,388,182	$	3,418,321

INCOME_TAX_Tables

INCOME TAX (Tables)	9 Months Ended
	Sep. 30, 2014
Income Tax Tables	'
Provision for taxes on earnings	'
			For the three months ended					For the nine months ended
			September 30,					September 30,
			2014		2013			2014		2013
	PRC Enterprise Income Tax	Continuing operations	$	-	$	-		$	-	$	-
		Discontinued operations		-		(23,721	)		-		563,655
	United States Federal Income Tax	Continuing operations		-		-			-		-
		Discontinued operations		-		-			-		-
	Income tax expense, net	Continuing operations		-		-			-		-
		Discontinued operations	$	-	$	(23,721	)	$	-	$	563,655
Income taxes expense (benefit)	'
			For the three months ended					For the nine months ended
			September 30,					September 30,
			2014		2013			2014		2013
	Current income tax expense	Continuing operations	$	-	$	-		$	-	$	-
		Discontinued operations		-		-23,721			-		563,655
	Deferred income tax benefit	Continuing operations		-		-			-		-
		Discontinued operations		-		-			-		-
	Income tax expense, net	Continuing operations		-		-			-		-
		Discontinued operations	$	-	$	-23,721		$	-	$	563,655

DISCONTINUED_OPERATIONS_Tables

DISCONTINUED OPERATIONS (Tables)	9 Months Ended
	Sep. 30, 2014
Discontinued Operations Tables	'
Summarized income statement, discontinued operations	'
		For three			For nine
		months ended			months ended
		September 30,			September 30,
		2013			2013
	Sales revenue	$	-		$	-
	Cost of revenue		-			-
	Gross Profit	$	-		$	-
	Operating expenses (income)
	Administrative expenses		48,972			68,161
	Gain on disposal of asset		(5,628	)		(2,284,956	)
	Depreciation		363			1,295
	Total Operating Expenses (Income)	$	43,707		$	(2,215,500	)
	Income (Loss) from operations		(43,707	)		2,215,500
	Other Income (Expenses)
	Interest income		7,180			39,760
	Interest expenses		(636	)		(780	)
	Allowance for long term investment		-			-
	Total Other Income	$	6,544		$	38,980
	Income (Loss) before tax		(37,163	)		2,254,480
	Income tax expense (benefit)		(23,721	)		563,655
	Net Income (Loss)	$	(13,442	)	$	1,690,825

SEGMENT_INFORMATION_Tables

SEGMENT INFORMATION (Tables)	3 Months Ended
	Sep. 30, 2013
Segment Information Tables	'
Summarized information by business segment	'
		For three months ended				For nine months ended
		September 30,				September 30,
		2014		2013		2014		2013
	Revenue	$		$		$		$
	Land use right leasing		303,014		303,091		915,274		904,814
	Solar PV energy		-		-		-		-
	Cost of revenue
	Land use right leasing		16,968		16,973		51,255		50,670
	Solar PV energy		-		-		-		-
	Gross Profits
	Land use right leasing		286,046		286,118		864,019		854,144
	Solar PV energy		-		-		-		-

SUMMARY_OF_SIGNIFICANT_ACCOUNT3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	9 Months Ended	12 Months Ended
	Sep. 30, 2014	Dec. 31, 2013
USD to RMB [Member]	'	'
Period end exchange rate	'6.1534	'6.0969
Average periodic exchange rate	'6.1457	'6.1912
USD to HKD [Member]	'	'
Period end exchange rate	'7.7635	'7.7555
Average periodic exchange rate	'7.7543	'7.7542

SUMMARY_OF_SIGNIFICANT_ACCOUNT4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013	Dec. 31, 2012
Summary Of Significant Accounting Policies Details Narrative	'	'	'	'	'	'
Net Income	$46,846	$97,354	$285,863	$1,968,383	'	'
Accumulated deficit	-3,031,892	'	-3,031,892	'	-3,325,983	'
Working capital deficit	221,533	'	221,533	'	'	'
Cash and cash equivalents	95,569	400,475	95,569	400,475	159,866	1,763,381
Net cash used in operating activities	'	'	($154,144)	($717,451)	'	'

OTHER_CURRENT_ASSETS_AND_PREPA1

OTHER CURRENT ASSETS AND PREPAYMENTS (Details Narrative) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Other Current Assets And Prepayments Details Narrative	'	'
Other current assets and prepayments	$84,877	$155,564

