TransAKT (TAKD) 10-Q 14 Nov 13 2013 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Sep. 30, 2013	Nov. 14, 2013
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	30-Sep-13	'
Trading Symbol	'takd	'
Entity Registrant Name	'TRANSAKT LTD.	'
Entity Central Index Key	'0001263872	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Common Stock, Shares Outstanding	'	544,205,306
Entity Current Reporting Status	'Yes	'
Entity Voluntary Filers	'No	'
Entity Well Known Seasoned Issuer	'No	'
Document Fiscal Year Focus	'2013	'
Document Fiscal Period Focus	'Q3	'

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Sep. 30, 2013	Dec. 31, 2012
Current Assets	'	'
Cash and cash equivalents	$9,234,199	$25,364
Accounts receivable, net	257,941	47,949
Inventory	449,545	361,631
Other receivable, net	0	10,033
Prepaid expenses	471,854	319,521
Current assets of discontinued operations	0	4,151,385
Total Current Assets	10,413,539	4,915,883
Property & Equipment, net	1,439,551	303,588
Construction in progress	3,867,570	1,265,858
Long-term investments	20,956	35,818
Goodwill	5,175,896	5,163,739
Deposits	55,931	45,385
Non-current assets of discontinued operations	0	4,294
Total Assets	20,973,443	11,734,565
Current Liabilities	'	'
Accounts payable and accrued expenses	1,291,277	378,005
Construction payable	799,388	712,631
Loan payable to related party	7,161,023	1,194,798
Current portion of obligation under capital leases	75,558	79,885
Current liabilities of discontinued operations	0	2,170,339
Total Current Liabilities	9,327,246	4,535,658
Long term liabilities	'	'
obligation under capital leases	0	58,349
Total liabilities	9,327,246	4,594,007
Stockholders' Equity	'	'
Common stock, 700,000,000 shares authorized for issuance, $0.001 par value, 544,205,306 and 403,526,905 shares issued at September 30, 2013 and December 31, 2012, respectively	544,205	403,527
Preferred stock, 200,000,000 shares authorized for issuance, $0.001 par value, 0 share issued and outstanding	0	0
Additional paid-in capital	19,214,286	10,497,536
Treasury stock, common stock, at cost, 45,000,000 shares at September 30, 2013 and 0 share at December 31, 2012	-1,800,000	0
Other comprehensive income	130,387	151,287
Accumulated deficit	-6,442,681	-3,911,792
Total Stockholders' Equity	11,646,197	7,140,558
Total Liabilities and Stockholders' Equity	$20,973,443	$11,734,565

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Sep. 30, 2013	Dec. 31, 2012
Common Stock, Shares Authorized	700,000,000	700,000,000
Common Stock, Par Value Per Share	$0.00	$0.00
Common Stock, Shares, Issued	544,205,306	403,526,905
Preferred Stock, Shares Authorized	200,000,000	200,000,000
Preferred Stock, Par Value Per Share	$0.00	$0.00
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Treasury Stock, Shares	45,000,000	0

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Sales, net	$179,036	$86,247	$273,700	$86,247
Cost of sales	65,938	77,696	559,841	77,696
Gross profit	113,098	8,551	-286,141	8,551
Selling, general and administrative expenses	853,501	813,680	1,989,650	950,514
Loss from operations	-740,403	-805,129	-2,275,791	-941,963
Other income (expense)	'	'	'	'
Interest income	36	12	69	36
Loss from investments	-3,706	0	-14,152	0
Loss from disposal of subsidiary	0	0	-185,340	0
Currency exchange gain (loss)	-49,691	15,737	-49,724	16,320
Gain (loss) on disposal of fixed assets	-11	0	3,704	0
Interest expense	-2,607	-3,250	-9,655	-3,250
Total other income (expenses)	-55,979	12,499	-255,098	13,106
Loss before income taxes	-796,382	-792,630	-2,530,889	-928,857
Provision for income taxes expense (benefit)	0	0	0	0
Loss from continued operations	-796,382	-792,630	-2,530,889	-928,857
Loss from discontinued operations	'	-3,386	'	-112,426
Net loss	-796,382	-796,016	-2,530,889	-1,041,283
Basic and diluted income (loss) per share	'	'	'	'
Loss from continued operations	$0	$0	($0.01)	$0
Loss from discontinued operations	'	$0	'	$0
Net loss	$0	$0	($0.01)	$0
Weighted average number of shares outstanding:	'	'	'	'
Basic and diluted	381,463,601	235,193,572	366,915,828	215,266,289
Other Comprehensive Income (Loss)	'	'	'	'
Net loss	-796,382	-796,016	-2,530,889	-1,041,283
Foreign currency translation adjustment	17,160	122,035	-20,900	57,027
Comprehensive income (loss)	($779,222)	($673,981)	($2,551,789)	($984,256)

