2019 Q4 Form 10-Q Financial Statement
#000164033420000362 Filed on February 20, 2020
Income Statement
Concept | 2019 Q4 | 2019 Q2 | 2018 Q4 |
---|---|---|---|
Revenue | $0.00 | $3.160K | $0.00 |
YoY Change | |||
Cost Of Revenue | $0.00 | $8.400K | $1.539K |
YoY Change | -100.0% | ||
Gross Profit | $0.00 | -$5.240K | -$1.539K |
YoY Change | -100.0% | ||
Gross Profit Margin | -165.82% | ||
Selling, General & Admin | $30.67K | $43.71K | $35.90K |
YoY Change | -14.58% | ||
% of Gross Profit | |||
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $40.00 | $1.230K | $1.220K |
YoY Change | -96.72% | ||
% of Gross Profit | |||
Operating Expenses | $30.67K | $43.72K | $35.90K |
YoY Change | -14.58% | ||
Operating Profit | -$30.67K | -$48.96K | -$37.44K |
YoY Change | -18.09% | ||
Interest Expense | |||
YoY Change | |||
% of Operating Profit | |||
Other Income/Expense, Net | $0.00 | -$630.00 | $26.65K |
YoY Change | -100.0% | ||
Pretax Income | -$30.67K | -$49.59K | -$10.79K |
YoY Change | 184.26% | ||
Income Tax | $0.00 | $0.00 | $0.00 |
% Of Pretax Income | |||
Net Earnings | -$27.94K | -$46.32K | -$11.10K |
YoY Change | 151.77% | ||
Net Earnings / Revenue | -1465.82% | ||
Basic Earnings Per Share | |||
Diluted Earnings Per Share | -$242.90 | -$402.60 | -$96.49 |
COMMON SHARES | |||
Basic Shares Outstanding | 115.0M shares | 115.0M shares | |
Diluted Shares Outstanding | 115.0M shares | 115.0M shares |
Balance Sheet
Concept | 2019 Q4 | 2019 Q2 | 2018 Q4 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $38.36K | $10.66K | $6.190K |
YoY Change | 519.71% | 6.6% | -38.1% |
Cash & Equivalents | $38.36K | $10.66K | $6.190K |
Short-Term Investments | |||
Other Short-Term Assets | $25.56K | $970.00 | $1.510K |
YoY Change | 1592.72% | ||
Inventory | $0.00 | $0.00 | $0.00 |
Prepaid Expenses | |||
Receivables | $0.00 | $0.00 | $0.00 |
Other Receivables | $0.00 | $0.00 | $0.00 |
Total Short-Term Assets | $63.92K | $11.64K | $11.99K |
YoY Change | 433.09% | -61.21% | -60.03% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $705.00 | $1.00 | $2.470K |
YoY Change | -71.46% | -99.99% | -75.3% |
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | |||
YoY Change | |||
Total Long-Term Assets | $826.00 | $1.00 | $2.470K |
YoY Change | -66.56% | -75.3% | |
TOTAL ASSETS | |||
Total Short-Term Assets | $63.92K | $11.64K | $11.99K |
Total Long-Term Assets | $826.00 | $1.00 | $2.470K |
Total Assets | $64.74K | $11.64K | $14.46K |
YoY Change | 347.74% | -61.21% | -63.85% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $1.578M | $1.563M | $1.561M |
YoY Change | 1.06% | -2.31% | -4.8% |
Accrued Expenses | $113.7K | $76.49K | $34.42K |
YoY Change | 230.26% | 91.23% | -42.63% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | $0.00 | $193.00 | $1.410K |
YoY Change | -100.0% | ||
Total Short-Term Liabilities | $2.359M | $2.232M | $2.160M |
YoY Change | 9.22% | -8.88% | -12.89% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | |||
YoY Change | |||
Total Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
YoY Change | |||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $2.359M | $2.232M | $2.160M |
Total Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
Total Liabilities | $2.359M | $2.232M | $1.639M |
YoY Change | 43.97% | 18.12% | -14.2% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$5.015M | -$4.840M | |
YoY Change | |||
Common Stock | $2.531M | $2.531M | |
YoY Change | |||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | -$1.762M | -$2.221M | -$1.624M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $64.74K | $11.64K | $14.46K |
YoY Change | 347.74% | -61.21% | -63.85% |
Cashflow Statement
Concept | 2019 Q4 | 2019 Q2 | 2018 Q4 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$27.94K | -$46.32K | -$11.10K |
YoY Change | 151.77% | ||
Depreciation, Depletion And Amortization | $40.00 | $1.230K | $1.220K |
YoY Change | -96.72% | ||
Cash From Operating Activities | -$64.32K | $102.8K | -$31.37K |
YoY Change | 105.04% | -228.45% | -413.7% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $0.00 | $0.00 | |
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $0.00 | $0.00 | |
YoY Change | |||
Cash From Investing Activities | $0.00 | $0.00 | |
YoY Change | |||
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 0.000 | -610.0 | -590.0 |
YoY Change | -100.0% | ||
NET CHANGE | |||
Cash From Operating Activities | -64.32K | 102.8K | -31.37K |
Cash From Investing Activities | 0.000 | 0.000 | |
