0001214659-18-002347.txt : 20180326 0001214659-18-002347.hdr.sgml : 20180326 20180326163839 ACCESSION NUMBER: 0001214659-18-002347 CONFORMED SUBMISSION TYPE: 10-K PUBLIC DOCUMENT COUNT: 63 CONFORMED PERIOD OF REPORT: 20171231 FILED AS OF DATE: 20180326 DATE AS OF CHANGE: 20180326 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Wright Investors Service Holdings, Inc. CENTRAL INDEX KEY: 0001279715 STANDARD INDUSTRIAL CLASSIFICATION: INVESTMENT ADVICE [6282] IRS NUMBER: 134005439 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-50587 FILM NUMBER: 18713141 BUSINESS ADDRESS: STREET 1: 100 SOUTH BEDFORD ROAD, SUITE 2R CITY: MOUNT KISCO STATE: NY ZIP: 10549 BUSINESS PHONE: (914) 242-5700 MAIL ADDRESS: STREET 1: 100 SOUTH BEDFORD ROAD, SUITE 2R CITY: MOUNT KISCO STATE: NY ZIP: 10549 FORMER COMPANY: FORMER CONFORMED NAME: NATIONAL PATENT DEVELOPMENT CORP DATE OF NAME CHANGE: 20040211 10-K 1 w31918010k.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-K

(Mark One)

☒	ANNUAL REPORT UNDER SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2017

☐	TRANSITION REPORT UNDER SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ________ to _______

Commission file Number: 000-50587

WRIGHT INVESTORS’ SERVICE HOLDINGS, INC.

(Exact Name of Registrant as Specified in Its Charter)

Delaware		13-4005439
(State or Other Jurisdiction of Incorporation or Organization)		(IRS Employer Identification Number)

	177 West Putnam Avenue, Greenwich, CT 06830
	(Address of Principal Executive Offices, including Zip Code)

	(914) 242-5700
	(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:		None

Securities registered pursuant to Section 12(g) of the Act:		Common Stock, $0.01 Par Value
		(Title of Class)

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.
Yes ☐ No ☒

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act.
Yes ☐ No ☒

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☒ No ☐

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. ☒

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or, an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer”, “smaller reporting company”, and “emerging growth company”, in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☐		Accelerated filer ☐
Non-accelerated filer ☐		Smaller reporting company ☒
(Do not check if smaller reporting company)		Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
Yes ☐ No ☒

The aggregate market value of the registrant’s common stock held by non-affiliates of the registrant, computed by reference to the price at which the common stock was last sold, or the average bid and asked price of such common stock, as of the last business day of the registrant’s most recently completed second quarter, is 6,000,000.

As of March 5, 2018, 19,376,070 shares of the registrant’s common stock were outstanding.

Part III of this report incorporates certain information by reference from the registrant’s proxy statement for the annual meeting of stockholders, which proxy statement will be filed no later than 120 days after the close of the registrant’s fiscal year ended December 31, 2017.

TABLE OF CONTENTS

		Page

	PART I
Item 1.	Business	2
Item 1A.	Risk Factors	7
Item 1B.	Unresolved Staff Comments	15
Item 2.	Properties	15
Item 3.	Legal Proceedings	15
Item 4.	Mine Safety Disclosures	16

	PART II

Item 5.	Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities	16
Item 6.	Selected Financial Data	16
Item 7.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	17
Item 7A.	Quantitative and Qualitative Disclosures About Market Risk	21
Item 8.	Financial Statements and Supplementary Data	22
Item 9.	Changes in and Disagreements with Accountants on Accounting and Financial Disclosure	39
Item 9A.	Controls and Procedures	39
Item 9B.	Other Information	39

	PART III
Item 10.	Directors, Executive Officers and Corporate Governance	40
Item 11.	Executive Compensation	40
Item 12.	Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters	40
Item 13.	Certain Relationships and Related Transactions, and Director Independence	40
Item 14.	Principal Accounting Fees and Services	40

	PART IV

Item 15.	Exhibits, Financial Statement Schedules	41

SIGNATURES		42

Cautionary Statement Regarding Forward-Looking Statements

This Annual Report on Form 10-K contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward looking statements. Forward-looking statements are not statements of historical facts, but rather reflect our current expectations concerning future events and results. The words “may,” “will,” “anticipate,” “should,” “would,” “believe,” “contemplate,” “could,” “project,” “predict,” “expect,” “estimate,” “continue,” and “intend,” as well as other similar words and expressions of the future, are intended to identify forward-looking statements.

These forward-looking statements generally relate to our plans, objectives and expectations for future events and include statements about our expectations, beliefs, plans, objectives, intentions, assumptions and other statements that are not historical facts. These statements are based upon our opinions and estimates as of the date they are made. Although we believe that the expectations reflected in these forward-looking statements are reasonable, such forward-looking statements are subject to known and unknown risks and uncertainties that may be beyond our control, which could cause actual results, performance and achievements to differ materially from results, performance and achievements projected, expected, expressed or implied by the forward-looking statements. While we cannot assess the future impact that any of these differences could have on our business, financial condition, results of operations and cash flows or the market price of shares of our common stock, the differences could be significant. You are cautioned not to unduly rely on such forward-looking statements when evaluating the information presented in this report.

Factors that may cause actual results to differ from historical results or those results expressed or implied, include, but are not limited to, those listed below under Item 1A. “Risk Factors”, which include, without limitation, the risk that the expected benefits of the merger with The Winthrop Corporation that was completed on December 19, 2012 may not be achieved and may therefore make an investment in Wright Investors’ Service Holdings, Inc.’s securities less attractive to investors.

If this or other significant risks and uncertainties occur, or if our estimates or underlying assumptions prove inaccurate, actual results could differ materially. You are urged to consider all such risks and uncertainties. In light of the uncertainty inherent in such forward-looking statements, you should not consider their inclusion to be a representation that such forward-looking matters will be achieved.

Additional information concerning the factors that could cause actual results to differ materially from those in the forward-looking statements is contained in Item 1. “Business”, Item 7. “Management’s Discussion and Analysis of Financial Condition and Results of Operations”, and elsewhere in this Annual Report on Form 10-K and in our other filings with the Securities and Exchange Commission (the “SEC”). We undertake no obligation to publicly revise any forward-looking statements or cautionary factors, except as required by law.

PART I

Item 1. Business.

General Development of Business

Wright Investors’ Service Holdings, Inc. (formerly National Patent Development Corporation) (the “Company”, “Wright Holdings”, “we” or “us”) was incorporated on March 10, 1998 as a wholly-owned subsidiary of GP Strategies Corporation (“GP Strategies”) and in November 2004, the Company’s common stock was spun-off to holders of record of GP Strategies common stock and GP Strategies Class B capital stock. The Company’s common stock is quoted on the OTC Pink Sheets and is traded under the symbol “WISH”.

Historically, the Company had owned a home improvement distribution business through its then wholly-owned subsidiary Five Star Products, Inc. (“Five Star Products”). The Company with a substantial portion of its assets consisting of cash and cash equivalents, also owned, and continues to own, certain non-strategic assets, primarily consisting of certain real estate. (each as described herein).

On January 15, 2010, we completed the sale (the “Five Star Sale”) to The Merit Group, Inc. (“Merit”) of all of the issued and outstanding stock (the “Five Star Stock”) of our wholly-owned subsidiary, Five Star Products, the holding company and sole stockholder of Five Star Group, Inc. (“Five Star Group”), for cash pursuant to the terms and subject to the conditions of the Stock Purchase Agreement between the Company and Merit, dated as of November 24, 2009. As used herein, references to “Five Star” refer to Five Star Products or Five Star Group, or both, as the context requires.

Nature of Our Business Following the Five Star Sale

Our Board of Directors considered strategic uses for the Five Star Sale proceeds including, without limitation, using such funds, together with other funds of the Company, to develop or acquire interests in one or more operating businesses. While we have focused our development or acquisition efforts on sectors in which our management has expertise, we did not wish to limit ourselves to, or to foreclose any opportunities in, any particular industry or sector.

On December 19, 2012, (the “Closing Date’) the Company, completed the merger (the “Merger”) of a wholly-owned subsidiary of the Company (“MergerSub”) with and into The Winthrop Corporation, a Connecticut corporation (“Winthrop”), pursuant to that certain Agreement and Plan of Merger (the “Merger Agreement”) dated June 18, 2012. As more fully described below, substantially all of the Company’s business operations are carried out through Winthrop and its subsidiaries, the Wright Companies.

Prior to this use, the Five Star Sale proceeds have been, and we anticipate will continue to be, invested in high-grade, short-term investments (such as cash and cash equivalents) consistent with the preservation of principal, maintenance of liquidity and avoidance of speculation, until such time as we need to utilize such funds, or any portion thereof, for the purposes described above. We have not distributed, and do not anticipate distributing, the proceeds of the Five Star Sale to our stockholders.

Overview

The Company’s assets currently consist of its 100% ownership interest in Winthrop, and cash and cash equivalents, which were $6,018,000 at December 31, 2017. The Company intends to use its remaining cash and cash equivalents to acquire interests in one or more operating businesses in the asset management space that it believes will be synergistic with Winthrop and to fund the Company’s general and administrative expenses.

