Document_And_Entity_Informatio
Document And Entity Information | 12 Months Ended |
Dec. 31, 2012 | |
Document Information [Line Items] | ' |
Entity Registrant Name | 'China Cablecom Holdings, Ltd. |
Entity Central Index Key | '0001416569 |
Current Fiscal Year End Date | '--12-31 |
Entity Filer Category | 'Non-accelerated Filer |
Trading Symbol | 'CABLF |
Entity Common Stock, Shares Outstanding | 14,575,235 |
Document Type | '20-F |
Amendment Flag | 'false |
Document Period End Date | 31-Dec-12 |
Document Fiscal Period Focus | 'FY |
Document Fiscal Year Focus | '2012 |
Entity Well-known Seasoned Issuer | 'No |
Entity Voluntary Filers | 'No |
Entity Current Reporting Status | 'No |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Dec. 31, 2012 | Dec. 31, 2011 |
ASSETS | ' | ' |
Cash and cash equivalents | $10,080,336 | $592,709 |
Prepaid expenses and advances | 3,715 | 60,356 |
Other receivables | 318,193 | 0 |
Total Current Assets | 10,402,244 | 653,065 |
Property, plant & equipment, net | 3,782 | 21,726 |
Investment in operating joint venture | 0 | 50,378,205 |
Loan advances | 1,322,090 | 0 |
Other Assets: | ' | ' |
Deferred financing costs, net | 0 | 1,300,671 |
Total Assets | 11,728,116 | 52,353,667 |
LIABILITIES AND SHAREHOLDERS’ EQUITY | ' | ' |
Promissory note | 417,151 | 417,151 |
Other current liabilities | 5,353,322 | 6,210,075 |
Amount due to Hubei Chutian | 0 | 3,189,195 |
Senior secured notes | 0 | 14,182,704 |
Secured notes | 0 | 16,159,035 |
Unsecured notes | 0 | 4,218,128 |
Total Current Liabilities | 5,770,473 | 44,376,288 |
COMMITMENTS AND CONTINGENCIES | ' | ' |
SHAREHOLDERS’ EQUITY | ' | ' |
Ordinary shares, $.0015 par value; 51,666,667 authorized shares, 14,595,326 shares issued and outstanding (December 31, 2011 13,693,780 shares issued) | 21,893 | 20,541 |
Additional paid-in capital | 117,572,683 | 116,031,025 |
Accumulated deficit | -111,297,838 | -105,308,994 |
Accumulated other comprehensive income | -370,834 | -2,796,932 |
Total shareholders’ equity | 5,957,643 | 7,977,379 |
Total liabilities and shareholders’ equity | 11,728,116 | 52,353,667 |
Series A Convertible Preferred Stock [Member] | ' | ' |
SHAREHOLDERS’ EQUITY | ' | ' |
Preferred Stock, Value, Issued | 25,169 | 25,169 |
Series B Convertible Preferred Stock [Member] | ' | ' |
SHAREHOLDERS’ EQUITY | ' | ' |
Preferred Stock, Value, Issued | $6,570 | $6,570 |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS [Paranthetical] (USD $) | Dec. 31, 2012 | Dec. 31, 2011 |
Common Stock, Par or Stated Value Per Share | $0.00 | $0.00 |
Common Stock, Shares Authorized | 51,666,667 | 51,666,667 |
Common Stock, Shares, Issued | 14,595,326 | 13,693,780 |
Common Stock, Shares, Outstanding | 14,595,326 | ' |
Series A Convertible Preferred Stock [Member] | ' | ' |
Preferred Stock, Par or Stated Value Per Share | $0.00 | $0.00 |
Preferred Stock, Shares Authorized | 70,000,000 | 70,000,000 |
Preferred Stock, Shares Issued | 50,338,385 | 50,338,385 |
Preferred Stock, Shares Outstanding | 50,338,385 | ' |
Series B Convertible Preferred Stock [Member] | ' | ' |
Preferred Stock, Par or Stated Value Per Share | $0.00 | $0.00 |
Preferred Stock, Shares Authorized | 25,000,000 | 25,000,000 |
Preferred Stock, Shares Issued | 13,140,459 | 13,140,459 |
Preferred Stock, Shares Outstanding | 13,140,459 | ' |
CONSOLIDATED_STATEMENTS_OF_OPE
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) | 12 Months Ended | ||
Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Management fee income | $0 | $4,632,022 | $4,450,438 |
Share of loss on operating joint ventures | 0 | -2,448,005 | -8,247,873 |
Gain on disposal of investment | 7,889,513 | 0 | 0 |
Revenues | 7,889,513 | 2,184,017 | -3,797,435 |
Operating expenses | ' | ' | ' |
General and administrative expenses | 3,178,337 | 4,705,283 | 5,450,965 |
Total operating expenses | 3,178,337 | 4,705,283 | 5,450,965 |
Gain / (loss) from operations | 4,711,176 | -2,521,266 | -9,248,400 |
Other income / (expenses) | ' | ' | ' |
Interest income | 144,022 | 945 | 10,566 |
Interest expense | -10,844,031 | -6,639,531 | -4,211,707 |
Forfeiture of investment fund | 0 | -754,979 | 0 |
Provision for impairment on investment | 0 | -9,806,150 | 0 |
Other income | 0 | 0 | 17,566 |
Total other expenses | -10,700,009 | -17,199,715 | -4,183,575 |
Loss before income taxes | -5,988,833 | -19,720,981 | -13,431,975 |
Income taxes expenses | -11 | -1,015,951 | -975,712 |
Net loss | ($5,988,844) | ($20,736,932) | ($14,407,687) |
Net loss per ordinary share | ' | ' | ' |
- Basic and fully diluted (in dollars per share) | ($0.42) | ($1.57) | ($1.97) |
Weighted average number of shares | ' | ' | ' |
- Basic and fully diluted (in shares) | 14,377,967 | 13,244,284 | 7,327,475 |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (USD $) | 12 Months Ended | ||
Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Net loss | ($5,988,844) | ($20,736,932) | ($14,407,687) |
Other comprehensive income / (loss), net of tax: | ' | ' | ' |
Foreign currency translation adjustment - Company | 2,426,098 | -2,562,602 | 324,588 |
Foreign currency translation adjustment - Operating joint ventures | 0 | -639,366 | -486,011 |
Total other comprehensive income / (loss) from continuing operations, net of tax | 2,426,098 | -3,201,968 | -161,423 |
Comprehensive loss attributable to the Company | ($3,562,746) | ($23,938,900) | ($14,569,110) |
CONSOLIDATED_STATEMENTS_OF_CHA
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (USD $) | Total | Series A Preferred Stock [Member] | Series B Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
Balance at Dec. 31, 2009 | $39,904,647 | $31,081 | $11,579 | $7,033 | $109,452,870 | ($70,164,375) | $566,459 |
Balance (in shares) at Dec. 31, 2009 | ' | 62,161,965 | 23,158,080 | 4,688,151 | ' | ' | ' |
Share issued as payment for interest | 1,092,052 | 0 | 0 | 2,249 | 1,089,803 | 0 | 0 |
Share issued as payment for interest (in shares) | ' | 0 | 0 | 1,500,225 | ' | ' | ' |
Share issued as payment for legal fee | 326,251 | 0 | 0 | 338 | 325,913 | 0 | 0 |
Share issued as payment for legal fee (in shares) | ' | 0 | 0 | 225,000 | ' | ' | ' |
Conversion of Preferred Shares | 1,820,195 | -3,273 | -4,167 | 7,440 | 1,820,195 | 0 | 0 |
Conversion of Preferred Shares (in shares) | ' | -6,546,185 | -8,333,397 | 4,959,865 | ' | ' | ' |
Stock option compensation expenses | 1,679,368 | 0 | 0 | 0 | 1,679,368 | 0 | 0 |
Net loss | -14,407,687 | 0 | 0 | 0 | 0 | -14,407,687 | 0 |
Cumulative translation adjustment | -161,423 | 0 | 0 | 0 | 0 | 0 | -161,423 |
Balance at Dec. 31, 2010 | 30,253,403 | 27,808 | 7,412 | 17,060 | 114,368,149 | -84,572,062 | 405,036 |
Balance (in shares) at Dec. 31, 2010 | ' | 55,615,780 | 14,824,683 | 11,373,241 | ' | ' | ' |
Conversion of Preferred Shares | 0 | -2,639 | -842 | 3,481 | ' | 0 | 0 |
Conversion of Preferred Shares (in shares) | ' | -5,277,395 | -1,684,224 | 2,320,539 | ' | ' | ' |
Stock option compensation expenses | 1,662,876 | 0 | 0 | 0 | 1,662,876 | 0 | 0 |
Net loss | -20,736,932 | 0 | 0 | 0 | 0 | -20,736,932 | 0 |
Cumulative translation adjustment | -3,201,968 | 0 | 0 | 0 | 0 | 0 | -3,201,968 |
Balance at Dec. 31, 2011 | 7,977,379 | 25,169 | 6,570 | 20,541 | 116,031,025 | -105,308,994 | -2,796,932 |
Balance (in shares) at Dec. 31, 2011 | ' | 50,338,385 | 13,140,459 | 13,693,780 | ' | ' | ' |
Stock option compensation expenses | 1,428,847 | 0 | 0 | 0 | 1,428,847 | 0 | 0 |
Share issued as payment for expenses | 114,163 | 0 | 0 | 1,352 | 112,811 | 0 | 0 |
Share issued as payment for expenses (in shares) | ' | 0 | 0 | 901,546 | ' | ' | ' |
Net loss | -5,988,844 | 0 | 0 | 0 | 0 | -5,988,844 | 0 |
Cumulative translation adjustment | 2,426,098 | 0 | 0 | 0 | 0 | 0 | 2,426,098 |
Balance at Dec. 31, 2012 | $5,957,643 | $25,169 | $6,570 | $21,893 | $117,572,683 | ($111,297,838) | ($370,834) |
Balance (in shares) at Dec. 31, 2012 | ' | 50,338,385 | 13,140,459 | 14,595,326 | ' | ' | ' |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 12 Months Ended | ||
Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Cash Flows From Operating Activities: | ' | ' | ' |
Net loss | ($5,988,844) | ($20,736,932) | ($14,407,687) |
Adjustments to reconcile net loss to net cash provided by operating activities: | ' | ' | ' |
Depreciation | 18,452 | 120,556 | 68,128 |
Share of loss on operating joint ventures | 0 | 2,448,005 | 8,247,873 |
Stock compensation expenses | 1,428,847 | 1,662,876 | 1,679,368 |
Gain on disposal of investment | -7,889,513 | 0 | 0 |
Amortization of deferred financing costs | 1,300,671 | 343,272 | 343,272 |
Interest expenses - Interest for Senior secured notes, Secured and Unsecured notes | 10,790,579 | 6,102,720 | 3,714,142 |
Interest expenses - Interest for promissory notes | 51,084 | 18,557 | 0 |
Forfeiture of investment fund | 0 | 754,979 | 0 |
Provision for impairment on investment | 0 | 9,806,150 | 0 |
Change in assets and liabilities, | ' | ' | ' |
Prepaid expenses and advances | -3,218,689 | 1,334,949 | 2,141,867 |
Amount due to Hubei Chutian | 0 | -4,116,169 | -3,683,111 |
Other current liabilities | -89,210 | 1,472,466 | 1,926,001 |
Net cash (used in) / provided by operating activities | -3,596,623 | -788,571 | 29,853 |
Cash Flows From Investing Activities: | ' | ' | ' |
Purchase of property, plant and equipment | -477 | -155 | -43,645 |
Proceeds from disposal of investment | 59,133,278 | ' | ' |
Capital investment in operating joint ventures | 0 | 0 | -6,657,839 |
Net cash provided by / (used in) investing activities | 59,132,801 | -155 | -6,701,484 |
Cash Flows From Financing Activities: | ' | ' | ' |
Cash received from offshore loan | 0 | 0 | 286,892 |
Repayment of senior secured notes | -25,683,910 | 0 | 0 |
Repayment of secured notes | -16,159,035 | 0 | 0 |
Repayment of unsecured notes | -4,218,128 | 0 | 0 |
Proceeds from issuance of promissory notes | 0 | 417,151 | 0 |
Net cash (used in) / provided by financing activities | -46,061,073 | 417,151 | 286,892 |
Effect of exchange rate changes on cash | 12,522 | 35,212 | 321,270 |
Net increase / (decrease) in cash | 9,487,627 | -336,363 | -6,063,469 |
Cash and cash equivalents at beginning of period | 592,709 | 929,072 | 6,992,541 |
Cash and cash equivalents at end of period | 10,080,336 | 592,709 | 929,072 |
Supplemental cash flow information: | ' | ' | ' |
Interest paid | 6,543,910 | 0 | 0 |
Income taxes paid | 11 | 10 | 24 |
Accretion discount on senior secured notes | 11,673,530 | 0 | 0 |
Value assigned to shares issued as payment for expenses | 114,163 | 0 | 0 |
Value assigned to shares issued as payment for legal fee | 0 | 0 | 326,251 |
Value assigned to shares issued as payment for interest expense | 0 | 0 | 1,092,052 |
Reduction of Notes as the result of conversion of Preferred Shares to Ordinary Shares | $0 | $0 | $1,820,195 |
Organization_and_Basis_of_Prep
Organization and Basis of Preparation of Financial Statements | 12 Months Ended | |||||||
Dec. 31, 2012 | ||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | |||||||
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | ' | |||||||
1 | Organization and Basis of Preparation of Financial Statements | |||||||
China Cablecom Ltd. was incorporated under the laws of the British Virgin Islands on October 6, 2006. | ||||||||
On April 9, 2008, China Cablecom Ltd. and Jaguar Acquisition Corporation ("Jaguar"), a special purpose acquisition company, completed a redomestication merger of Jaguar in the British Virgin Islands as China Cablecom Holdings, Ltd. (the “Company” or “China Cablecom”) and the concurrent business combination merger with China Cablecom Ltd. | ||||||||
Prior to the merger with the Company, Jaguar issued 4,950,000 units (“Units”), each representing one ordinary share and two warrants. | ||||||||
In accordance with the merger agreement, the following occurred with respect to the outstanding Class A Preferred stock and Ordinary shares of China Cablecom Ltd. and the ordinary shares and warrants, including those under the Units, of Jaguar: | ||||||||
i) | all of the Class A preferred stock and ordinary shares of China Cablecom Ltd. were cancelled and each registered owner of outstanding preferred stock and ordinary shares of China Cablecom Ltd. automatically become the registered owner of one and 0.6842 shares of the Company, respectively | |||||||
ii) | all of the common shares of Jaguar were cancelled and each registered owner of outstanding common shares of Jaguar automatically become the registered owner of one ordinary share of the Company | |||||||
iii) | all of the outstanding warrants were assumed by the Company and became exercisable for the Company’s current shares at the original exercise price, US$ 5.00 per share. | |||||||
For financial reporting purposes, this merger transaction was recorded as a recapitalization of China Cablecom Ltd. whereby China Cablecom Ltd. is deemed to be the continuing, surviving entity for accounting purpose, but through reorganization, has deemed to have adopted the capital structure of the Company. | ||||||||
China Cablecom Ltd is the sole shareholder of China Cablecom Company Limited (“HK Cablecom”) incorporated in Hong Kong on May 22, 2007. | ||||||||
HK Cablecom owns 100% of Heze Cablecom Network Technology Co., Ltd ("HZNT") incorporated under the laws of the People’s Republic of China (“PRC”) on October 9, 2007. | ||||||||
The Company, through HK Cablecom and HZNT, entered into a series of contractual arrangement with Jinan Youxiantong Network Technology Co. Ltd ("JYNT") and its shareholders. As a result of the following contractual arrangements, the Company controlled and were considered the primary beneficiary of JYNT (Variable Interest Entities “V.I.E.) as defined under FASB ASC 810-10. JYNT incorporated under the laws of the PRC on July 16, 2007. | ||||||||
The following was a summary of the currently effective contracts among our wholly owned subsidiaries HZNT and HK Cablecom, our JYNT (V.I.E.) and its nominee shareholders. | ||||||||
l | Loan Agreements: pursuant to loan agreements dated June 30, 2007, HK Cablecom extended loans of RMB484,500 and RMB25,500 respectively to Pu Yue and Liang Yuejing. Upon the occurrence of an event of default or otherwise, HK Cablecom may, at its discretion, issue a repayment notice to Pu Yue and/or Liang Yuejing requesting repayment of all or any portion of the loans (as applicable). Pu Yue and Liang Yuejing may only repay the loan by transferring their equity interests in JYNT to HK Cablecom or HK Cablecom’s designees within 5 business days. | |||||||
l | Exclusive Service Agreements: pursuant to exclusive service agreements between JYNT and HZNT, JYNT engages HZNT to be its sole and exclusive provider of management, consulting, training and technical services. Service fees are to be paid monthly by JYNT to HZNT in an amount equal to JYNT’s net profits minus the profit to be retained by JYNT as determined by a reputable CPA agreed to by both parties. The exclusive service agreements shall continue indefinitely unless terminated by HZNT with 30 days’ prior written notice or by a non-breaching party after the breaching party has not rectified the breach for within 30 days of its receipt of notice from the non-breaching party. | |||||||
l | Equity Option Agreements: pursuant to equity option agreements dated July 20, 2007, the shareholders of JYNT have granted HZNT an exclusive and irrevocable option to purchase all or part of their equity interests in JYNT at any time. The option may only be terminated by mutual consent or at the direction of HZNT. HZNT may exercise this option at any time until it has acquired all equity interests of JYNT and it can set off the purchase price against the loan repayment under the loan agreements. The shareholders of JYNT covenant that they will not approve any plan by JYNT to distribute dividends or otherwise seek to influence JYNT’s management, and must approve any action requested by HZNT in writing to the extent permitted by law. | |||||||
l | Equity Pledge Agreements: pursuant to equity pledge agreements entered into between HZNT and each of Pu Yue and Liang Yuejing, respectively, dated July 20, 2007, Pu Yue and Liang Yuejing pledge their entire equity interests in JYNT to guarantee JYNT’s payment obligation under the exclusive service agreement between JYNT and HZNT, and the loan agreement, and their performance of their own obligations under the Option Agreement. HZNT is entitled to (i) collect dividends and other distributions, if any, arising from the pledged equity interests; and (ii) in an event of default, freely sell the pledged equity interests and collect the proceeds therefrom. Without HZNT’s consent, the shareholders of JYNT may not (i) transfer or pledge their equity interests in JYNT, (ii) receive any dividends, loan interest or other benefits from JYNT, or (iii) make any material adjustment or change to JYNT’s business or operations. | |||||||
l | Power of Attorney: pursuant to a power of attorney signed by Pu Yue and Liang Yuejing, Pu Yue and Liang Yuejing appointed HK Cablecom’s designee as their attorneys-in-fact to exercise all voting rights as shareholders of JYNT, including the ability to vote as a shareholder of JYNT, sell or transfer their equity interest in JYNT and designate and appoint the directors, general manager, chief financial officer and other senior officers of JYNT. This power of attorney is effective until the earlier of 2027 or the termination of the loan agreement between HK Cablecom and the two nominee shareholders. | |||||||
On October 1, 2007, JYNT entered into an operating partnership through a joint venture with its partner Binzhou SOE, called Binzhou Broadcasting and Television Information Network Co., Ltd (“Binzhou Broadcasting). Binzhou SOE agreed to contribute all of the inventory and property, plant and equipment of Binzhou PRC along with all of their cable business operations in the PRC in exchange for a 51% equity interest in Binzhou Broadcasting. JYNT agreed to acquire the remaining 49% equity interest in Binzhou Broadcasting, as well as receive 11% of the economic benefits in Binzhou Broadcasting, through an exclusive service agreement, for total consideration of approximately $30 million. JYNT had only contributed $14 million to Binzhou Broadcasting and there was a further capital contribution of $16 million had been due but not yet settled. This exclusive service agreement provides marketing, strategic consulting and technical support and services for 11% of the net profits of Binzhou Broadcasting. | ||||||||
In addition, in accordance with the operating partnership and other agreements (“Framework Agreement”) between JYNT and Binzhou SOE, JYNT was given the ability to control certain aspects of the financing and management of Binzhou Broadcasting. JYNT has a veto right regarding the appointment of the general manager of Binzhou Broadcasting, the right to appoint the chief financial officer of Binzhou Broadcasting and an obligation to provide continued financial resources for investment and capital expenditures for the future expansion of the Binzhou Broadcasting’s operations. The result of these rights and obligations given to JYNT is that China Cablecom and JYNT have the ability to substantially influence the joint venture’s daily operations and financial affairs, appoint their senior executives and approve all matters requiring shareholder vote. | ||||||||
The contractual arrangements between JYNT and Binzhou Broadcasting have an initial term of 20 years. The parties may mutually seek to extend these agreements upon the expiration of the current term. China Cablecom is not aware of any legal impediments that may affect the renewal of these agreements under current PRC laws. In order for China Cablecom to continue to derive the economic benefits from its joint venture interest in the operation of Binzhou Broadcasting, it must renew these contractual agreements. | ||||||||
During the year ended December 31, 2011, Binzhou SOE charged a penalty of $754,979 (RMB5,000,000) against JYNT for the failure of settlement of further capital contribution of $16 million in accordance with the “Amendment Framework Agreement”. As a result, the economic benefit percentage of JYNT and Binzhou SOE in Binzhou Broadcasting was proportionally adjusted to reflect the actual fund provided and the deduction of penalty. The parties are currently negotiating the existence and continued operations of Binzhou Broadcasting and the extent of the continued obligations of JYNT. | ||||||||
In late 2010, the Government of Shandong Province made an announcement for the consolidation of its provincial cable assets in Shandong Province. In accordance with “Lu Ban Fa” (2010) No.18, the Province will create a new company namely “Shandong Broadcasting and Television Network Co., Ltd.” and required all the cable network companies in Shandong Province to transfer all its assets and revenue to Shandong Broadcasting and Television Network Co., Ltd. Under this government policy, Binzhou Broadcasting was also required to transfer all its assets and revenue to the new company with effective from September 16, 2011. The business operation of Binzhou Broadcasting was suspended effective September 16, 2011. All the contractual agreement and the exclusive services agreement made between JYNT, Binzhou SOE and Binzhou Broadcasting were effectively terminated accordingly. The Company believes a settlement can be reached with Binzhou SOE and/or Shandong Broadcasting and Television Network Co., Ltd. to receive a compensation for its investment. However, the settlement of such compensation was uncertain at the reporting date. Therefore, the management decided to make a full provision on its investment cost and loan advances, totalling $9,806,150. | ||||||||
On June 16, 2008, the Company announced the phase one acquisition of Hubei Chutian Video Communication Network Co., Ltd (“Hubei Chutian”) through a contractual and joint venture agreement similar to that used in the acquisition of Binzhou network. The Company, through JYNT, acquired a 49% equity interest in Hubei Chutian, as well as received 11% of the economic benefits in Hubei Chutian, through an exclusive technical services agreement, for total consideration of approximately $60.4 million. This exclusive technical services agreement provides marketing, strategic consulting and technical support and services for 11% of the net profits of Hubei Chutian. | ||||||||
On October 1, 2009, the Company, through JYNT, revised the Hubei Framework Agreement and the terms of technical service agreement with Hubei SOE. JYNT changed the service charge for providing marketing, strategic consulting and technical support and service from 11% to 6% of the net profits of Hubei Chutian. The total consideration was changed to approximately $55.6 million. | ||||||||
Besides, Hubei Chutian guaranteed to pay a 8% minimum rate of return on investment to JYNT if the return from service charge together with the share of 49% equity interest of Hubei Chutian was less than that minimum rate. The guarantee return was treated as management fee income received by JYNT. | ||||||||
In addition, in accordance with the operating partnership and other agreements (“Framework Agreement”) between JYNT and Hubei SOE, JYNT was given the ability to control certain aspects of the financing and management of Hubei Chutian. JYNT has a veto right regarding the appointment of the general manager of Hubei Chutian, the right to appoint the chief financial officer of Hubei Chutian and an obligation to provide continued financial resources for investment and capital expenditures for the future expansion of the Hubei Chutian’s operations. The result of these rights and obligations given to JYNT is that China Cablecom and JYNT have the ability to substantially influence the joint venture’s daily operations and financial affairs, appoint their senior executives and approve all matters requiring shareholder vote. | ||||||||
The term of this technical services agreement is 30 years. JYNT and Hubei Chutian may mutually seek to extend this agreement upon the expiry of the current term, China Cablecom is not aware of any legal impediments that may affect the renewal of this agreement under current PRC laws. In order for China Cablecom to continue to derive the economic benefits from its joint venture interest in the operation of Binzhou Broadcasting, it must renew these contractual agreements. | ||||||||
On October 20, 2011, JYNT was approached by the joint venture partner, Hubei SOE, regarding the purchase of the assets and equity interest in Hubei Chutian. The proposed offer was agreed and approved by the Board of Directors of the Company. The parties entered into a Termination Agreement on March 22, 2012 and an Equity Transfer Agreement on June 15, 2012, pursuant to which the parties agreed to consideration of $59,451,471 (RMB374,140,000) for the purchase by Hubei SOE of the assets and equity interest in Hubei Chutian to be received in six installments. The first installment of $7,945,084 (RMB50,000,000) was paid on March 22, 2012 as termination compensation; the second installment of $16,049,068 (RMB101,000,000) was paid on June 15, 2012; the third installment of $7,945,084 (RMB50,000,000) is due on the date when representative of JYNT and Hubei SOE go to the Administration for Industry and Commerce to submit the application for the change of registration of Hubei Chutian; the fourth installment of $7,945,084 (RMB50,000,000) is due prior to July 25, 2012; the fifth installment of $11,622,067 (RMB73,140,000) is due prior to August 25, 2012 and the final installment of $7,945,084 (RMB50,000,000) is due prior to September 25, 2012. In accordance with the terms of the agreement, JYNT agreed to transfer back its entire 49% equity interest in Hubei Chutian to the Hubei SOE and terminate the joint venture contractual agreement, technical services agreement and loan agreement with Hubei Chutian and Hubei SOE respectively. As a result, Hubei Chutian was no longer the operating joint venture of JYNT since then. Up to the date of this report, the Company had received totally $59,133,278 (RMB372,140,000) from Hubei SOE and the balance of $318,193 (RMB2,000,000) was kept as retention money as requested by Hubei SOE for providing information if required in future. The total gain on disposal of investment was $7,889,513 after deducting the total investment of $50,378,205 and accumulated translation adjustment of $1,183,753. | ||||||||
The consolidated financial statements, prepared in accordance with U.S. GAAP, include the financial statements of China Cablecom Holdings, Ltd., and its wholly owned or controlled subsidiaries and its consolidated variable interest entities as listed above. A consolidated variable interest entity is a variable interest entity of which the Company is the primary beneficiary under FASB ASC 810-10. All significant inter-company transactions and balances between the Company, its subsidiaries and VIEs are eliminated upon consolidation. The Company has included the results of operations of its subsidiaries and consolidated variable interest entities from the dates of acquisition. | ||||||||
The Company, its subsidiaries and VIEs referenced above are hereinafter collectively referred to as the “Company”. | ||||||||
As of December 31, 2012, the consolidated financial statements include the accounts of the Company and the following entities. | ||||||||
Place of | Attributable | Direct/ Indirect | ||||||
Name of Company | incorporation | equity interest | controlling interest | |||||
China Cablecom Ltd | British Virgin Islands | 100% | Direct | |||||
China Cablecom Company Limited | Hong Kong | 100% | Indirect | |||||
Heze Cablecom Network Technology Co., Ltd | PRC | 100% | Indirect | |||||
Jinan Youxiantong Network Technology Co., Ltd | PRC | * | Indirect | |||||
* The Company has indirect controlling interest of Jinan Youxiantong Network Technology Co., Ltd under the contractual arrangement. | ||||||||
VIEs are entities that lack one or more voting interest entity characteristics. The Company consolidates VIEs in which it is the primary beneficiary of its economic gains or losses. The FASB has issued FASB ASC 810-10, Consolidation of Variable Interest Entities, regarding certain entities in which equity investors do not have the characteristics of a controlling financial interest or do not have sufficient equity at risk for the entity to finance its activities without additional subordinated financial support from other parties. It separates entities into two groups: (1) those for which voting interests are used to determine consolidation and (2) those for which variable interests are used to determine consolidation. FASB ASC 810-10 clarifies how to identify a variable interest entity and how to determine when a business enterprise should include the assets, liabilities, non-controlling (“minority”) interests and results of activities of a variable interest entity in its consolidated financial statements. | ||||||||
In accordance with FASB ASC 810-10, China Cablecom has evaluated its economic relationships with JYNT and has determined that it is required to consolidate JYNT. Therefore JYNT is considered to be a VIE, as defined by FASB ASC 810-10, of which China Cablecom is the primary beneficiary. China Cablecom, as mentioned above, absorbs a majority of the economic risks and rewards of the VIE that is being consolidated in the accompanying financial statements. | ||||||||
The following table shows the Balance Sheets of JYNT as of December 31, 2012 and 2011: | ||||||||
December 31, 2012 | December 31, 2011 | |||||||
ASSETS | ||||||||
Current Assets: | ||||||||
Cash and cash equivalents | $ | 7,384,218 | $ | 101,616 | ||||
Prepaid expenses and advances | 3,715 | 3,705 | ||||||
Other receivables | 318,193 | - | ||||||
Amount due from HZNT | 24,484,194 | - | ||||||
Total Current Assets | 32,190,320 | 105,321 | ||||||
Property, plant & equipment, net | 3,083 | 5,296 | ||||||
Investment in operating joint venture | - | 50,378,205 | ||||||
Loan advances | 1,322,090 | - | ||||||
Total Assets | $ | 33,515,493 | $ | 50,488,822 | ||||
LIABILITIES | ||||||||
Current Liabilities: | ||||||||
Other current liabilities | $ | 2,355,778 | $ | 2,336,801 | ||||
Amount due to HZNT | - | 26,065,169 | ||||||
Amount due to China Cablecom | 39,428,900 | 39,275,207 | ||||||
Amount due to Hubei Chutian | - | 3,189,195 | ||||||
Total Liabilities | 41,784,678 | 70,866,372 | ||||||
OWNERS’ EQUITY | ||||||||
Registered Capital | 69,728 | 69,728 | ||||||
Additional paid-in capital | 79,812 | 79,812 | ||||||
Accumulated deficit | -8,104,714 | -15,990,313 | ||||||
Accumulated other comprehensive loss | -314,011 | -4,536,777 | ||||||
Total owners’ deficiency | -8,269,185 | -20,377,550 | ||||||
Total liabilities and owners’ deficiency | $ | 33,515,493 | $ | 50,488,822 | ||||
The following table shows the Statements of Operations of JYNT for the years ended December 31, 2012 and 2011: | ||||||||
For the year ended | For the year ended | |||||||
December 31, 2012 | December 31, 2011 | |||||||
Management fee income | $ | - | $ | 4,632,022 | ||||
Share of loss on operating joint ventures | - | -2,448,005 | ||||||
Gain on disposal of investment | 7,889,513 | - | ||||||
7,889,513 | 2,184,017 | |||||||
Operating expenses | ||||||||
General and administrative expenses | 86,883 | 52,673 | ||||||
Total operating expenses | 86,883 | 52,673 | ||||||
Profit / (loss) from operations | 7,802,630 | 2,131,344 | ||||||
Other income / (expenses) | ||||||||
Interest income | 83,372 | 549 | ||||||
Interest expense | -395 | -516,130 | ||||||
Forfeiture of investment fund | - | -754,979 | ||||||
Provision for impairment on investment | - | -9,806,150 | ||||||
Total other income / (expenses) | 82,977 | -11,076,710 | ||||||
Profit / (loss) before income taxes | 7,885,607 | -8,945,366 | ||||||
Income taxes expenses | -8 | -1,015,950 | ||||||
Net profit / (loss) | $ | 7,885,599 | $ | -9,961,316 | ||||
The following table shows the condensed cash flows of JYNT for the years ended December 31, 2012 and 2011: | ||||||||
For the year ended | For the year ended | |||||||
December 31, 2012 | December 31, 2011 | |||||||
Net cash used in operating activities | $ | -51,859,748 | $ | -46,772 | ||||
Net cash provided by / (used in) investing activities | 59,132,801 | -155 | ||||||
Net increase / (decrease) in cash | 7,273,053 | -46,927 | ||||||
Effect of exchange rate changes on cash | 9,549 | 6,077 | ||||||
Cash at the beginning of the period | 101,616 | 142,466 | ||||||
Cash at the end of the period | $ | 7,384,218 | $ | 101,616 | ||||
Investment in operating joint ventures | ||||||||
Equity method investments are recorded at original cost and adjusted to recognize the Company's proportionate share of the investee's net income or losses and additional contributions made and distributions received. The Company recognizes a loss if it is determined that other than temporary decline in the value of the investment exists. | ||||||||
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended | |||
Dec. 31, 2012 | ||||
Accounting Policies [Abstract] | ' | |||
Significant Accounting Policies [Text Block] | ' | |||
2. Summary of Significant Accounting Policies | ||||
Cash and Cash Equivalents | ||||
Cash and cash equivalents include all cash and deposits in banks. As of December 31, 2012, most of total cash and cash equivalents were denominated in Renminbi (“RMB”) with its deposits placed with banks in the PRC. This cash is not freely convertible into foreign currencies and the remittance of these funds out of the PRC is subject to exchange control restrictions imposed by the PRC government. The remaining balance of cash and cash equivalents were denominated in US dollars and deposits in banks with reputable financial institutions in the United States. | ||||
Deferred Financing Costs | ||||
Deferred financing costs related to the Company’s Senior Secured Note are being amortized over the life of the notes payable of 6 years. Upon the fully repayment of Senior Secured Note, all deferred financing costs have been expensed this year. | ||||
Amortization for the years ended December 31, 2012, 2011 and 2010 was $1,300,671, $343,272 and $343,272, respectively. Indirect costs of financing activities are expensed as incurred. | ||||
Valuation of Long-lived Assets | ||||
The Company periodically evaluates the carrying value of long-lived assets to be held and used when events and circumstances warrant such a review. The carrying value of a long-lived asset is considered impaired when the anticipated undiscounted cash flows from such asset is less than its carrying value. In that event, an impairment loss is recognized based on the amount by which the carrying value exceeds the fair value of the long-lived asset. Fair value is determined primarily using the anticipated cash flows discounted at a rate commensurate with the risk involved. Losses on long-lived assets to be disposed of are determined in a similar manner, except that fair values are reduced for the cost to dispose. | ||||
Fair value of financial instruments | ||||
FASB ASC Topic 820, Fair Value Measurement and Disclosures, defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. This topic also establishes a fair value hierarchy which requires classification based on observable and unobservable inputs when measuring fair value. There are three levels of inputs that may be used to measure fair value: | ||||
Level 1 | - | Quoted prices in active markets for identical assets or liabilities. | ||
Level 2 | - | Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. | ||
Level 3 | - | Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. | ||
The carrying amounts of financial assets and liabilities, such as cash, accounts receivable, prepaid expenses and other current assets, accounts payable, and other current liabilities, approximate their fair values because of the short maturity of these instruments and market rates of interest. | ||||
Property, Plant and Equipment | ||||
Plant and equipment are stated at cost less accumulated depreciation. Additions and improvements to property and equipment accounts are recorded at cost. Maintenance, repairs, and minor renewals are charged directly to expense as incurred. Major additions and betterments to property and equipment accounts are capitalized. Depreciation is computed using the straight-line method over the estimated useful lives less residual value. | ||||
Depreciation of property, plant and equipment is computed using the straight-line method over the following estimated useful lives of the assets: - | ||||
Years | ||||
Furniture, fixtures and office equipments | 5 | |||
Motor vehicles | 10-Apr | |||
Building improvements | 20-40 | |||
Use of Estimates | ||||
The preparation of the Company’s financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect 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. | ||||
The financial statements include some amounts that are based on management’s best estimates and judgments. The most significant estimates relate to useful lives for depreciation and amortization, deferred tax provisions and valuation allowances, purchase price allocations, contingencies. These estimates may be adjusted as more current information becomes available to the Company and any adjustment could be significant to the accompanying financial statements. | ||||
The determination of the primary beneficiary of a VIE based on whether the Company has the power to direct the activities that most significant impact the economic performance of the VIE and the obligation to absorb losses or the right to receive benefits of the VIE. It require the Company to make an ongoing assessment of the primary beneficiary of a VIE. The Company may require to deconsolidate certain VIE when there is information indicate that the Company lost the primary beneficiary to a VIE. | ||||
Comprehensive Income | ||||
The Company has adopted FASB ASC 220, “Comprehensive Income”. This statement establishes rules for the reporting of comprehensive income and its components. Comprehensive income consists of net income and foreign currency translation adjustments and is presented in the Consolidated Statements of Income and the Consolidated Statements of Equity. | ||||
Income Taxes | ||||
The Company accounts for income taxes under FASB ASC Topic 740 "Income Taxes". Deferred income tax assets and liabilities are determined based upon differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be effective when the differences are expected to reverse. | ||||
Deferred tax assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the statements of income in the period that includes the enactment date. | ||||
FASB ASC Topic 740 prescribes a more-likely-than-not threshold for financial statement recognition and measurement of a tax position taken in the tax return. This interpretation also provides guidance on de-recognition of income tax assets and liabilities, classification of current and deferred income tax assets and liabilities, accounting for interest and penalties associated with tax positions, accounting for income taxes in interim periods and income tax disclosures. | ||||
Foreign Currency Translation | ||||
China Cablecom Holdings, Ltd.’s functional currency is the US dollar. The Company’s subsidiaries and VIEs determine their functional currencies based on the criteria of FASB ASC 830 Foreign Currency Translation and have determined their functional currency to be their respective local currency. The Company uses the average exchange rate for the period and the exchange rate at the balance sheet date to translate its operating results and financial position, respectively. Any translation gains (losses) are recorded in accumulated other comprehensive income (loss) as a component of shareholders’ equity. Transactions denominated in foreign currencies are translated into the functional currency at the exchange rates prevailing on the transaction dates. Assets and liabilities denominated in foreign currencies are translated into the functional currency at the exchange rates prevailing at the balance sheet date. Exchange gains and losses are included in the consolidated statements of income. | ||||
Translation of amounts from RMB into United States dollars (“US$”) has been made at the following exchange rates for the respective periods: | ||||
31-Dec-12 | ||||
Balance sheet | RMB6.2855 to US$1.00 | |||
Statement of operations and comprehensive loss | RMB6.2932 to US$1.00 | |||
31-Dec-11 | ||||
Balance sheet | RMB6.3009 to US$1.00 | |||
Statement of operations and comprehensive loss | RMB6.4618 to US$1.00 | |||
31-Dec-10 | ||||
Balance sheet | RMB6.6227 to US$1.00 | |||
Statement of operations and comprehensive loss | RMB6.7256 to US$1.00 | |||
Basic Income/Loss Per Ordinary Share | ||||
The computation of income/loss per share is based on the weighted average number of shares outstanding during the period presented in accordance with FASB ASC 260, “Earnings Per Share”. At December 31, 2012, 2011 and 2010, due to net losses the Company’s share equivalents were anti-dilutive and excluded in the loss per share computations. | ||||
Revenue recognition | ||||
The principal activity of the Company was previously the joint venture operation of two cable television networks in China: Binzhou Broadcasting and Television Information Network Co., Ltd and Hubei Chutian Video Communication Network Co., Ltd. | ||||
The Company recognizes revenue based on the following: | ||||
Management fee income – The management fee income was received from Hubei Chutian in accordance with the Exclusive Services Agreement signed between JYNT and Hubei Chutian. JYNT was the sole service provider of Hubei Chutian and provides the services of marketing, strategic consulting and technical support. The Company recognizes the management fee income when the right to receive payment is established in accordance with the services agreement. | ||||
Stock-Based Compensation | ||||
The Company awards stock options and other equity-based instruments to its employees and directors (collectively “share-based payments”). Compensation cost related to such awards is measured based on the fair value of the instrument on the grant date and is recognized on a straight-line basis over the requisite service period, which generally equals the vesting period. All of the Company’s stock-based compensation is based on grants of equity instruments and no liability awards have been granted. | ||||
Off-balance Sheet Arrangements | ||||
The Company does not have any off-balance sheet arrangements as of December 31, 2012, 2011 and 2010. | ||||
Recent_Changes_in_Accounting_S
Recent Changes in Accounting Standards | 12 Months Ended |
Dec. 31, 2012 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | ' |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | ' |
3. Recent Changes in Accounting Standards | |
There is no recently issued accounting pronouncements adopted by the Company. Management does not believe that any recently issued, but not effective, accounting standards, if currently adopted, would have a material effect on the accompanying financial statements. | |
Stock_Based_Compensation
Stock Based Compensation | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2012 | ||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' | |||||||||||||||||||
4. Stock Based Compensation | ||||||||||||||||||||
In April 2008, the Company adopted the China Cablecom Holdings, Ltd. 2007 Omnibus Securities and Incentive Plan (the “Plan”), which provides for the grant of up to 3,333,333 shares option for the benefit of its directors, officers and employees. The Company granted 1,350,000 share options and 1,460,000 share options on October 9, 2009 and December 20, 2009, respectively, to its directors, officers and employees under the plan. These shares options are exercisable at $2.34 and $1.83 per share, respectively, and may be exercised by the optionee no later than the tenth anniversary of the date of option agreement. As of December 31, 2012, 2,810,000 options have been issued under the plan in which 523,333 options remain available to be issued and 160,000 options was cancelled. | ||||||||||||||||||||
The Company accounts for its stock option awards pursuant to the provisions of FASB ASC 718, “Stock Compensation”. The fair value of each option award is estimated on the date of grant using the Black-Scholes option valuation model. The Company recognizes the fair value of each option as compensation expense ratably using the straight-line attribution method over the service period, which is generally the vesting period. | ||||||||||||||||||||
The Black-Scholes model incorporates the following assumptions: | ||||||||||||||||||||
⋅ | Expected volatility - the Company estimates the volatility of common stock at the date of grant using historical volatility. | |||||||||||||||||||
⋅ | Expected term - the Company estimates the expected term of options granted based on a combination of vesting schedules, term of the option and historical experience. | |||||||||||||||||||
⋅ | Risk-free interest rate - the Company estimates the risk-free interest rate using the U.S. Treasury yield curve for periods equal to the expected term of the options in effect at the time of grant. | |||||||||||||||||||
⋅ | Dividends - the Company uses an expected dividend yield of zero. The Company intends to retain any earnings to fund future operations and, therefore, does not anticipate paying any cash dividends in the foreseeable future. | |||||||||||||||||||
The fair value of the total options granted in the year measured as at the date of grant on October 9, 2009 was $2,727,755 and December 20, 2009 was $2,260,874. The following table outlines the variables used to derive the fair value using in the Black-Scholes option-pricing model: | ||||||||||||||||||||
Risk free interest rate | 1.3177% - 1.4864% | |||||||||||||||||||
Volatility | 163.46% - 170.57% | |||||||||||||||||||
Dividend yield | - | |||||||||||||||||||
Expected option life | 10 years | |||||||||||||||||||
Movements in the number of share options outstanding and their related weighted average exercise prices are as follows: | ||||||||||||||||||||
2012 | 2011 | 2010 | ||||||||||||||||||
Shares | Weighted | Shares | Weighted | Shares | Weighted | |||||||||||||||
average | average | average | ||||||||||||||||||
exercise | exercise | exercise | ||||||||||||||||||
price | price | price | ||||||||||||||||||
Options outstanding at beginning of year | 2,650,000 | $ | 2.07 | 2,810,000 | $ | 2.07 | 2,810,000 | $ | 2.07 | |||||||||||
Granted | - | - | - | - | - | - | ||||||||||||||
Cancelled | - | - | -160,000 | - | - | - | ||||||||||||||
Options outstanding at end of year | 2,650,000 | $ | 2.07 | 2,650,000 | $ | 2.07 | 2,810,000 | $ | 2.07 | |||||||||||
Options exercisable at end of year | 2,650,000 | 2,650,000 | 2,810,000 | |||||||||||||||||
Options available for issuance | 523,333 | 523,333 | 523,333 | |||||||||||||||||
During the years ended December 31, 2012, 2011 and 2010, the Company recorded stock based compensation of $1,428,847, $1,662,876 and $1,679,368, respectively, in connection with the issuance of stock options. | ||||||||||||||||||||
As of December 31, 2012, the Company did not have any unrecognized compensation expense related to options granted which will be recognized. | ||||||||||||||||||||
Cash_and_cash_equivalents
Cash and cash equivalents | 12 Months Ended |
Dec. 31, 2012 | |
Cash and Cash Equivalents [Abstract] | ' |
Cash and Cash Equivalents Disclosure [Text Block] | ' |
5. Cash and cash equivalents | |
Financial instruments that potentially subject the Company to significant concentrations of credit risk consist of cash and cash equivalents and pledged deposits. As of December 31, 2012 and 2011, majority of the Company’s cash and cash equivalents were held by major banks located in the PRC, which management believes are high credit quality financial institutions. | |
Prepaid_Expenses_and_Advances
Prepaid Expenses and Advances | 12 Months Ended | |||||||
Dec. 31, 2012 | ||||||||
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | ' | |||||||
Deferred Costs Capitalized Prepaid Expenses And Other Assets Disclosure [Text Block] | ' | |||||||
6. Prepaid Expenses and Advances | ||||||||
Prepaid expenses and other receivables consist of the following: | ||||||||
December 31, 2012 | December 31, 2011 | |||||||
Advanced payments | $ | 3,715 | $ | 60,356 | ||||
Total | $ | 3,715 | $ | 60,356 | ||||
Property_Plant_and_Equipment_N
Property, Plant and Equipment, Net | 12 Months Ended | |||||||
Dec. 31, 2012 | ||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||
Property, Plant and Equipment Disclosure [Text Block] | ' | |||||||
7. Property, Plant and Equipment, Net | ||||||||
Property, plant and equipment, net consist of the following: | ||||||||
December 31, 2012 | December 31, 2011 | |||||||
At cost: | ||||||||
Furniture, fixtures and office equipment | $ | 57,371 | $ | 56,755 | ||||
Motor vehicles | 58,198 | 58,055 | ||||||
Building improvements | 20,619 | 20,568 | ||||||
Total | 136,188 | 135,378 | ||||||
Less: accumulated depreciation | -132,406 | -113,652 | ||||||
Net book value | $ | 3,782 | $ | 21,726 | ||||
There were no impairment provisions made at December 31, 2012, 2011 and 2010. Depreciation expense for the years ended December 31, 2012, 2011 and 2010 were $18,452, $120,556 and $68,128, respectively. | ||||||||
Investment_in_operating_joint_
Investment in operating joint venture | 12 Months Ended | |||||||
Dec. 31, 2012 | ||||||||
Equity Method Investments and Joint Ventures [Abstract] | ' | |||||||
Equity Method Investments and Joint Ventures Disclosure [Text Block] | ' | |||||||
8. Investment in operating joint venture | ||||||||
December 31, 2012 | December 31, 2011 | |||||||
Unlisted equity investment, at cost | $ | 8,138,675 | $ | 8,138,675 | ||||
Share of loss and other comprehensive | ||||||||
loss, net of dividend received | -12,946,118 | -12,946,118 | ||||||
Loan advances | 65,746,777 | 65,746,777 | ||||||
$ | 60,939,334 | $ | 60,939,334 | |||||
Less: Forfeiture of investment fund | -754,979 | -754,979 | ||||||
Provision for impairment on investment | -9,806,150 | -9,806,150 | ||||||
Disposal of investment | -50,378,205 | - | ||||||
$ | - | $ | 50,378,205 | |||||
Binzhou Broadcasting and Television Information Network Co., Ltd | ||||||||
On October 1, 2007, the Company through JYNT entered into a joint venture partnership with its partner Binzhou SOE and formed Binzhou Broadcasting and Television Information Network Co., Ltd. (“Binzhou Broadcasting”) and agreed to acquire 49% equity interest in Binzhou Broadcasting. The principal activity of Binzhou Broadcasting is provision of cable network services. Up to the reporting date, JYNT had only contributed $14 million to Binzhou Broadcasting and there was a further capital contribution of $16 million had been due but not yet settled. | ||||||||
During the year ended December 31, 2011, Binzhou SOE charged a penalty of $754,979 (RMB5,000,000) against JYNT for the failure of settlement of further capital contribution of $16 million in accordance with the “Amendment Framework Agreement”. As a result, the economic benefit percentage of JYNT and Binzhou SOE in Binzhou Broadcasting will be proportionally adjusted to reflect the actual fund provided and the deduction of penalty. Meanwhile, both parties shall negotiate the existence and continued operation of the Binzhou Broadcasting triggered such failure of the obligation of JYNT. | ||||||||
In late 2010, the Government of Shandong Province made an announcement for the consolidation of its provincial cable assets in Shandong Province. In accordance with “Lu Ban Fa” (2010) No.18, the Province will create a new company namely “Shandong Broadcasting and Television Network Co., Ltd.” and required all the cable network companies in Shandong Province to transfer all its assets and revenue to Shandong Broadcasting and Television Network Co., Ltd. Under this government policy, Binzhou Broadcasting is also required to transfer all its assets and revenue to the new company with effective from September 16, 2011. The business operation of Binzhou Broadcasting was suspended since then. All the contractual agreement and the exclusive services agreement made between JYNT, Binzhou SOE and Binzhou Broadcasting were effectively terminated accordingly. The Company is still in the process of negotiation on the compensation of its investments in Binzhou Broadcasting with its joint venture partner, Binzhou SOE. However, the business operation has been transferred to Shandong Broadcasting and Television Network Co., Ltd. since September 16, 2011 although Binzhou Broadcasting still holds all the operating assets. | ||||||||
The Company believes a settlement can be reached with Binzhou SOE and/or Shandong Broadcasting and Television Network Co., Ltd. to receive a compensation for its investment which will be more than its carrying value. However, the settlement of such compensation was uncertain at the reporting date. Therefore, the management decided to make a full provision on its investment cost and loan advances, totalling $9,806,150. | ||||||||
Hubei Chutian Video Communication Network Co., Ltd | ||||||||
On June 16, 2008, the Company through JYNT entered into a joint venture partnership with its partner Hubei SOE and formed Hubei Chutian Video Communication Network Co., Ltd. (‘Hubei Chutian”) and agreed to acquire 49% equity interest in Hubei Chutian. | ||||||||
The principal activity of Hubei Chutian is provision of cable network services. The Company accounts for the percentage of investment, under the equity method of accounting, based on actual equity contribution made by JYNT at each of the reporting date. | ||||||||
JYNT and Hubei SOE entered into a Termination Agreement on March 22, 2012 and an Equity Transfer Agreement on June 15, 2012, pursuant to which the parties agreed to consideration of $59,451,471 (RMB374,140,000) for the purchase by Hubei SOE of the assets and equity interest in Hubei Chutian. JYNT agreed to transfer back all 49% equity interest of Hubei Chutian to Hubei SOE and to terminate the joint venture contractual agreement, technical services agreement and loan agreement with Hubei Chutian and Hubei SOE respectively. Hubei Chutian was no longer the operating joint venture of JYNT. The total gain on disposal of investment was $7,889,513 after deducting the total investment of $50,378,205 and accumulated translation adjustment of $1,183,753. | ||||||||
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||
Dec. 31, 2012 | |||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||
Income Tax Disclosure [Text Block] | ' | ||||||||||
9. Income Taxes | |||||||||||
The entities within the Company file separate tax returns in the respective tax jurisdictions that they operate. | |||||||||||
British Virgin Islands | |||||||||||
The Company, being incorporated in the British Virgin Islands as an exempted company, is not subject to any income tax in the British Virgin Islands. | |||||||||||
Hong Kong | |||||||||||
China Cablecom Company Limited is generally subject to Hong Kong income tax on its taxable income derived from trade or businesses carried out in Hong Kong at 16.5% for the years ended December 31, 2012, 2011 and 2010. However, as the Company has not generated any revenue or income, no provision for Hong Kong income tax has been made. | |||||||||||
The PRC | |||||||||||
The VIEs being established in the PRC was subject to the PRC Enterprise Income Tax (“EIT”) at 33% prior to January 1, 2008. In March 2007, the PRC government enacted the PRC Enterprise Income Tax Law, or the New EIT Law, and promulgated related regulation, Implementing Regulations for the PRC Enterprise Income Tax Law, which became effective from January 1, 2008. The PRC Enterprise Income Tax Law, among other things, imposes a unified income tax rate of 25% for both domestic and foreign invested enterprises registered in the PRC. | |||||||||||
The amount of income tax charged to the consolidated statement of comprehensive income represents: | |||||||||||
For the year ended | For the year ended | For the year ended | |||||||||
December 31, 2012 | December 31, 2011 | December 31, 2010 | |||||||||
PRC | |||||||||||
- current income tax | $ | 11 | $ | 1,015,951 | $ | 975,712 | |||||
- deferred income tax | - | - | - | ||||||||
Total | $ | 11 | $ | 1,015,951 | $ | 975,712 | |||||
A reconciliation of the expected income tax expense to the actual income tax expense is as follows: | |||||||||||
For the year ended | For the year ended | For the year ended | |||||||||
December 31, 2012 | December 31, 2011 | December 31, 2010 | |||||||||
Loss before income taxes | $ | -5,988,833 | $ | -19,720,981 | $ | -13,431,975 | |||||
Tax calculated at the domestic tax rate of 25% | -1,497,208 | -4,930,245 | -3,357,994 | ||||||||
Tax effect of expenses not deductible for tax purposes | 1,641,239 | 5,334,201 | 2,271,844 | ||||||||
Tax effect of share of profit and loss of operating joint ventures | - | 612,001 | 2,061,968 | ||||||||
Tax effect of non-taxable income | -144,020 | -6 | -106 | ||||||||
Income tax expense | $ | 11 | $ | 1,015,951 | $ | 975,712 | |||||
As of December 31, 2012, 2011 and 2010, the Company did not have any significant temporary differences and carry forwards that may result in deferred tax. The Company has analyzed the tax positions taken or expected to be taken in its tax filings and has concluded it has no material liability related to uncertain tax positions or unrecognized tax benefits. The Company classifies interest and/or penalties related to income tax matters in income tax expense. For the years ended December 31, 2012, 2011 and 2010, the Company has not recognized any amount of interest and penalties related to uncertain tax positions. The Company does not anticipate any significant increases or decreases to its liability for unrecognized tax benefits within the next 12 months. | |||||||||||
The New EIT Law also imposes a withholding tax of10% unless reduced by a tax treaty, for dividends distributed by a PRC-resident enterprise to its immediate holding company outside the PRC for earnings accumulated beginning on January 1, 2008 and undistributed earnings generated prior to January 1, 2008 are exempt from such withholding tax. The Company has not provided for income taxes on accumulated earnings of its PRC subsidiary as of December 31, 2012, 2011 and 2010 because these earnings are intended to be reinvested indefinitely in the overseas jurisdictions. It is not practicable to estimate the amount of additional taxes that might be payable on such undistributed earnings. | |||||||||||
According to the PRC Tax Administration and Collection Law, the statute of limitations is three years if the underpayment of taxes is due to computational or other errors made by the taxpayer or the withholding agent. The statute of limitations extends to five years under special circumstances. In the case of transfer pricing issues, the statute of limitations is ten years. There is no statute of limitations in the case of tax evasion. | |||||||||||
Other_Current_Liabilities
Other Current Liabilities | 12 Months Ended | |||||||
Dec. 31, 2012 | ||||||||
Other Liabilities Disclosure [Abstract] | ' | |||||||
Other Liabilities Disclosure [Text Block] | ' | |||||||
10. Other Current Liabilities | ||||||||
Other current liabilities consist of the following: | ||||||||
December 31, 2012 | December 31, 2011 | |||||||
Other payables | $ | 400,279 | $ | 403,598 | ||||
Accrued expenses | 178,587 | 335,511 | ||||||
Accrued salaries and welfare | 291,291 | 333,974 | ||||||
Provision for taxation - PRC | 2,338,539 | 2,332,823 | ||||||
Accrued interest | 2,144,626 | 2,804,169 | ||||||
Total | $ | 5,353,322 | $ | 6,210,075 | ||||
Promissory_note
Promissory note | 12 Months Ended |
Dec. 31, 2012 | |
Debt Disclosure [Abstract] | ' |
Promissory note [Text Block] | ' |
11. Promissory note | |
In September 2007, China Cablecom Ltd. issued an aggregate of $19.99 million in promissory notes and 766,680 shares of Class A preferred stock to 10 investors in exchange for proceeds of approximately $20 million (the “Bridge Financing”). Each share of Class A preferred stock was converted into one share of the Company’s ordinary shares in April 2008. The proceeds from the Bridge Financing were used to fund the acquisition price of Binzhou Broadcasting (Note 4) and for working capital purposes. The promissory notes bear interest at a stated interest rate of 10% and are collateralized by a pledge of approximately 650,000 ordinary shares of the Company, held by the Company’s Chairman. The Company allocated the proceeds based on the relative fair value of the promissory notes and the Class A preferred stock, the resulting discount on the promissory notes is being amortized using the effective interest method to interest expense over the term of the promissory notes. For the year ended December 31, 2008 approximately $2,383,000 was amortized and charged to interest expense. In addition, the interest expense on these promissory notes approximated $1,359,000 for the year ended December 31, 2008, resulting in total interest expense of approximately $3,742,000. Upon the merger between China Cablecom Ltd. and Jaguar, 50% of the promissory notes plus accrued interest was repaid in April 2008. The remaining balance of the promissory notes plus accrued interest was due in April 2009. | |
Due to the default in payment of both principal and interest of promissory notes in April 2009, the Company negotiated with the promissory note holders and completed the debt restructure in October 2009. In connection with the debt restructure, the Company entered into a waiver agreement with the consent from all the promissory note holders on October 9, 2009. The Company issued $5.5 million in Unsecured Notes due October 8, 2015 bearing a fixed interest rate of 5% per annum along with 15,397,204 shares of Series A Convertible Preferred Shares to the note holders in settlement of approximately $11 million in current debt and accrued interest obligations. Each Series A Convertible Preferred Share may be converted, at the option of the shareholder, into one ordinary share. | |
The debt restructure reduced the overall principal amount of its long-term debt obligations and eliminated cash interest obligations on the new debt securities issued. Under the debt restructure, the difference between carrying amount of the notes payable and the fair value of the equity instruments issued together with the new Notes issued are accounted for as debt extinguishments resulting in a loss of $5,658,140, which was recognized in the Statement of Operations for the year ended December 31, 2009. | |
The debt restructure strengthens the Company's balance sheet by reducing the overall principal amount of its long-term debt obligations and eliminating cash interest obligations on the new debt securities issued. | |
On April 1, 2011, China Cablecom Ltd. issued $27,500 promissory notes bearing interest rate of 8% per annum to promissory note holder. The note was repayable on demand. In the event of default, interest on amounts past due shall be paid at an interest rate of 12% per annum. For the year ended December 31, 2012 and 2011, $51,084 and $1,681 were charged to interest expense. The Company had fully repaid the promissory note together with accrued interest in September 2013. | |
On July 15, 2011, China Cablecom Ltd. issued $389,651 promissory notes due on November 15, 2011 bearing interest rate of 8% per annum to promissory note holder. For the year ended December 31, 2011, $16,876 was charged to interest expense. However, the Company was default in payment of the promissory note together with the interest on due date. In the event of default, interest on amounts past due shall be paid at an interest rate of 12% per annum. The occurrence of the default shall, at the option of the note holders, make all sum of principal and accrued interest immediately due and payable upon demand. The Company had fully repaid the promissory note together with accrued interest in September 2013. | |
Convertible_notes
Convertible notes | 12 Months Ended |
Dec. 31, 2012 | |
Debt Disclosure [Abstract] | ' |
Convertible notes [Text Block] | ' |
12. Convertible notes | |
On May 9, 2008, China Cablecom Holdings, Ltd. issued convertible notes with a principal (“face”) value of $43,175,000, along with 1,524,994 shares of ordinary shares (labeled “incentive shares” in the agreement) to several investors. The gross proceeds of this transaction were $30,000,000 (“purchase price”), consisting of $25,793,283 cash and $4,206,717 from the cancellation of the principal amount and accrued interest of promissory notes issued by China Cablecom Ltd. in September 2007. | |
Interest on the convertible notes is due at maturity at 9.99% per annum. The interest through maturity has been prepaid and is equal to the difference between the face value of the convertible notes and the gross proceeds. In substance, the note is a zero coupon note (except for the shares to be issued as described in the next paragraph) with a maturity value of $43,175,000 issued for $30,000,000 with a $13,175,000 discount. The convertible notes mature on May 9, 2011 at which point the face value of the notes are due. The notes are convertible, at the holders’ option, into the Company’s ordinary shares, which have a par value of $0.0005 per share, at a per share conversion price of $9.5. | |
If there is a principal amount outstanding on the tenth business day following the first anniversary of the closing date of the convertible notes, the Company will issue to the holders of the convertible notes additional incentive shares of up to 124,994 shares, in proportion to the initial principal amount. An additional pro-rata portion of up to 299,997 incentive shares will be issued by the Company to the holders if a principal amount remains outstanding on the tenth business day following the second anniversary of the closing date. | |
Through May 9, 2009, the Company has the right, subject to certain conditions, to redeem the convertible notes for 78.75% of the outstanding principal amount being redeemed. After May 9, 2009, the Company can redeem the convertible notes for 100% of the purchase price being redeemed and imputed interest on the purchase price being redeemed. | |
In total, $9,683,712 of the $30,000,000 gross proceeds was allocated to the incentive shares and added to the discount on the convertible notes that had been created by the prepaid interest, resulting in $20,316,288 as the net balance originally recorded for the convertible notes. | |
The convertible feature creates an intrinsic value as a result of the fair value of the ordinary shares from the assumed conversion of the notes being greater than the allocated value of the convertible notes as of the issuance date. Such feature is normally characterized as a “beneficial conversion feature” (“BCF”). Pursuant to Emerging Issues Task Force (“EITF”) Issue No. 98-5, “Accounting for Convertible Securities with Beneficial Conversion Features or Contingently Adjustable Conversion Ratio” and EITF No. 00-27, “Application of EITF Issue No. 98-5 to Certain Convertible Instruments”, the intrinsic value of the embedded BCF of $8,542,791 is recorded as additional debt discount from the face amount of the convertible notes on May 9, 2008, increasing the total discount on the debt to $31,401,503 for a net $11,773,497 payable recorded for the convertible notes. In the period May 9, 2008 to December 31, 2008, $4,910,547 of the discount was amortized to interest expense on the effective interest method, resulting in a remaining discount of $26,490,956 and net convertible notes principal of $16,684,044. The amortization is calculated on the assumption that the additional shares will be issued at the May 9, 2008 per share value. Amortization will be adjusted prospectively if the actual values on the issuance dates differ from the May 9, 2008 per share value and the actual number of shares issue is different. | |
As part of the transaction, cash of 7% of the cash portion of the purchase price was paid as broker’s fee and $150,000 paid as due diligence fee. In addition, on the first and second anniversaries of the closing date, up to $150,000 and $200,000 will be paid as an additional due diligence fee and will be recorded as deferred financing cost when the fee is due. The amount of the due diligence fee payable in connection with the first and second anniversaries of the closing date, will be paid in the same proportion as the amount of principal amount outstanding on each such anniversary date compared to the original principal amount. | |
Issuance costs totalled $1,868,960, of which $603,282 was allocated to the incentive shares and recorded as a reduction of paid-in capital. $1,265,678 was recorded as deferred financing costs and is being amortized over the three-year term of the convertible notes using the effective interest method. The amortization is calculated on the assumption that the additional due diligence fees will be paid on the first and second anniversaries. In the period May 9, 2008 to December 31, 2008, amortization expense was $232,663, resulting in unamortized deferred financing costs of $1,033,015 as of December 31, 2008. | |
Due to the default in payment of both principal and interest of promissory notes in April 2009, the Company negotiated with the convertible note holders and completed the debt restructure in October 2009. The Company also entered into a waiver agreement with the consent from all the convertible note holders. The Company issued $18 million Secured Notes due October 8, 2016 bearing fixed interest rate of 5% per annum along with 50,402,082 shares of Series A Convertible Preferred Shares to the note holders in settlement of approximately $23 million in current debt obligations. Each Series A Convertible Preferred Share may be converted, at the option of the shareholder, into one ordinary share. | |
The debt restructure reduced the overall principal amount of its long-term debt obligations and eliminated cash interest obligations on the new debt securities issued. Under the debt restructure, the difference between carrying amount of convertible notes and the fair value of the equity instruments issued together with the new Notes issued are accounted for as debt extinguishments resulting in a loss of $34,005,326, which was recognized in the Statement of Operations for the year ended December 31, 2009. | |
The debt restructure strengthened the Company's balance sheet by reducing the overall principal amount of its long-term debt obligations and eliminating cash interest obligations on the new debt securities issued. | |
Unsecured_notes
Unsecured notes | 12 Months Ended | |||||||
Dec. 31, 2012 | ||||||||
Debt Disclosure [Abstract] | ' | |||||||
Unsecured Debt Disclosure Text Block [Text Block] | ' | |||||||
13. Unsecured notes | ||||||||
December 31, 2012 | December 31, 2011 | |||||||
Unsecured note issued | $ | 4,218,128 | $ | 4,218,128 | ||||
Less: Repayment | -4,218,128 | - | ||||||
- | 4,218,128 | |||||||
Less: Current portion | - | -4,218,128 | ||||||
Long-term portion | $ | - | $ | - | ||||
On October 9, 2009, under the debt restructure, the Company issued $5.5 million Unsecured Notes due October 8, 2015 bearing fixed interest rate of 5% per annum and 15,397,204 Series A Convertible Preferred Shares to promissory note holders. Each Series A Convertible Preferred Shares can be convertible, at the option of the holder, into one ordinary share. With the effective of the reverse share split of the ordinary share at a rate of 1 for 3 on March 1, 2010, three Convertible Preferred Shares can be convertible into one ordinary share. Such change was adopted retrospectively. The repayment was scheduled in 8 installments to be paid every6 months starting from October 15, 2012. | ||||||||
Until fourteen months after the issue date, principal on the new notes is subject to the cancellation in the event that the Company's ordinary shares close at a daily volume weighted average price greater than $0.85 for 30 consecutive days with daily dollar value of the trading volume of $500,000 or more. All of the shares issuable upon conversion of the Series A Preferred Shares could have been sold by the note holder according to the terms of the notes and permitted to sell during such 30 consecutive trading days, then the principal amount of the note will be deemed satisfied and paid in full. Interest accrued on this note shall be payable on the immediately following interest due date. The principal on the new notes is also subject to the reduction in the event that the note holders convert the Series A Convertible Preferred Shares into ordinary shares within 14 months after the issued date. | ||||||||
During the year ended December 31, 2012, the Company had fully repaid the principal of unsecured note. As of December 31, 2012, there was interest expense $434,701 was included in accrued expenses. | ||||||||
Secured_notes
Secured notes | 12 Months Ended | |||||||
Dec. 31, 2012 | ||||||||
Debt Disclosure [Abstract] | ' | |||||||
Secured Debt Disclosure [Text Block] | ' | |||||||
14. Secured notes | ||||||||
Secured notes, net of discount consists of the following: | ||||||||
December 31, 2012 | December 31, 2011 | |||||||
Secured note issued | $ | 16,159,035 | $ | 16,159,035 | ||||
Less: Repayment | -16,159,035 | - | ||||||
- | 16,159,035 | |||||||
Less: Current portion | - | -16,159,035 | ||||||
Long-term portion | $ | - | $ | - | ||||
On October 9, 2009, under the debt restructure, the Company issued $18 million Secured Notes due October 8, 2016 bearing fixed interest rate of 5% per annum and 50,402,082 Series A Convertible Preferred Shares to convertible note holders. Each Series A Convertible Preferred Shares may be converted, at the option of the holder, into one ordinary share. With the effective of the reverse share split of the ordinary share at a rate of 1 for 3 on March 1, 2010, three Convertible Preferred Shares can be convertible into one ordinary share. Such change was adopted retrospectively. The repayment was scheduled in 7 installments to be paid every 6 months starting from October 15, 2012. | ||||||||
Until fourteen months after the issue date, principal on the new notes is subject to the cancellation in the event that the Company's ordinary shares close at a daily volume weighted average price greater than $0.85 for 30 consecutive days with daily dollar value of the trading volume of $500,000 or more. All of the shares issuable upon conversion of the Series A Preferred Shares could have been sold by the note holder according to the terms of the notes and permitted to sell during such 30 consecutive trading days, then the principal amount of the note will be deemed satisfied and paid in full. Interest accrued on this note shall be payable on the immediately following interest due date. The principal on the new notes is also subject to the reduction in the event that the note holders convert the Series A Convertible Preferred Shares into ordinary shares within 14 months after the issued date. The collaterals of secured notes include all owned and acquired right, title and interest of the Company. | ||||||||
During the year ended December 31, 2012, the Company had fully repaid the principal of secured note. As of December 31, 2012, the accrued interest expense totally $1,640,284 was included in accrued expenses. | ||||||||
Senior_secured_notes
Senior secured notes | 12 Months Ended |
Dec. 31, 2012 | |
Debt Disclosure [Abstract] | ' |
Senior Secured Notes Disclosure [Text Block] | ' |
15. Senior secured notes | |
On October 9, 2009, the Company completed a private placement of $33 million Senior Secured Notes (“New Notes”) due October 8, 2015 bearing fixed interest rate of 12% per annum combined with 23,158,080 shares of Series B Convertible Preferred Shares to the holders of New Notes. Each share of Series B Convertible Preferred Shares is convertible into one share of the Company’s ordinary shares. With the effective of the reverse share split of the ordinary share at a rate of 1 for 3 on March 1, 2010, three Convertible Preferred Shares can be convertible into one ordinary share. Such change was adopted retrospectively. The net proceeds from the issuance will be used to satisfy the Company’s remaining obligations to the Hubei SOE under its supplementary framework agreement. | |
On the same date, the Company immediately redeemed $13,860,000 of the New Notes due October 2015 reducing the aggregate principal amount of the New Notes outstanding from $33,000,000 to $19,140,000. The value of $11,673,530 was allocated to Series B Convertible Preferred Shares using the relative fair value method and the balance of $7,466,470 was recognized as the value of New Notes. | |
During the year ended December 31, 2012, the Company had fully repaid the senior secured notes totally $25,683,910, for which $19,140,000 was the principal amount, including accretion discount of $11,673,530 on senior secured notes when it was issued, and $6,543,910 was the interest paid. | |
According to the New Notes agreement, the early redemption of principal prior to the third anniversary of the issue date, the interest otherwise payable on a regularly scheduled payment date prior to the 36 month anniversary of the issue date will be deferred (“Deferred Interest”) and accrue and be payable commencing with the payment date that coincides with the third anniversary of the issue date in equal instalments over the remaining regularly scheduled payment dates. Payments of principal amount will resume on the payment date set forth on the amortization schedule of the New Notes. The repayment was scheduled in 6 installments to be paid every 6 months starting from April 16, 2013. The collaterals of senior secured notes include all owned and acquired right, title and interest of the Company. | |
Issuance cost totaled $3,197,205, of which $1,130,990 was allocated to the issuance cost of preferred shares and recorded as a reduction to additional paid-in capital and $2,066,215 was recorded as deferred financing costs and is being amortized over the six-year term of the Senior Secured Note. Due to the full repayment of senior secured notes in 2012, the balance of deferred financing costs have been fully amortized accordingly in 2012. | |
For the years ended December 31, 2012 and 2011, $1,300,671 and $343,271 was amortized to administrative expenses. | |
Shareholders_Equity
Shareholdersb Equity | 12 Months Ended |
Dec. 31, 2012 | |
Stockholders Equity Note [Abstract] | ' |
Stockholders Equity Note Disclosure [Text Block] | ' |
16. Shareholders’ Equity | |
On the completion of Jaguar’s redomestication merger with the Company and the concurrent business combination merger with China Cablecom Holdings, Ltd. in April 2008, the Company issued 2,066,680 ordinary shares and 5,716,357 ordinary shares, par value $.0005, to the previous shareholders of China Cablecom Holdings, Ltd. and Jaguar, respectively. | |
In May 2008, the Company issued 1,524,994 ordinary shares as the incentive shares to the convertible notes subscribers. | |
In July 2008, the Company issued 320,000 ordinary shares, to an entity owned by the Company’s executive chairman, as the fee to the finder of Hubei project. | |
In October 2008, certain warrants holders exercised 49,100 shares with total proceeds of $245,500. | |
Pursuant to the debt restructure in October 2009, the Company issued 15,397,204 and 50,402,082 Series A Convertible Preferred Shares, par value $.0005, to the previous Promissory notes holders and Convertible note holders, respectively. | |
The Company also issued 23,158,080 Series B Convertible Preferred Shares, par value $.0005, as the incentive shares to the New Notes subscribers. As part of the transaction, 250,000 ordinary shares were issued to the Broker for its fees. | |
Holders of ordinary shares, Series A Convertible Preferred Shares and Series B Convertible Preferred Shares have equal rights on any dividend to be paid by the Company. However, the holders of Series A Convertible Preferred Shares and Series B Convertible Preferred Shares have no right to vote at a meeting of the members of the Company or on any resolution of the members of the Company. | |
In the event of the liquidation, winding up or dissolution of the Company, holders of Series B Preferred Shares have the preference rights, over the holders of Series A Preferred Shares and ordinary shares, of distribution of the surplus assets, in the amount up to an aggregate amount equal to the number of issued and outstanding Series B Preferred Shares multiplied by the closing price of the ordinary shares on the Nasdaq Capital Market on 7 October, 2009. | |
The holders of Series A Convertible Preferred Shares and Series B Convertible Preferred Shares have rights to convert one Preferred Shares to one ordinary share at any time. | |
Warrants
Warrants | 12 Months Ended | |||||||||
Dec. 31, 2012 | ||||||||||
Warrants and Rights Note Disclosure [Abstract] | ' | |||||||||
Warrants And Rights Note Disclosure [Text Block] | ' | |||||||||
17. Warrants | ||||||||||
The Company issued warrants to investors and service providers to purchase ordinary share of the Company. The following table outlines the warrants outstanding as of December 31, 2012: | ||||||||||
Name | Number of | Exercise Price | Expiration Date | |||||||
Warrants Issued | ||||||||||
Warrants | 2,115,385 | $ | 0.858 | 8/10/14 | ||||||
Related_Party_Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2012 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions Disclosure [Text Block] | ' |
18. Related Party Transactions | |
Issuance of ordinary shares | |
During the year ended December 31, 2012, the Company issued 901,546 ordinary shares at a consideration of $114,163 to Platinum Partners Value Arbitrage Fund LP to raise fund for financing the operations of the Company. Mark Nordlicht, a member of the board of directors of the Company, is the Chief Executive Officer of Platinum Partners Value Arbitrage Fund LP. | |
Loan advances to a related party | |
During the year ended December 31, 2012, the Company has a loan totally $1,322,090 advanced to Beijing Zhong You Xian Tong Information Technology Co. Ltd., which was unsecured, interest-free and repayable on December 31, 2014. Pu Yue, the Chief Executive Officer, is the owner and legal representative of Beijing Zhong You Xian Tong Information Technology Co. Ltd. | |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2012 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Commitments and Contingencies Disclosure [Text Block] | ' |
19. Commitments and Contingencies | |
Certain conditions may exist as of the date the financial statements are issued, which may result in a loss to the Company, but which will only be resolved when one or more future events occur or fail to occur. The Company’s management and its legal counsel assess such contingent liabilities, and such assessment inherently involves an exercise of judgment. In assessing loss contingencies related to legal proceedings that are pending against the Company, or unasserted claims that may result in such proceedings, the Company’s legal counsel evaluates the perceived merits of any legal proceedings or unasserted claims as well as the perceived merits of the amount of relief sought or expected to be sought therein. | |
If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, the estimated liability would be accrued in the Company’s consolidated financial statements. If the assessment indicates that a potentially material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, the nature of the contingent liability, together with an estimate of the range of possible loss if determinable and material, would be disclosed. | |
Operating_Risk
Operating Risk | 12 Months Ended |
Dec. 31, 2012 | |
Risks and Uncertainties [Abstract] | ' |
Concentration Risk Disclosure [Text Block] | ' |
20. Operating Risk | |
Company’s investments are substantially in foreign countries | |
All of the Company equity investments are operating in the PRC. Such investments are subject to various political, economic, and other risks and uncertainties inherent in the PRC. Among other risks, the Company’s investments are subject to the risks of restrictions on transfer of funds; changing taxation policies; foreign exchange restrictions; and political conditions and governmental regulations. | |
Concentration of income from operating joint ventures | |
All of the income of the Company is generated from the provision of management services to joint ventures. Any disposal of joint ventures’ operations will have significant impact on the income of the Company. | |
Restrictions on transfer of assets out of the PRC | |
Dividend payments by the Company are limited by certain statutory regulations in the PRC. The Company shall not pay any dividend without receiving first prior approval from the Foreign Currency Exchange Management Bureau. Dividend payments are restricted to 85% of profits, after tax. | |
Foreign exchange risk | |
Substantially all of the Company’s businesses are transacted in RMB, which is not freely convertible into foreign currencies. On January 1, 1994, the PRC government abolished the dual rate system and introduced a single rate of exchange as quoted daily by the People’s Bank of China. However, the unification of the exchange rates does not imply the convertibility of RMB into US$ or other foreign currencies. All foreign exchange transactions continue to take place either through the People’s Bank of China or other banks authorized to buy and sell foreign currencies at the exchange rates quoted by the People’s Bank of China. Approval of foreign currency payments by the People’s Bank of China or other institutions requires submitting a payment application form together with suppliers’ invoices, shipping documents and signed contracts. | |
Consolidation of Variable Interest Entities (VIE) | |
The consolidation of JYNT is based on the assumption that China Cablecom is the primary beneficiary of the VIE and can exercise the power to direct the activities that most significant impact the economic performance of the VIE and the obligation to absorb losses or the right to receive benefits of the VIE. Any failure to obtain the control will cause China Cablecom lost the economic benefit in the VIE and may require to deconsolidate the VIE that the Company currently consolidated. The impact will be applied retrospectively with a cumulative-effect adjustment to retained earnings as of the beginning of first year restated, or through a cumulative-effect adjustment on the date of applied. | |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended | |||
Dec. 31, 2012 | ||||
Accounting Policies [Abstract] | ' | |||
Cash and Cash Equivalents, Policy [Policy Text Block] | ' | |||
Cash and Cash Equivalents | ||||
Cash and cash equivalents include all cash and deposits in banks. As of December 31, 2012, most of total cash and cash equivalents were denominated in Renminbi (“RMB”) with its deposits placed with banks in the PRC. This cash is not freely convertible into foreign currencies and the remittance of these funds out of the PRC is subject to exchange control restrictions imposed by the PRC government. The remaining balance of cash and cash equivalents were denominated in US dollars and deposits in banks with reputable financial institutions in the United States. | ||||
Deferred Charges, Policy [Policy Text Block] | ' | |||
Deferred Financing Costs | ||||
Deferred financing costs related to the Company’s Senior Secured Note are being amortized over the life of the notes payable of 6 years. Upon the fully repayment of Senior Secured Note, all deferred financing costs have been expensed this year. | ||||
Amortization for the years ended December 31, 2012, 2011 and 2010 was $1,300,671, $343,272 and $343,272, respectively. Indirect costs of financing activities are expensed as incurred. | ||||
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | ' | |||
Valuation of Long-lived Assets | ||||
The Company periodically evaluates the carrying value of long-lived assets to be held and used when events and circumstances warrant such a review. The carrying value of a long-lived asset is considered impaired when the anticipated undiscounted cash flows from such asset is less than its carrying value. In that event, an impairment loss is recognized based on the amount by which the carrying value exceeds the fair value of the long-lived asset. Fair value is determined primarily using the anticipated cash flows discounted at a rate commensurate with the risk involved. Losses on long-lived assets to be disposed of are determined in a similar manner, except that fair values are reduced for the cost to dispose. | ||||
Fair Value of Financial Instruments, Policy [Policy Text Block] | ' | |||
Fair value of financial instruments | ||||
FASB ASC Topic 820, Fair Value Measurement and Disclosures, defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. This topic also establishes a fair value hierarchy which requires classification based on observable and unobservable inputs when measuring fair value. There are three levels of inputs that may be used to measure fair value: | ||||
Level 1 | - | Quoted prices in active markets for identical assets or liabilities. | ||
Level 2 | - | Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. | ||
Level 3 | - | Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. | ||
The carrying amounts of financial assets and liabilities, such as cash, accounts receivable, prepaid expenses and other current assets, accounts payable, and other current liabilities, approximate their fair values because of the short maturity of these instruments and market rates of interest. | ||||
Property, Plant and Equipment, Policy [Policy Text Block] | ' | |||
Property, Plant and Equipment | ||||
Plant and equipment are stated at cost less accumulated depreciation. Additions and improvements to property and equipment accounts are recorded at cost. Maintenance, repairs, and minor renewals are charged directly to expense as incurred. Major additions and betterments to property and equipment accounts are capitalized. Depreciation is computed using the straight-line method over the estimated useful lives less residual value. | ||||
Depreciation of property, plant and equipment is computed using the straight-line method over the following estimated useful lives of the assets: - | ||||
Years | ||||
Furniture, fixtures and office equipments | 5 | |||
Motor vehicles | 10-Apr | |||
Building improvements | 20-40 | |||
Use of Estimates, Policy [Policy Text Block] | ' | |||
Use of Estimates | ||||
The preparation of the Company’s financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect 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. | ||||
The financial statements include some amounts that are based on management’s best estimates and judgments. The most significant estimates relate to useful lives for depreciation and amortization, deferred tax provisions and valuation allowances, purchase price allocations, contingencies. These estimates may be adjusted as more current information becomes available to the Company and any adjustment could be significant to the accompanying financial statements. | ||||
