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Merger and Acquisitions (Narrative) (Details) (USD $)
6 Months Ended 6 Months Ended 6 Months Ended
Jun. 30, 2013
Silver Tech
May 31, 2010
Silver Tech
Jun. 30, 2013
CDE
Jan. 04, 2011
CDE
Jun. 30, 2013
Portables
Oct. 11, 2011
Portables
Business Acquisition, Effective Date of Acquisition May 31, 2010   Jan. 04, 2011   Oct. 11, 2011  
Business Acquisition, Name of Acquired Entity

Silver Tech Enterprises, Ltd.

 

Celestial Digital Entertainment, Ltd., ("CDE")

 

Portables Unlimited LLC

 
Business Acquisition, Description of Acquired Entity

The Company acquired 100% equity in Silver Tech on May 31, 2010. As of May 31, 2010, the net assets of Silver Tech were $2,564,160. The purchase consideration was $10,960,000 which resulted in goodwill of $8,395,840. As of December 31, 2012, the Company has taken action to dispose of Silver Tech's operating subsidiaries Ever Elite and Nollec; accordingly, all goodwill related to Silver Tech has been written off.

 

 

 

The Company acquired 100% ownership of CDE on January 4, 2011. As of January 4, 2011, the net liabilities of CDE were $43,409. The purchase consideration was $1,818,000 which resulted in goodwill of $1,861,409.

 

 

The Company acquired 55% ownership of Portables on October 11, 2011. As of October 11, 2011, Portables' liabilities exceeded its assets by $9,290,241. The purchase consideration was $9,851,486 which resulted in goodwill of $27,005,953. The Company acquired Portables for two reasons; (a) to diversify its revenue sources, and (b) to gain access to the most mature mobile handset market in the world. The Company's ownership in Portables has been reduced to 50.1% as of December 31, 2012. The Company is currently in default of a loan with Portables Unlimited, Inc. and its ownership of Portables could be transferred to Portables Unlimited, Inc. if the default is not cured.

 

 

 
Business Combination, Reason for Business Combination

As of December 31, 2012, the Company has taken action to dispose of Silver Tech's operating subsidiaries Ever Elite and Nollec; accordingly, all goodwill related to Silver Tech has been written off.

 

 

As of December 31, 2012, as part of the Company's disposal of Profit Harvest the Company has indirectly disposed of CDE, accordingly, all of the goodwill related to CDE has been written off.

 

The Company acquired Portables for two reasons; (a) to diversify its revenue sources, and (b) to gain access to the most mature mobile handset market in the world.

 
Business Acquisition, Cost of Acquired Entity   $ 10,960,000   $ 1,818,000   $ 9,851,486
Business Acquisition, Percentage of Voting Interests Acquired   100.00%   100.00%   50.10%