Note 14 - Fair Value of Financial Instruments

6 Months Ended

Jun. 30, 2014

Fair Value Disclosures [Abstract]

Fair Value Disclosures [Text Block]

14. Fair Value of Financial Instruments

The carrying values and fair values of the Company’s financial instruments were as follows (in thousands):

	June 30, 2014				December 31, 2013
	Carrying value		Fair value		Carrying value		Fair value
Cash and cash equivalents	$	5,854	$	5,854	$	1,031	$	1,031
Notes receivable, non-current, related party	$	8,450	$	8,450	$	-	$	-
Notes receivable, current	$	-	$	-	$	8,450	$	8,450
Notes receivable, noncurrent	$	13,668	$	13,668	$	13,668	$	13,668
Line of credit	$	-	$	-	$	4,250	$	4,250
Convertible bond	$	1,369	$	1,369	$	-	$	-

The following methods were used to estimate the fair values of other financial instruments:

Cash and cash equivalents. The carrying amount approximates fair value because of the short maturity of the instruments. The fair value for Cash and cash equivalents were classified in Level 1 of the fair value hierarchy.

Notes receivable, current, Notes receivable, non-current, related party and Notes receivable, noncurrent. The fair value of Notes receivable, current and Notes receivable, non-current, related party were based on anticipated cash flows, which approximates carrying value, and were classified in Level 2 of the fair value hierarchy. The fair value of Notes receivable, noncurrent was classified in Level 3 of the fair value hierarchy. The Company used multiple techniques, including an income approach applying discounted cash flows approach, to measure the fair value using Level 3 inputs; the results of each technique have been reasonably weighted based upon management’s judgment applying qualitative considerations to determine the fair value at the measurement date.

Line of credit and Convertible bond. The carrying amount of the Line of credit approximated fair value due to the short maturity and its variable market rate of interest that changes with current Prime or LIBOR rate and no change in counterparty credit risk. The Line of credit was classified in Level 2 of the fair value hierarchy. The carrying amount of the Convertible bond approximated fair value due to the short term maturity. The Convertible bond was classified in Level 2 of the fair value hierarchy