DISCONTINUED OPERATIONS

12 Months Ended

Dec. 31, 2011

DISCONTINUED OPERATIONS [Abstract]

DISCONTINUED OPERATIONS

13. DISCONTINUED OPERATIONS

Effective September 30, 2010, the Company terminated the operations of TC Digital and TC Websites due to their continued lack of profitability.  As a consequence of the termination of their operations, TC Digital and TC Websites ceased supporting the Chaotic trading card game and website, effective October 1, 2010.  The results of operations for the trading card and game distribution segment are reported as a discontinued operation and the accompanying consolidated financial statements have been reclassified for all prior periods to report the assets, liabilities and operating results of this business.

The following are the summarized results of discontinued operations for the trading card and game distribution segment for the years ended December 31, 2011, 2010 and 2009:

	Years Ended December 31,
		2011			2010			2009
Total net revenues	$	11		$	247		$	2,603
Total costs and expenses		62			6,736			23,182
Loss from discontinued operations	$	(51	)	$	(6,489	)	$	(20,579	)

The major classes of assets and liabilities of the discontinued operations on the balance sheet are as follows:

	December 31, 2011		December 31, 2010
ASSETS
Accounts receivable – net	$	-	$	-
Inventory		-		-
Prepaid and other current assets		18		39
Current assets of discontinued operations	$	18	$	39
Property and equipment - net	$	-	$	-
Other assets - net		-		-
Non-current assets of discontinued operations	$	-	$	-
LIABILITIES
Accounts payable and accrued expenses	$	1,583	$	1,753
Current liabilities of discontinued operations	$	1,583	$	1,753