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Note 4 - Fair Value Measurements
9 Months Ended
Sep. 30, 2022
Notes to Financial Statements  
Fair Value Disclosures [Text Block]

4.

Fair Value Measurements

 

The Company has certain cash equivalents in money market funds that are classified within Level 1 of the fair value hierarchy and are valued based on quoted prices in active markets. For cash, accounts receivables, accounts payable, and accrued interest, the carrying amounts approximate fair value, because of the short maturity of these instruments, and therefore fair value information is not included in the table below. Contingent consideration related to the previously described business combinations are classified within Level 3 of the fair value hierarchy as the determination of fair value uses considerable judgement and represents the Company’s best estimate of an amount that could be realized in a market exchange for the asset or liability. There were no transfers between fair value levels during the nine-month periods ended September 30, 2022 or 2021. See Note 3, Business Combinations for additional discussion of contingent consideration as of September 30, 2022.

 

      

Active Markets

  

Significant Other

  

Significant

     
      

for Identical

Assets

  

Observable

Inputs

  

Unobservable

Inputs

     
  

September 30, 2022

  

(Level 1)

  

(Level 2)

  

(Level 3)

  

Amortized Cost

 

Cash equivalents:

                    

Money Market Funds

 $67,348  $67,348  $-  $-  $67,348 
                     

Other current liabilities:

                    

Contingent Consideration - Short Term

 $-  $-  $-  $-  $- 

 

      

Active Markets

  

Significant Other

  

Significant

     
      

for Identical

Assets

  

Observable

Inputs

  

Unobservable

Inputs

     
  

December 31, 2021

  

(Level 1)

  

(Level 2)

  

(Level 3)

  

Amortized Cost

 

Cash equivalents:

                    

Money Market Funds

 $67,046  $67,046  $-  $-  $67,046 
                     

Other current liabilities:

                    

Contingent Consideration - Short Term

 $4,315  $-  $-  $4,315  $- 

 

Contingent Consideration

 

The following table provides a rollforward of the contingent consideration related to business acquisitions discussed in Note 3, Business Combinations

 

  

Nine Months Ended

  

Nine Months Ended

 
  

September 30, 2022

  

September 30, 2021

 

Balance, beginning

 $4,315  $35,410 

Payments

  (4,315)  (10,000)

Change in fair value

  -   (21,920)

Balance, ending

 $-  $3,490