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WARRANTS (Tables)

12 Months Ended

Dec. 31, 2012

Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]

Schedule of Warrants [Table Text Block]

The fair value of the outstanding warrants at December 31, 2012 was calculated using the Black Scholes Model with the following assumptions:

Market price per share (USD/share)		1.93
Exercise price (USD/share)		$4.00, $9.60, $10.00
Risk free rate		0.25%, 0.25%, 0.75%
Dividend yield		-
Expected term/Contractual life (years)		2.30, 2.30, 4.02
Expected volatility		187.1%

Fair Value, by Balance Sheet Grouping [Table Text Block]

The following table sets forth by level within the fair value hierarchy our financial assets and liabilities that were accounted for at fair value on a recurring basis as of December 31, 2012 and 2011.

		Carrying Value at December 31, 2012				Fair Value Measurement at December 31, 2012
						Level 1				Level 2				Level 3
Warrants liability		$	374,166			$	-			$	374,166			$	-

		Carrying Value at December 31, 2011				Fair Value Measurement at December 31, 2011
						Level 1				Level 2				Level 3
Warrants liability3		$	96,469			$	-			$	96,469			$	-

Schedule of Warrant Activity [Table Text Block]

The following is a reconciliation of the beginning and ending balances of warrants liability measured at fair value on a recurring basis using Level 2 inputs:

		December 31, 2012				December 31, 2011
		US$				US$
Beginning balance			96,469				318,109
Warrants issued			97,505				-
Fair value change of the issued warrants included in earnings			180,192				(221,640	)
Ending balance			374,166				96,469

Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]

Following is a summary of the warrants activity:

		Number				Weighted Average Exercise Price				Weighted Average Remaining Contractual Life
Outstanding as of January 1, 2011			157,500			$
Granted			-
Forfeited			-
Exercised			-
Outstanding as of December 31, 2011			157,500			$	9.98				3.31
Granted			100,000
Forfeited			-
Exercised			-
Outstanding as of December 31, 2012			257,500			$	7.66				2.97

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Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value.

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Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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