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
Cash flows from operating activities	'	'
Net loss	($2,530,889)	($1,041,283)
Loss from discontinued operations	'	112,426
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:	'	'
Gain on disposal of assets	-3,704	0
Depreciation expense	97,823	9,176
Loss on long-term investment	14,152	0
Loss on disposal of discontinued operations	185,340	0
Common stock issued for service	0	550,000
Cost of stock option	56,641	0
Changes in assets and liabilities:	'	'
(Increase) in accounts receivable	-209,580	-10,582
(Increase) in inventory	-93,663	-140,852
Decrease (increase) in prepaid expense	-183,655	258,836
(Increase) in deposits	-11,551	-10,784
Increase in accounts payable and accrued expenses	990,928	148,356
Increase (decrease) in customer deposits	21,924	-18,652
Net cash used in operating activities of continuing operations	-1,666,234	-143,359
Net cash provided by operating activities of discontinued operations	0	303,582
Net cash provided by (used in) operating activities	-1,666,234	160,223
Cash flows from investing activities	'	'
Acquisition of property and equipment	-1,141,317	-1,801
Cash held by Vegfab at acquisition date	0	9,468
Payment of acquisition of Vegfab	0	-1,000,000
Cash received from disposal of fixed assets	13,104	0
Payments of trademark registration	-23,839	0
Construction-in-progress	-2,608,265	0
Net cash used in investing activities of continuing operations	-3,760,317	-992,333
Net cash used in investing activities of discontinued operations	0	-58,487
Net cash used in investing activities	-3,760,317	-1,050,820
Cash flows from financing activities	'	'
Principal payments under capital lease obligations	-59,909	-14,275
Due to related party	5,949,196	472,879
Repayment of loan from others	0	-128,884
Issuance of common stock	8,800,785	1,195,637
Net cash provided by financing activities of continuing operations	14,690,072	1,525,357
Net cash used in financing activities of discontinued operations	0	-338,986
Net cash provided by financing activities	14,690,072	1,186,371
Effect of exchange rate changes on cash and cash equivalents	-54,686	2,957
Net increase in cash and cash equivalents	9,208,835	298,731
Net decrease in cash and cash equivalents of discontinued operations	0	-93,891
Net increase in cash and cash equivalents of continuing operations	9,208,835	392,622
Beginning	25,364	94,473
Ending	9,234,199	487,095
Supplemental disclosure of cash flows	'	'
Income tax	0	4,608
Interest expense	9,655	53,445
Non-cash transactions:	'	'
Acquisition of treasury stock for disposal of Harlee	$1,800,000	$0

