Note 3 - Investments

3 Months Ended

Sep. 30, 2011

Financial Instruments Disclosure [Text Block]

Note 3: Investments

The Company has categorized its financial assets, based on the priority of the inputs to the valuation technique, into a three-level fair value hierarchy. If the inputs used to measure the financial instruments fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument.

Financial assets recorded on the balance sheets are categorized based on the inputs to the valuation techniques as follows:

o   Level 1 – Financial assets whose values are based on unadjusted quoted prices for identical assets or liabilities in an active market which the company has the ability to access at the measurement date (examples include active exchange-traded equity securities and most U.S. Government and agency securities).

o   Level 2 – Financial assets whose value are based on quoted market prices in markets where trading occurs infrequently or whose values are based on quoted prices of instruments with similar attributes in active markets.

o   Level 3 – Financial assets whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. These inputs reflect management’s own view about the assumptions a market participant would use in pricing the asset.

As of September 30, 2011 and June 30, 2011, the Company’s Level 1 financial assets were as follows (in thousands):

	Level 1
	9/30/2011		6/30/2011
Six Month Fixed Rate Deposit	$	6,234	$	6,421

As of September 30, 2011 and June 30, 2011, the Company did not have any level 2 or 3 financial assets.