Credit One Financial (COFI) 10-Q 6 Nov 14 2014 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	9 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2014	Jun. 30, 2014
Document and Entity Information:	'	'
Entity Registrant Name	'Credit One Financial Inc	'
Document Type	'10-Q	'
Document Period End Date	30-Sep-14	'
Amendment Flag	'false	'
Entity Central Index Key	'0001201135	'
Current Fiscal Year End Date	'--12-31	'
Entity Common Stock, Shares Outstanding	326,155,623	'
Entity Public Float	'	$353,193
Entity Filer Category	'Large Accelerated Filer	'
Entity Current Reporting Status	'Yes	'
Entity Voluntary Filers	'No	'
Entity Well-known Seasoned Issuer	'No	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q3	'

CREDIT_ONE_FINANCIAL_INC_Conso

CREDIT ONE FINANCIAL, INC. - Consolidated Balance Sheets (USD $)	Sep. 30, 2014		Dec. 31, 2013
Assets, Current	'		'
Cash and Cash Equivalents, at Carrying Value	$763,641		$2,086,943
Prepaid Expense and other current assets	721,159		753,685
Assets, Current	1,484,800		2,840,628
Assets, Noncurrent	'		'
Property, Plant and Equipment, Net	54	[1]	498	[2]
Trademark, Net	94,776		77,320
Note receivable	6,041,276		4,783,768
Intangible assets	3,687,210	[3]	3,582,116	[4]
Assets	11,308,116		11,284,330
Liabilities, Current	'		'
Accounts Payable and accrued liabilities	332,099		201,926
Deferred Revenue and Credits, Current	48,303		'
Liabilities, Current	380,402		201,926
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	'		'
Common Stock, Value, Issued	326,156		326,156
Additional Paid in Capital, Common Stock	12,589,304		12,589,304
Accumulated Other Comprehensive Income (Loss), Net of Tax	-12,825		675
Retained Earnings (Accumulated Deficit)	-1,974,921		-1,833,731
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	10,927,714		11,082,404
Stockholders' Equity, Number of Shares, Par Value and Other Disclosures	'		'
Common Stock, Shares Authorized	500,000,000		500,000,000
Common Stock, Shares Issued	326,155,623		326,155,623
Common Stock, Shares Outstanding	326,155,623		326,155,623
Common Stock, Value, Outstanding	326,156		326,156
Liabilities and Equity	$11,308,116		$11,284,330
[1]	Net of accumulated depreciation of $6,503 as of September 30, 2014.
[2]	Net of accumulated depreciation of $6,058 as of December 31, 2013.
[3]	Net of accumulated amortization of $1,838,606 as of September 30, 2014.
[4]	Net of accumulated amortization of $1,390,315 as of December 31, 2013.

CREDIT_ONE_FINANCIAL_INC_Conso1

CREDIT ONE FINANCIAL, INC. - Consolidated Statements of Operations and Comprehensive Income (loss) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Revenues	'	'	'	'
Revenue from advertising	$48,380	$173,578	$145,081	$557,870
Revenue from TV program	'	'	'	3,996
Revenues	48,380	173,578	145,081	561,866
Operating Expenses	'	'	'	'
Selling, General and Administrative Expense	246,261	293,579	718,678	878,573
Operating Expenses	246,261	293,579	718,678	878,573
Operating Income (Loss)	-197,881	-120,001	-573,597	-316,707
Investment Income, Nonoperating	'	'	'	'
Interest income	135,443	100,048	431,732	292,588
Unrealized gain (loss) on investment	'	301,934	'	-832,984
Nonoperating Income (Expense)	135,443	401,982	431,732	-540,396
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest	-62,438	281,981	-141,865	-857,103
Income (Loss) from Continuing Operations, Including Portion Attributable to Noncontrolling Interest	-62,438	281,981	-141,865	-857,103
Net Income (loss)	-62,438	281,981	-141,865	-857,103
Other comprehensive income (loss)	'	'	'	'
Foreign currency translation adjustment	-16,988	2,880	-12,825	-837
Total comprehensive income (loss)	($79,426)	$284,861	($154,690)	($857,940)
Earnings Per Share	'	'	'	'
Weighted Average Number of Shares Outstanding, Basic and Diluted	326,155,623	326,155,623	326,155,623	326,155,623

CREDIT_ONE_FINANCIAL_INC_Conso2

CREDIT ONE FINANCIAL, INC. - Consolidated Statements of Cash Flows (USD $)	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Net Cash Provided by (Used in) Operating Activities	'	'
Net Income (loss)	($141,865)	($857,103)
Adjustments, Noncash Items, to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities	'	'
Accretion of interest on note receivable	-431,715	-292,588
Amortization of intangible asset	450,455	393,791
Depreciation	444	1,338
Unrealized (gain) loss on investment	'	832,984
Increase (Decrease) in Operating Assets	'	'
Increase (Decrease) in Receivables	'	-3,993
Increase (Decrease) in Prepaid Expense and Other Assets	32,524	253,229
Increase (Decrease) in Accounts Payable and Accrued Liabilities	130,011	122,932
Increase (Decrease) in Deferred Revenue	48,303	-519,197
Net Cash Provided by (Used in) Operating Activities	88,157	-68,612
Net Cash Provided by (Used in) Investing Activities	'	'
Investment in note receivable	-1,392,776	-600,000
Payments to Acquire Intangible Assets	-17,456	-16,221
Proceeds from sale of gold bullion	'	257,815
Net Cash Provided by (Used in) Investing Activities	-1,410,232	-358,912
Net Cash Provided by (Used in) Financing Activities	'	'
Proceeds from Issuance of Common Stock	'	720,000
Payment of loan from related party	'	-275,593
Net Cash Provided by (Used in) Financing Activities	'	444,407
Effect of exchange rate on cash and cash equivalents	-1,227	2,823
Cash and Cash Equivalents, Period Increase (Decrease)	-1,323,302	19,706
Cash and Cash Equivalents, at Carrying Value	2,086,943	200,791
Cash and Cash Equivalents, at Carrying Value	$763,641	$220,496

