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Fair Value of Financial Instruments
6 Months Ended
Jun. 30, 2011
Fair Value of Financial Instruments [Abstract]  
Fair Value of Financial Instruments

17. Fair Value of Financial Instruments

The carrying amounts of cash and cash equivalents, accounts receivable, prepaid expenses, loans payable, accounts payable, accrued liabilities, accrued payroll and other payables approximate their respective fair values at each balance sheet date due to the short-term maturity of these financial instruments.

 

The Company used multiple techniques to measure the fair value of the guarantees using Level 3 inputs; the results of each technique have been reasonably weighted based upon management’s judgment to determine the fair value of the guarantees at the measurement date. As a result of applying reasonable weights to each technique, the Company believes a reasonable estimate of fair value for the guarantees was $142,000 at December 31, 2009. At June 30, 2011 the value of the guarantee on our consolidated balance sheet, net of amortization, was $127,000.