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INCOME TAXES (Tables)

3 Months Ended

Mar. 31, 2022

Income Tax Disclosure [Abstract]

Income Taxes - Schedule of Components of Income Tax Expense Benefit

The components of the provision for income tax benefit (expense) from continuing operations are:

Income Taxes - Schedule of Components of Income Tax Expense Benefit

		Three-Month Period Ended March 31,
		2022				2021
Current taxes – PRC		$	—			$	—
Deferred tax – PRC entities			95,695				743,709
Deferred taxes – US entity			—				15,957
Change in valuation allowance			—				(15,957	)
Tax Expense Benefit		$	95,695			$	743,709

Income Taxes - Schedule of Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax assets and liabilities at March 31, 2022 and December 31, 2021 are as follows:

Income Taxes - Schedule of Deferred Tax Assets and Liabilities

		March 31,				December 31,
		2022				2021
Deferred tax liabilities		$	—			$	—
Deferred tax assets:
Exploration costs			1,961,124				1,952,783
PRC tax losses			19,618,132				19,621,674
US federal net operating loss			1,322,647				1,308,335
Total deferred tax assets			22,901,903				22,882,792
Valuation allowance			(10,005,411	)			(9,982,758	)
Net deferred tax asset		$	12,896,492			$	12,900,034

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- References

No definition available.

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- 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 https://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319

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- 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 https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319

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