|
NOTES RECEIVABLE (Details)
|
0 Months Ended | 3 Months Ended | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|
Feb. 25, 2013
|
Nov. 26, 2012
USD ($)
|
Jul. 12, 2012
USD ($)
|
Jul. 12, 2012
RUB
|
Mar. 31, 2013
USD ($)
|
Mar. 31, 2012
USD ($)
|
Mar. 31, 2013
RUB
|
Dec. 31, 2012
USD ($)
|
Aug. 16, 2012
USD ($)
|
Aug. 16, 2012
RUB
|
|
| As of December 31, 2012, the Company had net notes receivable of approximately $5.8 million as follows: | ||||||||||
| RM Invest | $ 257,372 | 8,000,000 | $ 5,188,934 | |||||||
| Infratont Equities, Inc. | 1,791,475 | 1,191,475 | 1,791,475 | |||||||
| Less: Allowance for loan losses | (891,475) | (891,475) | ||||||||
| Total note receivable, net | 557,372 | 6,088,934 | ||||||||
| RM Invest | ||||||||||
| Maximum lending exposure under lending agreement | 7,000,000 | 200,000,000 | 9,800,000 | 300,000,000 | ||||||
| Interest rate | 10.00% | 10.00% | ||||||||
| Maturity date under agreement | Oct. 01, 2013 | Oct. 31, 2012 | Oct. 31, 2012 | |||||||
| Effective interest rate earned | 40.00% | 40.00% | ||||||||
| Receivable from RM Invest | 257,372 | 8,000,000 | 5,188,934 | |||||||
| Collections from notes receivable | 5,531,562 | |||||||||
| Infratont Equities, Inc. | ||||||||||
| Receivable from Infratont Equities, Inc. | $ 1,791,475 | $ 1,191,475 | $ 1,791,475 | |||||||
| Maturity date under agreement | Nov. 15, 2013 | |||||||||
| Interest rate | 1.75% | |||||||||