Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

v3.4.0.3
FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)
3 Months Ended
Mar. 31, 2016
Fair Value Disclosures [Abstract]  
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]
The following table provides a reconciliation of the beginning and ending balances for the contingent consideration measured at fair value using significant unobservable inputs (Level 3):
 
Financial instruments measured at fair value on a recurring basis:
 
 
 
Fair Value Measurement at Reporting
Date Using Significant Unobservable
Inputs, Level 3
 
 
 
Three Months Ended
 
 
 
2016
 
2015
 
Balance - January 1,
 
$
1,172,508
 
$
2,626,323
 
GCB Acquisition
 
 
430,000
 
 
-
 
Change in fair value
 
 
(44,753)
 
 
(695,883)
 
Payment
 
 
(35,549)
 
 
-
 
Balance - March 31,
 
$
1,522,206
 
$
1,930,440