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Operations In Foreign Currency
9 Months Ended
Sep. 30, 2011
Operations In Foreign Currency [Abstract] 
Operations In Foreign Currency

Note 4 – Operations in Foreign Currency

 

            We have significant assets in Australia and New Zealand.  To the extent possible, we conduct our Australian and New Zealand operations on a self-funding basis.  The carrying value of our Australian and New Zealand assets and liabilities fluctuate due to changes in the exchange rates between the US dollar and the functional currency of Australia (Australian dollar) and New Zealand (New Zealand dollar).  We have no derivative financial instruments to hedge against the risk of foreign currency exposure.

           

            Presented in the table below are the currency exchange rates for Australia and New Zealand as of September 30, 2011 and December 31, 2010:

 

 

US Dollar

 

September 30, 2011

December 31, 2010

Australian Dollar

$         0.9744

$         1.0122

New Zealand Dollar

$         0.7675

$         0.7687