Note_1_nature_of_Business

Note 1 -nature of Business	9 Months Ended
	Sep. 30, 2014
Notes	'
Note 1 -nature of Business	'
	Note 1 –Nature of Business
	Credit One Financial, Inc. (the “Company”) was incorporated in the State of Florida on September 24, 1999.  The Company was engaged in market research regarding the cost and availability of non-performing credit card debt portfolios.  It was also engaged in research regarding the current market price for re-performing portfolios as well as the market prices offered for portfolios deemed non-collectable at the time of sale.
	In February 2008, the Company entered into a Joint Venture Agreement with Global Select Limited in Hong Kong. Under the agreement, a joint venture company, Moderation Limited, was set up in Hong Kong, whereby, on January 12, 2009, the Company contributed $16 million Hong Kong dollars, approximately $2.06 million, in exchange for 51.6% of the equity interest in Moderation, and Global Select and its partner together contributed $15 million Hong Kong dollars, approximately $1.94 million, for 48.4% of the equity interest in Moderation. The purpose of the joint venture is to engage in a business of natural resources products, primarily graphite at this time, in China.
	In January 2009, Moderation Limited established a wholly owned subsidiary “Liaoning Sinorth Resources Co., Ltd.” in Yingkou, Liaoning Province, China. The main business of Liaoning Sinorth Resources Co., Ltd. is processing and distribution of mineral products, primarily graphite, in China.
	In August 2010, the Company established a wholly owned subsidiary “E&M International Limited (“E&M”)” in the Cayman Islands.  The purpose of E&M is to conduct its operations in the business of entertainment and media. On September 16, 2010, E&M changed its name to CEM International Ltd. (“CEM”).
	On November 18, 2010, the Company entered into a share purchase agreement with China Minerals International Limited (“China Minerals”).  Pursuant to the share purchase agreement, the Company agreed to sell and China Minerals agreed to acquire the Company’s 51.6% equity interest in Moderation Limited (“Moderation”), a subsidiary of the Company located in Hong Kong, for $16 million Hong Kong dollars, approximately $2.06 million in cash. The transaction was closed on November 30, 2010.

Note_2_Summary_of_Significant_

Note 2 - Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2014
Notes	'
Note 2 - Summary of Significant Accounting Policies	'
	Note 2 - Summary of Significant Accounting Policies
	Basis of presentation
	The accompanying interim consolidated financial statements for the nine months ended September 30, 2014 and 2013 are unaudited and have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X.  Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements.  In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included.  The results of operations realized during an interim period are not necessarily indicative of results to be expected for a full year. These consolidated financial statements should be read in conjunction with the information filed as part of the Company’s 2013 Annual Report on Form 10-K, which was filed on March 10, 2014.
	Principles of Consolidation
	The Company prepares its consolidated financial statements in conformity with accounting principles generally accepted in the United States of America. Revenues and expenses are reported on the accrual basis, which means that income is recognized as it is earned and expenses are recognized as they are incurred.
	Management is solely responsible for adopting sound accounting practices, establishing and maintaining a system of internal accounting control and preventing and detecting fraud. The Company's system of internal accounting control is designed to assure, among other items, that (1) recorded transactions are valid; (2) valid transactions are recorded; and (3) transactions are recorded in the proper period in a timely manner to produce financial statements which present fairly the financial condition, results of operations and cash flows of the Company for the respective periods being presented.
	The consolidated financial statements presented the financial position and the results of operations of Credit One Financial, Inc. and its 100% owned subsidiary, CEM International Ltd.
	All significant intercompany transactions and balances have been eliminated in consolidation.
	Provision for Income Taxes
	Deferred income taxes result from temporary differences between the basis of assets and liabilities recognized for differences between the financial statement and tax basis thereon, and for the expected future tax benefits to be derived from net operating losses and tax credit carry forwards. The Company has approximately $598,063 in U.S. net operating loss carry-forwards and $1,377,524 in Macau net operating loss carry-forwards as of September 30, 2014, and a valuation allowance equal to the tax benefit of the accumulated net operating losses has been established since it is uncertain that future taxable income from operations in the United States of America will be realized during the applicable carry-forward periods.  The net operating loss carry-forwards may be limited under the change of control provisions of the Internal Revenue Code, Section 382.
	The Company applies the provisions of income tax accounting standards for uncertainty in income taxes, which prescribe 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.  The amount recognized is measured as the largest amount of benefit that has a greater than 50% likelihood of being realized upon ultimate settlement.  When applicable, the Company will include interest and penalties related to uncertain tax positions in income tax expense.
	Use of Estimates in the Preparation of the Financial Statements
	The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, 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.  Actual results could differ from those estimates and those differences could be material.
	Fair Value Measurements
	The Company follows accounting guidance relating to fair value measurements. This guidance establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three levels as follows:
	Level 1 – quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access as of the measurement date.
	Level 2 – inputs other than quoted prices included within Level 1 that are directly observable for the asset or liability or indirectly observable through corroboration with observable market data.
	Level 3 – unobservable inputs for the asset or liability only used when there is little, if any, market activity for the asset or liability at the measurement date.
	The asset or liability’s fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair measurement. Valuation techniques used need to maximize the use of observable inputs and minimize the unobservable inputs.
	The fair value of the Company’s financial instruments, which consist principally of cash and cash equivalents and investments in gold bullion, are based on level 1 input, and equal carrying amounts.
	Cash and Equivalents
	For purposes of the statement of cash flows, the Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.
	As of September 30, 2014, the Company maintained $710,403 in foreign bank accounts not subject to FDIC coverage.  The remaining balance of $53,239 at September 30, 2014 was maintained in a domestic bank account and fully insured by FDIC.
	Investment in Gold Bullion
	The Company invested in gold bullion. As a precious metal, the investment in gold bullion was stated at its monetary fair value as determined by the Chinese Gold & Silver Exchange Society. Any adjustments to the fair value of the investments were recorded in unrealized gain or loss on the accompanying consolidated statements of operations and comprehensive income (loss).
	In September 2012, the Company entered into a Trust Agreement with William G. Hu, Esq. as the trustee to hold the Company’s gold bullions. Upon receipt of the gold bullions, the trustee issued electronic receipts, each known as a “Goldeq”, which can be used, in lieu of gold, as an intermediary to facilitate the exchange of goods and services conducted on the Company’s proposed joint venture with Lotus TV, in which a series of interactive game shows will be launched via satellite TV and the Internet for viewers throughout the world to participate, and Lotus TV will provide broadcasting time. To date, the Company is still in design and development stage of the above project.
	In addition to its investment in gold bullion, the Company also received gold bullion as payment from sale of advertising time.  In September 2012, the Company entered into an Advertising Time Purchase Agreement with Scientific Energy, Inc. in exchange for $2,014,825 of gold bullion.  The terms of the contract provide that the Company will sell 10,000 minutes of advertising time divided into 30-second time slots for a total of 20,000 advertising slots. As a result, the Company received 190 gold bullions, 5-tael per bullion, valued at $2,014,825 at that time.
	On February 17, 2013 and on December 12, 2013, the Company sold its all gold bullion on hand for $26,249,236 Hong Kong dollars (approximately US$3,384,203) in cash, which resulted in a cumulative loss of approximately $1,206,798 since the gold was acquired in 2012 and 2011.
	In December 2013, Scientific Energy, Inc. decided that the remaining unused advertising time would no longer be needed, and the Company agreed to refund to it for the unused advertising time on Lotus TV in the aggregate amount of $7,593,834.93 Hong Kong dollars (approximately US$979,218) , which represented 6,750 minutes of unused advertising TV time.
	Foreign Currency
	The Company reports it financial position and results of operations in U.S. dollars.  For its subsidiaries that have functional currencies that are foreign currencies, the elements of the financial statements are translated by using a current exchange rate.  Assets and liabilities were translated at exchange rates as of the balance sheet date.  Revenues, expenses, gains and losses were translated at average exchange rates in effect for the periods presented.  Transaction adjustments result from the process of translating the subsidiaries’ financial statements into US dollars and are not included in determining net income, but are reported in other comprehensive income.  There was currency translation adjustment of $(16,988) and $2,880 for the three months ended September 30, 2014 and 2013, respectively, and $(12,824) and $(837) for the nine months ended September 30, 2014 and 2013, respectively.
	Foreign currency transactions are transactions denominated in a currency other than the entity's functional currency.  At the date the transaction is recognized, each asset, liability, revenue, expense, gain, or loss arising from the transaction is measured and recorded in the functional currency of the recording entity by use of the exchange rate in effect at that date. At each balance sheet date, recorded balances that are denominated in a currency other than the functional currency of the recording entity are adjusted to reflect the current exchange rate, with any resulting differences reported in the current period statement of operations.
	Revenue Recognition
	The Company recognizes revenue in accordance with Securities and Exchange Commission revenue recognition accounting standards.
	As an advertising agent, CEM is in the service business dedicated to creating, planning and handling advertising for its clients.  Advertising revenue is recognized upon the delivery of the contracted advertising services and when no significant Company performance obligation remains. Advance payments for advertising are recorded as deferred revenue. Service revenue is recognized as the contracted services are rendered.
	In September 2012, the Company entered into an advertising agreement in exchange for $2,014,825 of gold bullion.  During the years ended December 31, 2013, $504,752 of revenue was earned under the arrangement. Pursuant to the agreement between the Company and the client, the remaining amount of $978,687 was refund to client on December 30, 2013.
	Exclusive Advertising Rights
	Exclusive advertising rights represent costs for exclusive rights to advertise on Macau Lotus Satellite TV Media Limited’s (“Lotus”) network. The costs were determined as the difference between the face value of non-interest bearing notes receivable from Lotus and the present value of the notes receivable at the time of issuance. This intangible asset is being amortized over the remaining life of the rights, which expire August 31, 2020.
	Trademark
	Legal costs associated with serving and protecting trademark are being capitalized and will be amortized over its estimated useful life.
	Imputed Interest
	Since 2010, the Company has issued non-interest bearing notes receivable which mature in 2020.  The notes receivable were recorded at issuance at its present value using an effective interest rate of 8%, which was the Company’s stated rate on another note receivable.  At the balance sheet date, the notes are revalued with the change in present value recorded as interest income in the Consolidated Statements of Operations.
	Impairment of Long Lived Assets
	Management reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable.  Recoverability of assets to be held and used is measured by a comparison for the carrying amount of an asset to future cash flows expected to be generated by the asset.  If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount exceeds the fair value of the assets which considers the discounted future net cash flows.
	Property, Plant and Equipment
	Acquisitions of property, plant and equipment are recorded at cost. Improvements and replacements of property, plant and equipment are capitalized. Maintenance and repairs that do not improve or extend the lives of furniture and equipment are charged to expense as incurred. Depreciation is computed using the straight-line method over the estimated useful life of each class of depreciable assets, which is 3-20 years
	.
	Earnings Per Share
	Earnings Per Share is computed by dividing net income available to common stockholders by the weighted average number of common stock shares outstanding during the year.  Diluted EPS is computed by dividing net income available to common stockholders by the weighted average number of common stock shares outstanding during the year plus potential dilutive instruments such as stock options and warrants.  The effect of stock options on diluted EPS is determined through the application of the treasury stock method, whereby proceeds received by the Company based on assumed exercises are hypothetically used to repurchase the Company's common stock at the average market price during the period.  The Company has no stock options, warrants or other potentially dilutive instruments outstanding at September 30, 2014 and 2013, respectively.
	Recently Issued Accounting Standards
	In May 2014, the Financial Accounting Standards Board issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”), which amends the existing accounting standards for revenue recognition. ASU 2014-09 is based on principles that govern the recognition of revenue at an amount an entity expects to be entitled when products are transferred to customers. ASU 2014-09 will be effective for the Company beginning in its first quarter of 2018. Early adoption is not permitted. The new revenue standard may be applied retrospectively to each prior period presented or retrospectively with the cumulative effect recognized as of the date of adoption. The Company is currently evaluating the impact of adopting the new revenue standard on its financial statements.
	The Company has evaluated all other newly issued accounting pronouncements and believes such pronouncements do not have a material effect on the Company’s financial statements
	.

