XML 40 R20.htm IDEA: XBRL DOCUMENT
v2.4.0.6

Note 14 - Fair value measurement: | 12 Months Ended
--- | ---
Dec. 31, 2011
Foreign Currency Contract, Asset, Fair Value Disclosure, Methodology | 14. Fair value measurement: For financial assets and liabilities recorded in our financial statements at fair value we utilize a valuation hierarchy for disclosure of the inputs to valuation used to measure fair value. This hierarchy prioritizes the inputs into three broad levels. Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 inputs are quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument. Level 3 inputs are unobservable inputs based on the Company’s own assumptions used to measure assets and liabilities at fair value. A financial asset or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. The following table provides a summary of the fair values of the Company’s derivative instruments measured at fair value on a recurring basis as at December 31, 2011:
|  |  | December 31, 2011 |
|  |  | Fair Value Measurement Using |  |  |  | Assets at Fair |
|  |  | Level 1 |  |  |  | Level 2 |  |  |  | Level 3 |  |  |  | Value |
Derivative instrument asset |  | $ | — |  |  | $ | 87,023 |  |  | $ | — |  |  | $ | 87,023 |
Total Assets |  | $ | — |  |  | $ | 87,023 |  |  | $ | — |  |  | $ | 87,023 |
Derivative instrument liability |  | $ | — |  |  | $ | 786,506 |  |  | $ | — |  |  | $ | 786,506 |
Total Liabilities |  | $ | — |  |  | $ | 786,506 |  |  | $ | — |  |  | $ | 786,506 |
The following table provides a summary of the fair values of the Company’s derivative instruments measured at fair value on a recurring basis as at December 31, 2010:
|  | December 31, 2010 |
|  | Fair Value Measurements Using |  |  | Assets at |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Fair Value |
Derivative instrument asset |  | $ | — |  |  | $ | 833,960 |  |  | $ | — |  |  | $ | 833,960 |
Total Assets |  | $ | — |  |  | $ | 833,960 |  |  | $ | — |  |  | $ | 833,960 |

X
- Definition This item represents management's methodology (for example, procedures or techniques) for estimating the fair value as of the balance sheet date of the financial instrument (as defined), including financial assets and financial liabilities (collectively, as defined). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=6925170&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 107 -Paragraph 10 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 32 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6947722&loc=d3e13433-108611 + Details
Name: | us-gaap_ForeignCurrencyContractAssetFairValueDisclosureMethodology
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration