INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2013

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	$	-	$	-