Fair value measurements (Tables)

6 Months Ended

Jun. 30, 2013

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 June 30, 2013 and December 31, 2012:

	June 30, 2013
	Level 1		Level 2		Level 3		Total
Assets:
Recurring
Marketable securities	$	8,575,899	$	-	$	-	$	8,575,899

Nonrecurring
Investment in affiliate	$	-	$	-	$	6,854,775	$	6,854,775

	December 31, 2012
	Level 1		Level 2		Level 3		Total
Assets:
Recurring
Marketable securities	$	8,570,338	$	-	$	-	$	8,570,338

Nonrecurring
Investment in affiliate	$	-	$	-	$	6,925,346	$	6,925,346

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 six months ended June 30, 2013:

Balance as of December 31, 2012	$	6,925,346
Profit sharing and equity from earnings of OC-BVI		1,179,304
Distributions from OC-BVI		(1,249,875)
Balance as of June 30, 2013	$	6,854,775

- 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.

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- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period 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 asset.

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