|
Consolidated Statements of Cash Flows(Unaudited) (USD $)
|
12 Months Ended |
|
Dec. 31, 2011
|
Dec. 31, 2010
|
| Cash flows from operating activities |
|
|
| Net loss |
$ (288,546) |
$ (2,384,990) |
| Loss for the period from discontinued operations |
206,835 |
2,453,382 |
| Adjustments to reconcile net loss to net cash provided by operating activities: |
|
|
| Write down in value of liabilities |
(53,778) |
0 |
| Interest expenses accrual |
44,987 |
45,459 |
| Changes in assets and liabilities: |
|
|
| Accounts payable and accruals |
21,667 |
(175,079) |
| Net cash used in operating activities from continuing operation |
(68,835) |
(61,228) |
| Net cash generated from /(used in) operating activities from discontinued operations |
110,171 |
(530,877) |
| Cash flow from investing activities from discontinued operations |
|
|
| Net cash used in investing activities from discontinued operations |
0 |
(99,559) |
| Cash flow from financing activities |
|
|
| Debts redemption |
(29,628) |
(271,000) |
| Additional paid Up Capital |
0 |
949,143 |
| Non-cash financing activities |
|
|
| Common stock issued to retire debts |
0 |
664 |
| Net cash (used in)/generated from financing activities from continuing operation |
(29,628) |
678,807 |
| Effects of exchange rate on the balance of cash held in foreign currency |
(11,708) |
12,857 |
| Net change in cash |
0 |
0 |
| Cash, beginning |
0 |
0 |
| Cash, ending |
$ 0 |
$ 0 |