ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER PAYABLES (Tables)

6 Months Ended

Jun. 30, 2014

ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER PAYABLES [Abstract]

Schedule of Accounts Payable, Accrued Expenses and Other Payables

	As of June 30, 2014		As of December 31, 2013
Accrued advertising operating rights	$	1,711,416		$	1,222,004
Accrued staff benefit and related fees		1,144,703			1,032,593
Accrued professional fees		151,426			109,559
Director's loan (Note 13)		-			85,244
Accrued interest expenses		319,045			345,917
Other accrued expenses		318,623			381,187
Short-term loans 1)		1,664,831			1,536,440
Receipts in advance		41,098			117,829
Other payables		29,348			9,088
Total	$	5,380,490		$	4,839,861

1)

As of June 30, 2014, the Company recorded an aggregated amount of $1,664,831 in short-term loans. Those loans were borrowed from an unrelated individual. Those loans are unsecured, bear a monthly interest of 1.5% and shall be repayable in one month. However, according to the agreement, the Company shall have the option to shorten or extend the life of those short-term loans if the need arises and the Company has agreed with the lender to extend the short-term loans on the due date. As of the date of this report, those loans have not yet been repaid.