Annual report pursuant to section 13 and 15(d)

Note 7 - Fair Value Measurements

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Note 7 - Fair Value Measurements
12 Months Ended
Dec. 31, 2011
Notes to Financial Statements  
Note 7 - Fair Value Measurements

NOTE 7 – FAIR VALUE MEASUREMENTS

 

In 2009 the Company implemented FASB ASC 850 “Fair Value Measurements and Disclosures” relative to its financial assets and liabilities that are recognized or disclosed at fair value in the financial statements at least annually.

 

In determining the fair value of investments held by the Company, the Level 1 valuation technique of “Quoted Market Price in Active Market” was implemented as the Company was able to obtain a quote from the London Stock Exchange as of December 31, 2009.

 

As of December 31, 2010, there were no investments held by the Company.