2016 Q2 Form 10-Q Financial Statement
#000143774916037003 Filed on August 10, 2016
Income Statement
| Concept | 2016 Q2 | 2015 Q4 |
|---|---|---|
| Revenue | $0.00 | $0.00 |
| YoY Change | -100.0% | -100.0% |
| Cost Of Revenue | ||
| YoY Change | ||
| Gross Profit | ||
| YoY Change | ||
| Gross Profit Margin | ||
| Selling, General & Admin | ||
| YoY Change | ||
| % of Gross Profit | ||
| Research & Development | ||
| YoY Change | ||
| % of Gross Profit | ||
| Depreciation & Amortization | ||
| YoY Change | ||
| % of Gross Profit | ||
| Operating Expenses | ||
| YoY Change | ||
| Operating Profit | ||
| YoY Change | ||
| Interest Expense | ||
| YoY Change | ||
| % of Operating Profit | ||
| Other Income/Expense, Net | ||
| YoY Change | ||
| Pretax Income | ||
| YoY Change | ||
| Income Tax | ||
| % Of Pretax Income | ||
| Net Earnings | ||
| YoY Change | ||
| Net Earnings / Revenue | ||
| Basic Earnings Per Share | ||
| Diluted Earnings Per Share | ||
| COMMON SHARES | ||
| Basic Shares Outstanding | 1.483M | |
| Diluted Shares Outstanding |
Balance Sheet
| Concept | 2016 Q2 | 2015 Q4 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $9.017M | $10.88M |
| YoY Change | 12.71% | 171.93% |
| Cash & Equivalents | $4.323M | $5.876M |
| Short-Term Investments | $4.694M | $5.002M |
| Other Short-Term Assets | ||
| YoY Change | ||
| Inventory | ||
| Prepaid Expenses | ||
| Receivables | $0.00 | $100.0K |
| Other Receivables | $400.0K | $0.00 |
| Total Short-Term Assets | $4.700M | $6.000M |
| YoY Change | -45.35% | 30.43% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | ||
| YoY Change | ||
| Goodwill | ||
| YoY Change | ||
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | $0.00 | $5.000M |
| YoY Change | -100.0% | -16.67% |
| Other Assets | $31.40M | $47.00M |
| YoY Change | 42.73% | 147.37% |
| Total Long-Term Assets | $36.16M | $51.89M |
| YoY Change | -6.33% | 32.04% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $4.700M | $6.000M |
| Total Long-Term Assets | $36.16M | $51.89M |
| Total Assets | $40.86M | $57.89M |
| YoY Change | -13.44% | 31.87% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $400.0K | $500.0K |
| YoY Change | -20.0% | -28.57% |
| Accrued Expenses | $200.0K | $400.0K |
| YoY Change | -33.33% | 100.0% |
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Long-Term Debt Due | ||
| YoY Change | ||
| Total Short-Term Liabilities | $1.000M | $1.400M |
| YoY Change | -94.74% | -92.82% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Other Long-Term Liabilities | $9.800M | $13.00M |
| YoY Change | 326.09% | 1344.44% |
| Total Long-Term Liabilities | $9.800M | $13.00M |
| YoY Change | 326.09% | 1344.44% |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $1.000M | $1.400M |
| Total Long-Term Liabilities | $9.800M | $13.00M |
| Total Liabilities | $10.87M | $14.44M |
| YoY Change | -69.56% | -29.23% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | ||
| YoY Change | ||
| Common Stock | ||
| YoY Change | ||
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $30.00M | $43.50M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $40.90M | $57.90M |
| YoY Change | -13.35% | 31.89% |
Cashflow Statement
| Concept | 2016 Q2 | 2015 Q4 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | ||
| YoY Change | ||
| Depreciation, Depletion And Amortization | ||
| YoY Change | ||
| Cash From Operating Activities | ||
| YoY Change | ||
| INVESTING ACTIVITIES | ||
| Capital Expenditures | ||
| YoY Change | ||
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | ||
| YoY Change | ||
| Cash From Investing Activities | ||
| YoY Change | ||
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | ||
| YoY Change | ||
| NET CHANGE | ||
| Cash From Operating Activities | ||
| Cash From Investing Activities | ||
| Cash From Financing Activities | ||
| Net Change In Cash | ||
| YoY Change | ||
| FREE CASH FLOW | ||
| Cash From Operating Activities | ||
| Capital Expenditures | ||
| Free Cash Flow | ||
