NATURE OF BUSINESS (Details Textual) (USD $)
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3 Months Ended | 6 Months Ended | 12 Months Ended | 1 Months Ended | |||||
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Jun. 30, 2013
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Jun. 30, 2012
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Jun. 30, 2013
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Jun. 30, 2012
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Dec. 31, 2012
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Apr. 11, 2013
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Jun. 30, 2013
South Africa [Member]
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Aug. 02, 2013
Secured Subordinate Convertible Notes [Member]
Subsequent Event [Member]
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Jan. 31, 2013
Chief Executive Officer [Member]
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Stockholders' Equity Note, Stock Split | Effective May 11, 2012, the Company's common stock was reverse split, 1 share for each 2 shares issued, pursuant to a majority vote of the Company's shareholders. All share references have been adjusted as if the split occurred in all periods presented. | ||||||||
TOTAL CURRENT ASSETS | $ 3,670,833 | $ 3,670,833 | $ 2,030,375 | ||||||
TOTAL CURRENT LIABILITIES | 4,602,935 | 4,602,935 | 1,772,852 | ||||||
Working Capital Balance(Deficit) | 932,102 | 932,102 | |||||||
Net loss | (681,964) | (843,616) | (1,444,777) | (1,547,401) | |||||
non(controlling interest) | (13,202) | (132,021) | (36,966) | (237,639) | |||||
Foreign translation income (loss) | 41,400 | 7,666 | 54,916 | (1,048) | |||||
Other comprehensive income (loss): | (678,746) | (967,971) | (1,426,827) | (1,786,088) | |||||
Approximate General and Administrative Expenses | 675,000 | 650,000 | |||||||
Going Concern Description | In August 2012, the Company opened a restaurant in Budapest, Hungary, and earns 80% of the profits with our operating partner earning 20%. The Company also earns 49% of the profits with our operating partner earning 51% in its Hooters restaurant which was opened in January 2012 in Campbelltown, Australia, a suburb of Sydney. | ||||||||
Line of Credit, Current | 500,000 | 500,000 | |||||||
Line of credit to a bank | 342,000 | 342,000 | 0 | 732,000 | 210,814 | ||||
Other Liabilities | 210,814 | 210,814 | 170,000 | ||||||
Gain on extinguishment of debt | 70,900 | 0 | |||||||
Payment Of Bank Liabilities | 99,000 | ||||||||
Director Sitting Fee | 100,000 | ||||||||
Advances from investors Current | 2,750,000 | 2,750,000 | 0 | ||||||
Restricted Cash and Cash Equivalents, Current | 2,750,000 | 2,750,000 | |||||||
Debt Instrument, Face Amount | $ (3,000,000) | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.00% |
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Amount of borrowings as of the balance sheet date from the investors, which are primarily used to cover shortages in the required reserve balances. No definition available.
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The approximate amount of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. No definition available.
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The amount of sitting fees for the director to attend the board meeting. No definition available.
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It represents the going concern descriptions. No definition available.
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The amount represents the payment of bank liabilities. No definition available.
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Amount of working capital deficiency as of the balance sheet. No definition available.
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Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Face (par) amount of debt instrument at time of issuance. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amount borrowed under the credit facility as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The carrying value as of the balance sheet date of the current portion of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amount before tax, after reclassification adjustments, of appreciation (loss) in value of unsold available-for-sale securities, attributable to parent entity. Excludes amounts related to other than temporary impairment (OTTI) loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amount after tax, before reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The aggregate carrying amount, as of the balance sheet date, of liabilities not separately disclosed in the balance sheet. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The carrying amounts of cash and cash equivalent items which are restricted as to withdrawal or usage. Restrictions may include legally restricted deposits held as compensating balances against short-term borrowing arrangements, contracts entered into with others, or entity statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits. Excludes compensating balance arrangements that are not agreements which legally restrict the use of cash amounts shown on the balance sheet. For a classified balance sheet represents the current portion only (the noncurrent portion has a separate concept); there is a separate and distinct element for unclassified presentations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Description of the stock split arrangement. Also provide the retroactive effect given by a stock split that occurs after the balance date but before the release of financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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