The Company continues to own certain non-strategic assets, which are primarily interests in land and flowage rights in undeveloped property in Killingly, Connecticut.

The Company monitors these investments for impairment by considering current factors, including the economic environment, market conditions, operational performance and other specific factors relating to the business underlying the investment, and records impairments in carrying values when necessary.

Substantially all of the Company’s business operations are carried out through Winthrop and its subsidiaries, the Wright Companies, as described below.

The Winthrop Business

Overview

Winthrop, through its wholly-owned subsidiaries Wright Investors’ Service, Inc. (“Wright”), Wright Investors’ Service Distributors, Inc. (“WISDI”) and Wright’s wholly-owned subsidiary, Wright Private Asset Management, LLC (“WPAM”) (collectively, the “Wright Companies”), offers investment management services, financial advisory services and investment research to large and small investors, both taxable and tax exempt. For more than 50 years, the Wright Companies have assisted institutions, plan sponsors, bank trust departments, trust companies and individual investors in achieving their financial objectives. The management approach is to invest assets prudently by balancing risk and return.

Investment Management Services

At the center of the Wright Companies’ investment process is the Wright Investment Committee. The Committee consists of a select group of senior investment professionals who are supported by an experienced staff. This staff provides multilevel analyses of the economy and investment environments. Their analysis includes a report and projection of corporate earnings and interest rates and an assessment of the impact of the economic forecasts on market sectors, individual securities and client portfolios.

Wright markets its investment management products and services to plan sponsors, trade unions, endowments, corporations, state and local governments, municipalities and foundations. The Wright products include equity, fixed income and balanced portfolios for various plan types, including defined benefit, annuity, self-directed and 401(k), health and welfare and education and training plans. In addition, Wright helps bank trust departments and trust companies satisfy part or all of their investment management functions. Wright delivers fiduciary level investment management services to these institutions’ clients by providing active oversight of each account's asset allocation and security selection. Its offerings include investment management solutions utilizing individual securities or mutual funds. Mutual fund models developed by Wright utilize a combination of Wright Mutual Funds as well as mutual funds from other investment managers.

WPAM offers programs to support high net worth investors and other individual investors. WPAM manages a variety of accounts including: discretionary investment accounts, individual retirement accounts (IRAs), 401k plans and accounts for non-corporate fiduciaries, such as trustees, executors, guardians, personal representatives, attorneys and other professionals who are responsible for the assets of others and must manage those assets in accordance with the Prudent Investor Act. This investment process, developed and monitored by the Wright Investment Committee, and related investment strategies, are utilized to address the objectives of WPAM clients.

Wright-Managed Mutual Funds

Wright, through its WISDI affiliate, offers a diversified family of mutual funds. Wright Mutual Funds are utilized by the Wright Companies and others to build or supplement managed investment portfolios designed to address clients’ financial objectives. Following is a brief description of the four Wright-managed mutual funds.

Wright Major Blue Chip Fund (WQCEX). The fund invests primarily in larger companies on the Approved Wright Investment List (“AWIL”) which meet or exceed the fundamental standards of investment quality established by Wright, or are leaders in their industry, and which have a superior investment outlook. The fund’s investment objective is long-term total return consisting of price appreciation plus income. The fund’s benchmark is the S&P 500 index.

Wright Selected Blue Chip Fund (WSBEX). The fund invests primarily in mid-cap companies on AWIL which meet or exceed the fundamental standards of investment quality established by Wright, or are leaders in their industry, and which have a superior investment outlook. The fund’s investment objective is long-term total return consisting of price appreciation plus income. The fund’s benchmark is the S&P 400 index.

Wright International Blue Chip Equities Fund (WIBCX). The fund invests in well-established non-U.S. companies that meet strict quality standards. The fund may purchase equity securities traded on foreign exchanges or traded in the U.S. through American Depository Receipts (ADRs). The fund’s investment objective is long-term total return consisting of price appreciation plus income. The fund’s benchmark is the MSCI Developed World ex-U.S. Index.

Wright Current Income Fund (WCIFX). The fund invests in mortgage pass-through securities of the Government National Mortgage Association (GNMA) and may invest in other debt obligations issued or guaranteed by the U.S. government or any of its agencies. The fund’s investment objective is a high level of current income consistent with moderate fluctuations of principle. The fund’s benchmark is the Barclay’s GNMA index.

Research Products

Winthrop, doing business as Wright Investors’ Service, was originally founded as a research organization in 1960. Winthrop develops and publishes investment research reports on over 35,000 companies worldwide along with its established investment commentaries on the economy and investment markets. The main components of Winthrop’s research products consist of fundamental company data and the proprietary Wright Quality Ratings®. The Winthrop developed research products are marketed primarily to institutional investors. These reports are primarily distributed through investment industry distributors such as Thomson Reuters, CapitalIQ and FactSet Research Systems, and to Winthrop’s own investment management clients.

The primary investment research products provided for sale and distribution by Winthrop to investors are:

1. Wright Reports. A comprehensive research report with up to ten years of fundamental information that is presented in a consistent (i.e. unified) format for over 35,000 companies in 63 countries.

2. One-Page Report. A concise company specific single page report with up to ten years of history that contains valuation ratios, earnings and dividends.

3. Wright Industry Averages Reports. Consolidated reports prepared on a Global and Regional basis for a select number of industries. Data for the companies that comprise the industry composites are extracted from the Wright Reports’ data files for the underlying companies.

4. CorporateInformation.com. An online commercial website which offers subscription access to the entire universe of Wright Reports. A single company report can also be purchased on the website.

5. Wright Fiduciary Lists. Winthrop produces and markets, as part of Winthrop’s Research Service, the AWIL and Supplemental List. AWIL consists of those domestic and international companies that meet Wright’s investment quality standards. The Supplemental List contains other domestic and international companies that are fiduciary grade but fail to meet certain of Wright’s AWIL standards. The research package, in addition to the fiduciary lists, includes economic and investment market reports plus access to the universe of companies contained in CorporateInformation.com. Also included is Winthrop’s concise One-Page Report.

6. Wright FIRST Investment Research Service. Winthrop offers WrightFIRST as a valuable financial management service to Portfolio, Trust and Investment Professionals. WrightFIRST is uniquely designed to facilitate portfolio management, support compliance and regulatory reporting, and enhance business development and client servicing.

Competition

The investment advisory, investment management and investment research industries are highly competitive. There are few barriers to entry for new firms, and consolidation within the industry continues to alter the competitive landscape. We continuously encounter competitors in the marketplace who offer similar investment strategies and services. Although no one company dominates the asset management industry, many companies are larger, better known and have greater resources than we do. We compete with a large number of global and U.S. investment advisers, commercial banks, broker/dealers, insurance companies and other financial institutions. Many of our competitors offer more investment strategies and services than we do and have substantially greater assets under management.

We compete primarily on the basis of investment philosophy, investment performance, range of investment strategies and features, reputation, quality of client service, fees charged, the level and type of compensation offered to key employees, and the manner in which investment strategies are marketed. We believe that our investment style, investment strategies, and distribution channels enable us to compete effectively in our industry. While we believe we will continue to be successful in growing our assets under management (“AUM”), it may be necessary to expend additional resources to compete effectively. Our competitive success will depend upon our ability to develop and market investment strategies, adopt or develop new technologies, and continue to expand our relationships with existing clients and attract new clients. Our ability to compete also depends on our ability to attract and retain key employees while managing our compensation and other costs.

Customers

Our investment advisory client base consists of a large number of geographically diverse clients across many industries. We provide investment management services to a broad range of clients, including mutual funds, retirement plans, public pension funds, endowments, foundations, financial institutions and high net worth individuals. We strive to expand our client base by attracting new clients and earning additional business from our existing clients. As of December 31, 2017, no single client’s assets managed by us represented more than 10% of our AUM.

Our client base for research services consists of individuals and companies who access our reports through various distributors or through our own website, www.corporateinformation.com. For the year ended December 31, 2017, approximately 63% of our research revenue has been derived from Thomson Reuters.

Intellectual Property

We maintain a number of trademarks, copyrights, trade secrets and licenses to intellectual property owned by others. Our trademarks relate to our company names and certain products we provide and expire at various dates ranging from 2018 to 2028. Although in aggregate our intellectual property is important to our operations, we do not consider any single trademark, copyright, trade secret or license to be of material importance to any segment or to our business as a whole.

Governmental Regulations

Our business is subject to various federal and state laws and regulations. Under these laws and regulations, agencies that regulate investment advisers have broad administrative powers, including the power to limit, restrict or prohibit an investment adviser from carrying on its business in the event the adviser fails to comply with such laws and regulations. Possible sanctions that may be imposed include civil and criminal liability, the suspension of individual employees, limitations on engaging in certain lines of business for specified periods of time, revocation of investment adviser and other registrations, censures and fines.

