10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 10-Q

x	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended		March 31, 2023
	or

¨	TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from		to

Commission File Number 333-188152

ZHEN DING RESOURCES INC.

(Exact name of registrant as specified in its charter)

Delaware	11-3350926
(State or other jurisdiction of incorporation or organization)	(IRS Employer Identification No.)

Suite 111, 3900 Place De Java, Second Floor, Brossard, Quebec, Canada	J4Y 9C4
(Address of principal executive offices)	(Zip Code)

438-882-4148

(Registrant’s telephone number, including area code)

N/A

(Former name, former address and former fiscal year, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock	RBTK	OTC

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

x Yes ¨ No

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). 

x Yes ¨ No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a small reporting company or an emerging growth company. See the definitions of “large accelerated filer”, “accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer ¨	Accelerated filer ¨
Non-accelerated filer ¨	Smaller reporting company x
	Emerging growth company  ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act)  

¨ Yes x No

APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
PROCEEDINGS DURING THE PRECEDING FIVE YEARS

Check whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Exchange Act after the distribution of securities under a plan confirmed by a court.  

¨ Yes ¨ No

APPLICABLE ONLY TO CORPORATE ISSUERS

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.

110,411,348 common shares issued and outstanding as of May 17, 2023

ZHEN DING RESOURCES INC.

FORM 10-Q

TABLE OF CONTENTS

Contents

PART I - FINANCIAL INFORMATION
	Item 1.	Unaudited Condensed Consolidated Financial Statements	3
	Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	14
	Item 3.	Quantitative and Qualitative Disclosures About Market Risk	21
	Item 4.	Controls and Procedures	21
PART II - OTHER INFORMATION
	Item 1.	Legal Proceedings	22
	Item 1A.	Risk Factor	22
	Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	22
	Item 3.	Defaults Upon Senior Securities	22
	Item 4.	Mine Safety Disclosures	22
	Item 5.	Other Information	22
	Item 6.	Exhibits	22
SIGNATURES			23

PART I - FINANCIAL INFORMATION

Item 1. Financial Statements

Our unaudited interim financial statements for the three month period ended March 31, 2023 form part of this quarterly report. They are stated in United States Dollars (US$) and are prepared in accordance with generally accepted accounting principles in the United States. 

Zhen Ding Resources Inc.

Condensed Consolidated Balance Sheets

As of March 31, 2023 and December 31, 2022

	March 31,			December 31,
	2023 (Unaudited)			2022 (Audited)
Assets
Current Assets:
Cash	$	10,740		$	13,708
Total current assets	$	10,740		$	13,708
Liabilities and Stockholders’ Deficit
Current Liabilities:
Accounts payable and accrued liabilities	$	409,845		$	400,755
Accounts payable and accrued liabilities-related parties		5,700,503			5,555,132
Deferred revenue		132,006			131,462
Due to related parties		779,507			776,295
Short-term debt		154,500			154,500
Short-term debt-related parties		3,338,006			3,311,209
Total current liabilities		10,514,367			10,329,353
Stockholders’ deficit
Common stock, 150,000,000 authorized, $0.0001 par value, 110,410,348 shares issued and outstanding		11,041			11,041
Additional paid-in capital		13,687,082			13,687,082
Subscriptions receivable		(5,431	)		(5,431	)
Accumulated other comprehensive income		528,941			557,392
Accumulated deficit		(21,449,702	)		(21,345,909	)
Total deficit attributable to Zhen Ding Resources Inc.		(7,228,069	)		(7,095,825	)
Non-controlling interests		(3,275,558	)		(3,219,820	)
Total Stockholders’ deficit		(10,503,627	)		(10,315,645	)
Total liabilities and Stockholders’ deficit	$	10,740		$	13,708

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

3

Zhen Ding Resources Inc. 

Condensed Consolidated Statements of Operations and Comprehensive Loss 

For the three months ended March 31, 2023 and March 31, 2022 

(Unaudited) 

	March 31, 2023			March 31, 2022
Operating expenses:
General and administrative	$	12,364		$	19,748
Gain on sale of assets		-			(279	)
Total operating expenses		12,364			19,469
Operating loss		(12,364	)		(19,469	)
Other expense:
Interest expenses		(127,838	)		(135,444	)
Net loss		(140,202	)		(154,913	)
Loss attributable to non-controlling interests		36,409			39,196
Net loss attributable to Zhen Ding Resources Inc.	$	(103,793	)	$	(115,717	)
Basic and diluted loss per common share	$	(0.00	)	$	(0.00	)
Basic and diluted weighted average number of common shares outstanding		110,411,348			110,411,348
Comprehensive loss:
Net loss	$	(140,202	)	$	(154,913	)
Other comprehensive income (loss):
Foreign currency translation adjustments		(47,780	)		(52,260	)
Total comprehensive loss		(187,982	)		(207,173	)
Comprehensive loss attributable to non-controlling interest		55,738			54,873
Comprehensive loss attributable to Zhen Ding Resources Inc.	$	(243,720	)	$	(262,046	)

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

4

Zhen Ding Resources Inc.

Condensed Consolidated Statements of Cash Flows

For the three months ended March 31, 2023 and March 31, 2022

(Unaudited) 

	March 31,			March 31,
	2023			2022
Cash flows from operating activities
Net loss	$	(140,202	)	$	(154,913	)
Adjustment to reconcile net loss to net cash used in operating activities:
Gain on sale of property and equipment		-			(279	)
Changes in operating assets and liabilities
Accounts payable and accrued liabilities		9,090			61,198
Accounts payable and accrued liabilities-related parties		120,927			74,646
Net cash used in operating activities		(10,185	)		(19,348	)
Cash flows from investing activities
Payments for the purchase of fixed assets		-			279
Net cash provided (used) for investing activities		-			279
Cash flows from financing activities
Proceeds from borrowings on short-term debt – related parties		13,500			(819	)
Net cash provided by financing activities		13,500			(819	)
Foreign currency translation		(6,283	)		3,245
Net change in cash		(2,968	)		(16,643	)
Cash - beginning of the period		13,708			29,782
Cash - end of the period	$	10,740		$	13,139
Supplemental cash flow information:
Cash paid for interest	$	-		$	-
Cash paid for income tax	$	-		$	-

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

5

Zhen Ding Resources Inc.

Condensed Consolidated Statement of Changes in Stockholders’ Deficit

For the periods ended March 31, 2023 and March 31, 2022

(Unaudited)

	Common Stock				Additional Paid in		Subscriptions			Accumulated Other Comprehensive			Accumulated			Non- controlling			Total Stockholders'
	Shares		Par		Capital		Receivable			Income			Deficit			Interest			Deficit
Balances, December 31, 2022	$	110,411,348		11,041	$	13,687,082	$	(5,431	)	$	557,392		$	(21,345,909	)	$	(3,219,820	)	$	(10,315,645	)
Foreign currency translation adjustment		-		-		-		-			(28,451	)		-			(19,329	)		(47,780	)
Net loss		-		-		-		-			-			(103,793	)		(36,409	)		(140,202	)
Balances, March 31, 2023	$	110,411,348		11,041	$	13,687,082	$	(5,431	)	$	528,941		$	(21,449,702	)	$	(3,275,558	)	$	(10,503,627	)

	Common Stock				Additional Paid in		Subscriptions			Accumulated Other Comprehensive			Accumulated			Non- controlling			Total Stockholders'
	Shares		Par		Capital		Receivable			Income			Deficit			Interest			Deficit
Balances, December 31, 2021	$	110,411,348		11,041	$	13,687,082	$	(5,431	)	$	7,272		$	(20,910,525	)	$	(3,307,682	)	$	(10,518,243	)
Foreign currency translation adjustment		-		-		-		-			(36,583	)		-			(15,677	)		(52,260	)
Net loss	$	-		-		-		-			-			(115,717	)		(39,196	)		(154,913	)
Balances, March 31, 2022		110,411,348		11,041	$	13,687,082	$	(5,431	)	$	(29,311	)	$	(21,026,242	)	$	(3,362,555	)	$	(10,725,416	)

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

6

Zhen Ding Resources Inc.

Notes to Consolidated Financial Statements

(Unaudited)

Note 1.  Description of Business

Zhen Ding Resources Inc. (formerly Robotech Inc.) (the “Company”, “Zhen Ding DE”, or “ZDRI”) was incorporated in the State of Delaware in September 1996 and began its business activities in the development and marketing of specialized technological equipment. In early 2010, the business direction of our Company was changed to seek opportunities to focus particularly on searching for companies engaged in the mining of gold, silver and copper.

The Company indirectly owns 70% of a Chinese Joint Venture entity, Zhen Ding Mining Co. Ltd. (“Zhen Ding JV” or “JXZD”). This indirect ownership is through a 100% ownership of a California company Z&W, Zhen Ding Corporation (“Z&W CA”).

Our Company, through Z&W CA, participates in a joint venture with Jing Xian Xinzhou Gold Co., Ltd. (“Xinzhou Gold”), a company organized under the laws of the People’s Republic of China (“PRC”). The joint venture company, JXZD, is 70% held by our Company through Z&W CA who has the mineral exploration, mineral mining and gold mining rights to a property located in the southwestern part of Anhui province in China, near the town of Jing Xian. Xinzhou Gold, the other 30% partner of JXZD is the actual named owner of the various licenses used by JXZD and transferred all rights emanating from these licenses as part of the joint venture agreement between Z&W CA and Xinzhou Gold. Our Company’s primary activity, through JXZD, is ore processing and production in China.

In 2017, the Company shut down its mineral processing plant in China due to insufficient working capital. The Company had limited operations and plans to resume selling processed ore concentrate as soon as possible to provide Zhen Ding JV the cash flow needed to keep its plant operating and to maintain a viable work force for future expansion.

Note 2. Summary of Significant Accounting Policies

The summary of significant accounting policies presented below is designed to assist in understanding the Company’s financial statements. Such financial statements and accompanying notes are the representations of the Company’s management, which is responsible for the integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States of America (“U.S. GAAP”) in all material respects and have been consistently applied in preparing the accompanying financial statements.

Basis of Presentation and Principles of Consolidation

These unaudited condensed consolidated financial statements have been prepared in accordance rules and regulations of the Securities and Exchange Commission (“SEC”) and generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Regulation S-X. Accordingly, the unaudited consolidated financial statements do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, we have included all adjustments considered necessary for a fair presentation and such adjustments are of a normal recurring nature. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements for the year ended December 31, 2022 and notes thereto and other pertinent information contained in our Form 10-K as filed with the SEC on March 30, 2022. The results of operations for the three months ended March 31, 2023, are not necessarily indicative of the results to be expected for the full fiscal year ending December 31, 2023.

The consolidated financial statements include the accounts of the Company, its wholly-owned subsidiaries Z&W CA and its majority owned subsidiary JXZD. All inter-company transactions and balances were eliminated. The portion of the income applicable to non-controlling interests in subsidiary undertakings is reflected in the consolidated statements of operations.

Reclassifications

Certain prior year amounts have been reclassified to conform to the current period presentation. These reclassifications had no impact on net earnings (loss) or and financial position.

7

Use of Estimates and Assumptions

The Company prepares its financial statements in conformity with U.S. GAAP, which requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Foreign Currency Adjustments

Assets and liabilities recorded in foreign currencies are translated at the exchange rate on the balance sheet date. Revenue and expenses are translated at average rates of exchange prevailing during the year. Any translation adjustments are reflected as a separate component of stockholders’ equity (deficit) and have no effect on current earnings. Gains and losses resulting from foreign currency transactions are included in current results of operations. During the periods ended March 31, 2023 and 2022, the Company had aggregate foreign currency translation gains (loss) of ($47,780) and ($52,260), respectively.

Cash

Cash consists of amounts denominated in US dollars. The Company does not, at any time, maintain cash in deposit accounts in excess of Federal Deposit Insurance Corporation (“FDIC”) limits. The Company has not experienced any losses on such accounts. The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. At March 31, the Company had no cash equivalents.

Income Taxes

An asset and liability approach is used for financial accounting and reporting for income taxes. Deferred income taxes arise from temporary differences between income tax and financial reporting and principally relate to recognition of revenue and expenses in different periods for financial and tax accounting purposes and are measured using currently enacted tax rates and laws. In addition, a deferred tax asset can be generated by net operating loss carry forwards. If it is more likely than not that some portion or all of a deferred tax asset will not be realized, a valuation allowance is recognized. The Company has tax losses that may be applied against future taxable income. The potential tax benefit arising from these loss carryforwards are offset by a valuation allowance due to uncertainty of profitable operations in the future.

The Company follows the FASB guidance for how uncertain tax positions should be recognized, measured and presented in the financial statements. This requires the evaluation of tax positions taken or expected be taken in the course of preparing the Company’s tax returns to determine whether the tax positions are “more-likely-than-not” of being sustained “when challenged” or “when examined” by the applicable tax authority. Tax positions not deemed to meet the more-likely-than-not threshold would be recorded as a tax expense and liability in the current year. Management has evaluated the Company’s tax positions and concluded that the Company has taken no uncertain tax positions that require adjustment to the financial statements to comply with the provisions of this guidance as of March 31, 2023. The Company is not currently under audit by any tax jurisdiction. The Company’s open taxes years are from 2018 to 2022.

Fair Values of Financial Instruments

Management believes that the carrying amounts of the Company’s financial instruments, consisting primarily of cash, , due to related parties, short term debt and short term debt – related parties, approximated their fair values as of March 31, 2023 and December 31, 2022, due to their short-term nature.

Non-controlling Interests

Non-controlling interests in the Company’s subsidiaries are reported as a component of equity, separate from the parent’s equity. Purchase or sale of equity interests that do not result in a change of control are accounted for as equity transactions. Results of operations attributable to the minority interest are included in our consolidated results of operations and, upon loss of control, the interest sold, as well as interest retained, if any, will be reported at fair value with any gain or loss recognized in earnings.

8

Basic and Diluted Earnings (Loss) Per Common Share

The basic net loss per common share is computed by dividing the net loss by the weighted average number of common shares outstanding. Diluted net loss per common share is computed by dividing the net loss adjusted on an “as converted” basis, by the weighted average number of common shares outstanding plus potential dilutive securities. For all periods presented, there were no potentially dilutive securities outstanding.

9

Recently Issued Accounting Pronouncements

In August 2020, the FASB issued ASU 2020-06, ASC Subtopic 470-20 “Debt—Debt with “Conversion and Other Options” and ASC subtopic 815-40 “Hedging—Contracts in Entity’s Own Equity”. The standard reduced the number of accounting models for convertible debt instruments and convertible preferred stock. Convertible instruments that continue to be subject to separation models are (1) those with embedded conversion features that are not clearly and closely related to the host contract, that meet the definition of a derivative, and that do not qualify for a scope exception from derivative accounting; and, (2) convertible debt instruments issued with substantial premiums for which the premiums are recorded as paid-in capital. The amendments in this update are effective for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. The Company adopted January 1, 2022 and noted no impact on its consolidated financial statements.

In March 2022, the FASB issued ASU 2022-02, ASC Subtopic 326 “Credit Losses”: Troubled Debt Restructurings and Vintage Disclosures. Since the issuance of Accounting Standards Update No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, the Board has provided resources to monitor and assist stakeholders with the implementation of Topic 326. Post-Implementation Review (PIR) activities have included forming a Credit Losses Transition Resource Group, conducting outreach with stakeholders of all types, developing educational materials and staff question-and-answer guidance, conducting educational workshops, and performing an archival review of financial reports. ASU No. 2022-02 is effective for annual and interim periods beginning after December 15, 2022. The Company does not expect the standard to have a significant impact on its financial statements.

The Company has considered all other recently issued accounting pronouncements and does not believe the adoption of such pronouncements will have a material impact on its consolidated financial statements

Note 3. Going Concern

These financial statements have been prepared on a going concern basis, which implies the Company will continue to meet its obligations and continue its operations for the next twelve months. As of March 31, 2023, the Company had accumulated losses of $21,449,702 since inception and had a working capital deficit of $10,503,627. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern. The continuation of the Company as a going concern is dependent upon financial support from its stockholders, the ability of the Company to obtain necessary equity financing to continue operations, and the attainment of profitable operations. Realization value may be substantially different from carrying values as shown and these financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

Note 4. Short-Term Debt

The following table represents the details of the short-term debts at March 31, 2023 and December 31, 2022:

Issuance date	Maturity		Interest Rate	03.31.2023		12.31.2022
October 2, 2019		October 1, 2020	1% per month	$	10,000	$	10,000
January 15, 2020		January 15, 2021	1% per month		22,000		22,000
April 16, 2020		April 15, 2021	1% per month		13,500		13,500
July 2, 2020		July 1, 2021	1% per month		18,500		18,500
October 23, 2020		October 22, 2021	1% per month		6,500		6,500
January 5, 2021		January 15, 2022	1% per month		22,500		22,500
March 10, 2021		March 10, 2022	1% per month		20,000		20,000
July 13, 2021		July 13, 2022	1% per month		16,500		16,500
December 14, 2021		December 14, 2022	1% per month		25,000		25,000
				$	154,500	$	154,500

10

According to the loan agreements, there is not any additional interest and penalty for the loans passing maturity date.

During the three months ended March 31, 2023 and 2022, the Company recorded interest expense and accrued interest of $4,635 and $4,635, respectively and is included in interest expense in the consolidated statements of operations.

Note 5. Related Party Transactions

Accounts payable

As of March 31, 2023 and December 31, 2022, the Company had payables of $779,507 and $776,295, respectively, to Xinzhou Gold. These payables bear no interest, are unsecured and are due on demand.

Short-term debt

As of March 31, 2023 and December 31, 2022, the Company had short-term debts to related parties of $3,338,006 and $3,311,209, respectively. The details of the loans are described as below.

 At March 31, 2023:

Name	Relationship to the Company	Amount		Interest Rate			Start Date	Maturity
Shor-term debt
Wei De Gang	CEO & Legal person of JXZD	$	2,588,782		15	%	May 31, 2011	May 31, 2014
Zhao Yan Ling	Former office manager of JXZD, wife of Zhou Zhi Bin		15,288		15	%	January 1, 2011	December 31, 2013
Zhou Zhi Bin	Former CEO & Legal person of JXZD		7,280		15	%	January 1, 2011	December 31, 2013
Tang Yong Hong	Manager of JXZD		313,829		15	%	February 28, 2015	February 28, 2016
Yan Chun Yan	Accountant of JXZD		8,345		15	%	August 31, 2014	August 31, 2015
Victor Sun	Shareholder of ZDRI		50,282				January 1, 2011	On Demand
Victor Sun	Shareholder of ZDRI		12,000		15	%	April 25, 2022	May 2, 2023
Victor Sun	Shareholder of ZDRI		13,000		15	%	May 2, 2022	May 2, 2023
Victor Sun	Shareholder of ZDRI		12,000		15	%	July 12, 2022	July 12, 2023
Victor Sun	Shareholder of ZDRI		12,500		15	%	December 6, 2022	December 5, 2023
Victor Sun	Shareholder of ZDRI		13,500		15	%	January 11, 2023	January 11, 2024
Current portion of long-term debt
Zhou Qiang	Office manager of JXZD		291,200		15	%	December 18, 2012	December 18, 2015
Total		$	3,338,006

11

At December 31, 2022:

Name	Relationship to the Company	Amount		Interest Rate			Start Date	Maturity
Shor-term debt
Wei De Gang	CEO & Legal person of JXZD	$	2,578,114		15	%	May 31, 2011	May 31, 2014
Zhao Yan Ling	Former office manager of JXZD, wife of Zhou Zhi Bin		15,225		15	%	January 1, 2011	December 31, 2013
Zhou Zhi Bin	Former CEO & Legal person of JXZD		7,250		15	%	January 1, 2011	December 31, 2013
Tang Yong Hong	Manager of JXZD		312,536		15	%	February 28, 2015	February 28, 2016
Yan Chun Yan	Accountant of JXZD		8,302		15	%	August 31, 2014	August 31, 2015
Victor Sun	Shareholder of ZDRI		50,282				January 1, 2011	On Demand
Victor Sun	Shareholder of ZDRI		12,000		15	%	April 25, 2022	May 2, 2023
Victor Sun	Shareholder of ZDRI		13,000		15	%	May 2, 2022	May 2, 2023
Victor Sun	Shareholder of ZDRI		12,000		15	%	July 12, 2022	July 12, 2023
Victor Sun	Shareholder of ZDRI		12,500		15	%	December 6, 2022	December 5, 2023
Current portion of long-term debt
Zhou Qiang	Office manager of JXZD		290,000		15	%	December 18, 2012	December 18, 2015
Total		$	3,311,209

12

As of March 31, 2023, and December 31, 2022, the Company had accrued interest payable to the related parties of $5,700,503 and $5,555,132, respectively. For the periods ended March 31, 2023, and 2022, the Company recorded interest expenses of $153,682 and $135,444, respectively. The Company has received no demands for repayment of matured debt instruments.

Note 6. Accounts Payable and Accrued Liabilities

As of March 31, 2023 and December 31, 2022, the Company had accounts payable of $189,003 and $184,684 respectively. As of March 31, 2023, and December 31, 2022, the Company had accrued liabilities of $220,842 and $216,072. 

Note 7. Deferred Revenues

As of March 31, 2023 and December 31, 2022, the Company had deferred revenue of $132,006 and $131,462 related to receipts of payment for unprocessed ore from Xinzhou Gold Co. Ltd, respectively, related to advances that the Company received from its customers. The Company has received no demands for repayment of deferred revenues.

Note 8. Contingencies

Concentration of Credit Risk

Substantially all of the Company’s bank accounts are in banks located in The People’s Republic of China and are not covered by protection similar to that provided by the FDIC on funds held in United States banks. 

