SilverSun Technologies, Inc. - FORM 10-Q - XML - IDEA: XBRL DOCUMENT - November 10, 2011

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NOTE 8 - FAIR VALUE MEASUREMENTS
9 Months Ended
Sep. 30, 2011
Fair Value Disclosures [Text Block]
NOTE 8 - FAIR VALUE MEASUREMENTS

Fair value measurements are generally based upon observable and unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect our view of market assumptions in the absence of observable market information. The Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs.

The Company’s current financial assets and liabilities approximate fair value due to their short term nature and include cash, accounts receivable, accounts payable, capital leases and various short-term borrowings.

·  
Level 1 – Quoted prices are available in active markets for identical assets or liabilities as of the reporting date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of financial instruments such as exchange-traded derivatives, marketable securities and listed equities.

·  
Level 2 – Pricing inputs are other than quoted prices in active markets included in level 1, which are either directly or indirectly observable as of the reported date. Level 2 includes those financial instruments that are valued using models or other valuation methodologies. These models are primarily industry-standard models that consider various assumptions, including quoted forward prices for commodities, time value, volatility factors, and current market and contractual prices for the underlying instruments, as well as other relevant economic measures.

Substantially all of these assumptions are observable in the marketplace throughout the full term of the instrument, can be derived from observable data or are supported by observable levels at which transactions are executed in the marketplace. Instruments in this category include non-exchange-traded derivatives such as commodity swaps, interest rate swaps, options and collars.

·  
Level 3 – Pricing inputs include significant inputs that are generally less observable from objective sources. These inputs may be used with internally developed methodologies that result in management’s best estimate of fair value.

The following table provides a summary of the changes in fair value of our Level 3 financial liabilities from December 31, 2010 through September 30, 2011 as well as the portion of gains or losses included in income attributable to unrealized gains or losses related to the liability held at September 30, 2011:

Fair value, December 31, 2010
 
$
(1,177,845
)
Total gains or losses included in earnings:
       
Net change in unrealized gain (loss), net
   
415,856
 
New issuances
   
(104,821)
 
Debt extinguishment
   
767,279
 
Meller promissory note
   
99,531
 
     
-
 
Fair value, September 30, 2011
 
$
-
 

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