Fair Value of Financial Instruments

3 Months Ended

Mar. 31, 2013

Fair Value of Financial Instruments [Abstract]

Fair Value of Financial Instruments

4.        Fair Value of Financial Instruments

In accordance with FASB ASC 820-10, Fair Value Measurements and Disclosures, our assets and liabilities, which are carried at fair value, are classified in one of the following categories:

Level 1—Quoted prices in active markets for identical assets or liabilities.

Level 2—Observable inputs other than quoted prices in Level 1.

Level 3—One or more significant inputs that are unobservable and supported by little or no market data.

Inputs are referred to as assumptions that market participants would use in pricing the asset or liability. The uses of inputs in the valuation process are categorized into a three-level fair value hierarchy.

Our Level 1 assets and liabilities consist of cash equivalents, which are primarily invested in money-market funds. These assets are classified as Level 1 because they are valued using quoted prices in active markets and other relevant information generated by market transactions involving identical assets and liabilities.

The fair value of our cash equivalents was determined using the following inputs as of March 31, 2013 and December 31, 2012 (in thousands):

March 31, 2013
	Fair Value Measurements at Reporting Date Using
	Level 1		Level 2		Level 3		Total
Money-market funds	$	3,092	$	-	$	-	$	3,092
Total	$	3,092	$	-	$	-	$	3,092
December 31, 2012
	Fair Value Measurements at Reporting Date Using
	Level 1		Level 2		Level 3		Total
Money-market funds	$	3,092	$	-	$	-	$	3,092
Total	$	3,092	$	-	$	-	$	3,092

For cash and cash equivalents, accounts receivable, and accounts payable, the carrying amount approximates fair value because of the relative short maturity of those instruments.