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ForceField Energy Inc. – ‘10-K’ for 12/31/13 – ‘EX-101.INS’

On:  Tuesday, 4/15/14, at 4:10pm ET   ·   For:  12/31/13   ·   Accession #:  1354488-14-1893   ·   File #:  1-36133

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 4/15/14  ForceField Energy Inc.            10-K       12/31/13   94:7.4M                                   Issuer Direct/FA

Annual Report   —   Form 10-K   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML   1.00M 
 2: EX-10.1     Amendment No. 1 to Product Exclusive Distributor    HTML     38K 
                Agreement                                                        
 3: EX-10.2     Amendment No. 2 to Product Exclusive Distributor    HTML     33K 
                Agreement                                                        
 4: EX-21.1     List of Subsidiaries                                HTML     25K 
 5: EX-31.1     Certification -- §302 - SOA'02                      HTML     32K 
 6: EX-31.2     Certification -- §302 - SOA'02                      HTML     32K 
 7: EX-32.1     Certification -- §906 - SOA'02                      HTML     28K 
65: R1          Document and Entity Information                     HTML     53K 
52: R2          Consolidated Balance Sheets                         HTML    134K 
63: R3          Consolidated Balance Sheets (Parenthetical)         HTML     46K 
67: R4          Consolidated Statements of Operations and           HTML    117K 
                Comprehensive Loss                                               
86: R5          Consolidated Statement of Stockholders' Equity      HTML     77K 
                (Deficit)                                                        
54: R6          Consolidated Statements of Cash Flows               HTML    162K 
62: R7          1. Nature of Operations                             HTML     28K 
47: R8          2. Summary of Significant Accounting Policies       HTML     72K 
36: R9          3. the Effect of Recently Issued Accounting         HTML     35K 
                Standards                                                        
87: R10         4. Accounts Receivable                              HTML     34K 
69: R11         5. Inventory                                        HTML     31K 
68: R12         6. Prepaid Expenses and Other Current Assets        HTML     31K 
74: R13         7. Property, Plant and Equipment                    HTML     45K 
75: R14         8. Business Combinations                            HTML     48K 
72: R15         9. Goodwill and Intangible Assets, Net              HTML     54K 
76: R16         10. Related Party Receivables                       HTML     32K 
64: R17         11. Other Assets                                    HTML     30K 
66: R18         12. Accounts Payable and Accrued Liabilities        HTML     35K 
71: R19         13. Related Party Payables                          HTML     30K 
94: R20         14. Discontinued Operations                         HTML     77K 
82: R21         15. Income Taxes                                    HTML     64K 
58: R22         16. Debt                                            HTML     55K 
70: R23         17. Stockholders' Equity                            HTML     64K 
60: R24         18. Commitments and Contingencies                   HTML     32K 
27: R25         19. Segment Information                             HTML     97K 
83: R26         20. Subsequent Events                               HTML     33K 
90: R27         2. Summary of Significant Accounting Policies       HTML    153K 
                (Policies)                                                       
42: R28         2. Summary of Significant Accounting Policies       HTML     29K 
                (Tables)                                                         
41: R29         4. Accounts Receivable (Tables)                     HTML     30K 
45: R30         5. Inventory (Tables)                               HTML     32K 
46: R31         6. Prepaid Expenses and Other Current Assets        HTML     32K 
                (Tables)                                                         
48: R32         7. Property, Plant and Equipment (Tables)           HTML     38K 
21: R33         8. Business Combinations (Tables)                   HTML     32K 
80: R34         9. Goodwill and Intangible Assets (Tables)          HTML     49K 
56: R35         10. Related Party Receivables - Trade (Tables)      HTML     28K 
59: R36         11. Other Assets (Tables)                           HTML     28K 
31: R37         12. Accounts Payable and Accrued Liabilities        HTML     35K 
                (Tables)                                                         
93: R38         13. Related Party Payables (Tables)                 HTML     28K 
14: R39         14. Discontinued Operations (Tables)                HTML     79K 
49: R40         15. Income Taxes (Tables)                           HTML     67K 
85: R41         16. Debt (Tables)                                   HTML     52K 
29: R42         17. Stockholders' Equity (Tables)                   HTML     49K 
40: R43         19. Segment Information (Tables)                    HTML     60K 
44: R44         2. Summary of Significant Accounting Policies       HTML     34K 
                (Details)                                                        
53: R45         4. Accounts Receivable, Net (Details)               HTML     40K 
20: R46         4. Accounts Receivable, Net (Details Narrative)     HTML     25K 
35: R47         5. Inventory (Details)                              HTML     32K 
16: R48         5. Inventory (Details Narrative)                    HTML     25K 
84: R49         6. Prepaid Expenses and Other Current Assets        HTML     37K 
                (Details)                                                        
28: R50         7. Property, Plant and Equipment (Details)          HTML     31K 
81: R51         7. Property, Plant and Equipment (Details           HTML     26K 
                Narrative)                                                       
32: R52         8. Business Combinations (Details)                  HTML     54K 
50: R53         8. Business Combinations (Details Narrative)        HTML     28K 
15: R54         9. Goodwill and Intangible Assets, Net (Details)    HTML     30K 
19: R55         9. Goodwill and Intangible Assets, Net (Details 1)  HTML     37K 
43: R56         9. Goodwill and Intangible Assets, Net (Details 2)  HTML     40K 
23: R57         9. Goodwill and Intangible Assets, Net (Details     HTML     30K 
                Narrative)                                                       
88: R58         10. Related Party Receivables - Trade (Details)     HTML     27K 
55: R59         11. Other Assets (Details)                          HTML     27K 
73: R60         12. Accounts Payable and Accrued Liabilities        HTML     45K 
                (Details)                                                        
34: R61         13. Related Party Payables (Details)                HTML     28K 
38: R62         14. Discontinued Operations (Details)               HTML     51K 
79: R63         14. Discontinued Operations (Details 1)             HTML    112K 
77: R64         15. Income Taxes (Details)                          HTML     60K 
57: R65         15. Income Taxes (Details 1)                        HTML     48K 
78: R66         15. Income Taxes (Details 2)                        HTML     33K 
33: R67         15. Income Taxes (Details 3)                        HTML     48K 
61: R68         15. Income Taxes (Details Narrative)                HTML     28K 
89: R69         16. Debt (Details)                                  HTML     40K 
18: R70         16. Debt (Details 1)                                HTML     54K 
26: R71         17. Stockholders' Equity (Details)                  HTML     48K 
51: R72         17. Stockholders' Equity (Details 1)                HTML     34K 
22: R73         17. Stockholders' Equity (Details Narrative)        HTML     55K 
92: R74         19. Segment Information (Details)                   HTML     49K 
30: R75         19. Segment Information (Details 1)                 HTML     26K 
24: R76         19. Segment Information (Details 2)                 HTML     35K 
25: R77         19. Segment Information (Details Narrative)         HTML     31K 
91: XML         IDEA XML File -- Filing Summary                      XML    132K 
17: EXCEL       IDEA Workbook of Financial Reports                  XLSX    184K 
39: EXCEL       IDEA Workbook of Financial Reports (.xls)            XLS    903K 
 8: EX-101.INS  XBRL Instance -- ssie-20131231                       XML   1.45M 
10: EX-101.CAL  XBRL Calculations -- ssie-20131231_cal               XML    187K 
11: EX-101.DEF  XBRL Definitions -- ssie-20131231_def                XML    331K 
12: EX-101.LAB  XBRL Labels -- ssie-20131231_lab                     XML    979K 
13: EX-101.PRE  XBRL Presentations -- ssie-20131231_pre              XML    725K 
 9: EX-101.SCH  XBRL Schema -- ssie-20131231                         XSD    200K 
37: ZIP         XBRL Zipped Folder -- 0001354488-14-001893-xbrl      Zip    136K 


‘EX-101.INS’   —   XBRL Instance — ssie-20131231


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<p style="margin: 0pt"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">ForceField Energy Inc. (“ForceField” or the “Company”) is an international designer, distributor, and licensee of high-efficiency energy products and alternative energy technologies. ForceField is the exclusive North American distributor of light emitting diode (LED) commercial lighting products and fixtures for a premier manufacturer in China; ForceField owns 50.3% of TransPacific Energy, Inc. (“TPE”), a U.S. based renewable energy technology provider that uses “waste heat” from various manufacturing and other sources to provide clean electricity; and through the period ended February 19, 2014 was a producer of trichlorosilane (“TCS”) in China. TCS is a chemical primarily used in the production of polysilicon, which is an essential raw material in the production of solar cells for photovoltaic (“PV”) panels that convert sunlight to electricity. This TCS was sold to the marketplace via two operating segments, (1) a 90% owned TCS distribution company, and (2) through the 60% ownership of a TCS plant, both of which are located in China.</p> <p style="margin: 0pt"></p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Accounts receivable at December 31, 2013 and 2012 were comprised of the following:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td colspan="2" style="border-bottom: black 1.5pt solid"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31,</b></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2013</b></font></p></td> <td style="padding-bottom: 1.5pt; font-size: 12pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="padding-bottom: 1.5pt; font-size: 12pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td colspan="2" style="border-bottom: black 1.5pt solid"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31,</b></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2012</b></font></p></td> <td style="padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="vertical-align: bottom"> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td colspan="2"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td colspan="2"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 78%"><font style="font: 8pt Times New Roman, Times, Serif">Accounts receivable</font></td> <td style="width: 1%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 8%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">262,744</font></td> <td style="width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="width: 1%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 8%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">309,000</font></td> <td style="width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 8pt Times New Roman, Times, Serif">Unbilled receivables, not billable</font></td> <td style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">37,806</font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">26,168</font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 8pt Times New Roman, Times, Serif">Allowance for doubtful accounts</font></td> <td style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(23,554</font></td> <td><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(51,500</font></td> <td><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif">Total</font></td> <td style="padding-bottom: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 2.25pt double"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">276,996</font></td> <td style="padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="padding-bottom: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 2.25pt double"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">283,668</font></td> <td style="padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">As of December 31, 2013, one customer accounted for approximately 86% of total accounts receivable. This same customer also accounted for approximately 35% of the Company’s revenues for the year ended December 31, 2013.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">As of December 31, 2012, one customer accounted for approximately 83% of total accounts receivable. This same customer also accounted for approximately 33% of the Company’s revenues for the year ended December 31, 2012.</font></p>
</SSIE:AccountsReceivableTextBlock>
<us-gaap:InventoryDisclosureTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="margin: 0pt"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Inventory at December 31, 2013 and 2012 was comprised of the following:</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>December 31,</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2013</b></p></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>December 31,</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2012</b></p></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 78%"><font style="font-size: 8pt">Raw materials</font></td> <td style="width: 1%; text-align: right"> </td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 8%; text-align: right"><font style="font-size: 8pt"></font></td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: right"> </td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 8%; text-align: right"><font style="font-size: 8pt"></font></td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font-size: 8pt">Finished goods</font></td> <td style="text-align: right"> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">28,944</font></td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt"></font></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt"></font></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 0.25pc"><font style="font-size: 8pt">Total</font></td> <td style="padding-bottom: 0.25pc; text-align: right"> </td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">28,944</font></td> <td style="padding-bottom: 0.25pc"> </td> <td style="padding-bottom: 0.25pc; text-align: right"> </td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt"></font></td> <td style="padding-bottom: 0.25pc"> </td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">At December 31, 2013, the Company did not record any provisions to its allowance for excess or obsolete inventory.</p> <p style="margin: 0pt"></p>
</us-gaap:InventoryDisclosureTextBlock>
<us-gaap:OtherCurrentAssetsTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="margin: 0pt"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Prepaid expenses and other current assets at December 31, 2013 and 2012 were comprised of the following:</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>December 31,</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2013</b></p></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>December 31,</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2012</b></p></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 78%"><font style="font-size: 8pt">Advances to employees</font></td> <td style="width: 1%; text-align: right"> </td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 8%; text-align: right"><font style="font-size: 8pt">15,775</font></td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: right"> </td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 8%; text-align: right"><font style="font-size: 8pt"></font></td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font-size: 8pt">Advances to suppliers</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">66,649</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">41,055</font></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font-size: 8pt">Insurance premiums</font></td> <td style="text-align: right"> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">24,074</font></td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">16,994</font></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font-size: 8pt">Service agreements</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">16,000</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">15,000</font></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Other</font></td> <td style="padding-bottom: 1.5pt; text-align: right"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">16,731</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: right"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">5,431</font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font-size: 8pt">Total</font></td> <td style="text-align: right"> </td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">139,229</font></td> <td> </td> <td> </td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">78,480</font></td> <td> </td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Advances made to suppliers are for the purchase of finished goods and are expected to be recovered within twelve months. </p> <p style="margin: 0pt"></p>
</us-gaap:OtherCurrentAssetsTextBlock>
<us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Property, plant and equipment at December 31, 2013 and 2012 were comprised of the following:</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: bottom; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="10" style="vertical-align: bottom; border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font-size: 8pt"><b>December 31, 2013</b></font></td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: top; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="10" style="vertical-align: bottom; border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font-size: 8pt"><b>December 31, 2012</b></font></td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="vertical-align: bottom; text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt"><b>Accumulated</b></font></td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="vertical-align: bottom; text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt"><b>Net book</b></font></td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: top; font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: top; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: top; font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="vertical-align: bottom; text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt"><b>Accumulated</b></font></td> <td style="vertical-align: top; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="vertical-align: bottom; text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt"><b>Net book</b></font></td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: bottom; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font-size: 8pt"><b>Cost</b></font></td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font-size: 8pt"><b>Depreciation</b></font></td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font-size: 8pt"><b>Value</b></font></td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: top; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font-size: 8pt"><b>Cost</b></font></td> <td style="vertical-align: top; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: top; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font-size: 8pt"><b>Depreciation</b></font></td> <td style="vertical-align: top; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font-size: 8pt"><b>Value</b></font></td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: top; font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: top; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: top; font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: top; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="background-color: #CCEEFF; font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: bottom; width: 28%; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">Furniture and equipment</font></td> <td style="vertical-align: bottom; width: 1%; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; width: 1%; border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: bottom; width: 9%; border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font-size: 8pt">7,108</font></td> <td style="vertical-align: bottom; width: 1%; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; width: 1%; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; width: 1%; border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: bottom; width: 9%; border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font-size: 8pt">(35</font></td> <td style="vertical-align: bottom; width: 1%; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">)</font></td> <td style="vertical-align: bottom; width: 1%; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; width: 1%; border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: bottom; width: 9%; border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font-size: 8pt">7,073</font></td> <td style="vertical-align: bottom; width: 1%; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: top; width: 1%; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; width: 1%; border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: bottom; width: 9%; border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom; width: 1%; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; width: 1%; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; width: 1%; border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: bottom; width: 9%; border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom; width: 1%; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; width: 1%; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; width: 1%; border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: bottom; width: 9%; border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom; width: 1%; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="background-color: white; font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: top; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="background-color: #CCEEFF; font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: bottom; padding-bottom: 0.25pc; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">Total</font></td> <td style="vertical-align: bottom; padding-bottom: 0.25pc; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font-size: 8pt">7,108</font></td> <td style="vertical-align: bottom; padding-bottom: 0.25pc; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; padding-bottom: 0.25pc; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font-size: 8pt">(35</font></td> <td style="vertical-align: bottom; padding-bottom: 0.25pc; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">)</font></td> <td style="vertical-align: bottom; padding-bottom: 0.25pc; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font-size: 8pt">7,073</font></td> <td style="vertical-align: bottom; padding-bottom: 0.25pc; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: top; padding-bottom: 0.25pc; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom; padding-bottom: 0.25pc; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; padding-bottom: 0.25pc; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom; padding-bottom: 0.25pc; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; padding-bottom: 0.25pc; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom; padding-bottom: 0.25pc; font: 8pt Times New Roman, Times, Serif"> </td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Depreciation expense totaled $35 and nil for the years ended December 31, 2013 and 2012, respectively.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Differences may arise in the amount of depreciation expense reported in the Company's operating results as compared to the corresponding change in accumulated depreciation due to foreign currency translation. These translation adjustments are reflected in accumulated other comprehensive income, a separate component of the Company's stockholders' equity.</p> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"></p>
</us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock>
<us-gaap:BusinessCombinationDisclosureTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">During the years ended December 31, 2013 and 2012, the Company completed the acquisition of a 50.3% equity interest in TransPacific Energy, Inc. The acquisition was accounted for as business combination under the acquisition method of accounting.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif"><b> </b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"><b>ACQUISITION OF TRANSPACIFIC ENERGY, INC.</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"><i><u>Description of Transaction</u></i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">On May 10 and May 17, 2012, the Company entered into two share exchange agreements (the “Agreements”) with shareholders of TransPacific Energy, Inc. (“TPE”) to acquire an aggregate controlling equity interest of its common stock. TPE is a renewable energy technology corporation located in California and Nevada that designs and installs proprietary modular Organic Rankine Cycle (“ORC”) units utilizing up to nine patented refrigerant mixtures to maximize heat recovery and convert waste heat directly from any process that generates waste heat or flue gas (such as industrial, solar, geothermal and biomass processes) converting it into electrical energy.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">From June 14, 2012 through August 20, 2012, the Company paid $520,000 in cash and issued 255,356 shares of its common stock, valued at approximately $965,226 or $3.78 per share, in exchange for 24,753,768 shares of TPE’s common stock in accordance with the terms of the Agreements. These investments represent approximately a 50.3% equity interest in the common stock of TPE.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">  </font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The acquisition was accounted for as a business combination under the acquisition method of accounting in accordance with generally accepted accounting principles.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Prior to gaining its controlling interest, the Company accounted for its investment in TPE as prescribed in ASC 323, <i>“Investment — Equity Method and Joint Venture”</i>. Accordingly, the Company adjusted the carrying amount of its investment to recognize its share of earnings or losses. During the year ended December 31, 2012, the Company recorded an equity loss from its investment in TPE of $5,798.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"><i><u>Fair Value of Consideration Transferred and Recording of Assets Acquired, Liabilities Assumed and Non-controlling Interests</u></i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The following table summarizes the acquisition date fair value of the consideration transferred, identifiable assets acquired, liabilities assumed and non-controlling interests including an amount for goodwill:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif"></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td><font style="font-size: 8pt"><b>Consideration:</b></font></td> <td> </td> <td colspan="2"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 89%"><font style="font-size: 8pt">Cash and cash equivalents</font></td> <td style="width: 1%; text-align: right"> </td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 8%; text-align: right"><font style="font-size: 8pt">520,000</font></td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Common stock, 255,356 shares of ForceField common stock (1)</font></td> <td style="padding-bottom: 1.5pt; text-align: right"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">965,226</font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font-size: 8pt">Fair value of consideration transferred</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">1,485,226</font></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Equity loss on investment in TransPacific Energy, Inc.</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(5,798</font></td> <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 0.25pc"><font style="font-size: 8pt">Fair value of total consideration </font></td> <td style="padding-bottom: 0.25pc"> </td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">1,479,428</font></td> <td style="padding-bottom: 0.25pc"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font-size: 8pt"><b>Recognized amount of identifiable assets acquired and liabilities assumed:</b></font></td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font-size: 8pt">Financial assets</font></td> <td style="text-align: right"> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">442,629</font></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font-size: 8pt">Identifiable intangible asset - technology</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">1,583,000</font></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font-size: 8pt">Financial liabilities</font></td> <td style="text-align: right"> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">(452,026</font></td> <td><font style="font-size: 8pt">)</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Deferred tax liability</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(645,009</font></td> <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font-size: 8pt">Total identifiable net assets</font></td> <td style="text-align: right"> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">928,594</font></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font-size: 8pt">Noncontrolling interest</font></td> <td style="text-align: right"> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">(792,000</font></td> <td><font style="font-size: 8pt">) </font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Goodwill</font></td> <td style="padding-bottom: 1.5pt; text-align: right"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">1,342,834</font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 0.25pc"> </td> <td style="padding-bottom: 0.25pc; text-align: right"> </td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">1,479,428</font></td> <td style="padding-bottom: 0.25pc"> </td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">_____________</font></p> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 4%"><font style="font: 8pt Times New Roman, Times, Serif">(1)</font></td> <td style="width: 96%; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The $3.78 per share price was determined by calculating the 30-day weighted average trading price of the Company’s common stock immediately preceding the initial June 14, 2012 funding of the transaction.</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Goodwill represents the future economic benefit arising from other assets acquired that could not be individually identified and separately recognized. The goodwill arising from the acquisition is attributable to the general reputation of TransPacific’s founding owner and expected synergies. The goodwill is not expected to be deductible for tax purposes.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Below is a summary of the methodologies and significant assumptions used in estimating the fair value of intangible assets and noncontrolling interests.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr> <td style="width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="vertical-align: top; width: 2%"><font style="font: 8pt Times New Roman, Times, Serif"></font></td> <td style="vertical-align: top; width: 3%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="vertical-align: top; width: 94%; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"><i>Intangible assets </i>— The fair value of the existing technology was determined using the multi-period excess earnings method. The multi-period excess earnings method estimates an intangible asset’s value based on the present value of the prospective net cash flows (or excess earnings) attributable to it. The value was based on projected net cash inflows for a discreet period plus a terminal value. This fair value measurement is based on significant inputs that are not observable in the market and thus represents a Level 3 measurement as defined in ASC Topic 820. Key assumptions in the prospective cash flows include (i) a compound annual sales growth rate of 40% for the ten year period after the measurement date, (ii) a gross margin rate of 44% in year 1 increasing to 79% in year 10, (iii) a weighted average cost of capital of 55% in year 1 decreasing to 15% in year 10, (iv) a terminal value based on a long-term sustainable growth rate of 3.0%. We estimate a useful life of 15 years which represents the shorter of the patent protection period and the estimated period that it will contribute to future cash flows.</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr> <td style="width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="vertical-align: top; width: 2%"><font style="font: 8pt Times New Roman, Times, Serif"></font></td> <td style="vertical-align: top; width: 3%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="vertical-align: top; width: 94%; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"><i>Noncontrolling interest </i>— The fair value of the noncontrolling interest of $792,000 was determined based upon the $1,485,226 fair value of consideration transferred to acquire our 50.3% interest, less adjustments for lack of control and lack of marketability that market participants would consider when estimating the fair value of the noncontrolling interest in TransPacific.</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p>
</us-gaap:BusinessCombinationDisclosureTextBlock>
