Current Report Filing (8-k)
May 24 2018 - 5:29PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES
AND EXCHANGE ACT OF 1934
Date
of report (date of earliest event reported): May 24, 2018
Adamant
DRI Processing and Minerals Group
(Exact
name of registrant as specified in its charter)
Nevada
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000-49729
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N/A
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(State
or Other Jurisdiction
of
Incorporation)
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(Commission
File
Number)
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(IRS
Employer
Identification
No.)
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Chunshugou
Luanzhuang Village
Zhuolu
County, Zhangjiakou
Hebei
Province, China
(Address
of principal executive offices)
Registrant’s
telephone number, including area code: 86 313-6732526
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant
under any of the following provisions:
[ ]
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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[ ]
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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[ ]
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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[ ]
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item
4.02
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Non-Reliance
on Previously Issued Financial Statements or a Related
Audit
Report or Completed Interim Review
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On
May 24, 2018, the board of directors of Adamant DRI Processing and Minerals Group (the “Company”) concluded, based
on the recommendation of management, that its consolidated financial statements for the year ended and as at December 31, 2016
(the “2016 Financial Statements”) included in its annual report on Form 10-K for the year ended December 31, 2016
(“2016 Form 10-K”), need to be restated as described below and that investors should no longer rely upon those consolidated
financial statements. The Company will file an amendment to its 2016 Form 10-K to restate its 2016 Financial Statements as soon
as practicable.
During
the preparation of the Company’s December 31, 2017 consolidated financial statements, the Company discovered that certain
expenses related to lawsuits against Haixing Huaxin Mining Industry Co., Ltd. which occurred during 2016 and for prior years were
not properly recorded and reflected in the 2016 Financial Statements. The Company estimates these non-recorded expenses were $959,739
for fiscal year 2016 and $736,476 for fiscal years prior to 2016. The aggregate effect will be to reduce the net income of the
Company for the year ended December 31, 2016 and to reduce stockholders’ equity of the Company at December 31, 2016.
The
Company’s management have discussed their findings and conclusions relating to the periods described above with MJF &
Associates, the Company’s current independent registered public accounting firm.
SIGNATURES
Pursuant
to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its
behalf by the undersigned thereunto duly authorized.
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ADAMANT
DRI PROCESSING AND MINERALS GROUP
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Dated:
May 24, 2018
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By:
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/s/
Changkui Zhu
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Changkui
Zhu
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Chief
Executive Officer
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