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TGSV ENTERPRISES, INC. NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2017 4 MARKETABLE EQUITY SECURITIES (continued) A fair value measurement assumes that the transaction to sell the asset or transfer the liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are briefly described as follows: Level 1 Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets. Level 2 Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the assets or liabilities, either directly or indirectly, for substantially the full term of the financial statements. Level 3 Inputs to the valuation methodology are unobservable and significant to the fair value measurement. A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. At December 31, 2017, all marketable equity securities are classified as Level 1 within the fair value hierarchy. There have been no changes in the methodologies used at December 31, 2017. Marketable equity securities are measured at fair value on a recurring basis. The following table sets forth by level, within the fair value hierarchy, the Company’s marketable equity securities at fair value as of December 31, 2017: Level 1 Level 2 Level 3 Total Closed end funds $ 329,368 $ - $ - $ 329,368 Mutual funds 642,350 - - 642,350 Total at fair value $ 971,718 $ - $ - $ 971,718 See independent accountants’ review report. -11-