Note 9. – COVID-19

On January 30, 2020, the World Health Organization (“WHO”) announced a global health emergency in response to a new strain of a coronavirus (the “COVID-19 outbreak”). In March 2020, the WHO classified the COVID-19 outbreak as a pandemic based on the rapid increase in exposure globally. The full impact of the COVID-19 outbreak continues to evolve as of the date of this report .Management is actively monitoring the global situation and its effects on the Company’s industry, financial condition, liquidity, and operations. Given the daily evolution of the COVID-19 outbreak and the global responses to curb its spread, the Company is not able to estimate the effects of the COVID-19 outbreak on its results of operations, financial condition, or liquidity for fiscal year 2020.However, if the pandemic continues, it may have a material adverse effect on the Company’s results of future operations, financial position, and liquidity in fiscal year 2023.

Note 10. Subsequent Events

The Company does not have any events subsequent to March 31, 2023 through May 17, 2023 the date the financial statements were issued for disclosure consideration.

13

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

FORWARD LOOKING STATEMENTS

This quarterly report contains forward-looking statements. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expects”, “plans”, “anticipates”, “believes”, “estimates”, “predicts”, “potential” or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Except as required by applicable law, including the securities laws of the United States, we do not intend to update any of the forward-looking statements to conform these statements to actual results.

Our unaudited financial statements are stated in United States Dollars (US$) and are prepared in accordance with United States Generally Accepted Accounting Principles. The following discussion should be read in conjunction with our financial statements and the related notes that appear elsewhere in this quarterly report. The following discussion contains forward-looking statements that reflect our plans, estimates and beliefs. Our actual results could differ materially from those discussed in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed below and elsewhere in this quarterly report.

Our financial statements are stated in United States Dollars (US$) and are prepared in accordance with United States Generally Accepted Accounting Principles.

In this quarterly report, unless otherwise specified, all dollar amounts are expressed in United States dollars and all references to “common shares” refer to the common shares in our capital stock.

As used in this quarterly report, the terms “we”, “us”, “our” and “our company” mean Zhen Ding Resources Inc., unless otherwise indicated.

General Overview

We are engaged in seeking business partnership opportunities with companies that are in the field of exploration and extraction of precious and/or base metals, primarily in China, which are in need of funding and improved management.  We would provide the necessary management expertise and assist in financing efforts of these mining operations.  In exchange, we would acquire metal ores produced by these mines and process the ores in our ore milling plant and sell the ore concentrates to metal refineries.  Our only operating company is Zhen Ding JV, which engages in the processing of metal ore and the selling of ore concentrates of gold, silver, lead, zinc and copper at purity levels ranging from 65% to 80%.  Zhen Ding JV purchases metal ore in rock form from its joint venture partner, Xinzhou Gold, which has rights to explore and mine ore from a property located in the southwestern part of Anhui province in China.

Corporate Background

Our principal office is located at Suite 111, 3900 Place De Java, Second Floor, Brossard, Quebec, Canada J4Y 9C4.  Our operational offices are located at:  Zhen Ding Mining Co. Ltd., Wuxi County, Town of Langqiao, Jing Xian, Anhui Province, China, Tel: 86-6270-9018.

We were incorporated in September 1996 as Robotech Inc., and began our business in the development and marketing of specialized technological equipment. At that time we estimated that we would require approximately $6,000,000 to realize our plans. Through the year of 2003, we had not reached our financing goals and therefore abandoned that particular business plan. Since that time, we have been seeking suitable candidates for acquisition.

In the past decade there has been a worldwide recovery in the price and interest in precious metals, minerals and industrial commodities. Such interest has been fueled to a large degree, by the economic awakening of the two most populous nations, China and India and further bolstered by a sharp decline in the US dollar. A particular beneficiary of this revival has been the market prices of gold, silver and copper. Thus, in early 2010, the business direction of our company was changed to seek to profit from this revival and we began to focus our acquisition search in that industry, particularly on companies engaged in the mining of gold, silver and copper.

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In January 2012, our Board of Directors, with authorization from a majority of our shareholders, made an offer to the shareholders of Zhen Ding Resources Inc., a Nevada corporation (“Zhen Ding NV”), to acquire, at the very least, the majority of their common shares, and, if available, up to 100% ownership. 

Zhen Ding NV through its wholly owned subsidiary, Z&W Zhen Ding Corporation, a California corporation (“Zhen Ding CA”), has been engaged in a joint venture with Jing Xian Xinzhou Gold Co., Ltd. (“Xinzhou Gold”), a company organized under the laws of the People’s Republic of China (“PRC”). The joint venture company, Zhen Ding Mining Co. Ltd. (“Zhen Ding JV”) is 70% held by Zhen Ding NV through Zhen Ding CA.  It is a common practice in China to append the name of the town or city where an enterprise is located to its legally incorporated name. Thus many documents referencing Zhen Ding JV may refer to it as Jing Xian Zhen Ding Mining Co. Ltd. Zhen Ding JV engages in the processing of metal ore and the selling of ore concentrates of gold, silver, lead, zinc and copper at purity levels ranging from 65% to 80%.  Zhen Ding JV purchases metal ore in rock form from Xinzhou Gold.

On March 8, 2012, we changed our name from Robotech, Inc. to Zhen Ding Resources Inc., in anticipation of the acquisition of Zhen Ding NV. Our trading symbol, RBTK, however remained unchanged.

During 2012, a total of 50,746,358 shares of the issued and outstanding common stock of Zhen Ding NV were tendered to our company. On August 13, 2013, an additional 13,100,000 shares were tendered to us. Thus, as of August 13, 2013 the shareholders of Zhen Ding NV had tendered 100% of the issued and outstanding shares of common stock, representing 100% of the issued and outstanding equity of Zhen Ding NV to us.

On October 23, 2013, we issued 122,440 shares of our common stock, on a one-for-one basis, to the tendering shareholders of Zhen Ding NV making Zhen Ding NV a wholly owned subsidiary of our company.

On October 28, 2013, we dissolved Zhen Ding NV by merging it with and into Zhen Ding DE.  As a result, Zhen Ding CA became a wholly-owned subsidiary of Zhen Ding DE.  Zhen Ding CA continues to exist as an intermediate holding company with no operations of its own, but which in turn owns our 70% interest in Zhen Ding JV.

The following illustrates our corporate and share ownership structure: 

15

 

Our Current Business

Background

Presently, we conduct our operations exclusively through Zhen Ding JV, our joint venture company. However, we continue to look for other attractive potential acquisition targets in the mining industry.

Our joint venture, Zhen Ding JV, is equipped to process ore mined by our joint venture partner Xinzhou Gold when in operation.  Zhen Ding JV purchases the ore in rock form from Xinzhou Gold and processes the ore into our final product, which is a gold, silver, lead, zinc and copper ore concentrate. We estimate that our processed product is 65% to 80% pure. The product is then sold to refineries which further purify and separate the concentrate.  Zhen Ding JV also arranges all exploration, mining process and operations, and financial and administrative support for Xinzhou Gold’s mine, known as the Wuxi Gold Mine.

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We purchase all of our raw material from Xinzhou Gold for our ore processing operation and rely solely on Xinzhou Gold for our supply of ores. The veins most recently excavated by Xinzhou Gold in the permitted areas of our mines are very low grade and, as such, the production is minimal. The higher yielding and therefore more profitable veins run outside Xinzhou Gold’s permitted mining area boundaries under its current license.

Xinzhou Gold applied for an extension of the permitted mining area, however, the application was rejected by the government in December 2016 due to Xinzhou Gold’s insufficient working capital. Xinzhou Gold intends to reapply for an extension of the permitted mining area when it is able to demonstrate sufficient working capital to drill the extended area. However, if sufficient working capital is unavailable, or should the application be denied on other grounds, we would not be able to secure another source with higher grade ores for our processing plant, which would severely limit our ability to execute our plan of operation and our potential profitability.  

At the beginning of fiscal 2015, we idled our mineral processing plant due to an overall downturn in the demand and market prices for our concentrates. This downturn coincided with an overall economic recession in China and downturn in the global commodities market during fiscal 2015 through 2016.

Recent Activities

Since idling our mineral processing plant, we have actively sought an investment of between $3,000,000 and $4,000,000, which we believe is required to expand Xinzhou Gold’s mining permit, and which would allow us to resume our ore extraction and refinery activities. However, as at the date of this report we have not successfully secured any financing commitment.

Due to our continued inability to raise sufficient financing to expand Xinzhou Gold’s mining permit, Xinzhou Gold elected to reapply for a new drilling permit based on a scaled-down drilling plan. The resulting new permit application, which was submitted to the Anhui Province Land & Resources Bureau for approval on March 8, 2017, sought renewed permission to continue drilling in the areas directly adjacent to our concentration plant. That application was subsequently rejected due to environmental concerns regarding wastewater runoff onto nearby agricultural lands. Accordingly, during the last six months of fiscal 2019, the Company was primarily devoted to refining its environmental impact compliance proposal and design in consultation with government officials. A new proposal and design was submitted to the environmental protection authorities on June 30, 2019.

During the fall of 2019, the Zhen Ding JV received feedback from the Land & Resource Bureau regarding its June 30, 2019 proposal and design submission. The authorities requested certain improvements to the tailing pond and wastewater treatment facility on the proposed drilling site as a condition of granting any new drilling permit. Zhen Ding JV subsequently retained a new environmental expert to re-design the tailing pond treatment facility. The new design would employ automated pumping systems to optimize water transfer while lowering both cost and risk. The design affords immediate control of pressure and flowrate, as well as real-time monitoring of pump speed, flowrate, inlet/outlet water pressures, water temperature, engine performance, and engine fuel level. The improved water treatment design report was submitted to the government in December 2019 with an estimated budget of approximately $1.75 million over two years. The Company expected a ruling on the new proposal in March 2020, however the ruling was delayed due to COVID-19 containment measures in Anhui province which resulted in reduced staffing and operations across all levels of the public service. More recently, the Company was advised that no ruling would be provided on the proposal without additional 3^rd party geo-technical research to support the viability of the Company’s design. The estimated cost of such additional research is $500,000.

Financing and Restructuring Efforts

During fiscal 2019 management entered into negotiations with various related party lenders regarding a possible restructuring or conversion of related party debt. Effective December 14, 2020, we issued an aggregate of 46,442,550 shares of our common stock to ten lenders at the price of $0.02 per share in consideration for the cancellation of $928,851 of interest bearing debt payable on demand to the lenders in respect of cash advances made by them to the Company.

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Additionally, in light of robust gold prices during 2022 and 2023, management has been entertaining proposals from prospective investors and partners seeking to participate in a smaller drilling operation and other joint venture projects and transactions.

Going forward, we will continue to seek sufficient financing to re-establish our mineral extraction and refining operations. We will also seek to identify and evaluation businesses opportunities and other strategic transactions on an ongoing basis with a view toward diversifying our business and optimizing shareholder value.

Summary of Operations during the Three Months Ended March 31, 2023

In light of the continued strength of gold prices during the first quarter of 2023, our management continues to seek proposals from prospective investors and partners seeking to participate in a smaller drilling operation and other joint venture projects and transactions. However, there is no assurance that a suitable opportunity will be identified or secured.

During the first quarter of 2023 the Company collaborated with a local mining school to provide student training.

Going forward, we will continue to seek sufficient financing to re-establish our mineral extraction and refining operations. We will also seek to identify and evaluation businesses opportunities and other strategic transactions on an ongoing basis with a view toward diversifying our business and optimizing shareholder value.

Results of Operations

Three Months Ended March 31, 2023 compared to the Three Months Ended March 31, 2022

The following table summarizes key items of comparison and their related increase (decrease) for the three-month periods ended March 31, 2023 and 2022, respectively:

	Three Months Ended March 31, 2023		Three Months Ended March 31, 2022			Percentage Increase (Decrease) Between Three Month Periods Ended March 31, 2023 and March 31, 2022
General and administrative	$	12,364	$	19,748			(37.39	)%
Gain on sale of assets	$	-	$	(279	)		(100	)
Interest Expense	$	127,838	$	135,444			(5.61	)%
Net loss	$	140,202	$	154,913			(9.49	)%

We did not earn any revenues during the three months ended March 31, 2023 or 2022.  

We had a net loss of $140,202 for the three months ended March 31, 2023, representing a 9.49% decrease from our net loss of $154,913 for the three months ended March 31, 2022. The change in our results over the two periods corresponded with decreases in our general & administrative expense and interest expense during 2023.

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Liquidity and Capital Resources 

Working Capital 

	At March 31, 2023			At December 31, 2022
Current assets	$	10,740		$	13,708
Current liabilities	$	10,514,367	)	$	10,329,353	)
Working capital deficit	$	(10,503,627	)	$	(10,315,645	)

As of March 31, 2023, we had current assets of $10,740 consisting of cash and cash equivalents, current liabilities of $10,514,367 and a working capital deficit of $10,503,627. This compares to our current assets of $13,708 (consisting of cash and cash equivalents), current liabilities of $10,329,353, and working capital deficit of $10,315,645 as of December 31, 2022. The decrease in cash and increase in liabilities during the most recent period corresponded with an increase in short-term debt, and in accounts payable to third parties and to related parties.

As of March 31, 2023, we had accumulated losses of $21,449,702 since inception. We anticipate generating losses and, therefore, may be unable to continue operations further in the future.

Cash Flows

	Three Months Ended
	March 31,
	2023			2022
Net cash from (used in) operating activities	$	(10,185	)	$	(19,348	)
Net cash provided by investing activities	$				279
Net cash provided by (used in) financing activities	$	13,500		$	(819	)
Net increase (decrease) in cash during period	$	(2,968	)	$	(16,643	)

Operating Activities

Net cash used in operating activities during the three months ended March 31, 2023 was $10,185, a 47.33% decrease from the $19,348 in net cash gained from operating during the three months ended March 31, 2022. The decrease corresponded with an overall decrease in account payable and accrued liabilities during the most recent period. During the three months ended March 31, 2023 and 2022, we had no sales and did not purchase any raw materials.

Investing Activities

No cash was received from or used in investing activities during the three months ended March 31, 2023.

Financing Activities

Cash used in financing activities during the three months ended March 31, 2023 was $13,500, which was a 1,548.35% increase from the $819 cash used in financing activities during the three months ended March 31, 2022. The increase was a result of an increase is short-term loans from related parties received during the most recent period.

Plan of Operation

Our operating plan for the 12 months beginning from April 1, 2023 is as follows:

Our operating plan for the balance of fiscal 2023 is to seek an investment of approximately US$3,350,000, which we believe is required to restart our mineral processing plant in China and extend Xinzhou Gold’s mining permit, which would allow us to resume our ore extraction and refinery activities, although we have not secured any financing commitment thus far.

The funds raised would be used to:

1. upgrade tailings pond and water treatment facility;

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2. design and implement groundwater remediation and protection measures;

3. extend and expand permitted mining area of Xinzhou Gold to access higher concentrate ore veins;

4. resume ore exploration and extraction activities;

5. re-start the mill;

6. re-test the mill;

7. develop expansion plans for our plant capacity;

8. drill additional holes near the concentration plant; and

9. undertake at least three deep drill holes in the permitted area to re-commence greater milling operations as soon as possible.

This will involve re-testing the plant equipment and re-hiring all personnel that was laid off as a result of the mining halt. We will reactively seek partnerships with mining enterprises primarily active in the gold, silver and/or copper fields and subject to the general parameters described earlier to increase our supply of raw material. In addition, we will look for a partner in the natural resources field in order to enhance our future capability to access necessary funding and seek other businesses opportunities and other strategic transactions with a view toward diversifying our business and attracting new investment.  

In order to execute our business plan over the next twelve months we expect to expend funds as follows:

Estimated Net Expenditures During the Next Twelve Months

	$
Implementation of Environmental Planning, Remediation, and Protection Measures		1,000,000
Restart mill and mining related operations		3,000,000
General, Administrative Expenses		100,000
Consulting & Permit Fees		150,000
Contingency		250,000
Total		4,500,000

In light of our nominal cash resources, we expect that we will be required to raise approximately $4,500,000 in order to execute our proposed business plan during fiscal 2023.  In the event that we are unable to raise sufficient funds to carry out our planned investment in drilling equipment and our planned exploration program, we anticipate that we will require a minimum of $350,000 to maintain our current business operations without engaging in any significant exploration activities or investment. We have suffered recurring losses from operations. The continuation of our company is dependent upon our company attaining and maintaining profitable operations and raising additional capital as needed.

The continuation of our business is dependent upon obtaining further financing, a successful program of exploration and/or development, and, finally, achieving a profitable level of operations. The issuance of additional equity securities by us could result in a significant dilution in the equity interests of our current stockholders. Obtaining commercial loans, assuming those loans would be available, will increase our liabilities and future cash commitments. 

There are no assurances that we will be able to obtain further funds required for our continued operations. As noted herein, we are pursuing various financing alternatives to meet our immediate and long-term financial requirements. There can be no assurance that additional financing will be available to us when needed or, if available, that it can be obtained on commercially reasonable terms. If we are not able to obtain the additional financing on a timely basis, we will be unable to conduct our operations as planned, and we will not be able to meet our other obligations as they become due. In such event, we will be forced to scale down or perhaps even cease our operations.

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Future Financings

We anticipate continuing to rely on equity sales of our common stock in order to continue to fund our business operations. Issuances of additional shares will result in dilution to our existing stockholders. There is no assurance that we will achieve any additional sales of our equity securities or arrange for debt or other financing to fund our planned business activities.

We presently do not have any arrangements for additional financing for the expansion of our exploration operations, and no potential lines of credit or sources of financing are currently available for the purpose of proceeding with our plan of operations.

Off-Balance Sheet Arrangements

We have no off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, and capital expenditures or capital resources that are material to stockholders.

Critical Accounting Policies

Foreign Currency Adjustments

Assets and liabilities recorded in foreign currencies are translated at the exchange rate on the balance sheet date. Revenue and expenses are translated at average rates of exchange prevailing during the year. Any translation adjustments are reflected as a separate component of stockholders’ equity (deficit) and have no effect on current earnings. Gains and losses resulting from foreign currency transactions are included in current results of operations.

Non-controlling Interest

Non-controlling interests in our company’s subsidiaries are reported as a component of equity, separate from the parent’s equity. Purchase or sale of equity interests that do not result in a change of control are accounted for as equity transactions. Results of operations attributable to the minority interest are included in our consolidated results of operations and, upon loss of control, the interest sold, as well as interest retained, if any, will be reported at fair value with any gain or loss recognized in earnings.

Revenue Recognition

Revenue is recognized when products are shipped, title and risk of loss is passed to the customers and collection is reasonably assured. Payments received prior to the satisfaction of above criteria are deferred.

Item 3. Quantitative and Qualitative Disclosures About Market Risk

As a “smaller reporting company”, we are not required to provide the information required by this Item.

Item 4. Controls and Procedures

Management’s Report on Disclosure Controls and Procedures

We maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed in our reports filed under the Securities Exchange Act of 1934, as amended, is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms, and that such information is accumulated and communicated to our management, including our president (our principal executive officer) and our chief financial officer (our principal financial officer and principle accounting officer) to allow for timely decisions regarding required disclosure.

As of the end of the quarter covered by this report, we carried out an evaluation, under the supervision and with the participation of our president (our principal executive officer) and our chief financial officer (our principal financial officer and principle accounting officer), of the effectiveness of the design and operation of our disclosure controls and procedures. Based on the foregoing, our management concluded that our internal controls are not effective. due to material weaknesses in our control environment and financial reporting process, lack of a functioning audit committee, a majority of independent members and a majority of outside directors on our Board of Directors, resulting in ineffective oversight in the establishment, and lack of monitoring of required internal control and procedures.

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Changes in Internal Control Over Financial Reporting

During the period covered by this report there were no changes in our internal control over financial reporting that materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

PART II - OTHER INFORMATION

Item 1. Legal Proceedings

We know of no material, existing or pending legal proceedings against our company, nor are we involved as a plaintiff in any material proceeding or pending litigation. There are no proceedings in which any of our directors, executive officers or affiliates, or any registered or beneficial stockholder, is an adverse party or has a material interest adverse to our interest.

Item 1A. Risk Factors

As a “smaller reporting company”, we are not required to provide the information required by this Item.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

None.

Item 3. Defaults Upon Senior Securities

None.

Item 4. Mine Safety Disclosures

Not applicable.