| YoY Change |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2014Q2 | gyro |
Additional Bonus Pool Funding Additional Percentage Of Gross Sales Price On Property Appreciation
AdditionalBonusPoolFundingAdditionalPercentageOfGrossSalesPriceOnPropertyAppreciation
|
0.02 | |
| CY2014Q2 | gyro |
Additional Bonus Pool Funding Percentage Of Gross Sales Price On First Ten Percent Of Property Appreciation
AdditionalBonusPoolFundingPercentageOfGrossSalesPriceOnFirstTenPercentOfPropertyAppreciation
|
0.1 | |
| CY2014Q2 | gyro |
Additional Bonus Pool Funding Percentage Of Gross Sales Price On Property Appreciation Greater Than Twenty Percent
AdditionalBonusPoolFundingPercentageOfGrossSalesPriceOnPropertyAppreciationGreaterThanTwentyPercent
|
0.2 | |
| CY2014Q2 | gyro |
Additional Bonus Pool Funding Percentage Of Gross Sales Price On Second Ten Percent Of Property Appreciation
AdditionalBonusPoolFundingPercentageOfGrossSalesPriceOnSecondTenPercentOfPropertyAppreciation
|
0.15 | |
| CY2014Q2 | gyro |
Bonus Pool Funding As Percentage Of Appraised Value Of Contributed Properties
BonusPoolFundingAsPercentageOfAppraisedValueOfContributedProperties
|
0.05 | |
| gyro |
Liquidation Basis Of Accounting Change In Liquidation Value Of Real Estate
LiquidationBasisOfAccountingChangeInLiquidationValueOfRealEstate
|
134979 | ||
| CY2016Q2 | gyro |
Liquidation Basis Of Accounting Common Stock Per Share
LiquidationBasisOfAccountingCommonStockPerShare
|
20.23 | |
| CY2016Q2 | us-gaap |
Liabilities
Liabilities
|
10867434 | |
| CY2015Q4 | us-gaap |
Liabilities
Liabilities
|
14436134 | |
| CY2016Q2 | us-gaap |
Operating Leases Future Minimum Payments Receivable
OperatingLeasesFutureMinimumPaymentsReceivable
|
6752102 | |
| CY2016Q2 | us-gaap |
Operating Leases Future Minimum Payments Receivable Current
OperatingLeasesFutureMinimumPaymentsReceivableCurrent
|
2160412 | |
| CY2016Q2 | us-gaap |
Operating Leases Future Minimum Payments Receivable In Five Years
OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears
|
440913 | |
| CY2016Q2 | us-gaap |
Operating Leases Future Minimum Payments Receivable In Four Years
OperatingLeasesFutureMinimumPaymentsReceivableInFourYears
|
290643 | |
| gyro |
Marketable Securities Adjusted Duration
MarketableSecuritiesAdjustedDuration
|
P4Y | ||
| CY2015 | gyro |
Marketable Securities Adjusted Duration
MarketableSecuritiesAdjustedDuration
|
P4Y | |
| gyro |
Marketable Securities Estimated Yield
MarketableSecuritiesEstimatedYield
|
0.02 | ||
| CY2015 | gyro |
Marketable Securities Estimated Yield
MarketableSecuritiesEstimatedYield
|
0.02 | |
| CY2016Q2 | gyro |
Minimum Percentage Of Taxable Income Distributed To Shareholders To Maintain Reit Status
MinimumPercentageOfTaxableIncomeDistributedToShareholdersToMaintainReitStatus
|
0.9 | |
| CY2015Q2 | gyro |
Percent Of Shareholders Subscriptions
PercentOfShareholdersSubscriptions
|
1 | |
| CY2014Q4 | gyro |
Percentage Of Outstanding Shares Voted By Delivery Of Proxy Cards
PercentageOfOutstandingSharesVotedByDeliveryOfProxyCards
|
0.45 | |
| CY2014Q4 | gyro |
Percentage Of Shares Voted In Favor Of Merger
PercentageOfSharesVotedInFavorOfMerger
|
0.97 | |
| CY2015Q2 | gyro |
Proceeds From Issuance Of Common Stock Net
ProceedsFromIssuanceOfCommonStockNet
|
5606190 | |
| CY2016Q2 | gyro |
Proceeds In Excess Of Fair Value
ProceedsInExcessOfFairValue
|
15000 | |
| CY2014Q2 | gyro |
Retention Bonus Plan Gross Selling Price Requirement Percentage
RetentionBonusPlanGrossSellingPriceRequirementPercentage
|
1 | |
| CY2015Q2 | gyro |
Rights Offering Expense
RightsOfferingExpense
|
509865 | |
| CY2016Q2 | us-gaap |
Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
|
433206 | |
| CY2015Q4 | us-gaap |
Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
|
499669 | |
| CY2016Q2 | us-gaap |
Accrued Bonuses Current And Noncurrent
AccruedBonusesCurrentAndNoncurrent
|
1000000 | |
| CY2015Q4 | us-gaap |
Accrued Income Taxes
AccruedIncomeTaxes
|
11162 | |
