Overview

Adamant DRI Processing and Minerals Group (the "Company," "we" or "us" or words
of similar meaning), is a Nevada corporation incorporated in July 2014 and
successor by merger to UHF Incorporated, a Delaware corporation ("UHF"), which
in turn was the successor to UHF Incorporated, a Michigan corporation ("UHF
Michigan"), as a result of domicile merger effected on December 29, 2011.

We engaged in various business since our incorporation. We were not successful
in any of the businesses we entered and discontinued all of our remaining
operations effective March 31, 2019, at which time we became a non-operating
shell company with nominal assets. In August 2021 we filed a Registration
Statement on Form 10 and became subject to the reporting requirements of the
Exchange Act. We also are considered a "blank check company" subject to Rule
419. We intend to seek, investigate and, if such investigation warrants, engage
in a business combination which may take the form of a "reverse merger" with a
private entity whose business presents an opportunity for our stockholders.

During the next 12 months, we anticipate incurring costs to file Exchange Act
reports, and, if a suitable target company is found, costs to consummate
acquisition. We believe we will be able to meet these costs through amounts, as
necessary, to be loaned by or invested in us by our stockholders, management or
other investors. We have no specific plans, understandings or agreements with
respect to the raising of such funds, and we may seek to raise the required
capital by the issuance of equity or debt securities or by other means. Since we
have no such arrangements or plans currently in effect, our inability to raise
funds for the consummation of an acquisition may have a severe negative impact
on our ability to become a viable company.

Results of Operations

Comparison of the years ended December 31, 2021 and 2020



                                                                                                Dollar         Percentage
                                     2021        % of Sales        2020       % of Sales       Increase         Increase
Revenue                            $       -               - %   $      -               - %   $        -                n/a %
Cost of services provided                  -               - %          -               - %            -                n/a %
Gross profit                               -               - %          -               - %            -                n/a %
Operating expenses                    61,099               - %      2,500               - %       58,599              2,344 %
Loss from operations                 (61,099 )             - %     (2,500 )             - %       58,599              2,344 %
Total non-operating income, net          200                 %          -  

            - %          200                100 %
Loss before income taxes             (60,899 )             - %     (2,500 )             - %       58,399              2,336 %
Income tax expense                         -               - %          -               - %            -                  - %
Net loss                           $ (60,899 )             - %   $ (2,500 )             - %   $   58,399              2,336 %



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Operating Expenses

Operating expenses were $61,099 for the year ended December 31, 2021, compared
to $2,500 for the year ended December 31, 2020, an increase of $58,599 or
2,344%, primarily as a result of the increase of professional fees of $51,518,
which related to the SEC filings.

Loss from Operations



Loss from operations was $60,899 for the year ended December 31, 2021, compared
to loss from continuing operation of $2,500 for the year ended December 31,
2020. The $58,399 or 2,336% increase in loss from operations was mainly due to
the increase of professional fees as described above.

Net Loss

We had a net loss of $60,899 for the year ended December 31, 2021, compared to net loss of $2,500 for the year ended December 31, 2020.

Liquidity and Capital Resources



As of December 31, 2021, and December 31, 2020, cash and equivalents and
restricted cash were $0. At December 31, 2021, we had a working capital deficit
of $66,099. The increase in our working capital deficit during the year ended
December 31, 2021, reflects the fact that during such period we had expenses of
$61,099.

We have had to rely on loans from our sole director to maintain our operations
since we disposed of our interest in Shenzhen Technology Company and became a
shell company in March 2019. We anticipate incurring a minimum of $50,000 in
expenses over the next twelve months and could incur more significant expenses
in connection with any proposed acquisition. In all likelihood we will remain
dependent upon the efforts of our sole director and officer, and his willingness
and that of our principal stockholders to provide the capital necessary to
continue our business and fund our cash needs until we generate meaningful
revenues. There can be no assurance that we will be able to raise the funds
necessary to fund our operations until such time as we complete a business
combination and we cannot assure you that we can identify a suitable business to
acquire or combine with. If we were to fail to raise the capital necessary to
maintain our operations our common stock would likely become worthless.

The following is a summary of cash provided by or used in each of the indicated
types of activities during the years ended December 31, 2021 and 2020,
respectively.

                                                 Years Ended
                                                 December 31,
                                              2021          2020

Net cash used in operating activities $ (38,581 ) $ (2,500 ) Net cash used in investing activities

               -            -

Net cash provided by financing activities $ 38,581 $ 2,500

Net cash used in operating activities


Net cash used in operating activities was $38,580 and $2,500 for the years ended
December 31, 2021 and 2020, respectively. The increase of cash outflow from
operating activities for the year ended December 31, 2021 was mainly due to the
increased net loss resulting from increased profession fees related to the SEC
filings.