Note_3_Note_Receivable_and_Exc

Note 3 - Note Receivable and Exclusive Advertising Rights Asset	9 Months Ended
	Sep. 30, 2014
Notes	'
Note 3 - Note Receivable and Exclusive Advertising Rights Asset	'
	Note 3 - Note Receivable and Exclusive Advertising Rights Asset
	CEM International Limited entered into an exclusive agreement with Macau Lotus Satellite TV Media Limited (Lotus) on August 26, 2010 to provide advertising services for a ten year period commencing on September 1, 2010.  In consideration for the exclusive advertising rights granted by Lotus, CEM will provide advertising services and issue, over the course of the agreement, US$10 million (amended to US$15 million on June 13, 2014) in loans to Lotus. The amount and duration of each loan shall be negotiated by the parties, depending on Lotus’s financial needs.
	On December 17, 2010, CEM issued Lotus TV a HK$15,000,000 (US$1,928,839) loan which is backed by a non-interest bearing promissory note, due on August 31, 2020.  The note receivable was discounted to its estimated fair value of HK$7,105,808 (US$913,872) using an effective interest rate of 8%.  This difference between the face value and the present value of HK$7,894,192 (US$1,014,967) was allocated to an intangible asset captioned Exclusive Advertising Rights.
	On January 31, 2011, CEM issued Lotus TV an additional HK$6,084,000 (US$780,000) loan which is backed by a non-interest bearing promissory note, due on August 31, 2020.  The note receivable was discounted to its estimated fair value of HK$2,833,577 (US$363,279) using an effective interest rate of 8%.  This difference between the face value and the present value of HK$3,250,423 (US$416,721) was allocated to an intangible asset captioned Exclusive Advertising Rights.
	On June 12, 2011, CEM issued Lotus TV a series of additional loans totaling HK$43,700,000 (US$5,623,255), backed by a non-interest bearing promissory note, due on August 31, 2020. The note receivable was discounted to its estimated fair value of HK$20,831,819 (US$ 2,680,610) using an effective interest rate of 8%. This difference between the face value and the present value of HK$22,868,181 (US$2,942,645) was allocated to the intangible asset captioned Exclusive Advertising Rights.
	On August 9, 2011, CEM issued Lotus TV an additional loan HK$4,800,000 (US$614,731), backed by a non-interest bearing promissory note, due on August 31, 2020. The note receivable was discounted to its estimated fair value of HK$2,334,232 (US$ 299,814) using an effective interest rate of 8%. This difference between the face value and the present value of HK$2,465,768 (US$314,917) was allocated to the intangible asset captioned Exclusive Advertising Rights.
	On September 25, 2012, Lotus TV invoiced the Company $1,000,000 for handling fees related to an advertising agreement which had not commenced.  The invoice terms included $200,000 cash and $800,000 reduction in the note receivable balance due from Lotus TV.  The $1,000,000 fee was included in prepaid expense, and was being amortized to expense as advertising slots were used.
	On April 9, 2013, CEM issued Lotus TV an additional loan HK$4,658,425 (US$600,000), backed by a non-interest bearing promissory note, due on August 31, 2020. The note receivable was discounted to its estimated fair value of HK$2,578,771 (US$332,143) using an effective interest rate of 8%. This difference between the face value and the present value of HK$2,076,654 (US$267,857) was allocated to the intangible asset captioned Exclusive Advertising Rights.
	On February 17, 2014, CEM issued Lotus TV an additional loan HK$7,800,000 (US$1,005,543) , backed by a non-interest bearing promissory note, due on August 31, 2020.  The note receivable was discounted to its estimated fair value of $596,862 using an effective interest rate of 8%. This difference between the face value and the present value of $408,681 was allocated to the intangible asset captioned Exclusive Advertising Rights.
	On June 13, 2014, CEM issued Lotus TV an additional loan HK$3,000,000 (US$387,027) , backed by a non-interest bearing promissory note, due on August 31, 2020.  The note receivable was discounted to its estimated fair value of $235,916 using an effective interest rate of 8%. This difference between the face value and the present value of $151,111 was allocated to the intangible asset captioned Exclusive Advertising Rights.
	An intangible asset captioned Exclusive Advertising Rights has been recorded in the accompanying consolidated balance sheets representing the difference between the face amount of the notes receivable and the respective present values at the time of issuance.  This difference was deemed an asset because the interest-free note was a condition of the exclusive agreement.
	A Summary of the notes receivable and intangible asset is as follows:
	SCHEDULE OF NOTE RECEIVABLE
	Date of Note	12/17/10	1/31/11	6/12/11	8/9/11	4/9/11	2/17/14	6/13/14
	Amount Paid	1,928,839	780,000	5,623,255	614,731	600,000	1,005,543	387,027
	Lotus TV
	Discounted	913,872	363,279	2,680,610	299,814	332,143	596,862	235,916
	Note Balance
	at Inception
	Note Balance	293,942	461,090	3,311,907	363,779	353,050	-	-
	As of 12/31/ 2013
	Note Balance	399,370	488,932	3,511,902	398,755	374,367	626,838	241,092
	As of 9/30/2014
	SCHEDULE OF INTANGIBLE ASSET
	Date of Note	12/17/10	1/31/11	6/12/11	8/9/11	4/9/13	2/17/14	6/13/14
	Amount Paid	1,928,839	780,000	5,623,255	614,731	600,000	1,005,543	387,027
	Lotus TV
	Amount	1,014,967	416,721	2,942,645	314,917	267,857	408,681	151,111
	Allocated to
	Intangible Asset
	Intangible	699,075	291,597	2,115,917	234,458	241,070	-	-
	Asset, Net
	As of 12/31/ 2013
	Intangible	618,054	258,489	1,875,675	207,487	213,699	370,019	143,767
	Asset, Net
	As of 9/30/2014
	Interest income accrued on the notes amounted to $135,443 and $431,732 for the three and nine months ended September 30, 2014.  Amortization of the intangible asset amounted to $171,511 and $450,455 for the three and nine months ended September 30, 2014, and was included in selling, general and administrative expenses in the accompanying consolidated financial statements.

