Financial instruments (Tables)

12 Months Ended

Dec. 31, 2012

Investments, All Other Investments [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 December 31, 2012 and 2011:

	December 31, 2012
	Level 1		Level 2		Level 3		Total
Assets:
Recurring
Cash equivalents	$	-	$	-	$	-	$	-
Restricted cash		-		-		-		-
Marketable securities		8,570,338		-		-		8,570,338
Total Recurring	$	8,570,338	$	-	$	-	$	8,570,338
Nonrecurring
Investment in affiliate	$	-	$	-	$	6,925,346	$	6,925,346

	December 31, 2011
	Level 1		Level 2		Level 3		Total
Assets:
Recurring
Cash equivalents	$	16,177,462	$	-	$	-	$	16,177,462
Restricted cash		7,500,000		-		-		7,500,000
Marketable securities		8,496,372		-		-		8,496,372
Total Recurring	$	32,173,834	$	-	$	-	$	32,173,834
Nonrecurring
Investment in affiliate	$	-	$	-	$	6,634,598	$	6,634,598

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

A reconciliation of the beginning and ending balances for Level 3 investments for the year ended December 31, 2012:

Balance as of December 31, 2011	$	6,634,598
Profit sharing and equity from earnings of OC-BVI		2,464,773
Distribution of earnings from OC-BVI		(2,174,025	)
Balance as of December 31, 2012	$	6,925,346