| CY2016Q2 | us-gaap |
Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
|
241170 | |
| CY2015Q4 | us-gaap |
Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
|
408898 | |
| us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
233200 | ||
| CY2016Q2 | us-gaap |
Assets
Assets
|
40856335 | |
| CY2015Q4 | us-gaap |
Assets
Assets
|
57891711 | |
| CY2016Q2 | us-gaap |
Available For Sale Securities
AvailableForSaleSecurities
|
4694399 | |
| CY2015Q4 | us-gaap |
Available For Sale Securities
AvailableForSaleSecurities
|
5001722 | |
| CY2016Q2 | us-gaap |
Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
|
4603999 | |
| CY2015Q4 | us-gaap |
Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
|
5026390 | |
| us-gaap |
Availableforsale Securities Gross Unrealized Gain Loss1
AvailableforsaleSecuritiesGrossUnrealizedGainLoss1
|
90400 | ||
| CY2015 | us-gaap |
Availableforsale Securities Gross Unrealized Gain Loss1
AvailableforsaleSecuritiesGrossUnrealizedGainLoss1
|
-24668 | |
| us-gaap |
Basis Of Accounting
BasisOfAccounting
|
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px; width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="WIDTH: 18pt; VERTICAL-ALIGN: top"><div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">4</div><div style="display: inline; font-weight: bold;">.</div><div style="display: inline; font-weight: bold;"></div><div style="display: inline; font-weight: bold;"></div><div style="display: inline; font-weight: bold;"></div></div></div></td> <td style="VERTICAL-ALIGN: top"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"></div><div style="display: inline; font-weight: bold;"></div><div style="display: inline; font-weight: bold;"></div><div style="display: inline; font-weight: bold;">Basis of Quarterly Presentations</div><div style="display: inline; font-weight: bold;">:</div></div></div></td> </tr> </table> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></div></div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The accompanying quarterly financial statements have been prepared in conformity with accounting principles generally accepted in the United States (“GAAP”). The financial statements of the Company included herein have been prepared by the Company pursuant to the rules and regulations of the SEC and, in the opinion of management, reflect all adjustments which are necessary to present fairly the results for the six-month period ended June 30, 2016.</div></div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations; however, management believes that the disclosures are adequate to make the information presented not misleading.</div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 18pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"></div> </div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Certain 2015 amounts and descriptions have been reclassified to conform to the 2016 financial statement presentation. These reclassifications have no effect on previously reported changes in net assets.</div></div></div> | ||
| CY2016Q2 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
4322590 | |
| CY2015Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
5875596 | |
| CY2016Q2 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
1482680 | |
| CY2015Q2 | us-gaap |
Common Stock Shares Subscribed But Unissued
CommonStockSharesSubscribedButUnissued
|
7044894 | |
| CY2016Q2 | us-gaap |
Contractual Obligation
ContractualObligation
|
677100 | |
| CY2016Q2 | us-gaap |
Deferred Rent Credit
DeferredRentCredit
|
115836 | |
| CY2015Q4 | us-gaap |
Deferred Rent Credit
DeferredRentCredit
|
12509 | |
| CY2016Q2 | us-gaap |
Disposal Group Including Discontinued Operation Property Plant And Equipment
DisposalGroupIncludingDiscontinuedOperationPropertyPlantAndEquipment
|
14000000 | |
| CY2016Q2 | us-gaap |
Equity Method Investments
EquityMethodInvestments
|
0 | |
| CY2016Q2 | us-gaap |
Liquidation Basis Of Accounting Accrued Costs To Dispose Of Assets And Liabilities
