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Document and Entity Information	6 Months Ended
Document and Entity Information	Jun. 30, 2013 shares
Document and Entity Information [Abstract]
Entity Registrant Name	Anchor Funding Services, Inc.
Entity Central Index Key	0001397047
Trading Symbol	afng
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding	18,634,369
Document Type	10-Q
Document Period End Date	Jun. 30, 2013
Amendment Flag	false
Document Fiscal Year Focus	2013
Document Fiscal Period Focus	Q2

CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2013	Dec. 31, 2012
CURRENT ASSETS
Cash	$ 745,622	$ 610,439
Retained interest in purchased accounts receivable, net	7,057,649	7,019,463
Due from client	229,899
Earned but uncollected fee income	211,516	168,805
Prepaid expenses and other	80,593	100,998
Total current assets	8,325,279	7,899,705
PROPERTY AND EQUIPMENT, net	14,844	14,257
Intangible assets - patent costs	20,339
Security deposits	6,023	6,023
Total other assets	26,362	6,023
Total assets	8,366,485	7,919,985
CURRENT LIABILITIES
Due to financial institution	5,424,619	4,977,763
Accounts payable	59,921	86,772
Accrued payroll and related taxes	49,654	69,338
Accrued expenses	25,382	59,252
Collected but unearned fee income	21,682	28,642
Total current liabilities	5,581,258	5,221,767
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY
PREFERRED STOCK, net of issuance costs of $1,209,383	671,409	671,409
COMMON STOCK	1,863	1,863
ADDITIONAL PAID IN CAPITAL	7,545,982	7,496,693
ACCUMULATED DEFICIT	(5,434,027)	(5,471,747)
Total Stockholders' Equity	2,785,227	2,698,218
Total Liabilities and Stockholder's Equity	$ 8,366,485	$ 7,919,985

CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($)	Jun. 30, 2013	Dec. 31, 2012
Statement Of Financial Position [Abstract]
Issuance cost of convertible preferred stock (in dollars)	$ 1,209,383	$ 1,209,383

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Income Statement [Abstract]
FINANCE REVENUES	$ 703,602	$ 712,749	$ 1,306,209	$ 1,255,245
INTEREST EXPENSE - financial institutions	(108,032)	(143,499)	(210,413)	(233,822)
INTEREST EXPENSE-related party	0	(4,110)	0	(4,110)
NET FINANCE REVENUES	595,570	565,140	1,095,796	1,017,313
(PROVISION) RECOVERY FOR CREDIT LOSSES	(105,000)	14,104	(105,000)	14,104
FINANCE REVENUES, NET OF INTEREST EXPENSE AND CREDIT LOSSES	490,570	579,244	990,796	1,031,417
OPERATING EXPENSES	505,766	410,644	953,076	826,048
INCOME (LOSS) BEFORE INCOME TAXES	(15,196)	168,600	37,720	205,369
INCOME TAXES
NET INCOME (LOSS)	$ (15,196)	$ 168,600	$ 37,720	$ 205,369
NET INCOME (LOSS) PER SHARE
Basic (in dollars per share)	$ 0.00	$ 0.01	$ 0.00	$ 0.01
Dilutive (in dollars per share)	$ 0.00	$ 0.01	$ 0.00	$ 0.01
WEIGHTED AVERAGE SHARES
Basic (in shares)	18,634,369	17,763,618	18,634,369	17,763,618
Dilutive (in shares)	20,739,580	20,516,132	20,710,206	20,516,132

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - 6 months ended Jun. 30, 2013 - USD ($)	Preferred Stock	Common Stock	Additional Paid in Capital	Accumulated Deficit	Total
Balance at Dec. 31, 2012	$ 671,409	$ 1,863	$ 7,496,693	$ (5,471,747)	$ 2,698,218
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Provision for compensation expense related to issued stock options			47,373		47,373
Provision for compensation expense related to issued warrants			1,916		1,916
Net income				37,720	37,720
Balance at Jun. 30, 2013	$ 671,409	$ 1,863	$ 7,545,982	$ (5,434,027)	$ 2,785,227

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=6518256

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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Other Comprehensive Income
-URI http://asc.fasb.org/extlink&oid=6519514

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
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Reference 10: http://www.xbrl.org/2003/role/presentationRef
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+ Details

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 37,720	$ 205,369
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization	12,658	9,995
Compensation expense related to issuance of stock options	47,373	5,327
Compensation expense related to issuance of warrants	1,916	9,582
Allowance for uncollectible accounts	105,000	6,949
(Increase) in retained interest in purchased accounts receivable	(143,186)	(3,019,844)
(Increase) in due from client	(229,899)
(Increase) in earned but uncollected fee income	(42,711)	(45,084)
Decrease (increase) in prepaid expenses and other	20,405	(4,881)
(Decrease) increase in accounts payable	(26,851)	16,690
(Decrease) in accrued payroll and related taxes	(19,684)	(7,629)
(Decrease) in collected but not earned	(6,960)	(5,773)
(Decrease) increase in accrued expenses	(33,870)	3,765
Net cash used in operating activities	(278,089)	(2,825,534)
CASH FLOWS FROM INVESTING ACTIVITIES:
Patents costs	(20,339)
Purchases of property and equipment	(13,245)	(4,194)
Net cash used in investing activities	(33,584)	(4,194)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from financial institution, net	446,856	2,259,543
Proceeds from participant		683,729
Proceeds from promisory notes		400,000
Net cash provided by financing activities	446,856	3,343,272
INCREASE IN CASH	135,183	513,544
CASH, beginning of period	610,439	306,571
CASH, end of period	$ 745,622	$ 820,115

BACKGROUND AND DESCRIPTION OF BUSINESS

6 Months Ended

Jun. 30, 2013

Business Description and Basis Of Presentation [Abstract]

BACKGROUND AND DESCRIPTION OF BUSINESS

1.	BACKGROUND AND DESCRIPTION OF BUSINESS:

The consolidated financial statements include the accounts of Anchor Funding Services, Inc. (formerly BTHC XI, Inc.) and its wholly owned subsidiaries, Anchor Funding Services, LLC (“Anchor”) and FlexShopper, LLC (“FlexShopper”).

Anchor Funding Services, Inc. is a Delaware corporation. Anchor Funding Services, Inc. has no operations; substantially all operations of the Company are the responsibility of Anchor Funding Services, LLC.

Anchor Funding Services, LLC is a North Carolina limited liability company. Anchor Funding Services, LLC was formed for the purpose of providing factoring and back office services to businesses located throughout the United States of America.

FlexShopper, LLC is a North Carolina limited liability company. It was formed for the purpose of developing a business that will provide certain types of durable goods to consumers on a lease to own basis and also provide lease to own terms to consumers of third party retailers.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

6 Months Ended

Jun. 30, 2013

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

2.	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:

Principles of Consolidation - The accompanying consolidated financial statements include the accounts of Anchor Funding Services, Inc. and, its wholly owned subsidiaries, Anchor Funding Services, LLC and FlexShopper, LLC.

Estimates – The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America ("US GAAP") requires management to make estimates that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Revenue Recognition – The Company charges fees to its customers in one of two ways as follows:

1)	Fixed Transaction Fee. Fixed transaction fees are a fixed percentage of the purchased invoice and purchase order advance. This percentage does not change from the date the purchased invoice is funded until the date the purchased invoice is collected.

Variable Transaction Fee. Variable transaction fees are variable based on the length of time the purchased invoice and purchase order advance is outstanding. As specified in its contract with the client, the Company charges variable increasing percentages of the purchased invoice or purchase order advance as time elapses from the purchase date to the collection date.

For both Fixed and Variable Transaction fees, the Company recognizes revenue by using one of two methods depending on the type of customer. For new customers the Company recognizes revenue using the cost recovery method. For established customers the Company recognizes revenue using the accrual method.

Under the cost recovery method, all revenue is recognized upon collection of the entire amount of purchased accounts receivable.

The Company considers new customers to be accounts whose initial funding has been within the last three months or less. Management believes it needs three months of history to reasonably estimate a customer’s collection period and accrued revenues. If three months of history has a limited number of transactions, the cost recovery method will continue to be used until a reasonable revenue estimate can be made based on additional history. Once the Company obtains sufficient historical experience, it will begin using the accrual method to recognize revenue.

For established customers the Company uses the accrual method of accounting. The Company applies this method by multiplying the historical yield, for each customer, times the amount advanced on each purchased invoice outstanding for that customer, times the portion of a year that the advance is outstanding. The customers’ historical yield is based on the Company’s last six months of experience with the customer along with the Company’s experience in the customer’s industry, if applicable.

The amounts recorded as revenue under the accrual method described above are estimates. As purchased invoices and purchase order advances are collected, the Company records the appropriate adjustments to record the actual revenue earned on each purchased invoice and purchase order advance. Adjustments from the estimated revenue to the actual revenue have not been material.

Retained Interest in Purchased Accounts Receivable – Retained interest in purchased accounts receivable represents the gross amount of invoices purchased and advances on purchase orders from clients less amounts maintained in a reserve account. For factoring transactions, the Company purchases a customer’s accounts receivable and advances them a percentage of the invoice total. The difference between the purchase price and amount advanced is maintained in a reserve account. The reserve account is used to offset any potential losses the Company may have related to the purchased accounts receivable. For purchase order transactions the company advances and pays for 100% of the product’s cost.

The Company’s factoring and security agreements with their customers include various recourse provisions requiring the customers to repurchase accounts receivable if certain conditions, as defined in the factoring and security agreement, are met.

Senior management reviews the status of uncollected purchased accounts receivable and purchase order advances monthly to determine if any are uncollectible. The Company has a security interest in the accounts receivable and inventory purchased and, on a case-by-case basis, may have additional collateral. The Company files security interests in the property securing their advances. Access to this collateral is dependent upon the laws and regulations in each state where the security interest is filed. Additionally, the Company has varying types of personal guarantees from their customers relating to the purchased accounts receivable and purchase order advances.

Management considered approximately $185,449 of their June 30, 2013 and December 31, 2012 retained interest in purchased accounts receivable to be uncollectible.

Management believes the fair value of the retained interest in purchased accounts receivable approximates its recorded value because of the relatively short-term nature of the purchased receivable and the fact that the majority of these invoices have been subsequently collected. As of June 30, 2013, accounts receivable purchased over 90 days old and still accruing fees totaled approximately $151,400.

Intangible Assets - Intangible assets are stated at cost less any accumulated amortization and any provision for impairment. Patent costs are amortized by using the straight line method over the shorter of their legal (20 years) or useful lives from the time they are first available for use.

Advertising Costs – The Company charges advertising costs to expense as incurred. Total advertising costs were approximately $86,000 and $67,400 for the quarters ended June 30, 2013 and 2012, respectively, and $151,700 and $135,700 for the six months ended June 30, 2013 and June 30, 2012, respectively.

Earnings per Share (“EPS”) – Basic net income per share is computed by dividing the net income for the period by the weighted average number of common shares outstanding during the period. Dilutive earnings per share include the potential impact of dilutive securities, such as convertible preferred stock, stock options and stock warrants. The dilutive effect of stock options and warrants is computed using the treasury stock method, which assumes the repurchase of common shares at the average market price.

Under the treasury stock method, options and warrants will have a dilutive effect when the average price of common stock during the period exceeds the exercise price of options or warrants.

The following tables present a reconciliation of the components used to derive basic and diluted EPS for the periods indicated:


		2013									2012
					(Denominator)									(Denominator)
					Weighted-			Per						Weighted-			Per
		(Numerator)			Average			Share			(Numerator)			Average			Share
	Net Income (Loss)			Shares			Amount			Net Income			Shares			Amount
Three Months Ended June 30,
Basic EPS		$	(15,196)			18,634,369		$	0.00		$	168,600			17,763,618		$	0.01
Effect of Dilutive Securities – Options and
Convertible Preferred Stock			-			2,105,211			-			-			2,752,514			-
Diluted EPS		$	(15,196)			20,739,580		$	0.00		$	168,600			20,516,132		$	0.01

Six Months Ended June 30,
Basic EPS		$	37,720			18,634,369		$	0.00		$	205,369			17,763,618		$	0.01
Effect of Dilutive Securities – Options and
Convertible Preferred Stock			-			2,075,837			-			-			2,752,514			-
Diluted EPS		$	37,720			20,710,206		$	0.00		$	205,369			20,516,132		$	0.01

Stock Based Compensation - The fair value of transactions in which the Company exchanges its equity instruments for employee services (share-based payment transactions) is recognized as an expense in the financial statements as services are performed.

Compensation expense is determined by reference to the fair value of an award on the date of grant and is amortized on a straight-line basis over the vesting period. We have elected to use the Black-Scholes-Merton (BSM) pricing model to determine the fair value of all stock option awards.

See Note 9 for the impact on the operating results for the three months and six months ended June 30, 2013 and 2012.

Fair Value of Financial Instruments – The carrying value of cash equivalents, retained interest in purchased accounts receivable, due to financial institution, accounts payable and accrued liabilities approximates their fair value.

Cash and Cash Equivalents – Cash and cash equivalents consist primarily of highly liquid cash investment funds with original maturities of three months or less when acquired.

Income Taxes – Effective January 31, 2007, the Company became a “C” corporation for income tax purposes. In a “C” corporation income taxes are provided for the tax effects of transactions reported in the consolidated financial statements plus deferred income taxes related to the differences between financial statement and taxable income.

The primary differences between financial statement and taxable income for the Company are as follows:

· Expenses related to the issuance of equity instruments

· Use of the reserve method of accounting for bad debts

· Net operating loss carryforwards.

The deferred tax asset represents the future tax return consequences of utilizing these items. Deferred tax assets are reduced by a valuation reserve, when management is uncertain if the net deferred tax assets will ever be realized.

The Company applied the provisions of ASC 740-10-50, “Accounting For Uncertainty In Income Taxes”, which provides clarification related to the process associated with accounting for uncertain tax positions recognized in our financial statements. The Company applied this guidance to all its tax positions, including tax positions taken and those expected to be taken, under the transition provision of the interpretation. For the six months ended June 30, 2013 and 2012, the Company concluded that it had no material uncertain tax positions.

The Company classifies interest accrued on unrecognized tax benefits with interest expense. Penalties accrued on unrecognized tax benefits are classified with operating expenses.

Recent Accounting Pronouncements –

The FASB amended the Comprehensive Income topic of the ASC in February 2013. The amendment addresses reporting of amounts reclassified out of accumulated other comprehensive income. Specifically, the amendment does not change the current requirements for reporting net income or other comprehensive income in financial statements. However, the amendment does require an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. In addition, in certain circumstances an entity is required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income. The amendment will be effective for the Company on a prospective basis for reporting periods beginning after December 15, 2012. Early adoption is permitted. The Company adopted this guidance effective January 1, 2013, as required, and this adoption did not have a significant impact to our consolidated financial statements.

In February 2013, the FASB Issued ASU No. 2013-02, "Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income," which requires entities to present information about reclassification adjustments from accumulated other comprehensive income in their annual financial statements in a single note or on the face of the financial statements. We adopted this ASU on March 1, 2013 and it had no impact on our financial statements.

In February 2013, the FASB Issued ASU No. 2013-04, "Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation Is Fixed at the Reporting Date". ASU 2013-04 provides guidance for the recognition, measurement, and disclosure of obligations resulting from joint and several liability arrangements for obligations within the scope of this ASU, which is effective January 1, 2014. Upon adoption, we do not expect this ASU to impact our financial statements.

In July 2013, the FASB issued ASU 2013-11, "Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists, " which among other things, require an unrecognized tax benefit, or a portion of an unrecognized tax benefit, to be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, except as denoted within the ASU. The amendments in this ASU are effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. We are currently evaluating the impact on our financial statements with respect to ASU 2013-11.

Other accounting standards that have been issued or proposed by the FASB or other standards-setting bodies are not expected to have a material impact in the Company’s financial position, results of operations or cash flows.

