| ORGANIZATION AND DESCRIPTION OF BUSINESS | NOTE 1. ORGANIZATION AND DESCRIPTION OF BUSINESS China Changjiang Mining & New Energy Company,
Ltd. ("China Changjiang", "we", the "Company") was incorporated under the laws of the State of Delaware
in 1969. Hong Kong Wah Bon Enterprise Limited ("Wah
Bon") was incorporated in Hong Kong on July 7, 2006 as an investment holding company. Shaanxi Pacific New Energy Development Company
Limited ("Shaanxi Pacific") was incorporated as a limited liability company in the People's Republic of China ("PRC")
on July 20, 2007 as an investment holding company. Shaanxi Changjiang Mining & New Energy Company,
Ltd ("Shaanxi Changjiang") (formerly Weinan Industrial and Commercial Company Limited) was incorporated as a limited liability
company in the PRC on March 19, 1999. The Company became a joint stock company in January 2006 with its business activities in investment
holding and the development of a theme park in Xi'An, PRC. In August 2005, Shaanxi Changjiang contributed
land use rights valued at $7,928,532 in lieu of cash to the registered capital of Huanghe representing 92.93% of the equity of Huanghe.
Huanghe was incorporated as a limited liability company in the PRC on August 9, 2005 as Shaanxi Changjiang Petroleum and Energy Development
Co., Limited and is engaged in the development of a theme park in Huanghe Bay (Huanghe Nantan), Heyang County, Shaanxi Province, PRC. On February 5, 2007, Shaanxi Changjiang entered
into an agreement with a third party to acquire 40% of the equity interest in East Mining Company Limited ("East Mining") for
$3,117,267 in cash. East Mining is engaged in exploration for lead, zinc and gold for mining in Xunyan County, Shaanxi Province, PRC. On March 22, 2007, Shaanxi Changjiang entered
into an agreement with the majority shareholder of Shaanxi Changjiang to exchange its 92.93% interest in Huanghe for a 20% equity interest
in East Mining owned by this related party. On August 15, 2007, 97.2% of the shareholders
of Shaanxi Changjiang entered into a definitive agreement with Shaanxi Pacific and the stockholders of Shaanxi Pacific in which they disposed
their ownership in Shaanxi Changjiang to Shaanxi Pacific for 98% of ownership in Shaanxi Pacific and cash of $1,328,940 payable on or
before December 31, 2007. On September 2, 2007, Wah Bon acquired 100% ownership
of Shaanxi Pacific for a cash consideration of $128,205. On May 30, 2007, amended to July 5, 2007, North
American Gaming and Entertainment Corporation ("North American") entered into a Material Definitive Agreement, pursuant to which
the shareholders of Shaanxi Changjiang exchanged all their shares in Shaanxi Changjiang for 500,000 shares of series C convertible preferred
stock ("series C shares") in North American which carried the right of 1,218 votes per share and was convertible to 609,000,000
common shares. In connection with the exchange, Shaanxi Changjiang also delivered $370,000 to North American and certain non-affiliates
of North American will transfer to North American or its designee a total of 3,800,000 shares of common stock, par value of $0.01 per
share, of North American which had been held for longer than 2 years by such non-affiliates, in exchange for the issuance by North American
to each of such non-affiliates of 2,250,000 shares of common stock of North American. Issued and outstanding share of series C preferred
stock were automatically converted into that number of fully paid and non-assessable shares of common stock based upon the conversion
rate upon the filing by the Company of an amendment to its Certificate of Incorporation, increasing the number of authorized shares of
common stock to 800,000,000 shares, changing the Company's name to China Changjiang Mining & New Energy Company Ltd. and implementing
a one for ten reverse stock split. The transaction was closed on February 4, 2008 and Wah Bon became a wholly owned subsidiary of North
American. There was a 10 to 1 reverse stock split for the
Company's common stock during December 2009 and all the shares information are retroactively restated to reflect the reverse stock split.
