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Equity Investment in Unconsolidated Subsidiary

6 Months Ended

Jun. 30, 2011

Equity Investment in Unconsolidated Subsidiary

Equity Investment in Unconsolidated Subsidiary

3.           EQUITY INVESTMENT IN UNCONSOLIDATED SUBSIDIARY

Following is the summarized financial information of CPL as of June 30, 2011 and December 31, 2010 and the three and six months ended June 30, 2011 and 2010:

	Amounts in thousands (in USD):		June 30,				December 31,
			2011				2010
	Balance Sheet:
	Current assets		$	5,352			$	4,197
	Noncurrent assets		$	12,923			$	10,927
	Current liabilities		$	7,184			$	5,503
	Noncurrent liabilities		$	3,923			$	3,842

			For the three months								For the six months
			ended June 30,								ended June 30,
			2011				2010				2011				2010
	Operating Results
	Net operating revenue		$	13,663			$	10,973			$	25,199			$	24,727
	Net earnings		$	1,147			$	480			$	1,422			$	1,044

The Company's maximum exposure to losses in CPL at June 30, 2011 was $3.3 million, the value of its equity investment in CPL.

Changes in the carrying amount of the investment in CPL during the six months ended June 30, 2011 are as follows:

	Amounts in thousands (in USD)		Total
	Balance – December 31, 2010		$	2,806
	Equity Earnings			474
	Effect of foreign currency translation			220
	Dividend			(163	)
	Balance – June 30, 2011		$	3,337

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- Definition

The entire disclosure for equity investment, or group of investments, for which combined disclosure is appropriate, including: (a) the name of each investee and percentage of ownership of common stock, (b) accounting policies for investments in common stock, (c) difference between the amount at which the investment is carried and the amount of underlying equity in net assets and the accounting treatment of the difference, (d) the total fair value of each identified investment for which a market value is available, (e) summarized information as to assets, liabilities, and results of operations of the investees (for investments in unconsolidated subsidiaries, common stock of joint ventures, or other investments using the equity method), and (f) material effects of possible conversions, exercises, or contingent issuances of the investee. Other disclosures include (a) the names of any investee in which the investor owns 20 percent or more of the voting stock and investment is not accounted for using the equity method, and the reasons why not, and (b) the names of any investee in which the investor owns less than 20 percent of the voting stock and the investment is accounted for using the equity method, and the reasons why it is.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6382943&loc=d3e33918-111571

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 35
-Paragraph 32
-URI http://asc.fasb.org/extlink&oid=6903645&loc=d3e32787-111569

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 18
-Paragraph 20
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.12)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 35
-Paragraph 35
-URI http://asc.fasb.org/extlink&oid=6903645&loc=d3e32847-111569

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