Each of Winthrop, Wright and WPAM is registered as an investment adviser with the U.S. Securities and Exchange Commission (the “SEC”). As SEC registered investment advisers, Winthrop, Wright and WPAM are subject to the requirements of the Investment Advisers Act of 1940, as amended (the “Investment Advisers Act”), the SEC’s regulations thereunder, and examination by the SEC. Requirements relate to, among other things, fiduciary duties to clients, engaging in transactions with clients, disclosure obligations, record keeping and reporting obligations, and general anti-fraud prohibitions. Moreover, in Wright’s role as the investment advisor to mutual funds, Wright is subject to the requirements of the Investment Company Act of 1940, as amended (the “Investment Company Act”), the SEC’s regulations thereunder, and examination by the SEC. The Investment Company Act regulates the relationship between a mutual fund and its investment adviser and imposes obligations, including detailed operational requirements for both the funds and their advisers, which are in addition to those imposed by the Investment Advisers Act. Additionally, an investment adviser’s advisory agreement with a registered fund may be terminated by the fund on not more than 60 days’ notice, and is subject to renewal annually by the fund’s board after an initial two-year term.

Under the Investment Advisers Act, investment advisory agreements may not be assigned without the client’s consent. Under the Investment Company Act, investment advisory agreements with registered funds, such as the funds that Wright advises, terminate automatically upon assignment. The term “assignment” is broadly defined and includes direct assignment as well as assignments that may be deemed to occur, under certain circumstances, upon the transfer, directly or indirectly, of a controlling interest in Wright. The SEC is authorized to institute proceedings and impose sanctions for violations of the Investment Advisers Act and the Investment Company Act, ranging from fines and censures to termination of an investment adviser’s registration. The failure of the Wright Companies, or the registered funds for which Wright serves as the investment adviser, to comply with the requirements of the SEC could have a material adverse effect on us.

To the extent that any of the Wright Companies is a “fiduciary” under the Employment Retirement Act of 1974, as amended (“ERISA”) with respect to benefit plan clients, it is subject to the requirements of ERISA, and to regulations promulgated by the U.S. Department of Labor thereunder. ERISA and applicable provisions of the Internal Revenue Code of 1986, as amended (the “Internal Revenue Code”), impose certain duties on persons who are fiduciaries under ERISA, prohibit certain transactions involving ERISA plan clients, and provide monetary penalties for violations of these prohibitions. Failure to comply with these requirements could have a material adverse effect on our business.

Our subsidiary, WISDI is registered as a broker/dealer with the SEC and is a member of FINRA. As a registered broker/dealer, WISDI is subject to the regulation by the SEC. However, much of the regulation of broker/dealers has been delegated to self-regulatory organizations, primarily FINRA. These self-regulatory organizations adopt rules, subject to approval by the SEC, which govern their members and conduct periodic examinations of member firms’ operations. Broker/dealers are also subject to regulation by state securities commissions in the states in which they are registered.

Our trading activities for client accounts are regulated under the Exchange Act, as well as the rules of various U.S. and non-U.S. securities exchanges and self-regulatory organizations, including laws governing trading on inside information, market manipulation and a broad number of trading requirements (e.g., volume limitations and reporting obligations) and market regulation policies in the United States and abroad.

The preceding descriptions of the regulatory and statutory provisions applicable to us are not complete and are qualified in their entirety by reference to their respective statutory or regulatory provisions.

Regulatory Reform

On July 21, 2010, the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “DFA”) was signed into law in the United States. The DFA is expansive in scope and requires the adoption of extensive regulations and numerous regulatory decisions in order to be implemented. The ultimate adoption of these regulations and decisions will determine the impact of the DFA on us. It is difficult to predict the ultimate effects that the DFA, or subsequent implementing regulations and decisions, will have upon our business and results of operations. The DFA and its regulations, other new laws or regulations, changes in rules promulgated by either the SEC or federal and state regulatory authorities or self-regulatory bodies, or changes in the interpretation or enforcement of existing laws and rules could materially and adversely impact the scope or profitability or our business.

Employees

At December 31, 2017, Winthrop employed 26 full-time employees, including 10 investment management, research and trading professionals, 9 marketing and client service professionals and 7 operations and business management professionals. None of our employees are subject to any collective bargaining agreements.

The Company employed a total of 4 employees at the corporate level as of December 31, 2017, of which all were full-time employees.

Connecticut Property

The Company has interests in land and certain flowage rights in undeveloped property in Killingly, Connecticut with a carrying value of approximately $355,000 which is reflected in the consolidated balance sheets and, which management believes approximates fair value.

Item 1A. Risk Factors.

Risks Related to our Business

As an investment management firm, risk is an inherent part of our business. Global markets, by their nature, are prone to uncertainty and subject participants to a variety of risks. Our business, financial condition, operating results or non-operating results could be materially adversely affected, or our stock price could decline as a result of any of the following risks:

Risks Relating to Wright’s Business and Competition

Our business revenue is dependent on fees earned from the management of client accounts and the distribution of financial and research products and services.

A significant portion of our revenues is derived from fees generated from the investment management of client accounts. Client account terminations or increased investor redemptions would reduce the level of fees collected from the investment management services we provide. Investment management fees received may also decline over time due to factors such as: increased competition, renegotiation of investment advisory agreements and the introduction of new, lower-priced investment products and services. Changes in account market values or in the fee structure of asset management accounts could negatively affect our revenues and our business and financial condition. Asset management fees are typically based on the level of assets under management, which in turn are affected by the net inflows and outflows of client funds and changes in the market values of securities held. Below average investment performance could result in a loss of managed accounts (and associated fee revenue) and make it more difficult to attract new clients, thus further affecting our business and financial condition. Additionally, in periods of market declines, the level of assets under management may correspondingly decline, resulting in lower fee revenue.

A portion of our revenues is derived from the distribution of financial products, such as mutual funds. Changes in the investment performance, structure or amount of the fees paid by the sponsors of these products could directly affect our revenue and our business and financial condition. Poor service or performance of the financial products that we offer or competitive pressures on pricing of such services or products may result in the loss of accounts and related revenue. We must also monitor the pricing of our services and financial products in relation to our competitors. On a periodic basis there may be a need to adjust our fee structure in order to remain competitive. Competition from other financial services firms could adversely impact our business. The decrease in revenue that could result from any of the events described in this paragraph could have a material adverse effect on our business. Effective October 1, 2017, the Boards of Trustees of The Wright Mutual Funds approved the elimination of the Rule 12b-1Distribution Plan and shareholder services fee applicable to each Fund. As a result, The Wright Mutual Fund shareholders will no longer pay a 12b-1 fee or shareholder services fee.

Revenues are also derived from the distribution of investment research directly and through several third parties who act as distributors of such research content. The fees paid by the end client are divided between Winthrop and the distributor. Existing agreements in place with third party distributors, primarily Thomson Reuters, allow for the renegotiation of the revenue split, which could result in a decline in revenue to Winthrop. See “Management’s Discussion and Analysis- Revenue- Revenue from Financial research and related data.” The underlying data we utilize to produce our financial research and related data is primarily obtained from a third-party, Worldscope/Disclosure LLC (“Worldscope”), which is owned by Thomson Reuters, which was at no cost to us through August 2014. The Company concluded negotiations with Thomson Reuters in July 2014 and commenced paying for the updates in August 2014 at the most favored vendor rate. The agreement expires in 2024.

Our investment advisory contracts may be terminated or may not be renewed by clients, and clients may withdraw assets from our management.

Separate account clients may terminate their investment advisory contracts with the Wright Companies or withdraw funds on short notice and investors in Wright’s mutual funds may withdraw on a daily basis. The Wright Companies have, from time to time, lost separate accounts and could, in the future, lose accounts or significant assets due to various circumstances, such as adverse market conditions or poor performance.

Additionally, Wright manages its U.S. mutual funds under investment advisory agreements with the funds that must be renewed and approved by the funds’ boards of trustees annually after an initial two-year term. A majority of the trustees of each such fund’s board of trustees are independent from us. Consequently, there can be no assurance that the board of trustees of each fund managed by Wright will approve the fund’s investment advisory agreement each year, or will not condition its approval on the terms of the investment advisory agreement being revised in a way that is adverse to Wright.

We rely on outsourced service providers to perform key functions.

We rely on outsourced service providers to perform certain key technology, processing support and administrative functions. If we need to replace any of these service providers, we believe we have the resources to make such transitions with minimal disruption; however, it is difficult to accurately predict the expense and time that would be required

We may be exposed to litigation and reputational risks due to misconduct or errors by our employees or advisors.

Many aspects of our business involve substantial liability risks, arising from our normal course of operations. Risks associated with potential litigation are often difficult to assess or quantify. The existence and magnitude of potential claims often remain unknown for significant periods of time. We cannot dismiss the possibility of misconduct and errors committed by our employees and advisors. Precautions that we take to prevent and detect these activities may not be effective in all cases. There is also the possibility that employees may not fully understand our clients’ needs or risk tolerances. Such failures, for example, may result in the recommendation or purchase of a portfolio of assets that is not suitable for the client. To the extent we fail to know a client’s objectives or improperly advise it, we could be found liable for losses or unrealized gains anticipated by the client. Such occurrences could harm our reputation and profitability and result in financial loss (some or all of which is not covered by insurance policies). When clients retain us to manage assets or provide products or services on their behalf, they often specify guidelines or contractual requirements that we are required to observe in the provision of our services. A failure to comply with these guidelines or contractual requirements could result in damage to our reputation or in our clients seeking to recover losses, withdrawing their assets or terminating their contracts with us, any of which could cause Wright’s revenues and earnings to decline. Misconduct and errors by our employees and our advisors could potentially result in legal violations by us, regulatory sanctions and serious reputational and/or financial harm. There cannot be complete assurance that misconduct and errors by our employees and advisors will not result in a material adverse effect on our business.

Maintaining our reputation is critical to the maintenance and acquisition of clients, fund investors and employees. Failure or perception of failure in dealing with reputational issues could seriously harm our business prospects. These issues include, but are not limited to, potential conflicts of interest, legal and regulatory requirements, ethical issues, money-laundering, privacy, record-keeping, sales and trading practices, and the proper identification of the legal, reputational, credit, liquidity, and market risks inherent in our products. Any negative publicity that may arise from any of such issues may also result in diminished business prospects.

Our risk management policies and procedures may leave us exposed to unidentified or unanticipated risks, including risks from conflicts of interest.

We manage, monitor and control our operational, legal and regulatory risk through operational and compliance reporting systems, internal controls, management review processes and other mechanisms. There can, however, be no assurance that our procedures will be completely effective. Furthermore, our risk management methods may not effectively predict future risk exposures, which could be significantly greater than in the past. A failure to adequately manage our growth, or to effectively manage our risk, could materially and adversely affect our business and financial condition.

Our risk management processes include procedures and controls, currently in place, to address conflicts of interest that may arise in our business. The failure, real or perceived, to adequately address conflicts of interest could affect our reputation, the willingness of clients to transact business with us and/or give rise to litigation or regulatory actions. There can be no assurance that conflicts of interest that may arise will not cause material harm.

Inadequacy or disruption of our disaster recovery plans and procedures in the event of a catastrophe could adversely affect our business.

Our principal operations are located in Greenwich Connecticut. While we have a business continuity and disaster recovery plan, our operations could be adversely affected by hurricanes, snowstorms or other serious weather conditions, breach of security, loss of power, telecommunications failures, terrorist or other natural or man-made events that could affect the processing of transactions, communications and the ability of our associates to work effectively in our offices or elsewhere. A catastrophic event could have a direct material adverse effect on our business by adversely affecting our employees or facilities, or an indirect impact on our business by adversely affecting the financial markets or the overall economy. If our business continuity and disaster recovery plans and procedures were disrupted or unsuccessful in the event of a catastrophe, we could experience a material adverse interruption of our operations.

Our businesses depend on technology.

Our businesses rely extensively on electronic data processing and communications systems. The effective use of technology increases efficiency and enables the firm to reduce costs while providing service to our clients. Adapting or developing our technology systems to meet new regulatory requirements, client needs, and competitive threats is critical for our business. Introducing technological upgrades can be challenging, and there are significant technical and financial costs and risks related to the development or adoption of new technology, including that we may be unable to use new technologies effectively or modify our applications to meet changing industry standards.

Our continued success will depend, in part, upon our ability to successfully maintain and upgrade the capability of our systems. Our technology systems must keep pace with the needs of our clients and we must maintain a work environment that will allow us to attract and retain skilled information technology professionals. Failure of our systems, which could result from events beyond our control, or an inability to effectively upgrade those systems or implement new technology-driven products or services, could result in financial losses, liability to clients and damage to our reputation.

Our operations rely on the secure processing, storage and transmission of confidential and other information. While we take protective measures and endeavor to modify our systems as circumstances warrant, the computer systems, software and networks may be vulnerable to human error, natural disasters, power loss, spam attacks, unauthorized access, distributed denial of service (“DDOS”) attacks, computer viruses and other malicious code and other disruptive events that could impact security and/or continuity of service. The occurrence of one or more of these events could compromise our own or our clients’ or counterparties’ confidential and other information processed, stored in and transmitted through our computer systems and networks. It is also possible that these occurrences could cause interruptions or malfunctions in our own, our clients’, our counterparties’ or third parties’ operations or systems. We may need to expend significant resources to analyze and strengthen our protective systems and safeguards against existing and developing threats. Additionally we may be subject to litigation and financial loss some or all of which is not covered by insurance policies as a result of one or more of these events.

Growth of our business could increase our costs and subject us to regulatory risks.

We may incur significant expenses related to the organic growth of our existing businesses or due to the integration of strategic acquisitions or investments that might arise from time to time. Our overall profitability would be negatively affected if the expenditures associated with such growth do not generate sufficient revenue to offset these costs.

Organizational growth may also create a need for additional compliance, documentation, risk management and internal control procedures. We may need to hire additional personnel to monitor such procedures. If our personnel or such procedures are not adequate to appropriately monitor business growth, we could be exposed to a material loss or possible regulatory sanctions.

We face intense competition.

We are engaged in a highly competitive industry. We compete on the basis of a number of factors, including the ability of our investment professionals and associates to perform, the quality of our products and services, and our reputation in various markets. To remain competitive, our future success also depends in part on our ability to develop and enhance our products and services. Additionally, the adoption of new internet, networking and telecommunication technologies could require us to incur substantial expenditures to enhance or adapt our products, services or infrastructure. An inability to develop new products and services, or enhance existing offerings, could have a material adverse effect on profitability.

Over time there has been substantial consolidation and convergence among companies in the financial services industry which has significantly increased the capital base and geographic reach of our competitors. Our ability to develop and retain our client base depends on the reputation, judgment, business generation capabilities and skills of our employees. Competition for personnel within the financial services industry is intense. There can be no assurance that we will be successful in our efforts to recruit and retain required personnel. As competition for skilled professionals in the industry increases, we may have to devote significantly more resources to attract and retain qualified personnel. This investment could have an adverse effect on our profitability, liquidity and financial condition. Additionally, our success is dependent in large part upon the services of several senior executives. If any of our senior executives should terminate their employment and we are unable to find suitable replacements promptly, our business and operational results may be detrimentally impacted.

Legal and Regulatory Risks

Failure to comply with capital requirements could subject us to suspension, revocation or fines by the SEC, FINRA or other regulators.

Our subsidiary, WISDI, is registered as a broker-dealer under the Exchange Act and is subject to regulation by FINRA, the SEC and various state agencies. Among other regulations, WISDI is subject to the SEC’s net capital rule, which requires a broker-dealer to maintain a minimum level of net capital. The particular level varies depending upon the nature of the activity undertaken by a firm. At December 31, 2017, WISDI exceeded its minimum net capital requirement. The net capital rule is designed to enforce minimum standards regarding the general financial condition and liquidity of a broker-dealer. In computing net capital, various adjustments are made to net worth which excludes assets not readily convertible into cash. The rule also requires that certain assets, such as a broker-dealer’s position in securities, be valued in a conservative manner to avoid over-inflation of the broker-dealer’s net capital. A significant operating loss or any charge against net capital could adversely affect the ability of our broker-dealer to expand, or depending on the magnitude of the loss or charge, maintain its then present level of business. FINRA may enter the offices of a broker-dealer at any time, without notice, and calculate the firm’s net capital. If the calculation reveals a net capital deficiency, FINRA may immediately restrict or suspend some or all of the broker-dealer’s activities. Our broker-dealer subsidiary may not be able to maintain adequate net capital, or its net capital may fall below requirements established by the SEC and subject us to disciplinary action in the form of fines, censure, suspension, expulsion or the termination of business altogether. Under certain circumstances, the net capital rule may limit our ability to make withdrawals of capital and receive dividends from WISDI.

We operate in a highly regulated industry and our failure to comply with regulatory requirements could subject us to penalties and sanctions which could adversely affect our business and financial condition.

The securities industry is subject to extensive regulation. Investment advisors and broker-dealers are subject to regulations covering all aspects of the securities business including, but not limited to, sales and trading methods, use and safekeeping of customers’ funds and securities, anti-money laundering efforts, record keeping and the conduct of directors, officers and employees. If laws or regulations are violated, we could be subject to one or more of the following: civil liability, criminal liability, sanctions which could include the revocation of our subsidiaries’ investment adviser and broker-dealer registrations, the revocation of employee licenses, censures, fines or a temporary suspension or permanent bar from conducting business. Even if laws or regulations are not violated, the applicable regulatory and self-regulatory agencies (such as the SEC and FINRA) may investigate possible violations, which could divert management and monetary resources. Any of those events could have a material adverse effect on our business, financial condition and prospects.

Changes in federal, state or foreign tax laws, or the interpretation or enforcement of existing laws and regulations, could adversely impact operational results. Regulatory actions brought against us may result in judgments, settlements, fines, penalties or other liabilities and could lead to litigation by our clients. These occurrences could have a material adverse effect on our business, financial condition and results of operation or cause us serious reputational harm.

Changes in regulations resulting from either the Dodd-Frank Act or any new regulations may adversely affect our business.

