Fair Value of Financial
The Company adopted ASC 820,
Fair Value Measurements and Disclosures (ASC 820). ASC 820 defines fair value, establishes a three-level valuation hierarchy for
disclosures of fair value measurement and enhances disclosure requirements for fair value measures. The three levels are defined
Level 1: observable inputs
that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.
Level 2: include other inputs
that are directly or indirectly observable in the marketplace.
Level 3: unobservable inputs
which are supported by little or no market activity.
The Company had no such assets
or liabilities recorded to be valued on the basis above at September 30, 2012 and 2011.