RETAINED INTEREST IN PURCHASED ACCOUNTS RECEIVABLE

6 Months Ended

Jun. 30, 2013

Loans, Notes, Trade and Other Receivables Disclosure [Abstract]

RETAINED INTEREST IN PURCHASED ACCOUNTS RECEIVABLE

3.	RETAINED INTEREST IN PURCHASED ACCOUNTS RECEIVABLE:

Retained interest in purchased accounts receivable consists of the following:

	June 30, 2013			December 31, 2012
Purchased invoices	$	8,628,028		$	8,921,203
Purchase order advances		35,000			21,156
Reserve account		(1,419,930	)		(1,842,447	)
Allowance for uncollectible invoices		(185,449	)		(80,449	)
	$	7,057,649		$	7,019,463

Retained interest in purchased accounts receivable consists, excluding the allowance for uncollectible invoices, of United States companies in the following industries:

	June 30, 2013		December 31, 2012
Staffing	$	169,754	$	185,557
Transportation		1,586,863		1,773,290
Service		4,259,693		4,528,668
Manufacturing		256,011		612,397
Apparel		970,777		-
	$	7,243,098	$	7,099,912

Adjustments to the allowance for uncollectible invoices were as follows:


	For the six months ended June 30,
	2013		2012
Balance - beginning of period	$	80,449	$	17,500
Provision for credit losses		105,000		6,949
Write-offs		-		-
Balance - end of period	$	185,449	$	24,449

Total purchased invoices and purchase order advances were as follows:

	For the quarters ended June 30,				For the six months ended June 30,
	2013		2012		2013		2012
Purchased invoices	$	24,099,369	$	28,101,603	$	48,051,056	$	48,346,720
Purchase order advances		55,000		115,231		145,000		211,961
	$	24,154,369	$	28,216,834	$	48,196,056	$	48,558,681

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References + Details

DUE FROM CLIENT

6 Months Ended

Jun. 30, 2013

Due From Client [Abstract]

DUE FROM CLIENT

4.	DUE FROM CLIENT

As of June 30, 2013, the Company advanced a food service company $229,899 in excess of its accounts receivable. This amount was included in a subsequent invoice for completed services that were assigned to the Company. See Note 11. CONCENTRATIONS , Client Accounts.

PROPERTY AND EQUIPMENT

6 Months Ended

Jun. 30, 2013

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT

5.	PROPERTY AND EQUIPMENT:

Property and equipment consist of the following:

	Estimated
	Useful Lives	June 30, 2013			December 31, 2012
Furniture and fixtures	2-5 years	$	52,587		$	46,818
Computers and software	3-7 years		194,980			187,505
			247,567			234,323
Less: accumulated depreciation			(232,723	)		(220,066	)
		$	14,844		$	14,257

Depreciation expense was $8,495 and $4,983 for the quarters ended June 30, 2013 and 2012, respectively and $12,658 and $9,995 for the six months ended June 30, 2013 and 1012, respectively.

DUE TO FINANCIAL INSTITUTION

6 Months Ended

Jun. 30, 2013

Debt Disclosure [Abstract]

DUE TO FINANCIAL INSTITUTION

6.	DUE TO FINANCIAL INSTITUTION:

On November 8, 2011, Anchor entered into a Rediscount Credit Facility with a Commercial Bank that was effective November 30, 2011 and replaced its prior credit facility. The maximum amount that can be borrowed under the facility is $10 million and the Bank will advance up to 80% of Anchor's advances to its clients. Anchor pays interest on advances monthly at the 90 Day Libor Rate plus 6.25% and various other monthly fees as defined in the agreement. The agreement requires that Anchor maintain at all times a ratio of debt to tangible net worth of not more than four to one (4:1). As of June 30, 2013, the Company was in compliance. The agreement contains customary representations and warranties, events of default and limitations, among other provisions. The agreement is collateralized by a first lien on all Anchors' assets. The agreement’s anniversary date is November 30, 2013 and automatically renews each year for an additional year provided that the Company has not provided 60 days’ notice to the Bank in advance of the anniversary date. This facility contains certain standard covenants, representations and warranties for loans of this type. In the event that we fail to comply with the covenant(s) and the lender does not waive such non-compliance, we could be in default of our credit facility, which could subject us to penalty rates of interest and accelerate the maturity of the outstanding balances in addition to other legal remedies, including foreclosure on collateral. The Company’s President and CEO have provided validity guarantees to the Bank. Anchor owed this financial institution $5,424,619 as of June 30, 2013 and $4,977,763 as of December 31, 2012.

CAPITAL STRUCTURE

6 Months Ended

Jun. 30, 2013

Stockholders Equity Note [Abstract]

CAPITAL STRUCTURE

7.	CAPITAL STRUCTURE:

The Company’s capital structure consists of preferred and common stock as described below:

Preferred Stock – The Company is authorized to issue 10,000,000 shares of $.001 par value preferred stock. The Company’s Board of Directors determines the rights and preferences of its preferred stock.

On January 31, 2007, the Company filed a Certificate of Designation with the Secretary of State of Delaware. Effective with this filing, 2,000,000 preferred shares became Series 1 Convertible Preferred Stock. Series 1 Convertible Preferred Stock will rank senior to Common Stock.

Series 1 Convertible Preferred Stock is convertible into 5.1 shares of the Company’s Common Stock. The holder of the Series 1 Convertible Preferred Stock has the option to convert the shares to Common Stock at any time. Upon conversion all accumulated and unpaid dividends will be paid as additional shares of Common Stock.

The dividend rate on Series 1 Convertible Preferred Stock is 8%. Dividends are paid annually on December 31st in the form of additional Series 1 Convertible Preferred Stock unless the Board of Directors approves a cash dividend. Dividends on Series 1 Convertible Preferred Stock shall cease to accrue on the earlier of December 31, 2009, or on the date they are converted to Common Shares. Thereafter, the holders of Series 1 Convertible Preferred Stock have the same dividend rights as holders of Common Stock, as if the Series 1 Convertible Preferred Stock had been converted to Common Stock.

Common Stock – The Company is authorized to issue 65,000,000 shares of $.0001 par value Common Stock. Each share of Common Stock entitles the holder to one vote at all stockholder meetings. Dividends on Common Stock will be determined annually by the Company’s Board of Directors.

The changes in Series 1 Convertible Preferred Stock and Common Stock shares for the six months ended June 30, 2013 is summarized as follows:

	Series 1 Convertible		Common
	Preferred Stock		Stock
Balance, December 31, 2012		376,387		18,634,369
Preferred Stock Conversions		-		-
Common Stock Issuances		-		-
Balance June 30, 2013		376,387		18,634,369

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
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-Paragraph 1
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+ Details

RELATED PARTY TRANSACTION

6 Months Ended

Jun. 30, 2013

RELATED PARTY TRANSACTION

8.	RELATED PARTY TRANSACTION:

Promissory notes payable

On June 5, 2012, upon approval of the Board, Anchor entered into two Promissory Notes totaling $400,000, one with Morry Rubin and the other with a major shareholder of the company. Each Promissory Note was for $200,000, had a 90 day term, and earned interest (payable monthly) at 15% per annum. The Promissory Notes were to assist Anchor in providing factoring and purchase order funding facilities to some of its clients. The Promissory Notes were subordinate to and supplemented Anchor's $10 Million Rediscount Credit Facility with a Commercial Bank. Both promissory notes were paid on September 5, 2012. Anchor paid $0 and $4,110 of interest on these notes for the three months ended June 30, 2013 and 2012, respectively. Anchor paid $0 and $4,110 of interest on these notes for the six months ended June 30, 2013 and 2012, respectively.

Options granted to officers and directors.

On March 20, 2012, M. Rubin and B. Bernstein were each granted 10 year options to purchase 250,000 shares of common stock each for a total of 500,000 shares, with the options vesting over a period of 10 years. On May 17, 2013, the Board approved the accelerated vesting of these options such that they all became vested. Due to the anti-dilution provisions of our Series 1 Convertible Preferred Stock, this grant caused an adjustment of our preferred stock into common stock. Each share of Series 1 Preferred Stock is now convertible into 5.1 shares of the Company’s Common Stock. The holders of the Series 1 Convertible Preferred Stock have the option to convert the shares to Common Stock at any time. See Note 9.

In June 2012, Paul Healy was granted 10-year non-statutory stock options to purchase 180,000 shares of Anchor’s common stock exercisable at $.25 per share. The options vest one-third immediately and one-third on each of the successive anniversary dates from Mr. Healy joining the board until fully vested.

In June 2013, the Company granted the Chief Information Officer of FlexShopper, 10-year Incentive Stock Options to purchase 100,000 shares of Anchor’s Common Stock, exercisable at $.35 per share. The options vest one-third immediately, and one-third on each of the successive anniversary dates from the date the FlexShopper Chief Information Officer commenced work.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References + Details

EMPLOYMENT AND STOCK OPTION AGREEMENTS

6 Months Ended

Jun. 30, 2013

Employment and Stock Option Agreements [Abstract]

EMPLOYMENT AND STOCK OPTION AGREEMENTS

9.	EMPLOYMENT AND STOCK OPTION AGREEMENTS:

On January 31, 2007, the Board adopted our 2007 Omnibus Equity Compensation Plan (the “Plan”), with 2,100,000 common shares authorized for issuance under the Plan. In October 2009 the Company's stockholders approved an increase in the number of shares covered by the Plan to 4,200,000 shares.

The general purpose of the plan is to provide an incentive to the Company’s employees, directors and consultants by enabling them to share in the future growth of the business.

At closing of the exchange transaction described above, M. Rubin and Brad Bernstein (“B. Bernstein”), the President of the Company, entered into employment contracts and stock option agreements. Additionally, at closing two non-employee directors entered into stock option agreements.

The following summarizes M. Rubin’s employment agreement and stock options:

●	The employment agreement with M. Rubin currently retains his services as Co-chairman and Chief Executive Officer through January 31, 2014.

●

An annual salary of $1 until, the first day of the first month following such time as the Company, shall have, within any period beginning on January 1 and ending not more than 12 months thereafter, earned pre-tax net income exceeding $1,000,000, M. Rubin’s base salary shall be adjusted to an amount, to be mutually agreed upon between M. Rubin and the Company, reflecting the fair value of the services provided, and to be provided, by M. Rubin taking into account (i) his position, responsibilities and performance, (ii) the Company’s industry, size and performance, and (iii) other relevant factors. On August 8, 2013, the Board modified M. Rubin’s employment agreement and approved an annual salary of $125,000. M. Rubin is eligible to receive annual bonuses as determined by the Company’s compensation committee. M. Rubin shall be entitled to a monthly automobile allowance of $1,500.

●	10-year options to purchase 650,000 shares exercisable at $1.25 per share, pursuant to the Plan. All of the aforementioned options are fully vested.

The following summarizes B. Bernstein’s employment agreement and stock options:

●	The employment agreement with B. Bernstein currently retains his services as President through January 31, 2014.

●

An annual salary of $240,000. The Board may periodically review B. Bernstein’s base salary and may determine to increase (but not decrease) the base salary in accordance with such policies as the Company may hereafter adopt from time to time. The Board approved an annual bonus program for Mr. Bernstein commencing with the 2012 fiscal year and ending with the 2014 fiscal year. The annual bonus is equal to 5% of annual net income provided net income is equal to or greater than $200,000. The bonus is calculated on the Company’s audited US GAAP financial statements. B. Bernstein shall be entitled to a monthly automobile allowance of $1,000.

●	10-year options to purchase 950,000 shares exercisable at $1.25 per share, pursuant to the Plan. All of the aforementioned options are fully vested.

The following table summarizes information about stock options as of June 30, 2013:

Exercise		Number		Remaining	Number
Price		Outstanding		Contractual Life	Exercisable

$	1.25		1,605,000	4 years		1,605,000
$	1.00		45,000	6 years		33,750
$	0.62		500,000	6 years		500,000
$	0.17		500,000	9 years		500,000
$	0.35		100,000	10 years		33,333
$	0.25		180,000	9 years		120,000
			2,930,000			2,792,083

The Company measured the fair value of each option award on the date of grant using the Black Scholes option pricing model with the following assumptions:

Exercise price	$	.17 to $1.25
Term	10 years
Volatility	.39 to 2.50
Dividends		0%
Discount rate	0.05% to 4.75%

The fair value amounts recorded for these options in the statement of operations was $47,373 and $5,327 for the six months ended June 30, 2013 and 2012, respectively.

WARRANTS

6 Months Ended

Jun. 30, 2013

Warrants [Abstract]

WARRANTS

10.

WARRANTS:

In March, 2007, the placement agent was issued warrants to purchase 1,342,500 shares of the Company’s common stock. These warrants were due to expire on January 31, 2013 but were extended by the Company through January 31, 2014 on the condition that each warrant holder accept a new exercise price of $1.35 per share. The following information was input into BSM to compute a per warrant price of $.023:

Exercise price	$	1.35
Term	7 years
Volatility		40%
Dividends		0	%
Discount rate		.05	%

For the six months ended June 30, 2013 and 2012 the Company recorded compensation expense of $1,916 and $9,582 respectively, related to the issuance of these warrants.

On December 7, 2009, the Company received gross proceeds of $500,002 from the sale of 500,002 shares of common stock and ten year warrants to purchase 2,000,004 shares of common stock exercisable at $1.00 per share. The Black Scholes option pricing model was used to compute the fair value of the warrants.

The following table summarizes information about stock warrants as of June 30, 2013:

				Weighted Average
Exercise		Number		Remaining	Number
Price		Outstanding		Contractual Life	Exercisable

$	1.10		1,342,500	10 Months		1,342,500
$	1.00		2,000,004	7 years		2,000,004

CONCENTRATIONS

6 Months Ended

Jun. 30, 2013

Risks and Uncertainties [Abstract]

CONCENTRATIONS

11.	CONCENTRATIONS:

Revenues – The Company recorded revenues from United States companies in the following industries as follows:

Service

443,417 387,970 786,005 737,940

	For the three months ended June 30,				For the six months ended June 30,
	2013		2012		2013		2012
Apparel	$	23,226	$	59,388	$	22,521	$	61,182
Transportation		156,942		171,240		327,928		330,039
Staffing		18,965		17,798		30,571		46,545
Other		60,962		76,353		139,074		79,539
Publishing		90		-		110		-
	$	703,602	$	712,749	$	1,306,209	$	1,255,245

Major Customers – For the three months ended June 30, 2013, the Company’s largest customer by revenues was an IT Consulting Company which accounted for approximately 20.9% of its revenues. This customer sold its business in May 2013 and paid its obligations to the Company including a $75,000 early termination fee which is included in finance revenues for the three and six months ended June 30, 2013. This customer was also the Company’s largest customer for the six months ended June 30, 2013, accounting for approximately 15.0% of its revenues.

For the three months and six months ended June 30, 2012, the Company did not have a customer that accounted for 10% or more of its revenues.

Client Accounts - As of June 30, 2013, we have two clients that account for an aggregate of approximately 29.9% of our accounts receivable portfolio and three clients that account for approximately 28.5% and 22.7% of our revenues for the three and six months ended June 30, 2013, respectively. The transactions and balances with these clients as of and for the three and six months ended June 30, 2013, respectively, are summarized below:

	Percentage of Accounts Receivable		Percentage of Revenues for		Percentage of Revenues for
	Portfolio As of		the Three Months Ended		the Three Months Ended
Entity	June 30, 2013		June 30, 2013		June 30, 2013

Food Service Company in Missouri (1)		17.6%		4.3%		6.0%
Apparel Company in Florida		12.3%		3.3%		1.7%
IT Consultant in Maryland		-		20.9%		15.0%
		29.9%		28.5%		22.7%

(1)	Percentage calculation does not include $229,899 which is classified as “due from client” for this entity.

If these clients’ balances did not collect, the Company’s total potential loss would be $2,820,073; however, except for the Food Service Company in Missouri, the majority of these balances have been collected subsequent to June 30, 2013. As of June 30, 2013, the total amount due from the Food Service Company was approximately $1,650,500 of which $287,882 was subsequently collected. In July 2013, Anchor determined that the Food Service Company had misdirected certain payments due Anchor and Anchor ceased funding this Client. On August 8th, this client filed for Chapter II Bankruptcy. As of the date of this report, Anchor believes it has sufficient collateral and claims under its notice of assignment to recover all amounts due. This estimate could change as other facts and circumstances develop.

Cash – The Company places its cash and cash equivalents on deposit with financial institutions in the United States. The Federal Deposit Insurance Corporation (FDIC) provides coverage up to $250,000 per depositor at FDIC-insured depository institutions. During the six months ended June 30, 2013, the Company from time to time may have had amounts on deposit in excess of the insured limits.

SUPPLEMENTAL DISCLOSURES OF CASH FLOW

6 Months Ended

Jun. 30, 2013

Supplemental Cash Flow Elements [Abstract]

SUPPLEMENTAL DISCLOSURES OF CASH FLOW

12.

SUPPLEMENTAL DISCLOSURES OF CASH FLOW:

Cash paid for interest to a financial institution was $213,414 and $220,854 for the six months ended June 30, 2013 and 2012, respectively.

Non-cash financing and investing activities consisted of the following:

For the three and six months ending June 30, 2013

None

For the three and six months ending June 30, 2012

None

INCOME TAXES	6 Months Ended
INCOME TAXES	Jun. 30, 2013
Income Tax Disclosure [Abstract]
INCOME TAXES	13. INCOME TAXES: As of December 31, 2012, the Company had approximately $3.6 million of net operating loss carryforwards (“NOL”) for income tax purposes. The NOL’s expire in various years from 2022 through 2025. The Company’s use of operating loss carryforwards is subject to limitations imposed by the Internal Revenue Code. Management believes that the deferred tax assets as of June 30, 2013 do not satisfy the realization criteria and has recorded a valuation allowance for the entire net tax asset. By recording a valuation allowance for the entire amount of future tax benefits, the Company has not recognized a deferred tax benefit for income taxes in its statements of operations.

COMMITMENTS AND CONTINGENCIES

6 Months Ended

Jun. 30, 2013

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

14. COMMITMENTS AND CONTINGENCIES:

Lease Commitments

The Company has lease agreements for office space in Charlotte, NC, Boca Raton, FL and Medley, Florida. All lease agreements are with unrelated parties.

The Company has two Charlotte leases for adjoining space that expire May 31, 2014. The monthly rent for the combined space is approximately $2,340.

Beginning November 1, 2009, the company entered into a 24 month lease for office space in Boca Raton, FL, and on November 1, 2011 renewed for another two years. The monthly rental is approximately $1,413.

The Company has a lease for office space in Medley, FL, which expires on May 12, 2014. The monthly rental is approximately $800.

The rental expense for the six months ended June 30, 2013 and 2012 was approximately $28,586 and $21,880 respectively.

Contingencies

We are not a party to any pending material legal proceedings except as described below. To our knowledge, no governmental authority is contemplating commencing a legal proceeding in which we would be named as a party.

On October 22, 2010, the Company filed a complaint in the Superior Court of Stamford/Norwalk, Connecticut against the Administrators of the Estate of David Harvey (“Harvey”) to recoup a credit loss incurred by the Company’s former subsidiary, Brookridge Funding Services, LLC. Harvey was the owner of a Company that caused the credit loss and the Company is pursuing its rights under the personal guarantee that Harvey provided. The Complaint is demanding principal of approximately $485,000 plus interest and damages.

SUBSEQUENT EVENTS

6 Months Ended

Jun. 30, 2013

Subsequent Events [Abstract]

Subsequent Events [Text Block]

15.	SUBSEQUENT EVENTS

On August 1, 2013, the Company entered into a 39 month lease for additional office space in Boca Raton, FL to accommodate the FlexShopper business and its additional employees. The monthly rent is approximately $6,800.

On August 8, 2013, the Board modified M. Rubin’s employment agreement and approved an annual salary of $125,000.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

6 Months Ended

Jun. 30, 2013

Accounting Policies [Abstract]

Principles of Consolidation

Estimates

Revenue Recognition

Revenue Recognition – The Company charges fees to its customers in one of two ways as follows:

1)	Fixed Transaction Fee. Fixed transaction fees are a fixed percentage of the purchased invoice and purchase order advance. This percentage does not change from the date the purchased invoice is funded until the date the purchased invoice is collected.

Under the cost recovery method, all revenue is recognized upon collection of the entire amount of purchased accounts receivable.

Retained Interest in Purchased Accounts Receivable

Management considered approximately $185,449 of their June 30, 2013 and December 31, 2012 retained interest in purchased accounts receivable to be uncollectible.

Intangible Assets

Advertising Costs

Earnings per Share ("EPS")

Under the treasury stock method, options and warrants will have a dilutive effect when the average price of common stock during the period exceeds the exercise price of options or warrants.

The following tables present a reconciliation of the components used to derive basic and diluted EPS for the periods indicated:


	2013						2012
			(Denominator)						(Denominator)
			Weighted-		Per				Weighted-		Per
	(Numerator)		Average		Share		(Numerator)		Average		Share
	Net Income (Loss)		Shares		Amount		Net Income		Shares		Amount
Three Months Ended June 30,
Basic EPS	$	(15,196)		18,634,369	$	0.00	$	168,600		17,763,618	$	0.01
Effect of Dilutive Securities – Options and
Convertible Preferred Stock		-		2,105,211		-		-		2,752,514		-
Diluted EPS	$	(15,196)		20,739,580	$	0.00	$	168,600		20,516,132	$	0.01

Six Months Ended June 30,
Basic EPS	$	37,720		18,634,369	$	0.00	$	205,369		17,763,618	$	0.01
Effect of Dilutive Securities – Options and
Convertible Preferred Stock		-		2,075,837		-		-		2,752,514		-
Diluted EPS	$	37,720		20,710,206	$	0.00	$	205,369		20,516,132	$	0.01

Stock Based Compensation

See Note 9 for the impact on the operating results for the three months and six months ended June 30, 2013 and 2012.

Fair Value of Financial Instruments

Cash and Cash Equivalents

Cash and Cash Equivalents – Cash and cash equivalents consist primarily of highly liquid cash investment funds with original maturities of three months or less when acquired.

Income Taxes

The primary differences between financial statement and taxable income for the Company are as follows:

· Expenses related to the issuance of equity instruments

· Use of the reserve method of accounting for bad debts

· Net operating loss carryforwards.

The Company classifies interest accrued on unrecognized tax benefits with interest expense. Penalties accrued on unrecognized tax benefits are classified with operating expenses.

Recent Accounting Pronouncements

Recent Accounting Pronouncements –

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Jun. 30, 2013

Accounting Policies [Abstract]

Schedule of reconciliation of the components used to derive basic and diluted EPS

	2013						2012
			(Denominator)						(Denominator)
			Weighted-		Per				Weighted-		Per
	(Numerator)		Average		Share		(Numerator)		Average		Share
	Net Income (Loss)		Shares		Amount		Net Income		Shares		Amount
Three Months Ended June 30,
Basic EPS	$	(15,196)		18,634,369	$	0.00	$	168,600		17,763,618	$	0.01
Effect of Dilutive Securities – Options and
Convertible Preferred Stock		-		2,105,211		-		-		2,752,514		-
Diluted EPS	$	(15,196)		20,739,580	$	0.00	$	168,600		20,516,132	$	0.01

Six Months Ended June 30,
Basic EPS	$	37,720		18,634,369	$	0.00	$	205,369		17,763,618	$	0.01
Effect of Dilutive Securities – Options and
Convertible Preferred Stock		-		2,075,837		-		-		2,752,514		-
Diluted EPS	$	37,720		20,710,206	$	0.00	$	205,369		20,516,132	$	0.01

RETAINED INTEREST IN PURCHASED ACCOUNTS RECEIVABLE (Tables)

6 Months Ended

Jun. 30, 2013

Loans, Notes, Trade and Other Receivables Disclosure [Abstract]

Schedule of retained interest in purchased accounts receivable

	June 30, 2013			December 31, 2012
Purchased invoices	$	8,628,028		$	8,921,203
Purchase order advances		35,000			21,156
Reserve account		(1,419,930	)		(1,842,447	)
Allowance for uncollectible invoices		(185,449	)		(80,449	)
	$	7,057,649		$	7,019,463

Schedule of retained interest in purchased accounts receivable excluding allowance for uncollectible invoices

	June 30, 2013		December 31, 2012
Staffing	$	169,754	$	185,557
Transportation		1,586,863		1,773,290
Service		4,259,693		4,528,668
Manufacturing		256,011		612,397
Apparel		970,777		-
	$	7,243,098	$	7,099,912

Schedule of adjustments to allowance for uncollectible invoices

	For the six months ended June 30,
	2013		2012
Balance - beginning of period	$	80,449	$	17,500
Provision for credit losses		105,000		6,949
Write-offs		-		-
Balance - end of period	$	185,449	$	24,449

Schedule of purchased invoices and purchase order advances

	For the quarters ended June 30,				For the six months ended June 30,
	2013		2012		2013		2012
Purchased invoices	$	24,099,369	$	28,101,603	$	48,051,056	$	48,346,720
Purchase order advances		55,000		115,231		145,000		211,961
	$	24,154,369	$	28,216,834	$	48,196,056	$	48,558,681

PROPERTY AND EQUIPMENT (Tables)

6 Months Ended

Jun. 30, 2013

Property, Plant and Equipment [Abstract]

