PREPAID EXPENSES AND OTHER CURRENT ASSETS

12 Months Ended

Dec. 31, 2014

PREPAID EXPENSES AND OTHER CURRENT ASSETS [Abstract]

PREPAID EXPENSES AND OTHER CURRENT ASSETS

8. PREPAID EXPENSES AND OTHER CURRENT ASSETS

Prepaid expenses and other current assets consist of the following:

	As of December 31,
	2013		2014
Prepayment to service providers	$	2,553,524	$	9,561,090
Employee advances		1,000,762		332,923
Other deposits		1,110,945		1,134,027
Interest receivables		2,880,612		5,063,320
VAT recoverable		-		2,174,745
Other current assets		216,727		803,799
	$	7,762,570	$	19,069,904