This excerpt taken from the VOCS 10-Q filed May 11, 2009.
Fair Value Measurements
The Company measures certain financial assets at fair value, including cash equivalents and available-for-sale securities pursuant to Statement of Financial Accounting Standard No. 157, Fair Value Measurement (SFAS No. 157) which specifies a fair value hierarchy that is intended to increase consistency and comparability in fair value measurements and related disclosures. The fair value hierarchy is based on inputs to valuation techniques that are used to measure fair value that are either observable or unobservable. Observable inputs reflect assumptions market participants would use in pricing an asset or liability based on market data obtained from independent sources while unobservable inputs reflect a reporting entitys pricing based upon their own market assumptions. The fair value hierarchy consists of the following three levels: