The fair value hierarchy of financial assets and liabilities measured at fair value on the consolidated statements of financial position as at December 31, 2017 is as follows:
Level 1 | Level 2 | Level 3 | ||||||||||
Financial assets | ||||||||||||
Assets held for sale | $ | - | $ | 14,052,861 | $ | - | ||||||
Holdback receivable | - | - | 12,068,773 | |||||||||
Financial liabilities | ||||||||||||
Accounts payable and accrued liabilities | $ | - | $ | - | $ | 877,150 | ||||||
Current portion of royalty obligation | - | - | 1,537,202 | |||||||||
Liabilities held for sale | - | 6,976,313 | - | |||||||||
Royalty obligation | - | - | 2,911,810 | |||||||||
License fee payable | - | - | 501,800 | |||||||||
Other long-term liability | - | - | 1,135,007 |
The fair value hierarchy of financial instruments measured at fair value on the consolidated statements of financial position as at December 31, 2016 is as follows:
Level 1 | Level 2 | Level 3 | ||||||||||
Financial liabilities | ||||||||||||
Short-term borrowings | $ | - | $ | 1,383,864 | $ | - | ||||||
Accounts payable and accrued liabilities | - | - | 100,000 | |||||||||
Current portion of finance lease obligations | - | 89,241 | - | |||||||||
Current portion of long-term debt | - | 2,883,752 | - | |||||||||
Current portion of royalty obligation | - | - | 2,019,243 | |||||||||
Finance lease obligations | - | 242,449 | - | |||||||||
Long-term debt | - | 68,180,424 | - | |||||||||
Royalty obligation | - | - | 3,666,479 | |||||||||
Derivative option on Apicore Class C shares | - | - | 32,901,006 | |||||||||
Liability to repurchase Apicore Class E shares | - | - | 2,700,101 | |||||||||
Fair value of Apicore Series A-1 preferred shares | - | - | 1,755,530 |