Cash From Financing Activities | 0.000 | -610.0 | -590.0 |
Net Change In Cash | -64.32K | 102.1K | -31.96K |
YoY Change | 101.25% | -227.69% | -419.6% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$64.32K | $102.8K | -$31.37K |
Capital Expenditures | $0.00 | $0.00 | |
Free Cash Flow | $102.8K | -$31.37K | |
YoY Change |
Facts In Submission
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CY2019Q4 | vrdr |
Working Capital Deficit Surplus
WorkingCapitalDeficitSurplus
|
2295477 | USD |
us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
245581 | USD | |
us-gaap |
Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
|
-4517 | USD | |
vrdr |
Increase Decrease In Deposits And Prepayment
IncreaseDecreaseInDepositsAndPrepayment
|
24171 | USD | |
us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
37115 | USD | |
us-gaap |
Increase Decrease In Accrued Taxes Payable
IncreaseDecreaseInAccruedTaxesPayable
|
-458 | USD | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-4542 | USD | |
us-gaap |
Increase Decrease In Due To Related Parties Current
IncreaseDecreaseInDueToRelatedPartiesCurrent
|
-52686 | USD | |
us-gaap |
Increase Decrease In Due To Related Parties Current
IncreaseDecreaseInDueToRelatedPartiesCurrent
|
-21392 | USD | |
us-gaap |
Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
0 | USD | |
us-gaap |
Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
0 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-220877 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-60930 | USD | |
us-gaap |
Repayments Of Bank Debt
RepaymentsOfBankDebt
|
1188 | USD | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-192 | USD | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-1188 | USD | |
us-gaap |
Cash And Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashAndCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
-221069 | USD | |
us-gaap |
Cash And Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashAndCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
-62118 | USD | |
vrdr |
Reorganization Non Cash Item
ReorganizationNonCashItem
|
0 | USD | |
CY2018Q4 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-13412 | USD |
vrdr |
Reorganization Non Cash Item
ReorganizationNonCashItem
|
0 | USD | |
us-gaap |
Stock Issued1
StockIssued1
|
0 | USD | |
us-gaap |
Stock Issued1
StockIssued1
|
0 | USD | |
us-gaap |
Nature Of Operations
NatureOfOperations
|
<p style="MARGIN:0px;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS</span></span></span></span></span></span></p><p style="MARGIN:0px"> </p><p style="MARGIN:0px;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>Verde Resources, Inc. (the “Company” or “VRDR”) was incorporated on April 22, 2010, in the State of Nevada, U.S.A. The accounting and reporting policies of the Company conform to accounting principles generally accepted in the United States of America, and the Company’s fiscal year end is June 30.</span></span></span></span></span></span></p><p style="MARGIN:0px;text-align:justify"> </p><p style="MARGIN:0px;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>Gold Billion Global Limited (“Gold Billion” or “GBL”) was incorporated in British Virgin Islands on February 7, 2013. GBL was setup by the Board of Directors of Federal Mining Resources Limited (“FMR”). The major operation of GBL is to manage and monitor the mineral exploration and mining projects of FMR.</span></span></span></span></span></span></p><p style="MARGIN:0px;text-align:justify"> </p><p style="font-size:10pt;font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">On July 1, 2013, FMR has assigned its rights and obligation on Champmark Sdn Bhd (“CSB”) to GBL. Four of the five members of CSB Board of Directors were appointed by FMR, with two of the GBL Board of Directors currently sitting on the CSB Board. According to ASC 810-05-08 A, CSB is a deemed subsidiary of GBL where it has controlled the CSB Board of Directors, has assigned rights to receive future benefits and residual value, and obligation to absorb loss and finance for CSB by GBL. GBL has the power to direct the activities of CSB that most significantly impact CSB’s economic performance and the obligation to absorb losses of CSB that could potentially be significant to the CSB or the right to receive benefits from CSB that could potentially be significant to CSB. GBL is the primary beneficiary of CSB because it has been assigned with all relevant rights and obligation and can direct the activities of CSB through the common directors and the 85% shareholder, FMR. Under 810-23-42, 43, it is determined that CSB is de-facto agent of GBL and GBL is the de-facto principal of CSB. GBL started to consolidate CSB from July 1, 2013 and the Company consolidated GBL and CSB from October 25, 2013 onwards.