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Fair value measurements (Tables)
 3 Months Ended
Mar. 31, 2014
Fair Value Inputs [Abstract]  
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]
The following table presents the Company’s fair value hierarchy for assets and liabilities measured at fair value as of March 31, 2014 and December 31, 2013:
 
 
 
March 31, 2014
 
 
 
Level 1
 
Level 2
 
Level 3
 
Total
 
Assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
Recurring
 
 
 
 
 
 
 
 
 
 
 
 
 
Certificate of deposit
 
$
-
 
$
1,000,000
 
$
-
 
$
1,000,000
 
Marketable securities
 
 
8,596,543
 
 
-
 
 
-
 
 
8,596,543
 
Total Recurring
 
$
8,596,543
 
$
1,000,000
 
$
-
 
$
9,596,543
 
Nonrecurring
 
 
 
 
 
 
 
 
 
 
 
 
 
Investment in OC-BVI
 
$
-
 
$
-
 
$
5,970,987
 
$
5,970,987
 
   
 
 
December 31, 2013
 
 
 
Level 1
 
Level 2
 
Level 3
 
Total
 
Assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
Recurring
 
 
 
 
 
 
 
 
 
 
 
 
 
Marketable securities
 
$
8,587,475
 
$
-
 
$
-
 
$
8,587,475
 
Nonrecurring
 
 
 
 
 
 
 
 
 
 
 
 
 
Investment in OC-BVI
 
$
-
 
$
-
 
$
6,623,448
 
$
6,623,448
 
Fair Value Measurements, Nonrecurring [Table Text Block]
The activity for Level 3 investments for the three months ended March 31, 2014 was as follows:
 
Balance as of December 31, 2013
 
$
6,623,448
 
Profit sharing and equity from earnings of OC-BVI
 
 
74,739
 
Distribution of earnings from OC-BVI
 
 
(727,200)
 
Balance as of March 31, 2014
 
$
5,970,987