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Other Comprehensive Loss
12 Months Ended
Dec. 31, 2012
Stockholders' Equity Note [Abstract]  
Comprehensive Income (Loss) Note [Text Block]

5. Other Comprehensive Loss

 

The following table sets forth the tax effects of components of other comprehensive loss and the accumulated balance of other comprehensive loss and each component.

 

Tax Effects Allocated to Each Component of Other Comprehensive Income (Loss)

for the years ended December 31, 2012 and 2011

 

          Tax        
    Before-Tax     (Expense)     Net-of-Tax  
    Amount     or Benefit     Amount  
2012                  
Foreign currency translation adjustments   $ 114,097     $ -     $ 114,097  
Other comprehensive income   $ 114,097     $ -     $ 114,097  
                         
              Tax          
      Before-Tax       (Expense)       Net-of-Tax  
      Amount       or Benefit       Amount  
2011                        
Foreign currency translation adjustments   $ (692,881 )   $ -     $ (692,881 )
Other comprehensive loss   $ (692,881 )   $ -     $ (692,881 )
                         
                         
Accumulated Other Comprehensive Loss Balances as of December 31, 2012        
                      Accumulated  
      Foreign       Unrealized       Other  
      Currency       Gain (Loss) on       Comprehensive  
      Items       Derivatives       Loss  
Beginning balance   $ (2,285,679 )   $ -     $ (2,285,679 )
Current period change     114,097       -       114,097  
Ending balance   $ (2,171,582 )   $ -     $ (2,171,582 )
                         
Accumulated Other Comprehensive Loss Balances as of December 31, 2011        
                      Accumulated  
      Foreign       Unrealized       Other  
      Currency       Gain (Loss) on       Comprehensive  
      Items       Derivatives       Loss  
Beginning balance   $ (1,592,798 )   $ -     $ (1,592,798 )
Current period change     (692,881 )     -       (692,881 )
Ending balance   $ (2,285,679 )   $ -     $ (2,285,679 )

 

For the years ended December 31, 2012 and 2011, no tax benefit has been recorded on the foreign currency translation adjustments; as such amounts would result in a deferred tax asset and are not expected to reverse in the foreseeable future.