XML 44 R33.htm IDEA: XBRL DOCUMENT v3.10.0.1

12. INCOME TAXES (Tables)

6 Months Ended

Jun. 30, 2018

Income Tax Disclosure [Abstract]

Schedule of components of the provision for income taxes

		Three-Month Period Ended June 30,								Six-Month Period Ended June 30,
		2018				2017				2018				2017
Current taxes – PRC		$	—			$	4,821,450			$	—			$	7,643,276
Deferred taxes – PRC			(1,883,241	)			—				(3,076,987	)			—
		$	(1,883,241	)		$	4,821,450			$	(3,076,987	)		$	7,643,276

Schedule of income tax expenses reconciliation

	Three-Month Period Ended June 30,								Six-Month Period Ended June 30,
Reconciliations	2018				2017				2018				2017
Statutory income tax rate		25	%			25	%			25	%			25	%
Non-deductible expense		(1	%)			1	%			(4	%)			1	%
Non-taxable items		5	%			-				1	%			-
Change in valuation allowance		(1	%)			-				(1	%)			-
Effective tax rate		28	%			26	%			21	%			26	%

Schedule of deferred tax assets and liabilities

		June 30,				December 31,
		2018				2017
Deferred tax liabilities		$	—			$	—
Deferred tax assets:
Allowance for obsolete and slow-moving inventories		$	—			$	10,980
Impairment on property, plant and equipment			3,706,211				4,610,228
Exploration costs			1,881,693				1,905,347
Compensation costs of unexercised stock options			94,287				98,092
PRC tax losses			3,820,948				—
US federal net operating loss			7,138,700				7,080,000
Total deferred tax assets			16,641,839				13,704,647
Valuation allowance			(7,232,987	)			(7,178,092	)
Net deferred tax asset		$	9,408,852			$	6,526,555

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration