XML 34 R77.htm IDEA: XBRL DOCUMENT v2.4.0.8
Correction of Error for Accounting of Portables Unlimited, LLC (Details) (USD $)
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Current assets $ 157,051,937 $ 188,730,143
Total assets 168,282,514 212,838,717
Current liabilities 155,198,039 156,752,818
Total liabilities 156,550,142 157,070,318
Non-controlling interest (548,969) 3,000,849
Stockholders' equity 12,281,341 52,767,550
Net equity 11,732,372 55,768,399
Net revenues 0 0
Cost of sales 0 0
Gross profit 0 0
Loss from operations (2,882,051) (10,290,461)
Other (expense) income, net (1,078,605) 717,397
Loss before income taxes from continuing operations (3,960,656) (9,573,064)
Income taxes for continuing operations 191,414 190,845
Loss from continuing operations (4,152,070) (9,763,909)
Loss from discontinued operations, net of tax (23,149,034) (11,178,671)
Loss on disposal, net of tax (16,354,593) (11,860,025)
Loss from discontinued operations (39,503,627) (23,038,696)
Net loss (43,655,697) (32,802,605)
less: Loss attributable to noncontrolling interest (4,794,010) (350,094)
Net loss attributable to Zoom Technologies Inc. (38,861,687) (32,452,511)
Basic $ (13.05) $ (11.96)
Diluted $ (13.05) $ (11.96)
Previouly Reported
   
Current assets   193,879,917
Non-current assets   41,837,026
Total assets   235,716,943
Current liabilities   170,751,984
Non-current liabilities   317,500
Total liabilities   171,069,484
Non-controlling interest   12,590,782
Stockholders' equity   52,056,677
Net equity   64,647,459
Net revenues   49,773,552
Cost of sales   40,813,304
Gross profit   8,960,248
Total operating expenses   17,505,542
Loss from operations   (8,545,294)
Other (expense) income, net   (603,723)
Loss before income taxes from continuing operations   (9,149,017)
Income taxes for continuing operations   190,845
Loss from continuing operations   (9,339,862)
Loss from discontinued operations, net of tax   (11,178,671)
Loss on disposal, net of tax   11,860,025
Loss from discontinued operations   (23,038,696)
Net loss   (32,378,558)
less: Loss attributable to noncontrolling interest   73,953
Net loss attributable to Zoom Technologies Inc.   (32,452,511)
Basic   $ (11.96)
Diluted   $ (11.96)
Adjustment
   
Current assets   (5,149,774)
Non-current assets   (17,728,452)
Total assets   (22,878,226)
Current liabilities   (13,999,166)
Non-current liabilities     
Total liabilities   (13,999,166)
Non-controlling interest   (9,589,933)
Stockholders' equity   710,873
Net equity   (8,879,060)
Net revenues   (49,773,552)
Cost of sales   (40,813,304)
Gross profit   (8,960,248)
Total operating expenses   (7,215,081)
Loss from operations   (1,745,167)
Other (expense) income, net   1,321,120
Loss before income taxes from continuing operations   (424,047)
Income taxes for continuing operations     
Loss from continuing operations   (424,047)
Loss from discontinued operations, net of tax     
Loss on disposal, net of tax     
Loss from discontinued operations     
Net loss   (424,047)
less: Loss attributable to noncontrolling interest   (424,047)
Net loss attributable to Zoom Technologies Inc.     
Basic     
Diluted     
As Currently Reported
   
Current assets   188,730,143
Non-current assets   24,108,574
Total assets   212,838,717
Current liabilities   156,752,818
Non-current liabilities   317,500
Total liabilities   157,070,318
Non-controlling interest   3,000,849
Stockholders' equity   52,767,550
Net equity   55,768,399
Net revenues     
Cost of sales     
Gross profit     
Total operating expenses   10,290,461
Loss from operations   (10,290,461)
Other (expense) income, net   717,397
Loss before income taxes from continuing operations   (9,573,064)
Income taxes for continuing operations   190,845
Loss from continuing operations   (9,763,909)
Loss from discontinued operations, net of tax   (11,178,671)
Loss on disposal, net of tax   11,860,025
Loss from discontinued operations   (23,038,696)
Net loss   (32,802,605)
less: Loss attributable to noncontrolling interest   (350,094)
Net loss attributable to Zoom Technologies Inc.   $ (32,452,511)
Basic   $ (11.96)
Diluted   $ (11.96)