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Note 5 - Fair Value Measurements | 12 Months Ended
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Dec. 31, 2018
Notes to Financial Statements |
Fair Value Disclosures [Text Block] | 5. Fair Value Measurements The Company’s investments are all classified within Level 1 of the fair value hierarchy. The Company’s investments classified within Level 1 of the fair value hierarchy are valued based quoted prices in active markets. Level 2 are based on matrix pricing compiled by third party pricing vendors, using observable market inputs such as interest rates, yield curves, and credit risk. For cash and cash equivalents, current receivables, accounts payable, and interest accrual, the carrying amounts approximate fair value, because of the short maturity of these instruments, and therefore fair value information is not included in the table below. The classification of the Company’s cash equivalents and investments within the fair value hierarchy is as follows:
|  |  |  | Fair Value Measurements at Reporting Date Using |  |
|  | December 31, 2018 |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Amortized Cost
Cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money Market Funds |  | $ | 4,984 |  |  | $ | 4,984 |  |  | $ | - |  |  | $ | - |  |  | $ | 4,984 |
Investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. treasury bills |  | $ | 69,972 |  |  | $ | 69,972 |  |  | $ | - |  |  | $ | - |  |  | $ | 69,972 |
|  |  |  | Fair Value Measurements at Reporting Date Using |  |
|  | December 31, 2017 |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Amortized Cost
Cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 5,893 |  |  | $ | 5,893 |  |  | $ | - |  |  | $ | - |  |  | $ | 5,893 |
Bank certificates of deposit |  |  | 500 |  |  |  | - |  |  |  | 500 |  |  |  | - |  |  |  | 500 |
Total cash equivalents |  | $ | 6,393 |  |  | $ | 5,893 |  |  | $ | 500 |  |  | $ | - |  |  | $ | 6,393 |
Investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Bank certificates of deposit |  | $ | 24,000 |  |  | $ | - |  |  | $ | 24,000 |  |  | $ | - |  |  | $ | 24,000 |
The Company did not have transfers in or out of Level 3 of the fair value hierarchy during the years ended December 31, 2018 and 2017.

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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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