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)
 6 Months Ended
Jun. 30, 2013
Text Block [Abstract]  
Classification of Financial Assets in Fair Value Hierarchy

The following table summarizes the classification of the Company’s financial assets in the fair value hierarchy as of June 30, 2013:

 

     Level I      Level II      Level III      Total  

Assets

            

Cash equivalents – Money Market Funds

    $ 1,191       $ —         $ —         $ 1,191   
  

 

 

     

 

 

     

 

 

     

 

 

  

 

The following table summarizes the classification of the Company’s financial assets 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 June 30, 2013 and December 31, 2012, financial instruments that are not held at fair value are categorized in the table below:

 

 

     June 30, 2013      December 31, 2012         
     Carrying
Amount 		     Fair
Value		      Carrying
Amount 		     Fair
Value		      Fair  Value
Hierarchy 		 

Financial Assets:

               

Cash

    $ 12,699       $ 12,699       $ 12,392       $ 12,392      

Restricted Certificates of Deposit and Escrow

    $ 1,191       $ 1,191       $ 1,020       $ 1,020         Level 1  (1) 

Financial liabilities:

               

Notes Payable

    $ 9,606       $ 9,606       $ 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.