The determination of the primary beneficiary of a VIE based on whether the Company has the power to direct the activities that most significant impact the economic performance of the VIE and the obligation to absorb losses or the right to receive benefits of the VIE. It require the Company to make an ongoing assessment of the primary beneficiary of a VIE. The Company may require to deconsolidate certain VIE when there is information indicate that the Company lost the primary beneficiary to a VIE. | ||||
Comprehensive Income, Policy [Policy Text Block] | ' | |||
Comprehensive Income | ||||
The Company has adopted FASB ASC 220, “Comprehensive Income”. This statement establishes rules for the reporting of comprehensive income and its components. Comprehensive income consists of net income and foreign currency translation adjustments and is presented in the Consolidated Statements of Income and the Consolidated Statements of Equity. | ||||
Income Tax, Policy [Policy Text Block] | ' | |||
Income Taxes | ||||
The Company accounts for income taxes under FASB ASC Topic 740 "Income Taxes". Deferred income tax assets and liabilities are determined based upon differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be effective when the differences are expected to reverse. | ||||
Deferred tax assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the statements of income in the period that includes the enactment date. | ||||
FASB ASC Topic 740 prescribes a more-likely-than-not threshold for financial statement recognition and measurement of a tax position taken in the tax return. This interpretation also provides guidance on de-recognition of income tax assets and liabilities, classification of current and deferred income tax assets and liabilities, accounting for interest and penalties associated with tax positions, accounting for income taxes in interim periods and income tax disclosures. | ||||
Foreign Currency Transactions and Translations Policy [Policy Text Block] | ' | |||
Foreign Currency Translation | ||||
China Cablecom Holdings, Ltd.’s functional currency is the US dollar. The Company’s subsidiaries and VIEs determine their functional currencies based on the criteria of FASB ASC 830 Foreign Currency Translation and have determined their functional currency to be their respective local currency. The Company uses the average exchange rate for the period and the exchange rate at the balance sheet date to translate its operating results and financial position, respectively. Any translation gains (losses) are recorded in accumulated other comprehensive income (loss) as a component of shareholders’ equity. Transactions denominated in foreign currencies are translated into the functional currency at the exchange rates prevailing on the transaction dates. Assets and liabilities denominated in foreign currencies are translated into the functional currency at the exchange rates prevailing at the balance sheet date. Exchange gains and losses are included in the consolidated statements of income. | ||||
Translation of amounts from RMB into United States dollars (“US$”) has been made at the following exchange rates for the respective periods: | ||||
31-Dec-12 | ||||
Balance sheet | RMB6.2855 to US$1.00 | |||
Statement of operations and comprehensive loss | RMB6.2932 to US$1.00 | |||
31-Dec-11 | ||||
Balance sheet | RMB6.3009 to US$1.00 | |||
Statement of operations and comprehensive loss | RMB6.4618 to US$1.00 | |||
31-Dec-10 | ||||
Balance sheet | RMB6.6227 to US$1.00 | |||
Statement of operations and comprehensive loss | RMB6.7256 to US$1.00 | |||
Earnings Per Share, Policy [Policy Text Block] | ' | |||
Basic Income/Loss Per Ordinary Share | ||||
The computation of income/loss per share is based on the weighted average number of shares outstanding during the period presented in accordance with FASB ASC 260, “Earnings Per Share”. At December 31, 2012, 2011 and 2010, due to net losses the Company’s share equivalents were anti-dilutive and excluded in the loss per share computations. | ||||
Revenue Recognition, Policy [Policy Text Block] | ' | |||
Revenue recognition | ||||
The principal activity of the Company was previously the joint venture operation of two cable television networks in China: Binzhou Broadcasting and Television Information Network Co., Ltd and Hubei Chutian Video Communication Network Co., Ltd. | ||||
The Company recognizes revenue based on the following: | ||||
Management fee income – The management fee income was received from Hubei Chutian in accordance with the Exclusive Services Agreement signed between JYNT and Hubei Chutian. JYNT was the sole service provider of Hubei Chutian and provides the services of marketing, strategic consulting and technical support. The Company recognizes the management fee income when the right to receive payment is established in accordance with the services agreement. | ||||
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | ' | |||
Stock-Based Compensation | ||||
The Company awards stock options and other equity-based instruments to its employees and directors (collectively “share-based payments”). Compensation cost related to such awards is measured based on the fair value of the instrument on the grant date and is recognized on a straight-line basis over the requisite service period, which generally equals the vesting period. All of the Company’s stock-based compensation is based on grants of equity instruments and no liability awards have been granted. | ||||
Off-Balance-Sheet Credit Exposure, Policy [Policy Text Block] | ' | |||
Off-balance Sheet Arrangements | ||||
The Company does not have any off-balance sheet arrangements as of December 31, 2012, 2011 and 2010. | ||||
Organization_and_Basis_of_Prep1
Organization and Basis of Preparation of Financial Statements (Tables) | 12 Months Ended | |||||||
Dec. 31, 2012 | ||||||||
Schedule of Subsidiary of Limited Liability Company or Limited Partnership, Description [Table Text Block] | ' | |||||||
As of December 31, 2012, the consolidated financial statements include the accounts of the Company and the following entities. | ||||||||
Place of | Attributable | Direct/ Indirect | ||||||
Name of Company | incorporation | equity interest | controlling interest | |||||
China Cablecom Ltd | British Virgin Islands | 100% | Direct | |||||
China Cablecom Company Limited | Hong Kong | 100% | Indirect | |||||
Heze Cablecom Network Technology Co., Ltd | PRC | 100% | Indirect | |||||
Jinan Youxiantong Network Technology Co., Ltd | PRC | * | Indirect | |||||
* The Company has indirect controlling interest of Jinan Youxiantong Network Technology Co., Ltd under the contractual arrangement. | ||||||||
JYNT [Member] | ' | |||||||
Condensed Balance Sheet [Table Text Block] | ' | |||||||
The following table shows the Balance Sheets of JYNT as of December 31, 2012 and 2011: | ||||||||
December 31, 2012 | December 31, 2011 | |||||||
ASSETS | ||||||||
Current Assets: | ||||||||
Cash and cash equivalents | $ | 7,384,218 | $ | 101,616 | ||||
Prepaid expenses and advances | 3,715 | 3,705 | ||||||
Other receivables | 318,193 | - | ||||||
Amount due from HZNT | 24,484,194 | - | ||||||
Total Current Assets | 32,190,320 | 105,321 | ||||||
Property, plant & equipment, net | 3,083 | 5,296 | ||||||
Investment in operating joint venture | - | 50,378,205 | ||||||
Loan advances | 1,322,090 | - | ||||||
Total Assets | $ | 33,515,493 | $ | 50,488,822 | ||||
LIABILITIES | ||||||||
Current Liabilities: | ||||||||
Other current liabilities | $ | 2,355,778 | $ | 2,336,801 | ||||
Amount due to HZNT | - | 26,065,169 | ||||||
Amount due to China Cablecom | 39,428,900 | 39,275,207 | ||||||
Amount due to Hubei Chutian | - | 3,189,195 | ||||||
Total Liabilities | 41,784,678 | 70,866,372 | ||||||
OWNERS’ EQUITY | ||||||||
Registered Capital | 69,728 | 69,728 | ||||||
Additional paid-in capital | 79,812 | 79,812 | ||||||
Accumulated deficit | -8,104,714 | -15,990,313 | ||||||
Accumulated other comprehensive loss | -314,011 | -4,536,777 | ||||||
Total owners’ deficiency | -8,269,185 | -20,377,550 | ||||||
Total liabilities and owners’ deficiency | $ | 33,515,493 | $ | 50,488,822 | ||||
Condensed Income Statement [Table Text Block] | ' | |||||||
The following table shows the Statements of Operations of JYNT for the years ended December 31, 2012 and 2011: | ||||||||
For the year ended | For the year ended | |||||||
December 31, 2012 | December 31, 2011 | |||||||
Management fee income | $ | - | $ | 4,632,022 | ||||
Share of loss on operating joint ventures | - | -2,448,005 | ||||||
Gain on disposal of investment | 7,889,513 | - | ||||||
7,889,513 | 2,184,017 | |||||||
Operating expenses | ||||||||
General and administrative expenses | 86,883 | 52,673 | ||||||
Total operating expenses | 86,883 | 52,673 | ||||||
Profit / (loss) from operations | 7,802,630 | 2,131,344 | ||||||
Other income / (expenses) | ||||||||
Interest income | 83,372 | 549 | ||||||
Interest expense | -395 | -516,130 | ||||||
Forfeiture of investment fund | - | -754,979 | ||||||
Provision for impairment on investment | - | -9,806,150 | ||||||
Total other income / (expenses) | 82,977 | -11,076,710 | ||||||
Profit / (loss) before income taxes | 7,885,607 | -8,945,366 | ||||||
Income taxes expenses | -8 | -1,015,950 | ||||||
Net profit / (loss) | $ | 7,885,599 | $ | -9,961,316 | ||||
Condensed Cash Flow Statement [Table Text Block] | ' | |||||||
The following table shows the condensed cash flows of JYNT for the years ended December 31, 2012 and 2011: | ||||||||
For the year ended | For the year ended | |||||||
December 31, 2012 | December 31, 2011 | |||||||
Net cash used in operating activities | $ | -51,859,748 | $ | -46,772 | ||||
Net cash provided by / (used in) investing activities | 59,132,801 | -155 | ||||||
Net increase / (decrease) in cash | 7,273,053 | -46,927 | ||||||
Effect of exchange rate changes on cash | 9,549 | 6,077 | ||||||
Cash at the beginning of the period | 101,616 | 142,466 | ||||||
Cash at the end of the period | $ | 7,384,218 | $ | 101,616 | ||||
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Tables) | 12 Months Ended | |||
Dec. 31, 2012 | ||||
Accounting Policies [Abstract] | ' | |||
Estimated Useful Life Of Property Plant And Equipment [Table Text Block] | ' | |||
Depreciation of property, plant and equipment is computed using the straight-line method over the following estimated useful lives of the assets: - | ||||
Years | ||||
Furniture, fixtures and office equipments | 5 | |||
Motor vehicles | 10-Apr | |||
Building improvements | 20-40 | |||
Schedule Of Foreign Currency Exchange Rate, Translation [Table Text Block] | ' | |||
Translation of amounts from RMB into United States dollars (“US$”) has been made at the following exchange rates for the respective periods: | ||||
31-Dec-12 | ||||
Balance sheet | RMB6.2855 to US$1.00 | |||
Statement of operations and comprehensive loss | RMB6.2932 to US$1.00 | |||
31-Dec-11 | ||||
Balance sheet | RMB6.3009 to US$1.00 | |||
Statement of operations and comprehensive loss | RMB6.4618 to US$1.00 | |||
31-Dec-10 | ||||
Balance sheet | RMB6.6227 to US$1.00 | |||
Statement of operations and comprehensive loss | RMB6.7256 to US$1.00 | |||
Stock_Based_Compensation_Table
Stock Based Compensation (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2012 | ||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | ' | |||||||||||||||||||
The following table outlines the variables used to derive the fair value using in the Black-Scholes option-pricing model: | ||||||||||||||||||||
Risk free interest rate | 1.3177% - 1.4864% | |||||||||||||||||||
Volatility | 163.46% - 170.57% | |||||||||||||||||||
Dividend yield | - | |||||||||||||||||||
Expected option life | 10 years | |||||||||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | |||||||||||||||||||
Movements in the number of share options outstanding and their related weighted average exercise prices are as follows: | ||||||||||||||||||||
2012 | 2011 | 2010 | ||||||||||||||||||
Shares | Weighted | Shares | Weighted | Shares | Weighted | |||||||||||||||
average | average | average | ||||||||||||||||||
exercise | exercise | exercise | ||||||||||||||||||
price | price | price | ||||||||||||||||||
Options outstanding at beginning of year | 2,650,000 | $ | 2.07 | 2,810,000 | $ | 2.07 | 2,810,000 | $ | 2.07 | |||||||||||
Granted | - | - | - | - | - | - | ||||||||||||||
Cancelled | - | - | -160,000 | - | - | - | ||||||||||||||
Options outstanding at end of year | 2,650,000 | $ | 2.07 | 2,650,000 | $ | 2.07 | 2,810,000 | $ | 2.07 | |||||||||||
Options exercisable at end of year | 2,650,000 | 2,650,000 | 2,810,000 | |||||||||||||||||
Options available for issuance | 523,333 | 523,333 | 523,333 | |||||||||||||||||
Prepaid_Expenses_and_Advances_
Prepaid Expenses and Advances (Tables) | 12 Months Ended | |||||||
Dec. 31, 2012 | ||||||||
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | ' | |||||||
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block] | ' | |||||||
Prepaid expenses and other receivables consist of the following: | ||||||||
December 31, 2012 | December 31, 2011 | |||||||
Advanced payments | $ | 3,715 | $ | 60,356 | ||||
Total | $ | 3,715 | $ | 60,356 | ||||
Property_Plant_and_Equipment_N1
Property, Plant and Equipment, Net (Tables) | 12 Months Ended | |||||||
Dec. 31, 2012 | ||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||
Property, Plant and Equipment [Table Text Block] | ' | |||||||
Property, plant and equipment, net consist of the following: | ||||||||
December 31, 2012 | December 31, 2011 | |||||||
At cost: | ||||||||
Furniture, fixtures and office equipment | $ | 57,371 | $ | 56,755 | ||||
Motor vehicles | 58,198 | 58,055 | ||||||
Building improvements | 20,619 | 20,568 | ||||||
Total | 136,188 | 135,378 | ||||||
Less: accumulated depreciation | -132,406 | -113,652 | ||||||
Net book value | $ | 3,782 | $ | 21,726 | ||||
Investment_in_operating_joint_1
Investment in operating joint venture (Tables) | 12 Months Ended | |||||||
Dec. 31, 2012 | ||||||||
Equity Method Investments and Joint Ventures [Abstract] | ' | |||||||
Equity Method Investments [Table Text Block] | ' | |||||||
December 31, 2012 | December 31, 2011 | |||||||
Unlisted equity investment, at cost | $ | 8,138,675 | $ | 8,138,675 | ||||
Share of loss and other comprehensive | ||||||||
loss, net of dividend received | -12,946,118 | -12,946,118 | ||||||
Loan advances | 65,746,777 | 65,746,777 | ||||||
$ | 60,939,334 | $ | 60,939,334 | |||||
Less: Forfeiture of investment fund | -754,979 | -754,979 | ||||||
Provision for impairment on investment | -9,806,150 | -9,806,150 | ||||||
Disposal of investment | -50,378,205 | - | ||||||
$ | - | $ | 50,378,205 | |||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||
Dec. 31, 2012 | |||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | ' | ||||||||||
The amount of income tax charged to the consolidated statement of comprehensive income represents: | |||||||||||
For the year ended | For the year ended | For the year ended | |||||||||
December 31, 2012 | December 31, 2011 | December 31, 2010 | |||||||||
PRC | |||||||||||
- current income tax | $ | 11 | $ | 1,015,951 | $ | 975,712 | |||||
- deferred income tax | - | - | - | ||||||||
Total | $ | 11 | $ | 1,015,951 | $ | 975,712 | |||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | ' | ||||||||||
A reconciliation of the expected income tax expense to the actual income tax expense is as follows: | |||||||||||
For the year ended | For the year ended | For the year ended | |||||||||
December 31, 2012 | December 31, 2011 | December 31, 2010 | |||||||||
Loss before income taxes | $ | -5,988,833 | $ | -19,720,981 | $ | -13,431,975 | |||||
Tax calculated at the domestic tax rate of 25% | -1,497,208 | -4,930,245 | -3,357,994 | ||||||||
Tax effect of expenses not deductible for tax purposes | 1,641,239 | 5,334,201 | 2,271,844 | ||||||||
Tax effect of share of profit and loss of operating joint ventures | - | 612,001 | 2,061,968 | ||||||||
Tax effect of non-taxable income | -144,020 | -6 | -106 | ||||||||
Income tax expense | $ | 11 | $ | 1,015,951 | $ | 975,712 | |||||
Other_Current_Liabilities_Tabl
Other Current Liabilities (Tables) | 12 Months Ended | |||||||
Dec. 31, 2012 | ||||||||
Other Liabilities Disclosure [Abstract] | ' | |||||||
Other Liabilities [Table Text Block] | ' | |||||||
Other current liabilities consist of the following: | ||||||||
December 31, 2012 | December 31, 2011 | |||||||
Other payables | $ | 400,279 | $ | 403,598 | ||||
Accrued expenses | 178,587 | 335,511 | ||||||
Accrued salaries and welfare | 291,291 | 333,974 | ||||||
Provision for taxation - PRC | 2,338,539 | 2,332,823 | ||||||
Accrued interest | 2,144,626 | 2,804,169 | ||||||
Total | $ | 5,353,322 | $ | 6,210,075 | ||||
Unsecured_notes_Tables
Unsecured notes (Tables) | 12 Months Ended | |||||||
Dec. 31, 2012 | ||||||||
Debt Disclosure [Abstract] | ' | |||||||
Schedule of Unsecured Debt [Table Text Block] [Table Text Block] | ' | |||||||
December 31, 2012 | December 31, 2011 | |||||||
Unsecured note issued | $ | 4,218,128 | $ | 4,218,128 | ||||
Less: Repayment | -4,218,128 | - | ||||||
- | 4,218,128 | |||||||
Less: Current portion | - | -4,218,128 | ||||||
Long-term portion | $ | - | $ | - | ||||
Secured_notes_Tables
Secured notes (Tables) | 12 Months Ended | |||||||
Dec. 31, 2012 | ||||||||
Debt Disclosure [Abstract] | ' | |||||||
Secured Debt Disclosure [Table Text Block] | ' | |||||||
Secured notes, net of discount consists of the following: | ||||||||
December 31, 2012 | December 31, 2011 | |||||||
Secured note issued | $ | 16,159,035 | $ | 16,159,035 | ||||
Less: Repayment | -16,159,035 | - | ||||||
- | 16,159,035 | |||||||
Less: Current portion | - | -16,159,035 | ||||||
Long-term portion | $ | - | $ | - | ||||
Warrants_Tables
Warrants (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2012 | ||||||||||
Warrants and Rights Note Disclosure [Abstract] | ' | |||||||||
Schedule of Stockholders Equity Note, Warrants or Rights [Table Text Block] | ' | |||||||||
The following table outlines the warrants outstanding as of December 31, 2012: | ||||||||||
Name | Number of | Exercise Price | Expiration Date | |||||||
Warrants Issued | ||||||||||
Warrants | 2,115,385 | $ | 0.858 | 8/10/14 | ||||||
