Equity Method Investments
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Jun. 30, 2012
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Equity Method Investments |
6.
Equity Method Investments. Our investment in Betazone, which is our significant unconsolidated subsidiary,
is accounted for using the equity method of accounting. Summarized
financial information for our investment in Betazone assuming 100% ownership interest is as
follows:
In
2011, the Company’s share of Betazones losses became equal in amount to the carrying value of its investment in
Betazone. Accordingly, the Company suspended the equity method of accounting for its investment and no additional
losses were charged to operations. The Company’s unrecorded share of losses for the six months ended June 30, 2012
totaled $76,465.
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