Significant developments in the investment markets and economy over the past several years have led to new legislation and numerous proposals for changes in the regulation of the financial services industry. These proposals include the implementation of substantial additional legislation and regulatory controls in the U.S. and abroad. The Dodd-Frank Act enacted sweeping changes in the supervision and regulation of the financial services industry. These changes were designed to provide for greater oversight of financial industry participants, reduce risk in banking practices and in securities and derivatives trading, enhance public company corporate governance practices and executive compensation disclosures, and provide for greater protection of individual consumers and investors. Certain elements of the Dodd-Frank Act became effective immediately in 2010, while the details of many of the other provisions are subject to additional study and final rule writing by various regulatory agencies. The ultimate impact that the Dodd-Frank Act will have on the Wright Companies, the financial industry and the economy cannot be known until all such rules and regulations called for under the Dodd-Frank Act have been finalized and implemented.

The Dodd-Frank Act may impact the manner in which we market our products and services, manage our business and its operations and interact with regulators. The provisions of this Act when fully implemented could materially impact our results of operations, financial condition and liquidity. The Dodd-Frank Act and other new laws and regulations can be expected to place greater compliance and administrative burdens on the Wright Companies, which likely would increase our expenses without increasing revenues and could adversely impact our business operations. In addition, new regulations could require the Wright funds to reduce the level of certain mutual fund fees paid to Wright or WISDI or require us to bear additional expenses, which would affect our operating results. Further, adverse results of regulatory investigations of mutual fund, investment advisory and financial services firms could tarnish the reputation of the financial services industry generally and mutual funds and investment advisers more specifically, causing investors to avoid further fund investments or redeem their account balances. Redemptions would decrease the assets under management by the Wright Companies, which would reduce our advisory revenues and net income.

Failure to comply with restrictions imposed under ERISA and Internal Revenue Code with respect to certain plans could result in penalties against us.

To the extent that a client is an employee benefit plan that is subject to the fiduciary requirements of Title I of ERISA or a plan or individual retirement account (IRA) that is subject to Section 4975 of the Internal Revenue Code we are subject to the requirements and restrictions imposed by such laws. In particular, to the extent that we act as a fiduciary to such benefit plans and IRAs, we must perform our fiduciary duties for them in accordance with the strict requirements of ERISA and the Internal Revenue Code and must avoid certain transactions that are prohibited under those laws. Our failure to comply with these requirements could subject us to significant liabilities and excise taxes that could have a material adverse effect on our business.

The soundness of other financial institutions and intermediaries could adversely affect us.

We face the risk of operational failure, termination or capacity constraints of any of the broker-dealers or other financial intermediaries that we use to facilitate our securities transactions or that maintain custody of our clients’ assets. As a result of the consolidation over the years by financial intermediaries, our reliance on certain financial institutions has increased. This increased dependence could impair our ability to locate adequate and cost-effective alternatives should the need arise. The failure, termination or constraints imposed by these intermediaries could adversely affect our ability to execute transactions, service our clients and manage our risk exposure.

Our ability to engage in routine trading and funding transactions could be adversely affected by the actions and commercial soundness of other financial institutions. Most financial services institutions are interrelated as a result of trading, clearing, funding, counterparty or other relationships. We have exposure to many investment industry counterparties, through which we routinely execute transactions. These counterparties include: brokers and dealers, commercial banks, mutual funds and others. Consequently, defaults, rumors or disparaging questions about the financial condition of, one or more financial services institutions, or the financial services industry generally, could lead to losses or defaults by us or related institutions. Many of these transactions expose us to credit risk in the event of default or acquisition of our counterparties or clients.

Risks Related to the Company

Risks Related to Strategic Acquisitions and the Integration of Acquired Operations for Wright Holdings

We may be unable to successfully integrate additional acquired businesses into our existing business and operations, which may adversely affect our cash flows, liquidity and results of operations.

The Company may acquire interests in one or more operating businesses in the asset management space that it believes will be synergistic with Winthrop. This strategy may not be effective, and failure to successfully develop and implement this strategy may decrease earnings and harm the Company’s competitive position in the investment management industry. We may not be able to find suitable businesses to acquire at acceptable prices, and we may not be able to successfully integrate or realize the intended benefits from any such acquisitions. In addition, we may issue our stock as consideration for such acquisitions, which could cause the market price for our common stock to decline.

We may be adversely affected if the firms we acquire do not perform as expected.

Even if we successfully complete acquisitions in the asset management space and successfully integrate the acquired businesses, we may be adversely affected if the acquired firms do not perform as expected. The firms we acquire may perform below expectations after the acquisition for various reasons, including the loss of key clients, employees and/or financial advisors after the acquisition closing, general economic factors, the cultural incompatibility of an acquired firm’s management team with us and legislative or regulatory changes that affect the products in which a firm specializes. The failure of firms to perform as expected at the time of acquisition may have an adverse effect on our earnings and revenue growth rates, and may result in impairment charges and/or generate losses or charges to earnings.

We face numerous risks and uncertainties as we expand our business.

We may seek to expand our business through strategic acquisitions. As we expand our business, there can be no assurance that our financial controls, the level and knowledge of our personnel, our operational abilities, our legal and compliance controls and our other corporate support systems will be adequate to manage our business and our growth. The ineffectiveness of any of these controls or systems could adversely affect our business and prospects. In addition, as we acquire new businesses, we face numerous risks and uncertainties integrating their controls and systems into ours, including financial controls, accounting and data processing systems, management controls and other operations. A failure to integrate these systems and controls, and inefficient integration of these systems and controls, could adversely affect our business, cash flows and results of operations.

Risks Related to Owning Wright Holdings Stock

A large portion of our common stock is held by a small group of large shareholders. Future sales of our common stock in the public market by the Company or its large stockholders could adversely affect the trading price of our common stock.

As of December 31, 2017, Bedford Oak Advisors, LLC and GAMCO Investors, Inc. beneficially owned 26.3% and 10.15% of the Company’s common stock, respectively. Bedford Oak Advisors, LLC is controlled by Mr. Harvey P. Eisen, the Company’s Chairman and Chief Executive Officer. Mr. Eisen beneficially owned at such date an aggregate of 27.24% of the Company’s common stock, which percentage includes the 26.3% beneficially owned by Bedford Oak Advisors, LLC. The Company has entered into Investor Rights Agreements with former Winthrop stockholders that received shares of our common stock in connection with the Winthrop transaction. The Investor Rights Agreement is a registration rights agreement, which include both customary demand and “piggyback” registration provisions, allow the respective stockholders to cause us to file one or more registration statements for the resale of their respective shares of the Company’s common stock and cooperate in certain underwritten offerings. Sales by us or our large stockholders of a substantial number of shares of our common stock in the public market pursuant to registration rights or otherwise, or the perception that these sales might occur, could cause the market price of our common stock to decline.

Our common stock is thinly traded, which can cause volatility in its price.

Our stock is thinly traded due to our small market capitalization and the high level of ownership of our common stock by a small group of shareholders. Thinly traded stock can be more susceptible to market volatility. This market volatility could significantly affect the market price of our common stock without regard to our operating performance.

Possible additional issuances of our stock will cause dilution.

At December 31, 2017, we had outstanding 19,146,795 shares of our common stock, which includes 11,710 Restricted Stock Units (“RSUs”) which became fully vested without restrictions on sale in February 2016., In addition, there are options to purchase a total of 550,000 shares of common stock, of which 483,334 are exercisable. In addition, there are 200,000 RSUs of which 133,332 were vested at December 31, 2017. We are authorized to issue up to 30,000,000 shares of common stock and are therefore able to issue additional shares without being required under corporate law to obtain shareholder approval. If we issue additional shares, or if our existing shareholders exercise their outstanding options, our other shareholders may find their holdings drastically diluted, which if it occurs, means they would own a smaller percentage of our Company.

We have agreed to restrictions and adopted policies that could have possible anti-takeover effects and reduce the value of our stock.

Several provisions of our Certificate of Incorporation and Bylaws could deter or delay unsolicited changes in control of the Company. These include provisions limiting the stockholders’ powers to amend the Bylaws and to remove directors; prohibiting the stockholders from increasing the size of the Board of Directors or from filling vacancies on the Board of Directors (unless there are no directors then in office); and prohibiting stockholders from calling special meetings of stockholders or acting by written consent instead of at a meeting of stockholders. Our Board of Directors has the authority, without further action by the stockholders, to fix the rights and preferences of and issue preferred stock. These provisions and others that could be adopted in the future could deter unsolicited takeovers or delay or prevent changes in control or management of the Company including transactions in which stockholders might otherwise receive a premium for their shares over the then current market prices. These provisions may limit the ability of stockholders to approve transactions that they may deem to be in their best interests.

Item 1B. Unresolved Staff Comments.

None.

Item 2. Properties.

In August 2014, the Company entered into a five-year sublease in Greenwich, Connecticut for 10,000 square feet. The current annual rent for the new sublease, which expires on September 30, 2019 is $230,000, subject to 3% annual increases.

Item 3. Legal Proceedings.

