11. Fair Value Measurements
The Company measures certain assets and liabilities in accordance with ASC Topic 820,
Fair Value Measurements and Disclosures.
ASC Topic 820 defines fair value
as the price that would be received for an asset
or paid to transfer a liability in
an orderly transaction between market participants on the measurement date.
In addition,
it establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into three broad levels: