Website Development Cost, Net

12 Months Ended

Dec. 31, 2013

Website Development Cost, Net [Abstract]

WEBSITE DEVELOPMENT COST, NET

6.         WEBSITE DEVELOPMENT COST, NET

Starting from 2012, the Company shifted its focus to develop the e-commerce business model. Therefore, investments are made to develop the website, www.ju51.com, as the Company’s e-commerce platform. Costs incurred to develop our website are capitalized and amortized over the estimated useful life of the project. The Company evaluates the useful lives of these assets on an annual basis and determines impairment whenever events or changes in circumstances occur that could impact the recoverability of these assets. Nevertheless, the Company has not been able to generate revenue from the e-commerce platform since 2012 and as such, has been monitoring the situation to determine the recoverability of the website development costs. While the Company forecasts to generate revenue from the e-commerce platform in the foreseeable future, there is however no concrete evidence to show the future benefit of the assets because the ability to generate revenue and cash flow is not certain. This uncertainty was not deemed to impact the recoverability of the assets until June 30, 2013. Therefore, as of December 31, 2013, the Company fully impaired the unamortized website development cost of $505,624 as the website did not meet the asset recoverability test since June 30, 2013. There was no impairment loss recognized on unamortized website development cost during the year ended December 31, 2012.