Quarterly report pursuant to Section 13 or 15(d)

Note 6 - Fair Value Measurements and Financial Instruments

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Note 6 - Fair Value Measurements and Financial Instruments
 6 Months Ended
Jun. 30, 2024
Notes to Financial Statements  
Fair value measurements and financial instruments
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 fair value of Company's assets that are measured at fair value on a recurring basis for the periods presented:

 

 

 

June 30,
2024

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

High interest savings account

 

$

5,014

 

 

 

—

 

 

$

5,014

 

 

 

—

 

Total

 

$

5,014

 

 

 

—

 

 

$

5,014

 

 

 

—

 

 

 

 

 

December 31,
2023

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

High interest savings accounts

 

$

2,002

 

 

 

—

 

 

$

2,002

 

 

 

—

 

United States Treasury Bills

 

 

4,486

 

 

 

—

 

 

 

4,486

 

 

 

—

 

Total

 

$

6,488

 

 

 

—

 

 

$

6,488

 

 

 

—