PREPAYMENTS FOR ADVERTISING OPERATING RIGHTS, NET

9 Months Ended

Sep. 30, 2014

PREPAYMENTS FOR ADVERTISING OPERATING RIGHTS, NET [Abstract]

PREPAYMENTS FOR ADVERTISING OPERATING RIGHTS, NET

NOTE 6.                   PREPAYMENTS FOR ADVERTISING OPERATING RIGHTS, NET

Prepayments for advertising operating rights, net as of September 30, 2014 and December 31, 2013 were as follows:

	As of September 30, 2014		As of December 31, 2013
Gross carrying amount	$	-	$	648,082
Less: accumulated amortization		-		(648,082	)
Total	$	-	$	-

Total amortization expense of prepayments for advertising operating rights of the Company for the three months ended September 30, 2014 and 2013 were $nil and $160,489, while for the nine months ended September 30, 2014 and 2013 were $nil and $726,015, respectively. The amortization expense of prepayments for advertising operating rights was included as cost of advertising services in the unaudited condensed consolidated statements of operations.

As the Company has incurred continuous net losses, the Company performed an impairment review of its prepayments for advertising operating rights. The Company recorded no impairment loss for the three and nine months ended September 30, 2014 and 2013.