<us-gaap:GoodwillAndIntangibleAssetsDisclosureTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="margin: 0pt"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The carrying amount of goodwill at December 31, 2013 and 2012 was comprised of the following:</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: right"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>December 31,</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2013</b></p></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>December 31,</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2012</b></p></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 78%"><font style="font-size: 8pt">Goodwill – TransPacific Energy, Inc.</font></td> <td style="width: 1%"> </td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 8%; text-align: right"><font style="font-size: 8pt">1,342,834</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 8%; text-align: right"><font style="font-size: 8pt">1,342,834</font></td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Impairment charge</font></td> <td style="padding-bottom: 1.5pt; text-align: right"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(1,342,834</font></td> <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td> <td style="padding-bottom: 1.5pt; text-align: right"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt"></font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 0.25pc"><font style="font-size: 8pt">Goodwill, net at December 31, 2013</font></td> <td style="padding-bottom: 0.25pc; text-align: right"> </td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt"></font></td> <td style="padding-bottom: 0.25pc"> </td> <td style="padding-bottom: 0.25pc; text-align: right"> </td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">1,342,834</font></td> <td style="padding-bottom: 0.25pc"> </td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><i><u>Goodwill Impairment</u></i></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Goodwill represents the excess of cost over fair value of assets of businesses acquired. Goodwill acquired in a business combination is not amortized. The Company evaluates the carrying amount of goodwill for impairment annually on December 31 and whenever events or circumstances indicate impairment may have occurred.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">When evaluating whether goodwill is impaired, the Company compares the fair value of the reporting unit to which the goodwill is assigned to the reporting unit’s carrying amount, including goodwill. The fair value of the reporting unit is estimated using a combination of the income, or discounted cash flows, approach and the market approach, which utilizes comparable companies’ data. If the carrying amount of a reporting unit exceeds its fair value, then the amount of the impairment loss must be measured. The impairment loss would be calculated by comparing the implied fair value of reporting unit goodwill to its carrying amount. In calculating the implied fair value of reporting unit goodwill, the fair value of the reporting unit is allocated to all of the other assets and liabilities of that unit based on their fair values. The excess of the fair value of a reporting unit over the amount assigned to its other assets and liabilities is the implied fair value of goodwill. An impairment loss would be recognized when the carrying amount of goodwill exceeds its implied fair value.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Due to the inability to meet anticipated sales growth, the Company assessed the acquired goodwill at the reporting unit level for impairment as of December 31, 2013. Based on a discounted cash flows model utilizing estimated future earnings, the fair value of the reporting unit was less than the carrying value of the acquired goodwill. The Company’s evaluation of goodwill resulted in a total impairment charge of $1,342,834 for the year ended December 31, 2013. The total impairment charge was recorded to the Company’s ORC segment.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Intangible assets at December 31, 2013 and 2012 were comprised of the following:</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: right"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="padding-bottom: 1.5pt"> </td> <td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td> <td colspan="11" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt"><b>December 31, 2013</b></font></td> <td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td> <td colspan="11" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt"><b>December 31, 2012</b></font></td> <td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="2" style="text-align: center"><font style="font-size: 8pt"><b>Amortization</b></font></td> <td nowrap="nowrap"> </td> <td colspan="3" style="text-align: center"><font style="font-size: 8pt"><b>Gross</b></font></td> <td nowrap="nowrap"> </td> <td colspan="3"> </td> <td nowrap="nowrap"> </td> <td colspan="3" style="text-align: center"><font style="font-size: 8pt"><b>Net</b></font></td> <td nowrap="nowrap"> </td> <td colspan="3" style="text-align: center"><font style="font-size: 8pt"><b>Gross</b></font></td> <td nowrap="nowrap"> </td> <td colspan="3"> </td> <td nowrap="nowrap"> </td> <td colspan="3" style="text-align: center"><font style="font-size: 8pt"><b>Net</b></font></td> <td nowrap="nowrap"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="2" style="text-align: center"><font style="font-size: 8pt"><b>Period</b></font></td> <td nowrap="nowrap"> </td> <td colspan="3" style="text-align: center"><font style="font-size: 8pt"><b>Carrying</b></font></td> <td nowrap="nowrap"> </td> <td colspan="3" style="text-align: center"><font style="font-size: 8pt"><b>Accumulated</b></font></td> <td nowrap="nowrap"> </td> <td colspan="3" style="text-align: center"><font style="font-size: 8pt"><b>Book</b></font></td> <td nowrap="nowrap"> </td> <td colspan="3" style="text-align: center"><font style="font-size: 8pt"><b>Carrying</b></font></td> <td nowrap="nowrap"> </td> <td colspan="3" style="text-align: center"><font style="font-size: 8pt"><b>Accumulated</b></font></td> <td nowrap="nowrap"> </td> <td colspan="3" style="text-align: center"><font style="font-size: 8pt"><b>Book</b></font></td> <td nowrap="nowrap"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt"><b>(Years)</b></font></td> <td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td> <td colspan="3" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt"><b>Amount</b></font></td> <td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td> <td colspan="3" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt"><b>Amortization</b></font></td> <td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td> <td colspan="3" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt"><b>Value</b></font></td> <td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td> <td colspan="3" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt"><b>Amount</b></font></td> <td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td> <td colspan="3" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt"><b>Amortization</b></font></td> <td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td> <td colspan="3" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt"><b>Value</b></font></td> <td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> </td> <td style="text-align: right"> </td> <td colspan="2" style="text-align: right"> </td> <td nowrap="nowrap"> </td> <td> </td> <td colspan="2"> </td> <td nowrap="nowrap"> </td> <td> </td> <td colspan="2"> </td> <td nowrap="nowrap"> </td> <td> </td> <td colspan="2"> </td> <td nowrap="nowrap"> </td> <td> </td> <td colspan="2"> </td> <td nowrap="nowrap"> </td> <td> </td> <td colspan="2"> </td> <td nowrap="nowrap"> </td> <td> </td> <td colspan="2"> </td> <td nowrap="nowrap"> </td></tr> <tr style="vertical-align: bottom"> <td><font style="font-size: 8pt">Intangible assets subject to amortization:</font></td> <td> </td> <td colspan="2"> </td> <td nowrap="nowrap"> </td> <td> </td> <td colspan="2"> </td> <td nowrap="nowrap"> </td> <td> </td> <td colspan="2"> </td> <td nowrap="nowrap"> </td> <td> </td> <td colspan="2"> </td> <td nowrap="nowrap"> </td> <td> </td> <td colspan="2"> </td> <td nowrap="nowrap"> </td> <td> </td> <td colspan="2"> </td> <td nowrap="nowrap"> </td> <td> </td> <td colspan="2"> </td> <td nowrap="nowrap"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 16%"><font style="font-size: 8pt">Exclusive distribution rights</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">5.0</font></td> <td nowrap="nowrap" style="width: 1%"> </td> <td style="width: 1%; text-align: right"> </td> <td style="width: 1%"> </td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">780,000</font></td> <td nowrap="nowrap" style="width: 1%"> </td> <td style="width: 1%; text-align: right"> </td> <td style="width: 1%"> </td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">(208,000)</font></td> <td nowrap="nowrap" style="width: 1%"> </td> <td style="width: 1%; text-align: right"> </td> <td style="width: 1%"> </td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">572,000</font></td> <td nowrap="nowrap" style="width: 1%"> </td> <td style="width: 1%; text-align: right"> </td> <td style="width: 1%"> </td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">780,000</font></td> <td nowrap="nowrap" style="width: 1%"> </td> <td style="width: 1%; text-align: right"> </td> <td style="width: 1%"> </td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">(52,000)</font></td> <td nowrap="nowrap" style="width: 1%"> </td> <td style="width: 1%; text-align: right"> </td> <td style="width: 1%"> </td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">728,000</font></td> <td nowrap="nowrap" style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Technology</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: right"><font style="font-size: 8pt">15.0</font></td> <td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: right"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">1,583,000</font></td> <td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: right"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(145,108)</font></td> <td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: right"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">1,437,892</font></td> <td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: right"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">1,583,000</font></td> <td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: right"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(39,575)</font></td> <td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: right"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">1,543,425</font></td> <td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td nowrap="nowrap"> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td nowrap="nowrap"> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td nowrap="nowrap"> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td nowrap="nowrap"> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td nowrap="nowrap"> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td nowrap="nowrap"> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td nowrap="nowrap"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 0.25pc"><font style="font-size: 8pt">Total</font></td> <td style="padding-bottom: 0.25pc"> </td> <td> </td> <td style="padding-bottom: 0.25pc; text-align: right"> </td> <td nowrap="nowrap" style="padding-bottom: 0.25pc"> </td> <td style="padding-bottom: 0.25pc; text-align: right"> </td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">2,363,000</font></td> <td nowrap="nowrap" style="padding-bottom: 0.25pc"> </td> <td style="padding-bottom: 0.25pc; text-align: right"> </td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">(353,108)</font></td> <td nowrap="nowrap" style="padding-bottom: 0.25pc"> </td> <td style="padding-bottom: 0.25pc; text-align: right"> </td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">2,009,892</font></td> <td nowrap="nowrap" style="padding-bottom: 0.25pc"> </td> <td style="padding-bottom: 0.25pc; text-align: right"> </td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">2,363,000</font></td> <td nowrap="nowrap" style="padding-bottom: 0.25pc"> </td> <td style="padding-bottom: 0.25pc; text-align: right"> </td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">(91,575)</font></td> <td nowrap="nowrap" style="padding-bottom: 0.25pc"> </td> <td style="padding-bottom: 0.25pc; text-align: right"> </td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">2,271,425</font></td> <td nowrap="nowrap" style="padding-bottom: 0.25pc"> </td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">On August 27, 2012, the Company entered into a five year distribution agreement with Shanghai Lightsky Optoelectronics Technology Co., Ltd. (“Lightsky”), located in Shanghai, China, whereby ForceField became the exclusive distributor of Lightsky LED lighting products in the United States, Canada and Mexico. Lightsky is a manufacturer and seller of numerous patented LED lighting products in China and throughout Asia.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">As consideration for this exclusivity, ForceField issued 150,000 shares of its common stock valued at $780,000, or $5.20 per share, which represented the quoted market price on the date of the transaction. This amount will be amortized using the straight-line method over the five year expected life of the distribution rights. The shares are restricted for an eighteen-month period from their date of issuance. ForceField must achieve certain performance milestones in order to maintain its exclusivity and qualify for any automatic renewal periods beyond the initial five year term.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Amortization expense for the intangible assets subject to amortization totaled $261,533 and $91,575 for the years ended December 31, 2013 and 2012, respectively.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The following table provides information regarding estimated amortization expense for intangible assets subject to amortization for each of the following years ending December 31:</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 89%"><font style="font-size: 8pt">2014</font></td> <td style="width: 1%; text-align: right"> </td> <td style="width: 1%; text-align: right"><font style="font-size: 8pt">$</font></td> <td style="width: 8%; text-align: right"><font style="font-size: 8pt">261,533</font></td> <td style="width: 1%; text-align: right"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font-size: 8pt">2015</font></td> <td style="text-align: right"> </td> <td style="text-align: right"> </td> <td style="text-align: right"><font style="font-size: 8pt">261,533</font></td> <td style="text-align: right"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font-size: 8pt">2016</font></td> <td style="text-align: right"> </td> <td style="text-align: right"> </td> <td style="text-align: right"><font style="font-size: 8pt">261,534</font></td> <td style="text-align: right"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font-size: 8pt">2017</font></td> <td style="text-align: right"> </td> <td style="text-align: right"> </td> <td style="text-align: right"><font style="font-size: 8pt">209,533</font></td> <td style="text-align: right"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font-size: 8pt">2018</font></td> <td style="text-align: right"> </td> <td style="text-align: right"> </td> <td style="text-align: right"><font style="font-size: 8pt">105,533</font></td> <td style="text-align: right"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Thereafter</font></td> <td style="padding-bottom: 1.5pt; text-align: right"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">910,226</font></td> <td style="padding-bottom: 1.5pt; text-align: right"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 0.25pc; text-align: right"> </td> <td style="padding-bottom: 0.25pc; text-align: right"> </td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">2,009,892</font></td> <td style="padding-bottom: 0.25pc; text-align: right"> </td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="margin: 0pt"></p>
</us-gaap:GoodwillAndIntangibleAssetsDisclosureTextBlock>
<us-gaap:AccountsPayableAccruedLiabilitiesAndOtherLiabilitiesDisclosureCurrentTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="margin: 0pt"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Accounts payable were comprised of the following at December 31, 2013 and 2012:</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>December 31,</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2013</b></p></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>December 31,</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2012</b></p></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: bottom; width: 78%; padding-bottom: 1.5pt"><font style="font-size: 8pt">Accounts payable</font></td> <td style="vertical-align: bottom; width: 1%; padding-bottom: 1.5pt; text-align: right"> </td> <td style="vertical-align: bottom; width: 1%; border-bottom: black 1.5pt solid"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: bottom; width: 8%; border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">379,957</font></td> <td style="vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td> <td style="vertical-align: bottom; width: 1%; padding-bottom: 1.5pt; text-align: right"> </td> <td style="vertical-align: bottom; width: 1%; border-bottom: black 1.5pt solid"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: top; width: 8%; border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">232,435</font></td> <td style="vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td></tr> <tr style="background-color: white"> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top"> </td> <td style="vertical-align: bottom"> </td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 3pc"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Accrued liabilities were comprised of the following at December 31, 2013 and 2012:</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>December 31,</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2013</b></p></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>December 31,</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2012</b></p></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: bottom; width: 78%"><font style="font-size: 8pt">Board and executive compensation</font></td> <td style="vertical-align: top; width: 1%"> </td> <td style="vertical-align: top; width: 1%"> </td> <td style="vertical-align: top; width: 8%; text-align: right"><font style="font-size: 8pt">139,500</font></td> <td style="vertical-align: top; width: 1%"> </td> <td style="vertical-align: top; width: 1%"> </td> <td style="vertical-align: top; width: 1%"> </td> <td style="vertical-align: top; width: 8%; text-align: right"><font style="font-size: 8pt">25,500</font></td> <td style="vertical-align: top; width: 1%"> </td></tr> <tr style="background-color: white"> <td style="vertical-align: bottom"><font style="font-size: 8pt">Interest on convertible debentures</font></td> <td style="vertical-align: top"> </td> <td style="vertical-align: top"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">20,917</font></td> <td style="vertical-align: top"> </td> <td style="vertical-align: top"> </td> <td style="vertical-align: top"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">2,437</font></td> <td style="vertical-align: top"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: bottom"><font style="font-size: 8pt">Finder’s fees</font></td> <td style="vertical-align: top"> </td> <td style="vertical-align: top"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">95,900</font></td> <td style="vertical-align: top"> </td> <td style="vertical-align: top"> </td> <td style="vertical-align: top"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">3,000</font></td> <td style="vertical-align: top"> </td></tr> <tr style="background-color: white"> <td style="vertical-align: bottom"><font style="font-size: 8pt">Billings in excess of costs and earned income</font></td> <td style="vertical-align: top"> </td> <td style="vertical-align: top"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">197,200</font></td> <td style="vertical-align: top"> </td> <td style="vertical-align: top"> </td> <td style="vertical-align: top"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">257,500</font></td> <td style="vertical-align: top"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font-size: 8pt">Reserve for estimated losses on contracts in progress</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">13,987</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">126,079</font></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Other</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">4,259</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">16,156</font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top"> </td> <td style="vertical-align: top"> </td> <td style="vertical-align: top"> </td> <td style="vertical-align: top"> </td> <td style="vertical-align: top"> </td> <td style="vertical-align: top"> </td> <td style="vertical-align: top"> </td> <td style="vertical-align: top"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 0.25pc"><font style="font-size: 8pt">Total accrued liabilities</font></td> <td style="padding-bottom: 0.25pc; text-align: right"> </td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">472,763</font></td> <td style="padding-bottom: 0.25pc"> </td> <td style="padding-bottom: 0.25pc; text-align: right"> </td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">430,672</font></td> <td style="padding-bottom: 0.25pc"> </td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="margin: 0pt"></p>
</us-gaap:AccountsPayableAccruedLiabilitiesAndOtherLiabilitiesDisclosureCurrentTextBlock>
<us-gaap:DiscontinuedOperationsPolicyTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">In December 2013, the Board of Directors authorized the ForceField’s management to pursue the sale of its Baokai and Wendeng segments. These segments were each classified as discontinued operations and assets held for sale beginning with the Company’s December 31, 2013 consolidated financial statements. In February 2014, the Company entered into two definitive agreements to sell and transfer its equity interests in Baokai and Wendeng. These transactions each closed on February 19, 2014.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt"> </font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">ForceField’s results of operations related to its Baokai and Wendeng segments have been reclassified as discontinued operations on a retrospective basis for all years presented. See Note 14 - Discontinued Operations for additional information.</font></p>
</us-gaap:DiscontinuedOperationsPolicyTextBlock>
<SSIE:ReverseStockSplitPolicyTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">All preferred and common share amounts (except par value and par value per share amounts) have been retroactively restated to reflect the Company’s one-for-two reverse capital stock split effective October 9, 2012, as described in Note 17 - Stockholders’ Equity to these consolidated financial statements.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt"> </font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt">The significant accounting policies are as follows:</font></p>
</SSIE:ReverseStockSplitPolicyTextBlock>
<us-gaap:ConcentrationRiskCreditRisk contextRef="From2013-01-01to2013-12-31">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of cash and cash equivalents and accounts receivable. At December 31, 2013 and December 31, 2012, the Company’s cash and cash equivalents and restricted cash were held by major financial institutions located in the United States, Hong Kong and China, which management believes are of high credit quality.  </font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt"> </font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">With respect to accounts receivable, the Company extends credit based on an evaluation of the customer’s financial condition. The Company generally does not require collateral for trade receivables and maintains an allowance for doubtful accounts of accounts receivable.</font></p>
</us-gaap:ConcentrationRiskCreditRisk>
<us-gaap:PremiumsReceivableAllowanceForDoubtfulAccountsEstimationMethodologyPolicy contextRef="From2013-01-01to2013-12-31">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">The Company establishes an allowance for doubtful accounts based on management’s assessment of the aging and collectability of its trade receivables. A considerable amount of judgment is required in assessing the amount of the allowance. The underlying assumptions, estimates and assessments we use to provide for losses are updated periodically to reflect our view of current conditions. Generally, the Company records a provision for bad debts equivalent to ten percent of the balance of its trade receivables outstanding for more than ninety days from their date of invoice. Trade receivables outstanding for more than one year from their date of invoice are reserved in full, unless the customer is actively making payments or has entered into a payment agreement with the Company. In such cases, the Company maintains its provision for bad debts at the ten percent level.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt"> </font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">Furthermore, the Company makes judgments about the creditworthiness of each customer based on ongoing credit evaluations and frequent communication, and monitors current economic trends that might impact the level of credit losses in the future. If the financial condition of the customers were to deteriorate, resulting in their inability to make payments, a specific allowance will be recorded.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt"> </font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">Bad debts are written off when identified. The Company extends unsecured credit to substantially all of its customers in the normal course of business. In many cases, this is necessary to remain competitive in the marketplace in which the Company operates. Potential customers for the Company’s products are finite in nature, and typically are larger, well capitalized companies. The Company does not accrue interest on aged trade accounts receivable as it is not a customary practice in the jurisdictions in which the Company operates. Historically, losses from uncollectible accounts have not significantly deviated from the specific allowance estimated by management. This specific provisioning policy has not changed since establishment and the management considers that the aforementioned specific provisioning policy is adequate and does not expect to change this established policy in the near future.</font></p>
</us-gaap:PremiumsReceivableAllowanceForDoubtfulAccountsEstimationMethodologyPolicy>
<us-gaap:PlantConstructionUsingIntermediaryPolicy contextRef="From2013-01-01to2013-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The value of construction in progress comprises buildings and plants under construction, as well as machines and equipment being installed and commissioned, specifically comprises the costs of property, plant and equipment and other direct costs, relevant interest expenses accrued during the construction period and profits and losses from foreign exchange transactions.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Depreciation will not start until the construction in progress is completed and put into operation.</p>
</us-gaap:PlantConstructionUsingIntermediaryPolicy>
<us-gaap:GoodwillAndIntangibleAssetsPolicyTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Under ASC 350, the Company is required to perform an annual impairment test of the Company’s goodwill and indefinite-lived intangibles. On an annual basis, management assesses the composition of the Company’s assets and liabilities, as well as the events that have occurred and the circumstances that have changed since the most recent fair value determination. If events occur or circumstances change that would more likely than not reduce the fair value of goodwill and indefinite-lived intangibles below their carrying amounts, they will be tested for impairment. The Company will recognize an impairment charge if the carrying value of the asset exceeds the fair value determination. The impairment test that the Company has selected historically consisted of a ten year discounted cash flow analysis including the determination of a terminal value, and requires management to make various assumptions and estimates including revenue growth, future profitability, peer group comparisons, and a discount rate which management believes are reasonable.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The impairment test involves a two-step approach. Under the first step, the Company determines the fair value of each reporting subsidiary to which goodwill has been assigned. The Company then compares the fair value of each reporting subsidiary to its carrying value, including goodwill. The Company estimates the fair value of each reporting subsidiary by estimating the present value of the reporting subsidiaries' future cash flows. If the fair value exceeds the carrying value, no impairment loss is recognized. If the carrying value exceeds the fair value, the goodwill of the reporting unit is considered potentially impaired and the second step is completed in order to measure the impairment loss.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Under the second step, the Company calculates the implied fair value of goodwill by deducting the fair value of all tangible and intangible net assets, including any unrecognized intangible assets, of the reporting unit from the fair value of the reporting unit, as determined in the first step. The Company then compares the implied fair value of goodwill to the carrying value of goodwill. If the implied fair value of goodwill is less than the carrying value of goodwill, the Company recognizes an impairment loss equal to the difference.</p>
</us-gaap:GoodwillAndIntangibleAssetsPolicyTextBlock>
<us-gaap:BusinessCombinationsAndOtherPurchaseOfBusinessTransactionsPolicyTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has issued warrants to purchase shares of its common stock. Warrants have been accounted for as equity in accordance with FASB ASC 480,<i> Accounting for Derivative Financial Instruments Indexed to, and Potentially Settled in, a Company’s Own Stock,</i> <i>Distinguishing Liabilities from Equity.</i></p>
</us-gaap:BusinessCombinationsAndOtherPurchaseOfBusinessTransactionsPolicyTextBlock>
<us-gaap:FairValueOfFinancialInstrumentsPolicy contextRef="From2013-01-01to2013-12-31">
<p style="margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The Company adopted FASB ASC 820 on June 1, 2010. The adoption of FASB ASC 820 did not materially impact the Company's financial position, results of operations or cash flows. FASB ASC 820 requires the disclosure of the estimated fair value of financial instruments including those financial instruments for which the fair value option was not elected. The carrying amounts of both the financial assets and liabilities approximate to their fair values due to short maturities or the applicable interest rates approximate the current market rates</font></p>
</us-gaap:FairValueOfFinancialInstrumentsPolicy>
<us-gaap:RevenueRecognitionPolicyTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Revenue from the sales of the Company’s products is recognized upon customer acceptance. This occurs at the time of delivery to the customer, provided persuasive evidence of an arrangement exists, such as a signed sales contract. The significant risks and rewards of ownership are transferred to the customers at the time when the products are delivered and there is no significant post-delivery obligation to the Company. In addition, the sales price is fixed or determinable and collection is reasonably assured. The Company does not provide customers with contractual rights of return for products. When there are significant post-delivery performance obligations, revenue is recognized only after such obligations are fulfilled. The Company evaluates the terms of the sales agreement with its customer in order to determine whether any significant post-delivery performance obligations exist. Currently, the sales do not include any terms which may impose any significant post-delivery performance obligations on the Company.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Revenue from the sales of the Company’s products represents the invoiced value of goods, net of the value-added tax (“VAT”). All of the Company’s products that are sold in China are subject to a Chinese VAT at a rate of 17% of the gross sales price. This VAT may be offset by the VAT paid by the Company on raw and other materials that are included in the cost of producing the Company’s finished products.</p>
</us-gaap:RevenueRecognitionPolicyTextBlock>
<us-gaap:RevenueRecognitionLongTermContracts contextRef="From2013-01-01to2013-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company’s ORC segment’s financial statements are prepared on the percentage-of-completion accrual method of accounting. Income on contracts is recognized based on the Company’s estimate of the percentage-of-completion on individual contracts (cost to cost method), commencing when progress reaches a point where cost analysis and other evidence of trend is sufficient to estimate final results with reasonable accuracy. That portion of the total contract which is allocable to contract expenditures incurred and work performed is accrued as earned income. At the time a loss on a contract becomes known, the entire amount of the estimated ultimate loss is accrued.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Contract costs include all project engineering, components and materials, labor, equipment, and delivery and installation costs as well as assorted indirect costs related to contract performance. The majority of these costs are outsourced to subcontractors and suppliers, Provisions for estimated losses on uncompleted contracts are made in the period in which such losses are determined. Changes in job performance, job conditions, and estimated profitability may result in revisions to costs and income, which are recognized in the period in which the revisions are determined.</p>
</us-gaap:RevenueRecognitionLongTermContracts>
<us-gaap:RevenueRecognitionForAlternativeRevenueProgramsPolicy contextRef="From2013-01-01to2013-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Costs and earned income on construction contracts – unbilled represent the amount by costs of contracts in process plus any estimated earned income exceeding related progress billings. Billings in excess of costs and earned income on construction contracts represent the amount by which progress billings on contracts in process exceed related costs and estimated earned income. Changes in job performance, job conditions and estimated profitability may result in revisions to costs and income and are recognized in the period in which the revisions are determined.</p>
</us-gaap:RevenueRecognitionForAlternativeRevenueProgramsPolicy>
<us-gaap:ShippingAndHandlingCostPolicyTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">All shipping and handling costs are included in cost of goods sold.</p>
</us-gaap:ShippingAndHandlingCostPolicyTextBlock>
<us-gaap:ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company’s functional and reporting currency is the United States dollar. Transactions may occur in Chinese Yuan or Renminbi (“RMB”) and Costa Rican Colones (“CRC”) and management has adopted ASC 830,<i> “Foreign Currency Matters”</i>. The RMB is not freely convertible into foreign currencies. Monetary assets denominated in foreign currencies are translated using the exchange rate prevailing at the balance sheet date. Average monthly rates are used to translate revenues and expenses. The Company has not, to the date of these financial statements, entered into derivative instruments to offset the impact of foreign currency fluctuations.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Exchange gains or losses arising from foreign currency transactions are included in the determination of net income for the respective periods.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Assets and liabilities of the Company’s operations are translated into the reporting currency, United States dollars, at the exchange rate in effect at the balance sheet dates. Revenue and expenses are translated at average rates in effect during the reporting periods. Equity transactions are recorded at the historical rate when the transaction occurred. The resulting translation adjustment is reflected as accumulated other comprehensive income, a separate component of stockholders' equity in the statement of stockholders' equity.  </p>
</us-gaap:ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock>
<us-gaap:ComprehensiveIncomePolicyPolicyTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">ASC 220,<i> “Comprehensive Income”</i>, establishes standards for the reporting and display of comprehensive income and its components in the financial statements. As of December 31, 2013, the Company has items that represent comprehensive income and, therefore, has included a schedule of comprehensive income (loss) in the financial statements.</p>
</us-gaap:ComprehensiveIncomePolicyPolicyTextBlock>
<us-gaap:ProfitLoss contextRef="From2013-01-01to2013-12-31" unitRef="USD" decimals="0"> -8028438 </us-gaap:ProfitLoss>
<us-gaap:ProfitLoss contextRef="From2012-01-01to2012-12-31" unitRef="USD" decimals="0"> -3948080 </us-gaap:ProfitLoss>
<us-gaap:ProfitLoss contextRef="From2012-01-01to2012-12-31_RetainedEarningsMember" unitRef="USD" decimals="0"> -3220672 </us-gaap:ProfitLoss>
<us-gaap:ProfitLoss contextRef="From2012-01-01to2012-12-31_ParentMember" unitRef="USD" decimals="0"> -3220672 </us-gaap:ProfitLoss>
<us-gaap:ProfitLoss contextRef="From2012-01-01to2012-12-31_NoncontrollingInterestMember" unitRef="USD" decimals="0"> -727408 </us-gaap:ProfitLoss>
<us-gaap:ProfitLoss contextRef="From2013-01-01to2013-12-31_us-gaap_RetainedEarningsMember" unitRef="USD" decimals="0"> -5760936 </us-gaap:ProfitLoss>
<us-gaap:ProfitLoss contextRef="From2013-01-01to2013-12-31_us-gaap_ParentMember" unitRef="USD" decimals="0"> -5760936 </us-gaap:ProfitLoss>
<us-gaap:ProfitLoss contextRef="From2013-01-01to2013-12-31_us-gaap_NoncontrollingInterestMember" unitRef="USD" decimals="0"> -2267502 </us-gaap:ProfitLoss>
<us-gaap:PropertyPlantAndEquipmentScheduleOfSignificantAcquisitionsAndDisposalsTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="margin: 0pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">Property and equipment are stated at cost or fair value if acquired as part of a business combination. Depreciation is computed by the straight-line method and is charged to operations over the estimated useful lives of the assets. Maintenance and repairs are charged to expense as incurred. The carrying amount and accumulated depreciation of assets sold or retired are removed from the accounts in the year of disposal and any resulting gain or loss is included in results of operations. The estimated useful lives of property and equipment are as follows:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 67%; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="width: 33%; border-bottom: black 1.5pt solid"><font style="font: 8pt Times New Roman, Times, Serif"><b>Estimated Useful Lives</b></font></td></tr> <tr style="vertical-align: top; background-color: #CCEEFF"> <td><font style="font: 8pt Times New Roman, Times, Serif">Building</font></td> <td><font style="font: 8pt Times New Roman, Times, Serif">20 years</font></td></tr> <tr style="vertical-align: top; background-color: white"> <td><font style="font: 8pt Times New Roman, Times, Serif">Machinery and equipment</font></td> <td><font style="font: 8pt Times New Roman, Times, Serif">3 – 10 years</font></td></tr> <tr style="vertical-align: top; background-color: #CCEEFF"> <td><font style="font: 8pt Times New Roman, Times, Serif">Furniture and fixtures</font></td> <td><font style="font: 8pt Times New Roman, Times, Serif">5 – 7 years</font></td></tr> <tr style="vertical-align: top; background-color: white"> <td><font style="font: 8pt Times New Roman, Times, Serif">Computers and software</font></td> <td><font style="font: 8pt Times New Roman, Times, Serif">3 – 7 years</font></td></tr> <tr style="vertical-align: top; background-color: #CCEEFF"> <td><font style="font: 8pt Times New Roman, Times, Serif">Motor vehicles</font></td> <td><font style="font: 8pt Times New Roman, Times, Serif">5 years</font></td></tr> <tr style="vertical-align: top; background-color: white"> <td><font style="font: 8pt Times New Roman, Times, Serif">Leasehold improvements</font></td> <td><font style="font: 8pt Times New Roman, Times, Serif">Lessor of lease term or estimate useful life</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p> <p style="margin: 0pt"></p>
</us-gaap:PropertyPlantAndEquipmentScheduleOfSignificantAcquisitionsAndDisposalsTextBlock>
<us-gaap:ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Accounts receivable at December 31, 2013 and 2012 were comprised of the following:</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>December 31,</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2013</b></p></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>December 31,</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2012</b></p></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 78%"><font style="font-size: 8pt">Accounts receivable</font></td> <td style="width: 1%; text-align: right"> </td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 8%; text-align: right"><font style="font-size: 8pt">262,744</font></td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: right"> </td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 8%; text-align: right"><font style="font-size: 8pt">309,000</font></td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font-size: 8pt">Unbilled receivables, not billable</font></td> <td style="text-align: right"> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">37,806</font></td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">26,168</font></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font-size: 8pt">Allowance for doubtful accounts</font></td> <td style="text-align: right"> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">(23,554</font></td> <td><font style="font-size: 8pt">)</font></td> <td style="text-align: right"> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">(51,500</font></td> <td><font style="font-size: 8pt">)</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 3pt"><font style="font-size: 8pt">Total</font></td> <td style="padding-bottom: 3pt; text-align: right"> </td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">276,996</font></td> <td style="padding-bottom: 3pt"> </td> <td style="padding-bottom: 3pt; text-align: right"> </td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">283,668</font></td> <td style="padding-bottom: 3pt"> </td></tr> </table>
</us-gaap:ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock>
<us-gaap:ScheduleOfInventoryCurrentTableTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Inventory at December 31, 2013 and 2012 was comprised of the following:</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>December 31,</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2013</b></p></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>December 31,</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2012</b></p></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF; font: 8pt Times New Roman, Times, Serif"> <td style="width: 78%; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">Raw materials</font></td> <td style="width: 1%; text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">$</font></td> <td style="width: 8%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt"></font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">$</font></td> <td style="width: 8%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt"></font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; background-color: white; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">Finished goods</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">28,944</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt"></font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; background-color: white; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt"></font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF; font: 8pt Times New Roman, Times, Serif"> <td style="padding-bottom: 0.25pc; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">Total</font></td> <td style="padding-bottom: 0.25pc; text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 2.25pt double; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 2.25pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font-size: 8pt">28,944</font></td> <td style="padding-bottom: 0.25pc; font: 8pt Times New Roman, Times, Serif"> </td> <td style="padding-bottom: 0.25pc; text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 2.25pt double; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 2.25pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font-size: 8pt"></font></td> <td style="padding-bottom: 0.25pc; font: 8pt Times New Roman, Times, Serif"> </td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"></p> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">At December 31, 2013 and 2012, the Company did not record any provisions to its allowance for excess or obsolete inventory.</p> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"></p>
</us-gaap:ScheduleOfInventoryCurrentTableTextBlock>
<us-gaap:DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="margin: 0pt"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Prepaid expenses and other current assets at December 31, 2013 and 2012 were comprised of the following:</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>December 31,</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2013</b></p></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>December 31,</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2012</b></p></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 78%"><font style="font-size: 8pt">Advances to employees</font></td> <td style="width: 1%; text-align: right"> </td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 8%; text-align: right"><font style="font-size: 8pt">15,775</font></td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: right"> </td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 8%; text-align: right"><font style="font-size: 8pt"></font></td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font-size: 8pt">Advances to suppliers</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">66,649</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">41,055</font></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font-size: 8pt">Insurance premiums</font></td> <td style="text-align: right"> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">24,074</font></td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">16,994</font></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font-size: 8pt">Service agreements</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">16,000</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">15,000</font></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Other</font></td> <td style="padding-bottom: 1.5pt; text-align: right"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">16,731</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: right"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">5,431</font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font-size: 8pt">Total</font></td> <td style="text-align: right"> </td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">139,229</font></td> <td> </td> <td> </td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">78,480</font></td> <td> </td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="margin: 0pt"></p>
</us-gaap:DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureTextBlock>
<us-gaap:PropertyPlantAndEquipmentTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="margin: 0pt"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Property, plant and equipment at December 31, 2013 and 2012 is comprised of the following:</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr> <td style="vertical-align: bottom; padding-bottom: 1.5pt"> </td> <td style="vertical-align: bottom; padding-bottom: 1.5pt"> </td> <td colspan="10" style="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt"><b>December 31, 2013</b></font></td> <td style="vertical-align: bottom; padding-bottom: 1.5pt"> </td> <td style="vertical-align: top; padding-bottom: 1.5pt"> </td> <td colspan="10" style="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt"><b>December 31, 2012</b></font></td> <td style="vertical-align: bottom; padding-bottom: 1.5pt"> </td></tr> <tr> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td colspan="2" style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td colspan="2" style="vertical-align: bottom; text-align: center"><font style="font-size: 8pt"><b>Accumulated</b></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td colspan="2" style="vertical-align: bottom; text-align: center"><font style="font-size: 8pt"><b>Net book</b></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top"> </td> <td colspan="2" style="vertical-align: bottom"> </td> <td style="vertical-align: top"> </td> <td style="vertical-align: top"> </td> <td colspan="2" style="vertical-align: bottom; text-align: center"><font style="font-size: 8pt"><b>Accumulated</b></font></td> <td style="vertical-align: top"> </td> <td style="vertical-align: bottom"> </td> <td colspan="2" style="vertical-align: bottom; text-align: center"><font style="font-size: 8pt"><b>Net book</b></font></td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom; padding-bottom: 1.5pt"> </td> <td style="vertical-align: bottom; padding-bottom: 1.5pt"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt"><b>Cost</b></font></td> <td style="vertical-align: bottom; padding-bottom: 1.5pt"> </td> <td style="vertical-align: bottom; padding-bottom: 1.5pt"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt"><b>Depreciation</b></font></td> <td style="vertical-align: bottom; padding-bottom: 1.5pt"> </td> <td style="vertical-align: bottom; padding-bottom: 1.5pt"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt"><b>Value</b></font></td> <td style="vertical-align: bottom; padding-bottom: 1.5pt"> </td> <td style="vertical-align: top; padding-bottom: 1.5pt"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt"><b>Cost</b></font></td> <td style="vertical-align: top; padding-bottom: 1.5pt"> </td> <td style="vertical-align: top; padding-bottom: 1.5pt"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt"><b>Depreciation</b></font></td> <td style="vertical-align: top; padding-bottom: 1.5pt"> </td> <td style="vertical-align: bottom; padding-bottom: 1.5pt"> </td> <td colspan="2" style="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt"><b>Value</b></font></td> <td style="vertical-align: bottom; padding-bottom: 1.5pt"> </td></tr> <tr> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td colspan="2" style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td colspan="2" style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td colspan="2" style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top"> </td> <td colspan="2" style="vertical-align: bottom"> </td> <td style="vertical-align: top"> </td> <td style="vertical-align: top"> </td> <td colspan="2" style="vertical-align: bottom"> </td> <td style="vertical-align: top"> </td> <td style="vertical-align: bottom"> </td> <td colspan="2" style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: bottom; width: 28%; padding-bottom: 1.5pt"><font style="font-size: 8pt">Furniture and equipment</font></td> <td style="vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td> <td style="vertical-align: bottom; width: 1%; border-bottom: black 1.5pt solid"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: bottom; width: 9%; border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">7,108</font></td> <td style="vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td> <td style="vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td> <td style="vertical-align: bottom; width: 1%; border-bottom: black 1.5pt solid"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: bottom; width: 9%; border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(35</font></td> <td style="vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td> <td style="vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td> <td style="vertical-align: bottom; width: 1%; border-bottom: black 1.5pt solid"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: bottom; width: 9%; border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">7,073</font></td> <td style="vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td> <td style="vertical-align: top; width: 1%; padding-bottom: 1.5pt"> </td> <td style="vertical-align: bottom; width: 1%; border-bottom: black 1.5pt solid"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: bottom; width: 9%; border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td> <td style="vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td> <td style="vertical-align: bottom; width: 1%; border-bottom: black 1.5pt solid"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: bottom; width: 9%; border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td> <td style="vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td> <td style="vertical-align: bottom; width: 1%; border-bottom: black 1.5pt solid"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: bottom; width: 9%; border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td></tr> <tr style="background-color: white"> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: bottom; padding-bottom: 0.25pc"><font style="font-size: 8pt">Total</font></td> <td style="vertical-align: bottom; padding-bottom: 0.25pc"> </td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">7,108</font></td> <td style="vertical-align: bottom; padding-bottom: 0.25pc"> </td> <td style="vertical-align: bottom; padding-bottom: 0.25pc"> </td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">(35</font></td> <td style="vertical-align: bottom; padding-bottom: 0.25pc"><font style="font-size: 8pt">)</font></td> <td style="vertical-align: bottom; padding-bottom: 0.25pc"> </td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">7,073</font></td> <td style="vertical-align: bottom; padding-bottom: 0.25pc"> </td> <td style="vertical-align: top; padding-bottom: 0.25pc"> </td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom; padding-bottom: 0.25pc"> </td> <td style="vertical-align: bottom; padding-bottom: 0.25pc"> </td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom; padding-bottom: 0.25pc"> </td> <td style="vertical-align: bottom; padding-bottom: 0.25pc"> </td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom; padding-bottom: 0.25pc"> </td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"></p>
</us-gaap:PropertyPlantAndEquipmentTextBlock>
<us-gaap:ScheduleOfBusinessAcquisitionsByAcquisitionContingentConsiderationTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The following table summarizes the acquisition date fair value of the consideration transferred, identifiable assets acquired, liabilities assumed and non-controlling interests including an amount for goodwill:</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td><font style="font-size: 8pt"><b>Consideration:</b></font></td> <td> </td> <td colspan="2"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 89%"><font style="font-size: 8pt">Cash and cash equivalents</font></td> <td style="width: 1%; text-align: right"> </td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 8%; text-align: right"><font style="font-size: 8pt">520,000</font></td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Common stock, 255,356 shares of ForceField common stock (1)</font></td> <td style="padding-bottom: 1.5pt; text-align: right"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">965,226</font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font-size: 8pt">Fair value of consideration transferred</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">1,485,226</font></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Equity loss on investment in TransPacific Energy, Inc.</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(5,798</font></td> <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 0.25pc"><font style="font-size: 8pt">Fair value of total consideration </font></td> <td style="padding-bottom: 0.25pc"> </td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">1,479,428</font></td> <td style="padding-bottom: 0.25pc"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font-size: 8pt"><b>Recognized amount of identifiable assets acquired and liabilities assumed:</b></font></td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font-size: 8pt">Financial assets</font></td> <td style="text-align: right"> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">442,629</font></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font-size: 8pt">Identifiable intangible asset - technology</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">1,583,000</font></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font-size: 8pt">Financial liabilities</font></td> <td style="text-align: right"> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">(452,026</font></td> <td><font style="font-size: 8pt">)</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Deferred tax liability</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(645,009</font></td> <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font-size: 8pt">Total identifiable net assets</font></td> <td style="text-align: right"> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">928,594</font></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font-size: 8pt">Noncontrolling interest</font></td> <td style="text-align: right"> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">(792,000</font></td> <td><font style="font-size: 8pt">) </font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Goodwill</font></td> <td style="padding-bottom: 1.5pt; text-align: right"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">1,342,834</font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 0.25pc"> </td> <td style="padding-bottom: 0.25pc; text-align: right"> </td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">1,479,428</font></td> <td style="padding-bottom: 0.25pc"> </td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></p>
</us-gaap:ScheduleOfBusinessAcquisitionsByAcquisitionContingentConsiderationTextBlock>
<us-gaap:ScheduleOfGoodwillTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The carrying amount of goodwill at December 31, 2013 and 2012 was comprised of the following:</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: right"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>December 31,</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2013</b></p></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>December 31,</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2012</b></p></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 78%"><font style="font-size: 8pt">Goodwill – TransPacific Energy, Inc.</font></td> <td style="width: 1%"> </td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 8%; text-align: right"><font style="font-size: 8pt">1,342,834</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 8%; text-align: right"><font style="font-size: 8pt">1,342,834</font></td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Impairment charge</font></td> <td style="padding-bottom: 1.5pt; text-align: right"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(1,342,834</font></td> <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td> <td style="padding-bottom: 1.5pt; text-align: right"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt"></font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 0.25pc"><font style="font-size: 8pt">Goodwill, net at December 31, 2013</font></td> <td style="padding-bottom: 0.25pc; text-align: right"> </td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt"></font></td> <td style="padding-bottom: 0.25pc"> </td> <td style="padding-bottom: 0.25pc; text-align: right"> </td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">1,342,834</font></td> <td style="padding-bottom: 0.25pc"> </td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></p>
</us-gaap:ScheduleOfGoodwillTextBlock>
<us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseTableTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table provides information regarding estimated amortization expense for intangible assets subject to amortization for each of the following years ending December 31:</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 89%"><font style="font-size: 8pt">2014</font></td> <td style="width: 1%; text-align: right"> </td> <td style="width: 1%; text-align: right"><font style="font-size: 8pt">$</font></td> <td style="width: 8%; text-align: right"><font style="font-size: 8pt">261,533</font></td> <td style="width: 1%; text-align: right"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font-size: 8pt">2015</font></td> <td style="text-align: right"> </td> <td style="text-align: right"> </td> <td style="text-align: right"><font style="font-size: 8pt">261,533</font></td> <td style="text-align: right"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font-size: 8pt">2016</font></td> <td style="text-align: right"> </td> <td style="text-align: right"> </td> <td style="text-align: right"><font style="font-size: 8pt">261,534</font></td> <td style="text-align: right"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font-size: 8pt">2017</font></td> <td style="text-align: right"> </td> <td style="text-align: right"> </td> <td style="text-align: right"><font style="font-size: 8pt">209,533</font></td> <td style="text-align: right"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font-size: 8pt">2018</font></td> <td style="text-align: right"> </td> <td style="text-align: right"> </td> <td style="text-align: right"><font style="font-size: 8pt">105,533</font></td> <td style="text-align: right"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Thereafter</font></td> <td style="padding-bottom: 1.5pt; text-align: right"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">910,226</font></td> <td style="padding-bottom: 1.5pt; text-align: right"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 0.25pc; text-align: right"> </td> <td style="padding-bottom: 0.25pc; text-align: right"> </td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">2,009,892</font></td> <td style="padding-bottom: 0.25pc; text-align: right"> </td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></p>
</us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseTableTextBlock>
<us-gaap:ScheduleOfRelatedPartyTransactionsTableTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Related party receivables were comprised of the following at December 31, 2013 and 2012:</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>December 31,</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2013</b></p></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>December 31,</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2012</b></p></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font-size: 8pt">Minority shareholder (40%) of a noncontrolling interest — Wendeng He Xie Silicon Co., Ltd</font></td> <td style="text-align: right"> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt"></font></td> <td> </td> <td style="text-align: right"> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">150,000</font></td> <td> </td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"></p>
</us-gaap:ScheduleOfRelatedPartyTransactionsTableTextBlock>
<us-gaap:ScheduleOfOtherAssetsTableTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Other assets were comprised of the following at December 31, 2013 and 2012:</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>December 31,</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2013</b></p></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>December 31,</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2012</b></p></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 78%"><font style="font-size: 8pt">Deferred charges — Debt issue costs</font></td> <td style="width: 1%"> </td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 8%; text-align: right"><font style="font-size: 8pt">91,632</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 8%; text-align: right"><font style="font-size: 8pt"></font></td> <td style="width: 1%"> </td></tr> </table>
</us-gaap:ScheduleOfOtherAssetsTableTextBlock>
<us-gaap:ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="margin: 0pt"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Accounts payable were comprised of the following at December 31, 2013 and 2012:</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>December 31,</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2013</b></p></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>December 31,</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2012</b></p></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: bottom; width: 78%; padding-bottom: 1.5pt"><font style="font-size: 8pt">Accounts payable</font></td> <td style="vertical-align: bottom; width: 1%; padding-bottom: 1.5pt; text-align: right"> </td> <td style="vertical-align: bottom; width: 1%; border-bottom: black 1.5pt solid"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: bottom; width: 8%; border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">379,957</font></td> <td style="vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td> <td style="vertical-align: bottom; width: 1%; padding-bottom: 1.5pt; text-align: right"> </td> <td style="vertical-align: bottom; width: 1%; border-bottom: black 1.5pt solid"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: top; width: 8%; border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">232,435</font></td> <td style="vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td></tr> <tr style="background-color: white"> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top"> </td> <td style="vertical-align: bottom"> </td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 3pc"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Accrued liabilities were comprised of the following at December 31, 2013 and 2012:</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>December 31,</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2013</b></p></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>December 31,</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2012</b></p></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: bottom; width: 78%"><font style="font-size: 8pt">Board and executive compensation</font></td> <td style="vertical-align: top; width: 1%"> </td> <td style="vertical-align: top; width: 1%"> </td> <td style="vertical-align: top; width: 8%; text-align: right"><font style="font-size: 8pt">139,500</font></td> <td style="vertical-align: top; width: 1%"> </td> <td style="vertical-align: top; width: 1%"> </td> <td style="vertical-align: top; width: 1%"> </td> <td style="vertical-align: top; width: 8%; text-align: right"><font style="font-size: 8pt">25,500</font></td> <td style="vertical-align: top; width: 1%"> </td></tr> <tr style="background-color: white"> <td style="vertical-align: bottom"><font style="font-size: 8pt">Interest on convertible debentures</font></td> <td style="vertical-align: top"> </td> <td style="vertical-align: top"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">20,917</font></td> <td style="vertical-align: top"> </td> <td style="vertical-align: top"> </td> <td style="vertical-align: top"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">2,437</font></td> <td style="vertical-align: top"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: bottom"><font style="font-size: 8pt">Finder’s fees</font></td> <td style="vertical-align: top"> </td> <td style="vertical-align: top"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">95,900</font></td> <td style="vertical-align: top"> </td> <td style="vertical-align: top"> </td> <td style="vertical-align: top"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">3,000</font></td> <td style="vertical-align: top"> </td></tr> <tr style="background-color: white"> <td style="vertical-align: bottom"><font style="font-size: 8pt">Billings in excess of costs and earned income</font></td> <td style="vertical-align: top"> </td> <td style="vertical-align: top"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">197,200</font></td> <td style="vertical-align: top"> </td> <td style="vertical-align: top"> </td> <td style="vertical-align: top"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">257,500</font></td> <td style="vertical-align: top"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font-size: 8pt">Reserve for estimated losses on contracts in progress</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">13,987</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">126,079</font></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Other</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">4,259</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">16,156</font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top"> </td> <td style="vertical-align: top"> </td> <td style="vertical-align: top"> </td> <td style="vertical-align: top"> </td> <td style="vertical-align: top"> </td> <td style="vertical-align: top"> </td> <td style="vertical-align: top"> </td> <td style="vertical-align: top"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 0.25pc"><font style="font-size: 8pt">Total accrued liabilities</font></td> <td style="padding-bottom: 0.25pc; text-align: right"> </td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">472,763</font></td> <td style="padding-bottom: 0.25pc"> </td> <td style="padding-bottom: 0.25pc; text-align: right"> </td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">430,672</font></td> <td style="padding-bottom: 0.25pc"> </td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="margin: 0pt"></p>
</us-gaap:ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock>
<SSIE:RelatedPartyPayablesScheduleTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="margin: 0pt"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Related party payables were comprised of the following at December 31, 2013 and 2012:</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>December 31,</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2013</b></p></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>December 31,</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2012</b></p></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 78%; padding-bottom: 1.5pt"><font style="font-size: 8pt">Purchase consideration due to the minority shareholder(s) of a noncontrolling interest — Zibo Baokai Commerce & Trade Co., Ltd</font></td> <td style="width: 1%; padding-bottom: 1.5pt; text-align: right"> </td> <td style="width: 1%; border-bottom: black 1.5pt solid"><font style="font-size: 8pt">$</font></td> <td style="width: 8%; border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt"></font></td> <td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; padding-bottom: 1.5pt; text-align: right"> </td> <td style="width: 1%; border-bottom: black 1.5pt solid"><font style="font-size: 8pt">$</font></td> <td style="width: 8%; border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">163,647</font></td> <td style="width: 1%; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
</SSIE:RelatedPartyPayablesScheduleTextBlock>
<us-gaap:ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The following table sets forth the components of income tax expense (benefit) for the years ended December 31, 2013 and 2012.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>December 31,</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2013</b></p></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>December 31,</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2012</b></p></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="width: 78%"><font style="font-size: 8pt">Current:</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 8%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 8%"> </td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-indent: 0.75pc"><font style="font-size: 8pt">Federal</font></td> <td style="text-align: right"> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt"></font></td> <td> </td> <td style="text-align: right"> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt"></font></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="text-indent: 0.75pc"><font style="font-size: 8pt">State and local</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">5,136</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">49,004</font></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 1.5pt; text-indent: 0.75pc"><font style="font-size: 8pt">Foreign</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt"></font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt"></font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="text-indent: 1.5pc"><font style="font-size: 8pt">Total current</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">5,136</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">49,004</font></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font-size: 8pt">Deferred:</font></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="text-indent: 0.75pc"><font style="font-size: 8pt">Federal</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">(174,087</font></td> <td><font style="font-size: 8pt">)</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">(20,562</font></td> <td><font style="font-size: 8pt">)</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-indent: 0.75pc"><font style="font-size: 8pt">State and local</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">(28,580</font></td> <td><font style="font-size: 8pt">)</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">(3,376</font></td> <td><font style="font-size: 8pt">)</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 1.5pt; text-indent: 0.75pc"><font style="font-size: 8pt">Foreign</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt"></font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt"></font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 1.5pt; text-indent: 1.5pc"><font style="font-size: 8pt">Total deferred</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(202,667</font></td> <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(23,938</font></td> <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 0.25pc"><font style="font-size: 8pt">Total</font></td> <td style="padding-bottom: 0.25pc; text-align: right"> </td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">(197,531</font></td> <td style="padding-bottom: 0.25pc"><font style="font-size: 8pt">)</font></td> <td style="padding-bottom: 0.25pc; text-align: right"> </td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">25,066</font></td> <td style="padding-bottom: 0.25pc"> </td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"></p>
</us-gaap:ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock>
<us-gaap:ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table sets forth a reconciliation of income tax expense (benefit) at the federal statutory rate to recorded income tax expense (benefit) for the years ended December 31, 2013 and 2012.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>December 31,</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2013</b></p></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>December 31,</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2012</b></p></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 78%"><font style="font-size: 8pt">Federal statutory rate</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 8%; text-align: right"><font style="font-size: 8pt">35.00</font></td> <td style="width: 1%"><font style="font-size: 8pt"> %</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 8%; text-align: right"><font style="font-size: 8pt">35.00</font></td> <td style="width: 1%"><font style="font-size: 8pt"> %</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font-size: 8pt">State and local taxes</font></td> <td style="text-align: right"> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">5.84</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">5.12</font></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font-size: 8pt">Foreign rate differential</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">(0.74</font></td> <td><font style="font-size: 8pt">)</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">(2.20</font></td> <td><font style="font-size: 8pt">)</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font-size: 8pt">Change in valuation allowance</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">(26.20</font></td> <td><font style="font-size: 8pt">)</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">(38.03</font></td> <td><font style="font-size: 8pt">)</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font-size: 8pt">Permanent difference for the impairment of goodwill</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">(12.01</font></td> <td><font style="font-size: 8pt">)</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt"></font></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 1pt"><font style="font-size: 8pt">Other</font></td> <td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-size: 8pt">3.15</font></td> <td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-size: 8pt">(1.46</font></td> <td style="padding-bottom: 1pt"><font style="font-size: 8pt">) </font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 0.25pc; text-indent: 0.75pc"><font style="font-size: 8pt">Total</font></td> <td style="padding-bottom: 0.25pc; text-align: right"> </td> <td style="border-bottom: black 2.25pt double"> </td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">5.04</font></td> <td style="padding-bottom: 0.25pc"><font style="font-size: 8pt"> %</font></td> <td style="padding-bottom: 0.25pc"> </td> <td style="border-bottom: black 2.25pt double"> </td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">1.57</font></td> <td style="padding-bottom: 0.25pc"><font style="font-size: 8pt"> %</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"></p>
</us-gaap:ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock>
<us-gaap:ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">The following tables set forth the components of income taxes payable as of December 31, 2013 and 2012.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"></p> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td colspan="2" style="border-bottom: black 1.5pt solid"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31,</b></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2013</b></font></p></td> <td style="padding-bottom: 1.5pt; font-size: 12pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="padding-bottom: 1.5pt; font-size: 12pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td colspan="2" style="border-bottom: black 1.5pt solid"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31,</b></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2012</b></font></p></td> <td style="padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="vertical-align: bottom"> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td colspan="2"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td colspan="2"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 78%"><font style="font: 8pt Times New Roman, Times, Serif">Federal</font></td> <td style="width: 1%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 8%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"></font></td> <td style="width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="width: 1%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 8%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"></font></td> <td style="width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 8pt Times New Roman, Times, Serif">State and local</font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,974</font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">26,481</font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif">Foreign</font></td> <td style="padding-bottom: 1.5pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 1.5pt solid"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"></font></td> <td style="padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="padding-bottom: 1.5pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 1.5pt solid"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"></font></td> <td style="padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 0.25pc"><font style="font: 8pt Times New Roman, Times, Serif">    Total</font></td> <td style="padding-bottom: 0.25pc; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 2.25pt double"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,974</font></td> <td style="padding-bottom: 0.25pc"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="padding-bottom: 0.25pc; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 2.25pt double"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">26,481</font></td> <td style="padding-bottom: 0.25pc"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"></p>
</us-gaap:ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock>
<us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"> </p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font-size: 8pt"><b>December 31, 2013</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font-size: 8pt"><b>December 31, 2012</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 78%; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">Non-current deferred tax liabilities:</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 8%; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 8%; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 9pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">Intangible assets</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">(543,550</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">)</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">(613,298</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 9pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">Net operating loss carryforwards</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">2,879,096</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">1,720,632</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-bottom: 1pt; text-indent: 9pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">Less: valuation allowance</font></td> <td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"> </td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><font style="font-size: 10pt">(2,753,950</font></td> <td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"> </td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><font style="font-size: 10pt">(1,728,405</font></td> <td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-bottom: 1pt; text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">Total non-current deferred tax liability</font></td> <td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"> </td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><font style="font-size: 10pt">(418,404</font></td> <td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">)</font></td> <td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"> </td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><font style="font-size: 10pt">(621,071</font></td> <td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-bottom: 3pt; text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">Total deferred tax liability</font></td> <td style="padding-bottom: 3pt; text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 2.25pt double; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font-size: 10pt">(418,404</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">)</font></td> <td style="padding-bottom: 3pt; text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 2.25pt double; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font-size: 10pt">(621,071</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">)</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"></p>
</us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock>
<us-gaap:ScheduleOfDebtInstrumentsTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Debt was comprised of the following at December 31, 2013 and 2012:</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>December 31,</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2013</b></p></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>December 31,</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2012</b></p></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 78%"><font style="font-size: 8pt">7% Convertible debentures</font></td> <td style="width: 1%; text-align: right"> </td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 8%; text-align: right"><font style="font-size: 8pt">150,000</font></td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: right"> </td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 8%; text-align: right"><font style="font-size: 8pt"></font></td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font-size: 8pt">9% Convertible debentures</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">1,900,000</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">150,000</font></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 1pt"><font style="font-size: 8pt">Loan discounts</font></td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid"> </td> <td style="text-align: right; border-bottom: Black 1pt solid"><font style="font-size: 8pt">(264,132</font></td> <td style="padding-bottom: 1pt"><font style="font-size: 8pt">) </font></td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid"> </td> <td style="text-align: right; border-bottom: Black 1pt solid"><font style="font-size: 8pt"></font></td> <td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">     Total long term debt</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">1,785,868</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">150,000</font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Less: Current portion</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">100,000</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt"></font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 0.25pc"><font style="font-size: 8pt">     Long term debt</font></td> <td style="padding-bottom: 0.25pc; text-align: right"> </td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">1,685,868</font></td> <td style="padding-bottom: 0.25pc"> </td> <td style="padding-bottom: 0.25pc; text-align: right"> </td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">150,000</font></td> <td style="padding-bottom: 0.25pc"> </td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"></p>
