Correction of Error (Tables)

12 Months Ended

Dec. 31, 2013

Correction Of Error Tables

Restatement to Prior Year Income

The following tables show the previously report amounts, the required adjustment and the currently restated amounts related to the Company financial position and results of operations at December 31, 2012 (as restated), and for the year then ended.

		December 31, 2012
		As Previously				As Currently
		Reported		Adjustment		Reported
Financial Position						(Restated)
Current assets	$	193,879,917	$	(5,149,774)	$	188,730,143
Non-current assets		41,837,026		(17,728,452)		24,108,574
Total assets		235,716,943		(22,878,226)		212,838,717
Current liabilities		170,751,984		(13,999,166)		156,752,818
Non-current liabilities		317,500		-		317,500
Total liabilities		171,069,484		(13,999,166)		157,070,318
Stockholders' equity		52,056,677		710,873		52,767,550
Non-controlling interest		12,590,782		(9,589,933)		3,000,849
Net equity		64,647,459		(8,879,060)		55,768,399

		For the Year Ended December 31, 2012
		As Previously				As Currently
		Reported		Adjustment		Reported
						(Restated)
Net revenues	$	49,773,552	$	(49,773,552)	$	-
Cost of sales		40,813,304		(40,813,304)		-
Gross profit		8,960,248		(8,960,248)		-
Total operating expenses		17,505,542		(7,215,081)		10,290,461
Loss from operations		(8,545,294)		(1,745,167)		(10,290,461)
Other (expense) income, net		(603,723)		1,321,120		717,397
Loss before income taxes for continuing operations		(9,149,017)		(424,047)		(9,573,064)
Income taxes for continuing operations		190,845		-		190,845
Loss from continuing operations		(9,339,862)		(424,047)		(9,763,909)
Discontinued Operations:
Loss from discontinued operations, net of tax		(11,178,671)		-		(11,178,671)
Loss on disposal, net tax		(11,860,025)		-		(11,860,025)
Loss from discontinued operations		(23,038,696)		-		(23,038,696)
Net loss	$	(32,378,558)	$	(424,047)	$	(32,802,605)
less: Income (loss) attributable to noncontrolling interest		73,953		(424,047)		(350,094)
Net loss attributable to Zoom Technologies, Inc.	$	(32,452,511)	$	-	$	(32,452,511)
Basic and diluted loss per common share
Basic	$	(11.96)	$	-	$	(11.96)
Diluted	$	(11.96)	$	-	$	(11.96)