Note_4_Income_Taxes

Note 4 - Income Taxes	9 Months Ended
	Sep. 30, 2014
Notes	'
Note 4 - Income Taxes	'
	Note 4 – Income Taxes
	The Company accounts for income taxes using the liability method, which requires recognition of deferred income tax liabilities and assets for the expected future tax consequences of events that have been recognized in the Company’s financial statements or tax returns.
	Effective January 1, 2008, the Chinese government enacted the Corporate Income Tax Law, and promulgated related regulations, which, among other things, imposes a unified income tax rate of 25% for both domestic and foreign invested enterprises. The tax rate for Macau is 12%.
	Due to the Company’s accumulated net losses, there was no provision for income taxes. The Company’s effective tax rate for the period ended September 30, 2014 was 0% due to the net operating loss carry-forward.  The Company’s taxes were subject to a full valuation allowance as follows at September 30, 2014 and December 31, 2013:
	Schedule of Income Taxes
	30-Sep-14
			Accumulated Net
	Tax					Deferred		Valuation
	Jurisdiction		Operating Loss	Expiration		Tax Asset		Allowance
	United States	$	598,072	2019 - 2033	$	225,054	$	-225,054
	Macau		1,377,524	2013 - 2016		165,303		-165,303
		$	1,975,596		$	390,357	$	-390,357
	31-Dec-13
			Accumulated Net
	Tax					Deferred		Valuation
	Jurisdiction		Operating Loss	Expiration		Tax Asset		Allowance
	United States	$	541,035	2019 - 2032	$	203,591	$	-203,591
	Macau		1,292,695	2013 - 2016		155,123		-155,123
		$	1,833,730		$	358,715	$	-358,715
	The net deferred tax asset generated by the loss carry-forward has been fully reserved.
	The Company has no United States corporate income tax liability as of September 30, 2014 and December 31, 2013.

Note_5_Capital_Stock

Note 5 - Capital Stock	9 Months Ended
	Sep. 30, 2014
Notes	'
Note 5 - Capital Stock	'
	Note 5 – Capital Stock
	On April 9, 2010, the Company filed a Certificate of Amendment with the Secretary of State of the State of Florida to increase the authorized number of shares of its common stock from 110,000,000 shares to 500,000,000 shares, with a par value of $0.001 per share. As of September 30, 2014, there were 326,155,623 shares of the Company’s common stock issued and outstanding.
	On January 30, 2013, the Company entered into a Securities Purchase Agreement with certain investors in a private placement. Pursuant to the agreement, the Company agreed to issue and investors agreed to purchase an aggregate of 183 million shares of the Company’s common stock at a price of $0.03 per share, for an aggregate consideration of $5,490,000 in cash, of which $720,000 was received on April 9, 2013 for 24,000,000 shares.

Note_6_Commitments_and_Conting

Note 6 - Commitments and Contingencies	9 Months Ended
	Sep. 30, 2014
Notes	'
Note 6 - Commitments and Contingencies	'
	Note 6 - Commitments and Contingencies
	On August 26, 2010, E&M (name changed to CEM International Ltd on September 16, 2010) entered into an Advertising Agreement (the “Agreement”) with Macau Lotus Satellite TV Media Limited (“Lotus TV”), pursuant to which Lotus TV authorizes E&M as its exclusive agent to operate all of its advertising businesses, and to be entitled to all the revenues generated therefrom (“Advertising Rights”).
	The term of this Agreement is 10 years from September 1, 2010 to August 31, 2020. In consideration for Lotus TV’s grant of the Advertising Rights, E&M agrees to pay Lotus TV a fixed annual fee every year (the “Annual Fee”) regardless of the total amount of advertising revenues received by E&M. Under the Agreement, E&M paid Lotus TV an initial Annual Fee of $1,000,000 Hong Kong dollars (approximately US$128,900) for the first year of the Agreement, which Annual Fee will increase at 10% every year for the following five years.  The amount of Annual Fee payable at September 30, 2014 and December 31, 2013 was $130,011 and $-0-, respectively.
	E&M also agrees to extend to Lotus TV, interest free, a credit facility consisting of a series of loans (each a “Loan”) totaling a minimum of US$15 million over a period of 10 years.  The Company currently expects that the loans will be originated from its cash reserve, advertising revenue and, if necessary, raised from the capital market.
	License fee expense for the three months ended September 30, 2014 and 2013 were $44,360 and $40,305, respectively, and $130,165 and $118,283 for the nine months ended September 30, 2014 and 2013, respectively, and is included in selling, general and administrative expenses.

Note_7_Risks_and_Uncertainties

Note 7 - Risks and Uncertainties	9 Months Ended
	Sep. 30, 2014
Notes	'
Note 7 - Risks and Uncertainties	'
	Note 7 – Risks and Uncertainties
	The Company’s business, financial condition and results of operations could be materially affected by many risks and uncertainties including the following:
	As a U.S. based company doing business in Macau, the Company must comply with all Macau laws, rules and regulations, and pronouncements, and endeavor to obtain all necessary approvals from applicable Chinese regulatory authorities.
	Fluctuations in the exchange rate between the Hong Kong currency and the U.S. dollar may impact the Company’s operating income.

Note_8_Related_Party_Transacti

Note 8 - Related Party Transactions	9 Months Ended
	Sep. 30, 2014
Notes	'
Note 8 - Related Party Transactions	'
	Note 8 – Related Party Transactions
	A director of the Company purchased investments in gold bullion on behalf of the Company in August 2011. Purchases made under this arrangement totaled approximately HKD $20 Million (USD $2.6 Million). HKD $2,137,915 (USD $275,828) remained payable to the director at December 31, 2012 and was non-interest bearing and due on demand. In September 2013, the remaining payable balance was paid off.
	In May 2011, the Company issued 90 million shares of its common stock, as part of the 300 million issued in a private placement, to a related party of Dicky Cheung, the Company’s president and CEO, in exchange for $2,700,000 in cash.

Note_9_Subsequent_Events

Note 9 - Subsequent Events	9 Months Ended
	Sep. 30, 2014
Notes	'
Note 9 - Subsequent Events	'
	Note 9 - Subsequent Events
	The Company has evaluated subsequent events from the balance sheet date through the date the financial statements were issued. Per our evaluation there were no significant events that require disclosure.

Note_2_Summary_of_Significant_1

Note 2 - Summary of Significant Accounting Policies: Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2014
Policies	'
Basis of Presentation	'
	Basis of presentation
	The accompanying interim consolidated financial statements for the nine months ended September 30, 2014 and 2013 are unaudited and have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X.  Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements.  In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included.  The results of operations realized during an interim period are not necessarily indicative of results to be expected for a full year. These consolidated financial statements should be read in conjunction with the information filed as part of the Company’s 2013 Annual Report on Form 10-K, which was filed on March 10, 2014.

Note_2_Summary_of_Significant_2

Note 2 - Summary of Significant Accounting Policies: Principles of Consolidation (Policies)	9 Months Ended
	Sep. 30, 2014
Policies	'
Principles of Consolidation	'
	Principles of Consolidation
	The Company prepares its consolidated financial statements in conformity with accounting principles generally accepted in the United States of America. Revenues and expenses are reported on the accrual basis, which means that income is recognized as it is earned and expenses are recognized as they are incurred.
	Management is solely responsible for adopting sound accounting practices, establishing and maintaining a system of internal accounting control and preventing and detecting fraud. The Company's system of internal accounting control is designed to assure, among other items, that (1) recorded transactions are valid; (2) valid transactions are recorded; and (3) transactions are recorded in the proper period in a timely manner to produce financial statements which present fairly the financial condition, results of operations and cash flows of the Company for the respective periods being presented.
	The consolidated financial statements presented the financial position and the results of operations of Credit One Financial, Inc. and its 100% owned subsidiary, CEM International Ltd.
	All significant intercompany transactions and balances have been eliminated in consolidation.

Note_2_Summary_of_Significant_3

Note 2 - Summary of Significant Accounting Policies: Provision For Income Taxes (Policies)	9 Months Ended
	Sep. 30, 2014
Policies	'
Provision For Income Taxes	'
	Provision for Income Taxes
	Deferred income taxes result from temporary differences between the basis of assets and liabilities recognized for differences between the financial statement and tax basis thereon, and for the expected future tax benefits to be derived from net operating losses and tax credit carry forwards. The Company has approximately $598,063 in U.S. net operating loss carry-forwards and $1,377,524 in Macau net operating loss carry-forwards as of September 30, 2014, and a valuation allowance equal to the tax benefit of the accumulated net operating losses has been established since it is uncertain that future taxable income from operations in the United States of America will be realized during the applicable carry-forward periods.  The net operating loss carry-forwards may be limited under the change of control provisions of the Internal Revenue Code, Section 382.
	The Company applies the provisions of income tax accounting standards for uncertainty in income taxes, which prescribe 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.  The amount recognized is measured as the largest amount of benefit that has a greater than 50% likelihood of being realized upon ultimate settlement.  When applicable, the Company will include interest and penalties related to uncertain tax positions in income tax expense.

Note_2_Summary_of_Significant_4

Note 2 - Summary of Significant Accounting Policies: Use of Estimates in The Preparation of The Financial Statements (Policies)	9 Months Ended
	Sep. 30, 2014
Policies	'
Use of Estimates in The Preparation of The Financial Statements	'
	Use of Estimates in the Preparation of the Financial Statements
	The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, 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.  Actual results could differ from those estimates and those differences could be material.

Note_2_Summary_of_Significant_5

Note 2 - Summary of Significant Accounting Policies: Fair Value Measurements (Policies)	9 Months Ended
	Sep. 30, 2014
Policies	'
Fair Value Measurements	'
	Fair Value Measurements
	The Company follows accounting guidance relating to fair value measurements. This guidance establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three levels as follows:
	Level 1 – quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access as of the measurement date.
	Level 2 – inputs other than quoted prices included within Level 1 that are directly observable for the asset or liability or indirectly observable through corroboration with observable market data.
	Level 3 – unobservable inputs for the asset or liability only used when there is little, if any, market activity for the asset or liability at the measurement date.
	The asset or liability’s fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair measurement. Valuation techniques used need to maximize the use of observable inputs and minimize the unobservable inputs.
	The fair value of the Company’s financial instruments, which consist principally of cash and cash equivalents and investments in gold bullion, are based on level 1 input, and equal carrying amounts.

Note_2_Summary_of_Significant_6

Note 2 - Summary of Significant Accounting Policies: Cash and Equivalents (Policies)	9 Months Ended
	Sep. 30, 2014
Policies	'
Cash and Equivalents	'
	Cash and Equivalents
	For purposes of the statement of cash flows, the Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.
	As of September 30, 2014, the Company maintained $710,403 in foreign bank accounts not subject to FDIC coverage.  The remaining balance of $53,239 at September 30, 2014 was maintained in a domestic bank account and fully insured by FDIC.

Note_2_Summary_of_Significant_7

Note 2 - Summary of Significant Accounting Policies: Investment in Gold Bullion (Policies)	9 Months Ended
	Sep. 30, 2014
Policies	'
Investment in Gold Bullion	'
	Investment in Gold Bullion
	The Company invested in gold bullion. As a precious metal, the investment in gold bullion was stated at its monetary fair value as determined by the Chinese Gold & Silver Exchange Society. Any adjustments to the fair value of the investments were recorded in unrealized gain or loss on the accompanying consolidated statements of operations and comprehensive income (loss).
	In September 2012, the Company entered into a Trust Agreement with William G. Hu, Esq. as the trustee to hold the Company’s gold bullions. Upon receipt of the gold bullions, the trustee issued electronic receipts, each known as a “Goldeq”, which can be used, in lieu of gold, as an intermediary to facilitate the exchange of goods and services conducted on the Company’s proposed joint venture with Lotus TV, in which a series of interactive game shows will be launched via satellite TV and the Internet for viewers throughout the world to participate, and Lotus TV will provide broadcasting time. To date, the Company is still in design and development stage of the above project.
	In addition to its investment in gold bullion, the Company also received gold bullion as payment from sale of advertising time.  In September 2012, the Company entered into an Advertising Time Purchase Agreement with Scientific Energy, Inc. in exchange for $2,014,825 of gold bullion.  The terms of the contract provide that the Company will sell 10,000 minutes of advertising time divided into 30-second time slots for a total of 20,000 advertising slots. As a result, the Company received 190 gold bullions, 5-tael per bullion, valued at $2,014,825 at that time.
	On February 17, 2013 and on December 12, 2013, the Company sold its all gold bullion on hand for $26,249,236 Hong Kong dollars (approximately US$3,384,203) in cash, which resulted in a cumulative loss of approximately $1,206,798 since the gold was acquired in 2012 and 2011.
	In December 2013, Scientific Energy, Inc. decided that the remaining unused advertising time would no longer be needed, and the Company agreed to refund to it for the unused advertising time on Lotus TV in the aggregate amount of $7,593,834.93 Hong Kong dollars (approximately US$979,218) , which represented 6,750 minutes of unused advertising TV time.

Note_2_Summary_of_Significant_8

Note 2 - Summary of Significant Accounting Policies: Foreign Currency (Policies)	9 Months Ended
	Sep. 30, 2014
Policies	'
Foreign Currency	'
	Foreign Currency
	The Company reports it financial position and results of operations in U.S. dollars.  For its subsidiaries that have functional currencies that are foreign currencies, the elements of the financial statements are translated by using a current exchange rate.  Assets and liabilities were translated at exchange rates as of the balance sheet date.  Revenues, expenses, gains and losses were translated at average exchange rates in effect for the periods presented.  Transaction adjustments result from the process of translating the subsidiaries’ financial statements into US dollars and are not included in determining net income, but are reported in other comprehensive income.  There was currency translation adjustment of $(16,988) and $2,880 for the three months ended September 30, 2014 and 2013, respectively, and $(12,824) and $(837) for the nine months ended September 30, 2014 and 2013, respectively.
	Foreign currency transactions are transactions denominated in a currency other than the entity's functional currency.  At the date the transaction is recognized, each asset, liability, revenue, expense, gain, or loss arising from the transaction is measured and recorded in the functional currency of the recording entity by use of the exchange rate in effect at that date. At each balance sheet date, recorded balances that are denominated in a currency other than the functional currency of the recording entity are adjusted to reflect the current exchange rate, with any resulting differences reported in the current period statement of operations.

Note_2_Summary_of_Significant_9

Note 2 - Summary of Significant Accounting Policies: Revenue Recognition (Policies)	9 Months Ended
	Sep. 30, 2014
Policies	'
Revenue Recognition	'
	Revenue Recognition
	The Company recognizes revenue in accordance with Securities and Exchange Commission revenue recognition accounting standards.
	As an advertising agent, CEM is in the service business dedicated to creating, planning and handling advertising for its clients.  Advertising revenue is recognized upon the delivery of the contracted advertising services and when no significant Company performance obligation remains. Advance payments for advertising are recorded as deferred revenue. Service revenue is recognized as the contracted services are rendered.
	In September 2012, the Company entered into an advertising agreement in exchange for $2,014,825 of gold bullion.  During the years ended December 31, 2013, $504,752 of revenue was earned under the arrangement. Pursuant to the agreement between the Company and the client, the remaining amount of $978,687 was refund to client on December 30, 2013.

Recovered_Sheet1

Note 2 - Summary of Significant Accounting Policies: Exclusive Advertising Rights (Policies)	9 Months Ended
	Sep. 30, 2014
Policies	'
Exclusive Advertising Rights	'
	Exclusive Advertising Rights
	Exclusive advertising rights represent costs for exclusive rights to advertise on Macau Lotus Satellite TV Media Limited’s (“Lotus”) network. The costs were determined as the difference between the face value of non-interest bearing notes receivable from Lotus and the present value of the notes receivable at the time of issuance. This intangible asset is being amortized over the remaining life of the rights, which expire August 31, 2020.

Recovered_Sheet2

Note 2 - Summary of Significant Accounting Policies: Trademark (Policies)	9 Months Ended
	Sep. 30, 2014
Policies	'
Trademark	'
	Trademark
	Legal costs associated with serving and protecting trademark are being capitalized and will be amortized over its estimated useful life.

Recovered_Sheet3

Note 2 - Summary of Significant Accounting Policies: Imputed Interest (Policies)	9 Months Ended
	Sep. 30, 2014
Policies	'
Imputed Interest	'
	Imputed Interest
	Since 2010, the Company has issued non-interest bearing notes receivable which mature in 2020.  The notes receivable were recorded at issuance at its present value using an effective interest rate of 8%, which was the Company’s stated rate on another note receivable.  At the balance sheet date, the notes are revalued with the change in present value recorded as interest income in the Consolidated Statements of Operations.

Recovered_Sheet4

Note 2 - Summary of Significant Accounting Policies: Impairment of Long Lived Assets (Policies)	9 Months Ended
	Sep. 30, 2014
Policies	'
Impairment of Long Lived Assets	'
	Impairment of Long Lived Assets
	Management reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable.  Recoverability of assets to be held and used is measured by a comparison for the carrying amount of an asset to future cash flows expected to be generated by the asset.  If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount exceeds the fair value of the assets which considers the discounted future net cash flows.

Recovered_Sheet5

Note 2 - Summary of Significant Accounting Policies: Property, Plant and Equipment (Policies)	9 Months Ended
	Sep. 30, 2014
Policies	'
Property, Plant and Equipment	'
	Property, Plant and Equipment
	Acquisitions of property, plant and equipment are recorded at cost. Improvements and replacements of property, plant and equipment are capitalized. Maintenance and repairs that do not improve or extend the lives of furniture and equipment are charged to expense as incurred. Depreciation is computed using the straight-line method over the estimated useful life of each class of depreciable assets, which is 3-20 years

Recovered_Sheet6

Note 2 - Summary of Significant Accounting Policies: Earnings Per Share (Policies)	9 Months Ended
	Sep. 30, 2014
Policies	'
Earnings Per Share	'
	Earnings Per Share
	Earnings Per Share is computed by dividing net income available to common stockholders by the weighted average number of common stock shares outstanding during the year.  Diluted EPS is computed by dividing net income available to common stockholders by the weighted average number of common stock shares outstanding during the year plus potential dilutive instruments such as stock options and warrants.  The effect of stock options on diluted EPS is determined through the application of the treasury stock method, whereby proceeds received by the Company based on assumed exercises are hypothetically used to repurchase the Company's common stock at the average market price during the period.  The Company has no stock options, warrants or other potentially dilutive instruments outstanding at September 30, 2014 and 2013, respectively.

