ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

12 Months Ended

Dec. 31, 2014

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES [Abstract]

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

15. ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

Accrued expenses and other current liabilities consist of the following:

	As of December 31,
	2013		2014
Accrued welfare benefits	$	167,290	$	196,455
Accrued payroll and bonus		4,126,279		5,719,423
Advance from customers		1,149,073		793,565
Accrued professional service fees		2,351,363		3,663,273
Accrued marketing expense		6,393,334		5,545,844
Other tax payables		2,148,117		-
Acquisition payable		2,880,600		-
Others		8,667		661,791
	$	19,224,723	$	16,580,351

The balance of acquisition payable as of December 31, 2013 represented the outstanding consideration in relation to the acquisition of Noumena (see Note 3). Such consideration was settled in 2014.