ORGANIZATION_AND_SUMMARY_OF_SI

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2013
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Text Block]	'
	NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Basis of Presentation
	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) for interim financial reporting and in accordance with instructions for Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, the unaudited condensed consolidated financial statements contained in this report reflect all adjustments that are normal and recurring in nature and considered necessary for a fair presentation of the financial position and the results of operations for the interim periods presented. The year-end condensed balance sheet data was derived from audited financial statements, but does not include all disclosures required by GAAP. The results of operations for the interim period are not necessarily indicative of the results expected for the full year. These unaudited, condensed consolidated financial statements, footnote disclosures and other information should be read in conjunction with the financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012.
	Organization
	TransAKT Ltd. (the “Company”) was incorporated under the laws of the Province of Alberta on June 3, 1997. The Company completed the acquisition of Green Point Resources Inc. on October 18, 2000 whereby it became a publicly traded company listed on the Canadian Venture Exchange. In 2004 the Company voluntarily delisted from the TSX Venture Exchange and retained a listing on the Over the Counter Bulletin Board in the United States.
	In October 2004 the Company purchased certain assets of IP Mental Inc., a Taiwan based Voice over Internet Protocol (VoIP) company. The company name was changed from TransAKT Corp. to TransAKT Ltd. on September 29, 2006. The Company designs and develops Voice over Internet Protocol (“VoIP”) solutions and mobile payment terminals for the consumer electronics industry.
	On November 15, 2006 TransAKT Ltd and the shareholders of Taiwan Halee International Co. Ltd. (HTT), entered into a Share Exchange Agreement in which TransAKT Ltd. acquired 100% of Taiwan Halee International Co. Ltd.’s outstanding common stock. HTT was incorporated under the laws of Republic of China in 1985. HTT is engaged in designing, manufacturing and distribution of Taiwan telecommunications equipment. The acquisition has been accounted for as a reverse acquisition under the purchase method of accounting. Accordingly, the merger of the two companies has been recorded as a recapitalization of HTT, with HTT being treated as the continuing entity.
	On August 12, 2010, the Company filed the Registration Statement (Form S-4) in connection with the continuation of the Company from Alberta to Nevada. Based upon the number of common shares of TransAKT Ltd., a Nevada corporation (“TransAKT Nevada”), to be issued to the shareholders of TransAKT Ltd., an Alberta corporation (“TransAKT Alberta”), on a one-for-one basis upon completion of the Continuation and based on 102,645,120 shares of common stock of TransAKT Ltd., an Alberta corporation, issued and outstanding as of August 12, 2010.
	On July 26, 2012, the Company acquired 100% equity of Vegfab Agricultural Technology Co. Ltd. (the “Vegfab”), a company incorporated under the laws of the Republic of China (“ROC, Taiwan”). Vegfab is mainly engaged in selling agricultural equipment used to grow vegetables using simulated sunlight from LED lamps in hydroponic systems.
	On January 4, 2013, the Company entered into a Share Purchase and Sale Agreement with a shareholder pursuant to which the Company sold to him 100% of all issued and outstanding securities of its wholly owned subsidiary Taiwan Halee International Corporation (“HTT”). In consideration of the sale of HTT, the shareholder has transferred to the Company 45,000,000 previously issued common voting shares of TransAKT with a deemed value of $0.04 per share or $1.8 million in the aggregate.
	Principles of Consolidation
	The consolidated financial statements include the accounts of TransAKT Holdings Limited and its wholly owned subsidiaries Taiwan Halee International Co. Ltd., TransAKT Taiwan Limited, and Vegfab Agricultural Technology Co., Ltd., collectively referred to within as the Company. All material intercompany accounts, transactions and profits have been eliminated in consolidation.
	Discontinued operations
	Certain prior period amounts have been reclassified in these consolidated financial statements to conform to the presentation of discontinued operations of Taiwan Halee International Co. Ltd.
	Going Concern
	The Company has incurred a net loss of $2,530,889 and $1,041,283 during the nine months ended September 30, 2013 and 2012, respectively, and has an accumulated deficit of $6,442,681 as of September 30, 2013.
	The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. This basis of accounting contemplates the recovery of the Company’s assets and the satisfaction of liabilities in the normal course of business. This presentation presumes funds will be available to finance ongoing research and development, operations and capital expenditures and permit the realization of assets and the payment of liabilities in the normal course of operations for the foreseeable future.
	The ability of the Company to continue research and development projects and realize the capitalized value of proprietary technologies and related assets is dependent upon future commercial success of the technologies and raising sufficient funds to continue research and development as well as to effectively market its products. Through 2013, the Company has not realized commercial success of the technologies, nor have they raised sufficient funds to continue research and development or to market its products.
	There can be no assurances that there will be adequate financing available to the Company and the consolidated financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the outcome of this uncertainty.
	The Company has taken certain restructuring steps to provide the necessary capital to continue its operations. These steps included: (1) Tightly budgeting and controlling all expenses; (2) Expanding the company’s operations into China, expanding product lines and recruiting a strong sales team to significantly increase sales revenue and profit in 2013; (3) The Company plans to continue actively seeing additional funding opportunities to improve and expand upon our product lines.
	Use of Estimates
	The preparation of financial statements in conformity with generally accepted accounting principles in the United States (“GAAP”) requires management to make certain estimates and assumptions that affect the reported amounts of assets and 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. Actual results could differ from those estimates.
	Statement of Cash Flows
	In accordance with generally accepted accounting principles (GAAP), cash flows from the Company’s operations are based upon the local currencies. As a result, amounts related to assets and liabilities reported on the statement of cash flows will not necessarily agree with changes in the corresponding balances on the balance sheet.
	Cash and Cash Equivalents
	Cash and cash equivalents include cash in hand and cash in time deposits, certificates of deposit and all highly liquid debt instruments with original maturities of three months or less.
	Allowance for Doubtful Accounts
	The Company maintains reserves for potential credit losses on accounts receivable. Management reviews the composition of accounts receivable and analyzes historical bad debts, customer concentrations, customer credit worthiness, current economic trends and changes in customer payment patterns to evaluate the adequacy of these reserves. Allowance for doubtful debts amounted to $0 as at September 30, 2013 and December 31, 2012.
	Inventory
	Inventories are valued at the lower of cost (determined on a weighted average basis) or market. The Management compares the cost of inventories with the market value and allowance is made for writing down their inventories to market value, if lower. As of September 30, 2013 and December 31, 2012, inventory consisted only of finished goods.
	Comprehensive Income
	Comprehensive income includes accumulated foreign currency translation gains and losses. The Company has reported the components of comprehensive income on its statements of stockholders’ equity.
	Net Loss Per Share
	The Company has adopted Accounting Standards Codification subtopic 260-10, Earnings Per Share (“ASC 260-10”) which specifies the computation, presentation and disclosure requirements of earnings per share information. Basic earnings per share have been calculated based upon the weighted average number of common shares outstanding. Common equivalent shares are excluded from the computation of the diluted loss per share if their effect would be anti-dilutive.
	Intangible Assets
	Intangible assets include a patent. With the adoption of FASB ASC Topic 350, “Intangibles” (formerly SFAS No. 142), intangible assets with a definite life are amortized on a straight-line basis. The patent is being amortized over its estimated life of 10 years. Intangible assets with a definite life are tested for impairment whenever events or circumstances indicate that a carrying amount of an asset (asset group) may not be recoverable. An impairment loss would be recognized when the carrying amount of an asset exceeds the estimated undiscounted cash flows used in determining the fair value of the asset. The amount of the impairment loss to be recorded is calculated by the excess of the asset’s carrying value over its fair value. Fair value is generally determined using a discounted cash flow analysis. Costs related to internally develop intangible assets are expensed as incurred.
	Recent Accounting Pronouncements
	In July 2012, the Financial Accounting Standards Board (FASB) issued an amendment to Topic 350-Intangibles-Goodwill and Other. This amendment is intended to simplify how entities test indefinite lived intangible assets for impairment. The amendment permits an entity to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the two-step quantitative impairment test described in Topic 350. No further testing is required if the qualitative factors indicate that it is not more likely than not that the indefinite-lived intangible asset is impaired. This amendment is effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012. The Company does not expect this amendment to have any significant impact on the current year.
	Subsequent Events
	The Company evaluated all events or transactions that occurred after September 30, 2013 up through the date the Company issued these financial statements.

RELATED_PARTY_TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Sep. 30, 2013
RELATED PARTY TRANSACTIONS [Text Block]	'
	NOTE 2 - RELATED PARTY TRANSACTIONS
	The Company’s officers and shareholders have advanced funds to the Company for working capital purpose. The Company has not entered into any agreement on the repayment terms for these advances. As of September 30, 2013, there were $7,161,023 advances outstanding.

PROPERTY_PLANT_AND_EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	9 Months Ended
	Sep. 30, 2013
PROPERTY, PLANT AND EQUIPMENT [Text Block]	'
	NOTE 3 – PROPERTY, PLANT AND EQUIPMENT:
	Property, plant and equipment consist of the following:
			30-Sep-13			31-Dec-12
	Machine and equipment	$	1,548,617		$	310,974
	Furniture and fixtures		10,100			10,279
	Leasehold improvements		31,622			29,710
	Total cost		1,590,339			350,963
	Accumulated depreciation		(150,788	)		(46,375	)
		$	1,439,551		$	303,588
	Depreciation expenses were $97,823 and $9,176 for the nine months ended September 30, 2013 and 2012, respectively.

CONSTRUCTION_IN_PROGRESS

CONSTRUCTION IN PROGRESS	9 Months Ended
	Sep. 30, 2013
CONSTRUCTION IN PROGRESS [Text Block]	'
	NOTE 4 –CONSTRUCTION IN PROGRESS
	Construction in progress of $3,867,570 as of September 30, 2013 mainly consisted of construction of factory with agricultural equipment used to grow vegetables using simulated sunlight from LED lamps in hydroponic systems.

COMMON_STOCK

COMMON STOCK	9 Months Ended
	Sep. 30, 2013
COMMON STOCK [Text Block]	'
	NOTE 5 – COMMON STOCK
	On September 16, 2013, the Company issued 140,678,401 shares of common stock to fifty-seven individuals for aggregate proceeds of $9,300,785 at deemed prices as follows:
		1	30,986 shares at US$0.03 per share;
		2	4,017,557 shares at US$0.04 per share;
		3	29,768,176 shares at US$0.045 per share;
		4	21,961,580 shares at US$0.05 per share;
		5	4,525,102 shares at US$0.06 per share; and
		6	80,375,000 shares at US$0.08 per share.
	The Company paid $500,000 of commission to an individual for the above private placements.

DISCONTINUED_OPERATIONS

DISCONTINUED OPERATIONS	9 Months Ended
	Sep. 30, 2013
DISCONTINUED OPERATIONS [Text Block]	'
	NOTE 6 – DISCONTINUED OPERATIONS
	On January 4, 2013, the Company entered into a Share Purchase and Sale Agreement with Mr. Pan Yen Chu pursuant to which the Company sold to Mr. Pan 100% of all issued and outstanding securities of its wholly owned subsidiary Taiwan Halee International Corporation (“HTT”). In consideration of the sale of HTT, Mr. Pan has transferred to the Company 45,000,000 previously issued common voting shares of TransAKT with a deemed value of $0.04 per share or $1.8 million in the aggregate. The results of the HTT have been presented as a discontinued operation in the consolidated statements of operations. Selected operating results for the discontinued business are presented in the following tables:
			Nine Months ended			Three Months ended
			30-Sep-12			30-Sep-12
	Net revenue	$	6,864,419		$	2,214,032
	Cost of goods sold		6,422,812			2,024,384
	Selling, general, and administrative expenses		552,976			197,493
	Interest (expense) income, net		(26,851	)		(5,859	)
	Other income, net		25,794			10,318
	Loss before income taxes		(112,426	)		(3,386	)
	Income taxes		-			-
	Net loss	$	(112,426	)	$	(3,386	)
	The net assets distributed as of January 4, 2013 were as follows:
			4-Jan-13
	Cash & cash equivalents	$	439,223
	Restricted cash		494,875
	Inventory, net		1,206,396
	Accounts receivable, net		2,004,421
	Prepaid expenses		6,470
	Current assets	$	4,151,385
	Property, plant, and equipment, net		-
	All other assets		4,294
	Non-current assets	$	4,294
	Accounts payable		191,290
	Bank loan		1,979,049
	Current liabilities	$	2,170,339

