Note 8. Fair Value of Financial Instruments. (Tables)

3 Months Ended

Jun. 30, 2012

Fair Value, by Balance Sheet Grouping [Table Text Block]

	TOTAL		LEVEL 1		LEVEL 2		LEVEL 3
LIABILITIES:
Cumulative changes in fair market value as of March 31, 2012		3,520,496		-		-		3,520,496
Change in fair market value from April 1, 2012 to June 30, 2012		1,001,972		-		-		1,001,972

Convertible loan derivative liability at June 30, 2012	$	4,522,468	$	-	$	-	$	4,522,468

- Definition

Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

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-Name Statement of Financial Accounting Standard (FAS)

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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+ Details

Blackwater Midstream Corp. 10-Q