Schedule of property and equipment

	Useful Lives	June 30, 2013			December 31, 2012
Furniture and fixtures	2-5 years	$	52,587		$	46,818
Computers and software	3-7 years		194,980			187,505
			247,567			234,323
Less: accumulated depreciation			(232,723	)		(220,066
		$	14,844		$	14,257

CAPITAL STRUCTURE (Tables)

6 Months Ended

Jun. 30, 2013

Stockholders Equity Note [Abstract]

Schedule of conversions of convertible preferred stock and common stock

	Series 1 Convertible		Common
	Preferred Stock		Stock
Balance, December 31, 2012		376,387		18,634,369
Preferred Stock Conversions		-		-
Common Stock Issuances		-		-
Balance June 30, 2013		376,387		18,634,369

EMPLOYMENT AND STOCK OPTION AGREEMENTS (Tables)

6 Months Ended

Jun. 30, 2013

Employment and Stock Option Agreements [Abstract]

Schedule of information about stock options

Exercise		Number		Remaining	Number
Price		Outstanding		Contractual Life	Exercisable

$	1.25		1,605,000	4 years		1,605,000
$	1.00		45,000	6 years		33,750
$	0.62		500,000	6 years		500,000
$	0.17		500,000	9 years		500,000
$	0.35		100,000	10 years		33,333
$	0.25		180,000	9 years		120,000
			2,930,000			2,792,083

Schedule of option input into a Black Scholes option pricing model

Exercise price	$	.17 to $1.25
Term	10 years
Volatility	.39 to 2.50
Dividends		0%
Discount rate	0.05% to 4.75%

WARRANTS (Tables)

6 Months Ended

Jun. 30, 2013

Warrants [Abstract]

Schedule of warrants, valuation assumptions

Exercise price	$	1.35
Term	7 years
Volatility		40%
Dividends		0	%
Discount rate		.05	%

Schedule of stock warrants

				Weighted Average
Exercise		Number		Remaining	Number
Price		Outstanding		Contractual Life	Exercisable

$	1.10		1,342,500	10 Months		1,342,500
$	1.00		2,000,004	7 years		2,000,004

CONCENTRATIONS (Tables)

6 Months Ended

Jun. 30, 2013

Risks and Uncertainties [Abstract]

Schedule of revenue from different industries

	For the three months ended June 30,				For the six months ended June 30,
	2013		2012		2013		2012
Apparel	$	23,226	$	59,388	$	22,521	$	61,182
Transportation		156,942		171,240		327,928		330,039
Staffing		18,965		17,798		30,571		46,545
Service		443,417		387,970		786,005		737,940
Other		60,962		76,353		139,074		79,539
Publishing		90		-		110		-
	$	703,602	$	712,749	$	1,306,209	$	1,255,245

Schedule of revenue from different client

	Percentage of Accounts Receivable		Percentage of Revenues for		Percentage of Revenues for
	Portfolio As of		the Three Months Ended		the Three Months Ended
Entity	June 30, 2013		June 30, 2013		June 30, 2013

Food Service Company in Missouri (1)		17.6%		4.3%		6.0%
Apparel Company in Florida		12.3%		3.3%		1.7%
IT Consultant in Maryland		-		20.9%		15.0%
		29.9%		28.5%		22.7%

(1)	Percentage calculation does not include $229,899 which is classified as “due from client” for this entity.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Reconciliation of components used to derive basic and diluted EPS (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Accounting Policies [Abstract]
(Numerator) Net Income (Loss), Basic EPS	$ (15,196)	$ 168,600	$ 37,720	$ 205,369
(Numerator) Net Income (Loss), Effect of Dilutive Securities - Options and Convertible Preferred Stock
(Numerator) Net Income (Loss), Diluted EPS	$ (15,196)	$ 168,600	$ 37,720	$ 205,369
(Denominator) Weighted- Average Shares, Basic EPS	18,634,369	17,763,618	18,634,369	17,763,618
(Denominator) Weighted- Average Shares, Effect of Dilutive Securities - Options and Convertible Preferred Stock	2,105,211	2,752,514	2,075,837	2,752,514
(Denominator) Weighted- Average Shares, Diluted EPS	20,739,580	20,516,132	20,710,206	20,516,132
Per Share Amount, Basic EPS	$ 0.00	$ 0.01	$ 0.00	$ 0.01
Per Share Amount, Effect of Dilutive Securities - Options and Convertible Preferred Stock
Per Share Amount, Diluted EPS	$ 0.00	$ 0.01	$ 0.00	$ 0.01

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Detail Textuals) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012	Dec. 31, 2012	Dec. 31, 2011
Schedule of Finite-Lived Intangible Assets [Table]
Maximum percentage of advances on purchase order			100.00%
Uncollectible retained interest in purchased accounts receivable	$ 185,449	$ 24,449	$ 185,449	$ 24,449	$ 80,449	$ 17,500
Accounts receivable purchased over 90 days old	151,400		151,400
Total advertising costs	$ 86,000	$ 67,400	$ 151,700	$ 135,700
Amortization method			straight line method
Legal Useful life			20 years

RETAINED INTEREST IN PURCHASED ACCOUNTS RECEIVABLE - Retained interest in purchased accounts receivable (Details) - USD ($)	Jun. 30, 2013	Dec. 31, 2012	Jun. 30, 2012	Dec. 31, 2011
Loans, Notes, Trade and Other Receivables Disclosure [Abstract]
Purchased invoices	$ 8,628,028	$ 8,921,203
Purchase order advances	35,000	21,156
Reserve account	(1,419,930)	(1,842,447)
Allowance for uncollectible invoices	(185,449)	(80,449)	$ (24,449)	$ (17,500)
Retained interest in purchased accounts receivable, net	$ 7,057,649	$ 7,019,463

RETAINED INTEREST IN PURCHASED ACCOUNTS RECEIVABLE - Retained interest in purchased accounts receivable excluding allowance for uncollectible invoices (Details 1) - USD ($)	Jun. 30, 2013	Dec. 31, 2012
Accounts, Notes, Loans and Financing Receivable [Line Items]
Retained interest in purchased accounts receivable	$ 7,243,098	$ 7,099,912
Staffing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Retained interest in purchased accounts receivable	169,754	185,557
Transportation
Accounts, Notes, Loans and Financing Receivable [Line Items]
Retained interest in purchased accounts receivable	1,586,863	1,773,290
Service
Accounts, Notes, Loans and Financing Receivable [Line Items]
Retained interest in purchased accounts receivable	4,259,693	4,528,668
Manufacturing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Retained interest in purchased accounts receivable	256,011	612,397
Apparel
Accounts, Notes, Loans and Financing Receivable [Line Items]
Retained interest in purchased accounts receivable	$ 970,777

RETAINED INTEREST IN PURCHASED ACCOUNTS RECEIVABLE - Summary of Adjustments to allowance for uncollectible invoices (Details 2) - USD ($)	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012
Loans, Notes, Trade and Other Receivables Disclosure [Abstract]
Balance - beginning of peroid	$ 80,449	$ 17,500
Provision for credit losses	105,000	6,949
Write-offs
Balance - end of peroid	$ 185,449	$ 24,449

RETAINED INTEREST IN PURCHASED ACCOUNTS RECEIVABLE - Summary of purchased invoices and purchase order advances (Details 3) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Loans, Notes, Trade and Other Receivables Disclosure [Abstract]
Purchased invoices	$ 24,099,369	$ 28,101,603	$ 48,051,056	$ 48,346,720
Purchase order advances	55,000	115,231	145,000	211,961
Purchased invoices and purchase order advances, Total	$ 24,154,369	$ 28,216,834	$ 48,196,056	$ 48,558,681

DUE FROM CLIENT (Detail Textuals)	Jun. 30, 2013 USD ($)
Due From Client [Abstract]
Due from client	$ 229,899

PROPERTY AND EQUIPMENT - Summary of property and equipment (Details) - USD ($)	6 Months Ended
	Jun. 30, 2013	Dec. 31, 2012
Property, Plant and Equipment [Line Items]
Property and equipment, Gross	$ 247,567	$ 234,323
Less: accumulated depreciation	(232,723)	(220,066)
Property and equipment, net	14,844	14,257
Furniture and Fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, Gross	$ 52,587	46,818
Furniture and Fixtures \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	2 years
Furniture and Fixtures \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years
Computers and Software
Property, Plant and Equipment [Line Items]
Property and equipment, Gross	$ 194,980	$ 187,505
Computers and Software \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	3 years
Computers and Software \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	7 years

