TAXATION (Tables)

9 Months Ended

Sep. 30, 2012

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

		Nine months ended						Three months ended
		September 30,						September 30,
		2012			2011			2012			2011
Income (loss) before income tax	$	(18,315,946	)	$	333,320		$	(3,595,274	)	$	(1,113,306	)
Tax at statutory rate		(4,507,815	)		171,299			(879,166	)		(261,397	)
Gain on the business combination		-			(1,779,125	)		-			-
Change in valuation allowance		2,788,617			170,742			929,925			32,841
Non-deductible expenses		-			89,960			-			48,891
Income tax expense (benefit)	$	(1,719,198	)	$	(1,347,124	)	$	50,759		$	(179,665	)