v2.4.0.6
SEGMENT INFORMATION (Tables)
3 Months Ended
Mar. 31, 2013
SEGMENT INFORMATION [Abstract]  
Schedule of financial information by reportable segment

The following tables present financial information of the Company's reportable segments for the quarters ended March 31, 2013 and 2012. The "eliminations" column includes all intercompany eliminations for consolidated purposes.

 

          For the quarter ended March 31, 2013  
Description   Mobile Commerce
Payment Processing
Services
    Online Businesses     Eliminations     Totals  
Net revenues   $ 868,151     $ 6,364     $ -     $ 874,515  
Cost of revenues     (264,504 )     (10,962 )     -       (275,466 )
General and administrative     (229,199 )     (2,839,126 )     -       (3,068,325 )
Allocations     (125,074 )     125,074       -       -  
Provision for loan losses     (406,585 )     -       -       (406,585 )
Depreciation and amortization     -       (43,075 )     -       (43,075 )
Interest expense     (145,666 )     (104,904 )     -       (250,570 )
Intercompany interest income (expense)     (253,758 )     253,758       -       -  
Other expense     -       (80,541 )     -       (80,541 )
Income tax provision     -       -       -       -  
Non-controlling interest     (660 )     16,876       -       16,216  
Net Loss   $ (557,295 )   $ (2,676,536 )   $ -     $ (3,233,831 )
Assets   $ 21,582,901     $ 2,219,908     $ -     $ 23,802,809  
Short Term Loans   $ 8,513,311     $ -     $ -     $ 8,513,311  
                                 
                                 
              For the quarter ended March 31, 2012  
Description     Mobile Commerce
Payment Processing
Services
      Online Businesses       Eliminations       Totals  
Net revenues   $ -     $ 74,810     $ -     $ 74,810  
Cost of revenues     -       (100,585 )     -       (100,585 )
General and administrative     -       (4,017,747 )     -       (4,017,747 )
Allocations     -       -       -       -  
Depreciation and amortization     -       (68,663 )     -       (68,663 )
Interest income (expense)     -       (72,674 )     -       (72,674 )
Other Income (expense)     -       (411,225 )     -       (411,225 )
Non-controlling interest     -       72,088       -       72,088  
Net Loss   $ -     $ (4,523,996 )   $ -     $ (4,523,996 )