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Related Party Transactions (Details) (USD $)
6 Months Ended
Jun. 30, 2013
Dec. 31, 2012
Due from related parties $ 21,026,927 $ 20,964,025
Due to related parties 9,260,021 9,889,037
BeijingLeimone Shengtong Wireless
   
Due from related parties 54,267 91,571
Related Party Transaction, Description of Transaction

Beijing Leimone Shengtong Wireless Technology Co., Ltd. ("Beijing Leimone") was founded by Gu, the largest shareholder of the Company. Beijing Leimone borrows money from the Company. The borrowings bore no interest and had a maturity of 12 months. The balances are neither collateralized nor personally guaranteed by Gu. The balance is expected to be repaid in full by December 31, 2013.

 

 

 
Related Party Transaction, Rate 0.00%  
Leimone (Tianjin) Industrial
   
Due from related parties 11,179,724 11,034,982
Related Party Transaction, Description of Transaction

Leimone (Tianjin) Industrial Co., Ltd. ("Tianjin Leimone") was controlled by Gu, the largest shareholder of the Company. Tianjin Leimone sells raw materials to the Company. As of June 30, 2013 and December 31, 2012, the amounts due from Tianjin Leimone of $11,179,724 and $11,034,982 represented advances for purchases arising in the normal course of business for transactions prior to December 31, 2012. The difference in balances between June 30, 2013 and December 31, 2012, represents the fluctuation of exchange rates between the functional and reporting currency. The outstanding balance is expected to begin to reduce materially when the Company has completed its sale of TCB Digital.

 
Shenzhen Leimone
   
Due from related parties 336,319 355,564
Related Party Transaction, Description of Transaction

Shenzhen Leimone Company, Ltd., formed by individuals including our Chairman, Mr. Gu, is set up with the intention of providing manufacturing services to our Company particularly for exports. $336,319 and $355,564 as of June 30, 2013 and December 31, 2012 was a loan to Shenzhen Leimone for setup costs. The balance is expected to be repaid in full by December 31, 2013.

 
Raja R Amar - CEO Portables
   
Due from related parties 410,577 429,877
Related Party Transaction, Description of Transaction

The amount of $410,577 and $429,877 due from Raja R Amar at June 30, 2013 and December 31, 2012, is related to loans made to Raja R Amar by Portables prior to its acquisition by Zoom. The loans are interest free and are unsecured.

 
Related Party Transaction, Rate 0.00%  
Spreadzoom
   
Due from related parties 9,046,040 9,046,038
Related Party Transaction, Description of Transaction

The balance due from SpreadZoom represents an advance to SpreadZoom for it to purchase components to manufacture handsets in the normal course of business. The advance bears no interest, and is uncollateralized. The difference in balances between June 30, 2013 and December 31, 2012, represents the fluctuation of exchange rates between the functional and reporting currency. Such advances occurred during the early stages of the business. The SpreadZoom has not yet been fully capitalized. Upon completion of the sale of TCB Digital, the Company expects to be repaid these advances.

 

 

 

 
Others
   
Due from related parties 0 5,993
Gu
   
Due to related parties 2,863,500 2,901,283
Related Party Transaction, Description of Transaction

Mr. Gu provides funds to the Company with no interest and are due on demand. As of June 30, 2013 and December 31, 2012, the balances of funds provided by Gu was $2,863,500 and $2,901,283 respectively.

 
Anthony Chan
   
Due to related parties 475,603 358,814
Related Party Transaction, Description of Transaction

Mr. Anthony Chan provides funds to the Company with no interest and are due on demand. As of June 30, 2013 and December 31, 2012, the balances of funds provided by Chan and certain accrued compensation for services rendered were $475,603 and $358,814, respectively.

 

 
Beijing Leimone Shengtong Cultural
   
Due to related parties 102,500 102,500
Wireless Holdings of Northeast
   
Due to related parties 0 117,600
Portables Unlimited International
   
Due to related parties 1,490,228 3,779,864
Related Party Transaction, Description of Transaction

In January 2011, Portables entered into a line of credit agreement with a Portables Unlimited International for a total of $5,000,000. Interest on the line is due and payable on demand at 5.6%. The unpaid balance as of June 30, 2013 and December 31, 2012 was $1,304,864 and $3,779,864 respectively.

 
Related Party Transaction, Rate 5.60%  
Portables Unlimited
   
Due to related parties 2,559,112 4,328,190
Related Party Transaction, Description of Transaction

Portables received advances from its non-controlling owner, Portables Unlimited, Inc., totaling $2,328,190 and $2,559,112 at June 30, 2013 and December 31, 2012. The Company owes a promissory note of $2 million to Portables Unlimited, Inc. that is secured by its ownership interest in Portables. The note carries an annual interest rate of 12%. The Company is currently in default of the note and is making its best efforts to cure the default. If in the event the default is not cured, the Company’s ownership interest in Portables could transfer to Portables Unlimited, Inc.

 
Related Party Transaction, Rate 12.00%  
AUM Realty
   
Due to related parties $ 0 $ 69,864
Related Party Transaction, Description of Transaction

AUM Realty, Inc. is controlled by certain member of Portables. The outstanding balance represents outstanding rent owed to AUM. The amounts are due upon demand. Refer to "Note 21 - Commitments" for more details.