Note 23 - Determination of Fair Values
|12 Months Ended|
Mar. 31, 2019
|Statement Line Items [Line Items]|
|Disclosure of fair value measurement [text block]||
Certain of the Corporation’s accounting policies and disclosures require the determination of fair value, for both financial assets and liabilities. Fair values have been determined for measurement and/or disclosure purposes based on the following methods.
Financial assets and liabilities:
In establishing fair value, the Corporation uses a fair value hierarchy based on levels as defined below:
The Corporation has determined that the carrying values of its short-term financial assets and liabilities (cash and cash equivalents, marketable securities and trade and other payables) approximate their fair value given the short-term nature of these instruments. The fair value of the liability component of the convertible debenture is determined by discounting future cash flows using a rate that the Corporation could obtain for loans with similar terms, conditions and maturity dates. The fair value of this liability at
March 31, 2019approximates the carrying amount and was measured using level
Derivative warrant liabilities:
The Corporation measured its derivative warrant liabilities at fair value on a recurring basis. These financial liabilities were measured using level
March 31, 2019,the effect of an increase or a decrease of
5%of the volatility used, which is the significant unobservable input in the fair value estimate, would result in a loss of
$569or a gain of
March 31, 2019,the effect of a
5%strengthening of the US dollar, would result in a loss of
5%weakening of the foreign currency would have an equal but opposite effect on the basis that all other variables remained constant.
The entire disclosure for fair value measurement.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef