Quarterly report pursuant to sections 13 or 15(d)

Investments and Fair Value Measurements (Tables)

v2.4.0.8
Investments and Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2013
Classification of Financial Assets Recorded at Fair Value on Recurring Basis in Fair Value Hierarchy

At September 30, 2013, the Company did not have any financial assets or liabilities that are recorded at fair value on a recurring basis.

 

The following table summarizes the classification of the Company’s financial assets that are recorded at fair value on a recurring basis in the fair value hierarchy as of December 31, 2012:

 

 

Level I

 

  

Level II

 

  

Level III

 

  

Total

 

Assets

 

 

 

  

 

 

 

  

 

 

 

  

 

 

 

Cash equivalents – Money Market Funds             

$

  1,020

  

  

$

-

  

  

$

-

  

  

$

  1,020

  

 
Category of Financial Instruments Not Held at Fair Value

At September 30, 2013 and December 31, 2012, financial instruments that are not held at fair value are categorized in the table below:

 

 

September 30, 2013

 

  

December 31, 2012

 

  

 

 

 

Carrying
Amount

 

  

Fair
Value

 

  

Carrying
Amount

 

  

Fair
Value

 

  

Fair Value
Hierarchy

 

Financial Assets:

 

 

 

  

 

 

 

  

 

 

 

  

 

 

 

  

 

 

 

Cash             

$

  25,055

  

  

$

  25,055

  

  

$

  12,392

  

  

$

  12,392

  

  

 

 

 

Restricted Certificates of Deposit and Escrow             

$

  1,078

  

  

$

  1,078

  

  

$

  1,020

  

  

$

  1,020

  

  

 

Level 1

  (1

)

Financial liabilities:

 

 

 

  

 

 

 

  

 

 

 

  

 

 

 

  

 

 

 

Notes Payable             

$

  9,715

  

  

$

  9,715

  

  

$

  3,315

  

  

$

  3,315

  

  

 

Level 2

  (2

)

(1)              Restricted certificates of deposit and escrow consists of money market funds that are carried at either cost or amortized cost that approximates fair value due to their short-term maturities. The money market funds are valued through the use of quoted market prices, or $1.00, which is generally the net asset value of the funds.

(2)              The carrying value of notes payable approximates fair value, which is determined based on interest rates currently available to the Company for similar debt.