Organization_and_Basis_of_Prep2
Organization and Basis of Preparation of Financial Statements (Details) | 12 Months Ended | |||||
Dec. 31, 2006 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | ||
China Cablecom Ltd [Member] | China Cablecom Company Limited [Member] | Heze Cablecom Network Technology Co., Ltd [Member] | Jinan Youxiantong Network Technology Co., Ltd [Member] | |||
Entity Incorporation, State Country Name | 'British Virgin Islands | 'British Virgin Islands | 'Hong Kong | 'PRC | 'PRC | |
Noncontrolling Interest, Ownership Percentage by Parent | ' | 100.00% | 100.00% | 100.00% | ' | [1] |
Mode Of Controlling Interest | ' | 'Direct | 'Indirect | 'Indirect | 'Indirect | |
[1] | The Company has indirect controlling interest of Jinan Youxiantong Network Technology Co., Ltd under the contractual arrangement. |
Organization_and_Basis_of_Prep3
Organization and Basis of Preparation of Financial Statements (Details 1) (USD $) | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2009 |
ASSETS | ' | ' | ' | ' |
Cash and cash equivalents | $10,080,336 | $592,709 | $929,072 | $6,992,541 |
Prepaid expenses and advances | 3,715 | 60,356 | ' | ' |
Other receivables | 318,193 | 0 | ' | ' |
Total Current Assets | 10,402,244 | 653,065 | ' | ' |
Property, plant & equipment, net | 3,782 | 21,726 | ' | ' |
Investment in operating joint venture | 0 | 50,378,205 | ' | ' |
Loan advances | 1,322,090 | 0 | ' | ' |
Total Assets | 11,728,116 | 52,353,667 | ' | ' |
LIABILITIES | ' | ' | ' | ' |
Other current liabilities | 5,353,322 | 6,210,075 | ' | ' |
Due to Related Parties, Current | 0 | 3,189,195 | ' | ' |
OWNERSb EQUITY | ' | ' | ' | ' |
Registered Capital | 21,893 | 20,541 | ' | ' |
Additional paid-in capital | 117,572,683 | 116,031,025 | ' | ' |
Accumulated deficit | -111,297,838 | -105,308,994 | ' | ' |
Accumulated other comprehensive loss | -370,834 | -2,796,932 | ' | ' |
Total ownersb deficiency | 5,957,643 | 7,977,379 | 30,253,403 | 39,904,647 |
Total liabilities and owners' deficiency | 11,728,116 | 52,353,667 | ' | ' |
Jinan Youxiantong Network Technology Co., Ltd [Member] | ' | ' | ' | ' |
ASSETS | ' | ' | ' | ' |
Cash and cash equivalents | 7,384,218 | 101,616 | 142,466 | ' |
Prepaid expenses and advances | 3,715 | 3,705 | ' | ' |
Other receivables | 318,193 | 0 | ' | ' |
Amount due from HZNT | 24,484,194 | 0 | ' | ' |
Total Current Assets | 32,190,320 | 105,321 | ' | ' |
Property, plant & equipment, net | 3,083 | 5,296 | ' | ' |
Investment in operating joint venture | 0 | 50,378,205 | ' | ' |
Loan advances | 1,322,090 | 0 | ' | ' |
Total Assets | 33,515,493 | 50,488,822 | ' | ' |
LIABILITIES | ' | ' | ' | ' |
Other current liabilities | 2,355,778 | 2,336,801 | ' | ' |
Total Liabilities | 41,784,678 | 70,866,372 | ' | ' |
OWNERSb EQUITY | ' | ' | ' | ' |
Registered Capital | 69,728 | 69,728 | ' | ' |
Additional paid-in capital | 79,812 | 79,812 | ' | ' |
Accumulated deficit | -8,104,714 | -15,990,313 | ' | ' |
Accumulated other comprehensive loss | -314,011 | -4,536,777 | ' | ' |
Total ownersb deficiency | -8,269,185 | -20,377,550 | ' | ' |
Total liabilities and owners' deficiency | 33,515,493 | 50,488,822 | ' | ' |
Jinan Youxiantong Network Technology Co., Ltd [Member] | Heze Cablecom Network Technology Co., Ltd [Member] | ' | ' | ' | ' |
LIABILITIES | ' | ' | ' | ' |
Due to Related Parties, Current | 0 | 26,065,169 | ' | ' |
Jinan Youxiantong Network Technology Co., Ltd [Member] | China Cablecom Ltd [Member] | ' | ' | ' | ' |
LIABILITIES | ' | ' | ' | ' |
Due to Related Parties, Current | 39,428,900 | 39,275,207 | ' | ' |
Jinan Youxiantong Network Technology Co., Ltd [Member] | Hubei Chutian [Member] | ' | ' | ' | ' |
LIABILITIES | ' | ' | ' | ' |
Due to Related Parties, Current | $0 | $3,189,195 | ' | ' |
Organization_and_Basis_of_Prep4
Organization and Basis of Preparation of Financial Statements (Details 2) (USD $) | 12 Months Ended | ||
Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Management fee income | $0 | $4,632,022 | $4,450,438 |
Share of loss on operating joint ventures | 0 | -2,448,005 | -8,247,873 |
Gain on disposal of investment | 7,889,513 | 0 | 0 |
Revenues | 7,889,513 | 2,184,017 | -3,797,435 |
Operating expenses | ' | ' | ' |
General and administrative expenses | 3,178,337 | 4,705,283 | 5,450,965 |
Total operating expenses | 3,178,337 | 4,705,283 | 5,450,965 |
Profit / (loss) from operations | 4,711,176 | -2,521,266 | -9,248,400 |
Other income / (expenses) | ' | ' | ' |
Interest income | 144,022 | 945 | 10,566 |
Interest expense | -10,844,031 | -6,639,531 | -4,211,707 |
Forfeiture of investment fund | 0 | -754,979 | 0 |
Provision for impairment on investment | 0 | -9,806,150 | 0 |
Total other income / (expenses) | -10,700,009 | -17,199,715 | -4,183,575 |
Profit / (loss) before income taxes | -5,988,833 | -19,720,981 | -13,431,975 |
Income taxes expenses | -11 | -1,015,951 | -975,712 |
Net profit / (loss) | -5,988,844 | -20,736,932 | -14,407,687 |
Jinan Youxiantong Network Technology Co., Ltd [Member] | ' | ' | ' |
Management fee income | 0 | 4,632,022 | ' |
Share of loss on operating joint ventures | 0 | -2,448,005 | ' |
Gain on disposal of investment | 7,889,513 | 0 | ' |
Revenues | 7,889,513 | 2,184,017 | ' |
Operating expenses | ' | ' | ' |
General and administrative expenses | 86,883 | 52,673 | ' |
Total operating expenses | 86,883 | 52,673 | ' |
Profit / (loss) from operations | 7,802,630 | 2,131,344 | ' |
Other income / (expenses) | ' | ' | ' |
Interest income | 83,372 | 549 | ' |
Interest expense | -395 | -516,130 | ' |
Forfeiture of investment fund | 0 | -754,979 | ' |
Provision for impairment on investment | 0 | -9,806,150 | ' |
Total other income / (expenses) | 82,977 | -11,076,710 | ' |
Profit / (loss) before income taxes | 7,885,607 | -8,945,366 | ' |
Income taxes expenses | -8 | -1,015,950 | ' |
Net profit / (loss) | $7,885,599 | ($9,961,316) | ' |
Organization_and_Basis_of_Prep5
Organization and Basis of Preparation of Financial Statements (Details 3) (USD $) | 12 Months Ended | ||
Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Net cash used in operating activities | ($3,596,623) | ($788,571) | $29,853 |
Net cash provided by / (used in) investing activities | 59,132,801 | -155 | -6,701,484 |
Net increase / (decrease) in cash | 9,487,627 | -336,363 | -6,063,469 |
Effect of exchange rate changes on cash | 12,522 | 35,212 | 321,270 |
Cash and cash equivalents at beginning of period | 592,709 | 929,072 | 6,992,541 |
Cash and cash equivalents at end of period | 10,080,336 | 592,709 | 929,072 |
Jinan Youxiantong Network Technology Co., Ltd [Member] | ' | ' | ' |
Net cash used in operating activities | -51,859,748 | -46,772 | ' |
Net cash provided by / (used in) investing activities | 59,132,801 | -155 | ' |
Net increase / (decrease) in cash | 7,273,053 | -46,927 | ' |
Effect of exchange rate changes on cash | 9,549 | 6,077 | ' |
Cash and cash equivalents at beginning of period | 101,616 | 142,466 | ' |
Cash and cash equivalents at end of period | $7,384,218 | $101,616 | ' |
Organization_and_Basis_of_Prep6
Organization and Basis of Preparation of Financial Statements (Details Textual) | 12 Months Ended | 12 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 1 Months Ended | 63 Months Ended | 12 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | 3 Months Ended | ||||||||||||||||||||||||||
Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2006 | Dec. 31, 2007 | Dec. 31, 2007 | Dec. 31, 2012 | Dec. 31, 2012 | Jun. 15, 2012 | Dec. 31, 2012 | Apr. 09, 2008 | Dec. 31, 2012 | Apr. 09, 2008 | Apr. 09, 2008 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Oct. 31, 2007 | Dec. 31, 2012 | Oct. 01, 2007 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2009 | Dec. 31, 2008 | Dec. 31, 2012 | Dec. 31, 2012 | Oct. 02, 2009 | Jun. 16, 2008 | Apr. 09, 2008 | Apr. 09, 2008 | |
USD ($) | USD ($) | USD ($) | Pu Yue [Member] | Liang Yuejing [Member] | Hubei SOE [Member] | Hubei SOE [Member] | Hubei SOE [Member] | Heze Cablecom Network Technology Co., Ltd [Member] | China Cablecom Ltd [Member] | China Cablecom Ltd [Member] | China Cablecom Ltd [Member] | China Cablecom Ltd [Member] | First Instalment [Member] | First Instalment [Member] | Second Instalment [Member] | Second Instalment [Member] | Third Instalment [Member] | Third Instalment [Member] | Four Instalment [Member] | Four Instalment [Member] | Five Instalment [Member] | Five Instalment [Member] | Six Instalment [Member] | Six Instalment [Member] | Binzhou Broadcasting [Member] | Binzhou Broadcasting [Member] | Binzhou Broadcasting [Member] | Binzhou Broadcasting [Member] | Binzhou SOE [Member] | Binzhou SOE [Member] | Hubei Chutian [Member] | Hubei Chutian [Member] | Hubei Chutian [Member] | Hubei Chutian [Member] | Hubei Chutian [Member] | Hubei Chutian [Member] | Jaguar Acquisition Corporation [Member] | Jaguar Acquisition Corporation [Member] | ||
CNY | CNY | USD ($) | CNY | USD ($) | Series A Preferred Stock [Member] | Common Stock [Member] | USD ($) | CNY | USD ($) | CNY | USD ($) | CNY | USD ($) | CNY | USD ($) | CNY | USD ($) | CNY | USD ($) | USD ($) | JYNT [Member] | USD ($) | CNY | USD ($) | USD ($) | USD ($) | CNY | Common Stock [Member] | ||||||||||||
Entity Incorporation, State Country Name | ' | ' | ' | 'British Virgin Islands | ' | ' | ' | ' | ' | 'PRC | ' | 'British Virgin Islands | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Entity Incorporation, Date of Incorporation | ' | ' | ' | 6-Oct-06 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number Of Units Issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,950,000 | ' |
Equity Method Investment, Ownership Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 51.00% | 49.00% | 49.00% | ' | ' | ' | ' | ' | ' | ' | 49.00% | ' | ' |
Payments to Acquire Interest in Joint Venture | $0 | $0 | $6,657,839 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $14,000,000 | ' | ' | ' | ' | ' | $60,400,000 | ' | ' | ' | ' | ' | ' |
Accrued Capital Contribution Payable In Joint Venture | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Penalty Amount For Not Settling Capital Contribution | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 754,979 | 5,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Provision For Impairment On Investment | 0 | 9,806,150 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,806,150 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Economic Benefits, Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11.00% | ' | ' | ' | ' | ' | ' | 11.00% | ' | ' | ' | ' | ' | ' |
Equity Method Investment, Net Sales Proceeds | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,945,084 | 50,000,000 | 16,049,068 | 101,000,000 | 7,945,084 | 50,000,000 | 7,945,084 | 50,000,000 | 11,622,067 | 73,140,000 | 7,945,084 | 50,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | 59,133,278 | 372,140,000 | ' | ' | ' | ' |
Equity Method Investment Net Sales Proceed Due Date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'March 22, 2012 | 'March 22, 2012 | 'June 15, 2012 | 'June 15, 2012 | 'due on the date when representative of JYNT and Hubei SOE go to the Administration for Industry and Commerce to submit the application for the change of registration of Hubei Chutian | 'due on the date when representative of JYNT and Hubei SOE go to the Administration for Industry and Commerce to submit the application for the change of registration of Hubei Chutian | 'July 25, 2012 | 'July 25, 2012 | 'August 25, 2012 | 'August 25, 2012 | 'September 25, 2012 | 'September 25, 2012 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity Method Investment, Realized Gain (Loss) on Disposal | 7,889,513 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,889,513 | ' | ' | ' | ' | ' |
Equity Method Investment, Amount Sold | 50,378,205 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,378,205 | ' | ' | ' | ' | ' |
Equity Method Investment Accumulated Income Loss From Foreign Currency Translation Adjustment Net Of Tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,183,753 | ' | ' | ' | ' | ' |
Merger Agreement Number Of Shares Issued For Each Original Share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.6842 | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 |
Merger Agreement, Exercise Price Of Warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revised Economic Benefits, Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.00% | ' | ' | ' |
Revised Payments To Acquire Interest In Joint Venture | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 55,600,000 | ' | ' | ' | ' | ' | ' | ' |
Guaranteed Return On Equity Method Investment Percentage Minimum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8.00% | ' | ' | ' |
Transfer Of Interest In Joint Venture | ' | ' | ' | ' | ' | ' | ' | ' | 49.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity Method Investment Retention Amount | ' | ' | ' | ' | ' | ' | 318,193 | 2,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Face Amount | ' | ' | ' | ' | 484,500 | 25,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity Method Investment, Aggregate Cost | 8,138,675 | 8,138,675 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Framework Agreement, Term | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '20 years | ' | ' | ' | ' | '30 years | '30 years | ' | ' | ' | ' |
Equity Method Investment, Agreed Consideration | ' | ' | ' | ' | ' | ' | $59,451,471 | 374,140,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $59,451,471 | 374,140,000 | ' | ' | ' | ' |
Summary_of_Significant_Account3
Summary of Significant Accounting Policies (Details) | 12 Months Ended |
Dec. 31, 2012 | |
Furniture, fixtures and office equipments [Member] | ' |
Property, Plant and Equipment, Useful Life | '5 years |
Motor vehicles [Member] | Minimum [Member] | ' |
Property, Plant and Equipment, Useful Life | '4 years |
Motor vehicles [Member] | Maximum [Member] | ' |
Property, Plant and Equipment, Useful Life | '10 years |
Building Improvements [Member] | Minimum [Member] | ' |
Property, Plant and Equipment, Useful Life | '20 years |
Building Improvements [Member] | Maximum [Member] | ' |
Property, Plant and Equipment, Useful Life | '40 years |
Summary_of_Significant_Account4
Summary of Significant Accounting Policies (Details 1) | 12 Months Ended | ||
Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Foreign Currency Exchange Rate, Translation (In RMB) | 6.2855 | 6.3009 | 6.6227 |
Foreign Currency Exchange Rate Translation Average Rate (In RMB) | 6.2932 | 6.4618 | 6.7256 |
Summary_of_Significant_Account5
Summary of Significant Accounting Policies (Details Textual) (USD $) | 12 Months Ended | ||
Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Period Of Amortization Of Financing Costs | '6 years | ' | ' |
Amortization of Financing Costs | $1,300,671 | $343,272 | $343,272 |
Stock_Based_Compensation_Detai
Stock Based Compensation (Details) | 12 Months Ended |
Dec. 31, 2012 | |
Risk free interest rate, Minimum | 1.32% |
Risk free interest rate, Maximum | 1.49% |
Volatility Rate, Minimum | 163.46% |
Volatility Rate, Maximum | 170.57% |
Dividend yield | 0.00% |
Expected option life | '10 years |
Stock_Based_Compensation_Detai1
Stock Based Compensation (Details 1) (USD $) | 1 Months Ended | 0 Months Ended | 12 Months Ended | ||
Dec. 20, 2009 | Oct. 09, 2009 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Stock Options outstanding at beginning of year | ' | ' | 2,650,000 | 2,810,000 | 2,810,000 |
Stock Options, Granted | 1,460,000 | 1,350,000 | 0 | 0 | 0 |
Stock Options, Cancelled | ' | ' | 0 | -160,000 | 0 |
Stock Options outstanding at end of year | ' | ' | 2,650,000 | 2,650,000 | 2,810,000 |
Stock Options exercisable at end of year | ' | ' | 2,650,000 | 2,650,000 | 2,810,000 |
Stock Options available for issuance | ' | ' | 523,333 | 523,333 | 523,333 |
Weighted average exercise price, Options outstanding at beginning of year (in dollars per share) | ' | ' | $2.07 | $2.07 | $2.07 |
Weighted average exercise price, Granted (in dollars per share) | $1.83 | $2.34 | $0 | $0 | $0 |
Weighted average exercise price, Cancelled (in dollars per share) | ' | ' | $0 | $0 | $0 |
Weighted average exercise price, Options outstanding at end of year (in dollars per share) | ' | ' | $2.07 | $2.07 | $2.07 |
Stock_Based_Compensation_Detai2
Stock Based Compensation (Details Textual) (USD $) | 1 Months Ended | 0 Months Ended | 12 Months Ended | |||
Dec. 20, 2009 | Oct. 09, 2009 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Apr. 30, 2008 | |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | ' | ' | ' | ' | ' | 3,333,333 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 1,460,000 | 1,350,000 | 0 | 0 | 0 | ' |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $1.83 | $2.34 | $0 | $0 | $0 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $2,260,874 | $2,727,755 | ' | ' | ' | ' |
Share-based Compensation, Total | ' | ' | $1,428,847 | $1,662,876 | $1,679,368 | ' |
Prepaid_Expenses_and_Advances_1
Prepaid Expenses and Advances (Details) (USD $) | Dec. 31, 2012 | Dec. 31, 2011 |
Advanced payments | $3,715 | $60,356 |
Total | $3,715 | $60,356 |
Property_Plant_and_Equipment_N2
Property, Plant and Equipment, Net (Details) (USD $) | Dec. 31, 2012 | Dec. 31, 2011 |
At cost: | ' | ' |
Furniture, fixtures and office equipment | $57,371 | $56,755 |
Motor vehicles | 58,198 | 58,055 |
Building improvements | 20,619 | 20,568 |
Total | 136,188 | 135,378 |
Less: accumulated depreciation | -132,406 | -113,652 |
Net book value | $3,782 | $21,726 |
Property_Plant_and_Equipment_N3
Property, Plant and Equipment, Net (Details Textual) (USD $) | 12 Months Ended | ||
Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Depreciation | $18,452 | $120,556 | $68,128 |
Investment_in_operating_joint_2
Investment in operating joint venture (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Unlisted equity investment, at cost | $8,138,675 | $8,138,675 | ' |
Share of loss and other comprehensive loss, net of dividend received | -12,946,118 | -12,946,118 | ' |
Loan advances | 65,746,777 | 65,746,777 | ' |
Equity Method Investment Before Impairment And Disposal | 60,939,334 | 60,939,334 | ' |
Less: Forfeiture of investment fund | -754,979 | -754,979 | ' |
Provision for impairment on investment | 0 | -9,806,150 | 0 |
Disposal of investment | -50,378,205 | 0 | ' |
Equity Method Investments | $0 | $50,378,205 | ' |
Investment_in_operating_joint_3
Investment in operating joint venture (Details Textual) | 12 Months Ended | 63 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | ||||||
Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2012 | Oct. 01, 2007 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2008 | Dec. 31, 2012 | Dec. 31, 2012 | Jun. 16, 2008 | |
USD ($) | USD ($) | USD ($) | Binzhou Broadcasting [Member] | Binzhou Broadcasting [Member] | Binzhou SOE [Member] | Binzhou SOE [Member] | Hubei Chutian [Member] | Hubei Chutian [Member] | Hubei Chutian [Member] | Hubei Chutian [Member] | |
USD ($) | USD ($) | CNY | USD ($) | USD ($) | CNY | ||||||
Equity Method Investment, Ownership Percentage | ' | ' | ' | 51.00% | 49.00% | ' | ' | ' | ' | ' | 49.00% |
Payments to Acquire Interest in Joint Venture | $0 | $0 | $6,657,839 | $14,000,000 | ' | ' | ' | $60,400,000 | ' | ' | ' |
Accrued Capital Contribution Payable In Joint Venture | ' | ' | ' | 16,000,000 | ' | ' | ' | ' | ' | ' | ' |
Penalty Amount For Not Settling Capital Contribution | ' | ' | ' | ' | ' | 754,979 | 5,000,000 | ' | ' | ' | ' |
Provision For Impairment On Investment | 0 | 9,806,150 | 0 | 9,806,150 | ' | ' | ' | ' | ' | ' | ' |
Equity Method Investment, Amount Sold | 50,378,205 | 0 | ' | ' | ' | ' | ' | ' | 50,378,205 | ' | ' |
Equity Method Investment Accumulated Income Loss From Foreign Currency Translation Adjustment Net Of Tax | ' | ' | ' | ' | ' | ' | ' | ' | 1,183,753 | ' | ' |
Equity Method Investment, Realized Gain (Loss) on Disposal | 7,889,513 | 0 | 0 | ' | ' | ' | ' | ' | 7,889,513 | ' | ' |
Equity Method Investment, Agreed Consideration | ' | ' | ' | ' | ' | ' | ' | ' | $59,451,471 | 374,140,000 | ' |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
PRC | ' | ' | ' |
- current income tax | $11 | $1,015,951 | $975,712 |
- deferred income tax | 0 | 0 | 0 |
Total | $11 | $1,015,951 | $975,712 |
Income_Taxes_Details_1
Income Taxes (Details 1) (USD $) | 12 Months Ended | ||
Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Loss before income taxes | ($5,988,833) | ($19,720,981) | ($13,431,975) |
Tax calculated at the domestic tax rate of 25% | -1,497,208 | -4,930,245 | -3,357,994 |
Tax effect of expenses not deductible for tax purposes | 1,641,239 | 5,334,201 | 2,271,844 |
Tax effect of share of profit and loss of operating joint ventures | 0 | 612,001 | 2,061,968 |
Tax effect of non-taxable income | -144,020 | -6 | -106 |
Income tax expense | $11 | $1,015,951 | $975,712 |
Income_Taxes_Details_Textual
Income Taxes (Details Textual) | 12 Months Ended | ||||
Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2012 | Dec. 31, 2008 | |
HONG KONG | HONG KONG | HONG KONG | PRC [Member] | PRC [Member] | |
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Percent | 16.50% | 16.50% | 16.50% | ' | ' |
Enterprise Income Tax Rate | ' | ' | ' | 25.00% | 33.00% |
Withholding Tax Rate | ' | ' | ' | 10.00% | ' |
Other_Current_Liabilities_Deta
Other Current Liabilities (Details) (USD $) | Dec. 31, 2012 | Dec. 31, 2011 |
Other payables | $400,279 | $403,598 |
Accrued expenses | 178,587 | 335,511 |
Accrued salaries and welfare | 291,291 | 333,974 |
Provision for taxation - PRC | 2,338,539 | 2,332,823 |
Accrued interest | 2,144,626 | 2,804,169 |
Total | $5,353,322 | $6,210,075 |
Promissory_note_Details_Textua
Promissory note (Details Textual) (USD $) | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||
Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2009 | Dec. 31, 2007 | Dec. 31, 2007 | Dec. 31, 2010 | Dec. 31, 2008 | Dec. 31, 2007 | Sep. 30, 2007 | Dec. 31, 2012 | Dec. 31, 2009 | Dec. 31, 2009 | Dec. 31, 2012 | Dec. 31, 2011 | Apr. 01, 2011 | Dec. 31, 2011 | Jul. 15, 2011 | |
Bridge Loan [Member] | Preferred Class A [Member] | Series A Preferred Stock [Member] | Promissory Notes [Member] | Promissory Notes [Member] | Promissory Notes [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Promissory Note One [Member] | Promissory Note One [Member] | Promissory Note One [Member] | Promissory Note Two [Member] | Promissory Note Two [Member] | |||||
Series A Preferred Stock [Member] | ||||||||||||||||||
Line of Credit Facility, Amount Outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | $19,990,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Value, New Issues | ' | ' | 1,092,052 | ' | ' | 766,680 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Issuance of Preferred Stock and Preference Stock | ' | ' | ' | ' | 20,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Interest Rate During Period | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock, Shares, Issued | 14,595,326 | 13,693,780 | ' | ' | ' | ' | ' | ' | 650,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization, Total | ' | ' | ' | ' | ' | ' | ' | 2,383,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest Expense, Debt | 51,084 | 18,557 | 0 | ' | ' | ' | ' | 1,359,000 | ' | ' | 434,701 | ' | ' | 51,084 | 1,681 | ' | 16,876 | ' |
Interest Expense, Total | 10,844,031 | 6,639,531 | 4,211,707 | ' | ' | ' | ' | 3,742,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repaid Percentage Of Promissory Notes | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Face Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,500,000 | ' | ' | ' | 27,500 | ' | 389,651 |
Debt Instrument, Maturity Date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8-Oct-15 | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | ' | ' | 8.00% | ' | 8.00% | ' |
Preferred Stock, Shares Issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15,397,204 | ' | ' | ' | ' | ' |
Proceeds from (Repayments of) Notes Payable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11,000,000 | ' | ' | ' | ' | ' | ' |
Extinguishment of Debt, Gain (Loss), Net of Tax | ' | ' | ' | $5,658,140 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12.00% | ' | 12.00% | ' |
Convertible_notes_Details_Text
Convertible notes (Details Textual) (USD $) | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||
Dec. 31, 2008 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2009 | 9-May-08 | Dec. 31, 2009 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2008 | Dec. 31, 2009 | 9-May-08 | 9-May-08 | Dec. 31, 2008 | Dec. 31, 2008 | Dec. 31, 2008 | Dec. 31, 2009 | Dec. 31, 2009 | |
Incentive Shares [Member] | Series A Convertible Preferred Stock [Member] | Series A Convertible Preferred Stock [Member] | Convertible Debt [Member] | Convertible Debt [Member] | Convertible Debt [Member] | Convertible Debt [Member] | Zero Coupon Note [Member] | First Anniversary [Member] | Second Anniversary [Member] | Promissory Note Three [Member] | Promissory Note Three [Member] | |||||||
Incentive Shares [Member] | Series A Convertible Preferred Stock [Member] | |||||||||||||||||
Debt Instrument, Face Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $43,175,000 | ' | ' | ' | ' | ' | ' |
Common Stock, Shares, Issued | ' | 14,595,326 | 13,693,780 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,524,994 | ' | ' | ' | ' | ' |
Proceeds From Issuance Of Long Term Debt Gross | 30,000,000 | ' | ' | ' | ' | ' | 9,683,712 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Issuance of Long-term Debt, Total | 25,793,283 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument Cancellation Of Principle Amount And Accrued Interest | ' | ' | ' | ' | ' | 4,206,717 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9.99% | ' | ' | ' | ' | 5.00% | ' |
Debt Instrument Maturity Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 43,175,000 | ' | ' | ' | ' |
Debt Instrument, Unamortized Discount | 26,490,956 | ' | ' | ' | ' | 31,401,503 | ' | ' | ' | ' | ' | ' | ' | 13,175,000 | ' | ' | ' | ' |
Debt Instrument, Maturity Date | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9-May-11 | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock, Par or Stated Value Per Share | ' | $0.00 | $0.00 | ' | ' | ' | ' | ' | ' | $0.00 | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Convertible, Conversion Price | ' | ' | ' | ' | ' | ' | ' | ' | ' | $9.50 | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible Notes Additional Incentive Stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | 603,282 | ' | ' | ' | ' | 124,994 | 299,997 | ' | ' |
Percentage Of Notes Principal Outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 78.75% | ' | ' | ' | ' | ' | ' | ' |
Percentage Of Notes Redeemable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' |
Additional Debt Instrument Unamortized Discount | ' | ' | ' | ' | ' | 8,542,791 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible Notes Payable, Total | 16,684,044 | ' | ' | ' | 20,316,288 | 11,773,497 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization of Debt Discount (Premium) | 4,910,547 | ' | ' | ' | ' | ' | ' | ' | ' | 232,663 | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Fee Amount | 150,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 150,000 | 200,000 | ' | ' |
Percentage Of Cash On Purchase Price Of Notes | 7.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Issuance Cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,868,960 | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred Finance Costs, Noncurrent, Net | ' | 0 | 1,300,671 | ' | ' | ' | ' | ' | ' | 1,265,678 | ' | ' | ' | ' | ' | ' | ' | ' |
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,033,015 | ' | ' | ' | ' | ' | ' | ' | ' |
Secured Debt | ' | 0 | 16,159,035 | 16,159,035 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18,000,000 | ' |
Preferred Stock, Shares Issued | ' | ' | ' | ' | ' | ' | ' | 50,338,385 | 50,338,385 | ' | ' | ' | ' | ' | ' | ' | ' | 50,402,082 |
Debt, Current, Total | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 23,000,000 | ' |
Extinguishment of Debt, Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $34,005,326 | ' |
Unsecured_notes_Details
Unsecured notes (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Unsecured note issued, Balance at Beginning of Period | $4,218,128 | $4,218,128 | ' |
Less: Repayment | -4,218,128 | 0 | 0 |
Unsecured note issued, Balance at end of Period | 0 | 4,218,128 | 4,218,128 |
Less: Current portion | 0 | -4,218,128 | ' |
Long-term portion | $0 | $0 | ' |
Unsecured_notes_Details_Textua
Unsecured notes (Details Textual) (USD $) | 12 Months Ended | ||||||
Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2012 | Dec. 31, 2010 | Dec. 31, 2009 | Dec. 31, 2009 | |
Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | ||||
Series A Preferred Stock [Member] | |||||||
Proceeds from Issuance of Unsecured Debt | ' | ' | ' | ' | ' | $5,500,000 | ' |
Debt Instrument, Maturity Date | ' | ' | ' | ' | ' | 8-Oct-15 | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | ' | 5.00% | ' |
Preferred Stock, Shares Issued | ' | ' | ' | ' | ' | ' | 15,397,204 |
Stockholders Equity, Reverse Stock Split | ' | ' | ' | ' | '1 for 3 | ' | ' |
Debt Instrument, Frequency of Periodic Payment | ' | ' | ' | ' | '6 months | ' | ' |
Debt Instrument, Date of First Required Payment | ' | ' | 15-Oct-12 | ' | 15-Oct-12 | ' | ' |
Debt Instrument, Convertible, Stock Price Trigger | ' | ' | ' | ' | $0.85 | ' | ' |
Debt Instrument, Convertible, Threshold Trading Days | ' | ' | ' | ' | 30 | ' | ' |
Debt Instrument, Convertible, If-converted Value in Excess of Principal | ' | ' | ' | ' | 500,000 | ' | ' |
Interest Expense, Debt | $51,084 | $18,557 | $0 | $434,701 | ' | ' | ' |
Secured_notes_Details
Secured notes (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Secured note issued, Balance at Beginning of Period | $16,159,035 | $16,159,035 | ' |
Less: Repayment | -16,159,035 | 0 | 0 |
Secured note issued, Balance at end of Period | 0 | 16,159,035 | 16,159,035 |
Less: Current portion | 0 | -16,159,035 | ' |
Long-term portion | $0 | $0 | ' |
Secured_notes_Details_Textual
Secured notes (Details Textual) (USD $) | 12 Months Ended | |||||
Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2012 | Dec. 31, 2010 | Dec. 31, 2009 | |
Secured Debt [Member] | Secured Debt [Member] | Secured Debt [Member] | ||||
Proceeds from Issuance of Secured Debt | ' | ' | ' | ' | ' | $18,000,000 |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | ' | 5.00% |
Debt Instrument, Date of First Required Payment | ' | ' | 15-Oct-12 | ' | ' | ' |
Preferred Stock, Shares Issued | ' | ' | ' | ' | 50,402,082 | ' |
Debt Instrument, Convertible, Conversion Price | ' | ' | ' | $0.85 | ' | ' |
Debt Instrument, Convertible, If-converted Value in Excess of Principal | ' | ' | ' | 500,000 | ' | ' |
Interest Expense, Total | $10,844,031 | $6,639,531 | $4,211,707 | $1,640,284 | ' | ' |
Debt Instrument, Maturity Date | ' | ' | ' | ' | ' | 8-Oct-16 |
Stockholders Equity, Reverse Stock Split | ' | ' | ' | ' | '1 for 3 | ' |
Debt Instrument, Frequency of Periodic Payment | ' | ' | ' | ' | '6 months | ' |
Debt Instrument, Convertible, Threshold Trading Days | ' | ' | ' | ' | 30 | ' |
Senior_secured_notes_Details_T
Senior secured notes (Details Textual) (USD $) | 12 Months Ended | |||||
Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2009 | Mar. 01, 2010 | Oct. 09, 2009 | |
Senior Notes, Current | $0 | $14,182,704 | ' | ' | ' | ' |
Secured Debt | 0 | 16,159,035 | 16,159,035 | ' | ' | ' |
Repayments of Senior Debt, Total | 25,683,910 | 0 | 0 | ' | ' | ' |
Accretion Expense | 11,673,530 | 0 | 0 | ' | ' | ' |
Amortization of Financing Costs | 1,300,671 | 343,272 | 343,272 | ' | ' | ' |
Debt Instrument, Date of First Required Payment | ' | ' | 15-Oct-12 | ' | ' | ' |
Series B Preferred Stock [Member] | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Shares, New Issues | ' | ' | 0 | ' | ' | ' |
New Notes [Member] | ' | ' | ' | ' | ' | ' |
Senior Notes, Current | ' | ' | ' | ' | ' | 33,000,000 |
Debt Instrument, Maturity Date | ' | ' | ' | 8-Oct-15 | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | 12.00% | ' | ' |
Stockholders Equity, Reverse Stock Split | ' | ' | '1 for 3 | ' | ' | ' |
Debt Instrument, Repurchase Amount | 13,860,000 | ' | ' | ' | ' | ' |
Secured Debt | ' | ' | ' | ' | 19,140,000 | ' |
Line of Credit Facility, Amount Outstanding | ' | ' | 7,466,470 | ' | ' | ' |
Repayments of Senior Debt, Total | 25,683,910 | ' | ' | ' | ' | ' |
Repayments Of Senior Debt, Principal Portion | 19,140,000 | ' | ' | ' | ' | ' |
Accretion Expense | 11,673,530 | ' | ' | ' | ' | ' |
Repayments Of Senior Debt, Interest Portion | 6,543,910 | ' | ' | ' | ' | ' |
Debt Instrument, Frequency of Periodic Payment | '6 months | ' | ' | ' | ' | ' |
Amortization of Financing Costs | 1,300,671 | 343,271 | ' | ' | ' | ' |
Debt Instrument, Date of First Required Payment | 16-Apr-13 | ' | ' | ' | ' | ' |
Debt Issuance Cost | 3,197,205 | ' | ' | ' | ' | ' |
Additional Paid in Capital, Preferred Stock | 1,130,990 | ' | ' | ' | ' | ' |
Deferred Finance Costs, Net | 2,066,215 | ' | ' | ' | ' | ' |
Debt Instrument, Term | '6 years | ' | ' | ' | ' | ' |
New Notes [Member] | Series B Preferred Stock [Member] | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Shares, New Issues | ' | ' | ' | 23,158,080 | ' | ' |
Debt Conversion, Original Debt, Amount | ' | ' | $11,673,530 | ' | ' | ' |
Shareholders_Equity_Details_Te
Shareholdersb Equity (Details Textual) (USD $) | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||
Dec. 31, 2008 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2008 | Apr. 30, 2008 | Dec. 31, 2008 | Apr. 30, 2008 | Dec. 31, 2008 | Dec. 31, 2008 | Dec. 31, 2009 | Dec. 31, 2008 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2009 | Dec. 31, 2012 | Dec. 31, 2011 | Oct. 31, 2009 | Oct. 31, 2009 | Dec. 31, 2011 | Dec. 31, 2010 | |
previous shareholders of China Cablecom Holdings [Member] | previous shareholders of China Cablecom Holdings [Member] | previous shareholders of Jaguar [Member] | previous shareholders of Jaguar [Member] | Convertible Debt [Member] | Convertible Debt [Member] | Broker [Member] | Executive Chairman [Member] | Series B Convertible Preferred Stock [Member] | Series B Convertible Preferred Stock [Member] | Series B Convertible Preferred Stock [Member] | Series A Convertible Preferred Stock [Member] | Series A Convertible Preferred Stock [Member] | Series A Convertible Preferred Stock [Member] | Series A Convertible Preferred Stock [Member] | Common Stock [Member] | Common Stock [Member] | ||||
Incentive Shares [Member] | Incentive Shares [Member] | previous Promissory notes holders [Member] | Previous Convertible note holders [Member] | |||||||||||||||||
Common Stock, Par or Stated Value Per Share | ' | $0.00 | $0.00 | ' | $0.00 | ' | $0.00 | $0.00 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants and Rights Outstanding | $49,100 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Issuance of Warrants | $245,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred Stock, Shares Issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13,140,459 | 13,140,459 | 23,158,080 | 50,338,385 | 50,338,385 | 15,397,204 | 50,402,082 | ' | ' |
Preferred Stock, Par or Stated Value Per Share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ' | ' |
Stock Issued During Period, Shares, Acquisitions | ' | ' | ' | 2,066,680 | ' | 5,716,357 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Shares, Conversion of Convertible Securities | ' | ' | ' | ' | ' | ' | ' | ' | 1,524,994 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,320,539 | 4,959,865 |
Stock Issued During Period, Shares, Issued for Services | ' | ' | ' | ' | ' | ' | ' | ' | ' | 250,000 | 320,000 | ' | ' | ' | ' | ' | ' | ' | ' | 225,000 |
Warrants_Details
Warrants (Details) | Dec. 31, 2012 |
Number of Warrants Issued | 2,115,385 |
Warrants Exercise Price | 0.858 |
Warrants Expiration Date | 10-Aug-14 |
Related_Party_Transactions_Det
Related Party Transactions (Details Textual) (USD $) | 12 Months Ended | |
Dec. 31, 2012 | Dec. 31, 2011 | |
Stock Issued During Period, Value, Other | $114,163 | ' |
Loans and Leases Receivable, Related Parties | 1,322,090 | 0 |
Common Stock [Member] | ' | ' |
Stock Issued During Period, Shares, Other | 901,546 | ' |
Stock Issued During Period, Value, Other | $1,352 | ' |
Operating_Risk_Details_Textual
Operating Risk (Details Textual) | 12 Months Ended |
Dec. 31, 2012 | |
Dividend, Percentage of Profits, After Tax, Maximum | 85.00% |