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10-Q - 10-Q - BROADVIEW NETWORKS HOLDINGS INCbroadviewnetworksholdingsi.htm
EX-32.2 - EXHIBIT 32.2 - BROADVIEW NETWORKS HOLDINGS INCbnhex322-9302012.htm
EX-31.2 - EXHIBIT 31.2 - BROADVIEW NETWORKS HOLDINGS INCbnhex312-9302012.htm
EX-32.1 - EXHIBIT 32.1 - BROADVIEW NETWORKS HOLDINGS INCbnhex321-9302012.htm
EX-31.1 - EXHIBIT 31.1 - BROADVIEW NETWORKS HOLDINGS INCbnhex311-9302012.htm
EXCEL - IDEA: XBRL DOCUMENT - BROADVIEW NETWORKS HOLDINGS INCFinancial_Report.xls
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v2.4.0.6
Fair Value of Financial Instruments
9 Months Ended
Sep. 30, 2012
Fair Value of Financial Instruments [Abstract]  
Fair Value Disclosures [Text Block]
Fair Value of Financial Instruments
The Company’s financial instruments include cash and cash equivalents, certificates of deposit, investments in U.S. Treasury notes, trade accounts receivable, accounts payable, the Revolving Credit Facility (as defined below), the DIP Credit Facility and the Notes. The Company’s available cash balances are invested on a short-term basis (generally overnight) and, accordingly, are not subject to significant risks associated with changes in interest rates. All of the Company’s cash flows are derived from operations within the United States and are not subject to market risk associated with changes in foreign exchanges rates. The carrying amounts of the Company’s cash and cash equivalents, certificates of deposit, trade accounts receivable and accounts payable reported in the consolidated balance sheets as of September 30, 2012 and December 31, 2011 are deemed to approximate fair value because of their liquidity and short-term nature.
The fair value of the amount outstanding under the Revolving Credit Facility approximated its carrying value of $17,122 at December 31, 2011 due to its variable market-based interest rate. The fair value of the amount outstanding under the DIP Credit Facility approximated its carrying value of $15,900 at September 30, 2012 due to its variable market-based interest rate. The fair value of the Notes was $240,000 at December 31, 2011, which was based on the publicly quoted price of the Notes at that date. The publicly quoted closing price used to value the Notes is considered to be a Level 1 input under the fair value hierarchy. The fair value of the Notes was $300,000 at September 30, 2012, which was based on the amount of the allowed claim pursuant to the Plan. The carrying value of the Notes was $300,000 and $300,840 at September 30, 2012 and December 31, 2011, respectively.