Note 3 - Fair Value Measurements

9 Months Ended

Sep. 30, 2013

Fair Value Disclosures [Abstract]

Fair Value Disclosures [Text Block]

3.  Fair Value Measurements

The following table presents the assets measured at fair value on a recurring basis as of September 30, 2013 (in thousands):

	September 30,
	2013		Level 1		Level 2		Level 3
Assets:
Cash equivalents	$	26,305	$	26,305	$	—	$	—
Short-term investments		249		249		—		—
Restricted cash equivalents		1,000		1,000
Total assets at fair value	$	27,554	$	27,554	$	—	$	—

The following table presents the financial assets measured at fair value on a recurring basis as of December 31, 2012 (in thousands):

	December 31,
	2012		Level 1		Level 2		Level 3
Assets:
Cash equivalents	$	44	$	44	$	—	$	—
Short-term investments		1,497		1,497		—		—
Restricted short-term investments		1,000		1,000		—		—
Total assets at fair value	$	2,541	$	2,541	$	—	$	—

Cash equivalents, short-term investments and restricted cash equivalents and short-term investments include certificates of deposit, money market deposit accounts and money market funds. The carrying value of these cash equivalents, short-term investments and restricted cash equivalents and short-term investments approximates fair value. For these securities, IPC uses quoted prices in active markets for identical assets to determine their fair value and are considered to be Level 1 instruments.