FAIR VALUE MEASUREMENTS

12 Months Ended

Sep. 30, 2012

Fair Value Disclosures [Text Block]

NOTE 6 – FAIR VALUE MEASUREMENTS

The authoritative guidance for fair value measurements establishes a three-tier value hierarch, which prioritizes the inputs used to measure fair value. These tiers include: Level 1, defined as unadjusted quoted process in active markets for identical assets or liabilities, Level 2, defined as inputs other than quoted process in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs for use when little or no market data exists, therefore requiring an entity to develop its own assumptions.

The Company’s financial instruments consist primarily of cash and cash equivalents, trade receivables, and accounts payable, and notes payable. The fair values of cash and cash equivalents, trade receivable and accounts payable approximate their carrying values due to the short-term nature of these instruments.

Fair Value Measurements at Reporting
	Fair Value	Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1)	Significant Other Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)
September 30, 2012
Notes Payable	$3,899,161	$     -	$3,899,161	$     -
Total Liabilities	$3,899,161	$     -	$3,899,161	$     -
September 30, 2011
Notes Payable	$4,315,086	$     -	$4,315,086	$     -
Total Liabilities	$4,315,086	$     -	$4,315,086	$     -

The carrying amount of the notes payable approximated fair value due because the borrowings bear interest at variable market rates.