INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2012

INCOME TAXES [Abstract]

Components of Deferred Tax Assets and Liabilities

	As of December 31,
	2011			2012
Current deferred tax assets
Accrued expenses	$	335,946		$	166,357
Less: valuation allowance		(335,946	)		(166,357	)
Current deferred tax assets, net	$	-		$	-
Non-current deferred tax assets
Net operating loss carry forwards		78,740			65,738
Less: valuation allowance		(78,740	)		(65,738	)
Non-current deferred tax assets, net	$	-		$	-
Deferred tax liabilities
Amortization of intangible assets	$	271,622		$	10,498

Income Taxes Expense

	For the years ended December 31,
	2010			2011			2012
Current	$	4,578,091		$	3,326,277		$	3,558,263
Deferred		(628,088	)		(188,439	)		(67,421	)
Total	$	3,950,003		$	3,137,838		$	3,490,842

Effective Tax Rate

	For the years ended December 31,
	2010			2011			2012
	%			%			%
Applicable rate for reconciliation purpose (note)		25	%		(25	)%		25	%
Effect of tax holiday granted to PRC entities		(26.7	)%		(50.7	)%		(7.6	)%
Effect on tax rates in different tax jurisdiction (note)		(5.8	)%		(23.7	)%		12.5	%
Tax effect of expenses that are not deductible in determining taxable profit		37.7	%		(6.7	)%		3.1	%
Tax effect of allowable special deduction in determining taxable profit		-			36.1	%		(20.5	)%
Change in valuation allowance		(5.3	)%		0.5	%		(0.6	)%
Effective tax rate for the year		24.9	%		(69.5	)%		11.9	%

Note: The domestic tax rate in the jurisdiction where the operation of the Company is substantially based is used. Expenses that are not deductible included accrued salary and accrued bonus which exceeded the upper limit of deduction under the New EIT Law.

Tax Holidays

	For the years ended December 31,
	2010		2011		2012
Increase in income tax expense	$	4,235,642	$	2,290,131	$	2,207,096
Impact on net income (loss) per ordinary share-basic	$	0.00	$	0.00	$	0.00
Impact on net income (loss) per ordinary share-diluted	$	0.00	$	0.00	$	0.00