Common use of Deferred Tax Clause in Contracts

Deferred Tax. The Group's significant components of deferred tax assets were as follows: Net operating losses 88,798,333 121,369,268 Accrued liabilities 34,389,202 47,898,888 Fixed assets depreciation 428,268 1,127,603 Allowance for doubtful accounts 1,875,133 11,038,772 Total 125,490,936 181,434,531 Less: Valuation allowance (125,490,936 ) (181,434,531 ) Net deferred tax assets — — As of December 31, 2009, 2010 and 2011, valuation allowances were provided for tax losses carry-forward and other deferred tax assets because it was more likely than not that such deferred tax will not be realized based on the Group's estimate of its future taxable income. Accumulated tax losses of approximately RMB 389,157,840, RMB 506,083,746 and RMB 672,646,922 carried forward as of