v2.4.1.9

INCOME TAXES (Tables)

3 Months Ended

Mar. 31, 2015

Income Tax Disclosure [Abstract]

Schedule Of Components Of Income Tax Expense (Benefit) [Table Text Block]

The provision for income taxes on income consisted of the following for the three months ended March 31, 2015 and 2014:

		For The Three Months Ended
		March 31,
		2015			2014
Current income tax expense (benefit)
U.S.		$	-		$	-
PRC			56,448			83,249
Total current expense (benefit)		$	56,448		$	83,249
Deferred income tax expense (benefit)
U.S.		$	-		$	-
PRC			-			-
Income tax expense (benefit)		$	56,448		$	83,249

Schedule Of Effective Income Tax Rate Reconciliation [Table Text Block]

The following is a reconciliation of the statutory tax rate to the effective tax rate for the three months ended March 31, 2015 and 2014:

		For The Three Months Ended
		March 31,
		2015				2014
Expected U.S. income tax expense			34.0	%			34.0	%
Increase (decrease) in taxes resulting from:
Tax-exempt income			-32.9	%			-33.0	%
Foreign tax differential			0.2	%			0.0	%
Change in valuation allowance			4.6	%			-0.2	%
Intercompany elimination			0.0	%			0.0	%
Other			-3.5	%			0.1	%
Income tax expense			2.4	%			0.9	%

Schedule Of Deferred Tax Assets and Liabilities [Table Text Block]

Significant components of the Company’s net deferred tax assets as of March 31, 2015 and December 31, 2014 are presented in the following table:

		March 31,			December 31,
		2015			2014
Deferred tax assets
Net operating loss carryforwards (NOL)		$	5,741,096		$	5,696,456
Share-based compensation			407,099			407,099
Others			438,203			438,122
Total			6,586,398			6,541,677
Less: Valuation allowance			(6,586,398)			(6,541,677)
Total deferred tax assets, net		$	-		$	-

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- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 9

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

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- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 12

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319

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