Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2019

Fair value of assets and liabilities measured at fair value on a recurring basis

The following fair value hierarchy table presents information about each major category of the Company’s financial assets and liabilities measured at fair value on a recurring basis:



	Quoted Prices in Active Markets for Identical Items (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
June 30, 2019
Assets
Money market	$	8,164,197	$	—	$	—	$	8,164,197
Derivative assets	—		762,757		—		762,757
Total assets	$	8,164,197	$	762,757	$	—	$	8,926,954
Liabilities
Contingent consideration	$	—	$	—	$	1,781,667	$	1,781,667
Derivative liability	—		231,092		—		231,092
Total liabilities	$	—	$	231,092	$	1,781,667	$	2,012,759
December 31, 2018
Assets
Money market	$	7,639,866	$	—	$	—	$	7,639,866
Derivative asset	—		972,784		—		972,784
Total assets	$	7,639,866	$	972,784	$	—	$	8,612,650
Liabilities
Derivative liability	$	—	$	940,216	$	—	$	940,216
Total liabilities	$	—	$	940,216	$	—	$	940,216

Changes in fair value of warrant liability

The following table sets forth a summary of changes in the fair value of the Company’s contingent consideration liability, which represents a recurring measurement that is classified within Level 3 of the fair value hierarchy, wherein fair value is estimated using significant unobservable inputs:



	Contingent Consideration
Balance as of December 31, 2018	$	—
Amounts acquired	1,718,000
Accretion	63,667
Balance as of June 30, 2019	$	1,781,667