The preferred stockholders will not convert their C convertible preferred stock until after the completion of the reverse stock split. On February 9, 2010, we filed a Certificate of
Amendment to our Articles of Incorporation to effect a 1-for-10 reverse stock split of our common stock. The 1-for-10 reverse split was
approved by FINRA on July 30, 2010, effective August 2, 2010. The Company was reincorporated from the state
of Delaware to the state of Nevada with the intent to effect a statutory merger of the Delaware corporation "North American Gaming
and Entertainment Corporation" into China Changjiang and to swap all issued and outstanding shares in the Delaware corporation for
comparable shares in China Changjiang and dissolve the Delaware corporation. The merger of North American and Wah Bon was treated
for accounting purposes as a capital transaction and recapitalization by Wah Bon ("the accounting acquirer") and re-organization
by North American ("the accounting acquiree"). The consolidated financial statements have been prepared as if the reorganization
had occurred retroactively. On February 4, 2008, we acquired Wah Bon and its
three subsidiaries: Shaanxi Pacific; Shaanxi Changjiang and East Mining. Wah Bon owns 100% of Shaanxi Pacific. Shaanxi Pacific owns 97.2%
of Shaanxi Changjiang; and Shaanxi Changjiang owns 60% of East Mining. The minority interests represent the minority shareholders' 2.8%
and 40% share of the results of Shaanxi Changjiang and East Mining respectively. The Company established a subsidiary, named Shaanxi
Weinan Changjiang Solar Photovoltaic Energy Applied Science and Technology Co., Ltd. ("Changjiang PV") in April 2012. The Company's
subsidiary, Shaanxi Changjiang accounted for 51% shares of Changjiang PV, and Mr. Zhang Hong Jun, the director and principal shareholder
of the Company, accounted for the other 49% shares. On December 30, 2013, the Company transferred
all of its 60% equity of East Mining to its director and principal shareholder, Mr. Zhang Hong Jun and one of its shareholders, Mr. Wang
Sheng Li with a consideration of $885,696 (RMB 5,400,000). Each of the acquirers obtained 30% equity of East Mining in this transaction.
There is no gain or loss recognized because this is a transaction between entities under common control. Prior to January 1, 2019,
the Company divested all of its subsidiaries, and de-registered Wah Bon in 2020. On February 3, 2020, the Eighth District Court of Clark
County, Nevada granted the Application for Appointment of Custodian as a result of the absence of a functioning board of directors and
the revocation of the Company’s charter. The order appointed Small Cap Compliance, LLC (“SCC”) custodian with the right
to appoint officers and directors, negotiate and compromise debt, execute contracts, issue stock, and authorize new classes of stock. The court awarded custodianship
to Small Cap Compliance, LLC (sole member is Rhonda Keaveney) based on the absence of a functioning board of directors, revocation of
the company’s charter, and abandonment of the business. At this time, Ms. Keaveney was appointed sole officer and director. Upon appointment as custodian
of CHJI and under its duties stipulated by the Nevada court, SCC took initiative to organize the business of the issuer. As custodian,
the duties were to conduct daily business, hold shareholder meetings, appoint officers and directors, reinstate the company with the Nevada
Secretary of State. SCC also had authority to enter into contracts and find a suitable merger candidate. SCC was compensated for its role
as custodian in the amount of 1,000,000 shares of Convertible Series C Preferred Stock. SCC did not receive any additional compensation,
in the form of cash or stock, for custodian services. The custodianship was discharged on May 18, 2020. On August 23, 2020, SCC
entered into a Stock Purchase Agreement with Bridgeview Capital Partners, LLC whereby Bridgeview Capital Partners, LLC purchased 1,000,000
shares of Convertible Series C Preferred Stock. These shares represent the controlling block of stock. Ms. Keaveney resigned his position
of sole officer and director and appointed Dr. Chongyi Yang as CEO, Treasurer, Secretary, and Director of the Company. Bridgeview Capital Partners, LLC is controlled
by Michael Dobbs and Sean Lanci. On August 23, 2020, Bridgeview
Capital Partners, LLC entered into a Stock Purchase with Cathay Capital Management Inc. (“Cathay”) whereby Cathay purchased
1,000,000 shares of Convertible Series C Preferred Stock. The Company transitioned
from mining to clean new energy. Our current business is focused on the solar photovoltaic, or “PV”. Concentrating solar-thermal
power (CSP) systems use mirrors to reflect and concentrate sunlight onto receivers that collect solar energy and convert it to heat, which
can then be used to produce electricity or stored for later use. It is used primarily in very large power plants. The Company’s
green energy business unit is committed to providing customers and partners with professional and comprehensive green new energy project
solution services. We build rural revitalization
smart new energy photovoltaic. Specifically, we will focus on 5G smart streetlamp energy storage and charging, integrated charging stations
and rural new energy vehicles, low-carbon parks, and commercial and household rooftop photovoltaic green power. On February 24, 2023,
Mr. Hui Huang, Mr. Jianbin Jiang, Ms. Huiyi Xiao, Ms. Qunxiang Huang, Mr. Zuhua Wan and Ms. Wenhui Chen were elected as CHJI’s directors.
On July 7, 2023, the Company added Mr. Hougang Ji, Ms. Shaoxian Mai and Mr. Yitao Ouyang as its Directors. |