</p><p style="MARGIN:0px;text-align:justify"> </p><p style="MARGIN:0px;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>On February 17, 2014, the Company entered into a Supplementary Agreement to the Assignment Agreement and completed an acquisition of GBL pursuant to the Supplementary Agreement. The acquisition was a reverse acquisition in accordance with ASC 805-40 “Reverse Acquisitions”. The legal parent was VRDR which was the accounting acquiree while GBL was the accounting acquirer. There was a 15% non-controlling interest of Champmark SDN BHD (“CSB”) after the acquisition. This transaction was accounted for as a recapitalization effected by a share exchange, wherein GBL with its 85% deemed subsidiary CSB was considered the acquirer for accounting and financial reporting purposes. The assets and liabilities of the acquired entity have been brought forward at their book value and no goodwill has been recognized.</span></span></span></span></span></span></p><p style="MARGIN:0px;text-align:justify"> </p><p style="MARGIN:0px;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>As a result of the acquisition, the Company holds 100% equity interest in GBL and 85% variable interest in CSB. Our consolidated subsidiaries include GBL being our wholly-owned subsidiary and 85% of CSB being a variable interest entity (VIE) and deemed subsidiary of GBL.</span></span></span></span></span></span></p><p style="MARGIN:0px;text-align:justify"> </p><p style="MARGIN:0px;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>On March 17, 2014, the Company through GBL and its deemed subsidiary CSB entered into a Sub-Contract Agreement with Borneo Oil & Gas Corporation Sdn Bhd (“BOG”) for the engagement of its sub-contractor services to carry out exploration and exploitation works on alluvial and lode gold resources at Site IV-1 of the Merapoh Mine. The Sub-Contract Agreement is for a period of 5 years with a renewal for another 5 years subject to review by both parties. BOG is a wholly-owned subsidiary of Borneo Oil Berhad (BOB) which is listed on the main market of Kuala Lumpur Stock Exchange. BOG being a local company in Malaysia provides the Company with the advantage of local knowledge and well-established connection in dealing with the relevant local authorities in our mining operations.</span></span></span></span></span></span></p><p style="MARGIN:0px;text-align:justify"> </p><p style="MARGIN:0px;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>On April 1, 2014, GBL purchased 85% equity interest of CSB, and CSB became indirect subsidiary of the Company.</span></span></span></span></span></span></p><p style="MARGIN:0px;text-align:justify"> </p><p style="MARGIN:0px;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>Effective August 27, 2014, the Company’s Articles of Incorporation were amended to increase the authorized shares of the Company from 100,000,000 shares of common stock to 250,000,000 shares of common stock. A copy of the Certificate of Amendment was filed with the Nevada Secretary of State. The Form 8K announcing the increase of the authorized shares of the Company was filed with SEC on September 15, 2014.</span></span></span></span></span></span></p><p style="MARGIN:0px;text-align:justify"> </p><p style="MARGIN:0px;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>Effective February 20, 2016, Mr. Wu Ming Ding resigned all of his positions as President and Director of the Company with Mr. Balakrishnan B S Muthu being appointed President to fill the vacancy created. Effective February 20, 2016, Mr. Chen Ching was appointed Director of the Company and the entire Board of Directors now consists of Mr. Balakrishnan B S Muthu and Mr. Chen Ching. The SC 14F1 and Form 8-K announcing the change in officers and directors were filed with SEC on February 10, 2016 and February 22, 2016 respectively.</span></span></span></span></span></span></p><p style="MARGIN:0px"> </p><p style="MARGIN:0px"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>Effective February 2, 2018, the Company’s Articles of Incorporation were amended to increase the authorized shares of the Company from 250,000,000 shares of common stock to 10,000,000,000 shares of common stock. A copy of the Certificate of Amendment was filed with the Nevada Secretary of State. The Form 8K announcing the increase of the authorized shares of the Company was filed with SEC on February 6, 2018.</span></span></span></span></span></span></p> | ||
CY2018Q4 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.0001 | |
us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-68541 | USD | |
CY2019Q4 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.0002 | |
us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.0015 | ||
CY2019Q4 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
115038909 | shares |
CY2018Q4 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
115038909 | shares |
us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
115038909 | shares | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
162758 | USD | |
us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p style="MARGIN:0px;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><strong>Concentrations of Credit Risk</strong></span></span></span></span></span></span></p><p style="MARGIN:0px"> </p><p style="MARGIN:0px;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>The Company’s financial instruments that are exposed to concentrations of credit risk primarily consist of its cash and cash equivalents and related party payables it will likely incur in the near future. The Company places its cash and cash equivalents with financial institutions of high credit worthiness. At times, its cash and cash equivalents with a particular financial institution may exceed any applicable government insurance limits. The Company’s management plans to assess the financial strength and credit worthiness of any parties to which it extends funds, and as such, it believes that any associated credit risk exposures are limited.</span></span></span></span></span></span></p> | ||
us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
115038909 | shares | |
us-gaap |
Depreciation
Depreciation
|
3530 | USD | |
us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-4304 | USD | |
CY2019Q2 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
0 | USD |
CY2019Q4 | us-gaap |
Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
|
2243768 | USD |
CY2019Q4 | us-gaap |
Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
|
0 | USD |
CY2019 | vrdr |
Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential Two
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferentialTwo
|
0.25 | pure |
CY2019 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.21 | pure |
CY2019 | us-gaap |
Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
|
0 | pure |
vrdr |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance Three
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowanceThree
|
0.25 | pure | |
CY2019Q2 | us-gaap |
Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
|
0 | USD |
us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
0.21 | pure | |
vrdr |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance Two
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowanceTwo
|
0 | pure | |
CY2019 | vrdr |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance Two
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowanceTwo
|
0 | pure |
CY2019Q2 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
0 | USD |
vrdr |
Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential Two
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferentialTwo
|
0.25 | pure | |
us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.21 | pure | |
us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0 | pure | |
CY2019Q4 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
0 | USD |
CY2019 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0 | pure |
CY2019 | vrdr |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance Three
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowanceThree
|
0.25 | pure |
CY2019 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
0.21 | pure |
us-gaap |
Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
|
0 | pure | |
us-gaap |
Common Stock Voting Rights
CommonStockVotingRights
|
one vote | ||
CY2019 | vrdr |
Accounts Receivable Credit Term
AccountsReceivableCreditTerm
|
P60D | |
vrdr |
Accounts Receivable Credit Term
AccountsReceivableCreditTerm
|
P60D | ||
CY2019Q4 | us-gaap |
Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
|
0.2445 | pure |
CY2019Q2 | us-gaap |
Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
|
0.2420 | pure |
us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
1 | Segment | |
CY2019 | us-gaap |
Advertising Expense
AdvertisingExpense
|
0 | USD |
us-gaap |
Advertising Expense
AdvertisingExpense
|
0 | USD | |
us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="MARGIN:0px;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><strong>Use of Estimates</strong></span></span></span></span></span></span></p><p style="MARGIN:0px"> </p><p style="MARGIN:0px;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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 amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company’s periodic filings with the Securities and Exchange Commission include, where applicable, disclosures of estimates, assumptions, uncertainties and markets that could affect the financial statements and future operations of the Company.</span></span></span></span></span></span></p> | ||
CY2019Q4 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
|
0 | USD |
CY2019Q4 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
|
0 | USD |
CY2019Q2 | vrdr |
Percentage Of Shares
PercentageOfShares
|
0.08 | pure |
CY2019Q4 | vrdr |
Percentage Of Shares
PercentageOfShares
|
0.08 | pure |
CY2019Q4 | us-gaap |
Accounts Payable Related Parties Current
AccountsPayableRelatedPartiesCurrent
|
1575923 | USD |
CY2019Q2 | us-gaap |
Accounts Payable Related Parties Current
AccountsPayableRelatedPartiesCurrent
|
1560032 | USD |
CY2019Q2 | vrdr |
Imprest Charges On Hire Purchase Loans Payable To Banks
ImprestChargesOnHirePurchaseLoansPayableToBanks
|
45 | USD |
vrdr |
Imprest Charges On Hire Purchase Loans Payable Average Annual Rate
ImprestChargesOnHirePurchaseLoansPayableAverageAnnualRate
|
0 | pure | |
CY2019Q4 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
0 | shares |
CY2018Q4 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
0 | shares |
CY2019Q4 | us-gaap |
Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
|
0 | USD |
CY2019Q4 | vrdr |
Imprest Charges On Hire Purchase Loans Payable To Banks Current
ImprestChargesOnHirePurchaseLoansPayableToBanksCurrent
|
0 | USD |
CY2019Q4 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
|
0 | USD |
us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
0 | shares | |
us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
0 | shares | |
us-gaap |
Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
|
0 | shares | |
us-gaap |
Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
|
0 | shares | |
CY2019Q4 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
115038909 | shares |
CY2018Q4 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
115038909 | shares |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
115038909 | shares | |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
115038909 | shares | |
CY2016Q3 | us-gaap |
Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
|
4750000 | shares |
CY2018Q1 | us-gaap |
Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
|
10000000 | shares |
CY2016Q3 | us-gaap |
Shares Issued Price Per Share
SharesIssuedPricePerShare
|
0.04 | |
CY2018Q1 | us-gaap |
Shares Issued Price Per Share
SharesIssuedPricePerShare
|
0.02 | |
CY2018Q1 | vrdr |
Number Of Directors
NumberOfDirectors
|
2 | Director |
CY2019Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
0 | USD |
CY2019Q4 | us-gaap |
Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
|
0 | shares |
CY2018Q4 | us-gaap |
Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
|
0 | shares |
CY2019Q4 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
115038909 | shares |
CY2018Q4 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
115038909 | shares |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
115038909 | shares | |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
115038909 | shares | |
CY2019Q4 | vrdr |
Foreign Currency Average Exchange Rate Translation
ForeignCurrencyAverageExchangeRateTranslation
|
0.2404 | pure |
CY2019Q2 | vrdr |
Foreign Currency Average Exchange Rate Translation
ForeignCurrencyAverageExchangeRateTranslation
|
0.2425 | pure |
vrdr |
Percentage Of Gross Revenue As Cost Of Revenue
PercentageOfGrossRevenueAsCostOfRevenue
|
0.18 | pure | |
CY2019Q4 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
|
0 | USD |
CY2019Q4 | vrdr |
Imprest Charges On Hire Purchase Loans Payable To Banks Non Current
ImprestChargesOnHirePurchaseLoansPayableToBanksNonCurrent
|
0 | USD |