</us-gaap:ScheduleOfDebtInstrumentsTextBlock>
<us-gaap:ScheduleOfDebtTableTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt"><b>Issue Date</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font-size: 8pt"><b>Interest Rate</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font-size: 8pt"><b>Face Value</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font-size: 8pt"><b>Maturity Date</b></font></td> <td style="font: 8pt Times New Roman, Times, Serif"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Conversion Rate of</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Face Value to Common Shares</b></p></td></tr> <tr style="vertical-align: bottom; background-color: white; font: 8pt Times New Roman, Times, Serif"> <td style="width: 22%; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">11/16/2012</font></td> <td style="width: 1%; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 22%; padding-bottom: 1.5pt; text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">9%</font></td> <td style="width: 1%; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 10%; border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font-size: 10pt">50,000</font></td> <td style="width: 1%; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 21%; padding-bottom: 1.5pt; text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">11/16/2015</font></td> <td style="width: 21%; padding-bottom: 1.5pt; text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">20.0%</font></td></tr> <tr style="background-color: white; font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: bottom; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">02/11/2013</font></td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">9%</font></td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font-size: 10pt">50,000   </font></td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">02/11/2016</font></td> <td style="vertical-align: top; padding-bottom: 1.5pt; text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">20.0%</font></td></tr> <tr style="background-color: white; font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: bottom; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">08/01/2013                                              </font></td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">9%</font></td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font-size: 10pt">100,000</font></td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">08/01/2016</font></td> <td style="vertical-align: top; padding-bottom: 1.5pt; text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">20.0%</font></td></tr> <tr style="background-color: white; font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: bottom; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">09/23/2013</font></td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">9%</font></td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font-size: 10pt">50,000</font></td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">09/23/2016</font></td> <td style="vertical-align: top; padding-bottom: 1.5pt; text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">20.0%</font></td></tr> <tr style="background-color: white; font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: bottom; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">10/22/2013</font></td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">9%</font></td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font-size: 10pt">50,000</font></td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">10/22/2016</font></td> <td style="vertical-align: top; padding-bottom: 1.5pt; text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">20.0%</font></td></tr> <tr style="background-color: white; font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: bottom; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">11/04/2013</font></td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">9%</font></td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font-size: 10pt">500,000</font></td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">11/04/2016</font></td> <td style="vertical-align: top; padding-bottom: 1.5pt; text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">20.0%</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font: 8pt Times New Roman, Times, Serif"> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">12/06/2013</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="padding-bottom: 1.5pt; text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">7%</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font-size: 10pt">50,000</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="padding-bottom: 1.5pt; text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">12/06/2016</font></td> <td style="padding-bottom: 1.5pt; text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">14.3%</font></td></tr> <tr style="background-color: white; font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: bottom; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">12/16/2013</font></td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">9%</font></td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font-size: 10pt">250,000</font></td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">12/16/2016</font></td> <td style="vertical-align: top; padding-bottom: 1.5pt; text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">20.0%</font></td></tr> <tr style="background-color: white; font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: bottom; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">12/26/2013</font></td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">9%</font></td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font-size: 10pt">750,000</font></td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">12/26/2016</font></td> <td style="vertical-align: top; padding-bottom: 1.5pt; text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">20.0%</font></td></tr> <tr style="background-color: white; font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: bottom; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">12/27/2013</font></td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">7%</font></td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font-size: 10pt">50,000</font></td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">12/27/2016</font></td> <td style="vertical-align: top; padding-bottom: 1.5pt; text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">14.3%</font></td></tr> <tr style="background-color: white; font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: bottom; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">12/27/2013</font></td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">7%</font></td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font-size: 10pt">50,000</font></td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">12/27/2016</font></td> <td style="vertical-align: top; padding-bottom: 1.5pt; text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">14.3%</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"></p>
</us-gaap:ScheduleOfDebtTableTextBlock>
<SSIE:OutstandingAndExercisableWarrantsTableTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The following table reflects all outstanding and exercisable stock purchase warrants for the periods ended December 31, 2012 and December 31, 2013: </font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"></p> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td colspan="2" style="border-bottom: black 1.5pt solid"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Number of</b></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Warrants</b></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Outstanding</b></font></p></td> <td style="padding-bottom: 1.5pt; font-size: 12pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="padding-bottom: 1.5pt; font-size: 12pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td colspan="2" style="border-bottom: black 1.5pt solid"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Weighted Average</b></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Exercise Price</b></font></p></td> <td style="padding-bottom: 1.5pt; font-size: 12pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="padding-bottom: 1.5pt; font-size: 12pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td colspan="2" style="border-bottom: black 1.5pt solid"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Remaining</b></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Contractual</b></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Life (Years)</b></font></p></td> <td style="padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 67%"><font style="font: 8pt Times New Roman, Times, Serif">Balance, December 31, 2011</font></td> <td style="width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="width: 8%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"></font></td> <td style="width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 8%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"></font></td> <td style="width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="width: 8%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"></font></td> <td style="width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 8pt Times New Roman, Times, Serif">Warrants issued</font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">562,750</font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">4.00</font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">0.71</font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 8pt Times New Roman, Times, Serif">Warrants exercised</font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"></font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"></font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"></font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 8pt Times New Roman, Times, Serif">Warrants forfeited</font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"></font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"></font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"></font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 8pt Times New Roman, Times, Serif">Balance, December 31, 2012</font></td> <td style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">562,750</font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">4.00</font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">0.71</font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 8pt Times New Roman, Times, Serif">Warrants issued</font></td> <td style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">842,750</font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">4.00</font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">0.79</font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 8pt Times New Roman, Times, Serif">Warrants exercised</font></td> <td style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(93,750</font></td> <td><font style="font: 8pt Times New Roman, Times, Serif">) </font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">4.00</font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"></font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif">Warrants forfeited</font></td> <td style="padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 1.5pt solid"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(481,500</font></td> <td style="padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 1.5pt solid"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">4.00</font></td> <td style="padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 1.5pt solid"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"></font></td> <td style="padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 0.25pc"><font style="font: 8pt Times New Roman, Times, Serif">Balance December 31, 2013</font></td> <td style="padding-bottom: 0.25pc; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 2.25pt double"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">830,250</font></td> <td style="padding-bottom: 0.25pc"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="padding-bottom: 0.25pc"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 2.25pt double"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">4.00</font></td> <td style="padding-bottom: 0.25pc"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="padding-bottom: 0.25pc"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 2.25pt double"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">0.80</font></td> <td style="padding-bottom: 0.25pc"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"></p>
</SSIE:OutstandingAndExercisableWarrantsTableTextBlock>
<us-gaap:ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">The value of the stock purchase warrants was determined using the following Black-Scholes methodology:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td colspan="6" style="border-bottom: black 1.5pt solid; font-size: 12pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>For the Years Ended</b></font></td> <td style="padding-bottom: 1.5pt; font-size: 12pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-size: 12pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="padding-bottom: 1.5pt; font-size: 12pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td colspan="2" style="border-bottom: black 1.5pt solid"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31,</b></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2013</b></font></p></td> <td style="padding-bottom: 1.5pt; font-size: 12pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="padding-bottom: 1.5pt; font-size: 12pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td colspan="2" style="border-bottom: black 1.5pt solid"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31,</b></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2012</b></font></p></td> <td style="padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="vertical-align: bottom"> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td colspan="2"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td colspan="2"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: bottom; width: 78%"><font style="font: 8pt Times New Roman, Times, Serif">Expected dividend yield (1) </font></td> <td style="vertical-align: bottom; width: 1%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="vertical-align: bottom; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="vertical-align: top; width: 8%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">0.00</font></td> <td style="vertical-align: top; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">%</font></td> <td style="vertical-align: bottom; width: 1%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="vertical-align: bottom; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="vertical-align: top; width: 8%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">0.00</font></td> <td style="vertical-align: top; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">%</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">Risk-free interest rate (2)</font></td> <td style="vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="vertical-align: top; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">0.09 – 0.15</font></td> <td style="vertical-align: top"><font style="font: 8pt Times New Roman, Times, Serif">%</font></td> <td style="vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="vertical-align: top; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">0.16 – 0.21</font></td> <td style="vertical-align: top"><font style="font: 8pt Times New Roman, Times, Serif">%</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">Expected volatility (3)</font></td> <td style="vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="vertical-align: top; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">16.69 – 145.28</font></td> <td style="vertical-align: top"><font style="font: 8pt Times New Roman, Times, Serif">%</font></td> <td style="vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="vertical-align: top; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">111.94 – 152.31%</font></td> <td style="vertical-align: top"><font style="font: 8pt Times New Roman, Times, Serif">%</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">Expected life (in years)</font></td> <td style="vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="vertical-align: top; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1.00</font></td> <td style="vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="vertical-align: top; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1.00</font></td> <td style="vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"></p>
</us-gaap:ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock>
<us-gaap:ScheduleOfSegmentReportingInformationBySegmentTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The following table sets forth operations by segment for the years ended December 31, 2012 and 2011:</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt"><b>ORC</b></font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt"><b>LED</b></font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt"><b>Corporate</b></font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt"><b>Consolidated</b></font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="width: 52%"><font style="font-size: 8pt">Sales:</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 9%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 9%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 9%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 9%"> </td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-indent: 1.5pc"><font style="font-size: 8pt">2013</font></td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">236,672</font></td> <td> </td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">106,964</font></td> <td> </td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt"></font></td> <td> </td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">343,636</font></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="text-indent: 1.5pc"><font style="font-size: 8pt">2012</font></td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">240,238</font></td> <td> </td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt"></font></td> <td> </td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt"></font></td> <td> </td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">240,238</font></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font-size: 8pt">Cost of goods sold:</font></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="text-indent: 1.5pc"><font style="font-size: 8pt">2013</font></td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">210,992</font></td> <td> </td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">62,018</font></td> <td> </td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt"></font></td> <td> </td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">273,010</font></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-indent: 1.5pc"><font style="font-size: 8pt">2012</font></td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">240,238</font></td> <td> </td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt"></font></td> <td> </td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt"></font></td> <td> </td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">240,238</font></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font-size: 8pt">Gross margin:</font></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-indent: 1.5pc"><font style="font-size: 8pt">2013</font></td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">25,680</font></td> <td> </td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">44,946</font></td> <td> </td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt"></font></td> <td> </td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">70,626</font></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="text-indent: 1.5pc"><font style="font-size: 8pt">2012</font></td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt"></font></td> <td> </td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt"></font></td> <td> </td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt"></font></td> <td> </td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt"></font></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font-size: 8pt">Operating expenses:</font></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="text-indent: 1.5pc"><font style="font-size: 8pt">2013 (1)</font></td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">1,498,639</font></td> <td> </td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">536,280</font></td> <td> </td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">1,992,517</font></td> <td> </td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">4,027,436</font></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-indent: 1.5pc"><font style="font-size: 8pt">2012</font></td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">57,950</font></td> <td> </td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">148,626</font></td> <td> </td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">1,325,312</font></td> <td> </td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">1,531,888</font></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font-size: 8pt">Other income (expense):</font></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-indent: 1.5pc"><font style="font-size: 8pt">2013</font></td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">203</font></td> <td> </td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">4</font></td> <td> </td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">40,514</font></td> <td> </td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">40,721</font></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="text-indent: 1.5pc"><font style="font-size: 8pt">2012</font></td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt"></font></td> <td> </td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt"></font></td> <td> </td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">(19,010</font></td> <td><font style="font-size: 8pt">) </font></td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">(19,010</font></td> <td><font style="font-size: 8pt">) </font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font-size: 8pt">Provision for income taxes:</font></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="text-indent: 1.5pc"><font style="font-size: 8pt">2013</font></td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">(201,867</font></td> <td><font style="font-size: 8pt">) </font></td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt"></font></td> <td> </td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">4,336</font></td> <td> </td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">(197,531</font></td> <td><font style="font-size: 8pt">)</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-indent: 1.5pc"><font style="font-size: 8pt">2012</font></td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">(23,138</font></td> <td><font style="font-size: 8pt">) </font></td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt"></font></td> <td> </td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">48,204</font></td> <td> </td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">25,066</font></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font-size: 8pt">Net income (loss):</font></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-indent: 1.5pc"><font style="font-size: 8pt">2013</font></td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">(1,270,889</font></td> <td><font style="font-size: 8pt">) </font></td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">(491,330</font></td> <td><font style="font-size: 8pt">) </font></td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">(1,956,339</font></td> <td><font style="font-size: 8pt">) </font></td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">(3,718,558</font></td> <td><font style="font-size: 8pt">)</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="text-indent: 1.5pc"><font style="font-size: 8pt">2012</font></td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">(34,812</font></td> <td><font style="font-size: 8pt">) </font></td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">(148,626</font></td> <td><font style="font-size: 8pt">) </font></td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">(1,392,526</font></td> <td><font style="font-size: 8pt">) </font></td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">(1,575,964</font></td> <td><font style="font-size: 8pt">)</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"></p>
</us-gaap:ScheduleOfSegmentReportingInformationBySegmentTextBlock>
<us-gaap:ScheduleOfIndefiniteLivedIntangibleAssetsTableTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The following table sets forth the total assets by segment at December 31, 2013 and 2012:</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt"><b>ORC</b></font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt"><b>LED</b></font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt"><b>Corporate</b></font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt"><b>Consolidated</b></font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="width: 52%"><font style="font-size: 8pt">Total assets:</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 9%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 9%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 9%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 9%"> </td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-indent: 0.25in"><font style="font-size: 8pt">2013</font></td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">1,903,094</font></td> <td> </td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">712,806</font></td> <td> </td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">3,618,991</font></td> <td> </td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">6,234,890</font></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="text-indent: 0.25in"><font style="font-size: 8pt">2012</font></td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">3,370,300</font></td> <td> </td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">769,056</font></td> <td> </td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">461,781</font></td> <td> </td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">4,601,137</font></td> <td> </td></tr> </table>
</us-gaap:ScheduleOfIndefiniteLivedIntangibleAssetsTableTextBlock>
<SSIE:GoodwillIntangibleLongLivedAssetsSegmentScheduleTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The following table sets forth the carrying amount of goodwill by segment at December 31, 2013 and 2012:</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt"><b>ORC</b></font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt"><b>LED</b></font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt"><b>Corporate</b></font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt"><b>Consolidated</b></font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="width: 52%"><font style="font-size: 8pt">Goodwill:</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 9%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 9%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 9%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 9%"> </td> <td style="width: 1%"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: bottom; text-indent: 0.25in"><font style="font-size: 8pt">2013</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td></tr> <tr style="background-color: white"> <td style="vertical-align: bottom; text-indent: 0.25in"><font style="font-size: 8pt">2012</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt">1,342,834</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt">1,342,834</font></td> <td style="vertical-align: bottom"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font-size: 8pt">Intangible assets:</font></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr style="background-color: white"> <td style="vertical-align: bottom; text-indent: 0.25in"><font style="font-size: 8pt">2013</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">1,437,892</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt">572,000</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt">2,009,892</font></td> <td style="vertical-align: bottom"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: bottom; text-indent: 0.25in"><font style="font-size: 8pt">2012</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">1,543,425</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt">728,000</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt">2,271,425</font></td> <td style="vertical-align: bottom"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font-size: 8pt">Property, plant and equipment:</font></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: bottom; text-indent: 0.25in"><font style="font-size: 8pt">2013</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">7,073</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">7,073</font></td> <td style="vertical-align: bottom"> </td></tr> <tr style="background-color: white"> <td style="vertical-align: bottom; text-indent: 0.25in"><font style="font-size: 8pt">2012</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td></tr> </table>
</SSIE:GoodwillIntangibleLongLivedAssetsSegmentScheduleTextBlock>
<us-gaap:AccountsReceivableGross contextRef="AsOf2013-12-31" unitRef="USD" decimals="0"> 262744 </us-gaap:AccountsReceivableGross>
<us-gaap:AccountsReceivableGross contextRef="AsOf2012-12-31" unitRef="USD" decimals="0"> 309000 </us-gaap:AccountsReceivableGross>
<us-gaap:AccountsReceivableUnapprovedContractClaimsAmountExpectedToBeCollectedWithinOneYear contextRef="AsOf2013-12-31" unitRef="USD" decimals="0"> 37806 </us-gaap:AccountsReceivableUnapprovedContractClaimsAmountExpectedToBeCollectedWithinOneYear>
<us-gaap:AccountsReceivableUnapprovedContractClaimsAmountExpectedToBeCollectedWithinOneYear contextRef="AsOf2012-12-31" unitRef="USD" decimals="0"> 26168 </us-gaap:AccountsReceivableUnapprovedContractClaimsAmountExpectedToBeCollectedWithinOneYear>
<us-gaap:CostsInExcessOfBillingsOnUncompletedContractsOrPrograms contextRef="AsOf2013-12-31" unitRef="USD" decimals="0"> -23554 </us-gaap:CostsInExcessOfBillingsOnUncompletedContractsOrPrograms>
<us-gaap:CostsInExcessOfBillingsOnUncompletedContractsOrPrograms contextRef="AsOf2012-12-31" unitRef="USD" decimals="0"> -51500 </us-gaap:CostsInExcessOfBillingsOnUncompletedContractsOrPrograms>
<us-gaap:AllowanceForDoubtfulAccountsReceivable contextRef="AsOf2013-12-31" unitRef="USD" xsi:nil="true"/>
<us-gaap:AllowanceForDoubtfulAccountsReceivable contextRef="AsOf2012-12-31" unitRef="USD" xsi:nil="true"/>
<us-gaap:AccountsReceivableNet contextRef="AsOf2013-12-31" unitRef="USD" decimals="0"> 276996 </us-gaap:AccountsReceivableNet>
<us-gaap:AccountsReceivableNet contextRef="AsOf2012-12-31" unitRef="USD" decimals="0"> 283668 </us-gaap:AccountsReceivableNet>
<SSIE:EntityWideTotalAccountsReceivableMajorCustomerPercentage contextRef="AsOf2013-12-31" unitRef="Pure" decimals="INF"> 0.35 </SSIE:EntityWideTotalAccountsReceivableMajorCustomerPercentage>
<SSIE:EntityWideTotalAccountsReceivableMajorCustomerPercentage contextRef="AsOf2012-12-31" unitRef="Pure" decimals="INF"> 0.33 </SSIE:EntityWideTotalAccountsReceivableMajorCustomerPercentage>
<SSIE:EntityWideTotalAccountsReceivableMajorCustomerPercentage contextRef="AsOf2013-12-31_CustomerOneMember" unitRef="Pure" decimals="INF"> 0.86 </SSIE:EntityWideTotalAccountsReceivableMajorCustomerPercentage>
<SSIE:EntityWideTotalAccountsReceivableMajorCustomerPercentage contextRef="AsOf2012-12-31_CustomerOneMember" unitRef="Pure" decimals="INF"> 0.83 </SSIE:EntityWideTotalAccountsReceivableMajorCustomerPercentage>
<us-gaap:InventoryRawMaterials contextRef="AsOf2013-12-31" unitRef="USD" xsi:nil="true"/>
<us-gaap:InventoryRawMaterials contextRef="AsOf2012-12-31" unitRef="USD" xsi:nil="true"/>
<us-gaap:InventoryFinishedGoods contextRef="AsOf2013-12-31" unitRef="USD" decimals="0"> 28944 </us-gaap:InventoryFinishedGoods>
<us-gaap:InventoryFinishedGoods contextRef="AsOf2012-12-31" unitRef="USD" xsi:nil="true"/>
<SSIE:ProvisionForExcessOrObsoleteInventory contextRef="AsOf2013-12-31" unitRef="USD" decimals="0"> 0 </SSIE:ProvisionForExcessOrObsoleteInventory>
<SSIE:AdvancesToEmployees contextRef="AsOf2013-12-31" unitRef="USD" decimals="0"> 15775 </SSIE:AdvancesToEmployees>
<SSIE:AdvancesToEmployees contextRef="AsOf2012-12-31" unitRef="USD" xsi:nil="true"/>
<us-gaap:RetainageDeposit contextRef="AsOf2013-12-31" unitRef="USD" decimals="0"> 66649 </us-gaap:RetainageDeposit>
<us-gaap:RetainageDeposit contextRef="AsOf2012-12-31" unitRef="USD" decimals="0"> 41055 </us-gaap:RetainageDeposit>
<SSIE:InsurancePremiums contextRef="AsOf2013-12-31" unitRef="USD" decimals="0"> 24074 </SSIE:InsurancePremiums>
<SSIE:InsurancePremiums contextRef="AsOf2012-12-31" unitRef="USD" decimals="0"> 16994 </SSIE:InsurancePremiums>
<SSIE:ServiceAgreements contextRef="AsOf2013-12-31" unitRef="USD" decimals="0"> 16000 </SSIE:ServiceAgreements>
<SSIE:ServiceAgreements contextRef="AsOf2012-12-31" unitRef="USD" decimals="0"> 15000 </SSIE:ServiceAgreements>
<us-gaap:OtherAssetsCurrent contextRef="AsOf2013-12-31" unitRef="USD" decimals="0"> 16731 </us-gaap:OtherAssetsCurrent>
<us-gaap:OtherAssetsCurrent contextRef="AsOf2012-12-31" unitRef="USD" decimals="0"> 5431 </us-gaap:OtherAssetsCurrent>
<us-gaap:Depreciation contextRef="From2013-01-01to2013-12-31" unitRef="USD" decimals="0"> 35 </us-gaap:Depreciation>
<us-gaap:Depreciation contextRef="From2012-01-01to2012-12-31" unitRef="USD" decimals="0"> 0 </us-gaap:Depreciation>
<SSIE:CashAndCashEquivalents contextRef="AsOf2013-12-31" unitRef="USD" decimals="0"> 520000 </SSIE:CashAndCashEquivalents>
<SSIE:BusinessAcquisitionContingentConsiderationCommonStockIssued contextRef="AsOf2013-12-31" unitRef="Shares" decimals="INF"> 965226 </SSIE:BusinessAcquisitionContingentConsiderationCommonStockIssued>
<SSIE:FairValueOfTotalConsiderationTransferred contextRef="AsOf2013-12-31" unitRef="USD" decimals="0"> 1485226 </SSIE:FairValueOfTotalConsiderationTransferred>
<SSIE:EquityShareInTpesOperatingLoss contextRef="AsOf2013-12-31" unitRef="USD" decimals="0"> -5798 </SSIE:EquityShareInTpesOperatingLoss>
<SSIE:TotalInvestmentInSubsidiary contextRef="AsOf2013-12-31" unitRef="USD" decimals="0"> 1479428 </SSIE:TotalInvestmentInSubsidiary>
<us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedFinancialAssets contextRef="AsOf2013-12-31" unitRef="USD" decimals="0"> 442629 </us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedFinancialAssets>
<SSIE:IdentifiableIntangibleAssetTechnology contextRef="AsOf2013-12-31" unitRef="USD" decimals="0"> 1583000 </SSIE:IdentifiableIntangibleAssetTechnology>
<us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedFinancialLiabilities contextRef="AsOf2013-12-31" unitRef="USD" decimals="0"> -452026 </us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedFinancialLiabilities>
<SSIE:DeferredTaxLiability contextRef="AsOf2013-12-31" unitRef="USD" decimals="0"> -645009 </SSIE:DeferredTaxLiability>
<us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet contextRef="AsOf2013-12-31" unitRef="USD" decimals="0"> 928594 </us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet>
<us-gaap:BusinessCombinationAcquisitionOfLessThan100PercentNoncontrollingInterestFairValue contextRef="AsOf2013-12-31" unitRef="USD" decimals="0"> -792000 </us-gaap:BusinessCombinationAcquisitionOfLessThan100PercentNoncontrollingInterestFairValue>
<us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet contextRef="AsOf2013-12-31" unitRef="USD" decimals="0"> 1342834 </us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet>
<us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedLessNoncontrollingInterest contextRef="AsOf2013-12-31" unitRef="USD" decimals="0"> 1479428 </us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedLessNoncontrollingInterest>
<SSIE:PercentageOfAcquisitionOfEquity contextRef="From2013-01-01to2013-12-31" unitRef="Pure" decimals="INF"> 0.503 </SSIE:PercentageOfAcquisitionOfEquity>
<us-gaap:EquityMethodInvestmentRealizedGainLossOnDisposal contextRef="From2012-01-01to2012-12-31" unitRef="USD" decimals="0"> 5798 </us-gaap:EquityMethodInvestmentRealizedGainLossOnDisposal>
<SSIE:GoodwillGross1 contextRef="AsOf2013-12-31" unitRef="USD" decimals="0"> 1342834 </SSIE:GoodwillGross1>
<SSIE:GoodwillGross1 contextRef="AsOf2012-12-31" unitRef="USD" decimals="0"> 1342834 </SSIE:GoodwillGross1>
<SSIE:ImpairmentOfLongLivedAssetsToBeDisposed contextRef="AsOf2013-12-31" unitRef="USD" decimals="0"> -1342834 </SSIE:ImpairmentOfLongLivedAssetsToBeDisposed>
<SSIE:ImpairmentOfLongLivedAssetsToBeDisposed contextRef="AsOf2012-12-31" unitRef="USD" xsi:nil="true"/>
<SSIE:ExclusiveDistributionRights contextRef="AsOf2013-12-31_NetBookValueMember" unitRef="USD" decimals="0"> 572000 </SSIE:ExclusiveDistributionRights>
<SSIE:ExclusiveDistributionRights contextRef="AsOf2013-12-31_GrossCarryingAmountMember" unitRef="USD" decimals="0"> 780000 </SSIE:ExclusiveDistributionRights>
<SSIE:ExclusiveDistributionRights contextRef="AsOf2012-12-31_GrossCarryingAmountMember" unitRef="USD" decimals="0"> 780000 </SSIE:ExclusiveDistributionRights>
<SSIE:ExclusiveDistributionRights contextRef="AsOf2013-12-31_AccumulatedAmortizationMember" unitRef="USD" decimals="0"> -208000 </SSIE:ExclusiveDistributionRights>
<SSIE:ExclusiveDistributionRights contextRef="AsOf2012-12-31_AccumulatedAmortizationMember" unitRef="USD" decimals="0"> -52000 </SSIE:ExclusiveDistributionRights>
<SSIE:ExclusiveDistributionRights contextRef="AsOf2012-12-31_NetBookValueMember13068875" unitRef="USD" decimals="0"> 728000 </SSIE:ExclusiveDistributionRights>
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<p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">Certain prior year amounts have been reclassified to conform to the current period presentation. These reclassifications had no impact on net earnings and financial position.</p>
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<us-gaap:EarningsPerSharePolicyTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">The Company computes net income (loss) per share in accordance with ASC 260,<i> “Earnings per Share”</i>. ASC 260 requires presentation of both basic and diluted earnings per share (EPS) on the face of the income statement. Basic EPS is computed by dividing net income (loss) available to common stockholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">For the periods presented, the computation of diluted loss per share equaled basic loss per share as the inclusion of any dilutive instruments would have had an antidilutive effect on the earnings per share calculation in the periods presented.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"></p>
</us-gaap:EarningsPerSharePolicyTextBlock>
<us-gaap:IncomeTaxPolicyTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">The Company accounts for income taxes under FASB ASC 740,<i> “Accounting for Income Taxes”</i>. Under FASB ASC 740, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under FASB ASC 740, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. FASB ASC 740-10-05,<i> “Accounting for Uncertainty in Income Taxes”</i> prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">The amount recognized is measured as the largest amount of benefit that is greater than 50 percent likely of being realized upon ultimate settlement. We assess the validity of our conclusions regarding uncertain tax positions on a quarterly basis to determine if facts or circumstances have arisen that might cause us to change our judgment regarding the likelihood of a tax position’s sustainability under <font style="background-color: white">audit.</font></p>
</us-gaap:IncomeTaxPolicyTextBlock>
<us-gaap:DepreciationDepletionAndAmortizationPolicyTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">The Company reviews long-lived assets and certain identifiable intangibles held and used for possible impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. In evaluating the fair value and future benefits of its long-lived assets, management performs an analysis of the anticipated undiscounted future net cash flows of the individual assets over the remaining depreciation or amortization period. The Company recognizes an impairment loss if the carrying value of the asset exceeds the expected future cash flows.</p>
</us-gaap:DepreciationDepletionAndAmortizationPolicyTextBlock>
<us-gaap:GoodwillAndIntangibleAssetsIntangibleAssetsPolicy contextRef="From2013-01-01to2013-12-31">
<p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">All land in the PRC is owned by the PRC government. The government in the PRC, according to the relevant PRC law, may sell the right to use the land for a specified period of time. Land use rights are stated at cost less accumulated amortization. Amortization is provided using the straight-line method over the terms of 50 years. The lease term is obtained from the relevant Chinese land authority.</p>
</us-gaap:GoodwillAndIntangibleAssetsIntangibleAssetsPolicy>
<us-gaap:CashAndCashEquivalentsPolicyTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="margin: 0pt"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">The Company considers all highly liquid investments with a maturity of three months or less at the date of purchase to be cash equivalents. Cash and cash equivalents are stated at cost and consist solely of bank deposits held in the United States, Costa Rica, Hong Kong and China. The carrying amount of cash and cash equivalents approximates fair value.</p> <p style="margin: 0pt"></p>
</us-gaap:CashAndCashEquivalentsPolicyTextBlock>
<us-gaap:UseOfEstimates contextRef="From2013-01-01to2013-12-31">
<p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">The preparation of consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company continually evaluates its estimates, including but not limited to the allowance for doubtful accounts, the useful lives and impairment for property, plant and equipment, goodwill and acquired intangible assets, write-down in value of inventory and deferred income taxes. The Company bases its estimates on historical experience, known or expected trends and various other assumptions that are believed to be reasonable given the quality of information available as of the date of these financial statements. The results of these assumptions provide the basis for making estimates about the carrying amounts of assets and liabilities that are not readily apparent from other sources. Actual results could differ from these estimates.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">The Company believes that the following critical accounting policies govern its more significant judgments and estimates used in the preparation of its consolidated financial statements:</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p>
</us-gaap:UseOfEstimates>
<us-gaap:OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">The consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States (“US GAAP”) and are expressed in United States dollars. The consolidated financial statements include the accounts of the Company; its wholly-owned subsidiaries SunSi Energies Hong Kong Limited (“SunSi HK”), ForceField Energy USA Inc. (“FNRG USA”), and ForceField Energy SA (“FNRG SA”), formed in March 2013 and located in Costa Rica; the Company’s 50.3% owned subsidiary TransPacific Energy, Inc. (“TPE”); SunSi HK's 90% owned subsidiary Zibo Baokai Commerce and Trade Co. Ltd. (“Baokai”); SunSi HK's 60% owned subsidiary Wendeng He Xie Silicon Industry Co., Ltd. (“Wendeng”). All intercompany accounts and transactions are eliminated in consolidation.</p>
</us-gaap:OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlock>
<SSIE:AssetsHeldForSale contextRef="From2013-01-01to2013-12-31">
<p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">For the business where management has committed to a plan to divest, which is typically demonstrated by approval from the Board of Directors, the business is valued at the lower of its carrying amount or estimated fair value less cost to sell. If the carrying amount of the business exceeds its estimated fair value, an impairment loss is recognized. Upon designation as an asset held for sale, the Company ceased depreciation. The assets and liabilities as of December 31, 2012 related to Baokai and Wendeng segments have been reclassified as “assets and liabilities of discontinued operations held for sale” to conform to the presentation of the current period for the comparative purposes.</p>
</SSIE:AssetsHeldForSale>
<us-gaap:FairValueMeasurementPolicyPolicyTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">Fair value is the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Company considers the principal or most advantageous market in which it would transact and it considers assumptions that market participants would use when pricing the asset or liability.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">Authoritative literature provides a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement as follows:</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">Level 2 applies to assets or liabilities for which there are inputs other than quoted prices included within Level 1 that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.</p>
</us-gaap:FairValueMeasurementPolicyPolicyTextBlock>
<us-gaap:RelatedPartyTransactionsDisclosureTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="margin: 0pt"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">Related party receivables were comprised of the following at December 31, 2013 and 2012:</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <table cellspacing="0" cellpadding="0" style="font: 8pt Calibri, Helvetica, Sans-Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31, 2013</b></font></td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31, 2012</b></font></td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="line-height: 115%"> </td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 115%; font-size: 11pt"><font style="font: 10pt Times New Roman, Times, Serif">Minority shareholder (40%) of noncontrolling interest — Wendeng</font></td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%; font-size: 11pt"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; line-height: 115%; font-size: 11pt"><font style="font: 10pt Times New Roman, Times, Serif"></font></td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%; font-size: 11pt"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; line-height: 115%; font-size: 11pt"><font style="font: 10pt Times New Roman, Times, Serif">150,000</font></td> <td style="line-height: 115%"> </td></tr> <tr> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Related party receivables represented amounts due from the minority shareholder of Wendeng, a business segment included in discontinued operations. These advances were made to the minority shareholder for funds to be spent in Wendeng’s production expansion. The Company recorded a full reserve against these amounts by recording a charge to bad debt expense as of December 31, 2013.</p> <p style="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt"> </p> <p style="margin: 0pt"></p>
</us-gaap:RelatedPartyTransactionsDisclosureTextBlock>
<us-gaap:OtherAssetsDisclosureTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Other assets were comprised of the following at December 31, 2013 and 2012:</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font-size: 8pt"><b>December 31, 2013</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font-size: 8pt"><b>December 31, 2012</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">Deferred financing costs, net of accumulated amortization — Debt issue costs</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">91,632</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt"></font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">ForceField has entered into an engagement agreement with a consultant for advisory and consulting services on a non-exclusive basis to obtain debt capital. Deferred financing costs represent finder’s fees paid to this consultant for a rate of five percent (5%) of the gross proceeds received by the Company. These amounts will be amortized over the three year term of the convertible debentures.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"></p>
</us-gaap:OtherAssetsDisclosureTextBlock>
<SSIE:RelatedPartyPayablesTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Related party payables were comprised of the following at December 31, 2013 and 2012:</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font-size: 8pt"><b>December 31, 2013</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font-size: 8pt"><b>December 31, 2012</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">Purchase consideration due to the minority shareholder(s) of noncontrolling interest —Baokai </font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt"></font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">163,647</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The amount due to the minority shareholder(s) of Baokai represents the unpaid purchase consideration from the Company’s December 8, 2010 acquisition of this business segment included in discontinued operations. This amount bears no interest, is unsecured and payable on demand. During 2013, the Company paid $75,000 towards the outstanding balance. The Company wrote off the remaining balance of $88,647 by recording a gain on the forgiveness of debt as of December 31, 2013.</p>
</SSIE:RelatedPartyPayablesTextBlock>
<us-gaap:IncomeTaxDisclosureTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="margin: 0pt"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">The following table sets forth the components of income tax expense (benefit) for the years ended December 31, 2013 and 2012.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <table cellspacing="0" cellpadding="0" style="font: 8pt Calibri, Helvetica, Sans-Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid"> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><b>December 31,</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2013</b></p></td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid"> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><b>December 31,</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2012</b></p></td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="line-height: 115%"> </td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom"> <td style="width: 78%; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">Current:</font></td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 8%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 8%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-indent: 9pt; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">Federal</font></td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif"></font></td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif"></font></td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="text-indent: 9pt; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">State and local</font></td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">5,136</font></td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">49,004</font></td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-indent: 9pt; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">Foreign</font></td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif"></font></td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif"></font></td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="text-indent: 0.25in; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">Total current</font></td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">5,136</font></td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">49,004</font></td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">Deferred:</font></td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="text-indent: 9pt; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">Federal</font></td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">(174,087</font></td> <td style="line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">(20,562</font></td> <td style="line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-indent: 9pt; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">State and local</font></td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">(28,580</font></td> <td style="line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">(3,376</font></td> <td style="line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="text-indent: 9pt; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">Foreign</font></td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif"></font></td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif"></font></td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-indent: 0.25in; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">Total deferred</font></td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">(202,667</font></td> <td style="line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">(23,938</font></td> <td style="line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">Total</font></td> <td style="text-align: right; line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">(197,531</font></td> <td style="line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="text-align: right; line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">25,066</font></td> <td style="line-height: 115%"> </td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">The following table sets forth a reconciliation of income tax expense (benefit) at the federal statutory rate to recorded income tax expense (benefit) for the years ended December 31, 2013 and 2012.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <table cellspacing="0" cellpadding="0" style="font: 8pt Calibri, Helvetica, Sans-Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid"> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><b>December 31,</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2013</b></p></td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid"> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><b>December 31,</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2012</b></p></td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="line-height: 115%"> </td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 78%; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">Federal statutory rate</font></td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 8%; text-align: right; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">35.00</font></td> <td style="width: 1%; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif"> %</font></td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 8%; text-align: right; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">35.00</font></td> <td style="width: 1%; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">  %</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">State and local taxes</font></td> <td style="text-align: right; line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">5.84</font></td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">5.12</font></td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">Foreign rate differential</font></td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">(0.74</font></td> <td style="line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">(2.20</font></td> <td style="line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">Change in valuation allowance</font></td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">(26.20</font></td> <td style="line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">(38.03</font></td> <td style="line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">Permanent difference for the impairment of goodwill</font></td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">(12.01</font></td> <td style="line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif"></font></td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 115%; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">Other</font></td> <td style="line-height: 115%; padding-bottom: 1pt"> </td> <td style="line-height: 115%; padding-bottom: 1pt"> </td> <td style="text-align: right; line-height: 115%; border-bottom: Black 1pt solid"><font style="font: 8pt Times New Roman, Times, Serif">3.15</font></td> <td style="line-height: 115%; padding-bottom: 1pt"> </td> <td style="line-height: 115%; padding-bottom: 1pt"> </td> <td style="line-height: 115%; padding-bottom: 1pt"> </td> <td style="text-align: right; line-height: 115%; border-bottom: Black 1pt solid"><font style="font: 8pt Times New Roman, Times, Serif">(1.46</font></td> <td style="line-height: 115%; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-indent: 9pt; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">Total</font></td> <td style="text-align: right; line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">5.04</font></td> <td style="line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif"> %</font></td> <td style="line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">(1.57</font></td> <td style="line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">) %</font></td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">The following tables set forth the components of income taxes payable as of December 31, 2013 and 2012.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <table cellspacing="0" cellpadding="0" style="font: 8pt Calibri, Helvetica, Sans-Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid"> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><b>December 31,</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2013</b></p></td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid"> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><b>December 31,</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2012</b></p></td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="line-height: 115%"> </td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 78%; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">Federal</font></td> <td style="width: 1%; text-align: right; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 8%; text-align: right; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif"></font></td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; text-align: right; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 8%; text-align: right; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif"></font></td> <td style="width: 1%; line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">State and local</font></td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">1,974</font></td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">26,481</font></td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">Foreign</font></td> <td style="text-align: right; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif"></font></td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 115%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif"></font></td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">    Total</font></td> <td style="text-align: right; line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">1,974</font></td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">26,481</font></td> <td style="line-height: 115%"> </td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">The following tables set forth the components of deferred income taxes as of December 31, 2013 and 2012.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <table cellspacing="0" cellpadding="0" style="font: 8pt Calibri, Helvetica, Sans-Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid"> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><b>December 31,</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2013</b></p></td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid"> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><b>December 31,</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2012</b></p></td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td colspan="2" style="line-height: 115%"> </td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom"> <td style="width: 78%; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">Non-current deferred tax liabilities:</font></td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 8%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td> <td style="width: 8%; line-height: 115%"> </td> <td style="width: 1%; line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-indent: 9pt; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">Intangible assets</font></td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">(543,550</font></td> <td style="line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">(613,298</font></td> <td style="line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="text-indent: 9pt; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">Net operating loss carryforwards</font></td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">2,879,096</font></td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">1,720,632</font></td> <td style="line-height: 115%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-indent: 9pt; line-height: 115%; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">Less: valuation allowance</font></td> <td style="line-height: 115%; padding-bottom: 1pt"> </td> <td style="line-height: 115%; border-bottom: Black 1pt solid"> </td> <td style="text-align: right; line-height: 115%; border-bottom: Black 1pt solid"><font style="font: 8pt Times New Roman, Times, Serif">(2,753,950</font></td> <td style="line-height: 115%; padding-bottom: 1pt"> </td> <td style="line-height: 115%; padding-bottom: 1pt"> </td> <td style="line-height: 115%; border-bottom: Black 1pt solid"> </td> <td style="text-align: right; line-height: 115%; border-bottom: Black 1pt solid"><font style="font: 8pt Times New Roman, Times, Serif">(1,728,405</font></td> <td style="line-height: 115%; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="text-indent: 0.25in; line-height: 115%; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">Total non-current deferred tax liability</font></td> <td style="line-height: 115%; padding-bottom: 1pt"> </td> <td style="line-height: 115%; border-bottom: Black 1pt solid"> </td> <td style="text-align: right; line-height: 115%; border-bottom: Black 1pt solid"><font style="font: 8pt Times New Roman, Times, Serif">(418,404</font></td> <td style="line-height: 115%; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="line-height: 115%; padding-bottom: 1pt"> </td> <td style="line-height: 115%; border-bottom: Black 1pt solid"> </td> <td style="text-align: right; line-height: 115%; border-bottom: Black 1pt solid"><font style="font: 8pt Times New Roman, Times, Serif">(621,071</font></td> <td style="line-height: 115%; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-indent: 0.25in; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">Total deferred tax liability</font></td> <td style="text-align: right; line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">(418,404</font></td> <td style="line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="text-align: right; line-height: 115%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">(621,071</font></td> <td style="line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2013, the Company had federal, state and foreign net operating loss carryforwards aggregating $7,060,771 that are available to offset future liabilities for income taxes. The Company has generally established a valuation allowance against these carryforwards based on an assessment that it is more likely than not that these benefits will not be realized in future years. The federal and state net operating loss carryforwards expire at various dates through 2033.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company remains subject to examination in federal, state and foreign jurisdictions in which the Company conducts its operations and files tax returns. These tax years range from 2010 through 2013. The Company believes that the results of current or any prospective audits will not have a material effect on its financial position or results of operations as adequate reserves have been provided to cover any potential exposures related to these ongoing audits.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has made its assessment of the level of tax authority for each tax position (including the potential application of interest and penalties) based on the technical merits, and has measured the unrecognized tax benefits associated with the tax positions. As of December 31, 2013 and 2012, the Company had additional unrecognized tax benefits of $12,374 and nil, respectively, that mainly related to state and city tax. The unrecognized tax benefit is recorded as non-current liabilities because the related payment is not anticipated within one year of the balance sheet date. The Company classifies interest and/or penalties related to income tax matters in interest expense. A reconciliation of the beginning and ending amount of unrecognized tax benefits for 2013 and 2012 is as follows:</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <table cellspacing="0" cellpadding="0" style="font: 8pt Calibri, Helvetica, Sans-Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="width: 90%; line-height: 115%; font-size: 11pt"><font style="font: 10pt Times New Roman, Times, Serif">Balance, December 31, 2011</font></td> <td style="width: 1%; text-align: right; line-height: 115%"> </td> <td style="width: 1%; text-align: right; line-height: 115%; font-size: 11pt"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="width: 7%; text-align: right; line-height: 115%; font-size: 11pt"><font style="font: 10pt Times New Roman, Times, Serif">22,522</font></td> <td style="width: 1%; text-align: right; line-height: 115%"> </td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 115%; font-size: 11pt; padding-bottom: 1pt"><font style="font: 10pt Times New Roman, Times, Serif">Interest and penalties</font></td> <td style="text-align: right; line-height: 115%; padding-bottom: 1pt"> </td> <td style="text-align: right; line-height: 115%; border-bottom: Black 1pt solid"> </td> <td style="text-align: right; line-height: 115%; font-size: 11pt; border-bottom: Black 1pt solid"><font style="font: 10pt Times New Roman, Times, Serif">6,180</font></td> <td style="text-align: right; line-height: 115%; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 115%; font-size: 11pt"><font style="font: 10pt Times New Roman, Times, Serif">Balance, December 31, 2012</font></td> <td style="text-align: right; line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="text-align: right; line-height: 115%; font-size: 11pt"><font style="font: 10pt Times New Roman, Times, Serif">28,702</font></td> <td style="text-align: right; line-height: 115%"> </td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 115%; font-size: 11pt"><font style="font: 10pt Times New Roman, Times, Serif">Additions based on tax positions related to 2012</font></td> <td style="text-align: right; line-height: 115%"> </td> <td style="text-align: right; line-height: 115%"> </td> <td style="text-align: right; line-height: 115%; font-size: 11pt"><font style="font: 10pt Times New Roman, Times, Serif">12,374</font></td> <td style="text-align: right; line-height: 115%"> </td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 115%; font-size: 11pt; padding-bottom: 1pt"><font style="font: 10pt Times New Roman, Times, Serif">Interest and penalties</font></td> <td style="text-align: right; line-height: 115%; padding-bottom: 1pt"> </td> <td style="text-align: right; line-height: 115%; border-bottom: Black 1pt solid"> </td> <td style="text-align: right; line-height: 115%; font-size: 11pt; border-bottom: Black 1pt solid"><font style="font: 10pt Times New Roman, Times, Serif">4,261</font></td> <td style="text-align: right; line-height: 115%; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 115%; font-size: 11pt; padding-bottom: 2.5pt"><font style="font: 10pt Times New Roman, Times, Serif">Balance, December 31, 2013</font></td> <td style="text-align: right; line-height: 115%; padding-bottom: 2.5pt"> </td> <td style="text-align: right; line-height: 115%; font-size: 11pt; border-bottom: Black 2.5pt double"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; line-height: 115%; font-size: 11pt; border-bottom: Black 2.5pt double"><font style="font: 10pt Times New Roman, Times, Serif">45,337</font></td> <td style="text-align: right; line-height: 115%; padding-bottom: 2.5pt"> </td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt"> </p> <p style="margin: 0pt"></p>
</us-gaap:IncomeTaxDisclosureTextBlock>
<us-gaap:ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="margin: 0pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 89%"><font style="font: 8pt Times New Roman, Times, Serif">Balance, December 31, 2011</font></td> <td style="width: 1%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="width: 1%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 8%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">22,522</font></td> <td style="width: 1%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">Interest and penalties</font></td> <td style="text-align: right; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="text-align: right; border-bottom: Black 1pt solid"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="text-align: right; border-bottom: Black 1pt solid"><font style="font: 8pt Times New Roman, Times, Serif">6,180</font></td> <td style="text-align: right; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><font style="font: 8pt Times New Roman, Times, Serif">Balance, December 31, 2012</font></td> <td style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">28,702</font></td> <td style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td><font style="font: 8pt Times New Roman, Times, Serif">Additions based on tax positions related to 2012</font></td> <td style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">12,374</font></td> <td style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">Interest and penalties</font></td> <td style="text-align: right; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="text-align: right; border-bottom: Black 1pt solid"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="text-align: right; border-bottom: Black 1pt solid"><font style="font: 8pt Times New Roman, Times, Serif">4,261</font></td> <td style="text-align: right; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 2.5pt"><font style="font: 8pt Times New Roman, Times, Serif">Balance, December 31, 2013</font></td> <td style="text-align: right; padding-bottom: 2.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="text-align: right; border-bottom: Black 2.5pt double"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; border-bottom: Black 2.5pt double"><font style="font: 8pt Times New Roman, Times, Serif">45,337</font></td> <td style="text-align: right; padding-bottom: 2.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> </table> <p style="margin: 0pt"></p>
</us-gaap:ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock>
<us-gaap:DebtDisclosureTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">Debt was comprised of the following at December 31, 2013 and 2012:</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="font: 8pt/115% Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31, 2013</b></font></td> <td style="font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="font: 8pt/115% Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31, 2012</b></font></td> <td style="font: 8pt/115% Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="font: 8pt/115% Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="font: 8pt/115% Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="font: 8pt/115% Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 78%; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">7% Convertible debentures</font></td> <td style="width: 1%; text-align: right; font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="width: 1%; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="width: 8%; text-align: right; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">150,000</font></td> <td style="width: 1%; font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="width: 1%; text-align: right; font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="width: 1%; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="width: 8%; text-align: right; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif"></font></td> <td style="width: 1%; font: 8pt/115% Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">9% Convertible debentures</font></td> <td style="text-align: right; font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">1,900,000</font></td> <td style="font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">150,000</font></td> <td style="font: 8pt/115% Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt/115% Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 10pt Times New Roman, Times, Serif">Loan discounts</font></td> <td style="font: 8pt/115% Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font: 8pt/115% Times New Roman, Times, Serif; border-bottom: Black 1pt solid"> </td> <td style="text-align: right; font: 8pt/115% Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><font style="font: 10pt Times New Roman, Times, Serif">(264,132</font></td> <td style="font: 8pt/115% Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 10pt Times New Roman, Times, Serif"></font></td> <td style="font: 8pt/115% Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font: 8pt/115% Times New Roman, Times, Serif; border-bottom: Black 1pt solid"> </td> <td style="text-align: right; font: 8pt/115% Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><font style="font: 10pt Times New Roman, Times, Serif"></font></td> <td style="font: 8pt/115% Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">     Total long term debt</font></td> <td style="font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">1,785,868</font></td> <td style="font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">150,000</font></td> <td style="font: 8pt/115% Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">Less: Current portion</font></td> <td style="font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">100,000</font></td> <td style="font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif"></font></td> <td style="font: 8pt/115% Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">     Long term debt</font></td> <td style="text-align: right; font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 2.25pt double; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,685,868</font></td> <td style="font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 2.25pt double; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">150,000</font></td> <td style="font: 8pt/115% Times New Roman, Times, Serif"> </td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">The following table summarizes the issuance of all convertible debentures during the years ended December 31, 2013 and 2012:</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b>Issue Date</b></font></td> <td style="font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="text-align: center; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b>Interest Rate</b></font></td> <td style="font: 8pt/115% Times New Roman, Times, Serif"> </td> <td colspan="2" style="text-align: center; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b>Face Value</b></font></td> <td style="font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="text-align: center; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b>Maturity Date</b></font></td> <td style="font: 8pt Times New Roman, Times, Serif"> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Conversion Rate of</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Face Value to Common Shares</b></p></td></tr> <tr style="vertical-align: bottom; background-color: white; font: 8pt Times New Roman, Times, Serif"> <td style="width: 22%; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">11/16/2012</font></td> <td style="width: 1%; font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="width: 22%; text-align: center; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">9%</font></td> <td style="width: 1%; font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="width: 1%; border-bottom: black 1.5pt solid; font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="width: 10%; border-bottom: black 1.5pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">50,000</font></td> <td style="width: 1%; font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="width: 21%; text-align: center; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">11/16/2015</font></td> <td style="width: 21%; text-align: center; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">20.0%</font></td></tr> <tr style="background-color: white; font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">02/11/2013</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; text-align: center; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">9%</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; border-bottom: black 1.5pt solid; font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; border-bottom: black 1.5pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">50,000   </font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; text-align: center; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">02/11/2016</font></td> <td style="vertical-align: top; text-align: center; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">20.0%</font></td></tr> <tr style="background-color: white; font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">08/01/2013                                              </font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; text-align: center; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">9%</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; border-bottom: black 1.5pt solid; font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; border-bottom: black 1.5pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">100,000</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; text-align: center; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">08/01/2016</font></td> <td style="vertical-align: top; text-align: center; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">20.0%</font></td></tr> <tr style="background-color: white; font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">09/23/2013</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; text-align: center; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">9%</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; border-bottom: black 1.5pt solid; font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; border-bottom: black 1.5pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">50,000</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; text-align: center; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">09/23/2016</font></td> <td style="vertical-align: top; text-align: center; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">20.0%</font></td></tr> <tr style="background-color: white; font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">10/22/2013</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; text-align: center; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">9%</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; border-bottom: black 1.5pt solid; font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; border-bottom: black 1.5pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">50,000</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; text-align: center; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">10/22/2016</font></td> <td style="vertical-align: top; text-align: center; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">20.0%</font></td></tr> <tr style="background-color: white; font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">11/04/2013</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; text-align: center; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">9%</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; border-bottom: black 1.5pt solid; font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; border-bottom: black 1.5pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">500,000</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; text-align: center; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">11/04/2016</font></td> <td style="vertical-align: top; text-align: center; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">20.0%</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">12/06/2013</font></td> <td style="font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="text-align: center; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">7%</font></td> <td style="font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 1.5pt solid; font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 1.5pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">50,000</font></td> <td style="font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="text-align: center; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">12/06/2016</font></td> <td style="text-align: center; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">14.3%</font></td></tr> <tr style="background-color: white; font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">12/16/2013</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; text-align: center; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">9%</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; border-bottom: black 1.5pt solid; font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; border-bottom: black 1.5pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">250,000</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; text-align: center; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">12/16/2016</font></td> <td style="vertical-align: top; text-align: center; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">20.0%</font></td></tr> <tr style="background-color: white; font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">12/26/2013</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; text-align: center; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">9%</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; border-bottom: black 1.5pt solid; font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; border-bottom: black 1.5pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">750,000</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; text-align: center; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">12/26/2016</font></td> <td style="vertical-align: top; text-align: center; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">20.0%</font></td></tr> <tr style="background-color: white; font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">12/27/2013</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; text-align: center; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">7%</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; border-bottom: black 1.5pt solid; font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; border-bottom: black 1.5pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">50,000</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; text-align: center; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">12/27/2016</font></td> <td style="vertical-align: top; text-align: center; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">14.3%</font></td></tr> <tr style="background-color: white; font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">12/27/2013</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; text-align: center; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">7%</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; border-bottom: black 1.5pt solid; font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; border-bottom: black 1.5pt solid; font: 8pt/115% Times New Roman, Times, Serif; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">50,000</font></td> <td style="vertical-align: bottom; font: 8pt/115% Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; text-align: center; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">12/27/2016</font></td> <td style="vertical-align: top; text-align: center; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">14.3%</font></td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">On November 16, 2012, the Company completed the private placement of an unsecured, convertible debenture in the amount of $50,000. The debenture carries an interest rate of 9% per annum, payable semiannually in cash, for a three-year term with a fixed conversion price of $5.00 per share, or 10,000 shares of the Company’s common stock if converted within the first year of issuance or a fixed conversion price of $6.00 per share, or 8,333 shares of the Company’s common stock if converted during the second or third year following issuance.