Quarterly report pursuant to Section 13 or 15(d)

Note 7 - Fair Value Measurements and Financial Instruments

v3.22.1
Note 7 - Fair Value Measurements and Financial Instruments
 3 Months Ended
Mar. 31, 2022
Notes to Financial Statements  
Fair Value Disclosures [Text Block]
 

7.

Fair value measurements and financial instruments:

 

The fair value hierarchy establishes three levels to classify the inputs to valuation techniques used to measure fair value.

 

Level 1 ‑ inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities;

 

Level 2 ‑ inputs are quoted prices in markets that are not active, quoted prices for similar assets or liabilities in active markets, inputs other than quoted prices that are observable for the asset or liability, or inputs that are derived principally from or corroborated by observable market data or other means; and

 

Level 3 ‑ inputs are unobservable (supported by little or no market activity).

 

The fair value hierarchy gives the highest priority to Level 1 inputs and the lowest priority to Level 3 inputs.

 

The following table presents the Company’s assets that are measured at fair value on a recurring basis for the periods presented:

 

   

March 31,
2022

    

Level 1

    

Level 2

    

Level 3

  

Assets

                                
                                 

Money Market accounts

   $ 13,600     $ -     $ 13,600       -  

Money Market Funds

     15,802       -       15,802       -  

High interest savings accounts

     7,310       -       7,310       -  

Government of Canada Treasury Bill

     12,494       -       12,494       -  

Guaranteed Investment Certificate

     20,026       -       20,026        
    $ 69,232     $ -     $ 69,232     $ -  

 

   

December 31,
2021

    

Level 1

    

Level 2

    

Level 3

  

Assets

                                
                                 

Money Market accounts

   $ 17,974     $ -     $ 17,974     $ -  

Money Market Funds

     15,801       -       15,801       -  

High interest savings accounts

     5,045       -       5,045       -  

Commercial notes

     19,998       -       19,998       -  

Guaranteed Investment Certificate

     20,016       -       20,016       -  
    $ 78,834     $ -     $ 78,834     $ -