” prc regulations prohibit direct foreign ownership of business entities providing internet content , or icp services in the prc , and restrict foreign ownership of business entities engaging in the advertising business . in october 2008 , a series of contractual arrangements ( the “ contractual agreements ” or the “ vie agreements ) were 42 entered between rise king wfoe and business opportunity online ( beijing ) network technology co. , ltd. ( “ business opportunity online ” ) , beijing cnet online advertising co. , ltd. ( “ beijing cnet online ” ) ( collectively the “ prc operating entities ” ) and its common individual owners ( the “ prc shareholders ” or the “ control group ” ) . the contractual agreements allowed china net bvi through rise king wfoe to , among other things , secure significant rights to influence the prc operating entities ' business operations , policies and management , approve all matters requiring shareholder approval , and receive 100 % of the income earned by the prc operating entities . in return , rise king wfoe provides consulting services to the prc operating entities . in addition , to ensure that the prc operating entities and the prc shareholders perform their obligations under the contractual arrangements , the prc shareholders have pledged all of their equity interests in the prc operating entities to rise king wfoe . they have also entered into an option agreement with rise king wfoe which provides that at such time as when the current restrictions under prc law on foreign ownership of chinese companies engaging in the internet content , information services or advertising business in china are lifted , rise king wfoe may exercise its option to purchase the equity interests in the prc operating entities directly . at the time the above contractual agreements were entered into , the sole registered shareholder of rise king bvi was mr. yang li , who owned 10,000 common stock of rise king bvi , which constituted all of the issued and outstanding shares of rise king bvi . mr. yang li entered into slow-walk agreements with each of the control group individuals . pursuant to the slow-walk agreements , upon the satisfaction of certain conditions , the control group individuals had the option to purchase the 10,000 shares of rise king bvi ( 4,600 by mr. handong cheng , 3,600 by mr. xuanfu liu and 1,800 by ms. li sun , acting as a nominee for mr. zhige zhang ) held by mr. yang li , at a purchase price of us $ 1 per share ( the par value of rise king bvi 's common stock ) . under the terms of the slow-walk agreement , the control group will had the right to purchase the shares as follows : ( 1 ) one-third of the shares when china net bvi and its prc subsidiaries and affiliates ( “ the group ” ) will generate at least rmb 100,000,000 of the gross revenue for twelve months commencing on january 1 , 2009 and ending on december 31 , 2009 ( the “ performance period i ” ) ; ( 2 ) one-third of the shares when the group will generate at least rmb 60,000,000 of the gross revenue for six months commencing on january 1 , 2010 and ending on june 30 , 2010 ( the “ performance period ii ) ; ( 3 ) one-third of the shares when the group generates at least rmb 60,000,000 of the gross revenue for six months commencing on july 1 , 2010 and ending on december 31 , 2010 ( the “ performance period iii ” ) . each control group individual had the right to purchase one-third of the total number of shares that he or she was eligible to purchase under the slow-walk agreement upon the satisfaction of each condition described above . the control group individuals also entered an entrustment agreement with rise king bvi , pursuant to which , based on the 55 % equity interest held in the group , rise king bvi entrusted the control group to manage the group companies by irrevocably authorizing the control group to act on behalf of rise king bvi , as the exclusive agents and attorneys with respect to all matters concerning rise king bvi 's shareholding , during the term of this agreement . the control group also agreed and confirmed that he or she would act in concert with one another when exercising the rights authorized to them in this agreement . the entrustment period commenced on the execution date of the agreement and was effective for a period of ten years , until its termination , as discussed below . as described above , each of mssrs . handong cheng , and xuanfu liu and ms. li sun entered into share transfer agreements ( slow-walk agreement ) with mr. yang li , the sole shareholder of rise king bvi , which beneficially owns an aggregate of 7,434,940 shares of the company 's common stock , ( the “ subject shares ” ) . on march 30 , 2011 , pursuant to the terms of the share transfer agreement , ms. li sun transferred her right to acquire 18 % of the shares of rise king bvi under the share transfer agreement to mr. zhige zhang , the chief financial officer of the company . on march 30 , 2011 , each of mssrs . handong cheng , xuanfu liu and zhige zhang ( the “ prc persons ” ) exercised their right to purchase the outstanding stock of rise king bvi . on the same date , the entrustment agreement originally entered into among rise king bvi and the control group was terminated . as a result of these transactions , the ownership of rise king bvi was transferred from mr. yang li to the prc persons . story_separator_special_tag under the equity method of accounting , an investee company 's accounts are not