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NOTE 3 - FAIR VALUE MEASUREMENTS | 3 Months Ended
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Mar. 31, 2018
Fair Value Disclosures [Abstract] |
Fair Value Disclosures [Text Block] | NOTE 3 – FAIR VALUE MEASUREMENTS Accounting Standards Codification (“ASC”) 820, Fair Value Measurements and Disclosures defines fair value, establishes a framework for measuring fair value in U.S. generally accepted accounting principles and expands disclosures about fair value measurements. ASC 820 establishes a three-tier fair value hierarchy, which is based on the reliability of the inputs used in measuring fair values. These tiers include:
Level 1: | Quoted prices in active markets for identical assets or liabilities;
Level 2: | Quoted prices in active markets for similar assets or liabilities; quoted prices in markets that are not active for identical or similar assets or liabilities; and model-driven valuations whose significant inputs are observable; and
Level 3: | Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.
The following table presents the fair value hierarchy for our financial assets measured at fair value on a recurring basis as of March 31, 2018 and December 31, 2017, respectively:
|  |  |  |  | Fair Value Measure at March 31, 2018 |
|  | Total |  |  | Quoted |  |  | Significant |  |  |  |
|  | Carrying |  |  | Prices |  |  | Other |  |  | Significant |
|  | Value at |  |  | in Active |  |  | Observable |  |  | Unobservable |
|  | March 31, |  |  | Market |  |  | Inputs |  |  | Inputs |
Description |  | 2018 |  |  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 25,808 |  |  | $ | 25,808 |  |  | $ | - |  |  | $ | - |
Total |  | $ | 25,808 |  |  | $ | 25,808 |  |  | $ | - |  |  | $ | - |
|  |  |  |  | Fair Value Measure at December 31, 2017 |
|  | Total |  |  | Quoted |  |  | Significant |  |  |  |
|  | Carrying |  |  | Prices |  |  | Other |  |  | Significant |
|  | Value at |  |  | in Active |  |  | Observable |  |  | Unobservable |
|  | December 31, |  |  | Market |  |  | Inputs |  |  | Inputs |
Description |  | 2017 |  |  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 27,792 |  |  | $ | 27,792 |  |  | $ | - |  |  | $ | - |
Total |  | $ | 27,792 |  |  | $ | 27,792 |  |  | $ | - |  |  | $ | - |

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- References No definition available. + Details
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- 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -URI http://asc.fasb.org/topic&trid=2155941 + Details
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