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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended
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Dec. 31, 2012
Accounting Policies [Abstract] |
Property and Equipment Estimates Lives | Depreciation of property and equipment is provided using the straight-line method over the estimated lives as follows:
Building | 20 years
Vehicle | 2 - 5 years
Office and Other Equipment | 2 - 5 years
Software | 2 - 3 years
Reconciliation of Basic and Diluted Earnings Per Share | The following table presents a reconciliation of basic and diluted EPS for the years ended December 31, 2012 and 2011:
|  | 2012 |  |  | 2011 |
Net income for common shares |  | $ | 3,406,995 |  |  | $ | 21,449,879 |
Interest accrued on convertible notes* |  |  | 383,929 |  |  |  | 168,000 |
Net income for diluted shares |  | $ | 3,622,924 |  |  | $ | 21,617,879 |
Weighted average shares outstanding – basic |  |  | 47,560,416 |  |  |  | 42,454,304 |
Effect of dilutive securities: |  |  |  |  |  |  |  |
Convertible notes |  |  | 2,663,934 |  |  |  | 11,976,692 |
Options granted |  |  | 812,905 |  |  |  | 1,612,614 |
Warrants granted |  |  | - |  |  |  | 11,780 |
Weighted average shares outstanding – diluted |  |  | 51,037,255 |  |  |  | 56,055,390 |
Earnings (loss) per share – basic |  | $ | 0.07 |  |  | $ | 0.51 |
Earnings (loss) per share – diluted |  | $ | 0.07 |  |  | $ | 0.39 |
| * | Interest expense on convertible notes was added back to net income for the computation of diluted EPS.

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- Definition Tabular disclosure of the useful life and salvage value of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 13 -Subparagraph b -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 12 -Paragraph 5 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.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 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 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 210.5-02.13) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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- Definition Tabular disclosure of the numerators and the denominators of the basic and diluted per-share (or per-unit) computations for income from continuing operations, including the effect that has been given to preferred dividends. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
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