reflected within our consolidated balance sheets and statements of income and comprehensive income ; however , our share of the earnings or losses of the investee company is reflected in the caption “ share of earnings ( losses ) in equity investment affiliates ” in the consolidated statements of income and comprehensive income . our carrying value ( including advance to the investees ) in equity method investee companies is reflected in the caption “ investment in and advance to equity investment affiliates ” in our consolidated balance sheets . when our carrying value in an equity method investee company is reduced to zero , no further losses are recorded in our consolidated financial statements unless we guaranteed obligations of the investee company or have committed additional funding . when the investee company subsequently reports income , we will not record its share of such income until it equals the amount of its share of losses not previously recognized . goodwill goodwill represents the excess of the purchase price over the fair value of the identifiable assets and liabilities acquired as a result of acquisitions of interests in our subsidiaries . goodwill is not depreciated or amortized but is tested for impairment at the reporting unit level at least on an annual basis , and between annual tests when an event occurs or circumstances change that could indicate that the asset might be impaired . the test consists of two steps . first , identify potential impairment by comparing the fair value of the reporting unit to its carrying amount , including goodwill . if the fair value of the reporting unit is greater than its carrying amount , goodwill is not considered impaired . second , if there is impairment identified in the first step , an impairment loss is recognized for any excess of the carrying amount of the reporting unit 's goodwill over the implied fair value of goodwill . the implied fair value of goodwill is determined by allocating the fair value of the reporting unit in a manner similar to a purchase price allocation , in accordance with topic 805 , “ business combinations . ” application of a goodwill impairment test requires significant management judgment , including the identification of reporting units , assigning assets and liabilities to reporting units , assigning goodwill to reporting units , and determining the fair value of each reporting unit . the judgment in estimating the fair value of reporting units 47 includes estimating future cash flows , determining appropriate discount rates and making other assumptions . changes in these estimates and assumptions could materially affect the determination of fair value for each reporting unit . deconsolidation we accounted for deconsolidation of subsidiaries in accordance with asc topic 810 “ consolidation ” . in accordance with asc topic 810-10-40-5 , the parent shall account for the deconsolidation of a subsidiary by recognizing a gain or loss in net income attributable to the parent , measured as the difference between : a. the aggregate of all of the following : 1. the fair value of any consideration received ; 2. the fair value of any retained noncontrolling investment in the former subsidiary at the date the subsidiary is deconsolidated ; 3. the carrying amount of any noncontrolling interest in the former subsidiary ( including any accumulated other comprehensive income attributable to the noncontrolling interest ) at the date the subsidiary is deconsolidated . b. the carrying amount of the former subsidiary 's assets and liabilities . changes in a parent 's ownership interest while the parent retains its controlling financial interest in its subsidiary we accounted for changes in a parent 's ownership interest while the parent retains its controlling financial interest in its subsidiary in accordance with asc topic 810 “ consolidation ” , subtopic 10 , which requires the transaction be accounted for as equity transactions ( investments by owners and distributions to owners acting in their capacity as owners ) . therefore , no gain or loss shall be recognized in consolidated net income or comprehensive income . the carrying amount of the noncontrolling interest shall be adjusted to reflect the change in its ownership interest in the subsidiary . any difference between the fair value of the consideration received or paid and the amount by which the noncontrolling interest is adjusted shall be recognized in equity attributable to the parent and reallocated the subsidiary 's accumulated comprehensive income , if any , among the parent and the noncontrolling interest through an adjustment to the parent 's equity . revenue recognition our revenue recognition policies are in compliance with asc topic 605. in accordance with asc topic 605 , revenues are recognized when all four of the following criteria are met : ( i ) persuasive evidence of an arrangement exists , ( ii ) the service has been rendered , ( iii ) the fees are fixed or determinable , and ( iv ) collectability is reasonably assured . sales include revenues from reselling of advertising time purchased from tv stations , internet advertising and providing related value added technical services , reselling of internet advertising spaces and other advertisement related resources . no revenue from advertising-for-advertising barter transactions was recognized because the transactions did not meet the criteria for recognition in asc topic 605 , subtopic 20. advertising contracts establish the fixed price and advertising services to be provided . pursuant to advertising contracts , we provide advertisement placements in different formats , including but not limited to banners , links , logos , buttons , rich media and content integration . revenue is recognized ratably over the period the advertising is provided and , as such , we consider the services to have been delivered . we treat all elements of advertising contracts as a single unit of accounting for revenue recognition purposes . value added technical services are