SHAREBASED_COMPENSATION

SHARE-BASED COMPENSATION	9 Months Ended
	Sep. 30, 2013
SHARE-BASED COMPENSATION [Text Block]	'
	NOTE 7 – SHARE-BASED COMPENSATION
	On April 19, 2013, the Company granted to Mr. Christian Nielsen, accounting manager stock options to purchase 1,000,000 of the Company’s common stock for services performed for the Company, at an exercise price of $0.03 per share. The options have a five-year contractual term and are vested at the date of grant.
	In accordance with the guidance provided in ASC Topic 718, Stock Compensation, the compensation costs associated with these options are recognized, based on the grant-date fair values of these options, over the requisite service period, or vesting period. Accordingly, the Company recognized a compensation expense of $56,643 for the period ended September 30, 2013.
	The Company estimated the fair value of these options using the Black-Scholes-Merton option pricing model based on the following weighted-average assumptions:
	Date of grant		19-Apr-13
	Fair value of common stock on date of grant (A)	$	0.06
	Exercise price of the options	$	0.03
	Expected life of the options (years)		2.5
	Dividend yield		0.00%
	Expected volatility		223.57%
	Risk-free interest rate		0.27%
	Expected forfeiture per year (%)		0.00%
	Weighted-average fair value of the options (per unit)	$	0.0566
		(A)	The fair value of the Company's common stock was obtained from the closing price on the OTC Bulletin Board as of the dates of grant.
	Fair value hierarchy of the above assumptions can be categorized as follows:
	-1	Level 1 inputs include:
		Fair value of common stock on date of grant- Obtained from the closing price of the Company’s common stock quoted on the OTC Bulletin Board as of the date of grant.
	-2	Level 2 inputs include:
		Expected volatility- Based on historical volatility of the closing price of the Company’s common stock quoted on the OTC Bulletin Board.
		Risk-free rate- The risk-free rate of return reflects the interest rate for United States Treasury Note with similar time-to-maturity to that of the options.
	-3	Level 3 inputs include:
		Expected lives- The expected lives of options granted were derived from the output of the option valuation model and represented the period of time that options granted are expected to be outstanding.
		Expected forfeitures per year- The expected forfeitures are estimated at the dates of grant and will be revised in subsequent periods pursuant to actual forfeitures, if significantly different from the previous estimates.
	The estimates of fair value from the model are theoretical values of stock options and changes in the assumptions used in the model could result in materially different fair value estimates. The actual value of the stock options will depend on the market value of the Company’s common stock when the stock options are exercised.
	Options issued and outstanding as of September 30, 2013 and their activities during the twelve months then ended are as follows:
						Weighted-Average
			Number of		Weighted-Average	Contractual Life
			Underlying		Exercise Price Per	Remaining in
			Shares		Share	Years
	Outstanding as of January 1, 2013		-	$	-
	Granted		1,000,000		0.03
	Expired		-		-
	Forfeited		-		-
	Outstanding as of September 30, 2013		1,000,000		0.03	4.8
	Exercisable as of September 30, 2013		1,000,000		0.03	4.8
	Vested and expected to vest		1,000,000		0.03	4.8
	As of September 30, 2013, the aggregate intrinsic value of options outstanding was $56,643.