On September 26, 2014, the Connecticut Department of Energy and Environmental Protection (“DEEP”) issued two Orders requiring the investigation and repair of two dams in which the Company and its subsidiaries have certain ownership interests. The first Order requires that the Company investigate and make specified repairs to the ACME Pond Dam located in Killingly, Connecticut. The second Order, as subsequently revised by DEEP on October 10, 2014, requires that the Company investigate and make specified repairs to the Killingly Pond Dam located in Killingly, Connecticut. The Company has administratively appealed and contested the allegations in both Orders. On July 27, 2017, the Company entered into a Consent Order with the DEEP relative to Killingly Pond Dam. The consent order requires the Company to continue to perform routine maintenance and administrative procedures, the cost of which is not material to the Company’s financial position or results of operations. As the administrative appeal of the Order relative to ACME Pond Dam remains pending, it is not possible at this time to evaluate the likelihood of, or to estimate the range of loss from, an unfavorable outcome.

Indemnification of Directors and Officers

Section 145 of the Delaware General Corporation Law (the “DGCL”) provides, generally, that a corporation shall have the power to indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding (except actions by or in the right of the corporation) by reason of the fact that such person is or was a director, officer, employee or agent of the corporation against all expenses, judgments, fines and amounts paid in settlement actually and reasonably incurred by such person in connection with such action, suit or proceeding if such person acted in good faith and in a manner such person reasonably believed to be in or not opposed to the best interests of the corporation and, with respect to any criminal action or proceeding, had no reasonable cause to believe his or her conduct was unlawful. A corporation may similarly indemnify such person for expenses actually and reasonably incurred by such person in connection with the defense or settlement of any action or suit by or in the right of the corporation, provided that such person acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the best interests of the corporation, and, in the case of claims, issues and matters as to which such person shall have been adjudged liable to the corporation, provided that a court shall have determined, upon application, that, despite the adjudication of liability but in view of all of the circumstances of the case, such person is fairly and reasonably entitled to indemnity for such expenses which such court shall deem proper.

The Company’s certificate of incorporation and bylaws provide that, subject to limited exceptions and requirements, the Company is required to indemnify its directors and officers, and each person serving at the request of the Company as a director, officer, incorporator, partner, manager or trustee of another entity, to the fullest extent permitted by the DGCL. The Company’s bylaws also provide that, subject to limited exceptions and requirements, the Company is required to advance to such persons expenses (including attorney’s fees) incurred by them in defending and preparing for the defense of any proceeding or investigation in respect of which indemnification may be available.

Section 102(b)(7) of the DGCL provides, generally, that the certificate of incorporation of a corporation may contain a provision eliminating or limiting the personal liability of a director to the corporation or its stockholders for monetary damages for breach of fiduciary duty as a director, provided that such provision may not eliminate or limit the liability of a director (i) for any breach of the director's duty of loyalty to the corporation or its stockholders, (ii) for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law, (iii) under section 174 of Title 8 of the DGCL, or (iv) for any transaction from which the director derived an improper personal benefit. No such provision may eliminate or limit the liability of a director for any act or omission occurring prior to the date when such provision became effective. The Company’s certificate of incorporation contains such a provision limiting the personal liability of the Company’s directors to the extent permitted by the DGCL.

Item 4. Mine Safety Disclosures

None.

PART II

Item 5. Market for the Registrant’s Common Equity and Related Stockholder Matters.

The following table presents the high and low bid and asked prices for the Company’s common stock for 2017 and 2016. The Company’s common stock, $0.01 par value, is quoted on the OTC Pink Sheets. Such quotations reflect inter-dealer prices, without retail mark-up, mark-down or commission and may not necessarily represent actual transactions.

	Quarter	High		Low

2017	First	$	0.95	$	0.50
	Second	$	0.75	$	0.60
	Third	$	0.60	$	0.21
	Fourth	$	0.68	$	0.36

2016	First	$	1.99	$	1.29
	Second	$	1.45	$	1.10
	Third	$	1.17	$	0.68
	Fourth	$	0.80	$	0.50

The number of stockholders of record of the Company’s common stock as of March 5, 2018 was 744 and the closing price on the OTC Pink Sheets of such common stock on that date was $0.46 per share.

The Company did not declare or pay any cash dividends on its common stock in 2017 or 2016. The Company currently intends to retain future earnings to finance the growth and development of its business and does not intend to pay cash dividends in the foreseeable future.

Issuer Purchases of Equity Securities

The Board of Directors authorized the Company to repurchase up to 5,000,000 outstanding shares of common stock from time to time either in open market or privately negotiated transactions. At December 31, 2017 and 2016, the Company had repurchased an aggregate of 2,041,971 shares of its common stock and a total of 2,778,029 shares, remained available for repurchase at December 31, 2017 and 2016, respectively, pursuant to the 5,000,000 shares repurchase plans. The Company did not repurchase any common stock during the year ended December 31, 2017. The Company repurchased 250,000 shares of common stock during the year ended December 31, 2016.

Item 6. Selected Financial Data.

Not required.

Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

General Overview

Substantially all of the Company’s business operations are carried out through Winthrop and its subsidiaries, the Wright Companies. Winthrop, offers investment management services, financial advisory services and investment research to large and small investors, both taxable and tax exempt. For more than 50 years, the Wright Companies have assisted institutions, plan sponsors, bank trust departments, trust companies and individual investors in achieving their financial objectives. The management approach is to invest assets prudently by balancing risk and return.

Investments

Investment in undeveloped lands

The Company owns certain non-strategic assets, including an investment and interests in land and flowage rights in undeveloped property in Killingly, Connecticut.

The Company monitors this investment for impairment by considering current factors, including the economic environment, market conditions, operational performance and other specific factors relating to the business underlying the investment, and records impairments in carrying values when necessary.

Management discussion of critical accounting policies

The following discussion and analysis of the financial condition and results of operations are based on the consolidated financial statements and notes to consolidated financial statements contained in this report that have been prepared in accordance with the rules and regulations of the SEC and include all the disclosures normally required in annual consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America. The preparation of these financial statements requires us to make estimates that affect the reported amounts of assets, liabilities, sales and expenses, and related disclosures of contingent assets and liabilities. We base these estimates on historical results and various other assumptions believed to be reasonable, all of which form the basis for making estimates concerning the carrying values of assets and liabilities that are not readily available from other sources. Actual results may differ from these estimates.

Certain of our accounting policies require higher degrees of judgment than others in their application. These include stock based compensation and accounting for income taxes which are summarized below.

Employees’ stock-based compensation.

Stock-based compensation cost is measured at the grant date based on the fair value of the award and is recognized as an expense on a straight-line basis over the requisite service period, which is generally the vesting period. The valuation provisions of ASC 718 apply to new grants and to grants that were outstanding as of the effective date of ASC 718 and are subsequently modified. See Note 11 to the Consolidated Financial Statements for further information regarding our stock-based compensation assumptions and expense.

Income taxes

Income taxes are provided for based on the asset and liability method of accounting. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. Under ASC 740, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

A valuation allowance is provided when it is more likely than not that some portion of deferred tax assets will not be realized. The valuation allowance (decreased) / increased by approximately $(3,485,000) and $712,000 respectively, during the years ended December 31, 2017 and 2016. The decrease in the valuation allowance during the year ended December 31, 2017 was mainly due to a change in the corporate income tax rate per The Tax Cuts and Jobs Act (the “Act”). The increase in the valuation allowance during the year ended December 31, 2016 was mainly due to an increase of the net operating loss carryforward and other deferred tax assets.

Intangible Assets

Intangible assets, which were recorded in connection with the acquisition of Winthrop, are amortized over their estimated useful lives, on a straight-line basis. Intangible assets subject to amortization are tested for recoverability whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. The Company assesses the recoverability of its intangible assets by determining whether the unamortized balance can be recovered over the assets’ remaining life through undiscounted forecasted cash flows. If undiscounted forecasted cash flows indicate that the unamortized amounts will not be recovered, an adjustment will be made to reduce such amounts to fair value determined based on forecasted future cash flows discounted at a rate commensurate with the risk associated with achieving such cash flows. Future cash flows are based on trends of historical performance and the Company’s estimate of future performance, giving consideration to existing and anticipated competitive and economic conditions. No impairment of intangible assets was recognized at December 31, 2017 or 2016.

Goodwill

Goodwill, which was recorded in connection with the acquisition of Winthrop, is not subject to amortization and is tested for impairment annually on December 31, or more frequently if events or changes in circumstances indicate that the asset may be impaired. The impairment test consists of a comparison of the fair value of the reporting unit with its carrying amount, underlying goodwill. Fair value was calculated based upon future cash flows discounted at a rate commensurate with the risk involved, market based comparables and recent transactions within the financial services industry. Future cash flows are based on projection of adjusted EBITDA of the operating segment. If the carrying amount of the reporting unit exceeds its fair value then an analysis will be performed to compare the implied fair value of goodwill with the carrying amount of goodwill. An impairment loss will be recognized in an amount equal to the excess of the carrying amount over the implied fair value. After an impairment loss is recognized, the adjusted carrying amount of goodwill is its new accounting basis. No impairment of goodwill was recognized at December 31, 2017 or 2016. There were no changes in the carrying value of goodwill during 2017 or 2016.

Results of Operations

Year ended December 31, 2017 compared to the year ended December 31, 2016

For the year ended December 31, 2017, the Company had a loss from operations before income taxes of $1,386,000 compared to a loss from operations before income taxes of $2,078,000 for the year ended December 31, 2016.

The reduced loss of $692,000 was primarily the result of reduced Compensation and benefits of $381,000 and reduced Other operating expenses of $312,000, as well as a $294,000 Share of loss from Investment in LLC recognized in 2016 (see Note 4 to the Consolidated Financial Statements). These improvements were partially offset by reduced revenues of $299,000. Included in operating loss for the years ended December 31, 2017 and 2016 are, respectively, the following; (i) amortization of intangibles of $397,000 and $629,000, and (ii) compensation expense of $108,000 and $119,000, respectively, related to RSU’s and stock options issued to Company employees, directors and advisors, respectively.

The Company’s management utilizes Adjusted EBITDA to measure performance of its operating segment. See Note 15 to the Consolidated Financial Statements for Adjusted EBITDA of the operating segment and a reconciliation of Loss from operations before income taxes.

Assets Under Management (AUM)

Winthrop earns revenue primarily by charging fees based upon AUM. At December 31, 2017 and 2016, AUM was $1.34 billion and $1.25 billion, respectively. For the year ended December 31, 2017 the Company had deposits of $90 million and increased market value of $168 million, offset by redemptions and withdrawals of $171 million.

Revenue

Winthrop markets its investment management products and services to plan sponsors, trade unions, endowments, corporations, state and local governments, municipalities and foundations. The Winthrop products include equity, fixed income and balanced portfolios for various plan types, including defined benefit, annuity, self-directed and 401(k), health and welfare and education and training plans. In addition, Winthrop helps bank trust departments and trust companies satisfy part or all of their investment management functions. Winthrop delivers fiduciary level investment management services to these institutions’ clients by providing active oversight of each account's asset allocation and security selection. Its offerings include investment management solutions utilizing individual securities or mutual funds. Mutual fund models developed by Winthrop utilize a combination of Wright Mutual Funds as well as mutual funds from other investment managers.

Winthrop, through its WISDI affiliate, offers a diversified family of mutual funds. Wright Mutual Funds are utilized by the Wright Companies and others to build or supplement managed investment portfolios designed to address clients’ financial objectives.

Revenue from Investment Management Services was $2,213,000 for the year ended December 31, 2017 as compared to $2,240,000 for the year ended December 31, 2016. Within this category, Winthrop primarily bills clients based on AUM values as of calendar quarters. Revenues are primarily from fees from; (i) Taft-Hartley clients, (ii) Personal Investment Managed Accounts, and (iii) other client serviced accounts. The reduced revenue of $27,000 for the year ended December 31, 2017 is the result of reduced AUM for the first and second billing quarters in 2017, partially offset by increased AUM in the third and fourth billing quarters of 2017, as compared to the comparable periods in 2016.

Revenue from Other investment advisory services was $2,387,000 for the year ended December 31, 2017 as compared to $2,765,000 for the year ended December 31, 2016. Other investment advisory service revenue includes: (i) revenue from Mutual Funds; (ii) fees from services provided to Bank Trust Departments; and (iii) investment income. Revenue from Mutual Funds includes distribution fees for both Winthrop-sponsored mutual funds as well as other mutual funds and investment management fees from Winthrop-sponsored mutual funds. The reduced revenue of $378,000 for the year ended December 31, 2017 is the result of reduced AUM for all billing quarters in 2017 as compared to the comparable billing periods in 2016, as well as reduced Mutual Fund fees of $90,000. The reduced fund fees were primarily the result of reduced AUM in the Wright Mutual Funds. Effective October 1, 2017, the Boards of Trustees of the Wright Mutual Funds approved the elimination of the Rule 12b-1Distribution Plan and shareholder services fee applicable to each Fund. As a result, Fund shareholders will no longer pay a 12b-1 fee or shareholder services fee.

Revenue from the sale of Financial research information and related data was $812,000 for the year ended December 31, 2017 as compared to $706,000 for the year ended December 31, 2016. The increased revenue of $106,000 is primarily the result of increased revenue received from a one third party distributor. Revenues are also derived from the distribution of investment research directly and through several third parties who act as distributors of such research content. The fees paid by the end client are divided between Winthrop and the distributor. Existing agreements in place with third party distributors, primarily Thomson Reuters, allow for the renegotiation of the revenue split, which could result in a decline in revenue to Winthrop. In addition, the underlying data we utilize to produce our financial research and related data is primarily obtained from a third-party, Worldscope (currently owned by Thomson Reuters), which was at no cost to us through August 2014. The Company concluded negotiations with Thomson Reuters in July 2014 and commenced paying for the updates in August 2014 at the most favored vendor rate. The agreement expires in 2024.

Compensation and benefits

For the year ended December 31, 2017, Compensation and benefits were $3,364,000 as compared to $3,745,000 for the year ended December 31, 2016.

The reduced Compensation and benefits of $381,000 were primarily the result of reduced costs at Winthrop resulting primarily from (i) reduced staff levels at Winthrop during the last six months of 2016 and in 2017 which resulted in reduced expenses of $327,000 compared to the year ended December 31, 2016 and (ii) severance costs of $99,000 incurred by Winthrop in 2016, partially offset by increased benefits and related expenses at the corporate level of $45,000 in 2017.

Other operating expenses

For the year ended December 31, 2017, Other operating expenses were $3,338,000 as compared to $3,650,000 for the year ended December 31, 2016.

The reduced Other Operating expenses of $312,000 for the year ended December 31, 2017, of which $286,000 were attributable to Winthrop were the result of primarily the following; (i) reduced amortization of intangibles of $232,000 incurred by Winthrop (which was $397,000 and $629,000, respectively, for the year ended December 31, 2017 and 2016), (ii) reduced professional and recruiting fees of $29,000 incurred by Winthrop, (iii) reduced travel and promotional activities of $27,000 incurred by Winthrop, (iv) reduced distributor fees paid to mutual funds of $67,000, (v) reduced data services of $92,000 and (v) reduced operating expenses at the corporate level of $26,000. These reduced costs were partially offset by $113,000 of increased software licensing costs and $38,000 of software implementation expenses incurred by Winthrop.

Income taxes

For the year ended December 31, 2017, the income tax benefit related to continuing operations of $96,000 represents a deferred income tax benefit of $148,000, due to a change in the valuation allowance related to the Company’s alternative minimum tax (“AMT”) credit carryforward, net of $52,000 of state minimum income taxes.

For the year ended December 31, 2016, the income tax expense related to continuing operations of $54,000 substantially represents state minimum income taxes.

As a result of The Tax Cuts and Jobs Act (the "Act"), enacted in December 2017, the Company’s AMT credit carryforward of $148,000 was determined to be more likely than not to be realized. The valuation allowance was reduced during the year ended December 31, 2017, related to the AMT credit carryforward, resulting in a deferred income tax benefit of $148,000.

With the exception of the deferred tax asset related to the AMT credit carryforward, the Company recorded a full valuation allowance against its net deferred tax assets. Due to a full valuation allowance to offset deferred tax assets related to net operating loss carryforwards attributable to the loss, no tax benefit has been recorded in relation to the pre-tax loss from continuing operations for the years ended December 31, 2017 and December 31, 2016.

Financial condition, liquidity and capital resources

Liquidity and Capital Resources

At December 31, 2017, the Company had cash and cash equivalents totaling $6,018,000, which it intends to use to acquire interests in one or more operating businesses and to fund the Company’s general and administrative expenses. The Company believes that its working capital is sufficient to support its operating requirements through March 31, 2019.

The decrease in cash and cash equivalents of $1,008,000 for the year ended December 31, 2017 was the result of $975,000 used in operating activities, and $33,000 used in investing activities.

Item 7A. Quantitative and Qualitative Disclosures About Market Risk.

Not required.

Item 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA.

Index to the Consolidated Financial Statements

Financial Statements of Wright Investors’ Service Holdings, Inc.

	Page

Report of Independent Registered Public Accounting Firm	23

Consolidated Statements of Operations - Years ended December 31, 2017 and 2016	24

Consolidated Balance Sheets - December 31, 2017 and 2016	25

Consolidated Statements of Cash Flows - Years ended December 31, 2017 and 2016	26

Consolidated Statements of Changes in Stockholders’ Equity – Years ended December 31, 2017 and 2016	27

Notes to Consolidated Financial Statements	28

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

The Board of Directors and Stockholders of

Wright Investors’ Service Holdings, Inc.

Opinion on the Financial Statements

We have audited the accompanying consolidated balance sheets of Wright Investors’ Service Holdings, Inc. (the “Company") as of December 31, 2017 and 2016, and the related consolidated statements of operations, changes in stockholders’ equity, and cash flows for each of the years then ended, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the consolidated financial position of the Company as of December 31, 2017 and 2016, and the consolidated results of their operations and their cash flows for each of the years then ended, in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

These financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on the Company’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

/s/ EISNERAMPER LLP

We have served as the Company’s auditor since 2004.