net cash used in investing activities : for the year ended december 31 , 2011 , our net cash used in investing activities included the following transactions : ( 1 ) we paid approximately us $ 9.7 million in connection with the acquisitions incurred during the year , including the acquisitions of a 100 % equity interest of quanzhou zhi yuan and a 51 % equity interest of quanzhou tian xi shun he in january 2011 , the acquisition of the remaining 49 % equity interest in quanzhou tian xi shun he in june 2011 and the acquisition of a 51 % equity interest in sou yi lian mei in december 2011 ; ( 2 ) total cash acquired from the above acquisitions recorded as cash inflow from investing activities during the year was approximately us $ 0.3 million , ( 3 ) we paid approximately us $ 1.7 million to our equity investment affiliates during the year , including an additional us $ 1.5 million working capital loan to beijing yang guang in the first quarter of 2011 and an approximately us $ 0.2 million additional cash investment to shenzhen mingshan in the third quarter of 2011 ; ( 4 ) from august to december 2011 , after we disposed our investment in beijing yang guang , we collected approximately us $ 8.9 million in the aggregate for ( i ) the cash consideration of the disposal of the 49 % equity interest in beijing yang guang ; ( ii ) our pro-rata share of earnings generated from beijing yang guang during the period when we held the 49 % equity interest in it ; and ( iii ) all of the outstanding working capital loans lent to beijing yang guang in 2010 and 2011 ; ( 5 ) cash effect of deconsolidation of shenzhen mingshan and zhao shang ke hubei recorded as cash outflow from investing activities during the year was approximately us $ 1.7 million , which represented the cash balance of the deconsolidated subsidiaries as of their respective deconsolidation dates ; ( 6 ) we also invested approximately us $ 0.7 million in fixed assets and approximately us $ 1.4 million in intangible assets , which investments were primarily related to the cloud-computing based software technologies purchased during


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```net cash used in investing activities : for the year ended december 31 , 2011 , our net cash used in investing activities included the following transactions : ( 1 ) we paid approximately us $ 9.7 million in connection with the acquisitions incurred during the year , including the acquisitions of a 100 % equity interest of quanzhou zhi yuan and a 51 % equity interest of quanzhou tian xi shun he in january 2011 , the acquisition of the remaining 49 % equity interest in quanzhou tian xi shun he in june 2011 and the acquisition of a 51 % equity interest in sou yi lian mei in december 2011 ; ( 2 ) total cash acquired from the above acquisitions recorded as cash inflow from investing activities during the year was approximately us $ 0.3 million , ( 3 ) we paid approximately us $ 1.7 million to our equity investment affiliates during the year , including an additional us $ 1.5 million working capital loan to beijing yang guang in the first quarter of 2011 and an approximately us $ 0.2 million additional cash investment to shenzhen mingshan in the third quarter of 2011 ; ( 4 ) from august to december 2011 , after we disposed our investment in beijing yang guang , we collected approximately us $ 8.9 million in the aggregate for ( i ) the cash consideration of the disposal of the 49 % equity interest in beijing yang guang ; ( ii ) our pro-rata share of earnings generated from beijing yang guang during the period when we held the 49 % equity interest in it ; and ( iii ) all of the outstanding working capital loans lent to beijing yang guang in 2010 and 2011 ; ( 5 ) cash effect of deconsolidation of shenzhen mingshan and zhao shang ke hubei recorded as cash outflow from investing activities during the year was approximately us $ 1.7 million , which represented the cash balance of the deconsolidated subsidiaries as of their respective deconsolidation dates ; ( 6 ) we also invested approximately us $ 0.7 million in fixed assets and approximately us $ 1.4 million in intangible assets , which investments were primarily related to the cloud-computing based software technologies purchased during
