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Fair value measurements (Tables)
 6 Months Ended
Jun. 30, 2016
Fair Value Disclosures [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 June 30, 2016 and December 31, 2015:
 
 
 
June 30, 2016
 
 
 
Level 1
 
Level 2
 
Level 3
 
Total
 
Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
Recurring
 
 
 
 
 
 
 
 
 
 
 
 
 
Restricted cash
 
$
-
 
$
-
 
$
-
 
$
-
 
Certificate of deposit
 
 
-
 
 
-
 
 
-
 
 
-
 
Total recurring
 
$
-
 
$
-
 
$
-
 
$
-
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Nonrecurring
 
 
 
 
 
 
 
 
 
 
 
 
 
Investment in OC-BVI
 
$
-
 
$
-
 
$
4,678,093
 
$
4,678,093
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
Recurring
 
 
 
 
 
 
 
 
 
 
 
 
 
Net liability arising from put/call options
 
$
-
 
$
-
 
$
383,000
 
$
383,000
 
 
 
 
December 31, 2015
 
 
 
Level 1
 
Level 2
 
Level 3
 
Total
 
Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
Recurring
 
 
 
 
 
 
 
 
 
 
 
 
 
Restricted cash
 
$
428,203
 
$
-
 
$
-
 
$
428,203
 
Certificate of deposit
 
 
-
 
 
5,637,538
 
 
-
 
 
5,637,538
 
Total recurring
 
$
428,203
 
$
5,637,538
 
$
-
 
$
6,065,741
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Nonrecurring
 
 
 
 
 
 
 
 
 
 
 
 
 
Investment in OC-BVI
 
$
-
 
$
-
 
$
4,548,271
 
$
4,548,271
 
Fair Value Measurements, Nonrecurring [Table Text Block]
The activity for the Level 3 asset and liability for the six months ended June 30, 2016 was as follows:
  
Investment in OC-BVI
 
 
 
 
Balance as of December 31, 2015
 
$
4,548,271
 
Profit sharing and equity from earnings of OC-BVI
 
 
179,822
 
Distributions received from OC-BVI
 
 
-
 
Impairment of investment in OC-BVI (See Note 7)
 
 
(50,000)
 
Balance as of June 30, 2016
 
$
4,678,093
 
 
 
 
 
 
Net liability arising from put/call options(1)
 
 
 
 
Balance as of December 31, 2015
 
$
-
 
Net liability arising from put/call options
 
 
383,000
 
Balance as of June 30, 2016
 
$
383,000
 
 
(1) The net liability arising from put/call options is included in the accompanying condensed consolidated balance sheets within other liabilities as of June 30, 2016.