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CONVERTIBLE BOND
9 Months Ended
Sep. 30, 2014
CONVERTIBLE BOND [Abstract]  
CONVERTIBLE BOND
NOTE 7- CONVERTIBLE BOND
 
On June 12, 2013, the Company signed a convertible bond agreement, pursuant to which a Convertible Bond would be put in place to fund the formation of JAZ (Jonway and ZAP) from the ZAP Hangzhou Joint Venture that was formed in 2010 in China, Hangzhou. The Convertible Bond was to be funded at US$2 million with the option to convert to ZAP shares. The Company received $1.7 million of the $2 million. As of October 27th, 2014, US$500,000 of the convertible bond has been repaid to one of the bond holders (Korea Yung), and US$600,000 has been converted to ZAP shares by the other bond holders, leaving an outstanding principal amount of $600,000 on the bond yet to be repaid in cash or in ZAP shares.
 
Effective September 29, 2014, the Company and Korea Yung amended their original agreement dated August 12, 2014. Under the amendment, the Company made a payment totaling $528,500 to Yung as of October 27th, 2014. The payment represented a principal reduction of $500,000 and $28,500 of interest on the Company's outstanding convertible bond held by Yung. Per the agreement, the Company will release 7,095,344 shares from escrow and deliver the shares to Yung, or repay the remaining $600,000 principal in cash in part or in full, on or before December 31, 2014 or within five (5) business days thereafter.