XML 31 R15.htm IDEA: XBRL DOCUMENT v2.4.0.6
Financial Instruments (Policies)
6 Months Ended
Jun. 30, 2012
Financial Instruments [Abstract]  
Fair Value Measurements and Disclosures

We follow the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 820, Fair Value Measurements and Disclosures, which defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. The fair value framework requires the categorization of assets and liabilities into three levels based upon the assumptions (inputs) used to price the assets or liabilities. Level 1 provides the most reliable measure of fair value, whereas Level 3 generally requires significant management judgment.

 

The Company’s financial instruments include cash, accounts receivable, accounts payable and accrued expenses. The fair values of all financial instruments were not materially different from their carrying values.

Share-Based Payments

The Company follows FASB ASC Topic 718, Share-Based Payments, in which compensation expense is recognized only for share-based payments expected to vest. The Company recognized compensation expense related to stock options of $80,373 and $162,901 for the three and six month periods ended June 30, 2012, respectively, compared to $112,638 and $203,063 for the same periods of 2011.