Item 5. Other Information

None

Item 6. Exhibits

Exhibit  Number	Description
(3)	Articles of Incorporation and Bylaws
3.1	Articles of Incorporation filed with the Secretary of State of the State of Delaware on September 6, 1996   (Incorporated by reference to our Registration Statement on Form S-1 filed January 6, 2014)
3.2	Bylaws (Incorporated by reference to our Registration Statement on Form S-1 filed January 6, 2014)
3.3	Certificate of Amendment of Certificate of Incorporation filed with the Secretary of State of the State of Delaware on November 4, 1996 (Incorporated by reference to our Registration Statement on Form S-1 filed January 6, 2014)
3.4	Certificate of Amendment of Certificate of Incorporation filed with the Secretary of State of the State of Delaware on February 28, 2012 (Incorporated by reference to our Registration Statement on Form S-1 filed January 6, 2014)
3.5	Certificate of Amendment of Certificate of Incorporation filed with the Secretary of State of the State of Delaware on March 20, 2012 (Incorporated by reference to our Registration Statement on Form S-1 filed January 6, 2014)

22

3.6	Certificate of Ownership and Merger filed with the Secretary of State of the State of Delaware on October 28, 2013 (Incorporated by reference to our Registration Statement on Form S-1 filed January 6, 2014)
(10)	Material Contracts
10.1	The Contract for Sino-Foreign Equity Joint Venture dated as of November 12, 2004 by and between Zhen Ding Corporation and Jing Xiang Xin Zhou Gold Co. Ltd. (Incorporated by reference to our Registration Statement on Form S-1 filed January 6, 2014)
10.2	Articles of Association for Zhen Ding JV dated as of October 12, 2006 by and between Z&W Zhen Ding Corporation and Jing Xiang Xin Zhou Gold Co. Ltd. (Incorporated by reference to our Registration Statement on Form S-1/A filed on February 13, 2015)
10.3	Supply Contract of Gold Concentrate Fines dated July 20, 2012 between Zhen Ding Mining Co., Ltd. and Yantai Jin Ao Metallurgical Co. Ltd.(Incorporated by reference to our Registration Statement on Form S-1/A filed on February 13, 2015)
10.4	Mining License No. C3400002009114110049341 dated November 5, 2014 in favor of Jing Xiang Xin Zhou Gold Co. Ltd. (Incorporated by reference to our Registration Statement on Form S-1/A filed on February 13, 2015)
10.5	Gold Mining License No. (2005) 042 in favor of Jing Xiang Xin Zhou Gold Co. Ltd. (Incorporated by reference to our Registration Statement on Form S-1/A filed on February 13, 2015)
10.6	Form of Loan Agreements between Wen Mei Tu and Zhen Ding Resources Inc. (Incorporated by reference to our Registration Statement on Form S-1/A filed on February 13, 2015)
10.7	Business License Registration No. 3425004000003061(1-1) dated November 17, 2014 in favor of Zhen Ding Mining Co. Ltd.  (Incorporated by reference to our Registration Statement on Form S-1/A filed June 9, 2015)
(21)	List of Subsidiaries
21.1	Z&W Zhen Ding Corporation, a California corporation (100% held)
21.2	Zhen Ding Mining Co. Ltd., a PRC corporation (70% held)
(31)	Rule 13a-14 (d)/15d-14d) Certifications
31.1*	Section 302 Certification by the Principal Executive Officer
31.2*	Section 302 Certification by the  Principal Financial Officer and Principal Accounting Officer
(32)	Section 1350 Certifications
32.1*	Section 906 Certification by the Principal Executive Officer
32.2*	Section 906 Certification by the Principal Financial Officer and Principal Accounting Officer
101*	Interactive Data File
101.INS	XBRL Instance Document
101.SCH	XBRL Taxonomy Extension Schema Document
101.CAL	XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF	XBRL Taxonomy Extension Definition Linkbase Document
101.LAB	XBRL Taxonomy Extension Label Linkbase Document
101.PRE	XBRL Taxonomy Extension Presentation Linkbase Document

*Filed herewith.

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	ZHEN DING RESOURCES INC.
	(Registrant)
Dated: May 17, 2022	/s/ Wen Mei Tu
	Wen Mei Tu
	President, Treasurer, Secretary and Director
	(Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer)

23

EX-31.1

 EXHIBIT 31.1

CERTIFICATION PURSUANT TO
18 U.S.C. ss 1350, AS ADOPTED PURSUANT TO
SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Wen Mei Tu, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of Zhen Ding Resources Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date:     May 17, 2023

/s/Wen Mei Tu

Wen Mei Tu
President, Chief Executive Officer, Chief Financial Officer and Director
(Principal Executive Officer, Principal Financial Officer and Principal
Accounting Officer)

EX-32.1

EXHIBIT 32.1

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

I, Wen Mei Tu, hereby certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1) the Quarterly Report on Form 10-Q of Zhen Ding Resources Inc. for the three months ended March 31, 2023 (the "Report") fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of Zhen Ding Resources Inc.

Dated:  May 17, 2023
	/s/Wen Mei Tu
	Wen Mei Tu
	President, Chief Executive Officer, Chief Financial Officer and Director
	(Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer)
	Zhen Ding Resources Inc.

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to Zhen Ding Resources Inc. and will be retained by Zhen Ding Resources Inc. and furnished to the Securities and Exchange Commission or its staff upon request.

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	Mar. 31, 2023	May 17, 2023
Cover [Abstract]
Document Type	10-Q
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Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2023
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--12-31
Entity File Number	333-188152
Entity Registrant Name	ZHEN DING RESOURCES INC.
Entity Central Index Key	0001594204
Entity Tax Identification Number	11-3350926
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	Suite 111
Entity Address, Address Line Two	3900 Place De Java
Entity Address, Address Line Three	Second Floor
Entity Address, City or Town	Brossard
Entity Address, State or Province	QC
Entity Address, Country	CA
Entity Address, Postal Zip Code	J4Y 9C4
City Area Code	438
Local Phone Number	882-4148
Title of 12(b) Security	Common Stock
Trading Symbol	RBTK
Entity Current Reporting Status	Yes
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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Current Assets:
Cash	$ 10,740	$ 13,708
Total current assets	10,740	13,708
Current Liabilities:
Accounts payable and accrued liabilities	409,845	400,755
Accounts payable and accrued liabilities-related parties	5,700,503	5,555,132
Deferred revenue	132,006	131,462
Due to related parties	779,507	776,295
Short-term debt	154,500	154,500
Short-term debt-related parties	3,338,006	3,311,209
Total current liabilities	10,514,367	10,329,353
Stockholders’ deficit
Common stock, 150,000,000 authorized, $0.0001 par value, 110,410,348 shares issued and outstanding	11,041	11,041
Additional paid-in capital	13,687,082	13,687,082
Subscriptions receivable	(5,431)	(5,431)
Accumulated other comprehensive income	528,941	557,392
Accumulated deficit	(21,449,702)	(21,345,909)
Total deficit attributable to Zhen Ding Resources Inc.	(7,228,069)	(7,095,825)
Non-controlling interests	(3,275,558)	(3,219,820)
Total Stockholders’ deficit	(10,503,627)	(10,315,645)
Total liabilities and Stockholders’ deficit	$ 10,740	$ 13,708

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Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Common Stock, Shares Authorized	150,000,000	150,000,000
Common Stock, Par Value	$ 0.0001	$ 0.0001
Common Stock, Shares Issued	110,410,348	110,410,348
Common Stock, Shares Outstanding	110,410,348	110,410,348

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Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Operating expenses:
General and administrative	$ 12,364	$ 19,748
Gain on sale of assets		(279)
Total operating expenses	12,364	19,469
Operating loss	(12,364)	(19,469)
Other expense:
Interest expenses	(127,838)	(135,444)
Net loss	(140,202)	(154,913)
Loss attributable to non-controlling interests	36,409	39,196
Net loss attributable to Zhen Ding Resources Inc.	$ (103,793)	$ (115,717)
Basic and diluted loss per common share	$ (0.00)	$ (0.00)
Basic and diluted weighted average number of common shares outstanding	110,411,348	110,411,348
Comprehensive loss:
Net loss	$ (140,202)	$ (154,913)
Other comprehensive income (loss):
Foreign currency translation adjustments	(47,780)	(52,260)
Total comprehensive loss	(187,982)	(207,173)
Comprehensive loss attributable to non-controlling interest	55,738	54,873
Comprehensive loss attributable to Zhen Ding Resources Inc.	$ (243,720)	$ (262,046)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash flows from operating activities
Net loss	$ (140,202)	$ (154,913)
Adjustment to reconcile net loss to net cash used in operating activities:
Gain on sale of property and equipment		(279)
Changes in operating assets and liabilities
Accounts payable and accrued liabilities	9,090	61,198
Accounts payable and accrued liabilities-related parties	120,927	74,646
Net cash used in operating activities	(10,185)	(19,348)
Cash flows from investing activities
Payments for the purchase of fixed assets		279
Net cash provided (used) for investing activities		279
Cash flows from financing activities
Proceeds from borrowings on short-term debt – related parties	13,500	(819)
Net cash provided by financing activities	13,500	(819)
Foreign currency translation	(6,283)	3,245
Net change in cash	(2,968)	(16,643)
Cash - beginning of the period	13,708	29,782
Cash - end of the period	10,740	13,139
Supplemental cash flow information:
Cash paid for interest
Cash paid for income tax

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Condensed Consolidated Statement of Changes in Stockholders' Deficit (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Receivables from Stockholder [Member]	Accumulated Distributions in Excess of Net Income [Member]	Retained Earnings [Member]	Noncontrolling Interest [Member]	Total
Beginning balance, value at Dec. 31, 2021	$ 11,041	$ 13,687,082	$ (5,431)	$ 7,272	$ (20,910,525)	$ (3,307,682)	$ (10,518,243)
Beginning balance, shares at Dec. 31, 2021	110,411,348
Foreign currency translation adjustment				(36,583)		(15,677)	(52,260)
Net loss					(115,717)	(39,196)	(154,913)
Ending balance, value at Mar. 31, 2022	$ 11,041	13,687,082	(5,431)	(29,311)	(21,026,242)	(3,362,555)	(10,725,416)
Ending balance, shares at Mar. 31, 2022	110,411,348
Beginning balance, value at Dec. 31, 2022	$ 11,041	13,687,082	(5,431)	557,392	(21,345,909)	(3,219,820)	(10,315,645)
Beginning balance, shares at Dec. 31, 2022	110,411,348
Foreign currency translation adjustment				(28,451)		(19,329)	(47,780)
Net loss					(103,793)	(36,409)	(140,202)
Ending balance, value at Mar. 31, 2023	$ 11,041	$ 13,687,082	$ (5,431)	$ 528,941	$ (21,449,702)	$ (3,275,558)	$ (10,503,627)
Ending balance, shares at Mar. 31, 2023	110,411,348

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Description of Business

3 Months Ended

Mar. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Description of Business

Note 1.  Description of Business

Zhen Ding Resources Inc. (formerly Robotech Inc.) (the “Company”, “Zhen Ding DE”, or “ZDRI”) was incorporated in the State of Delaware in September 1996 and began its business activities in the development and marketing of specialized technological equipment. In early 2010, the business direction of our Company was changed to seek opportunities to focus particularly on searching for companies engaged in the mining of gold, silver and copper.

The Company indirectly owns 70% of a Chinese Joint Venture entity, Zhen Ding Mining Co. Ltd. (“Zhen Ding JV” or “JXZD”). This indirect ownership is through a 100% ownership of a California company Z&W, Zhen Ding Corporation (“Z&W CA”).

Our Company, through Z&W CA, participates in a joint venture with Jing Xian Xinzhou Gold Co., Ltd. (“Xinzhou Gold”), a company organized under the laws of the People’s Republic of China (“PRC”). The joint venture company, JXZD, is 70% held by our Company through Z&W CA who has the mineral exploration, mineral mining and gold mining rights to a property located in the southwestern part of Anhui province in China, near the town of Jing Xian. Xinzhou Gold, the other 30% partner of JXZD is the actual named owner of the various licenses used by JXZD and transferred all rights emanating from these licenses as part of the joint venture agreement between Z&W CA and Xinzhou Gold. Our Company’s primary activity, through JXZD, is ore processing and production in China.

In 2017, the Company shut down its mineral processing plant in China due to insufficient working capital. The Company had limited operations and plans to resume selling processed ore concentrate as soon as possible to provide Zhen Ding JV the cash flow needed to keep its plant operating and to maintain a viable work force for future expansion.

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Summary of Significant Accounting Policies

3 Months Ended

Mar. 31, 2023

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Note 2. Summary of Significant Accounting Policies

The summary of significant accounting policies presented below is designed to assist in understanding the Company’s financial statements. Such financial statements and accompanying notes are the representations of the Company’s management, which is responsible for the integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States of America (“U.S. GAAP”) in all material respects and have been consistently applied in preparing the accompanying financial statements.

Basis of Presentation and Principles of Consolidation

These unaudited condensed consolidated financial statements have been prepared in accordance rules and regulations of the Securities and Exchange Commission (“SEC”) and generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Regulation S-X. Accordingly, the unaudited consolidated financial statements do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, we have included all adjustments considered necessary for a fair presentation and such adjustments are of a normal recurring nature. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements for the year ended December 31, 2022 and notes thereto and other pertinent information contained in our Form 10-K as filed with the SEC on March 30, 2022. The results of operations for the three months ended March 31, 2023, are not necessarily indicative of the results to be expected for the full fiscal year ending December 31, 2023.

The consolidated financial statements include the accounts of the Company, its wholly-owned subsidiaries Z&W CA and its majority owned subsidiary JXZD. All inter-company transactions and balances were eliminated. The portion of the income applicable to non-controlling interests in subsidiary undertakings is reflected in the consolidated statements of operations.

Reclassifications

Certain prior year amounts have been reclassified to conform to the current period presentation. These reclassifications had no impact on net earnings (loss) or and financial position.

Use of Estimates and Assumptions

The Company prepares its financial statements in conformity with U.S. GAAP, which requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Foreign Currency Adjustments

Assets and liabilities recorded in foreign currencies are translated at the exchange rate on the balance sheet date. Revenue and expenses are translated at average rates of exchange prevailing during the year. Any translation adjustments are reflected as a separate component of stockholders’ equity (deficit) and have no effect on current earnings. Gains and losses resulting from foreign currency transactions are included in current results of operations. During the periods ended March 31, 2023 and 2022, the Company had aggregate foreign currency translation gains (loss) of ($47,780) and ($52,260), respectively.

Cash

Cash consists of amounts denominated in US dollars. The Company does not, at any time, maintain cash in deposit accounts in excess of Federal Deposit Insurance Corporation (“FDIC”) limits. The Company has not experienced any losses on such accounts. The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. At March 31, the Company had no cash equivalents.

Income Taxes

An asset and liability approach is used for financial accounting and reporting for income taxes. Deferred income taxes arise from temporary differences between income tax and financial reporting and principally relate to recognition of revenue and expenses in different periods for financial and tax accounting purposes and are measured using currently enacted tax rates and laws. In addition, a deferred tax asset can be generated by net operating loss carry forwards. If it is more likely than not that some portion or all of a deferred tax asset will not be realized, a valuation allowance is recognized. The Company has tax losses that may be applied against future taxable income. The potential tax benefit arising from these loss carryforwards are offset by a valuation allowance due to uncertainty of profitable operations in the future.

The Company follows the FASB guidance for how uncertain tax positions should be recognized, measured and presented in the financial statements. This requires the evaluation of tax positions taken or expected be taken in the course of preparing the Company’s tax returns to determine whether the tax positions are “more-likely-than-not” of being sustained “when challenged” or “when examined” by the applicable tax authority. Tax positions not deemed to meet the more-likely-than-not threshold would be recorded as a tax expense and liability in the current year. Management has evaluated the Company’s tax positions and concluded that the Company has taken no uncertain tax positions that require adjustment to the financial statements to comply with the provisions of this guidance as of March 31, 2023. The Company is not currently under audit by any tax jurisdiction. The Company’s open taxes years are from 2018 to 2022.

Fair Values of Financial Instruments

Management believes that the carrying amounts of the Company’s financial instruments, consisting primarily of cash, , due to related parties, short term debt and short term debt – related parties, approximated their fair values as of March 31, 2023 and December 31, 2022, due to their short-term nature.

Non-controlling Interests

Non-controlling interests in the Company’s subsidiaries are reported as a component of equity, separate from the parent’s equity. Purchase or sale of equity interests that do not result in a change of control are accounted for as equity transactions. Results of operations attributable to the minority interest are included in our consolidated results of operations and, upon loss of control, the interest sold, as well as interest retained, if any, will be reported at fair value with any gain or loss recognized in earnings.

Basic and Diluted Earnings (Loss) Per Common Share

The basic net loss per common share is computed by dividing the net loss by the weighted average number of common shares outstanding. Diluted net loss per common share is computed by dividing the net loss adjusted on an “as converted” basis, by the weighted average number of common shares outstanding plus potential dilutive securities. For all periods presented, there were no potentially dilutive securities outstanding.

Recently Issued Accounting Pronouncements

In August 2020, the FASB issued ASU 2020-06, ASC Subtopic 470-20 “Debt—Debt with “Conversion and Other Options” and ASC subtopic 815-40 “Hedging—Contracts in Entity’s Own Equity”. The standard reduced the number of accounting models for convertible debt instruments and convertible preferred stock. Convertible instruments that continue to be subject to separation models are (1) those with embedded conversion features that are not clearly and closely related to the host contract, that meet the definition of a derivative, and that do not qualify for a scope exception from derivative accounting; and, (2) convertible debt instruments issued with substantial premiums for which the premiums are recorded as paid-in capital. The amendments in this update are effective for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. The Company adopted January 1, 2022 and noted no impact on its consolidated financial statements.

In March 2022, the FASB issued ASU 2022-02, ASC Subtopic 326 “Credit Losses”: Troubled Debt Restructurings and Vintage Disclosures. Since the issuance of Accounting Standards Update No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, the Board has provided resources to monitor and assist stakeholders with the implementation of Topic 326. Post-Implementation Review (PIR) activities have included forming a Credit Losses Transition Resource Group, conducting outreach with stakeholders of all types, developing educational materials and staff question-and-answer guidance, conducting educational workshops, and performing an archival review of financial reports. ASU No. 2022-02 is effective for annual and interim periods beginning after December 15, 2022. The Company does not expect the standard to have a significant impact on its financial statements.

The Company has considered all other recently issued accounting pronouncements and does not believe the adoption of such pronouncements will have a material impact on its consolidated financial statements

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Going Concern

3 Months Ended

Mar. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Going Concern

Note 3. Going Concern

These financial statements have been prepared on a going concern basis, which implies the Company will continue to meet its obligations and continue its operations for the next twelve months. As of March 31, 2023, the Company had accumulated losses of $21,449,702 since inception and had a working capital deficit of $10,503,627. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern. The continuation of the Company as a going concern is dependent upon financial support from its stockholders, the ability of the Company to obtain necessary equity financing to continue operations, and the attainment of profitable operations. Realization value may be substantially different from carrying values as shown and these financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

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Short-Term Debt

3 Months Ended

Mar. 31, 2023

Debt Disclosure [Abstract]

Short-Term Debt

Note 4. Short-Term Debt

The following table represents the details of the short-term debts at March 31, 2023 and December 31, 2022:

Issuance date	Maturity		Interest Rate	03.31.2023		12.31.2022
October 2, 2019		October 1, 2020	1% per month	$	10,000	$	10,000
January 15, 2020		January 15, 2021	1% per month		22,000		22,000
April 16, 2020		April 15, 2021	1% per month		13,500		13,500
July 2, 2020		July 1, 2021	1% per month		18,500		18,500
October 23, 2020		October 22, 2021	1% per month		6,500		6,500
January 5, 2021		January 15, 2022	1% per month		22,500		22,500
March 10, 2021		March 10, 2022	1% per month		20,000		20,000
July 13, 2021		July 13, 2022	1% per month		16,500		16,500
December 14, 2021		December 14, 2022	1% per month		25,000		25,000
				$	154,500	$	154,500

According to the loan agreements, there is not any additional interest and penalty for the loans passing maturity date.

During the three months ended March 31, 2023 and 2022, the Company recorded interest expense and accrued interest of $4,635 and $4,635, respectively and is included in interest expense in the consolidated statements of operations.

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Related Party Transactions

3 Months Ended

Mar. 31, 2023

Related Party Transactions [Abstract]

Related Party Transactions

Note 5. Related Party Transactions

Accounts payable

As of March 31, 2023 and December 31, 2022, the Company had payables of $779,507 and $776,295, respectively, to Xinzhou Gold. These payables bear no interest, are unsecured and are due on demand.

Short-term debt

As of March 31, 2023 and December 31, 2022, the Company had short-term debts to related parties of $3,338,006 and $3,311,209, respectively. The details of the loans are described as below.

 At March 31, 2023:

Name	Relationship to the Company	Amount		Interest Rate			Start Date	Maturity
Shor-term debt
Wei De Gang	CEO & Legal person of JXZD	$	2,588,782		15	%	May 31, 2011	May 31, 2014
Zhao Yan Ling	Former office manager of JXZD, wife of Zhou Zhi Bin		15,288		15	%	January 1, 2011	December 31, 2013
Zhou Zhi Bin	Former CEO & Legal person of JXZD		7,280		15	%	January 1, 2011	December 31, 2013
Tang Yong Hong	Manager of JXZD		313,829		15	%	February 28, 2015	February 28, 2016
Yan Chun Yan	Accountant of JXZD		8,345		15	%	August 31, 2014	August 31, 2015
Victor Sun	Shareholder of ZDRI		50,282				January 1, 2011	On Demand
Victor Sun	Shareholder of ZDRI		12,000		15	%	April 25, 2022	May 2, 2023
Victor Sun	Shareholder of ZDRI		13,000		15	%	May 2, 2022	May 2, 2023
Victor Sun	Shareholder of ZDRI		12,000		15	%	July 12, 2022	July 12, 2023
Victor Sun	Shareholder of ZDRI		12,500		15	%	December 6, 2022	December 5, 2023
Victor Sun	Shareholder of ZDRI		13,500		15	%	January 11, 2023	January 11, 2024
Current portion of long-term debt
Zhou Qiang	Office manager of JXZD		291,200		15	%	December 18, 2012	December 18, 2015
Total		$	3,338,006

At December 31, 2022:

Name	Relationship to the Company	Amount		Interest Rate			Start Date	Maturity
Shor-term debt
Wei De Gang	CEO & Legal person of JXZD	$	2,578,114		15	%	May 31, 2011	May 31, 2014
Zhao Yan Ling	Former office manager of JXZD, wife of Zhou Zhi Bin		15,225		15	%	January 1, 2011	December 31, 2013
Zhou Zhi Bin	Former CEO & Legal person of JXZD		7,250		15	%	January 1, 2011	December 31, 2013
Tang Yong Hong	Manager of JXZD		312,536		15	%	February 28, 2015	February 28, 2016
Yan Chun Yan	Accountant of JXZD		8,302		15	%	August 31, 2014	August 31, 2015
Victor Sun	Shareholder of ZDRI		50,282				January 1, 2011	On Demand
Victor Sun	Shareholder of ZDRI		12,000		15	%	April 25, 2022	May 2, 2023
Victor Sun	Shareholder of ZDRI		13,000		15	%	May 2, 2022	May 2, 2023
Victor Sun	Shareholder of ZDRI		12,000		15	%	July 12, 2022	July 12, 2023
Victor Sun	Shareholder of ZDRI		12,500		15	%	December 6, 2022	December 5, 2023
Current portion of long-term debt
Zhou Qiang	Office manager of JXZD		290,000		15	%	December 18, 2012	December 18, 2015
Total		$	3,311,209

As of March 31, 2023, and December 31, 2022, the Company had accrued interest payable to the related parties of $5,700,503 and $5,555,132, respectively. For the periods ended March 31, 2023, and 2022, the Company recorded interest expenses of $153,682 and $135,444, respectively. The Company has received no demands for repayment of matured debt instruments.

