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Fair value measurements (Tables)
 9 Months Ended
Sep. 30, 2016
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 September 30, 2016 and December 31, 2015:
 
 
 
September 30, 2016
 
 
 
Level 1
 
Level 2
 
Level 3
 
Total
 
 
 
 
 
 
 
 
 
 
 
Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
Recurring
 
 
 
 
 
 
 
 
 
 
 
 
 
Restricted cash
 
$
-
 
$
-
 
$
-
 
$
-
 
Certificate of deposit
 
$
-
 
$
-
 
$
-
 
$
-
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Nonrecurring
 
 
 
 
 
 
 
 
 
 
 
 
 
Investment in OC-BVI
 
$
-
 
$
-
 
$
3,942,869
 
$
3,942,869
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
Recurring
 
 
 
 
 
 
 
 
 
 
 
 
 
Net liability arising from put/call options
 
$
-
 
$
-
 
$
658,000
 
$
658,000
 
 
 
 
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, Inputs, Level 3 [Member]  
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]
The activity for the Level 3 asset and liability for the nine months ended September 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
 
 
319,598
 
Distributions received from OC-BVI
 
 
-
 
Impairment of investment in OC-BVI
 
 
(925,000)
 
Balance as of September 30, 2016
 
$
3,942,869
 
 
 
 
 
 
Net liability arising from put/call options[1]
 
 
 
 
Balance as of December 31, 2015
 
$
-
 
Issuance
 
 
383,000
 
Unrealized loss
 
 
275,000
 
Balance as of September 30, 2016
 
$
658,000
 
 
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(1) The net liability arising from the put/call options is included other liabilities in the accompanying condensed consolidated balance sheets as of September 30, 2016.