Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF STOCKHOLDERS EQUITY (DEFICIT)

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CONSOLIDATED STATEMENTS OF STOCKHOLDERS EQUITY (DEFICIT) (USD $)
Series B
Common stock
Additional Paid in Capital
Accumulated Deficit
Accumulated Other Comprehensive Loss
Non- controlling Interests
Total
Stockholders' Equity at Dec. 31, 2010 $ 13 $ 270,464 $ 23,580,630 $ (26,933,430) $ (2,195) $ 4,241,945 $ 1,157,427
Shares, Outstanding at Dec. 31, 2010 13,000 270,464,478          
Issuance of common stock, value   12,708 500,417       513,125
Issuance of common stock, shares   12,708,334          
Contributions from noncontrolling interests           5,031,410 5,031,410
Exercise of Warrants, value   1,890 54,810       56,700
Exercise of Warrants, shares   1,890,000         1,890,000
Share-based compensation from issuance of options and compensation-based warrants     124,771       124,771
Accrual of preferential return for the noncontrolling interests           (1,454,934) (1,454,934)
Foreign currency translation gain (loss)         (19,801) (1,668,620) (1,688,421)
Net Income (loss)       271,136   (1,050,254) (779,118)
Stockholders' Equity at Dec. 31, 2011 13 285,062 24,260,628 (26,662,294) (21,996) 5,099,547 2,960,960
Shares, Outstanding at Dec. 31, 2011 13,000 285,062,812          
Contributions from noncontrolling interests           5,620,435 5,620,435
Share-based compensation from issuance of options and compensation-based warrants     86,015       86,015
Accrual of preferential return for the noncontrolling interests           (2,055,904) (2,055,904)
Foreign currency translation gain (loss)         (34,125) 869,388 835,263
Issuance of common stock for cash, value   8,621 241,379       250,000
Issuance of common stock for cash, shares   8,620,690          
Net Income (loss)       63,287   (3,339,202) (3,275,915)
Stockholders' Equity at Dec. 31, 2012 $ 13 $ 293,683 $ 24,588,022 $ (26,599,007) $ (56,121) $ 6,194,264 $ 4,420,854
Shares, Outstanding at Dec. 31, 2012 13,000 293,683,502