12. Unrestricted Net Assets (Tables)

12 Months Ended

Dec. 31, 2013

Unrestricted Net Assets

Condensed financial information of the United States operations - Balance Sheet

	December 31,			December 31,
Balance Sheets	2013			2012
Assets
Cash and cash equivalents	$	849,683		$	1,115,982
Accounts receivable, net		5,461,138			4,932,202
Other current assets		(1,638	)		(1,240	)
Total current assets		6,309,183			6,046,944
Investment in EZ Link Holdings, Ltd.		857,143			857,143
Deposits		12,432			12,433
Deferred tax assets		264,315			183,679
Total assets	$	7,443,073		$	7,100,199
Liabilities
Accounts payable	$	5,056,061		$	4,822,195
Accrued liabilities		91,528			63,190
Notes payable to related party		80,000			80,000
Total current liabilities		5,227,589			4,965,385
Total liabilities		5,227,589			4,965,385
Stockholders' equity
Common stock		4,961			4,961
Preferred stock		138			138
Additional paid-in capital		2,202,877			2,202,877
Retained earnings		7,508			(73,162	)
Total stockholders' equity		2,215,484			2,134,814
Total liabilities and stockholders' equity	$	7,443,073		$	7,100,199

Condensed financial information of the United States operations - Statement of Operations

	Year Ending			Year Ending
	December 31,			December 31,
Statement of Operations	2013			2012
Net sales	$	34,005,056		$	31,062,065
Cost of goods sold		(32,744,166	)		(29,934,810	)
Operating expenses		(1,267,012	)		(1,102,978	)
(Loss)/Income from operations		(6,122	)		24,277
Other income and (expense)
Interest income		1,306			94
Other income		1,761			4,875
Realized gain on investment		–			–
Income tax benefit (expense)		83,725			(14,829	)
Total other income		86,792			(9,860	)
Net Income	$	80,670		$	14,417

Condensed financial information of the United States operations - Statement of Cashflows

	Year Ending			Year Ending
	December 31,			December  31,
Statements of Cash Flows	2013			2012
Net cash provided by operating activities:	$	(266,299	)	$	312,910
Cash flow from investing activities
Proceeds from sale of investment		–			–
Net cash provided by investing activities		–			–
Cash flow from financing activities:
Proceeds from note payable - related party		–			–
Net cash provided by financing activities		–			–
Net increase in cash		(266,299	)		312,910
Cash, beginning of period		1,115,982			803,072
Cash, end of period	$	849,683		$	1,115,982