Quarterly report pursuant to Section 13 or 15(d)

Note 6 - Fair Value Measurements and Financial Instruments

v3.19.2
Note 6 - Fair Value Measurements and Financial Instruments
 6 Months Ended
Jun. 30, 2019
Notes to Financial Statements  
Fair Value Disclosures [Text Block]
6.
 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:
                         
   
June 30,
2019
     Level 1     Level 2     Level 3  
Assets                                
                                 
High interest savings account   $
3,917
     $
-  
     $
3,917
      
-  
  
United States treasury bills    
5,480
      
-  
      
5,480
      
-  
  
Commercial notes    
4,978
      
 
      
4,978
      
 
  
Government of Canada promissory notes    
2,492
      
 
      
2,492
      
 
  
Canadian provincial promissory notes    
4,489
      
-  
      
4,489
      
-  
  
Guaranteed investment certificates, Royal Bank of Canada    
13,692
      
-  
      
13,692
      
-  
  
                                 
    $
35,048
     $
-  
     $
35,048
     $
-  
  
 
                         
   
December 31,
2018
     Level 1     Level 2     Level 3  
                         
Assets                                
                                 
High interest savings account    
496
      
-  
      
496
      
-  
  
United Sates treasury bills    
3,989
      
-  
      
3,989
      
-  
  
Canadian provincial promissory notes    
5,991
      
-  
      
5,991
      
-  
  
Guaranteed investment certificates, Royal Bank of Canada    
4,642
      
-  
      
4,642
      
-  
  
                                 
    $
15,118
     $
-  
     $
15,118
     $
-