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GOING CONCERN CONSIDERATIONS | 12 Months Ended
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Dec. 31, 2013
Going Concern Considerations [Abstract] |
Going Concern Considerations [Text Block] | NOTE 3. GOING CONCERN CONSIDERATIONS The Company’s consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. The Company had negative cash flows from continuing operations of $10.8 million for the year ended December 31, 2013, an accumulated deficit of $119 million and negative working capital of $8.0 million at December 31, 2013. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. Failure to successfully continue developing the Company’s payment processing operations and maintain contracts with merchants, mobile phone carriers and content providers to use TOT Group’s services could harm the Company’s revenues and materially adversely affect its financial condition and results of operations. The Company faces all of the risks inherent in a new business, including the need for significant additional capital, management’s potential underestimation of initial and ongoing costs, and potential delays and other problems in connection with developing the Company’s technologies and operations. The Company is continuing with its plan to further grow and expand its payment processing operations in emerging markets, particularly in Russia and surrounding countries. Management believes that its current operating strategy will provide the opportunity for the Company to continue as a going concern as long as we are able to obtain additional financing; however, there is no assurance this will occur. The accompanying consolidated financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. The independent auditors’ report on the Company’s consolidated financial statements for the year ended December 31, 2013 contains an explanatory paragraph expressing substantial doubt as to the Company’s ability to continue as a going concern.

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- Definition Tabular disclosure of going concern considerations. + References No definition available. + Details
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