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13. INCOME TAXES (Restated) (Tables)

3 Months Ended

Mar. 31, 2018

Income Tax Disclosure [Abstract]

Schedule of components of the provision for income taxes

		Three-Month Period Ended March31,
		2018				2017
Current taxes – PRC		$	—			$	2,821,826
Deferred tax – PRC			(1,193,746	)			—
		$	(1,193,746	)		$	2,821,826

Schedule of income tax expenses reconciliation

		Three-Month Period Ended March 31,
Reconciliations		2018				2017
Statutory income tax rate			25	%			25	%
Non-deductible expense and change in valuation allowance			(7	%)			1	%
Non-taxable items			(3	%)			—
Effective tax rate			15	%			26	%

Schedule of deferred tax assets and liabilities

		March 31,				December 31,
		2018 (Restated)				2017
Deferred tax liabilities		$	—			$	—
Deferred tax assets:
Allowance for obsolete and slow-moving inventories		$	1,368			$	10,980
Impairment on property, plant and equipment			4,076,604				4,610,228
Exploration costs			1,979,924				1,905,347
Compensation costs of unexercised stock options			98,088				98,092
PRC tax losses			1,931,983				—
US federal net operating loss			27,100				—
Total deferred tax assets			8,115,067				6,624,647
Valuation allowance			(125,188	)			(98,092	)
Net deferred tax asset		$	7,989,879			$	6,526,555

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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.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
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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.

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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.

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