BUSINESS AND OPERATIONS OF THE COMPANY (Tables)

12 Months Ended

Dec. 31, 2012

BUSINESS AND OPERATIONS OF THE COMPANY [Abstract]

Fair Value of Acquisition Consideration and Allocation of Fair Value of Assets and Liabilities

The acquisition was accounted for by the acquisition method of accounting and the fair value of the acquisition consideration was allocated to the fair value assets and liabilities as of the date of the acquisition as follows:

Fair value consideration given			Fair value assets acquired
Cash	$	250,000	Transportation equipment	$	1,651,516
Equity instruments (232,170 shares)		775,448	Real property		71,000
Note payable (Note 10)		300,000	Contractual based intangible asset		855,601
			Fair value liabilities assumed
			Deferred taxes	$	(561,855	)
			Equipment debt		(584,186	)
			Income tax payable		(106,628	)
Total	$	1,325,448	Total	$	1,325,448