Discontinued Operations

6 Months Ended

Jun. 30, 2013

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

Discontinued Operations

Certain of our subsidiaries operated in the European Union ("EU"). Though operations have ceased, statutory requirements require a continued presence in the EU for varying terms until April 2015. Profits and losses generated from the remaining assets and liabilities are accounted for as discontinued operations.

For the three and six months ended June 30, 2013 we recognized net income from discontinued operations of $283,015 and $408,108, respectively. For the three and six months ended June 30, 2012 we recognized net loss from discontinued operations of $155,236 and $156,943, respectively.

Net income from discontinued operations for 2013 is due to the favorable resolution of a tax audit and the reduction of certain accrued liabilities originating in 2009 and earlier years, which we determined are no longer likely to be paid. Net loss from discontinued operations for 2012 is related to appeals on a tax issue.