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INVESTMENTS (Details 8) (USD $)
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12 Months Ended | ||
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Dec. 31, 2012
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Dec. 31, 2011
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Jan. 26, 2006
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| Investments at cost: | |||
| Balance, beginning of year | $ 766,598 | $ 766,598 | $ 250,000 |
| Impairment | (16,598) | 0 | |
| New investments | 300,000 | 0 | |
| Total | $ 1,050,000 | $ 766,598 | $ 250,000 |
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- Definition
This item represents new cost method investment made by the entity. No definition available.
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- Definition
This element represents the aggregate carrying amount of all cost-method investments held by the Company. Generally, such investments do not have readily determinable fair values and are not required to be accounted for by the equity method. The carrying amount of such securities equates to cost, adjusted for other-than-temporary impairment. The cost method and lower-of-cost or market, an adaptation of the cost method, is generally followed for most investments in noncontrolled corporations, in some corporate joint ventures, and to a lesser extent in unconsolidated subsidiaries, particularly foreign. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
This item represents an other than temporary decline in value that has been recognized against an investment accounted for under the cost method of accounting. The excess of the carrying amount over the fair value of the investment represents the amount of the write down which is or was reflected in earnings. The written down value is a new cost basis with the adjusted value of the investment becoming its new carrying value. Evidence of a loss in value might include, but would not necessarily be limited to, absence of an ability to recover the carrying amount of the investment or inability of the investee to sustain an earnings capacity which would justify the carrying amount of the investment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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