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">During 2013, the Company completed the private placement of seven unsecured, convertible debentures for gross proceeds of $1,750,000 with six different investors. These debentures carry an interest rate of 9% per annum, payable semiannually in cash, for a three-year term with a fixed conversion price of $5.00 per share, or 350,000 shares of the Company’s common stock if converted within the first year of issuance or a fixed conversion price of $6.00 per share, or 291,667 shares of the Company’s common stock if converted during the second or third year following issuance.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Additionally in 2013, the Company completed the private placement of three unsecured, convertible debentures for gross proceeds of $150,000 with three different investors. These debentures carry an interest rate of 7% per annum, payable semiannually in cash, for a three-year term with a fixed conversion price of $7.00 per share, or 21,429 shares of the Company’s common stock if converted within the first year of issuance or a fixed conversion price of $9.00 per share, or 16,667 shares of the Company’s common stock if converted during the second or third year following issuance.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">   </p> <p style="font: 8pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt">The convertible debentures were analyzed at issuance for a beneficial conversion feature and the Company concluded that a beneficial conversion feature exists. The beneficial conversion feature was measured using the commitment-date stock price and was determined to be $271,090. This amount was recorded as a debt discount and is amortized to interest expense over the term of the convertible debentures. The debt discount related to beneficial conversion feature was $264,132 and nil as of December 31, 2013 and December 31, 2012, respectively. The related amortization expense was $6,958 and nil for the year ended December 31, 2013 and 2012, respectively. The Company also analyzed the convertible debentures for derivative accounting consideration and determined that derivative accounting does not apply.</p> <p style="font: 8pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt"></p> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"></p>
</us-gaap:DebtDisclosureTextBlock>
<us-gaap:SegmentReportingDisclosureTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As a result of the acquisition of its equity interest in TPE and exclusive distribution rights for Lightsky LED lighting products, the Company reassessed its requirement for segment reporting based on the operating and reporting structure of the combined company.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company utilized several criteria, including (i) the Company’s organizational structure, (ii) the manner in which the Company’s operations are managed, (iii) the criteria used by the Company’s Chief Executive Officer, the Chief Operating Decision Maker (“CODM”), to evaluate segment performance and (iv) the availability of separate financial information, as a basis to identify its operating segments.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company determined that it has four reportable business segments: Baokai, Wendeng, ORC and LED. The Baokai segment consists of the business of Zibo Baokai Commerce and Trade Co., Ltd., a company based in the Shandong province of China that distributes the trichlorosilane production of Zibo Baoyun Chemical Plant. The Wendeng segment consists of the operations of Wendeng He Xie Silicon Co., Ltd., a company based in the Shandong province of China that directly manufactures and sells trichlorosilane. The ORC segment consists of the operations of TransPacific Energy, Inc., a company based in California and Nevada that designs and installs proprietary modular Organic Rankine Cycle units utilizing patented multiple refrigerant mixtures to maximize heat recovery and convert waste heat directly from industrial processes, solar and geothermal, biomass converting it into electrical energy. The LED segment consists of the business of ForceField Energy USA, Inc. and ForceField Energy S.A. that distributes LED lighting products manufactured in China by Shanghai Lightsky Optoelectronics Technology Co., Ltd. in the major North American markets.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The accounting policies of the reportable segments are the same as those described in Note 2 — Summary of Significant Accounting Policies to the consolidated financial statements. The Company’s CODM reviews financial information presented on a consolidated basis, accompanied by disaggregated information by segment for purpose of evaluating financial performance.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The assets and liabilities of Baokai and Wendeng were separately reported as “assets and liabilities of discontinued operations held for sale” as of December 31, 2013 and 2012; the results of operations of these two business segments were separately reported as “discontinued operations” for all periods, thus, were not included in the segment results, customer information and geographic information. See Note 14 — Discontinued Operations for additional information.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><i><u>Segment Results</u></i></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The following table sets forth operations by segment for the years ended December 31, 2013 and 2012:</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font-size: 8pt"><b>ORC</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font-size: 8pt"><b>LED</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font-size: 8pt"><b>Corporate</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font-size: 8pt"><b>Consolidated</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 52%; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">Sales:</font></td> <td style="width: 1%; text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">2013</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">236,672</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">106,964</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt"></font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">343,636</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">2012</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">240,238</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt"></font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt"></font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">240,238</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">Cost of goods sold:</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">2013</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">210,992</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">62,018</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt"></font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">273,010</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">2012</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">240,238</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt"></font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt"></font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">240,238</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">Gross margin:</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">2013</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">25,680</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">44,946</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt"></font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">70,626</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">2012</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt"></font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt"></font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt"></font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt"></font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">Operating expenses:</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">2013 (1)</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">1,498,639</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">536,280</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">1,992,517</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">4,027,436</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">2012</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">57,950</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">148,626</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">1,325,312</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">1,531,888</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">Other income (expense):</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">2013</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">203</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">4</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">40,514</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">40,721</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">2012</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt"></font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt"></font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">(19,010</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">) </font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">(19,010</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">) </font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">Provision for income taxes:</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">2013</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">(201,867</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">) </font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt"></font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">4,336</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">(197,531</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">2012</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">(23,138</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">) </font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt"></font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">48,204</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">25,066</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">Net income (loss):</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">2013</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">(1,270,889</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">) </font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">(491,330</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">) </font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">(1,956,339</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">) </font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">(3,718,558</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">2012</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">(34,812</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">) </font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">(148,626</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">) </font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">(1,392,526</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">) </font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">(1,575,964</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">)</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">_______________</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">(1) 2013 Includes goodwill impairment charge of $1,342,834 to the ORC segment.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Operating segments do not sell products to each other, and accordingly, there is no inter-segment revenue to be reported.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><i><u>Total Assets</u></i></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The following table sets forth the total assets by segment at December 31, 2013 and 2012:</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font-size: 8pt"><b>ORC</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font-size: 8pt"><b>LED</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font-size: 8pt"><b>Corporate</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font-size: 8pt"><b>Consolidated</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 52%; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">Total assets:</font></td> <td style="width: 1%; text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">2013</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">1,903,094</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">712,806</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">3,618,991</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">6,234,891</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">2012</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">3,370,300</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">769,056</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">461,781</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">4,601,137</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><i><u>Goodwill, Intangible and Long-Lived Assets</u></i></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The following table sets forth the carrying amount of goodwill by segment at December 31, 2013 and 2012:</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font-size: 8pt"><b>ORC</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font-size: 8pt"><b>LED</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font-size: 8pt"><b>Corporate</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font-size: 8pt"><b>Consolidated</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 52%; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">Goodwill:</font></td> <td style="width: 1%; text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: bottom; text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">2013</font></td> <td style="vertical-align: bottom; text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt"></font></td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: top; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt"></font></td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: top; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt"></font></td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt"></font></td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: bottom; text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">2012</font></td> <td style="vertical-align: bottom; text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">1,342,834</font></td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: top; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt"></font></td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: top; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt"></font></td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">1,342,834</font></td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">Intangible assets:</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: bottom; text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">2013</font></td> <td style="vertical-align: bottom; text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: top; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">1,437,892</font></td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">572,000</font></td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: top; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt"></font></td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">2,009,892</font></td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: bottom; text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">2012</font></td> <td style="vertical-align: bottom; text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: top; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">1,543,425</font></td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">728,000</font></td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: top; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt"></font></td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">2,271,425</font></td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">Property, plant and equipment:</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: bottom; text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">2013</font></td> <td style="vertical-align: bottom; text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt"></font></td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: top; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">7,073</font></td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: top; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt"></font></td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: top; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">7,073</font></td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: bottom; text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">2012</font></td> <td style="vertical-align: bottom; text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt"></font></td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: top; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt"></font></td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: top; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt"></font></td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: top; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt"></font></td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="background-color: yellow"> </font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">At December 31, 2013, the Company’s evaluation of goodwill resulted in a total impairment charge of $1,342,834 to its ORC segment.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">For the year ended December 31, 2013, amortization expense totaled $261,533; of which $105,533 was attributed to the Company’s ORC segment and $156,000 was attributed to its LED segment. For the year ended December 31, 2012, amortization expense totaled $91,575; of which $39,575 was attributed to the Company’s ORC segment and $52,000 was attributed to its LED segment.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">For the years ended December 31, 2013 and 2012, depreciation expense totaled $35 and nil, respectively; of which all was attributed to the Company’s LED segment. For the years ended December 31, 2013 and 2012, capital expenditures totaled $7,143 and nil, respectively; of which all was attributed to the Company’s LED segment.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><i><u>Customer information</u></i></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">For the year ended December 31, 2013, two customers accounted for 95% of ORC’s revenue at individual concentration levels of 33% and 67%. At December 31, 2013, one customer accounted for approximately 100% of ORC’s accounts receivable.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For the year ended December 31, 2012, two customers accounted for 100% of ORC’s revenue at individual concentration levels of 33% and 67%. At December 31, 2012, one customer accounted for approximately 83% of ORC’s accounts receivable.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><i><u>Geographic Information</u></i></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">All of the Company’s long-lived assets are located in Costa Rica.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For the year ended December 31, 2013, all of the Company’s sales were located within the United States; with the exception of sales totaling $28,855 from the Company’s LED segment in Costa Rica. For the year ended December 31, 2012, all of the Company’s sales were located within the United States.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
</us-gaap:SegmentReportingDisclosureTextBlock>
<us-gaap:UnrecognizedTaxBenefits contextRef="AsOf2013-12-31" unitRef="USD" decimals="0"> 45337 </us-gaap:UnrecognizedTaxBenefits>
<us-gaap:UnrecognizedTaxBenefits contextRef="AsOf2012-12-31" unitRef="USD" decimals="0"> 28702 </us-gaap:UnrecognizedTaxBenefits>
<us-gaap:UnrecognizedTaxBenefits contextRef="AsOf2013-12-31_BaokaiMember" unitRef="USD" xsi:nil="true"/>
<us-gaap:UnrecognizedTaxBenefits contextRef="AsOf2012-12-31_BaokaiMember" unitRef="USD" xsi:nil="true"/>
<us-gaap:UnrecognizedTaxBenefits contextRef="AsOf2013-12-31_WendengMember" unitRef="USD" decimals="0"> 1324226 </us-gaap:UnrecognizedTaxBenefits>
<us-gaap:UnrecognizedTaxBenefits contextRef="AsOf2012-12-31_WendengMember" unitRef="USD" decimals="0"> 1160012 </us-gaap:UnrecognizedTaxBenefits>
<us-gaap:UnrecognizedTaxBenefits contextRef="AsOf2013-12-31_custom_DiscontinuedOperationsMember" unitRef="USD" decimals="0"> 1324226 </us-gaap:UnrecognizedTaxBenefits>
<us-gaap:UnrecognizedTaxBenefits contextRef="AsOf2012-12-31_custom_DiscontinuedOperationsMember" unitRef="USD" decimals="0"> 1160012 </us-gaap:UnrecognizedTaxBenefits>
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<p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"><i><u>Basis of Presentation and Principles of Consolidation</u></i></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">The consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States (“US GAAP”) and are expressed in United States dollars. The consolidated financial statements include the accounts of the Company; its wholly-owned subsidiaries SunSi Energies Hong Kong Limited (“SunSi HK”), ForceField Energy USA Inc. (“FNRG USA”), and ForceField Energy SA (“FNRG SA”), formed in March 2013 and located in Costa Rica; the Company’s 50.3% owned subsidiary TransPacific Energy, Inc. (“TPE”); SunSi HK's 90% owned subsidiary Zibo Baokai Commerce and Trade Co. Ltd. (“Baokai”); SunSi HK's 60% owned subsidiary Wendeng He Xie Silicon Industry Co., Ltd. (“Wendeng”). All intercompany accounts and transactions are eliminated in consolidation.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"><i><u>Discontinued Operations</u></i></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">In December 2013, the Board of Directors authorized ForceField’s management to pursue the sale of its Baokai and Wendeng segments. These segments were each classified as discontinued operations and assets held for sale beginning with the Company’s December 31, 2013 consolidated financial statements. In February 2014, the Company entered into two definitive agreements to sell and transfer its equity interests in Baokai and Wendeng. These transactions each closed on February 19, 2014.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">ForceField’s results of operations related to its Baokai and Wendeng segments have been reclassified as discontinued operations on a retrospective basis for all years presented. See Note 14 — Discontinued Operations for additional information.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"><i><u>Reverse Stock Split</u></i></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">All preferred and common share amounts (except par value and par value per share amounts) have been retroactively restated to reflect the Company’s one-for-two reverse capital stock split effective October 9, 2012, as described in Note 17 — Stockholders’ Equity to these consolidated financial statements.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">The significant accounting policies are as follows:</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"><i><u>Use of Estimates</u></i></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">The preparation of consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company continually evaluates its estimates, including but not limited to the allowance for doubtful accounts, the useful lives and impairment for property, plant and equipment, goodwill and acquired intangible assets, write-down in value of inventory and deferred income taxes. The Company bases its estimates on historical experience, known or expected trends and various other assumptions that are believed to be reasonable given the quality of information available as of the date of these financial statements. The results of these assumptions provide the basis for making estimates about the carrying amounts of assets and liabilities that are not readily apparent from other sources. Actual results could differ from these estimates.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">The Company believes that the following critical accounting policies govern its more significant judgments and estimates used in the preparation of its consolidated financial statements:</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"><i><u>Cash and Cash Equivalents</u></i></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">The Company considers all highly liquid investments with a maturity of three months or less at the date of purchase to be cash equivalents. Cash and cash equivalents are stated at cost and consist solely of bank deposits held in the United States, Costa Rica, Hong Kong and China. The carrying amount of cash and cash equivalents approximates fair value.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"><i><u>Concentration of Credit Risk</u></i></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of cash and cash equivalents and accounts receivable. At December 31, 2013 and December 31, 2012, the Company’s cash and cash equivalents and restricted cash were held by major financial institutions located in the United States, Hong Kong and China, which management believes are of high credit quality.  </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">With respect to accounts receivable, the Company extends credit based on an evaluation of the customer’s financial condition. The Company generally does not require collateral for trade receivables and maintains an allowance for doubtful accounts receivable.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"><i><u>Allowance for doubtful accounts</u></i></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">The Company establishes an allowance for doubtful accounts based on management’s assessment of the aging and collectability of its trade receivables. A considerable amount of judgment is required in assessing the amount of the allowance. The underlying assumptions, estimates and assessments we use to provide for losses are updated periodically to reflect our view of current conditions. Generally, the Company records a provision for bad debts equivalent to ten percent of the balance of its trade receivables outstanding for more than ninety days from their date of invoice. Trade receivables outstanding for more than one year from their date of invoice are reserved in full, unless the customer is actively making payments or has entered into a payment agreement with the Company. In such cases, the Company maintains its provision for bad debts at the ten percent level.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">Furthermore, the Company makes judgments about the creditworthiness of each customer based on ongoing credit evaluations and frequent communication, and monitors current economic trends that might impact the level of credit losses in the future. If the financial condition of the customers were to deteriorate, resulting in their inability to make payments, a specific allowance will be recorded.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">Bad debts are written off when identified. The Company extends unsecured credit to substantially all of its customers in the normal course of business. In many cases, this is necessary to remain competitive in the marketplace in which the Company operates. Potential customers for the Company’s products are finite in nature, and typically are larger, well capitalized companies. The Company does not accrue interest on aged trade accounts receivable as it is not a customary practice in the jurisdictions in which the Company operates. Historically, losses from uncollectible accounts have not significantly deviated from the specific allowance estimated by management. This specific provisioning policy has not changed since establishment and the management considers that the aforementioned specific provisioning policy is adequate and does not expect to change this established policy in the near future.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"><i><u>Inventory</u></i></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">Inventories in the United States and Costa Rica are stated at the lower of cost (first-in, first-out) or market. A reserve is recorded for any inventory deemed excessive or obsolete.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">Inventories in the PRC are stated at the lower of cost or market value. Cost is determined on weighted average basis and includes all expenditures incurred in bringing the goods in a saleable condition to the point of sale. The Company’s inventory reserve requirements generally fluctuate based on projected demands and market conditions. In determining the adequate level of inventories to have on hand, management makes judgments as to the projected inventory demands as compared to the current or committed inventory levels. Inventory quantities and condition are reviewed regularly and provisions for excess or obsolete inventory are recorded based on the condition of inventory and the Company’s forecast of future demand and market conditions.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"><i><u>Intangible assets – land use rights</u></i></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">All land in the PRC is owned by the PRC government. The government in the PRC, according to the relevant PRC law, may sell the right to use the land for a specified period of time. Land use rights are stated at cost less accumulated amortization. Amortization is provided using the straight-line method over the terms of 50 years. The lease term is obtained from the relevant Chinese land authority.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><i> </i></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"><i><u>Property, plant and equipment</u></i></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">Property and equipment are stated at cost or fair value if acquired as part of a business combination. Depreciation is computed by the straight-line method and is charged to operations over the estimated useful lives of the assets. Maintenance and repairs are charged to expense as incurred. The carrying amount and accumulated depreciation of assets sold or retired are removed from the accounts in the year of disposal and any resulting gain or loss is included in results of operations. The estimated useful lives of property and equipment are as follows:</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <table cellspacing="0" cellpadding="0" style="font: 8pt Calibri, Helvetica, Sans-Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 67%; line-height: 115%"> </td> <td style="width: 33%; border-bottom: black 1.5pt solid; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif"><b>Estimated Useful Lives</b></font></td></tr> <tr style="vertical-align: top; background-color: #CCEEFF"> <td style="line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">Building</font></td> <td style="line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">20 years</font></td></tr> <tr style="vertical-align: top; background-color: white"> <td style="line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">Machinery and equipment</font></td> <td style="line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">3 – 10 years</font></td></tr> <tr style="vertical-align: top; background-color: #CCEEFF"> <td style="line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">Furniture and fixtures</font></td> <td style="line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">5 – 7 years</font></td></tr> <tr style="vertical-align: top; background-color: white"> <td style="line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">Computers and software</font></td> <td style="line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">3 – 7 years</font></td></tr> <tr style="vertical-align: top; background-color: #CCEEFF"> <td style="line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">Motor vehicles</font></td> <td style="line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">5 years</font></td></tr> <tr style="vertical-align: top; background-color: white"> <td style="line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">Leasehold improvements</font></td> <td style="line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">Lessor of lease term or estimated useful life</font></td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"><i><u>Construction in progress</u></i></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">The value of construction in progress comprises buildings and plants under construction, as well as machines and equipment being installed and commissioned, specifically comprises the costs of property, plant and equipment and other direct costs, relevant interest expenses accrued during the construction period and profits and losses from foreign exchange transactions.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">Depreciation will not start until the construction in progress is completed and put into operation.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"><i><u>Impairment of Long-Lived Assets</u></i></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">The Company reviews long-lived assets and certain identifiable intangibles held and used for possible impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. In evaluating the fair value and future benefits of its long-lived assets, management performs an analysis of the anticipated undiscounted future net cash flows of the individual assets over the remaining depreciation or amortization period. The Company recognizes an impairment loss if the carrying value of the asset exceeds the expected future cash flows.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"><i><u>Goodwill and Intangible Assets</u></i></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">Under ASC 350, the Company is required to perform an annual impairment test of the Company’s goodwill and indefinite-lived intangibles. Annually on each December 31, management assesses the composition of the Company’s assets and liabilities, as well as the events that have occurred and the circumstances that have changed since the most recent fair value determination. If events occur or circumstances change that would more likely than not reduce the fair value of goodwill and indefinite-lived intangibles below their carrying amounts, they will be tested for impairment. The Company will recognize an impairment charge if the carrying value of the asset exceeds the fair value determination. The impairment test that the Company has selected historically consisted of a ten year discounted cash flow analysis including the determination of a terminal value, and requires management to make various assumptions and estimates including revenue growth, future profitability, peer group comparisons, and a discount rate which management believes are reasonable.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">The impairment test involves a two-step approach. Under the first step, the Company determines the fair value of each reporting subsidiary to which goodwill has been assigned. The Company then compares the fair value of each reporting subsidiary to its carrying value, including goodwill. The Company estimates the fair value of each reporting subsidiary by estimating the present value of the reporting subsidiaries' future cash flows. If the fair value exceeds the carrying value, no impairment loss is recognized. If the carrying value exceeds the fair value, the goodwill of the reporting unit is considered potentially impaired and the second step is completed in order to measure the impairment loss.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">Under the second step, the Company calculates the implied fair value of goodwill by deducting the fair value of all tangible and intangible net assets, including any unrecognized intangible assets, of the reporting unit from the fair value of the reporting unit, as determined in the first step. The Company then compares the implied fair value of goodwill to the carrying value of goodwill. If the implied fair value of goodwill is less than the carrying value of goodwill, the Company recognizes an impairment loss equal to the difference.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"><i><u>Stock Purchase Warrants</u></i></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">The Company has issued warrants to purchase shares of its common stock. Warrants have been accounted for as equity in accordance with FASB ASC 480,<i> Accounting for Derivative Financial Instruments Indexed to, and Potentially Settled in, a Company’s Own Stock,</i> <i>Distinguishing Liabilities from Equity.</i></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"><i><u>Income Taxes</u></i></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">The Company accounts for income taxes under FASB ASC 740,<i> “Accounting for Income Taxes”</i>. Under FASB ASC 740, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under FASB ASC 740, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. FASB ASC 740-10-05,<i> “Accounting for Uncertainty in Income Taxes”</i> prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">The amount recognized is measured as the largest amount of benefit that is greater than 50 percent likely of being realized upon ultimate settlement. We assess the validity of our conclusions regarding uncertain tax positions on a quarterly basis to determine if facts or circumstances have arisen that might cause us to change our judgment regarding the likelihood of a tax position’s sustainability under <font style="background-color: white">audit.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><i> </i></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"><i><u>Basic and Diluted Net Income (Loss) Per Share</u></i></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">The Company computes net income (loss) per share in accordance with ASC 260,<i> “Earnings per Share”</i>. ASC 260 requires presentation of both basic and diluted earnings per share (EPS) on the face of the income statement. Basic EPS is computed by dividing net income (loss) available to common stockholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">For the periods presented, the computation of diluted loss per share equaled basic loss per share as the inclusion of any dilutive instruments would have had an antidilutive effect on the earnings per share calculation in the periods presented.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"><i>Assets held for sale</i></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">For the business where management has committed to a plan to divest, which is typically demonstrated by approval from the Board of Directors, the business is valued at the lower of its carrying amount or estimated fair value less cost to sell. If the carrying amount of the business exceeds its estimated fair value, an impairment loss is recognized. Upon designation as an asset held for sale, the Company ceased depreciation. The assets and liabilities as of December 31, 2012 related to Baokai and Wendeng segments have been reclassified as “assets and liabilities of discontinued operations held for sale” to conform to the presentation of the current period for the comparative purposes.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"><i>Fair Value</i></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">Fair value is the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Company considers the principal or most advantageous market in which it would transact and it considers assumptions that market participants would use when pricing the asset or liability.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">Authoritative literature provides a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement as follows:</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">Level 2 applies to assets or liabilities for which there are inputs other than quoted prices included within Level 1 that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"><i><u>Fair Value of Financial Instruments</u></i></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">The Company adopted FASB ASC 820 on June 1, 2010. The adoption of FASB ASC 820 did not materially impact the Company's financial position, results of operations or cash flows. FASB ASC 820 requires the disclosure of the estimated fair value of financial instruments including those financial instruments for which the fair value option was not elected. The carrying amounts of both the financial assets and liabilities approximate to their fair values due to short maturities or the applicable interest rates approximate the current market rates.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"><i><u>Revenue Recognition – Product Sales</u></i></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">Revenue from the sales of the Company’s products is recognized upon customer acceptance. This occurs at the time of delivery to the customer, provided persuasive evidence of an arrangement exists, such as a signed sales contract. The significant risks and rewards of ownership are transferred to the customers at the time when the products are delivered and there is no significant post-delivery obligation to the Company. In addition, the sales price is fixed or determinable and collection is reasonably assured. The Company does not provide customers with contractual rights of return for products. When there are significant post-delivery performance obligations, revenue is recognized only after such obligations are fulfilled. The Company evaluates the terms of the sales agreement with its customer in order to determine whether any significant post-delivery performance obligations exist. Currently, the sales do not include any terms which may impose any significant post-delivery performance obligations on the Company.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">Revenue from the sales of the Company’s products represents the invoiced value of goods, net of the value-added tax (“VAT”). All of the Company’s products that are sold in China are subject to a Chinese VAT at a rate of 17% of the gross sales price. This VAT may be offset by the VAT paid by the Company on raw and other materials that are included in the cost of producing the Company’s finished products.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"><i><u>Revenue Recognition – ORC Equipment Construction Contracts</u></i></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">The Company’s ORC segment’s financial statements are prepared on the percentage-of-completion accrual method of accounting. Income on contracts is recognized based on the Company’s estimate of the percentage-of-completion on individual contracts (cost to cost method), commencing when progress reaches a point where cost analysis and other evidence of trend is sufficient to estimate final results with reasonable accuracy. That portion of the total contract which is allocable to contract expenditures incurred and work performed is accrued as earned income. At the time a loss on a contract becomes known, the entire amount of the estimated ultimate loss is accrued.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">Contract costs include all project engineering, components and materials, labor, equipment, and delivery and installation costs as well as assorted indirect costs related to contract performance. The majority of these costs are outsourced to subcontractors and suppliers, Provisions for estimated losses on uncompleted contracts are made in the period in which such losses are determined. Changes in job performance, job conditions, and estimated profitability may result in revisions to costs and income, which are recognized in the period in which the revisions are determined.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"><i><u>Costs and Billings on ORC Equipment Construction Contracts</u></i></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">Costs and earned income on construction contracts – unbilled represent the amount by costs of contracts in process plus any estimated earned income exceeding related progress billings. Billings in excess of costs and earned income on construction contracts represent the amount by which progress billings on contracts in process exceed related costs and estimated earned income. Changes in job performance, job conditions and estimated profitability may result in revisions to costs and income and are recognized in the period in which the revisions are determined.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"><i><u>Advertising expenses</u></i></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">Advertising costs are expensed as incurred. Advertising costs were $118,794 and $13,445 for the years ended December 31, 2013 and 2012, respectively.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><i> </i></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"><i><u>Shipping and handling costs</u></i></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">All shipping and handling costs are included in cost of goods sold.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"><i><u>Foreign Currency Translation</u></i></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">The Company’s functional and reporting currency is the United States dollar. Transactions may occur in Chinese Yuan or Renminbi (“RMB”) and Costa Rican Colones (“CRC”) and management has adopted ASC 830,<i> “Foreign Currency Matters”</i>. The RMB is not freely convertible into foreign currencies. Monetary assets denominated in foreign currencies are translated using the exchange rate prevailing at the balance sheet date. Average monthly rates are used to translate revenues and expenses. The Company has not, to the date of these financial statements, entered into derivative instruments to offset the impact of foreign currency fluctuations.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Exchange gains or losses arising from foreign currency transactions are included in the determination of net income for the respective periods.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">Assets and liabilities of the Company’s operations are translated into the reporting currency, United States dollars, at the exchange rate in effect at the balance sheet dates. Revenue and expenses are translated at average rates in effect during the reporting periods. Equity transactions are recorded at the historical rate when the transaction occurred. The resulting translation adjustment is reflected as accumulated other comprehensive income, a separate component of stockholders' equity in the statement of stockholders' equity.  </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"><i><u>Comprehensive Gain or Loss</u></i></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">ASC 220,<i> “Comprehensive Income”</i>, establishes standards for the reporting and display of comprehensive income and its components in the financial statements. As of December 31, 2013, the Company has items that represent comprehensive income and, therefore, has included a schedule of comprehensive income (loss) in the financial statements.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"><i>Reclassifications</i></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">Certain prior year amounts have been reclassified to conform to the current period presentation. These reclassifications had no impact on net earnings and financial position.</p> <p style="font: 8pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt"> </p>
</us-gaap:SignificantAccountingPoliciesTextBlock>
<us-gaap:InventoryPolicyTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">Inventories in the United States and Costa Rica are stated at the lower of cost (first-in, first-out) or market. A reserve is recorded for any inventory deemed excessive or obsolete.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">Inventories in the PRC are stated at the lower of cost or market value. Cost is determined on weighted average basis and includes all expenditures incurred in bringing the goods in a saleable condition to the point of sale. The Company’s inventory reserve requirements generally fluctuate based on projected demands and market conditions. In determining the adequate level of inventories to have on hand, management makes judgments as to the projected inventory demands as compared to the current or committed inventory levels. Inventory quantities and condition are reviewed regularly and provisions for excess or obsolete inventory are recorded based on the condition of inventory and the Company’s forecast of future demand and market conditions.</p>
</us-gaap:InventoryPolicyTextBlock>
<us-gaap:PropertyPlantAndEquipmentPolicyTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">Property and equipment are stated at cost or fair value if acquired as part of a business combination. Depreciation is computed by the straight-line method and is charged to operations over the estimated useful lives of the assets. Maintenance and repairs are charged to expense as incurred. The carrying amount and accumulated depreciation of assets sold or retired are removed from the accounts in the year of disposal and any resulting gain or loss is included in results of operations. The estimated useful lives of property and equipment are as follows:</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"> </p> <table cellspacing="0" cellpadding="0" style="font: 8pt Calibri, Helvetica, Sans-Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 67%; line-height: 115%"> </td> <td style="width: 33%; border-bottom: black 1.5pt solid; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif"><b>Estimated Useful Lives</b></font></td></tr> <tr style="vertical-align: top; background-color: #CCEEFF"> <td style="line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">Building</font></td> <td style="line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">20 years</font></td></tr> <tr style="vertical-align: top; background-color: white"> <td style="line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">Machinery and equipment</font></td> <td style="line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">3 – 10 years</font></td></tr> <tr style="vertical-align: top; background-color: #CCEEFF"> <td style="line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">Furniture and fixtures</font></td> <td style="line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">5 – 7 years</font></td></tr> <tr style="vertical-align: top; background-color: white"> <td style="line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">Computers and software</font></td> <td style="line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">3 – 7 years</font></td></tr> <tr style="vertical-align: top; background-color: #CCEEFF"> <td style="line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">Motor vehicles</font></td> <td style="line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">5 years</font></td></tr> <tr style="vertical-align: top; background-color: white"> <td style="line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">Leasehold improvements</font></td> <td style="line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">Lessor of lease term or estimated useful life</font></td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
</us-gaap:PropertyPlantAndEquipmentPolicyTextBlock>
<us-gaap:NewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In March 2013, the FASB issued ASU 2013-05, “<i>Foreign Currency Matters (Topic 830)—Parent’s Accounting for the Cumulative<font style="font-family: TimesNewRomanPSMT"> </font>Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity</i>”. These amendments provide guidance on releasing Cumulative Translation Adjustments when a reporting entity (parent) ceases to have a controlling financial interest in a subsidiary or group of assets that is a nonprofit activity or a business within a foreign entity. In addition, these amendments provide guidance on the release of CTA in partial sales of equity method investments and in step acquisitions. For public entities, the amendments are effective on a prospective basis for fiscal years and interim reporting periods within those years, beginning after December 15, 2013. The amendments should be applied prospectively to derecognition events occurring after the effective date. Prior periods should not be adjusted. The Company does not expect the adoption to have a significant impact on its consolidated financial statements.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">In July 2013, the FASB issued ASU 2013-11, “<i>Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists</i>”. These amendments provide that an unrecognized tax benefit, or a portion thereof, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, except to the</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">extent that a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date to settle any additional income taxes that would result from disallowance of a tax position, or the tax law does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, then the unrecognized tax benefit should be presented as a liability. For public entities, the amendments are effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. The Company will adopt the new presentation requirements of this ASU in the first quarter of 2014.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">In April 2014, the FASB issued ASU 2014-08, “<i>Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity</i>”. The amendments in the ASU change the criteria for reporting discontinued operations while enhancing disclosures in this area. The new guidance requires expanded disclosures about discontinued operations that will provide financial statement users with more information about the assets, liabilities, income, and expenses of discontinued operations. The new guidance also requires disclosure of the pre-tax income attributable to a disposal of a significant part of an organization that does not qualify for discontinued operations reporting. The amendments in the ASU are effective in the first quarter of 2015 for public organizations with calendar year ends. Early adoption is permitted. The Company is currently in the process of evaluating the impact of the adoption on its consolidated financial statements.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
</us-gaap:NewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock>
<SSIE:DiscontinuedOperationsDisclosureTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In December 2013, the Board of Directors authorized ForceField’s management to pursue the sale of its equity interests in Baokai and Wendeng. Accordingly, the assets and liabilities of these business segments were separately reported as “assets and liabilities of discontinued operations held for sale” as of December 31, 2013 and 2012. The results of operations of these two business segments, for all periods, were separately reported as “discontinued operations”. In February 2014, the Company entered into two definitive agreements to sell and transfer its equity interests in Baokai and Wendeng. These transactions were closed on February 19, 2014. See Note 20 — Subsequent Events for additional information.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The operating results of the Company’s Baokai and Wendeng segments classified as discontinued operations are summarized below:</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="text-align: center"><font style="font-size: 8pt"><b>Year Ended December 31, 2013</b></font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="padding-bottom: 1.5pt; text-align: center"><font style="font-size: 8pt"><b>Year Ended December 31, 2012</b></font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center"><font style="font-size: 8pt"><b>Baokai</b></font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center"><font style="font-size: 8pt"><b>Wendeng</b></font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center"><font style="font-size: 8pt"><b>Total</b></font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center"><font style="font-size: 8pt"><b>Baokai</b></font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center"><font style="font-size: 8pt"><b>Wendeng</b></font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center"><font style="font-size: 8pt"><b>Total</b></font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="width: 20%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 10%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 12%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 10%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 10%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 10%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 10%"> </td> <td style="width: 1%"> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Sales</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">2,059,584</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">2,059,584</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">1,202,450</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">686,353</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">1,888,803</font></td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Cost of goods sold</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">1,977,886</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">1,977,886</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">1,178,389</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">654,207</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">1,832,596</font></td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom; text-indent: 27pt"><font style="font-size: 8pt">Gross margin</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt"> </font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">81,698</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">81,698</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">24,061</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">32,146</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">56,207</font></td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Operating expenses</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt">295,268</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">3,669,130</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">3,964,198</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">143,310</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">2,356,458</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">2,499,768</font></td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Other income (expense)</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">(156,790</font></td> <td style="vertical-align: bottom"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">(156,790</font></td> <td style="vertical-align: bottom"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">(287,449</font></td> <td style="vertical-align: bottom"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">(287,449</font></td> <td style="vertical-align: bottom"><font style="font-size: 8pt"></font></td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Provision for income taxes (benefit)</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt">(1,557</font></td> <td style="vertical-align: bottom"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">272,147</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">270,590</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">(129,788</font></td> <td style="vertical-align: bottom"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">(229,106</font></td> <td style="vertical-align: bottom"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">(358,894</font></td> <td style="vertical-align: bottom"><font style="font-size: 8pt"></font></td></tr> <tr> <td style="vertical-align: bottom; text-indent: 27pt"><font style="font-size: 8pt">Net income (loss)</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt">(293,511</font></td> <td style="vertical-align: bottom"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">(4,016,369</font></td> <td style="vertical-align: bottom"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">(4,309,880</font></td> <td style="vertical-align: bottom"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">10,539</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">(2,382,655</font></td> <td style="vertical-align: bottom"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">(2,372,116</font></td> <td style="vertical-align: bottom"><font style="font-size: 8pt"></font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The following table presents the major classes of assets and liabilities of Baokai and Wendeng classified as held for sale in the consolidated balance sheets: </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt"><b>December 31, 2013</b></font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="padding-bottom: 1.5pt; text-align: center"><font style="font-size: 8pt"><b>December 31, 2012</b></font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt"><b>Baokai</b></font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt"><b>Wendeng</b></font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt"><b>Total</b></font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt"><b>Baokai</b></font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt"><b>Wendeng</b></font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt"><b>Total</b></font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="width: 20%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 10%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 11%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 11%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 10%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 10%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 10%"> </td> <td style="width: 1%"> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt"><b>Assets:</b></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"> </td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Cash and cash equivalents</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">57,764</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">57,764</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">369,419</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">369,419</font></td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Accounts receivable, net</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">1,362,977</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">1,362,977</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">1,805,167</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">2,380,679</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">4,185,846</font></td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Inventory, net</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">993,356</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">993,356</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">323,141</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">323,141</font></td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Deferred tax assets, net</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">36,136</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">54,121</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">90,257</font></td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Prepaid expenses and other current assets</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">549,230</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">549,230</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">370,121</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">370,121</font></td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom; padding-left: 0.25in; text-indent: -0.25in"><font style="font-size: 8pt">Total current assets of discontinued operations held for sale</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">2,963,527</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">2, 963,527</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">1,841,303</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">3,497,481</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">5,338,784</font></td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Property, plant and equipment, net</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">9,093,802</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">9,093,802</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">7,547,128</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">7,547,128</font></td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Intangible assets, net</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">2,076,306</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">2,076,306</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">2,590,983</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">2,590,983</font></td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Related party receivables</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">413,061</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">413,061</font></td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Deferred tax assets, net</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">224,653</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">224,653</font></td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Other assets</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">21,956</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">21,956</font></td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom; padding-left: 0.25in; text-indent: -0.25in"><font style="font-size: 8pt">Total noncurrent assets of discontinued operations held for sale</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">11,170,108</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">11,170,108</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">10,797,781</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">10,797,781</font></td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"> </td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Liabilities:</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"> </td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Accounts payable</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">3,142,119</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">3,142,119</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">1,515,489</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">1,941,141</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">3,456,630</font></td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Accrued liabilities</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">103,958</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">103,958</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">248,349</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">248,349</font></td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Related party payables</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">8,180,490</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">8,180,490</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">5,638,840</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">5,638,840</font></td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Income taxes payable</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">23,872</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">1,183,884</font></td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Total current liabilities of discontinued operations held for sale</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">11,426,567</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">11,426,567</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">1,539,361</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">7,828,330</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">9,367,691</font></td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Deferred tax liabilities, net</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">12,619</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">12,619</font></td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Unrecognized tax benefits</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">1,324,226</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">1,324,226</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">1,160,012</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">1,160,012</font></td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom; padding-left: 0.25in; text-indent: -0.25in"><font style="font-size: 8pt">Total noncurrent liabilities of discontinued operations held for sale</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">1,324,226</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">1,324,226</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">12,619</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">1,160,012</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">1,172,631</font></td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"> </td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Net assets held for sale</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">1,382,842</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">1,382,842</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt">289,323</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt">5,306,920</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">5,596,243</font></td> <td style="vertical-align: bottom"> </td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
</SSIE:DiscontinuedOperationsDisclosureTextBlock>
<us-gaap:ScheduleOfDisposalGroupsIncludingDiscontinuedOperationsIncomeStatementBalanceSheetAndAdditionalDisclosuresTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The operating results of the Company’s Baokai and Wendeng segments classified as discontinued operations are summarized below:</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="text-align: center"><font style="font-size: 8pt"><b>Year Ended December 31, 2013</b></font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="padding-bottom: 1.5pt; text-align: center"><font style="font-size: 8pt"><b>Year Ended December 31, 2012</b></font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center"><font style="font-size: 8pt"><b>Baokai</b></font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center"><font style="font-size: 8pt"><b>Wendeng</b></font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center"><font style="font-size: 8pt"><b>Total</b></font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center"><font style="font-size: 8pt"><b>Baokai</b></font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center"><font style="font-size: 8pt"><b>Wendeng</b></font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center"><font style="font-size: 8pt"><b>Total</b></font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="width: 20%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 10%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 12%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 10%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 10%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 10%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 10%"> </td> <td style="width: 1%"> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Sales</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">2,059,584</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">2,059,584</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">1,202,450</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">686,353</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">1,888,803</font></td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Cost of goods sold</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">1,977,886</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">1,977,886</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">1,178,389</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">654,207</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">1,832,596</font></td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom; text-indent: 27pt"><font style="font-size: 8pt">Gross margin</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt"> </font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">81,698</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">81,698</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">24,061</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">32,146</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">56,207</font></td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Operating expenses</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt">295,068</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">3,669,130</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">3,964,198</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">143,310</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">2,356,458</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">2,499,768</font></td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Other income (expense)</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">(156,790</font></td> <td style="vertical-align: bottom"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">(156,790</font></td> <td style="vertical-align: bottom"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">(287,449</font></td> <td style="vertical-align: bottom"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">(287,449</font></td> <td style="vertical-align: bottom"><font style="font-size: 8pt"></font></td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Provision for income taxes (benefit)</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt">(1,557</font></td> <td style="vertical-align: bottom"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">272,147</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">270,590</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">(129,788</font></td> <td style="vertical-align: bottom"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">(229,106</font></td> <td style="vertical-align: bottom"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">(358,894</font></td> <td style="vertical-align: bottom"><font style="font-size: 8pt"></font></td></tr> <tr> <td style="vertical-align: bottom; text-indent: 27pt"><font style="font-size: 8pt">Net income (loss)</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt">(293,511</font></td> <td style="vertical-align: bottom"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">(4,016,369</font></td> <td style="vertical-align: bottom"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">(4,309,880</font></td> <td style="vertical-align: bottom"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">10,539</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">(2,382,655</font></td> <td style="vertical-align: bottom"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">(2,372,116</font></td> <td style="vertical-align: bottom"><font style="font-size: 8pt"></font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The following table presents the major classes of assets and liabilities of Baokai and Wendeng classified as held for sale in the consolidated balance sheets: </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt"><b>December 31, 2013</b></font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="padding-bottom: 1.5pt; text-align: center"><font style="font-size: 8pt"><b>December 31, 2012</b></font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt"><b>Baokai</b></font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt"><b>Wendeng</b></font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt"><b>Total</b></font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt"><b>Baokai</b></font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt"><b>Wendeng</b></font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt"><b>Total</b></font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="width: 20%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 10%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 11%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 11%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 10%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 10%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 10%"> </td> <td style="width: 1%"> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt"><b>Assets:</b></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"> </td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Cash