Note 5 - Personal Injury Claims Funding

3 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Personal Injury Claims [Text Block]

Note

5

-

Personal Injury Claims Funding

Simia and Sylvave

As of

December 31, 2019,

Simia had a personal injury claims portfolio of

$1.1

million, and recognized revenue for the

three

months then ended of

$16,000.

  As of

September 30, 2019,

Simia had a personal injury claims portfolio of

$1.3

million, and recognized revenue of

$15,000

for the

three

months ended

December 31, 2018.  

 As of

December 31, 2019,

Sylvave had a personal injury claims portfolio of

$3.1

million, and recognized revenue for the

three

months then ended of

$346,000.

 As of

September 30, 2019,

Sylvave had a personal injury claims portfolio of

$3.7

million, and recognized revenue of

$699,000

for the

three

months ended

December 31, 2018. 

Simia and Sylvave remain in operation to continue to collect on their outstanding personal injury claim portfolios, but will

not

be funding any new advances to claimants.

Arthur

Funding

Arthur Funding began funding advances on personal injury claims in

May 2019.

As of

December 31, 2019,

Arthur Funding had a personal injury claims portfolio of

$0.3

million, and recognized revenue for the

three

months then ended of

$14,000.

As of

September 30, 2019,

Arthur Funding had a personal injury claims portfolio of

$0.2

million, and

no

revenue was recognized for the

three

months ended

December 31, 2018.  

The following tables summarize the changes in the balance sheet account of personal injury claim portfolios held by Simia, Sylvave and Arthur Funding, net of reserves, for the following periods: 

	December 31, 2019			December 31, 2018
Balance, beginning of period	$	5,190,000		$	10,745,000
Personal claim advances		49,000			–
(Write offs) recoveries		302,000			(203,000	)
Personal injury claims income		376,000			713,000
Personal injury claims receipts		(1,384,000	)		(2,442,000	)
Balance, end of period	$	4,533,000		$	8,813,000

 The Company recognized personal injury claims income of

$0.4

million and

$0.7

million for the

three

months ended

December 31, 2019

and

2018,

respectively. The Company has recorded a net reserve against its investment in personal injury claims of

$1.1

million as of

December 31, 2019

and

$1.2

million as of

September 30, 2019.