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Fair value measurements (Tables)
 6 Months Ended
Jun. 30, 2017
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, 2017 and December 31, 2016:
 
 
 
June 30, 2017
 
 
 
Level 1
 
Level 2
 
Level 3
 
Total
 
Liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
Recurring
 
 
 
 
 
 
 
 
 
 
 
 
 
Net liability arising from put/call options
 
$
-
 
$
-
 
$
528,000
 
$
528,000
 
 
 
 
December 31, 2016
 
 
 
Level 1
 
Level 2
 
Level 3
 
Total
 
Liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
Recurring
 
 
 
 
 
 
 
 
 
 
 
 
 
Net liability arising from put/call options
 
$
-
 
$
-
 
$
680,000
 
$
680,000
 
Fair Value Measurements, Nonrecurring [Table Text Block]
The activity for the Level 3 liability for the six months ended June 30, 2017:
 
Net liability arising from put/call options(1)
 
 
 
 
Balance as of December 31, 2016
 
$
680,000
 
Unrealized gain
 
 
(152,000)
 
Balance as of June 30, 2017
 
$
528,000
 
 
(1) In connection with the Company’s acquisition of 51% of Aerex in February 2016, the Company acquired from Aerex’s former sole shareholder an option to compel such shareholder to sell, and granted to such shareholder an option to require the Company to purchase, the shareholder’s remaining 49% ownership interest in Aerex at a price based upon the fair value of Aerex at the time of the exercise of the option. The options are exercisable on or after the third anniversary of the February 2016 acquisition date. The net liability arising from the put/call options is included in other liabilities in the accompanying condensed consolidated balance sheets as of June 30, 2017 and December 31, 2016.