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FAIR VALUE OF FINANCIAL INSTRUMENTS

6 Months Ended

Jun. 30, 2016

NOTE 3:

FAIR VALUE OF FINANCIAL INSTRUMENTS

The carrying amounts of financial instruments carried at cost, including cash and cash equivalents, short-term deposits, restricted cash, accounts receivable, prepaid expenses and other assets, accounts payable, accrued expenses and other liabilities approximate their fair value due to the short-term maturities of such instruments.

The following table present assets and liabilities measured at fair value on a recurring basis as of June 30, 2016:

	June 30, 2016
	Fair value measurements using input type
	Level 1		Level 2		Level 3		Total
Assets:
Derivative assets	$	-	$	875	$	-	$	875

Total financial assets	$	-	$	875	$	-	$	875

Liabilities:
Payment obligation in connection with acquisitions	$	-	$	-	$	42,535	$	42,535
Derivative liabilities		-		49		-		49
Convertible debt		29,309		-		-		29,309

Total financial liabilities	$	29,309	$	49	$	42,535	$	71,893

The following table present assets and liabilities measured at fair value on a recurring basis as of December 31, 2015:

	December 31, 2015
	Fair value measurements using input type
	Level 1		Level 2		Level 3		Total
Assets:
Derivative assets	$	-	$	608	$	-	$	608

Total financial assets	$	-	$	608	$	-	$	608

Liabilities:
Payment obligation in connection with acquisitions	$	-	$	-	$	49,124	$	49,124
Derivative liabilities		-		214		-		214
Convertible debt		35,463		-		-		35,463

Total financial liabilities	$	35,463	$	214	$	49,124	$	84,801

The following table summarizes the changes in the Company’s liabilities measured at fair value using significant unobservable inputs (Level 3), during the six months ended June 30, 2016:

Total fair value as of January 1, 2016	$	49,124

Accretion of payment obligation related to acquisition		1,207
Change to payment obligation as a result of working capital adjustment		(1,666	)
Settlements		(6,125	)
Reclassification to accrued expenses		(5	)

Total fair value as of June 30, 2016	$	42,535

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

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