Aptose Biosciences Inc. Current report filing

Current report filing

Note 5 - Fair Value Measurements and Financial Instruments

Note 5 - Fair Value Measurements and Financial Instruments

3 Months Ended

Mar. 31, 2018

Notes to Financial Statements

Fair Value Disclosures [Text Block]

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

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

Level

- 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

- inputs are unobservable (supported by little or

market activity).

The fair value hierarchy gives the highest priority to Level

inputs and the lowest priority to Level

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, 2018		Level 1		Level 2		Level 3
Assets

High interest savings account	$	1,243	$	-	$	1,243		-
United Sates treasury bills		6,985		-		6,985		-
Government of Canada treasury bills		1,994		-		1,994		-
Guaranteed investment certificates, Royal Bank of Canada		4,787		-		4,787		-

	$	15,009	$	-	$	15,009	$	-

		December 31, 2017		Level 1		Level 2		Level 3

Assets			$		$		$

Canadian provincial promissory notes		2,003		-		2,003		-
Commercial Notes		1,999		-		1,999		-
Guaranteed income certificates, Royal Bank of Canada		4,202		-		4,202		-
	$	8,204	$	-	$	8,204	$	-

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

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