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 Suspicious Activity Report : ” prc regulations prohibit direct foreign ownership of business entities providing internet content , or icp services in the prc , and restrict foreign ownership of business entities engaging in the advertising business . in october 2008 , a series of contractual arrangements ( the “ contractual agreements ” or the “ vie agreements ) were 42 entered between rise king wfoe and business opportunity online ( beijing ) network technology co. , ltd. ( “ business opportunity online ” ) , beijing cnet online advertising co. , ltd. ( “ beijing cnet online ” ) ( collectively the “ prc operating entities ” ) and its common individual owners ( the “ prc shareholders ” or the “ control group ” ) . the contractual agreements allowed china net bvi through rise king wfoe to , among other things , secure significant rights to influence the prc operating entities ' business operations , policies and management , approve all matters requiring shareholder approval , and receive 100 % of the income earned by the prc operating entities . in return , rise king wfoe provides consulting services to the prc operating entities . in addition , to ensure that the prc operating entities and the prc shareholders perform their obligations under the contractual arrangements , the prc shareholders have pledged all of their equity interests in the prc operating entities to rise king wfoe . they have also entered into an option agreement with rise king wfoe which provides that at such time as when the current restrictions under prc law on foreign ownership of chinese companies engaging in the internet content , information services or advertising business in china are lifted , rise king wfoe may exercise its option to purchase the equity interests in the prc operating entities directly . at the time the above contractual agreements were entered into , the sole registered shareholder of rise king bvi was mr. yang li , who owned 10,000 common stock of rise king bvi , which constituted all of the issued and outstanding shares of rise king bvi . mr. yang li entered into slow-walk agreements with each of the control group individuals . pursuant to the slow-walk agreements , upon the satisfaction of certain conditions , the control group individuals had the option to purchase the 10,000 shares of rise king bvi ( 4,600 by mr. handong cheng , 3,600 by mr. xuanfu liu and 1,800 by ms. li sun , acting as a nominee for mr. zhige zhang ) held by mr. yang li , at a purchase price of us $ 1 per share ( the par value of rise king bvi 's common stock ) . under the terms of the slow-walk agreement , the control group will had the right to purchase the shares as follows : ( 1 ) one-third of the shares when china net bvi and its prc subsidiaries and affiliates ( “ the group ” ) will generate at least rmb 100,000,000 of the gross revenue for twelve months commencing on january 1 , 2009 and ending on december 31 , 2009 ( the “ performance period i ” ) ; ( 2 ) one-third of the shares when the group will generate at least rmb 60,000,000 of the gross revenue for six months commencing on january 1 , 2010 and ending on june 30 , 2010 ( the “ performance period ii ) ; ( 3 ) one-third of the shares when the group generates at least rmb 60,000,000 of the gross revenue for six months commencing on july 1 , 2010 and ending on december 31 , 2010 ( the “ performance period iii ” ) . each control group individual had the right to purchase one-third of the total number of shares that he or she was eligible to purchase under the slow-walk agreement upon the satisfaction of each condition described above . the control group individuals also entered an entrustment agreement with rise king bvi , pursuant to which , based on the 55 % equity interest held in the group , rise king bvi entrusted the control group to manage the group companies by irrevocably authorizing the control group to act on behalf of rise king bvi , as the exclusive agents and attorneys with respect to all matters concerning rise king bvi 's shareholding , during the term of this agreement . the control group also agreed and confirmed that he or she would act in concert with one another when exercising the rights authorized to them in this agreement . the entrustment period commenced on the execution date of the agreement and was effective for a period of ten years , until its termination , as discussed below . as described above , each of mssrs . handong cheng , and xuanfu liu and ms. li sun entered into share transfer agreements ( slow-walk agreement ) with mr. yang li , the sole shareholder of rise king bvi , which beneficially owns an aggregate of 7,434,940 shares of the company 's common stock , ( the “ subject shares ” ) . on march 30 , 2011 , pursuant to the terms of the share transfer agreement , ms. li sun transferred her right to acquire 18 % of the shares of rise king bvi under the share transfer agreement to mr. zhige zhang , the chief financial officer of the company . on march 30 , 2011 , each of mssrs . handong cheng , xuanfu liu and zhige zhang ( the “ prc persons ” ) exercised their right to purchase the outstanding stock of rise king bvi . on the same date , the entrustment agreement originally entered into among rise king bvi and the control group was terminated . as a result of these transactions , the ownership of rise king bvi was transferred from mr. yang li to the prc persons . story_separator_special_tag under the equity method of accounting , an investee company 's accounts are not reflected within our consolidated balance sheets and statements of income and comprehensive income ; however , our share of the earnings or losses of the investee company is reflected in the caption “ share of earnings ( losses ) in equity investment affiliates ” in the consolidated statements of income and comprehensive income . our carrying value ( including advance to the investees ) in equity method investee companies is reflected in the caption “ investment in and advance to equity investment affiliates ” in our consolidated balance sheets . when our