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FAIR VALUE MEASUREMENTS
 3 Months Ended
Mar. 31, 2012
FAIR VALUE MEASUREMENTS

3. FAIR VALUE MEASUREMENTS

Financial instruments are categorized as Level 1, Level 2 or Level 3 based upon the method by which their fair value is computed. An investment is categorized as Level 1 when its fair value is based on unadjusted quoted prices in active markets for identical assets that the Company has the ability to access at the measurement date. An investment is categorized as Level 2 if its fair market value is based on quoted market prices for similar assets in active markets, quoted prices for identical or similar assets in markets that are not active, based on observable inputs such as interest rates, yield curves, or derived from or corroborated by observable market data by correlation or other means. An investment is categorized as Level 3 if its fair value is based on assumptions developed by the Company about what a market participant would use in pricing the assets.

The following table details the fair value measurements of the Company’s financial assets:

 

              Fair Value Measurement at March 31, 2012 Using:    
            Level 1      Level 2      Level 3  

Money Markets, Cash and Equivalents

    $ 43,391,619       $ 43,391,619       $ —         $ —     

U.S. Government Securities

      32,143,959         12,871,230         19,272,729         —     

Corporate Debt

      13,501,297         —           13,501,297         —     

Certificates of Deposit

      12,923,150         —           12,923,150         —     

WIN Semiconductor Corp.

      1,923,479         1,923,479         —           —     

Advanced Wireless Semiconductor Company

      2,345,114         2,345,114         —           —     
  

 

 

     

 

 

     

 

 

     

 

 

  
   $ 106,228,618       $ 60,531,442       $ 45,697,176       $ —     
  

 

 

     

 

 

     

 

 

     

 

 

  

 

            Fair Value Measurement at December 31, 2011 Using:  
            Level 1      Level 2      Level 3  

Money Markets, Cash and Equivalents

    $ 43,095,163       $ 43,095,163       $ —         $ —     

U.S. Government Securities

      32,145,653         12,892,670         19,252,983         —     

Corporate Debt

      18,754,992         —           18,754,992         —     

Certificates of Deposit

      11,422,742         —           11,422,742         —     

Win Semiconductor Corp.

      1,709,189         1,709,189         —           —     

Advanced Wireless Semiconductor Company

      1,602,096         1,602,096         —           —     
  

 

 

     

 

 

     

 

 

     

 

 

  
   $ 108,729,835       $ 59,299,118       $ 49,430,717       $ —