Summary_of_Significant_Account

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2013
Basis of Presentation [Policy Text Block]	'
	Basis of Presentation
	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) for interim financial reporting and in accordance with instructions for Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, the unaudited condensed consolidated financial statements contained in this report reflect all adjustments that are normal and recurring in nature and considered necessary for a fair presentation of the financial position and the results of operations for the interim periods presented. The year-end condensed balance sheet data was derived from audited financial statements, but does not include all disclosures required by GAAP. The results of operations for the interim period are not necessarily indicative of the results expected for the full year. These unaudited, condensed consolidated financial statements, footnote disclosures and other information should be read in conjunction with the financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012.
Organization [Policy Text Block]	'
	Organization
	TransAKT Ltd. (the “Company”) was incorporated under the laws of the Province of Alberta on June 3, 1997. The Company completed the acquisition of Green Point Resources Inc. on October 18, 2000 whereby it became a publicly traded company listed on the Canadian Venture Exchange. In 2004 the Company voluntarily delisted from the TSX Venture Exchange and retained a listing on the Over the Counter Bulletin Board in the United States.
	In October 2004 the Company purchased certain assets of IP Mental Inc., a Taiwan based Voice over Internet Protocol (VoIP) company. The company name was changed from TransAKT Corp. to TransAKT Ltd. on September 29, 2006. The Company designs and develops Voice over Internet Protocol (“VoIP”) solutions and mobile payment terminals for the consumer electronics industry.
	On November 15, 2006 TransAKT Ltd and the shareholders of Taiwan Halee International Co. Ltd. (HTT), entered into a Share Exchange Agreement in which TransAKT Ltd. acquired 100% of Taiwan Halee International Co. Ltd.’s outstanding common stock. HTT was incorporated under the laws of Republic of China in 1985. HTT is engaged in designing, manufacturing and distribution of Taiwan telecommunications equipment. The acquisition has been accounted for as a reverse acquisition under the purchase method of accounting. Accordingly, the merger of the two companies has been recorded as a recapitalization of HTT, with HTT being treated as the continuing entity.
	On August 12, 2010, the Company filed the Registration Statement (Form S-4) in connection with the continuation of the Company from Alberta to Nevada. Based upon the number of common shares of TransAKT Ltd., a Nevada corporation (“TransAKT Nevada”), to be issued to the shareholders of TransAKT Ltd., an Alberta corporation (“TransAKT Alberta”), on a one-for-one basis upon completion of the Continuation and based on 102,645,120 shares of common stock of TransAKT Ltd., an Alberta corporation, issued and outstanding as of August 12, 2010.
Principles of Consolidation [Policy Text Block]	'
	Principles of Consolidation
	The consolidated financial statements include the accounts of TransAKT Holdings Limited and its wholly owned subsidiaries Taiwan Halee International Co. Ltd., TransAKT Taiwan Limited, and Vegfab Agricultural Technology Co., Ltd., collectively referred to within as the Company. All material intercompany accounts, transactions and profits have been eliminated in consolidation.
Discontinued operations [Policy Text Block]	'
	Discontinued operations
	Certain prior period amounts have been reclassified in these consolidated financial statements to conform to the presentation of discontinued operations of Taiwan Halee International Co. Ltd.
Going Concern [Policy Text Block]	'
	Going Concern
	The Company has incurred a net loss of $2,530,889 and $1,041,283 during the nine months ended September 30, 2013 and 2012, respectively, and has an accumulated deficit of $6,442,681 as of September 30, 2013.
	The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. This basis of accounting contemplates the recovery of the Company’s assets and the satisfaction of liabilities in the normal course of business. This presentation presumes funds will be available to finance ongoing research and development, operations and capital expenditures and permit the realization of assets and the payment of liabilities in the normal course of operations for the foreseeable future.
	The ability of the Company to continue research and development projects and realize the capitalized value of proprietary technologies and related assets is dependent upon future commercial success of the technologies and raising sufficient funds to continue research and development as well as to effectively market its products. Through 2013, the Company has not realized commercial success of the technologies, nor have they raised sufficient funds to continue research and development or to market its products.
	There can be no assurances that there will be adequate financing available to the Company and the consolidated financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the outcome of this uncertainty.
	The Company has taken certain restructuring steps to provide the necessary capital to continue its operations. These steps included: (1) Tightly budgeting and controlling all expenses; (2) Expanding the company’s operations into China, expanding product lines and recruiting a strong sales team to significantly increase sales revenue and profit in 2013; (3) The Company plans to continue actively seeing additional funding opportunities to improve and expand upon our product lines.
Statement of Cash Flows [Policy Text Block]	'
	Use of Estimates
	The preparation of financial statements in conformity with generally accepted accounting principles in the United States (“GAAP”) requires management to make certain estimates and assumptions that affect the reported amounts of assets and 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. Actual results could differ from those estimates.
Cash and Cash Equivalents [Policy Text Block]	'
	Statement of Cash Flows
	In accordance with generally accepted accounting principles (GAAP), cash flows from the Company’s operations are based upon the local currencies. As a result, amounts related to assets and liabilities reported on the statement of cash flows will not necessarily agree with changes in the corresponding balances on the balance sheet.
Allowance for Doubtful Accounts [Policy Text Block]	'
	Cash and Cash Equivalents
	Cash and cash equivalents include cash in hand and cash in time deposits, certificates of deposit and all highly liquid debt instruments with original maturities of three months or less.
Inventory [Policy Text Block]	'
	Allowance for Doubtful Accounts
	The Company maintains reserves for potential credit losses on accounts receivable. Management reviews the composition of accounts receivable and analyzes historical bad debts, customer concentrations, customer credit worthiness, current economic trends and changes in customer payment patterns to evaluate the adequacy of these reserves. Allowance for doubtful debts amounted to $0 as at September 30, 2013 and December 31, 2012.
Comprehensive Income [Policy Text Block]	'
	Comprehensive Income
	Comprehensive income includes accumulated foreign currency translation gains and losses. The Company has reported the components of comprehensive income on its statements of stockholders’ equity.
Net Loss Per Share [Policy Text Block]	'
	Net Loss Per Share
	The Company has adopted Accounting Standards Codification subtopic 260-10, Earnings Per Share (“ASC 260-10”) which specifies the computation, presentation and disclosure requirements of earnings per share information. Basic earnings per share have been calculated based upon the weighted average number of common shares outstanding. Common equivalent shares are excluded from the computation of the diluted loss per share if their effect would be anti-dilutive.
Intangible Assets [Policy Text Block]	'
	Intangible Assets
	Intangible assets include a patent. With the adoption of FASB ASC Topic 350, “Intangibles” (formerly SFAS No. 142), intangible assets with a definite life are amortized on a straight-line basis. The patent is being amortized over its estimated life of 10 years. Intangible assets with a definite life are tested for impairment whenever events or circumstances indicate that a carrying amount of an asset (asset group) may not be recoverable. An impairment loss would be recognized when the carrying amount of an asset exceeds the estimated undiscounted cash flows used in determining the fair value of the asset. The amount of the impairment loss to be recorded is calculated by the excess of the asset’s carrying value over its fair value. Fair value is generally determined using a discounted cash flow analysis. Costs related to internally develop intangible assets are expensed as incurred.
Recent Accounting Pronouncements [Policy Text Block]	'
	Recent Accounting Pronouncements
	In July 2012, the Financial Accounting Standards Board (FASB) issued an amendment to Topic 350-Intangibles-Goodwill and Other. This amendment is intended to simplify how entities test indefinite lived intangible assets for impairment. The amendment permits an entity to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the two-step quantitative impairment test described in Topic 350. No further testing is required if the qualitative factors indicate that it is not more likely than not that the indefinite-lived intangible asset is impaired. This amendment is effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012. The Company does not expect this amendment to have any significant impact on the current year.
Subsequent Events [Policy Text Block]	'
	Subsequent Events
	The Company evaluated all events or transactions that occurred after September 30, 2013 up through the date the Company issued these financial statements.

