v2.4.0.8
3. Fair Value of Financial Instruments
 6 Months Ended
Jun. 30, 2014
Fair Value Disclosures [Abstract]  
3. Fair Value of Financial Instruments

The following table presents a summary of the Company’s financial instruments measured at fair value on a recurring basis for the periods indicated (in thousands):

 

   As of June 30, 2014   As of December 31, 2013 
   (Level 1)   (Level 2)   (Level 3)   Total   (Level 1)   (Level 2)   (Level 3)   Total 
Assets:                                        
Short term investments  $7,957   $–   $–   $7,957   $7,970   $–   $–   $7,970 
Total assets  $7,957   $–   $–   $7,957   $7,970   $–   $–   $7,970 
Liabilities:                                        
Bank acceptance payable   –    2,377    –    2,377    –    2,347    –    2,347 
Total liabilities  $–   $2,377   $–   $2,377   $–   $2,347   $–   $2,347 

 

The carrying value amounts of accounts receivable, prepaid expenses and other current assets, borrowings from our credit facility, accounts payable, accrued expenses and other current liabilities approximate fair value because of the short-term maturity of these instruments.