Available-for-sale Investments

6 Months Ended

Jun. 30, 2012

Available-for-sale Investments

Available-for-sale Investments

Note 9. Available-for-sale Investments 

			Fair Value
	Cost	Unrealized Gain/(Loss)	June 30 2012	December 31 2011
	$	$	$	$
977,966 common shares of Samyang Optics Co., Ltd.	1,000,000	(291,511)	708,489	990,533

On February 11, 2010, the Company entered into an Investment Agreement with Samyang Optics Co., Ltd. (“Samyang”), a South Korean Corporation listed on the Korea Exchange, whereby Samyang loaned the Company $2,000,000 in the form of a convertible promissory note (Note 14). In turn, the Company acquired 977,966 common shares of Samyang valued at $1,000,000. The investment is classified as Available for Sale and is carried at fair value, with unrealized gains and losses recorded as Other Comprehensive Income in available for sale valuation reserve and other than temporary losses recorded in net income.