Recovered_Sheet7

Note 2 - Summary of Significant Accounting Policies: Recently Issued Accounting Standards (Policies)	9 Months Ended
	Sep. 30, 2014
Policies	'
Recently Issued Accounting Standards	'
	Recently Issued Accounting Standards
	In May 2014, the Financial Accounting Standards Board issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”), which amends the existing accounting standards for revenue recognition. ASU 2014-09 is based on principles that govern the recognition of revenue at an amount an entity expects to be entitled when products are transferred to customers. ASU 2014-09 will be effective for the Company beginning in its first quarter of 2018. Early adoption is not permitted. The new revenue standard may be applied retrospectively to each prior period presented or retrospectively with the cumulative effect recognized as of the date of adoption. The Company is currently evaluating the impact of adopting the new revenue standard on its financial statements.
	The Company has evaluated all other newly issued accounting pronouncements and believes such pronouncements do not have a material effect on the Company’s financial statements

Note_3_Note_Receivable_and_Exc1

Note 3 - Note Receivable and Exclusive Advertising Rights Asset: SCHEDULE OF NOTE RECEIVABLE (Tables)	9 Months Ended
	Sep. 30, 2014
Tables/Schedules	'
SCHEDULE OF NOTE RECEIVABLE	'
	Date of Note	12/17/10	1/31/11	6/12/11	8/9/11	4/9/11	2/17/14	6/13/14
	Amount Paid	1,928,839	780,000	5,623,255	614,731	600,000	1,005,543	387,027
	Lotus TV
	Discounted	913,872	363,279	2,680,610	299,814	332,143	596,862	235,916
	Note Balance
	at Inception
	Note Balance	293,942	461,090	3,311,907	363,779	353,050	-	-
	As of 12/31/ 2013
	Note Balance	399,370	488,932	3,511,902	398,755	374,367	626,838	241,092
	As of 9/30/2014

Note_3_Note_Receivable_and_Exc2

Note 3 - Note Receivable and Exclusive Advertising Rights Asset: SCHEDULE OF INTANGIBLE ASSET (Tables)	9 Months Ended
	Sep. 30, 2014
Tables/Schedules	'
SCHEDULE OF INTANGIBLE ASSET	'
	Date of Note	12/17/10	1/31/11	6/12/11	8/9/11	4/9/13	2/17/14	6/13/14
	Amount Paid	1,928,839	780,000	5,623,255	614,731	600,000	1,005,543	387,027
	Lotus TV
	Amount	1,014,967	416,721	2,942,645	314,917	267,857	408,681	151,111
	Allocated to
	Intangible Asset
	Intangible	699,075	291,597	2,115,917	234,458	241,070	-	-
	Asset, Net
	As of 12/31/ 2013
	Intangible	618,054	258,489	1,875,675	207,487	213,699	370,019	143,767
	Asset, Net
	As of 9/30/2014

Note_4_Income_Taxes_Schedule_o

Note 4 - Income Taxes: Schedule of Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2014
Tables/Schedules	'
Schedule of Income Taxes	'
	Schedule of Income Taxes
	30-Sep-14
			Accumulated Net
	Tax					Deferred		Valuation
	Jurisdiction		Operating Loss	Expiration		Tax Asset		Allowance
	United States	$	598,072	2019 - 2033	$	225,054	$	-225,054
	Macau		1,377,524	2013 - 2016		165,303		-165,303
		$	1,975,596		$	390,357	$	-390,357
	31-Dec-13
			Accumulated Net
	Tax					Deferred		Valuation
	Jurisdiction		Operating Loss	Expiration		Tax Asset		Allowance
	United States	$	541,035	2019 - 2032	$	203,591	$	-203,591
	Macau		1,292,695	2013 - 2016		155,123		-155,123
		$	1,833,730		$	358,715	$	-358,715

Note_3_Note_Receivable_and_Exc3

Note 3 - Note Receivable and Exclusive Advertising Rights Asset: SCHEDULE OF NOTE RECEIVABLE (Details) (USD $)	Jun. 13, 2014	Feb. 17, 2014	Apr. 09, 2013	Aug. 09, 2011	Jun. 12, 2011	Apr. 09, 2011	Jan. 31, 2011	Dec. 17, 2010
Details	'	'	'	'	'	'	'	'
Amount Paid Lotus TV	$387,027	$1,005,543	$600,000	$614,731	$5,623,255	$600,000	$780,000	$1,928,839
Discounted Note Balance at Inception	235,916	596,862	'	299,814	2,680,610	332,143	363,279	913,872
Note Balance As of 12/31/ 2013	'	'	'	363,779	3,311,907	353,050	461,090	293,942
Note Balance As of 9/30/2014	$241,092	$626,838	'	$398,755	$3,511,902	$374,367	$488,932	$399,370

Note_3_Note_Receivable_and_Exc4

Note 3 - Note Receivable and Exclusive Advertising Rights Asset: SCHEDULE OF INTANGIBLE ASSET (Details) (USD $)	Jun. 13, 2014	Feb. 17, 2014	Apr. 09, 2013	Aug. 09, 2011	Jun. 12, 2011	Apr. 09, 2011	Jan. 31, 2011	Dec. 17, 2010
Details	'	'	'	'	'	'	'	'
Amount Paid Lotus TV	$387,027	$1,005,543	$600,000	$614,731	$5,623,255	$600,000	$780,000	$1,928,839
Amount Allocated to Intangible Asset	151,111	408,681	267,857	314,917	2,942,645	'	416,721	1,014,967
Intangible Asset, Net As of 12/31/ 2013	'	'	$241,070	$234,458	$2,115,917	'	$291,597	$699,075