ADAMANT DRI PROCESSING & MINERALS GROUP

ADAMANT DRI PROCESSING & MINERALS GROUP deregistered its securities, ending its obligation to file reports with the SEC.

listing compliance notice

ADAMANT DRI PROCESSING & MINERALS GROUP deregistered its securities, ending its obligation to file reports with the SEC.

listing compliance notice

Adamant divested its original DRI iron ore business entirely, exchanging its Haixing Huaxin subsidiary -- owner of a $39 million Hebei production facility that had never reached full-scale output under Chinese environmental restrictions -- for 48.4 million of its own shares held by 16 exiting shareholders, completing the pivot toward the Shenzhen exhibition business.

material agreement

Adamant agreed to take VIE control of Shenzhen Dingshang Technology, a Chinese exhibition- and display-design business, issuing 3 million shares to its owner -- the first sign of a pivot away from the struggling DRI iron ore business, completed eight days later.

asset acquisition disposition

Adamant restated its 2016 financial statements after discovering nearly $1.7 million of unrecorded legal expenses tied to litigation against its own DRI subsidiary, Haixing Huaxin Mining Industry -- cutting both 2016 net income and stockholders' equity.

financial restatement

UHF Incorporated, a Delaware shell company, reverse-merged into a China-based iron ore processing business run through a VIE structure in Hebei Province and renamed itself Adamant DRI Processing and Minerals Group.

business combination