Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS STOCKHOLDERS' EQUITY (DEFICIT) (Unaudited)

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CONDENSED CONSOLIDATED STATEMENTS STOCKHOLDERS' EQUITY (DEFICIT) (Unaudited) (USD $)
Series B
Common Stock
Additional Paid in Capital
Accumulated Deficit
Accumulated Other Comprehensive Loss
Non-controlling Interests
Total
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest 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 for services, shares    625,000 11,875          12,500
Issuance of common stock for services, value    625               
Contributions from noncontrolling interests                3,239,742 3,239,742
Exercise of Warrants, value    1,890 54,810          56,700
Exercise of Warrants, shares    1,890,000               
Share-based compensation from issuance of options and compensation-based warrants       66,355          66,355
Accrual of preferential return for the noncontrolling interests                (654,706) (654,706)
Foreign currency translation gain (loss)             (3,557) 394,847 391,291
Net Income (Loss)          (453,385)    (684,422) (1,137,807)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest at Jun. 30, 2011 13 272,979 23,713,670 (27,386,815) (5,752) 6,537,406 3,131,502
Shares, Outstanding at Jun. 30, 2011 13,000 272,979,478               
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest 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                3,258,090 3,258,090
Share-based compensation from issuance of options and compensation-based warrants       53,850          53,850
Accrual of preferential return for the noncontrolling interests                (947,501) (947,501)
Foreign currency translation gain (loss)             4,642 68,848 73,490
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)          (43,919)    (781,019) (824,938)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest at Jun. 30, 2012 $ 13 $ 293,683 $ 24,555,857 $ (26,706,213) $ (17,354) $ 6,697,965 $ 4,823,951
Shares, Outstanding at Jun. 30, 2012 13,000 293,683,502