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CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS AND OTHER COMPREHENSIVE INCOME/(LOSS) (UNAUDITED) (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Revenues        
Rental income $ 1,369,481 $ 1,350,866 $ 2,827,996 $ 2,578,240
Management fee income 497,046 504,637 1,011,370 989,167
Total revenues 1,866,527 1,855,503 3,839,366 3,567,407
Cost of revenues        
Rental cost 1,126,380 1,292,882 2,126,181 2,310,113
Management fee cost 288,480 258,565 871,388 831,067
Total cost 1,414,860 1,551,447 2,997,570 3,141,180
Gross profit 451,667 304,056 841,796 426,227
Operation expenses        
Selling expenses 8,676 16,744 25,717 34,616
General and administrative expenses 436,649 321,283 904,886 988,307
Depreciation and amortization 21,829 42,691 44,053 53,239
Total operation expenses 467,154 380,718 974,657 1,076,162
Loss from operations (15,488) (76,662) (132,860) (649,935)
Other income (expense)        
Disposal of parking lots income    107,787    388,857
Other income, net 33,080 53,076 66,814 104,246
Interest and finance costs (682,085) (659,322) (1,224,733) (1,152,063)
Total other expense (649,004) (498,458) (1,157,919) (658,960)
Loss before provision for income taxes (664,492) (575,120) (1,290,779) (1,308,895)
Provision for income taxes            
Net Loss (664,492) (575,120) (1,290,779) (1,308,895)
Other comprehensive loss        
Foreign currency translation adjustment (285,397) (346,356) (302,036) 562,907
Comprehensive loss $ (949,889) $ (228,764) $ (1,592,815) $ (745,988)
loss per share        
Basic (in dollars per share) $ (0.08) $ (0.02) $ (0.14) $ (0.06)
Diluted (in dollars per share) $ (0.08) $ (0.02) $ (0.14) $ (0.06)
Weighted average number of shares outstanding        
Basic (in shares) 11,759,966 11,759,966 11,759,966 11,759,966
Diluted (in shares) 11,759,966 11,759,966 11,759,966 11,759,966