Quarterly report pursuant to Section 13 or 15(d)

Note 6 - Fair Value Measurements and Financial Instruments

v3.20.1
Note 6 - Fair Value Measurements and Financial Instruments
3 Months Ended
Mar. 31, 2020
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 fair value of the Company’s financial instruments for the periods presented:
 
     
March 31,
2020
     
Level 1
     
Level 2
     
Level 3
 
Assets                                
                                 
High interest savings account   $
1,321
    $     $
1,321
       
Commercial notes    
18,873
           
18,873
       
Canadian provincial promissory notes    
35,230
           
35,230
       
Guaranteed investment certificates,  issued by a Canadian financial institution    
9,412
           
9,412
       
                                 
    $
64,836
    $     $
64,836
    $  
 
 
     
December 31,
2019
     
Level 1
     
Level 2
     
Level 3
 
Assets                                
                                 
High interest savings account   $
2,989
    $     $
2,989
    $  
Commercial notes    
6,235
           
6,235
       
Canadian provincial promissory notes    
5,493
           
5,493
       
Guaranteed investment certificates,  issued by a Canadian financial institution    
81,243
           
81,243
       
                                 
    $
95,960
    $     $
95,960
    $