Income Taxes

3 Months Ended

Mar. 31, 2012

Income Taxes [Abstract]

Income Taxes

NOTE 15-INCOME TAXES

The Company is subject to United States of America ("US") income tax and People's Republic of China ("PRC") profit tax.

US

     The Company is incorporated in the United States of America and is subject to United States federal taxation. No provisions for income taxes have been made as the Company has no taxable income for the year. The Company has net operating loss carryforwards for federal tax purposes. No tax benefit has been realized since a full valuation allowance has been established to offset the deferred tax asset resulting from the net operating losses

PRC

     Effective on January 1, 2008, the PRC Enterprise Income Tax Law, EIT Law, and Implementing Rules impose an unified enterprise income tax rate of 25% on all domestic-invested enterprises and foreign investment enterprises in PRC, unless they qualify under certain limited exceptions. As such, the Company's subsidiary in PRC is subject to an enterprise income tax rate of 25%.

No provisions for income taxes have been made as the Company has no taxable income for the periods. A deferred tax benefit of $38 was recognized due to the change in the deferred tax assets.

Loss before income taxes consisted of:

		For the Three Months Ended March 31,
		2012			2011
					Restated
US	$	(2,321	)	$	(6,021	)
PRC		(2,229	)		(1,185	)
	$	(4,550	)	$	(7,206	)

Provision (Benefit) for income taxes consisted of:

		For the Three Months Ended March 31,
		2012				2011
Current provision:						Restated
US	$		-		$	1
PRC			-			-
Total current provision			-			1
Deferred provision (benefit):
US			-			-
PRC			(38	)		(22	)
Total Deferred provision (benefit)			(38	)		(22	)
Total provision / (benefit) for income taxes	$		(38	)	$	(21	)