Annual report pursuant to Section 13 and 15(d)

Fair Value (Tables)

v3.3.1.900
Fair Value (Tables)
 12 Months Ended
Dec. 31, 2015
Fair Value Disclosures [Abstract]  
Summary of changes in fair value of the Company's Level 3 liabilities measured on a recurring basis
The following table presents a summary of changes in fair value of the Company's Level 3 liabilities measured on a recurring basis for 2015 and 2014:
 
 
Level 3 Inputs
Balance at December 28, 2013
 
$
5,862,031

Present value of the earn-out liability associated with the Specialty acquisition
 
4,773,620

Interest expense charged during the year
 
96,933

Change in fair value of the earn-out liability associated with the Palmer acquisition
 
(3,476,197
)
Balance at January 3, 2015
 
7,256,387

Interest expense charged during the year
 
60,096

Reduction due to the finalization of Specialty's beginning balance sheet
 
(2,419,035
)
Change in the fair value of Specialty's earn-out liability
 
(2,414,115
)
Change in the fair value of Palmer's earn-out liability
 
(2,483,333
)
Balance at December 31, 2015
 
$
—