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SIGNIFICANT ACCOUNTING POLICIES (Tables)
12 Months Ended
Dec. 31, 2014
SIGNIFICANT ACCOUNTING POLICIES [Abstract]  
Schedule of Foreign Currency Exchange Balance
December 31, 2014 December 31, 2013
       
   Balance sheet items, except for share capital, additional  $1=RMB 6.1460 $1=RMB 6.1122
paid in capital and retained earnings, as of year end




  Amounts included in the statements of operations  $1=RMB 6.1457  $1=RMB6.1171
and cash flows for the year
Summary of Assets and Liabilities Measured at Fair Value

 

            December 31, 2014  

 

                        Fair Value  

Assets

        Level 1   Level 2    Level 3     Measurements  

CNG distribution right

  (1 ) - - $ 1,000 $ 1,000

Trade name

  (2 - -
1,600
1,600

 


 

          December 31, 2013  

 

 

                      Fair Value  

Assets

 

      Level 1   Level 2   Level 3     Measurements  

Trade name

 

(1 - - $ 2,239 $ 2,239

 

Impairment loss

 

 

     


      2014 2013


     

Impairment loss on Distribution rights

 

 

(1 ) $ 4,969 $ 0

Impairment loss on Intangible assets

 

 

(2 $ 627 $ 0

 

(1)
The CNG distribution right was acquired in the fiscal year of 2014 at $5.96 million by issuing 61 million shares. In March 2014, Jonway Group agreed to pay all of the outstanding mold expenses of the Minivan that is currently still outstanding, and in return ZAP will share half of the asset value and share the IPR (50%) of the Minivan with Jonway Auto. The Minivan was purchased by ZAP from a prior agreement between ZAP and Jonway Group which was signed on January 18, 2012.  In return for ZAP receiving worldwide exclusivity for the sales, distribution, and product IPR rights for all current and future models of the compressed natural gas (“CNG”) versions of Jonway Auto's Products, including, but not limited to, SUV, minivan, and all other models, the Company's Board of Directors authorized on March 28, 2014 to issue 61,000,000 shares of common stock to the companies owned by the Co-CEO and shareholder Alex Wang. The 61,000,000 shares of common stock have been issued in April 2014.The Company recognized impairment charges of $4.96 million for the years ended December 31, 2014.


(2)
The Company recognized impairment loss for Trade name in the year ended December 31, 2014.
Schedule of Estimated Useful Lives of Property and Equipment

Machinery and equipment

5-10 years (Jonway 10 years)

Computer equipment and software

3-5 years

Office furniture and equipment

5 years

Vehicles

5 years

Leasehold improvements

10 years or life of lease,

 

whichever is shorter

Building and improvements

20-30 years (Jonway 20 years)  

Summary of Changes in the Product Warranty Accrual

Jonway

2014 2013    

Balance as of January 1

  $ 631   $ 964  

Provision for warranties

  483   732   

Charges against warranties

  (633 )   (858  

Balance December 31

  481   838    

      Less: long term portion



(188 )

(207  

Current portion

  $ 293   $ 631