value of Financial Instruments
Company has adopted FASB ASC Topic 825, Financial Instruments, and ASC Topic 820, Fair Value Measurements and
Disclosures, which establishes a framework for measuring fair value in U.S. GAAP and expands disclosures about fair value
measurements. To increase consistency and comparability in fair value measurements and related disclosures, it establishes a three-level
valuation hierarchy of valuation techniques based on observable and unobservable inputs, which may be used to measure fair value
and include the following:
1 Quoted market prices available in active markets for identical assets or liabilities as of the reporting date.
2 Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly
observable as of the reporting date.
3 Pricing inputs that are generally observable inputs and are not corroborated by market data.
carrying amounts of the Companys financial assets and liabilities, such as cash, accounts payable, and accrued expenses,
approximate their fair values because of the short maturity of these instruments.
Company does not have any assets or liabilities measured at fair value on a recurring or a non-recurring basis. Consequently,
the Company did not have any fair value adjustments for assets and liabilities measured at fair value as of November 30, 2012
and August 31, 2012, nor gains or losses are reported in the statements of operations that are attributable to the change in unrealized
gains or losses related to those assets and liabilities still held at the reporting date for the periods ended November 30, 2012
and August 31, 2012.