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Sinotop Contingent Consideration (Tables)
12 Months Ended
Dec. 31, 2012
Sinotop Contingent Consideration [Abstract]  
Summary of Estimated Fair Value of Contingent Consideration obligation for the acquisition of Sinotop Hong Kong
The following is a summary of the earned purchase price consideration and the estimated fair value of the contingent consideration obligation for the acquisition of Sinotop Hong Kong at December 31, 2012 and 2011, respectively.
 
 
January 1,
 
 
December 31,
 
2012
Earned
Change in
2012
Class of consideration
Fair Value
Fair Value
Fair Value
Fair Value
Common shares
 $       3,147,109
 $     (1,226,369)
 $     (1,209,446)
 $          711,294
Stock options
             211,980
             (82,021)
           (103,997)
               25,962
Total earned and contingent consideration
 $       3,359,089
 $     (1,308,390)
 $     (1,313,443)
 $          737,256
 
 
 
 
 
 
 
 
 
 
 
January 1,
 
 
December 31,
 
2011
Earned
Change in
2011
Class of consideration
Fair Value
Fair Value
Fair Value
Fair Value
Common shares
 $       3,175,902
 $                       -
 $          (28,793)
 $       3,147,109
Stock options
             186,203
                          -
               25,777
             211,980
Total earned and contingent consideration
 $       3,362,105
 $                       -
 $            (3,016)
 $       3,359,089
 
 
 
 
 
Estimated Fair Value of Current and the Noncurrent Portion of Contingent Consideration Liability
The following table represents the estimated fair value of the current and the noncurrent portion of the consideration liability for the acquisition of Sinotop Hong Kong at December 31, 2012.
 
 
As of December 31, 2012
 
 
 
Number of
Current
Noncurrent
Total
 
Instruments
Liability
Liability
Liability
Shares July 2013
             245,274
 $          355,647
 $                       -
 $          355,647
Shares July 2014
             245,274
                          -
             355,647
             355,647
Total Common Shares
             490,548
 $          355,647
 $          355,647
 $          711,294
 
 
 
 
 
Options July 2013
               26,667
 $            12,981
 $                       -
 $            12,981
Options July 2014
               26,666
                          -
               12,981
               12,981
Total Options
               53,333
 $            12,981
 $            12,981
 $            25,962
 
 
 
 
 
Total Shares and Options
             543,881
 $          368,628
 $          368,628
 $          737,256
 
 
 
 
 
 
 
 
 
 
 
As of December 31, 2011
 
 
 
Number of
Current
Noncurrent
Total
 
Instruments
Liability
Liability
Liability
Shares July 2012
             245,274
 $       1,027,391
 $                       -
 $       1,027,391
Shares July 2013
             245,274
                          -
          1,066,573
          1,066,573
Shares July 2014
             245,274
                          -
          1,053,145
          1,053,145
Total Common Shares
             735,822
 $       1,027,391
 $       2,119,718
 $       3,147,109
 
 
 
 
 
 
 
 
 
 
Options July 2012
               26,667
 $            64,180
 $                       -
 $            64,180
Options July 2013
               26,667
                          -
               71,620
               71,620
Options July 2014
               26,666
                          -
               76,180
               76,180
Total Options
               80,000
 $            64,180
 $          147,800
 $          211,980
 
 
 
 
 
Total Shares and Options
             815,822
 $       1,091,571
 $       2,267,518
 $       3,359,089