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FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Mar. 31, 2021

FAIR VALUE OF FINANCIAL INSTRUMENTS [Abstract]

Liabilities Measured at Fair Value

The following tables summarize the liabilities that are measured at fair value as of March 31, 2021 and December 31, 2020:

		March 31, 2021
Description		Level 1				Level 2				Level 3
Liabilities:
Contigent consideration			-				-				19,290,000
Total		$	-			$	-			$	19,290,000

		December 31, 2020
Description		Level 1				Level 2				Level 3
Liabilities:
Contigent consideration			-				-				20,110,000
Total		$	-			$	-			$	20,110,000

Liabilities Measured at Fair Value Using Level 3 Inputs

The following table reflects the activity for the Company’s contingent consideration liabilities measured at fair value using Level 3 inputs for the year ended March 31, 2021:

		Other Liabilities: Contingent Consideration
Balance at December 31, 2020		$	20,110,000
Fair value adjustments included in operating expenses			(820,000	)
Balance at March 31, 2021		$	19,290,000

X

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References

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-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
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Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

+ References

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