ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

12 Months Ended

Dec. 31, 2011

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

12. ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

Accrued expenses and other current liabilities consist of the following:

	As of December 31,
	2010		2011
Accrued welfare benefits	$	573,500	$	507,458
Accrued payroll		560,838		981,537
Advance from customers		1,253,312		1,252,647
Accrued service fees		2,929,965		2,983,743
Other tax payables		2,375,812		3,138,414
Acquisition consideration payable (i)		40,155,908		-
Others		235,522		625,995
	$	48,084,857	$	9,489,794

(i) The balance of acquisition contingent consideration payable as of December 31, 2010 represented the contingent consideration in relation to the acquisition of Dacheng (see note 3(e)). The contingency was resolved and the consideration was settled in 2011.