EXIT and DISPOSAL ACTIVITIES (Tables)

12 Months Ended

Dec. 31, 2013

EXIT and DISPOSAL ACTIVITIES [Abstract]

Schedule of Operating Results Reported as Discontinued Operations

The discontinued operations were retrospectively reflected for all the prior years presented in the consolidated statements of operations. The operating results reported as discontinued operations for the years ended December 31, 2011, 2012 and 2013, are summarized as follows:

	Year ended December 31,
	2011			2012			2013
Revenues	$	29,082,384		$	6,454,830		$	-
Operating costs and expenses		(36,943,483	)		(9,946,357	)		-
Loss from discontinued operations before income taxes		(7,861,099	)		(3,491,527	)		-
Income tax benefit		2,003,289			-			-
Loss from discontinued operations	$	(5,857,810	)	$	(3,491,527	)	$	-

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

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