and cash equivalents</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">57,764</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">57,764</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">369,419</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">369,419</font></td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Accounts receivable, net</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">1,362,977</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">1,362,977</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">1,805,167</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">2,380,679</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">4,185,846</font></td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Inventory, net</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">993,356</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">993,356</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">323,141</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">323,141</font></td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Deferred tax assets, net</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">36,136</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">54,121</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">90,257</font></td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Prepaid expenses and other current assets</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">549,230</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">549,230</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">370,121</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">370,121</font></td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom; padding-left: 0.25in; text-indent: -0.25in"><font style="font-size: 8pt">Total current assets of discontinued operations held for sale</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">2,963,527</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">2, 963,527</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">1,841,303</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">3,497,481</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">5,338,784</font></td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Property, plant and equipment, net</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">9,093,802</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">9,093,802</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">7,547,128</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">7,547,128</font></td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Intangible assets, net</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">2,076,306</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">2,076,306</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">2,590,983</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">2,590,983</font></td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Related party receivables</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">413,061</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">413,061</font></td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Deferred tax assets, net</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">224,653</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">224,653</font></td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Other assets</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">21,956</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">21,956</font></td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom; padding-left: 0.25in; text-indent: -0.25in"><font style="font-size: 8pt">Total noncurrent assets of discontinued operations held for sale</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">11,170,108</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">11,170,108</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">10,797,781</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">10,797,781</font></td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"> </td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Liabilities:</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"> </td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Accounts payable</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">3,142,119</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">3,142,119</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">1,515,489</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">1,941,141</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">3,456,630</font></td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Accrued liabilities</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">103,958</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">103,958</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">248,349</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">248,349</font></td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Related party payables</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">8,180,490</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">8,180,490</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">5,638,840</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">5,638,840</font></td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Income taxes payable</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">23,872</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">1,183,884</font></td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Total current liabilities of discontinued operations held for sale</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">11,426,567</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">11,426,567</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">1,539,361</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">7,828,330</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">9,367,691</font></td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Deferred tax liabilities, net</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">12,619</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">12,619</font></td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Unrecognized tax benefits</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">1,324,226</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">1,324,226</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">1,160,012</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">1,160,012</font></td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom; padding-left: 0.25in; text-indent: -0.25in"><font style="font-size: 8pt">Total noncurrent liabilities of discontinued operations held for sale</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">1,324,226</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">1,324,226</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">12,619</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">1,160,012</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">1,172,631</font></td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"> </td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Net assets held for sale</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt"></font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">1,382,842</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">1,382,842</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt">289,323</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt">5,306,920</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">5,596,243</font></td> <td style="vertical-align: bottom"> </td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
</us-gaap:ScheduleOfDisposalGroupsIncludingDiscontinuedOperationsIncomeStatementBalanceSheetAndAdditionalDisclosuresTextBlock>
<us-gaap:StockholdersEquityNoteDisclosureTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><i><u>Reverse Stock Split</u></i></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">On October 9, 2012, the Company effectuated a one-for-two reverse split of its preferred and common stock. All references in these consolidated financial statements to the number of preferred shares, common shares or warrants, price per share and weighted average number of common shares outstanding prior to the 1:2 reverse stock split have been adjusted to reflect this stock split on a retroactive basis, unless otherwise noted.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><i><u>Preferred stock</u></i></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The Company is authorized to issue 12,500,000 shares of preferred stock at a par value of $0.001. At December 31, 2013 and 2012, no shares of preferred stock were issued or outstanding.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><i><u>Common stock</u></i></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company is authorized to issue 37,500,000 shares of common stock at a par value of $0.001. At December 31, 2013 and 2012, shares of common stock totaling 17,033,531 and 16,080,815 were issued and outstanding, respectively.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><i><u>Common Stock Issued in Private Placements</u></i></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On September 5, 2011, the Company commenced a private offering of 1.5 million shares at $6.00 per share.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In February 2012, the Company amended this offering by reducing the share price from $6.00 to $4.00 per share. Following the February 2012 amendment, the Company accepted subscription agreements from investors and issued 12,500 shares of its common stock for gross proceeds totaling $50,000. The cost of these issuances was $5,000. Additionally, the Company accepted subscription agreements from two of its officers and issued 37,500 shares of its common stock for gross proceeds totaling $150,000. The purchase of these shares is consistent with the terms of the Company’s private placement described above. There was no cost associated with the officer issuances.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On July 1, 2012, the Company modified its offering to include one stock purchase warrant per share of common stock sold. The stock purchase warrants are exercisable at $4.00 per share and expire one year from their date of issuance. Since the July 1, 2012 modification through the date of December 31, 2012, the Company has accepted subscription agreements from investors and issued 575,250 shares of its common stock and 562,750 stock purchase warrants for gross proceeds totaling $2,276,000. The cost of these issuances was $227,600. Using the Black-Scholes model, the Company allocated a relative fair value of $945,872 to these stock purchase warrants.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the year ended December 31, 2013, the Company accepted subscription agreements from investors and issued 830,250 shares of its common stock and 842,750 stock purchase warrants for gross proceeds totaling $3,321,000. The cost of these issuances was $332,100. The stock purchase warrants have been accounted for as equity in accordance with FASB ASC 480, Accounting for Derivative Financial Instruments Indexed to, and Potentially Settled in, a Company’s Own Stock, Distinguishing Liabilities from Equity. Using the Black-Scholes model, the Company allocated a relative fair value of $1,139,550 to these stock purchase warrants.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><i><u>Common Stock Issued in Exchange for Consulting, Professional and Other Services</u></i></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><i> </i></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">During the year ended December 31, 2012, the Company issued 37,395 shares of its common stock in exchange for various services. These issuances were comprised of 10,000 shares valued at $4.00 per share issued in lieu of cash to settle outstanding accounts payable aggregating $40,000; 18,145 shares valued at $72,000 to its independent directors per the terms of their compensation agreements; 5,000 shares valued at $27,000 to an independent contractor per the terms of its distribution agreement; and 4,250 shares valued at $18,400 in promotional activities to attendees of various financing events hosted by the Company.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">During the year ended December 31, 2013, the Company issued 28,716 shares of its common stock in exchange for various services. A total number of 14,832 shares valued at $78,000 were issued to three independent directors per the terms of the compensation agreement. In the meantime, 6,620 common shares were issued to four contractors as compensation for their services with a fair value of 34,692. The Company also issued 7,264 shares with a fair value of $38,076 in promotional activities to attendees of various financing events hosted by the Company.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Each share issuance made in exchange for services was valued based upon the trading price of the Company’s common stock on its respective date of award.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><i><u>Common Stock Issued in the Acquisition of Distribution Rights</u></i></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On August 27, 2012, the Company entered into a five year distribution agreement with Lightsky located in Shanghai, China whereby it became the exclusive distributor of Lightsky’s LED lighting products in the United States, Canada and Mexico. The Company issued 150,000 shares of its common stock valued at $780,000, or $5.20 per share, which represented the quoted market price on the date of the transaction. The shares are restricted for an eighteen month period following their date of issuance (see Note 9 — Goodwill and Intangible Assets, Net).</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><i> </i></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><i><u>Stock Purchase Warrants</u></i></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The following table reflects all outstanding and exercisable stock purchase warrants for the periods ended December 31, 2012 and December 31, 2013: </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Number of</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Warrants</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Outstanding</b></p></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Weighted Average</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Exercise Price</b></p></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Remaining</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Contractual</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Life (Years)</b></p></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 64%; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">Balance, December 31, 2011</font></td> <td style="width: 1%; text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt"></font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt"></font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"> </td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt"></font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">Warrants issued</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">562,750</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">4.00</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">0.71</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">Warrants exercised</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt"></font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt"></font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt"></font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">Warrants forfeited</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt"></font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt"></font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt"></font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font-size: 10pt">Balance, December 31, 2012</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><font style="font-size: 10pt">562,750</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><font style="font-size: 10pt">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><font style="font-size: 10pt">4.00</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><font style="font-size: 10pt">0.71</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">Warrants issued</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">842,750</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">4.00</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">0.79</font></td> <td style="font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">Warrants exercised</font></td> <td style="padding-bottom: 1.5pt; text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">(93,750</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt"></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">4.00</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt"></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">Warrants forfeited</font></td> <td style="padding-bottom: 1.5pt; text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">(481,500</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">)</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">4.00</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt"></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; background-color: white; font: 8pt Times New Roman, Times, Serif"> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">Balance December 31, 2013</font></td> <td style="padding-bottom: 3pt; text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 2.25pt double; font: 8pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 2.25pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font-size: 10pt">830,250</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 2.25pt double; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font-size: 10pt">4.00</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 2.25pt double; font: 8pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 2.25pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font-size: 10pt">0.80</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"> </td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">All stock purchase warrants are exercisable for a period of one year from the date of issuance. The remaining contractual life of the stock purchase warrants outstanding as of December 31, 2013 ranged from 0.10 to 1.0 years.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">During the year ended December 31, 2013, the Company issued 93,750 shares of its common stock for gross proceeds totaling $375,000 following the exercise of an equal amount of stock purchase warrants. The cost of these issuances was $37,500. No stock purchase warrants were exercised during the year ended December 31, 2012.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">  </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The value of the stock purchase warrants was determined using the following Black-Scholes methodology:</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="6" style="border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font-size: 8pt"><b>For the Years Ended</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font-size: 8pt"><b>December 31, 2013</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font-size: 8pt"><b>December 31, 2012</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif"> </td> <td style="font: 8pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: top; width: 78%; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">Expected dividend yield (1) </font></td> <td style="vertical-align: bottom; width: 1%; text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; width: 1%; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: top; width: 8%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">0.00</font></td> <td style="vertical-align: top; width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">%</font></td> <td style="vertical-align: bottom; width: 1%; text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; width: 1%; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: top; width: 8%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">0.00</font></td> <td style="vertical-align: top; width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">%</font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: top; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">Risk-free interest rate (2)</font></td> <td style="vertical-align: bottom; text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: top; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">0.09 – 0.15</font></td> <td style="vertical-align: top; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">%</font></td> <td style="vertical-align: bottom; text-align: right; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: top; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">0.16 – 0.21</font></td> <td style="vertical-align: top; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">%</font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: top; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">Expected volatility (3)</font></td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: top; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">16.69 – 145.28</font></td> <td style="vertical-align: top; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">%</font></td> <td style="vertical-align: bottom; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: top; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">111.94 – 152.31</font>%</td> <td style="vertical-align: top; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">%</font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: top; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">Expected life (in years)</font></td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: top; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">1.00</font></td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">   </font></td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td> <td style="vertical-align: top; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">1.00</font></td> <td style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> </td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">_____________</p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top; font: 8pt Times New Roman, Times, Serif"> <td style="width: 5%; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">(1)</font></td> <td style="width: 95%; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">The Company has no history or expectation of paying cash dividends on its common stock.</font></td></tr> <tr style="vertical-align: top; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">(2)</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">The risk-free interest rate is based on the U.S. Treasury yield for a term consistent with the expected life of the awards in effect at the time of grant.</font></td></tr> <tr style="vertical-align: top; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">(3)</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font-size: 10pt">The volatility of the Company’s common stock is based on trading activity for the previous one year period ended at each stock purchase warrant contract date.</font></td></tr> </table>
</us-gaap:StockholdersEquityNoteDisclosureTextBlock>
<SSIE:Building contextRef="From2013-01-01to2013-12-31"> 20 years </SSIE:Building>
<SSIE:MachinesAndEquipment contextRef="From2013-01-01to2013-12-31"> 2-10 years </SSIE:MachinesAndEquipment>
<SSIE:FurnitureAndFixtures contextRef="From2013-01-01to2013-12-31"> 5-7 years </SSIE:FurnitureAndFixtures>
<SSIE:MotorVehicles contextRef="From2013-01-01to2013-12-31"> 5 years </SSIE:MotorVehicles>
<SSIE:LeaseholdImprovements contextRef="From2013-01-01to2013-12-31"> Lessor of lease term or estimated useful life </SSIE:LeaseholdImprovements>
<SSIE:ComputersAndSoftware contextRef="From2013-01-01to2013-12-31"> 3-7 years </SSIE:ComputersAndSoftware>
<us-gaap:ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock contextRef="From2013-01-01to2013-12-31">
<table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"><tr style="vertical-align: bottom"><td style="padding-bottom: 1.5pt; text-align: right"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="padding-bottom: 1.5pt"> </td> <td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td> <td colspan="11" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt"><b>December 31, 2013</b></font></td> <td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td> <td colspan="11" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt"><b>December 31, 2012</b></font></td> <td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="2" style="text-align: center"><font style="font-size: 8pt"><b>Amortization</b></font></td> <td nowrap="nowrap"> </td> <td colspan="3" style="text-align: center"><font style="font-size: 8pt"><b>Gross</b></font></td> <td nowrap="nowrap"> </td> <td colspan="3"> </td> <td nowrap="nowrap"> </td> <td colspan="3" style="text-align: center"><font style="font-size: 8pt"><b>Net</b></font></td> <td nowrap="nowrap"> </td> <td colspan="3" style="text-align: center"><font style="font-size: 8pt"><b>Gross</b></font></td> <td nowrap="nowrap"> </td> <td colspan="3"> </td> <td nowrap="nowrap"> </td> <td colspan="3" style="text-align: center"><font style="font-size: 8pt"><b>Net</b></font></td> <td nowrap="nowrap"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="2" style="text-align: center"><font style="font-size: 8pt"><b>Period</b></font></td> <td nowrap="nowrap"> </td> <td colspan="3" style="text-align: center"><font style="font-size: 8pt"><b>Carrying</b></font></td> <td nowrap="nowrap"> </td> <td colspan="3" style="text-align: center"><font style="font-size: 8pt"><b>Accumulated</b></font></td> <td nowrap="nowrap"> </td> <td colspan="3" style="text-align: center"><font style="font-size: 8pt"><b>Book</b></font></td> <td nowrap="nowrap"> </td> <td colspan="3" style="text-align: center"><font style="font-size: 8pt"><b>Carrying</b></font></td> <td nowrap="nowrap"> </td> <td colspan="3" style="text-align: center"><font style="font-size: 8pt"><b>Accumulated</b></font></td> <td nowrap="nowrap"> </td> <td colspan="3" style="text-align: center"><font style="font-size: 8pt"><b>Book</b></font></td> <td nowrap="nowrap"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt"><b>(Years)</b></font></td> <td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td> <td colspan="3" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt"><b>Amount</b></font></td> <td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td> <td colspan="3" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt"><b>Amortization</b></font></td> <td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td> <td colspan="3" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt"><b>Value</b></font></td> <td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td> <td colspan="3" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt"><b>Amount</b></font></td> <td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td> <td colspan="3" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt"><b>Amortization</b></font></td> <td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td> <td colspan="3" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt"><b>Value</b></font></td> <td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> </td> <td style="text-align: right"> </td> <td colspan="2" style="text-align: right"> </td> <td nowrap="nowrap"> </td> <td> </td> <td colspan="2"> </td> <td nowrap="nowrap"> </td> <td> </td> <td colspan="2"> </td> <td nowrap="nowrap"> </td> <td> </td> <td colspan="2"> </td> <td nowrap="nowrap"> </td> <td> </td> <td colspan="2"> </td> <td nowrap="nowrap"> </td> <td> </td> <td colspan="2"> </td> <td nowrap="nowrap"> </td> <td> </td> <td colspan="2"> </td> <td nowrap="nowrap"> </td></tr> <tr style="vertical-align: bottom"> <td><font style="font-size: 8pt">Intangible assets subject to amortization:</font></td> <td> </td> <td colspan="2"> </td> <td nowrap="nowrap"> </td> <td> </td> <td colspan="2"> </td> <td nowrap="nowrap"> </td> <td> </td> <td colspan="2"> </td> <td nowrap="nowrap"> </td> <td> </td> <td colspan="2"> </td> <td nowrap="nowrap"> </td> <td> </td> <td colspan="2"> </td> <td nowrap="nowrap"> </td> <td> </td> <td colspan="2"> </td> <td nowrap="nowrap"> </td> <td> </td> <td colspan="2"> </td> <td nowrap="nowrap"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 16%"><font style="font-size: 8pt">Exclusive distribution rights</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">5.0</font></td> <td nowrap="nowrap" style="width: 1%"> </td> <td style="width: 1%; text-align: right"> </td> <td style="width: 1%"> </td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">780,000</font></td> <td nowrap="nowrap" style="width: 1%"> </td> <td style="width: 1%; text-align: right"> </td> <td style="width: 1%"> </td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">(208,000)</font></td> <td nowrap="nowrap" style="width: 1%"> </td> <td style="width: 1%; text-align: right"> </td> <td style="width: 1%"> </td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">572,000</font></td> <td nowrap="nowrap" style="width: 1%"> </td> <td style="width: 1%; text-align: right"> </td> <td style="width: 1%"> </td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">780,000</font></td> <td nowrap="nowrap" style="width: 1%"> </td> <td style="width: 1%; text-align: right"> </td> <td style="width: 1%"> </td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">(52,000)</font></td> <td nowrap="nowrap" style="width: 1%"> </td> <td style="width: 1%; text-align: right"> </td> <td style="width: 1%"> </td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">728,000</font></td> <td nowrap="nowrap" style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Technology</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: right"><font style="font-size: 8pt">15.0</font></td> <td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: right"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">1,583,000</font></td> <td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: right"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(145,108)</font></td> <td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: right"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">1,437,892</font></td> <td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: right"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">1,583,000</font></td> <td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: right"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(39,575)</font></td> <td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: right"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">1,543,425</font></td> <td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td nowrap="nowrap"> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td nowrap="nowrap"> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td nowrap="nowrap"> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td nowrap="nowrap"> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td nowrap="nowrap"> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td nowrap="nowrap"> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td nowrap="nowrap"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 0.25pc"><font style="font-size: 8pt">Total</font></td> <td style="padding-bottom: 0.25pc"> </td> <td> </td> <td style="padding-bottom: 0.25pc; text-align: right"> </td> <td nowrap="nowrap" style="padding-bottom: 0.25pc"> </td> <td style="padding-bottom: 0.25pc; text-align: right"> </td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">2,363,000</font></td> <td nowrap="nowrap" style="padding-bottom: 0.25pc"> </td> <td style="padding-bottom: 0.25pc; text-align: right"> </td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">(353,108)</font></td> <td nowrap="nowrap" style="padding-bottom: 0.25pc"> </td> <td style="padding-bottom: 0.25pc; text-align: right"> </td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">2,009,892</font></td> <td nowrap="nowrap" style="padding-bottom: 0.25pc"> </td> <td style="padding-bottom: 0.25pc; text-align: right"> </td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">2,363,000</font></td> <td nowrap="nowrap" style="padding-bottom: 0.25pc"> </td> <td style="padding-bottom: 0.25pc; text-align: right"> </td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">(91,575)</font></td> <td nowrap="nowrap" style="padding-bottom: 0.25pc"> </td> <td style="padding-bottom: 0.25pc; text-align: right"> </td> <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">2,271,425</font></td> <td nowrap="nowrap" style="padding-bottom: 0.25pc"> </td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
</us-gaap:ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock>
<us-gaap:CommitmentsDisclosureTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">ForceField leases its principal offices in New York at a total annual cost of approximately $6,000.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The Company leases two additional properties. The first is for administrative offices totaling approximately 1,000 square feet located in Escazu, Costa Rica. The lease is for a one year term with monthly gross rents of $2,190. The initial term expires in December 2014. The second is for administrative offices and warehousing totaling 1,228 square feet located in Carlsbad, CA. The lease is for a one year term with monthly gross rents of $1,166. The current term expires in March 2014.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The lease expenses were $22,225 and $12,998  for the years ended December 31, 2013 and 2012, respectively. As of December 31, 2013, future minimum rental payment is $27,588  for 2014.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">A claim was made by the Company against TransPacific Energy, Inc. and certain managing shareholders asserting breaches of a Share Exchange Agreement entered on May 10, 2012 by and between the Company and ACME Energy Inc., Apela Holdings, ABH Holdings, and TransPacific Energy, Inc. The claimed breaches were presented to counsel for TransPacific Energy, Inc. and its two primary managing shareholders by letter dated February 13, 2014. By letter dated February 19, 2014, counsel for TransPacific and its two primary managing shareholders denied the breaches and stated their intent to counterclaim for fraud, breach of contract, and other related claims. The Company, TransPacific Energy, Inc., and its two primary managing shareholders have been in settlement discussions and the parties have agreed on the material terms of a settlement. However, a formal settlement agreement has not yet been documented. No amounts have been accrued on the financial statements for any loss contingency because the Company deems the amounts involved to be immaterial.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">ForceField entered into various engagement agreements for advisory and consulting services on a non-exclusive basis to obtain equity capital. In the event that the Company completes a financing from a funding source provided by one of the consultants, then such consultant will receive a finders or referral fee at closing ranging from five percent (5%) to ten percent (10%) of the amount received by the Company. The terms and condition of financing are subject to Company approval.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 200pt"></p>
</us-gaap:CommitmentsDisclosureTextBlock>
<us-gaap:SubsequentEventsTextBlock contextRef="From2013-01-01to2013-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">On February 2, 2014, ForceField completed a purchase of assets from Catalyst LED’s LLC (“Catalyst”), located in Idaho, for cash consideration totaling $200,000 and 5,000 shares of the Company’s common shares. Catalyst is a provider of customized LED lighting products and solutions and an authorized vendor for a number of leading companies.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">On February 19, 2014, ForceField divested its TCS operations and two operating segments by completing a sale of its 60% interest in the TCS production company, Wendeng He Xie Silicon Co., Ltd. (“Wendeng”), to the minority owner of Wendeng, and concluded its TCS distribution operations at Zibo Baokai Commerce and Trade Co., Ltd. (“Baokai”). Upon the closing of the Wendeng transaction, the Company paid $50,000 in cash consideration and received 1,462,097 shares of its restricted common stock, valued at approximately $8.6 million based upon the closing market price on February 19, 2014 of $5.87, for the sale of its 60% equity interest in Wendeng to the minority owner of Wendeng. This common stock was placed in treasury and reduced the Company’s issued and outstanding share count. With the closing of the Baokai transaction the Company concluded its Chinese distribution operations and transferred its 90% equity interest in Baokai to the minority owners of Baokai. Under the terms of its agreement with Baokai the Company paid them $10,000 to indemnify the Company from any present or future obligations or liabilities, which were assumed in totality by the minority owners under the terms of each agreement.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">In furtherance of the Company’s focus on its LED operating segment, on March 26, 2014, ForceField announced the signing of a letter of intent (“LOI”) to acquire American Lighting & Distribution ("ALD"), a profitable San Diego, California award-winning, leading energy-efficient, commercial lighting specialist with over 20,000 installed customers and standing relationships with many of the major California utility companies. Subject to certain conditions to closing, the Company expects to close the transaction on or before May 1, 2014.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Consideration for the acquisition of ALD will include a combination of cash, stock and a secured promissory note. In addition, the transaction will include additional performance-based compensation payable only upon ALD achieving agreed revenue and performance milestones over the three years following closing. In order to secure the exclusive opportunity to purchase ALD by May 1, 2014, the Company made a good-faith payment of $100,000 to ALD, $50,000 of which shall be treated by the parties as an advance on the cash portion of the purchase consideration and the remaining $50,000 shall be non-refundable by the Company under any circumstance and shall not otherwise be credited against any portion of the purchase price. The closing of the transaction is subject to our obtaining additional working capital financing and other customary closing conditions.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> In January 2014, the Company commenced a private placement of convertible promissory notes, which accrue interest at a rate of 7% annually, mature in three years from issuance, are convertible at option of holder into shares of the Company common stock at a price of $7.00 per share if converted in the first year from issuance, and at $9.00 per share if converted in the second or third year from issuance, and are redeemable by the Company at any time at a 110% of principal and interest purchase price (“Note Offering”). The Note Offering was closed on February 14, 2014. The Company received total proceeds of $50,000 from the Note Offering.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">On February 14, 2014, the board of the Company approved an offering of up to 110 units at $50,000 per unit or $5,500,000. Each unit is comprised of a maximum number of 12,500 shares of restricted common stock and a number of warrants of which the number of warrant shares cannot exceed the number of common stock issued. As of the date of the report, the Company has issued 166,500 common shares and $666,000 warrant shares for total proceeds of $716,000 related to this equity offering.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
</us-gaap:SubsequentEventsTextBlock>
</xbrli:xbrl>


3 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

11/06/14  SEC                               UPLOAD10/07/17    1:126K ForceField Energy Inc.
10/21/14  SEC                               UPLOAD10/07/17    1:138K ForceField Energy Inc.
 9/12/14  SEC                               UPLOAD10/07/17    1:175K ForceField Energy Inc.
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Filing Submission 0001354488-14-001893   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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