DISCONTINUED OPERATION (Tables)

9 Months Ended

Sep. 30, 2013

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block]

(a)

The following tabulation presents the calculation of gain from the disposal of the three subsidiaries:

	Valuation of		Buyer’s
	Disposition		Acquisition Price		Gain/(Loss)
Jinzhou Gas	$	3,217,742	$	3,043,930	$	(173,812)
Shenzhou Gas		1,357,326		1,312,914		(44,412)
Xinji Gas		1,334,980		2,681,980		1,347,000
Sishui Gas		474,723		-		(474,723)
	$	6,384,771	$	7,038,824	$	654,053

Schedule Of Disposal Group Including Discontinuing Operations Gains [Table Text Block]

(b)

The following tabulation summarizes the operational results of the four disposal subsidiaries for the period ended June 8, 2011 and December 31, 2012, which was also accounted as income from discontinued operations net of tax in the statement of income.

	Condensed Income Statements
		Jinzhou Gas		Shenzhou Gas		Xinji Gas		Sishui Gas		Total
Revenue	$	359,787	$	277,453	$	9,569	$	-	$	646,809
Cost of revenue		217,313		224,412		8,224		-		449,949
Gross profit		142,473		53,041		1,346		-		196,860

Operating expenses		18,246		16,009		35,138		-		69,393
Operating income		124,227		37,032		(33,792)		-		127,467
Other income/(expenses)		(241)		(226)		(3,218)		-		(3,685)
Earnings before tax		123,986		36,806		(37,010)		-		123,782
										-
Income tax		(6,197)		(11,167)		(114)		-		(17,477)

Net income	$	117,789	$	25,640	$	(37,124)	$	-	$	106,305

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

+ References+ Details

Sino Gas International Holdings, Inc. 10-Q/A