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Accounts Payable and Accrued Liabilities

3 Months Ended

Mar. 31, 2023

Accounts Payable And Accrued Liabilities

Accounts Payable and Accrued Liabilities

Note 6. Accounts Payable and Accrued Liabilities

As of March 31, 2023 and December 31, 2022, the Company had accounts payable of $189,003 and $184,684 respectively. As of March 31, 2023, and December 31, 2022, the Company had accrued liabilities of $220,842 and $216,072. 

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Deferred Revenues

3 Months Ended

Mar. 31, 2023

Revenue Recognition and Deferred Revenue [Abstract]

Deferred Revenues

Note 7. Deferred Revenues

As of March 31, 2023 and December 31, 2022, the Company had deferred revenue of $132,006 and $131,462 related to receipts of payment for unprocessed ore from Xinzhou Gold Co. Ltd, respectively, related to advances that the Company received from its customers. The Company has received no demands for repayment of deferred revenues.

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Contingencies

3 Months Ended

Mar. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Contingencies

Note 8. Contingencies

Concentration of Credit Risk

Substantially all of the Company’s bank accounts are in banks located in The People’s Republic of China and are not covered by protection similar to that provided by the FDIC on funds held in United States banks. 

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COVID-19

3 Months Ended

Mar. 31, 2023

Covid-19

COVID-19

Note 9. – COVID-19

On January 30, 2020, the World Health Organization (“WHO”) announced a global health emergency in response to a new strain of a coronavirus (the “COVID-19 outbreak”). In March 2020, the WHO classified the COVID-19 outbreak as a pandemic based on the rapid increase in exposure globally. The full impact of the COVID-19 outbreak continues to evolve as of the date of this report .Management is actively monitoring the global situation and its effects on the Company’s industry, financial condition, liquidity, and operations. Given the daily evolution of the COVID-19 outbreak and the global responses to curb its spread, the Company is not able to estimate the effects of the COVID-19 outbreak on its results of operations, financial condition, or liquidity for fiscal year 2020.However, if the pandemic continues, it may have a material adverse effect on the Company’s results of future operations, financial position, and liquidity in fiscal year 2023.

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Subsequent Events

3 Months Ended

Mar. 31, 2023

Subsequent Events [Abstract]

Subsequent Events

Note 10. Subsequent Events

The Company does not have any events subsequent to March 31, 2023 through May 17, 2023 the date the financial statements were issued for disclosure consideration.

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Summary of Significant Accounting Policies (Policies)

3 Months Ended

Mar. 31, 2023

Accounting Policies [Abstract]

Basis of Presentation and Principles of Consolidation

Basis of Presentation and Principles of Consolidation

These unaudited condensed consolidated financial statements have been prepared in accordance rules and regulations of the Securities and Exchange Commission (“SEC”) and generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Regulation S-X. Accordingly, the unaudited consolidated financial statements do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, we have included all adjustments considered necessary for a fair presentation and such adjustments are of a normal recurring nature. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements for the year ended December 31, 2022 and notes thereto and other pertinent information contained in our Form 10-K as filed with the SEC on March 30, 2022. The results of operations for the three months ended March 31, 2023, are not necessarily indicative of the results to be expected for the full fiscal year ending December 31, 2023.

The consolidated financial statements include the accounts of the Company, its wholly-owned subsidiaries Z&W CA and its majority owned subsidiary JXZD. All inter-company transactions and balances were eliminated. The portion of the income applicable to non-controlling interests in subsidiary undertakings is reflected in the consolidated statements of operations.

Reclassifications

Reclassifications

Certain prior year amounts have been reclassified to conform to the current period presentation. These reclassifications had no impact on net earnings (loss) or and financial position.

Use of Estimates and Assumptions

Use of Estimates and Assumptions

The Company prepares its financial statements in conformity with U.S. GAAP, which requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Foreign Currency Adjustments

Foreign Currency Adjustments

Assets and liabilities recorded in foreign currencies are translated at the exchange rate on the balance sheet date. Revenue and expenses are translated at average rates of exchange prevailing during the year. Any translation adjustments are reflected as a separate component of stockholders’ equity (deficit) and have no effect on current earnings. Gains and losses resulting from foreign currency transactions are included in current results of operations. During the periods ended March 31, 2023 and 2022, the Company had aggregate foreign currency translation gains (loss) of ($47,780) and ($52,260), respectively.

Cash

Cash

Cash consists of amounts denominated in US dollars. The Company does not, at any time, maintain cash in deposit accounts in excess of Federal Deposit Insurance Corporation (“FDIC”) limits. The Company has not experienced any losses on such accounts. The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. At March 31, the Company had no cash equivalents.

Income Taxes

Income Taxes

An asset and liability approach is used for financial accounting and reporting for income taxes. Deferred income taxes arise from temporary differences between income tax and financial reporting and principally relate to recognition of revenue and expenses in different periods for financial and tax accounting purposes and are measured using currently enacted tax rates and laws. In addition, a deferred tax asset can be generated by net operating loss carry forwards. If it is more likely than not that some portion or all of a deferred tax asset will not be realized, a valuation allowance is recognized. The Company has tax losses that may be applied against future taxable income. The potential tax benefit arising from these loss carryforwards are offset by a valuation allowance due to uncertainty of profitable operations in the future.

The Company follows the FASB guidance for how uncertain tax positions should be recognized, measured and presented in the financial statements. This requires the evaluation of tax positions taken or expected be taken in the course of preparing the Company’s tax returns to determine whether the tax positions are “more-likely-than-not” of being sustained “when challenged” or “when examined” by the applicable tax authority. Tax positions not deemed to meet the more-likely-than-not threshold would be recorded as a tax expense and liability in the current year. Management has evaluated the Company’s tax positions and concluded that the Company has taken no uncertain tax positions that require adjustment to the financial statements to comply with the provisions of this guidance as of March 31, 2023. The Company is not currently under audit by any tax jurisdiction. The Company’s open taxes years are from 2018 to 2022.

Fair Values of Financial Instruments

Fair Values of Financial Instruments

Management believes that the carrying amounts of the Company’s financial instruments, consisting primarily of cash, , due to related parties, short term debt and short term debt – related parties, approximated their fair values as of March 31, 2023 and December 31, 2022, due to their short-term nature.

Non-controlling Interests

Non-controlling Interests

Non-controlling interests in the Company’s subsidiaries are reported as a component of equity, separate from the parent’s equity. Purchase or sale of equity interests that do not result in a change of control are accounted for as equity transactions. Results of operations attributable to the minority interest are included in our consolidated results of operations and, upon loss of control, the interest sold, as well as interest retained, if any, will be reported at fair value with any gain or loss recognized in earnings.

Basic and Diluted Earnings (Loss) Per Common Share

Basic and Diluted Earnings (Loss) Per Common Share

The basic net loss per common share is computed by dividing the net loss by the weighted average number of common shares outstanding. Diluted net loss per common share is computed by dividing the net loss adjusted on an “as converted” basis, by the weighted average number of common shares outstanding plus potential dilutive securities. For all periods presented, there were no potentially dilutive securities outstanding.

Recently Issued Accounting Pronouncements

Recently Issued Accounting Pronouncements

In August 2020, the FASB issued ASU 2020-06, ASC Subtopic 470-20 “Debt—Debt with “Conversion and Other Options” and ASC subtopic 815-40 “Hedging—Contracts in Entity’s Own Equity”. The standard reduced the number of accounting models for convertible debt instruments and convertible preferred stock. Convertible instruments that continue to be subject to separation models are (1) those with embedded conversion features that are not clearly and closely related to the host contract, that meet the definition of a derivative, and that do not qualify for a scope exception from derivative accounting; and, (2) convertible debt instruments issued with substantial premiums for which the premiums are recorded as paid-in capital. The amendments in this update are effective for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. The Company adopted January 1, 2022 and noted no impact on its consolidated financial statements.

In March 2022, the FASB issued ASU 2022-02, ASC Subtopic 326 “Credit Losses”: Troubled Debt Restructurings and Vintage Disclosures. Since the issuance of Accounting Standards Update No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, the Board has provided resources to monitor and assist stakeholders with the implementation of Topic 326. Post-Implementation Review (PIR) activities have included forming a Credit Losses Transition Resource Group, conducting outreach with stakeholders of all types, developing educational materials and staff question-and-answer guidance, conducting educational workshops, and performing an archival review of financial reports. ASU No. 2022-02 is effective for annual and interim periods beginning after December 15, 2022. The Company does not expect the standard to have a significant impact on its financial statements.

