XML 35 R20.htm IDEA: XBRL DOCUMENT v3.5.0.2
FAIR VALUE ACCOUNTING
 6 Months Ended
Jun. 30, 2016
FAIR VALUE ACCOUNTING [Text Block]
14.

FAIR VALUE ACCOUNTING

Assets and liabilities measured at fair value on a recurring basis

The following tables set forth the fair value of the Company's assets and liabilities measured at fair value on a recurring basis (at least annually) by level within the fair value hierarchy as at June 30, 2016. As required by accounting guidance, assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.

As at June 30, 2016, the fair values of cash and cash equivalents, restricted cash, short-term deposits, receivables, accounts payable and accrued liabilities approximate their carrying values because of the short-term nature of these instruments.

 

   Level 1     Level 2     Level 3     Total  

Investments

 $ 942   $   -   $   - $     942  

Warrant liabilities (Note 8)

   -     (1,661 )   -     (1,661 )

Convertible debentures (Note 7)

   (16,570 )   -     -     (16,570 )

 

 $ (15,628 ) $ (1,661 ) $   - $     (17,289 )

The Company's investments are marketable equity securities which are exchange traded, and are valued using quoted market prices in active markets and as such are classified within Level 1 of the fair value hierarchy. The fair value of the investments is calculated as the quoted market price of the marketable equity security multiplied by the quantity of shares held by the Company.