carrying value in an equity method investee company is reduced to zero , no further losses are recorded in our consolidated financial statements unless we guaranteed obligations of the investee company or have committed additional funding . when the investee company subsequently reports income , we will not record its share of such income until it equals the amount of its share of losses not previously recognized . goodwill goodwill represents the excess of the purchase price over the fair value of the identifiable assets and liabilities acquired as a result of acquisitions of interests in our subsidiaries . goodwill is not depreciated or amortized but is tested for impairment at the reporting unit level at least on an annual basis , and between annual tests when an event occurs or circumstances change that could indicate that the asset might be impaired . the test consists of two steps . first , identify potential impairment by comparing the fair value of the reporting unit to its carrying amount , including goodwill . if the fair value of the reporting unit is greater than its carrying amount , goodwill is not considered impaired . second , if there is impairment identified in the first step , an impairment loss is recognized for any excess of the carrying amount of the reporting unit 's goodwill over the implied fair value of goodwill . the implied fair value of goodwill is determined by allocating the fair value of the reporting unit in a manner similar to a purchase price allocation , in accordance with topic 805 , “ business combinations . ” application of a goodwill impairment test requires significant management judgment , including the identification of reporting units , assigning assets and liabilities to reporting units , assigning goodwill to reporting units , and determining the fair value of each reporting unit . the judgment in estimating the fair value of reporting units 47 includes estimating future cash flows , determining appropriate discount rates and making other assumptions . changes in these estimates and assumptions could materially affect the determination of fair value for each reporting unit . deconsolidation we accounted for deconsolidation of subsidiaries in accordance with asc topic 810 “ consolidation ” . in accordance with asc topic 810-10-40-5 , the parent shall account for the deconsolidation of a subsidiary by recognizing a gain or loss in net income attributable to the parent , measured as the difference between : a. the aggregate of all of the following : 1. the fair value of any consideration received ; 2. the fair value of any retained noncontrolling investment in the former subsidiary at the date the subsidiary is deconsolidated ; 3. the carrying amount of any noncontrolling interest in the former subsidiary ( including any accumulated other comprehensive income attributable to the noncontrolling interest ) at the date the subsidiary is deconsolidated . b. the carrying amount of the former subsidiary 's assets and liabilities . changes in a parent 's ownership interest while the parent retains its controlling financial interest in its subsidiary we accounted for changes in a parent 's ownership interest while the parent retains its controlling financial interest in its subsidiary in accordance with asc topic 810 “ consolidation ” , subtopic 10 , which requires the transaction be accounted for as equity transactions ( investments by owners and distributions to owners acting in their capacity as owners ) . therefore , no gain or loss shall be recognized in consolidated net income or comprehensive income . the carrying amount of the noncontrolling interest shall be adjusted to reflect the change in its ownership interest in the subsidiary . any difference between the fair value of the consideration received or paid and the amount by which the noncontrolling interest is adjusted shall be recognized in equity attributable to the parent and reallocated the subsidiary 's accumulated comprehensive income , if any , among the parent and the noncontrolling interest through an adjustment to the parent 's equity . revenue recognition our revenue recognition policies are in compliance with asc topic 605. in accordance with asc topic 605 , revenues are recognized when all four of the following criteria are met : ( i ) persuasive evidence of an arrangement exists , ( ii ) the service has been rendered , ( iii ) the fees are fixed or determinable , and ( iv ) collectability is reasonably assured . sales include revenues from reselling of advertising time purchased from tv stations , internet advertising and providing related value added technical services , reselling of internet advertising spaces and other advertisement related resources . no revenue from advertising-for-advertising barter transactions was recognized because the transactions did not meet the criteria for recognition in asc topic 605 , subtopic 20. advertising contracts establish the fixed price and advertising services to be provided . pursuant to advertising contracts , we provide advertisement placements in different formats , including but not limited to banners , links , logos , buttons , rich media and content integration . revenue is recognized ratably over the period the advertising is provided and , as such , we consider the services to have been delivered . we treat all elements of advertising contracts as a single unit of accounting for revenue recognition purposes . value added technical services are