PROPERTY_PLANT_AND_EQUIPMENT_D

PROPERTY, PLANT AND EQUIPMENT (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Total	$595,204	$600,720
Accumulated depreciation	-261,735	-222,095
Preperty, plant & equipment, net	333,469	378,625
Cost [Member]	'	'
Total	'	'
Motor vehicles [Member]	'	'
Total	255,333	257,699
Office Equipment [Member]	'	'
Total	21,756	21,958
EPC Projects Equipments [Member]	'	'
Total	$318,115	$321,063

PROPERTY_PLANT_AND_EQUIPMENT_D1

PROPERTY, PLANT AND EQUIPMENT (Details Narrative) (USD $)	9 Months Ended
	Sep. 30, 2014
Property Plant And Equipment Details Narrative	'
EPC projects equipment installed	$318,115

INTANGIBLE_ASSET_Details

INTANGIBLE ASSET (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Intangible Asset Tables	'	'
Cost of Land use right	$20,800,274	$20,993,030
Accumulated Amortization of Land use right	-4,392,178	-4,117,985
Intangible Asset, net	$16,408,096	$16,875,045

INTANGIBLE_ASSET_Details_Narra

INTANGIBLE ASSET (Details Narrative) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Intangible Asset Details Narrative	'	'	'	'
Amortization expenses	$103,423	$103,449	$312,395	$308,825

LONG_TERM_INVESTMENT_Details_N

LONG TERM INVESTMENT( Details Narrative) (USD $)	12 Months Ended
	Dec. 31, 2013
Long Term Investment Details Narrative	'
Investment cost	$183,429

DUE_FROM_RELATED_PARTIES_NON_C2

DUE FROM RELATED PARTIES - NON CURRENT (Details) (USD $)	9 Months Ended	12 Months Ended
	Sep. 30, 2014	Dec. 31, 2013
Due from related parties non current	$6,280,523	$5,486,628
Du Kang Liquor Development Co Ltd [Member]	'	'
Due from related parties non current	812,559	820,089
Interest	'interest free for the first year and bear interest in the benchmark lending rate over the same period afterwards	'interest free for the first year and bear interest in the benchmark lending rate over the same period afterwards
Shaanxi Du Kang Liquor Group Co Ltd [Member]	'	'
Due from related parties non current	1,255,252	1,337,388
Interest	'bearing interest in the benchmark lending rate over the same period	'bearing interest in the benchmark lending rate over the same period
Zhongke Aerospace And Agriculture Development Stock Co Ltd [Member]	'	'
Due from related parties non current	459,096	463,350
Interest	'interest free	'interest free
Shaanxi Huanghe Bay Springs Lake Theme Park Ltd [Member]	'	'
Due from related parties non current	3,351,806	2,460,267
Interest	'interest free	'interest free
Shaanxi Changfa Industrial Co LTD [Member]	'	'
Due from related parties non current	373,777	377,241
Interest	'interest free	'interest free
Shaanxi East Mining Co Ltd [Member]	'	'
Due from related parties non current	22,752	22,962
Interest	'interest free	'interest free
Shaanxi Changjiang Zhongxiayou Investment Co.,Ltd [Member]	'	'
Due from related parties non current	$5,281	$5,331
Interest	'interest free	'interest free

DUE_FROM_RELATED_PARTIES_NON_C3

DUE FROM RELATED PARTIES - NON CURRENT (Details Narrative) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Due From Related Parties - Non Current Details Narrative	'	'
Due from related parties non current	$6,280,523	$5,486,628

OTHER_PAYABLES_AND_ACCRUED_LIA1

OTHER PAYABLES AND ACCRUED LIABILITIES (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Other Payables And Accrued Liabilities Details	'	'
Tax payable	$255,955	$206,681
Salary and welfare payable	585	321
Other payable	145,439	146,492
Total	$401,979	$353,494

DUE_TO_RELATED_PARTIES_Details

DUE TO RELATED PARTIES (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Due to related parties	$3,463,158	$3,473,437
Due to Huiton World Property Superintendent Company [Member]	'	'
Due to related parties	406,279	410,044
Due to Zhongke Lvxiang Development Stock Co Ltd [Member]	'	'
Due to related parties	1,137,582	1,148,124
Due to Shaanxi Changjiang Electricity And New Energy Co Ltd [Member]	'	'
Due to related parties	201,656	203,525
Shaanxi East Mining Co Ltd [Member]	'	'
Due to related parties	1,698,284	1,700,901
Due to Baishui Du Kang Brand Management Co Ltd [Member]	'	'
Due to related parties	9,752	9,841
Due to Shaanxi Du Kang Wine Trading Co., Ltd [Member]	'	'
Due to related parties	8,613	'
Due to Shaanxi Xidenghui Technology Co Ltd [Member]	'	'
Due to related parties	$992	$1,002

