Fair Value Measurement (Tables)
 6 Months Ended
Jun. 30, 2014
Fair Value Disclosures [Abstract]  
Financial liabilities measured at fair value on a recurring basis
The following table sets forth the Company's financial liabilities measured at fair value on a recurring basis and the basis of measurement at June 30, 2014 and December 31, 2013:

 
Fair Value Measurements as of June 30, 2014
 
Total
 
Level 1
 
Level 2
 
Level 3
Liabilities:
 
 
 
 
 
 
 
Contingent consideration obligation
$
(7,810,947
)
 
$
—

 
$
—

 
$
(7,810,947
)

 
Fair Value Measurements as of December 31, 2013
 
Total
 
Level 1
 
Level 2
 
Level 3
Liabilities:
 
 
 
 
 
 
 
Contingent consideration obligation
$
(7,150,432
)
 
$
—

 
$
—

 
$
(7,150,432
)
Reconciliation of the beginning and ending balances for the liabilities measured at fair value using significant unobservable inputs
The following table provides a reconciliation of the beginning and ending balances for the liabilities measured at fair value using significant unobservable inputs (Level 3):
 
Due to Seller
Balance at December 31, 2013
$
(7,150,432
)
Increase related to acquisition of OFS
(880,000
)
Change in fair value
(1,305,185
)
Payment of contingent consideration
1,524,670

Balance at June 30, 2014
$
(7,810,947
)