PROPERTY_PLANT_AND_EQUIPMENT_T

PROPERTY, PLANT AND EQUIPMENT (Tables)	9 Months Ended
	Sep. 30, 2013
Schedule of Property, Plant and Equipment [Table Text Block]	'
			30-Sep-13			31-Dec-12
	Machine and equipment	$	1,548,617		$	310,974
	Furniture and fixtures		10,100			10,279
	Leasehold improvements		31,622			29,710
	Total cost		1,590,339			350,963
	Accumulated depreciation		(150,788	)		(46,375	)
		$	1,439,551		$	303,588

DISCONTINUED_OPERATIONS_Tables

DISCONTINUED OPERATIONS (Tables)	9 Months Ended
	Sep. 30, 2013
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement [Table Text Block]	'
			Nine Months ended			Three Months ended
			30-Sep-12			30-Sep-12
	Net revenue	$	6,864,419		$	2,214,032
	Cost of goods sold		6,422,812			2,024,384
	Selling, general, and administrative expenses		552,976			197,493
	Interest (expense) income, net		(26,851	)		(5,859	)
	Other income, net		25,794			10,318
	Loss before income taxes		(112,426	)		(3,386	)
	Income taxes		-			-
	Net loss	$	(112,426	)	$	(3,386	)
Schedule of Disposal Groups, Including Discontinued Operations, Balance Sheet [Table Text Block]	'
			4-Jan-13
	Cash & cash equivalents	$	439,223
	Restricted cash		494,875
	Inventory, net		1,206,396
	Accounts receivable, net		2,004,421
	Prepaid expenses		6,470
	Current assets	$	4,151,385
	Property, plant, and equipment, net		-
	All other assets		4,294
	Non-current assets	$	4,294
	Accounts payable		191,290
	Bank loan		1,979,049
	Current liabilities	$	2,170,339

SHAREBASED_COMPENSATION_Tables

SHARE-BASED COMPENSATION (Tables)	9 Months Ended
	Sep. 30, 2013
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	'
	Date of grant		19-Apr-13
	Fair value of common stock on date of grant (A)	$	0.06
	Exercise price of the options	$	0.03
	Expected life of the options (years)		2.5
	Dividend yield		0.00%
	Expected volatility		223.57%
	Risk-free interest rate		0.27%
	Expected forfeiture per year (%)		0.00%
	Weighted-average fair value of the options (per unit)	$	0.0566
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	'
						Weighted-Average
			Number of		Weighted-Average	Contractual Life
			Underlying		Exercise Price Per	Remaining in
			Shares		Share	Years
	Outstanding as of January 1, 2013		-	$	-
	Granted		1,000,000		0.03
	Expired		-		-
	Forfeited		-		-
	Outstanding as of September 30, 2013		1,000,000		0.03	4.8
	Exercisable as of September 30, 2013		1,000,000		0.03	4.8
	Vested and expected to vest		1,000,000		0.03	4.8

ORGANIZATION_AND_SUMMARY_OF_SI1

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details) (USD $)	9 Months Ended
	Sep. 30, 2013
	Y
Organization And Summary Of Significant Accounting Policies 1	100.00%
Organization And Summary Of Significant Accounting Policies 2	102,645,120
Organization And Summary Of Significant Accounting Policies 3	100.00%
Organization And Summary Of Significant Accounting Policies 4	100.00%
Organization And Summary Of Significant Accounting Policies 5	45,000,000
Organization And Summary Of Significant Accounting Policies 6	$0.04
Organization And Summary Of Significant Accounting Policies 7	$1,800,000
Organization And Summary Of Significant Accounting Policies 8	2,530,889
Organization And Summary Of Significant Accounting Policies 9	1,041,283
Organization And Summary Of Significant Accounting Policies 10	6,442,681
Organization And Summary Of Significant Accounting Policies 11	$0
Organization And Summary Of Significant Accounting Policies 9	10

RELATED_PARTY_TRANSACTIONS_Nar

RELATED PARTY TRANSACTIONS (Narrative) (Details) (USD $)	9 Months Ended
	Sep. 30, 2013
Related Party Transactions 1	$7,161,023

PROPERTY_PLANT_AND_EQUIPMENT_N

PROPERTY, PLANT AND EQUIPMENT (Narrative) (Details) (USD $)	9 Months Ended
	Sep. 30, 2013
Property, Plant And Equipment 1	$97,823
Property, Plant And Equipment 2	$9,176

CONSTRUCTION_IN_PROGRESS_Narra

CONSTRUCTION IN PROGRESS (Narrative) (Details) (USD $)	9 Months Ended
	Sep. 30, 2013
Construction In Progress 1	$3,867,570

COMMON_STOCK_Narrative_Details

COMMON STOCK (Narrative) (Details) (USD $)	9 Months Ended
	Sep. 30, 2013
Common Stock 1	140,678,401
Common Stock 2	$9,300,785
Common Stock 3	30,986
Common Stock 4	$0.03
Common Stock 5	4,017,557
Common Stock 6	$0.04
Common Stock 7	29,768,176
Common Stock 8	$0.05
Common Stock 9	21,961,580
Common Stock 10	$0.05
Common Stock 11	4,525,102
Common Stock 12	$0.06
Common Stock 13	80,375,000
Common Stock 14	$0.08
Common Stock 15	$500,000

DISCONTINUED_OPERATIONS_Narrat

DISCONTINUED OPERATIONS (Narrative) (Details) (USD $)	9 Months Ended
In Millions, except Per Share data, unless otherwise specified	Sep. 30, 2013
Discontinued Operations 1	100.00%
Discontinued Operations 2	45,000,000
Discontinued Operations 3	$0.04
Discontinued Operations 4	$2

SHAREBASED_COMPENSATION_Narrat

SHARE-BASED COMPENSATION (Narrative) (Details) (USD $)	9 Months Ended
	Sep. 30, 2013
Share-based Compensation 1	1,000,000
Share-based Compensation 2	$0.03
Share-based Compensation 3	$56,643
Share-based Compensation 4	$56,643

Schedule_of_Property_Plant_and

Schedule of Property, Plant and Equipment (Details) (USD $)	9 Months Ended
	Sep. 30, 2013
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 1	$1,548,617
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 2	310,974
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 3	10,100
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 4	10,279
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 5	31,622
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 6	29,710
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 7	1,590,339
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 8	350,963
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 9	-150,788
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 10	-46,375
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 11	1,439,551
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 12	$303,588

Schedule_of_Disposal_Groups_In

Schedule of Disposal Groups, Including Discontinued Operations, Income Statement (Details) (USD $)	9 Months Ended
	Sep. 30, 2013
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 1	$6,864,419
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 2	2,214,032
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 3	6,422,812
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 4	2,024,384
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 5	552,976
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 6	197,493
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 7	-26,851
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 8	-5,859
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 9	25,794
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 10	10,318
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 11	-112,426
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 12	-3,386
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 13	0
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 14	0
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 15	-112,426
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Income Statement 16	($3,386)

Schedule_of_Disposal_Groups_In1

Schedule of Disposal Groups, Including Discontinued Operations, Balance Sheet (Details) (USD $)	9 Months Ended
	Sep. 30, 2013
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Balance Sheet 1	$439,223
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Balance Sheet 2	494,875
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Balance Sheet 3	1,206,396
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Balance Sheet 4	2,004,421
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Balance Sheet 5	6,470
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Balance Sheet 6	4,151,385
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Balance Sheet 7	0
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Balance Sheet 8	4,294
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Balance Sheet 9	4,294
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Balance Sheet 10	191,290
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Balance Sheet 11	1,979,049
Discontinued Operations Schedule Of Disposal Groups, Including Discontinued Operations, Balance Sheet 12	$2,170,339

Schedule_of_Sharebased_Payment

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Details)	9 Months Ended
	Sep. 30, 2013
Share-based Compensation Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 1	0.06
Share-based Compensation Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 2	0.03
Share-based Compensation Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 3	2.5
Share-based Compensation Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 4	0.00%
Share-based Compensation Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 5	223.57%
Share-based Compensation Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 6	0.27%
Share-based Compensation Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 7	0.00%
Share-based Compensation Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 8	0.0566

Schedule_of_Sharebased_Compens

Schedule of Share-based Compensation, Stock Options, Activity (Details) (USD $)	9 Months Ended
	Sep. 30, 2013
Share-based Compensation Schedule Of Share-based Compensation, Stock Options, Activity 1	$0
Share-based Compensation Schedule Of Share-based Compensation, Stock Options, Activity 2	0
Share-based Compensation Schedule Of Share-based Compensation, Stock Options, Activity 3	1,000,000
Share-based Compensation Schedule Of Share-based Compensation, Stock Options, Activity 4	0.03
Share-based Compensation Schedule Of Share-based Compensation, Stock Options, Activity 5	0
Share-based Compensation Schedule Of Share-based Compensation, Stock Options, Activity 6	0
Share-based Compensation Schedule Of Share-based Compensation, Stock Options, Activity 7	0
Share-based Compensation Schedule Of Share-based Compensation, Stock Options, Activity 8	0
Share-based Compensation Schedule Of Share-based Compensation, Stock Options, Activity 9	1,000,000
Share-based Compensation Schedule Of Share-based Compensation, Stock Options, Activity 10	0.03
Share-based Compensation Schedule Of Share-based Compensation, Stock Options, Activity 11	4.8
Share-based Compensation Schedule Of Share-based Compensation, Stock Options, Activity 12	1,000,000
Share-based Compensation Schedule Of Share-based Compensation, Stock Options, Activity 13	0.03
Share-based Compensation Schedule Of Share-based Compensation, Stock Options, Activity 14	4.8
Share-based Compensation Schedule Of Share-based Compensation, Stock Options, Activity 15	$1,000,000
Share-based Compensation Schedule Of Share-based Compensation, Stock Options, Activity 16	0.03
Share-based Compensation Schedule Of Share-based Compensation, Stock Options, Activity 17	4.8