Significant Accounting Policies (Policies)

3 Months Ended

Mar. 31, 2020

Accounting Policies [Abstract]

New Accounting Pronouncements, Policy [Policy Text Block]

Recently Adopted Accounting Guidance

Effective

January 1, 2020,

the Company adopted Accounting Standards Update (“ASU”)

2017

-

04,

“Intangibles – Goodwill and Other (Topic

350

) – Simplifying the Test for Goodwill Impairment”.  The new standard eliminates the

two

-step process that required the identification of potential impairment and a separate measure of the actual impairment. Adoption of the new standard will

not

materially impact the Company’s consolidated financial statements.

Recent Accounting Guidance

Not

Yet Adopted

In

June 2016,

the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update

2016

-

13,

“Financial Instruments – Credit Losses (Topic

326

) – Measurement of Credit Losses on Financial Instruments”, which requires entities to measure all expected credit losses for financial assets held at the reporting data based on historical experience, current conditions, and reasonable and supportable forecasts. This replaces the existing incurred loss model and is applicable to the measurement of credit losses on financial assets measured at amortized cost. This guidance is effective for the Company for fiscal years, and interim periods within those fiscal years, beginning after

December 15, 2022.

The Company is currently assessing the impact that adopting this new accounting standard will have on our consolidated financial statements.