Net cash used in investing activities

Net cash used in investing activities was $0 for the years ended December 31, 2021 and 2020, respectively.



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Net cash provided by financing activities



Net cash provided by financing activities was $38,580 and $2,500 for the years
ended December 31, 2021 and 2020, respectively. The net cash provided by
financing activities were advances from a related party for paying expenses of
the Company.

Off-Balance Sheet Arrangements



We have not entered into any financial guarantees or other commitments to
guarantee the obligations of any third parties. We have not entered into any
derivative contracts that are indexed to our shares and classified as
shareholder's equity or that are not reflected in our consolidated financial
statements. Furthermore, we do not have any retained or contingent interest in
assets transferred to an unconsolidated entity that serves as credit, liquidity
or market risk support to such entity. We do not have any variable interest in
any unconsolidated entity that provides financing, liquidity, market risk or
credit support to us or engages in leasing, hedging or research and development
services with us.

Critical Accounting Policies and Estimates



Our management's discussion and analysis of our financial condition and results
of operations is based on our consolidated financial statements, which were
prepared in accordance with US GAAP. While our significant accounting policies
are more fully described in Note 2 to our consolidated financial statements, we
believe the following accounting policies are the most critical to aid you in
fully understanding and evaluating this management discussion and analysis.

Going Concern


Our financial statements have been prepared assuming that we will continue as a
going concern. We incurred losses of $60,899 and $2,500 for the years ended
December 31, 2021 and 2020, respectively. As of December 31, 2021, we had a
working capital deficit of $66,099, and an accumulated deficit of $9,479,200.
These factors raise substantial doubt about our ability to continue as a going
concern. Our capital requirements will depend on many factors including whether
we can identify a target for acquisition. In all likelihood we will remain
dependent upon the efforts of our sole director and officer, and his willingness
and that of our principal stockholders to provide the capital necessary to
continue our business and fund our cash needs until we generate meaningful
revenues. There can be no assurance that we will be able to raise the funds
necessary to fund our operations until such time as we complete a business
combination. Our financial statements do not include any adjustments relating to
the recoverability and classification of recorded assets, or the amounts and
classifications of liabilities that might be necessary should the Company be
unable to continue as a going concern.

Basis of Presentations

Our financial statements are prepared in accordance with US GAAP and the requirements of Regulation S-X promulgated by the Securities and Exchange Commission ("SEC").

Use of Estimates



In preparing financial statements in conformity with US GAAP, management makes
estimates and assumptions that affect the reported amounts of assets and
liabilities and disclosures of contingent assets and liabilities at the dates of
the financial statements, as well as the reported amounts of revenues and
expenses during the reporting period. Significant estimates, required by
management, include the recoverability of long-lived assets, allowance for
doubtful accounts, and the reserve for obsolete and slow-moving inventories.
Actual results could differ from those estimates.

Revenue Recognition



The Company follows Accounting Standards Update ("ASU") 2014-09 (and related
amendments subsequently issued in 2016), Revenue from Contracts with Customers
(ASC 606).

FASB ASC Topic 606 requires use of a new five-step model to recognize revenue
from customer contracts. The five-step model requires the Company (i) identify
the contract with the customer, (ii) identify the performance obligations in the
contract, (iii) determine the transaction price, including variable
consideration to the extent that it is probable that a significant future
reversal will not occur, (iv) allocate the transaction price to the respective
performance obligations in the contract, and (v) recognize revenue when (or as)
the Company satisfies each performance obligation.

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Segment Reporting


Disclosures about segments of an enterprise and related information require use
of the "management approach" model for segment reporting, codified in FASB ASC
Topic 280. The management approach model is based on the way a company's
management organizes segments within the company for making operating decisions
and assessing performance. Reportable segments are based on products and
services, geography, legal structure, management structure, or any other manner
in which management disaggregates a company.

Recent Accounting Pronouncements



In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for
Income Taxes, which simplifies the accounting for income taxes, eliminates
certain exceptions within ASC 740, Income Taxes, and clarifies certain aspects
of the current guidance to promote consistent application among reporting
entities. The guidance is effective for fiscal years beginning after December
15, 2020, and interim periods within those fiscal years, with early adoption
permitted. Upon adoption, the Company must apply certain aspects of this
standard retrospectively for all periods presented while other aspects are
applied on a modified retrospective basis through a cumulative-effect adjustment
to retained earnings as of the beginning of the fiscal year of adoption. The
adoption of this standard did not have a material impact on the Company's
financial statements.

Other recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the SEC did not or are not believed by management to have a material impact on the Company's present or future CFS.

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