FAIR VALUE

12 Months Ended

Dec. 31, 2012

FAIR VALUE [Abstract]

FAIR VALUE

NOTE 3: FAIR VALUE

The Company utilizes fair value measurements to record fair value adjustments to certain financial assets and to determine fair value disclosures.

Fair Value Measurements and Disclosure Topic of the FASB ASC establishes a fair value hierarchy that requires the use of observable market data, when available, and prioritizes the inputs to valuation techniques used to measure fair value in the following categories:

·      Level 1—Quoted unadjusted prices for identical instruments in active markets.

·      Level 2—Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active and model-derived valuations in which all observable inputs and significant value drivers are observable in active markets.

·      Level 3—Model derived valuations in which one or more significant inputs or significant value drivers are unobservable, including assumptions developed by the Company.

The primary objective of the Company's investment activities is to preserve principal while maximizing yields without significantly increasing risk. The investment instruments held by the Company are money market funds and interest bearing deposits for which quoted market prices are readily available. The Company considers these highly liquid investments to be cash equivalents. These investments are classified within Level 1 of the fair value hierarchy because they are valued based on quoted market prices in active markets. The tables below present the recorded amount of financial assets measured at fair value (in thousands) on a recurring basis as of December 31, 2012 and 2011. The Company did not have any material financial liabilities that were required to be measured at fair value on a recurring basis at December 31, 2012 and 2011.

2012	Level 1		Level 2		Level 3		Total
Assets
Money Market Funds – Fidelity, US	$	1,141	$	—	$	—	$	1,141
Interest bearing deposits – various banks, Korea		2,686		—		—		2,686
Total assets	$	3,827	$	—	$	—	$	3,827
Amounts included in:
Cash and cash equivalents	$	1,141	$	—	$	—	$	1,141
Long-term restricted cash		2,686		—		—		2,686
Total	$	3,827	$	—	$	—	$	3,827

2011		Level 1		Level 2		Level 3		Total
Assets
Money Market Funds – Fidelity, US	$	$4,038	$	$—	$	$—	$	$4,038
Interest bearing deposits – various banks, Korea		2,476		—		—		2,476
Total assets	$	6,514	$	—	$	—	$	6,514
Amounts included in:
Cash and cash equivalents	$	$4,124	$	$—	$	$—	$	$4,124
Long-term restricted cash		2,390		—		—		2,390
Total	$	6,514	$	—	$	—	$	6,514