LiquidationBasisOfAccountingAccruedCostsToDisposeOfAssetsAndLiabilities
|
9715064 | |
| CY2015Q4 | us-gaap |
Liquidation Basis Of Accounting Accrued Costs To Dispose Of Assets And Liabilities
LiquidationBasisOfAccountingAccruedCostsToDisposeOfAssetsAndLiabilities
|
13020340 | |
| CY2016Q2 | us-gaap |
Marketable Securities
MarketableSecurities
|
4694399 | |
| CY2015Q4 | us-gaap |
Marketable Securities
MarketableSecurities
|
5001722 | |
| us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
1 | ||
| CY2016Q2 | us-gaap |
Operating Leases Future Minimum Payments Receivable In Three Years
OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears
|
1156700 | |
| CY2016Q2 | us-gaap |
Operating Leases Future Minimum Payments Receivable In Two Years
OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears
|
1541868 | |
| CY2016Q2 | us-gaap |
Operating Leases Future Minimum Payments Receivable Thereafter
OperatingLeasesFutureMinimumPaymentsReceivableThereafter
|
1161566 | |
| CY2016Q2 | us-gaap |
Other Receivables
OtherReceivables
|
402395 | |
| CY2015Q4 | us-gaap |
Other Receivables
OtherReceivables
|
19117 | |
| CY2015Q2 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
6116055 | |
| us-gaap |
Proceeds From Principal Repayments On Loans And Leases Held For Investment
ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment
|
413150 | ||
| us-gaap |
Proceeds From Sale Of Property Held For Sale
ProceedsFromSaleOfPropertyHeldForSale
|
3446000 | ||
| CY2015Q4 | us-gaap |
Real Estate Heldforsale
RealEstateHeldforsale
|
46950000 | |
| CY2016Q2 | us-gaap |
Real Estate Heldforsale
RealEstateHeldforsale
|
31414979 | |
| CY2016Q2 | us-gaap |
Receivables Net Current
ReceivablesNetCurrent
|
21972 | |
| CY2015Q4 | us-gaap |
Receivables Net Current
ReceivablesNetCurrent
|
45276 | |
| us-gaap |
Reclassifications
Reclassifications
|
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px; width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="WIDTH: 18pt; VERTICAL-ALIGN: top"><div style=""><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">17</div><div style="display: inline; font-weight: bold;">.</div></div></div></td> <td style="VERTICAL-ALIGN: top"> <div style=""><div style="display: inline; font-weight: bold;"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Reclassifications:</div></div></div></td> </tr> </table> <div style=" TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 45pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"> </div></div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 18pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Certain amounts in the prior period have been reclassified to conform to the classification used in the current period. Prepaid expenses and other assets have been netted against estimated liquidation and operating costs net of receipts on the statement of net assets.</div></div></div> | ||
| us-gaap |
Sales Of Real Estate
SalesOfRealEstate
|
-15670000 | ||
| CY2016Q2 | us-gaap |
Security Deposit Liability
SecurityDepositLiability
|
362158 | |
| CY2015Q4 | us-gaap |
Security Deposit Liability
SecurityDepositLiability
|
483556 | |
| CY2016Q2 | us-gaap |
Supplemental Unemployment Benefits Severance Benefits
SupplementalUnemploymentBenefitsSeveranceBenefits
|
677100 | |
| us-gaap |
Use Of Estimates
UseOfEstimates
|
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 18pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">C. Management Estimates – In preparing the consolidated financial statements in conformity with GAAP and the liquidation basis of accounting, management is required to make estimates and assumptions that affect the reported amounts of assets, including net assets in liquidation, and liabilities and disclosure of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of income and expense for the reporting period. Actual results could differ from those estimates.</div></div></div></div></div></div></div></div></div></div> |
