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ACQUISITIONS (Tables)
6 Months Ended
Jun. 30, 2012
ACQUISITIONS  
Schedule of allocation of acquisition cost to assets acquired and liabilities assumed, based on their estimated fair values at time of acquisition

 

 

Accounts receivable

 

$

1,914,723

 

Property, plant and equipment

 

2,451,000

 

Accounts payable assumed

 

(1,772,334

)

Lease payoff

 

(259,385

)

Net assets acquired

 

2,334,004

 

Purchase price

 

1,542,389

 

Bargain purchase gain

 

$

791,615