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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:
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