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INCOME TAXES (Tables)

9 Months Ended

Sep. 30, 2023

Income Tax Disclosure [Abstract]

Income Taxes - Schedule of Components of Income Tax Expense Benefit

The components of the income tax benefit from continuing operations are:

Income Taxes - Schedule of Components of Income Tax Expense Benefit 

		Three-Month Period Ended September 30,								Nine-Month Period Ended September 30,
		2023				2022				2023				2022
Current taxes – PRC		$	—			$	—			$	—			$	—
Deferred tax – PRC entities			483,524				(3,010,967	)			876,779				(4,356,283	)
Income Tax (Expense) Benefit		$	483,524			$	(3,010,967	)		$	876,779			$	(4,356,283	)

Income Taxes - Schedule of Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax assets and liabilities at September 30, 2023 and December 31, 2022 are as follows:

Income Taxes - Schedule of Deferred Tax Assets and Liabilities

		September 30,				December 31,
		2023				2022
Deferred tax liabilities		$	—			$	—
Deferred tax assets:
Exploration costs			1,736,028				1,787,571
PRC tax losses			12,948,587				12,211,867
US federal net operating loss			1,569,617				1,336,405
Total deferred tax assets			16,254,232				15,335,843
Valuation allowance			(10,250,146	)			(10,016,934	)
Net deferred tax asset		$	6,004,086			$	5,318,909

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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
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 9
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-9

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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
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 2
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-2

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