The Company has considered all other recently issued accounting pronouncements and does not believe the adoption of such pronouncements will have a material impact on its consolidated financial statements

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Short-Term Debt (Tables)

3 Months Ended

Mar. 31, 2023

Debt Disclosure [Abstract]

Schedule of short term debt

Issuance date	Maturity		Interest Rate	03.31.2023		12.31.2022
October 2, 2019		October 1, 2020	1% per month	$	10,000	$	10,000
January 15, 2020		January 15, 2021	1% per month		22,000		22,000
April 16, 2020		April 15, 2021	1% per month		13,500		13,500
July 2, 2020		July 1, 2021	1% per month		18,500		18,500
October 23, 2020		October 22, 2021	1% per month		6,500		6,500
January 5, 2021		January 15, 2022	1% per month		22,500		22,500
March 10, 2021		March 10, 2022	1% per month		20,000		20,000
July 13, 2021		July 13, 2022	1% per month		16,500		16,500
December 14, 2021		December 14, 2022	1% per month		25,000		25,000
				$	154,500	$	154,500

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Related Party Transactions (Tables)

3 Months Ended

Mar. 31, 2023

Related Party Transactions [Abstract]

Schedule of short term debt

Name	Relationship to the Company	Amount		Interest Rate			Start Date	Maturity
Shor-term debt
Wei De Gang	CEO & Legal person of JXZD	$	2,588,782		15	%	May 31, 2011	May 31, 2014
Zhao Yan Ling	Former office manager of JXZD, wife of Zhou Zhi Bin		15,288		15	%	January 1, 2011	December 31, 2013
Zhou Zhi Bin	Former CEO & Legal person of JXZD		7,280		15	%	January 1, 2011	December 31, 2013
Tang Yong Hong	Manager of JXZD		313,829		15	%	February 28, 2015	February 28, 2016
Yan Chun Yan	Accountant of JXZD		8,345		15	%	August 31, 2014	August 31, 2015
Victor Sun	Shareholder of ZDRI		50,282				January 1, 2011	On Demand
Victor Sun	Shareholder of ZDRI		12,000		15	%	April 25, 2022	May 2, 2023
Victor Sun	Shareholder of ZDRI		13,000		15	%	May 2, 2022	May 2, 2023
Victor Sun	Shareholder of ZDRI		12,000		15	%	July 12, 2022	July 12, 2023
Victor Sun	Shareholder of ZDRI		12,500		15	%	December 6, 2022	December 5, 2023
Victor Sun	Shareholder of ZDRI		13,500		15	%	January 11, 2023	January 11, 2024
Current portion of long-term debt
Zhou Qiang	Office manager of JXZD		291,200		15	%	December 18, 2012	December 18, 2015
Total		$	3,338,006

At December 31, 2022:

Name	Relationship to the Company	Amount		Interest Rate			Start Date	Maturity
Shor-term debt
Wei De Gang	CEO & Legal person of JXZD	$	2,578,114		15	%	May 31, 2011	May 31, 2014
Zhao Yan Ling	Former office manager of JXZD, wife of Zhou Zhi Bin		15,225		15	%	January 1, 2011	December 31, 2013
Zhou Zhi Bin	Former CEO & Legal person of JXZD		7,250		15	%	January 1, 2011	December 31, 2013
Tang Yong Hong	Manager of JXZD		312,536		15	%	February 28, 2015	February 28, 2016
Yan Chun Yan	Accountant of JXZD		8,302		15	%	August 31, 2014	August 31, 2015
Victor Sun	Shareholder of ZDRI		50,282				January 1, 2011	On Demand
Victor Sun	Shareholder of ZDRI		12,000		15	%	April 25, 2022	May 2, 2023
Victor Sun	Shareholder of ZDRI		13,000		15	%	May 2, 2022	May 2, 2023
Victor Sun	Shareholder of ZDRI		12,000		15	%	July 12, 2022	July 12, 2023
Victor Sun	Shareholder of ZDRI		12,500		15	%	December 6, 2022	December 5, 2023
Current portion of long-term debt
Zhou Qiang	Office manager of JXZD		290,000		15	%	December 18, 2012	December 18, 2015
Total		$	3,311,209

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Description of Business (Details Narrative)	Mar. 31, 2023
Zhen Ding Jv [Member]
Ownership percentage	70.00%
Zhen Ding Corporation [Member]
Ownership percentage	100.00%
Other Partners [Member]
Ownership percentage	30.00%

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Summary of Significant Accounting Policies (Details Narrative) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Foreign currency translation gains (loss)	$ 47,780	$ 52,260
Cash equivalents	$ 0

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Going Concern (Details Narrative) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficit	$ 21,449,702	$ 21,345,909
Working capital deficit	$ 10,503,627

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Short-Term Debt (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Extinguishment of Debt [Line Items]
Short-Term Debt	$ 154,500	$ 154,500
Short Term Debt One [Member]
Extinguishment of Debt [Line Items]
Issuance date	Oct. 02, 2019
Maturity	Oct. 01, 2020
Short-term debt, weighted average interest rate, at point in time	1.00%
Short-Term Debt	$ 10,000	10,000
Short Term Debt Two [Member]
Extinguishment of Debt [Line Items]
Issuance date	Jan. 15, 2020
Maturity	Jan. 15, 2021
Short-term debt, weighted average interest rate, at point in time	1.00%
Short-Term Debt	$ 22,000	22,000
Short Term Debt Three [Member]
Extinguishment of Debt [Line Items]
Issuance date	Apr. 16, 2020
Maturity	Apr. 15, 2021
Short-term debt, weighted average interest rate, at point in time	1.00%
Short-Term Debt	$ 13,500	13,500
Short Term Debt Four [Member]
Extinguishment of Debt [Line Items]
Issuance date	Jul. 02, 2020
Maturity	Jul. 01, 2021
Short-term debt, weighted average interest rate, at point in time	1.00%
Short-Term Debt	$ 18,500	18,500
Short Term Debt Five [Member]
Extinguishment of Debt [Line Items]
Issuance date	Oct. 23, 2020
Maturity	Oct. 22, 2021
Short-term debt, weighted average interest rate, at point in time	1.00%
Short-Term Debt	$ 6,500	6,500
Short Term Debt Six [Member]
Extinguishment of Debt [Line Items]
Issuance date	Jan. 05, 2021
Maturity	Jan. 15, 2022
Short-term debt, weighted average interest rate, at point in time	1.00%
Short-Term Debt	$ 22,500	22,500
Short Term Debt Seven [Member]
Extinguishment of Debt [Line Items]
Issuance date	Mar. 10, 2021
Maturity	Mar. 10, 2022
Short-term debt, weighted average interest rate, at point in time	1.00%
Short-Term Debt	$ 20,000	20,000
Short Term Debt Eight [Member]
Extinguishment of Debt [Line Items]
Issuance date	Jul. 13, 2021
Maturity	Jul. 13, 2022
Short-term debt, weighted average interest rate, at point in time	1.00%
Short-Term Debt	$ 16,500	16,500
Short Term Debt Nine [Member]
Extinguishment of Debt [Line Items]
Issuance date	Dec. 14, 2021
Maturity	Dec. 14, 2022
Short-term debt, weighted average interest rate, at point in time	1.00%
Short-Term Debt	$ 25,000	$ 25,000

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Short-Term Debt (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Debt Disclosure [Abstract]
Interest expense and accrued interest	$ 4,635	$ 4,635

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Related Party Transactions (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Related Party Transaction [Line Items]
Short-term debt-related parties	$ 3,338,006	$ 3,311,209
Wei De Gang [Member]
Related Party Transaction [Line Items]
Relationship to the Company	CEO & Legal person of JXZD	CEO & Legal person of JXZD
Short-term debt-related parties	$ 2,588,782	$ 2,578,114
Interest Rate	15.00%	15.00%
Start Date	May 31, 2011	May 31, 2011
Maturity Date	May 31, 2014	May 31, 2014
Zhao Yan Ling [Member]
Related Party Transaction [Line Items]
Relationship to the Company	Former office manager of JXZD, wife of Zhou Zhi Bin	Former office manager of JXZD, wife of Zhou Zhi Bin
Short-term debt-related parties	$ 15,288	$ 15,225
Interest Rate	15.00%	15.00%
Start Date	Jan. 01, 2011	Jan. 01, 2011
Maturity Date	Dec. 31, 2013	Dec. 31, 2013
Zhou Zhi Bin [Member]
Related Party Transaction [Line Items]
Relationship to the Company	Former CEO & Legal person of JXZD	Former CEO & Legal person of JXZD
Short-term debt-related parties	$ 7,280	$ 7,250
Interest Rate	15.00%	15.00%
Start Date	Jan. 01, 2011	Jan. 01, 2011
Maturity Date	Dec. 31, 2013	Dec. 31, 2013
Tang Yong Hong [Member]
Related Party Transaction [Line Items]
Relationship to the Company	Manager of JXZD	Manager of JXZD
Short-term debt-related parties	$ 313,829	$ 312,536
Interest Rate	15.00%	15.00%
Start Date	Feb. 28, 2015	Feb. 28, 2015
Maturity Date	Feb. 28, 2016	Feb. 28, 2016
Yan Chun Yan [Member]
Related Party Transaction [Line Items]
Relationship to the Company	Accountant of JXZD	Accountant of JXZD
Short-term debt-related parties	$ 8,345	$ 8,302
Interest Rate	15.00%	15.00%
Start Date	Aug. 31, 2014	Aug. 31, 2014
Maturity Date	Aug. 31, 2015	Aug. 31, 2015
Victor Sun [Member]
Related Party Transaction [Line Items]
Relationship to the Company	Shareholder of ZDRI	Shareholder of ZDRI
Short-term debt-related parties	$ 50,282	$ 50,282
Start Date	Jan. 01, 2011	Jan. 01, 2011
Victor Sun One [Member]
Related Party Transaction [Line Items]
Relationship to the Company	Shareholder of ZDRI	Shareholder of ZDRI
Short-term debt-related parties	$ 12,000	$ 12,000
Interest Rate	15.00%	15.00%
Start Date	Apr. 25, 2022	Apr. 25, 2022
Maturity Date	May 02, 2023	May 02, 2023
Victor Sun Two [Member]
Related Party Transaction [Line Items]
Relationship to the Company	Shareholder of ZDRI	Shareholder of ZDRI
Short-term debt-related parties	$ 13,000	$ 13,000
Interest Rate	15.00%	15.00%
Start Date	May 02, 2022	May 02, 2022
Maturity Date	May 02, 2023	May 02, 2023
Victor Sun Three [Member]
Related Party Transaction [Line Items]
Relationship to the Company	Shareholder of ZDRI	Shareholder of ZDRI
Short-term debt-related parties	$ 12,000	$ 12,000
Interest Rate	15.00%	15.00%
Start Date	Jul. 12, 2022	Jul. 12, 2022
Maturity Date	Jul. 12, 2023	Jul. 12, 2023
Victor Sun 4 [Member]
Related Party Transaction [Line Items]
Relationship to the Company	Shareholder of ZDRI	Shareholder of ZDRI
Short-term debt-related parties	$ 12,500	$ 12,500
Interest Rate	15.00%	15.00%
Start Date	Dec. 06, 2022	Dec. 06, 2022
Maturity Date	Dec. 05, 2023	Dec. 05, 2023
Victor Sun 5 [Member]
Related Party Transaction [Line Items]
Relationship to the Company	Shareholder of ZDRI
Short-term debt-related parties	$ 13,500
Interest Rate	15.00%
Start Date	Jan. 11, 2023
Maturity Date	Jan. 11, 2024
Zhou Qiang [Member]
Related Party Transaction [Line Items]
Relationship to the Company	Office manager of JXZD	Office manager of JXZD
Short-term debt-related parties	$ 291,200	$ 290,000
Interest Rate	15.00%	15.00%
Start Date	Dec. 18, 2012	Dec. 18, 2012
Maturity Date	Dec. 18, 2015	Dec. 18, 2015

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Related Party Transactions (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Related Party Transactions [Abstract]
Due to related parties	$ 779,507		$ 776,295
Short-term debts	3,338,006		3,311,209
Accrued liabilities, current	5,700,503		$ 5,555,132
Interest Expense	$ 153,682	$ 135,444

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Accounts Payable and Accrued Liabilities (Details Narrative) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Accounts Payable And Accrued Liabilities
Accounts payable	$ 189,003	$ 184,684
Accrued liabilities	$ 220,842	$ 216,072

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Deferred Revenues (Details Narrative) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Revenue Recognition and Deferred Revenue [Abstract]
Deferred Revenue	$ 132,006	$ 131,462