DUE_TO_RELATED_PARTIES_Details1

DUE TO RELATED PARTIES (Details Narrative) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Due To Related Parties Details Narrative	'	'
Due to related parties	$3,463,158	$3,473,437

DUE_TO_SHAREHOLDERS_Details

DUE TO SHAREHOLDERS (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Due to shareholders	$3,388,182	$3,418,321
Due to Wang Shengli [Member]	'	'
Due to shareholders	1,793,137	1,809,755
Due to Zhang Hongjun [Member]	'	'
Due to shareholders	985,959	995,096
Due to Chen Min [Member]	'	'
Due to shareholders	$609,086	$613,470

DUE_TO_SHAREHOLDERS_Details_Na

DUE TO SHAREHOLDERS (Details Narrative) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Due To Shareholders Details Narrative	'	'
Due to shareholders	$3,388,182	$3,418,321

SALES_REVENUE_RELATED_PARTY_De

SALES REVENUE - RELATED PARTY (Details Narrative) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Sales Revenue - Related Party Details Narrative	'	'	'	'
Rent revenue	$303,014	$303,091	$915,274	$904,814

INCOME_TAX_Details

INCOME TAX (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Income tax expense, net	'	'	'	'
Continuing Operation [Member]	'	'	'	'
PRC Enterprise Income Tax	'	'	'	'
United States Federal Income Tax	'	'	'	'
Income tax expense, net	'	'	'	'
Discontinued Operation [Member]	'	'	'	'
PRC Enterprise Income Tax	'	-23,721	'	563,655
United States Federal Income Tax	'	'	'	'
Income tax expense, net	'	($23,721)	'	$563,655

INCOME_TAX_Details_1

INCOME TAX (Details 1) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Income tax expense, net	'	'	'	'
Continuing Operation [Member]	'	'	'	'
Current income tax expense	'	'	'	'
Deferred income tax benefit	'	'	'	'
Income tax expense, net	'	'	'	'
Discontinued Operation [Member]	'	'	'	'
Current income tax expense	'	-23,721	'	563,655
Deferred income tax benefit	'	'	'	'
Income tax expense, net	'	($23,721)	'	$563,655

DISCONTINUED_OPERATIONS_Detail

DISCONTINUED OPERATIONS (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Income (Loss) from operations	$46,846	$110,796	$285,863	$277,558
Income (Loss) before tax	46,846	110,796	285,863	277,558
Income tax expense (benefit)	'	'	'	'
Net Income (Loss)	46,846	97,354	285,863	1,968,383
Discontinued Operation [Member]	'	'	'	'
Sales revenue	'	'	'	'
Cost of revenue	'	'	'	'
Gross Profit	'	'	'	'
Administrative expenses	'	48,972	'	68,161
Gain on disposal of asset	'	-5,628	'	-2,284,956
Depreciation	'	363	'	1,295
Total Operating Expenses (Income)	'	43,707	'	-2,215,500
Income (Loss) from operations	'	-43,707	'	2,215,500
Interest income	'	7,180	'	39,760
Interest expenses	'	-636	'	-780
Allowance for long term investment	'	'	'	'
Total Other Income	'	6,544	'	38,980
Income (Loss) before tax	'	-37,163	'	2,254,480
Income tax expense (benefit)	'	-23,721	'	563,655
Net Income (Loss)	'	($13,442)	'	$1,690,825

DISCONTINUED_OPERATIONS_Detail1

DISCONTINUED OPERATIONS (Details Narrative) (USD $)	9 Months Ended
	Sep. 30, 2013
Discontinued Operations Details Narrative	'
Mines exploration consideration	$2,412,836
Gain on disposal of mines	2,284,956
Cash consideration related to business tax and surcharges	$127,880

RELATED_PARTY_TRANSACTIONS_REV1

RELATED PARTY TRANSACTIONS - REVENUE (Details Narrative) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Related Party Transactions - Revenue Details Narrative	'	'	'	'
Rent revenue	$303,014	$303,091	$915,274	$904,814

SEGMENT_INFORMATION_Details

SEGMENT INFORMATION (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Cost of revenue	$16,968	$16,973	$51,255	$50,670
Gross Profits	286,046	286,118	864,019	854,144
Land use right leasing [Member]	'	'	'	'
Revenue	303,014	303,091	915,274	904,814
Cost of revenue	16,968	16,973	51,255	50,670
Gross Profits	286,046	286,118	864,019	854,144
Solar PV energy [Member]	'	'	'	'
Revenue	'	'	'	'
Cost of revenue	'	'	'	'
Gross Profits	'	'	'	'