PROPERTY AND EQUIPMENT (Detail Textuals) - USD ($)	3 Months Ended		6 Months Ended
PROPERTY AND EQUIPMENT (Detail Textuals) - USD ($)	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 8,495	$ 4,983	$ 12,658	$ 9,995

DUE TO FINANCIAL INSTITUTION (Detail Textuals) - USD ($)	1 Months Ended
	Nov. 30, 2011	Jun. 30, 2013	Dec. 31, 2012
Line of Credit Facility [Line Items]
Due to financial institution		$ 5,424,619	$ 4,977,763
Commercial Bank \| Line of Credit
Line of Credit Facility [Line Items]
Maximum borrowed credit facility	$ 10,000,000
Percentage of advance under borrowed facility	80.00%
Description of variable rate basis	90 Day Libor Rate plus 6.25 percentage
Spread on variable rate	6.25%
Ratio of debt to tangible net worth	not more than four to one (4:1)
Notice period to bank	60 days

CAPITAL STRUCTURE - Summary of changes in series 1 convertible preferred stock and common stock shares (Details) - shares	1 Months Ended	6 Months Ended
	Jan. 31, 2007	Jun. 30, 2013
Series 1 Convertible Preferred Stock
Balance, beginning (in shares)		376,387
Preferred stock conversions (in shares)	2,000,000
Common stock issuances (in shares)
Balance, ending (in shares)		376,387
Common Stock
Balance, beginning (in shares)		18,634,369
Preferred stock conversions (in shares)
Common stock issuances (in shares)
Balance, ending (in shares)		18,634,369

CAPITAL STRUCTURE (Detail Textuals) - $ / shares	1 Months Ended		6 Months Ended
CAPITAL STRUCTURE (Detail Textuals) - $ / shares	Mar. 20, 2012	Jan. 31, 2007	Jun. 30, 2013
Preferred stock, par value (in dollars per share)			$ 0.001
Preferred stock, shares authorized (in shares)			10,000,000
Preferred stock conversion ratio	5.1 shares
Common stock, shares authorized (in shares)			65,000,000
Common stock, par value (in dollars per share)			$ 0.0001
Series 1 Convertible Preferred Stock
Preferred stock conversion into Series 1 Convertible Preferred Stock (in shares)		2,000,000
Preferred stock conversion ratio			5.1 shares
Dividend rate on Series 1 Convertible Preferred Stock			8.00%

RELATED PARTY TRANSACTION (Detail Textuals)		3 Months Ended		6 Months Ended
RELATED PARTY TRANSACTION (Detail Textuals)	Jun. 05, 2012 USD ($)	Jun. 30, 2013 USD ($)	Jun. 30, 2012 USD ($)	Jun. 30, 2013 USD ($) Promissory_Notes	Jun. 30, 2012 USD ($)
Related Party Transaction [Line Items]
Number of promissory notes \| Promissory_Notes				2
Line Of Credit Promissory Note
Related Party Transaction [Line Items]
Interest paid		$ 0	$ 4,110	$ 0	$ 4,110
Morry Rubin \| Line Of Credit Promissory Note
Related Party Transaction [Line Items]
Promissory notes, face amount	$ 200,000
Major Shareholder \| Line Of Credit Promissory Note
Related Party Transaction [Line Items]
Promissory notes, face amount	200,000
Morry Rubin and Major Shareholders \| Line Of Credit Promissory Note
Related Party Transaction [Line Items]
Promissory notes, face amount	$ 400,000
Term of promissory note	90 days
Interest rate of promissory note	15.00%
Rediscount credit facility with a commercial bank	$ 10,000,000

RELATED PARTY TRANSACTION (Detail Textuals 1) - $ / shares	1 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Mar. 20, 2012
Related Party Transaction [Line Items]
Preferred stock conversion ratio			5.1 shares
Morry Rubin \| Stock Options
Related Party Transaction [Line Items]
Term of options			10 years
Number of option granted			250,000
Vesting period of option			10 years
B Bernstein \| Stock Options
Related Party Transaction [Line Items]
Term of options			10 years
Number of option granted			250,000
Vesting period of option			10 years
Officers and Directors \| Stock Options
Related Party Transaction [Line Items]
Term of options			10 years
Number of option granted			500,000
Paul Healy \| Stock Options
Related Party Transaction [Line Items]
Term of options		10 years
Number of option granted		180,000
Shares exercisable (in dollars per share)		$ 0.25
Chief Information Officer \| Incentive Stock Options
Related Party Transaction [Line Items]
Term of options	10 years
Number of option granted	100,000
Shares exercisable (in dollars per share)	$ 0.35

EMPLOYMENT AND STOCK OPTION AGREEMENTS - Summary of stock option (Details)	6 Months Ended
	Jun. 30, 2013 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number Outstanding	2,930,000
Number Exercisable	2,792,083
Stock Options \| Exercise Price $ 1.25
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise Price (in dollars per share) \| $ / shares	$ 1.25
Number Outstanding	1,605,000
Remaining Contractual Life	4 years
Number Exercisable	1,605,000
Stock Options \| Exercise Price $ 1.00
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise Price (in dollars per share) \| $ / shares	$ 1.00
Number Outstanding	45,000
Remaining Contractual Life	6 years
Number Exercisable	33,750
Stock Options \| Exercise Price $ 0.62
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise Price (in dollars per share) \| $ / shares	$ 0.62
Number Outstanding	500,000
Remaining Contractual Life	6 years
Number Exercisable	500,000
Stock Options \| Exercise Price $ 0.17
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise Price (in dollars per share) \| $ / shares	$ 0.17
Number Outstanding	500,000
Remaining Contractual Life	9 years
Number Exercisable	500,000
Stock Options \| Exercise Price $ 0.35
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise Price (in dollars per share) \| $ / shares	$ 0.35
Number Outstanding	100,000
Remaining Contractual Life	10 years
Number Exercisable	33,333
Stock Options \| Exercise Price $ 0.25
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise Price (in dollars per share) \| $ / shares	$ 0.25
Number Outstanding	180,000
Remaining Contractual Life	9 years
Number Exercisable	120,000

EMPLOYMENT AND STOCK OPTION AGREEMENTS - Summary of fair value option award on date of grant (Details 1) - Stock Options	6 Months Ended
	Jun. 30, 2013 $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term	10 years
Dividends	0.00%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price (in dollars per share)	$ 0.17
Volatility	0.39%
Discount rate	0.05%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price (in dollars per share)	$ 1.25
Volatility	2.50%
Discount rate	4.75%

EMPLOYMENT AND STOCK OPTION AGREEMENTS (Detail Textuals) - shares	Oct. 31, 2009	Jan. 31, 2007
2007 Omnibus Equity Compensation Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common shares authorized for issuance (in shares)	4,200,000	2,100,000

EMPLOYMENT AND STOCK OPTION AGREEMENTS (Detail Textuals 1) - 2007 Omnibus Equity Compensation Plan - M Rubins Employment Agreement - Stock Options - USD ($)		6 Months Ended
	Aug. 08, 2013	Jun. 30, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Officers' annual salary		$ 1
Net income before tax threshold limit for salary revision		1,000,000
Monthly automobile allowance		$ 1,500
Term of options		10 years
Option to purchase common stock		650,000
Shares exercisable (in dollars per share)		$ 1.25
Subsequent Event [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Officers' annual salary	$ 125,000,000

EMPLOYMENT AND STOCK OPTION AGREEMENTS (Detail Textuals 2) - 2007 Omnibus Equity Compensation Plan - B Bernstein Employment Agreement - Stock Options	6 Months Ended
	Jun. 30, 2013 USD ($) $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Officers' annual salary	$ 240,000
Bonus equivalent to annual net income percentage	5.00%
Net income before tax threshold limit for salary revision	$ 200,000
Monthly automobile allowance	$ 1,000
Term of options	10 years
Option to purchase common stock \| shares	950,000
Shares exercisable (in dollars per share) \| $ / shares	$ 1.25
Option award method used	Black Scholes option pricing model

EMPLOYMENT AND STOCK OPTION AGREEMENTS (Detail Textuals 3) - USD ($)	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012
Employment and Stock Option Agreements [Abstract]
Fair value amounts recorded for option	$ 47,373	$ 5,327

