Fair Value Measurements

12 Months Ended

Dec. 31, 2012

Fair Value Measurements [Abstract]

Fair Value Measurements

Note 4 - Fair Value Measurements

The following table represents the Company's fair value hierarchy for its financial assets and liabilities measured at fair value on a recurring basis:

	Fair Value at December 31, 2012						Fair Value at December 31, 2011
Assets	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
Corporate debt securities and auction rate securities	$	-	$	32,945	$	-	$	-	$	4,205	$	-
Total investments	$	-	$	32,945	$	-	$	-	$	4,205	$	-
Liabilities
Warrant liabilities	$	-	$	-	$	267	$	-	$	-	$	368

During the years ended December 31, 2012 and 2011, the Company did not have any transfers between Level 1 and Level 2 assets or liabilities.

The following table provides a reconciliation of the beginning and ending balance of Level 3 assets and liabilities measured on a recurring basis for the year ended December 31, 2012 (in thousands):

	Fair Value Measurements of Warrants Using Significant Unobservable Inputs (Level 3)
Balance at December 31, 2011	$	368
Change in fair value of Warrant liability		(101	)
Balance at December 31, 2012	$	267

The amounts in the Company's balance sheet for accounts receivables, unbilled receivables and accounts payable approximate fair value due to their short-term nature. Based on borrowing rates available to the Company, the fair value of capital lease and notes payable approximates their carrying value.