NET (LOSS) INCOME PER SHARE

12 Months Ended

Dec. 31, 2013

NET (LOSS) INCOME PER SHARE [Abstract]

NET (LOSS) INCOME PER SHARE

24. NET (LOSS) INCOME PER SHARE

The following table sets forth the computation of basic and diluted net (loss) income per share:

	For the years ended December 31,
	2011			2012		2013
Net (loss) income (numerator), basic and diluted	$	(7,654,862	)	$	25,739,968	$	20,661,649
Shares (denominator):
Weighted average ordinary shares outstanding used in computing basic net (loss) income per share		1,607,110,119			1,661,864,846		1,714,924,612
Effect of dilutive securities:
Plus incremental weighted average ordinary shares from assumed conversions of stock options, nonvested shares and warrants using the treasury stock method		-			59,757,910		36,696,728
Total weighted average shares used in computing diluted net (loss) income per share		1,607,110,119			1,721,622,756		1,751,621,340
Net (loss) income per share, basic	$	(0.00	)	$	0.02	$	0.01
Net (loss) income per share, diluted	$	(0.00	)	$	0.01	$	0.01

The dilutive effects of the options, nonvested shares and warrants are calculated using the treasury stock method. Under the treasury stock method, the proceeds from the assumed conversion of options, nonvested shares and warrants, which include the benefit of the compensation costs attributable to future services and not yet recognized, are used to repurchase outstanding ordinary shares using average market prices.

The dilutive effect of the convertible senior note in 2011 was calculated using if-converted method. Under the if-convertible method, the interest less income tax effects applicable to the convertible senior note is added back to the numerator. The convertible senior note is assumed to have been converted at the beginning of the period.

For the years ended December 31, 2011, 2012 and 2013, the Company had the following securities outstanding which could potentially dilute basic net (loss) income per share in the future, but were excluded from the computation of diluted net (loss) income per share in 2011, 2012 and 2013 as their effects would have been antidilutive:

	For the years ended December 31,
	2011		2012		2013
Options, nonvested shares and warrants		187,160,617		285,312,520		11,320,000
Convertible senior note		22,800,000		-		-