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Long Term Investments (Detail Textuals)
1 Months Ended 3 Months Ended
Sep. 14, 2016
USD ($)
Sep. 14, 2016
CNY (¥)
Jul. 03, 2016
CNY (¥)
Oct. 31, 2016
USD ($)
Oct. 31, 2016
CNY (¥)
Apr. 30, 2016
USD ($)
$ / shares
shares
Mar. 28, 2016
USD ($)
Mar. 31, 2017
USD ($)
Mar. 31, 2016
USD ($)
Dec. 31, 2016
USD ($)
Apr. 15, 2016
USD ($)
Apr. 13, 2016
USD ($)
Apr. 13, 2016
CNY (¥)
Debt Instrument [Line Items]                          
Acquisition of game IP rights in cash paid               $ 6,174,235   $ 6,156,985      
Total purchase price             $ 10,000,000 $ 9,277,574        
Long term investments               6,635,483   6,654,664 [1]      
Increase in investment                        
Impairment of equity method investments               38,448          
Shandong Media                          
Debt Instrument [Line Items]                          
Increase in investment [2]                        
Impairment of equity method investments [2]                        
Hua Cheng                          
Debt Instrument [Line Items]                          
Increase in investment [3]                        
Impairment of equity method investments [3]               38,448          
Wecast Internet                          
Debt Instrument [Line Items]                          
Percentage of equity ownership       50.00% 50.00%                
Increase in investment       $ 149,750 ¥ 1,000,000     [4]          
Impairment of equity method investments [4]                        
Topsgame                          
Debt Instrument [Line Items]                          
Acquisition of game IP rights in cash paid [5]               3,174,235   3,156,985      
Increase in investment | ¥     ¥ 30,000,000                    
Topsgame | SSF                          
Debt Instrument [Line Items]                          
Percentage of equity ownership 13.00% 13.00%                      
Increase in investment $ 584,000 ¥ 3,900,000                      
Frequency                          
Debt Instrument [Line Items]                          
Acquisition of game IP rights in cash paid [6]               $ 3,000,000   $ 3,000,000      
Sinotop Beijing | Shandong Media                          
Debt Instrument [Line Items]                          
Percentage of equity ownership               30.00%          
Sinotop Beijing | Hua Cheng                          
Debt Instrument [Line Items]                          
Percentage of equity ownership               39.00%   39.00%      
Game IP Rights | SSS | SSF                          
Debt Instrument [Line Items]                          
Acquisition of game IP rights in cash                       $ 2,700,000 ¥ 18,000,000
Game IP Rights | Topsgame                          
Debt Instrument [Line Items]                          
Fair value of investment                     $ 2,700,000    
Capital Increase Agreement | Topsgame | SSF                          
Debt Instrument [Line Items]                          
Percentage of equity ownership                     13.00%    
Series A Preferred Stock Purchase Agreement | Frequency                          
Debt Instrument [Line Items]                          
Purchase of shares of Series A Preferred Stock | shares           8,566,271              
Percentage of equity ownership           9.00%              
Total purchase price           $ 3,000,000              
Preferred stock non-cumulative dividends rate per share | $ / shares           $ 0.02548              
Preferred stock convertible into common stock basis           1:1              
Preferred stock liquidation preference per share | $ / shares           $ 0.42467              
Cost of the investment in Frequency           $ 3,000,000              
[1] The above consolidated balance sheets present the Wecast Services Limited and Wide Angle Group Limited acquired from BT Capital Global Limited ("BT") on January 30 and January 31, 2017, respectively as if they had been owned by the Company since November 10, 2016 in accordance with ASC Subtopic 805-50 (See Note 4 "Acquisition")
[2] Investment in Shandong Media As of the years ended March 31, 2017 and December 31, 2016, the Company held 30% equity ownership in Shandong Media, and accounts for the investment by the equity method. The investment was fully impaired as of March 31, 2017 and December 31, 2016.
[3] Investment in Hua Cheng As of the years ended March 31, 2017 and December 31, 2016, the Company held 39% equity ownership in Hua Cheng, and accounted for the investment by the equity method.
[4] Investment in Wecast Internet In October 2016, the Company's subsidiary, YOU On Demand (Asia) Ltd., invested RMB 1,000,000 (approximately $149,750) in Wecast Internet Limited ("Wecast Internet") and held its 50% equity ownership.
[5] Investment in Topsgame On April 13, 2016, SSF entered into a Game Right Assignment Agreement with SSS for the acquisition of certain game IP rights ("Game IP Rights") for approximately $2.7 million (RMB18 million) in cash. On April 15, 2016, SSF entered into a Capital Increase Agreement with Nanjing Tops Game Co., Ltd. ("Topsgame") and its shareholders whereby SSF transferred the Game IP Rights acquired from SSS to Topsgame in exchange for 13% of Topsgame's equity ownership. Topsgame is a PRC company that specializes in the independent development and operation of online, stand-alone and other games as well as the distribution of domestic and overseas games. The Company's 13% ownership interest does not provide the Company with the right to nor does the Company have representation on the board of directors of Topsgame. The Company has recognized the cost of the investment in Topsgame, which is a private company with no readily determinable fair value, based on the acquisition cost of Game IP Rights of approximately $2.7 million and accounts for the investment by the cost method. On September 14, 2016, SSF increased its investment in Topsgame by RMB 3,900,000 (approximately $584,000) and maintained its 13% equity ownership of Topsgame. The investment continued to be accounted for using the cost method.
[6] Investment in Frequency Investment in Frequency In April 2016, the Company and Frequency Networks Inc. ("Frequency") entered into a Series A Preferred Stock Purchase Agreement (the "SPA") for the purchase of 8,566,271 shares of Series A Preferred Stock, Frequency (the "Frequency Preferred Stock") for a total purchase price of $3 million. The 8,566,271 Series A Preferred Stock represent 9% ownership and voting interest on an as converted basis and does not provide the Company with the right to nor does the Company have representation on the board of directors of Frequency. The Frequency Preferred Stock is entitled to non-cumulative dividends at the rate of $0.02548 per share per annum, declared at the discretion of Frequency's board of directors. The Frequency Preferred Stock is also convertible into shares of Frequency common stock at the Company's election any time after issuance on a 1:1 basis, subject to certain adjustment. Each share of Frequency Preferred Stock also has a liquidation preference of $0.42467 per share, plus any declared but unpaid dividends. The Company has recognized the cost of the investment in Frequency, which is a private company with no readily determinable fair value, at its cost of $3 million and accounts for the investment by the cost method. There were no identified events or changes in circumstances that may have had a significant adverse effect on the fair value of our cost method investments, accordingly the fair value of our cost method investments are not estimated.