XML 25 R17.htm IDEA: XBRL DOCUMENT v2.4.0.6
DERIVATIVE INSTRUMENTS AND FAIR VALUE (Tables)
9 Months Ended
Sep. 30, 2012
DERIVATIVE INSTRUMENTS AND FAIR VALUE [Abstract]  
Fair values and carrying values of short-term instruments
At September 30, 2012 and December 31, 2011, the fair values of cash, accounts receivable, accounts payable and accrued expenses approximated their carrying values because of the short-term nature of these instruments.
 
   
September 30, 2012
 
   
Carrying Amount
  
Fair Value
 
Debt
      
Short-term borrowings and long-term debt
 $21,906,235  $21,906,235 
 
   
December 31, 2011
 
   
Carrying Amount
  
Fair Value
 
Debt
      
Short-term borrowings and long-term debt
 $17,876,619  $17,876,619 

Fair value of financial liabilities measured on a recurring basis
The following table presents the fair values of those financial liabilities measured on a recurring basis as of September 30, 2012 and December 31, 2011:

      
Fair Value Measurements September 30, 2012
 
Description
 
Total
  
Quoted Prices
in Active
 Markets for
 Identical assets
 (Level 1)
  
Significant
 Other
 Observable
 Inputs (Level 2)
  
Significant
 Unobservable
 Inputs (Level 3)
 
Interest Rate Swap, net
 $84,239   --  $84,239   -- 
Total
 $84,239   --  $84,239   -- 
                  
       
Fair Value Measurements December 31, 2011
Description
 
Total
  
Quoted Prices
 in Active
 Markets for
 Identical assets
 (Level 1)
  
Significant
 Other
 Observable
 Inputs (Level 2)
  
Significant
Unobservable
Inputs (Level 3)
Interest Rate Swap, net
 $32,988   --  $32,988   -- 
Total
 $32,988   --  $32,988   --