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Equity Method Investments (Details) (USD $)
12 Months Ended 6 Months Ended 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2013
SpreadZoom
Dec. 31, 2012
SpreadZoom
Jul. 15, 2013
Portables
Dec. 31, 2012
Portables
Equity Method Investment, Description of Principal Activities

On May 10, 2012, the Company along with Spreadtrum Communications (Tianjin) Co., Ltd, Tianjin Baoshui District Investment Co, Ltd, and Han & Qin International (BVI) Limited invested in the joint venture SpreadZoom Technologies, Inc ("SpreadZoom"). SpreadZoom is domiciled in Tianjin, China with a registered capital of $47,352,700 (RMB 300,000,000). As of September 30, 2012, $17,520,500 (RMB 111,000,000) in capital had been contributed to SpreadZoom; the Company contributed $12,342,358 (RMB 78,000,000). As of September 30, 2012, the Company has used the equity method to account for its investment in SpreadZoom.

 

 

 

On May 10, 2012, the Company along with Spreadtrum Communications (Tianjin) Co., Ltd, Tianjin Baoshui District Investment Co, Ltd, and Han & Qin International (BVI) Limited invested in the joint venture SpreadZoom Technologies, Inc ("SpreadZoom"). SpreadZoom is domiciled in Tianjin, China with a registered capital of $47,352,700 (RMB 300,000,000). As of June 30, 2012, $17,520,500 (RMB 111,000,000) in capital had been contributed to SpreadZoom; the Company contributed $12,342,542 (RMB 78,000,000). The Company had committed to invest an additional $10,117,700 (RMB 64,100,000) in SpreadZoom. Management and control of the business have not been fully determined. The Company has used the equity method to account for its investment in SpreadZoom and has recorded a loss from investment of $ 1,031,979 and $ 429,586 for the years ended December 31, 2013 and 2012, respectively.

 

 

     
Changes in Equity Method Investments            
Balance at beginning of period (restated) $ 23,758,974 $ 9,160,273 $ 11,912,956    $ 11,846,018 $ 9,160,273
Initial investment 0 12,342,542   12,342,542     
Equity method investment income (loss) (926,373) (3,840) (1,031,979) (429,586) 105,606 425,746
Increase in investment through co-borrowing on bank line of credit   3,000,000        3,000,000
Increase in investment through co-borrowing on bank term note 2,500,000       2,500,000 0
Reduction in equity interest from 55.0% to 50.1%   (735,000)      0 (735,000)
Reduction in investment through repayment of bank line of credit (500,000) (5,001)      (500,000) (5,001)
Reduction from repayment on bank term note (489,310)       (489,310)  
Gain from default of promisssry note leading for fofeiture of ownership (2,000,000)       (2,000,000)  
Loss on disposal (11,462,314)       (11,462,314)  
Balance at end period (restated) 10,880,977 23,758,974 10,880,977 11,912,956 0 11,846,018
Financial Position            
Current assets     17,811,982 42,772,581 6,283,761 7,145,668
Non-current assets     6,558,367 1,775,661 2,515,896 2,542,977
Total assets     24,370,349 44,548,242 8,799,657 9,688,645
Current liabilities     9,353,001 27,839,474 14,570,582 16,994,165
Non-current liabilities           1,708,928   
Total liabilities     9,353,001 27,839,474 16,279,510 16,994,165
Net ssset value     15,017,348 16,708,768 (7,479,853) (7,305,520)
Results of Operations            
Net revenues     66,920,617 46,025,192 14,130,111 49,773,552
Cost of goods sold     65,000,788 45,859,806 10,341,986 40,813,304
Gross profit     1,919,829 165,386 3,788,125 8,960,248
Operating expenses     4,152,403 1,327,593 3,309,640 7,215,081
Operating income (loss)     (2,232,574) (1,162,207) 478,485 1,745,167
Other income (expenses), net     54,025 255,721 (267,695) (895,374)
Income (loss) before taxes     (2,178,549) (906,486) 210,790 849,793
less: Provision for income taxes                
Net income (loss)     (2,178,549) (906,486) 210,790 849,793
Investment loss attributable to Zoom Technologies, Inc. $ (926,373) $ (3,840) $ (1,031,979) $ (429,586) $ 105,606 $ 425,746