XML 54 R36.htm IDEA: XBRL DOCUMENT
v2.4.0.8

INCOME TAXES (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2013
Income Tax Disclosure [Abstract] |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | The components of loss from continuing operations before income tax provision are as follows:
|  | December 31, |  | December 31, |
|  | 2013 |  | 2012 (as restated) |
United States |  | $ | (38,963,263) |  | $ | (12,148,458) |
Foreign |  |  | (8,922,473) |  |  | (919,325) |
|  | $ | (47,885,736) |  | $ | (13,067,783) |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | The following is a reconciliation of the effective income tax rate with the U.S. federal statutory income tax rate at December 31, 2013 and December 31, 2012:
|  | December 31, |  |  | December 31, |
|  | 2013 |  |  | 2012 (as restated) |
U. S. Federal statutory income tax rate |  |  | 34.0 | % |  |  | 34.0 | %
State income tax, net of federal tax benefit |  |  | 1.7 | % |  |  | 1.9 | %
Compensation related permanent differences |  |  | -11.8 | % |  |  | -16.2 | %
Difference in foreign tax rates |  |  | -0.9 | % |  |  | -1.6 | %
Nondeductible provision for loan losses |  |  | -4.5 | % |  |  | - |
Change in uncertain tax liabilities |  |  | -0.4 | % |  |  | - | %
Increase in valuation allowance |  |  | -18.5 | % |  |  | -19.3 | %
Effective income tax rate |  |  | -0.4 | % |  |  | -1.2 | %
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | Significant components of our deferred tax assets and liabilities as of December 31, 2013 and December 31, 2012 are as follows:
|  | December 31, |  | December 31, |
|  | 2013 |  | 2012 (as restated) |
Deferred tax assets: |  |  |  |  |  |  |
Net operating loss carry forwards |  | $ | 12,343,403 |  | $ | 9,722,855 |
Basis difference in goodwill |  |  | 3,917,676 |  |  | - |
Share based compensation |  |  | - |  |  | 72,940 |
Basis difference in intangible assets |  |  | 648,940 |  |  | 104,464 |
Allowance for bad debt (US) |  |  | 480,515 |  |  | - |
Valuation allowance for deferred tax assets |  |  | (17,371,908) |  |  | (9,841,545) |
Total deferred tax assets |  |  | 18,626 |  |  | 58,714 |
Deferred tax liabilities: |  |  |  |  |  |  |
Basis difference in fixed assets |  |  | (18,626) |  |  | (13,180) |
Basis difference in intangible assets |  |  | - |  |  | (45,534) |
Total deferred tax liabilities |  |  | (18,626) |  |  | (58,714) |
Net deferred taxes |  | $ | - |  | $ | - |

X
- Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)(1)(i)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration