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SHARE BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2012

SHARE BASED COMPENSATION [Abstract]

Schedule of Assumptions Used

The following assumptions were used in the Binomial option pricing model:

		Year Ended December 31, 2010
Options granted		Average risk-free rate of return		Exercise multiple		Volatility rate		Dividend yield		Post- vesting forfeiture rate
October 6, 2010		3.5%		3 times		50.0%		0%		3%
December 3, 2010		3.5%		2.2~3 times		50.0%		0%		3~9%

The following assumptions were used in the Binomial option pricing model:

		Year Ended December 31, 2012
Options granted		Average risk-free rate of return		Exercise multiple		Volatility rate		Dividend yield		Post- vesting forfeiture rate
January 9, 2012		2.05%		2.2 ~ 3.0 times		58.7%		0%		3-9.5%

Summary of Stock Option Activity

A summary of the aggregate option activity and information regarding options outstanding as of December 31, 2012 is as follows:

		Number of Options				Weighted Average Exercise Price				Weighted Average Remaining Contract Life				Aggregate Intrinsic Value
Options outstanding on January 1, 2012 (after modification of exercise price)			6,805,000			$	0.42
Granted			1,190,000			$	0.42
Forfeited			(815,500	)		$	0.42
Options outstanding on December 31, 2012			7,179,500			$	0.42				7.4			$	-
Options vested or expected to vest on December 31, 2012			5,765,425			$	0.42				7.4			$	-
Options exercisable on December 31, 2012			4,337,417			$	0.42				7.0			$	-

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- Definition

Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year.

+ References

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 718

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (c)(1)

-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

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- Definition

Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

+ References

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 718

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (f)(2)

-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

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