PREPAID EXPENSES AND OTHER CURRENT ASSETS, NET (Tables)

6 Months Ended

Jun. 30, 2013

PREPAID EXPENSES AND OTHER CURRENT ASSETS, NET [Abstract]

Schedule of Prepaid Expenses and Other Current Assets, Net

Prepaid expenses and other current assets, net as of June 30, 2013 and December 31, 2012 were as follows:

	As of June 30, 2013			As of December 31, 2012
Payments from customers withheld by a third party	$	1,553,059		$	1,524,481
Prepaid expenses		108,222			108,102
Rental deposits		53,272			55,049
Other receivables		-			333
Sub-total		1,714,553			1,687,965
Less: allowance for doubtful debts		(1,555,189	)		(1,526,574	)
Total	$	159,364		$	161,391