NOTE 5: FAIR VALUE OF FINANCIAL INSRUMENTS

6 Months Ended

Jun. 30, 2021

Notes

NOTE 5: FAIR VALUE OF FINANCIAL INSRUMENTS

NOTE 5: FAIR VALUE OF FINANCIAL INSRUMENTS

The carrying amounts of certain financial instruments, including cash and cash equivalents, restricted cash and accounts payable and accrued expenses, approximate their respective fair values due to the short-term nature of such instruments.

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The Company evaluates its financial assets and liabilities subject to fair value measurements on a recurring basis to determine the appropriate level in which to classify them for each reporting period. This determination requires significant judgments to be made. The Company considers marketable securities quoted on the NASDAQ, Canadian Stock Exchange and OTC Pink sheets and then discounts the value after considering Rule 144 restrictions and market liquidity to be fair valued with Level 1 inputs. The Company had the following financial assets of June 30, 2021:

	Balance as of March 31, 2021	Significant Unobservable Inputs (Level 1)	Significant Unobservable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)
Marketable Securities	$100,595	$100,595	$-	$-
Total Assets	$100,595	$100,595	$-	$-