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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Jun. 30, 2013

Accounting Policies [Abstract]

Property and Equipment Estimated 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 earnings per share for the six and three months ended June 30, 2013 and 2012:

		Six Months Ended						Three Months Ended
		2013			2012			2013			2012
Net income for common shares		$	7,031,534		$	3,246,687		$	3,733,344		$	1,224,122
Interest expense on convertible notes*			-			502,487			-			264,125
Net income for diluted shares		$	7,031,534		$	3,749,174		$	3,733,344		$	1,488,247
Weighted average shares outstanding – basic			50,224,350			46,474,350			50,224,350			46,474,350
Effect of dilutive securities:
Convertible notes			-			3,810,000			-			3,810,000
Options granted			633,173			1,000,895			546,111			1,094,741
Weighted average shares outstanding – diluted			50,857,523			51,285,245			50,770,461			51,379,091
Earnings per share – basic		$	0.14		$	0.07		$	0.07		$	0.03
Earnings per share – diluted		$	0.14		$	0.07		$	0.07		$	0.03

* 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 physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.

+ References

Reference 1: 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 2: 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



Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 13

-Subparagraph b

-Article 5

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Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

+ References

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

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