WARRANTS - Summary of warrants (Details) - Warrant	6 Months Ended
WARRANTS - Summary of warrants (Details) - Warrant	Jun. 30, 2013 $ / shares
Derivative [Line Items]
Exercise price (in dollars per share)	$ 1.35
Term	7 years
Volatility	40.00%
Dividends	0.00%
Discount rate	0.05%

WARRANTS - Summary of information about stock warrants (Details 1)	6 Months Ended
	Jun. 30, 2013 $ / Warrants shares	Dec. 07, 2009 $ / Warrants
Derivative [Line Items]
Exercise price (in dollars per share) \| $ / Warrants		1.00
Warrant
Derivative [Line Items]
Exercise price (in dollars per share) \| $ / Warrants	0.023
Warrant \| Exercise Price $ 1.10
Derivative [Line Items]
Exercise price (in dollars per share) \| $ / Warrants	1.10
Number Outstanding \| shares	1,342,500
Weighted Average Remaining Contractual Life	10 months
Number Exercisable \| shares	1,342,500
Warrant \| Exercise Price $ 1.00
Derivative [Line Items]
Exercise price (in dollars per share) \| $ / Warrants	1.00
Number Outstanding \| shares	2,000,004
Weighted Average Remaining Contractual Life	7 years
Number Exercisable \| shares	2,000,004

WARRANTS (Detail Textuals)	6 Months Ended
WARRANTS (Detail Textuals)	Jun. 30, 2013 USD ($) $ / Warrants	Jun. 30, 2012 USD ($)	Dec. 07, 2009 $ / Warrants shares	Mar. 31, 2007 shares
Derivative [Line Items]
Number of common stock shares to purchase warrant \| shares			2,000,004
Exercise price (in dollars per share)			1.00
Warrant
Derivative [Line Items]
Number of common stock shares to purchase warrant \| shares				1,342,500
Exercise price (in dollars per share)	0.023
Compensation expenses for issuance of warrants \| $	$ 1,916	$ 9,582
Warrant \| Warrants Extended By 31 January 2014
Derivative [Line Items]
Exercise price (in dollars per share)	1.35

WARRANTS (Detail Textuals 1)	Dec. 07, 2009 USD ($) $ / Warrants shares
Warrants [Abstract]
Proceeds from sale of common stock shares \| $	$ 500,002
Number of common stock shares sold	500,002
Term of warrant	10 years
Number of warrants purchased	2,000,004
Exercise price (in dollars per share) \| $ / Warrants	1.00

CONCENTRATIONS -Summary of revenue from different industries (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Revenue By Different Industries [Line Items]
Revenues by industries	$ 703,602	$ 712,749	$ 1,306,209	$ 1,255,245
Apparel
Revenue By Different Industries [Line Items]
Revenues by industries	23,226	59,388	22,521	61,182
Transportation
Revenue By Different Industries [Line Items]
Revenues by industries	156,942	171,240	327,928	330,039
Staffing
Revenue By Different Industries [Line Items]
Revenues by industries	18,965	17,798	30,571	46,545
Service
Revenue By Different Industries [Line Items]
Revenues by industries	443,417	387,970	786,005	737,940
Other
Revenue By Different Industries [Line Items]
Revenues by industries	60,962	76,353	139,074	79,539
Publishing
Revenue By Different Industries [Line Items]
Revenues by industries	$ 90		$ 110

CONCENTRATIONS- Summary of client accounts (Details 1) - Customer Concentration Risk

3 Months Ended

6 Months Ended

Jun. 30, 2013

Accounts Receivable

Concentration Risk [Line Items]

Percentage of revenue from major customer

29.90%

Accounts Receivable | Food Service Company | Missouri

Concentration Risk [Line Items]

Percentage of revenue from major customer

^[1]

17.60%

Accounts Receivable | Apparel Company | Florida

Concentration Risk [Line Items]

Percentage of revenue from major customer

12.30%

Accounts Receivable | IT Consultant | Maryland

Concentration Risk [Line Items]

Percentage of revenue from major customer

Revenue

Concentration Risk [Line Items]

Percentage of revenue from major customer

28.50%

22.70%

Revenue | Food Service Company | Missouri

Concentration Risk [Line Items]

Percentage of revenue from major customer

^[1]

4.30%

6.00%

Revenue | Apparel Company | Florida

Concentration Risk [Line Items]

Percentage of revenue from major customer

3.30%

1.70%

Revenue | IT Consultant | Maryland

Concentration Risk [Line Items]

Percentage of revenue from major customer

20.90%

15.00%

[1]	Percentage calculation does not include $229,899 which is classified as "due from client" for this entity.

CONCENTRATIONS (Detail Textuals) - USD ($)

3 Months Ended

6 Months Ended

Jun. 30, 2013

Concentration Risk [Line Items]

Early termination fees

$ 75,000

Customer Concentration Risk | Revenue

Concentration Risk [Line Items]

Percentage of revenue from major customer

28.50%

22.70%

Disclosure of Major Customers

the Company did not have a customer that accounted for 10% or more of its revenues.

Customer Concentration Risk | Revenue | IT Consultant | Maryland

Concentration Risk [Line Items]

Percentage of revenue from major customer

20.90%

15.00%

Customer Concentration Risk | Revenue | Food Service Company | Missouri

Concentration Risk [Line Items]

Percentage of revenue from major customer

^[1]

4.30%

6.00%

[1]	Percentage calculation does not include $229,899 which is classified as "due from client" for this entity.

CONCENTRATIONS (Detail Textuals 1) - Customer Concentration Risk - Clients	3 Months Ended	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2013
Accounts Receivable
Concentration Risk [Line Items]
Percentage of revenue from major customer		29.90%
Number of clients		2
Revenue
Concentration Risk [Line Items]
Percentage of revenue from major customer	28.50%	22.70%
Number of clients	3	3

CONCENTRATIONS (Detail Textuals 2)	6 Months Ended
CONCENTRATIONS (Detail Textuals 2)	Jun. 30, 2013 USD ($)
Concentration Risk [Line Items]
Due from client	$ 229,899
Depository account maximum amount covered by FDIC	250,000
Customer Concentration Risk \| Accounts Receivable \| Food Service Company \| Missouri
Concentration Risk [Line Items]
Collection of balance of account receivable	2,820,073
Debtor	1,450,000
Decided to increase its allowance for doubtful accounts	$ 105,000

SUPPLEMENTAL DISCLOSURES OF CASH FLOW (Detail Textuals) - USD ($)	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012
Supplemental Cash Flow Elements [Abstract]
Cash paid for interest to a financial institution	$ 213,414	$ 220,854

INCOME TAXES (Detail Textuals) $ in Millions	Dec. 31, 2012 USD ($)
Income Tax Disclosure [Abstract]
Operating loss carryforwards	$ 3.6

COMMITMENTS AND CONTINGENCIES (Detail Textuals)	1 Months Ended			6 Months Ended
COMMITMENTS AND CONTINGENCIES (Detail Textuals)	Nov. 30, 2011 USD ($)	Oct. 22, 2010 USD ($)	Nov. 30, 2009	Jun. 30, 2013 USD ($) Leases	Jun. 30, 2012 USD ($)
Property Subject to or Available for Operating Lease [Line Items]
Rental expense				$ 28,586	$ 21,880
Principal amount, sought value		$ 485,000
Charlotte
Property Subject to or Available for Operating Lease [Line Items]
Number of leases \| Leases				2
Monthly rent				$ 2,340
Lease Expiration Date				May 31, 2014
Boca Raton
Property Subject to or Available for Operating Lease [Line Items]
Monthly rent	$ 1,413
Term of lease			24 months
Additional lease renewal term	2 years
Medley
Property Subject to or Available for Operating Lease [Line Items]
Monthly rent				$ 800

SUBSEQUENT EVENTS (Details) - USD ($)	1 Months Ended
SUBSEQUENT EVENTS (Details) - USD ($)	Aug. 31, 2013	Nov. 30, 2011	Nov. 30, 2009	Aug. 08, 2013
Boca Raton [Member]
Subsequent Event [Line Items]
Operating Leases, Rent Expense, Monthly Rent		$ 1,413
Term Of Lease			24 months
Subsequent Event [Member]
Subsequent Event [Line Items]
Due to Employees				$ 125,000,000
Subsequent Event [Member] \| Boca Raton [Member]
Subsequent Event [Line Items]
Operating Leases, Rent Expense, Monthly Rent	$ 6,800
Term Of Lease	39 months