EISNERAMPER LLP

New York, New York

March 26, 2018

WRIGHT INVESTORS' SERVICE HOLDINGS, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share amounts)

	Years Ended December 31,
	2017			2016
Revenues
Investment management services	$	2,213		$	2,240
Other investment advisory services		2,387			2,765
Financial research and related data		812			706
		5,412			5,711
Expenses
Compensation and benefits		3,364			3,745
Other operating		3,338			3,650
		6,702			7,395

Operating loss		(1,290	)		(1,684	)
Share of loss from Investment in LLC		-			(294	)
Interest expense and other, net		(96	)		(100	)
Loss from operations before income taxes		(1,386	)		(2,078	)
Income tax benefit (expense)		96			(54	)
Net loss	$	(1,290	)	$	(2,132	)

Basic and diluted net loss per share	$	(0.07	)	$	(0.11	)

See accompanying notes to consolidated financial statements.

WRIGHT INVESTORS' SERVICE HOLDINGS, INC.

CONSOLIDATED BALANCE SHEETS

(in thousands, except per share amounts)

	December 31,
	2017			2016
Assets
Current assets
Cash and cash equivalents	$	6,018		$	7,026
Accounts receivable		304			291
Prepaid expenses and other current assets		431			393
Total current assets		6,753			7,710
Property and equipment, net		100			103
Intangible assets, net		1,618			2,015
Goodwill		3,364			3,364
Deferred tax asset		148			-
Investment in undeveloped land		355			355
Other assets		108			108
Total assets	$	12,446		$	13,655

Liabilities and stockholders’ equity
Current liabilities
Accounts payable and accrued expenses	$	729		$	741
Deferred revenue		6			11
Income taxes payable		30			37
Current portion of officers retirement bonus liability		190			200
Total current liabilities		955			989

Officers retirement bonus liability, net of current portion		467			570
Total liabilities		1,422			1,559

Stockholders’ equity
Preferred stock, par value $0.01 per share, authorized 10,000,000 shares; none issued
Common stock, par value $0.01 per share, authorized 30,000,000 shares; issued 19,962,014 in 2017 and 19,830,219 in 2016 (including 11,701 shares issuable for vested restricted stock units in 2017 and 2016); outstanding 19,135,094 in 2017 and 19,003,299 in 2016		199			198

Additional paid-in capital		33,933			33,716

Accumulated deficit		(21,409	)		(20,119	)

Treasury stock, at cost (815,219 in 2017 and 2016)		(1,699	)		(1,699	)
Total stockholders' equity		11,024			12,096
Total liabilities and stockholders’ equity	$	12,446		$	13,655

See accompanying notes to consolidated financial statements.

WRIGHT INVESTORS' SERVICE HOLDINGS, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands, except per share amounts)

	Years Ended December 31,
	2017			2016
Cash flows from operating activities

Net loss	$	(1,290	)	$	(2,132	)
Adjustments to reconcile net loss to cash used in operating activities:
Share of loss from investment in LLC, in excess of cash received of $10 in 2016		-			284
Realized loss on sale of short-term investments		-			9
Interest expense related to officers retirement bonus liability		87			78
Depreciation and amortization		433			643
Decrease in value of warrant		-			12
Equity based compensation, including issuance of stock to directors		218			229
Changes in other operating items:
Accounts receivable		(13	)		35
Deferred tax asset		(148	)		-
Deferred revenue		(5	)		11
Officers retirement bonus liability		(200	)		(222	)
Prepaid income tax		-			37
Income taxes payable		(7	)		37
Prepaid expenses and other current assets		(38	)		66
Accounts payable and accrued expenses		(12	)		(289	)
Net cash used in operating activities		(975	)		(1,202	)

Cash flows from investing activities
Proceeds from sale of short-term investments		-			148
Additions to property and equipment		(33	)		(73	)
Net cash provided by (used in) investing activities		(33	)		75

Cash flows from financing activities
Purchase of treasury stock		-			(340	)
Net cash used in financing activities		-			(340	)

Net decrease in cash and cash equivalents		(1,008	)		(1,467	)
Cash and cash equivalents at the beginning of the year		7,026			8,493
Cash and cash equivalents at the end of the year	$	6,018		$	7,026

Supplemental disclosures of cash flow information
Net cash paid during the year for
Income taxes	$	59		$	3

See accompanying notes to consolidated financial statements.

WRIGHT INVESTORS' SERVICE HOLDINGS, INC.

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY

YEARS ENDED DECEMBER 31, 2017 AND 2016

(in thousands, except share data)

													Total
					Additional					Treasury			stock-
	Common stock				paid -in		Accumulated			stock , at			holders
	shares		amount		capital		deficit			cost			equity

Balance at December 31, 2015		19,720,971	$	197	$	33,488	$	(17,987	)	$	(1,359	)	$	14,339
Net loss		-						(2,132	)		-			(2,132	)
Equity based compensation expense		-		-		119		-			-			119
Shares issuable for vested restricted stock units		11,701
Issuance of common stock to directors		97,547		1		109		-			-			110
Purchase of treasury stock		-		-		-		-			(340	)		(340	)
Balance at December 31, 2016		19,830,219		198		33,716		(20,119	)		(1,699	)		12,096
Net loss								(1,290	)		-			(1,290	)
Equity based compensation expense				-		108					-			108
Issuance of common stock to directors		131,795		1		109					-			110
Balance at December 31, 2017		19,962,014	$	199	$	33,933	$	(21,409	)	$	(1,699	)	$	11,024

See accompanying notes to consolidated financial statements.

WRIGHT INVESTORS’ SERVICE HOLDINGS, INC.

Notes to Consolidated Financial Statements

1.	Description of activities

The Winthrop Corporation, a Connecticut Corporation (“Winthrop”) is a wholly- owned subsidiary of Wright Investors’ Service Holdings, Inc. (hereinafter referred to as the “Company” or “Wright Holdings”), and through its wholly-owned subsidiaries Wright Investors’ Service, Inc. (“Wright”), Wright Investors’ Service Distributors, Inc. (“WISDI”) and Wright’s wholly-owned subsidiary, Wright Private Asset Management, LLC (“WPAM”) (collectively, the “Wright Companies”), offers investment management services, financial advisory services and investment research to large and small investors, both taxable and tax exempt. WISDI is a registered broker dealer with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and the Securities and Exchange Commission.

2.	Summary of significant accounting policies

Principles of consolidation.

The consolidated financial statements include the accounts of the Company and its subsidiaries all of which are wholly-owned. All significant intercompany accounts and transactions have been eliminated in consolidation.

Reclassification

The Company has reclassified $56,000 of Compensation and benefits for the year ended December 31, 2016 to Other operating expenses in order to be consistent with the presentation for the year ended December 31, 2017.

Use of estimates

The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from these estimates.

Cash and cash equivalents

Cash equivalents represent short-term, highly liquid investments, which are readily convertible to cash and have maturities of three months or less at time of purchase. Cash equivalents, which are carried at cost plus accrued interest, which approximates fair value, consist of an investment in a money market fund which invests in treasury bills and amounted to approximately $5,209,000, and $6,301,000 at December 31, 2017 and 2016, respectively.

Cash equivalents are classified within level 1 of the fair value hierarchy because they are valued using quoted market prices in active markets.

Basic and diluted loss per share

Basic and diluted loss per share for the years ended December 31, 2017 and 2016, respectively, is calculated based on 19,216,000 and 19,085,000 weighted average outstanding shares of common stock including 135,000 and 65,000, respectively, common shares underlying vested RSUs. Options for 550,000 and 3,350,000 shares of common stock in 2017 and 2016, respectively, and unvested RSUs for 66,000 and 132,000 shares of common stock in 2017 and 2016, respectively, were not included in the diluted computation as their effect would be anti-dilutive since the Company has losses from operations for both years.

Employees’ stock-based compensation

Income taxes

Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to carryforwards and to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

The accounting for uncertain tax positions guidance requires that the Company recognize the financial statement benefit of a tax position only after determining that the Company would more likely than not sustain the position following an audit. For tax positions meeting the more-likely-than-not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. The Company recognizes interest and penalties on uncertain tax positions as interest and other expenses, respectively. The Company has no uncertain tax positions at December 31, 2017 and 2016.

Concentrations of credit risk

Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of cash investments.

Property and equipment

Property and equipment are carried at cost, net of allowance for depreciation. Depreciation is provided on a straight-line basis over estimated useful lives of 3 to 7 years for equipment and furniture.

Intangible Assets

Goodwill

Goodwill, which was recorded in connection with the acquisition of Winthrop, is not subject to amortization and is tested for impairment annually on December 31, or more frequently if events or changes in circumstances indicate that the asset may be impaired. The impairment test consists of a comparison of the fair value of the reporting unit, which consists of The Wright Companies operating segment, with its carrying amount, including goodwill. Fair value was calculated based upon future cash flows discounted at a rate commensurate with the risk involved, market based comparables and recent transactions within the financial services industry. Future cash flows are based on projection of adjusted EBITDA of the operating segment (see Note 15). If the carrying amount of the reporting unit exceeds its fair value then an analysis will be performed to compare the implied fair value of goodwill with the carrying amount of goodwill. An impairment loss will be recognized in an amount equal to the excess of the carrying amount over the implied fair value. After an impairment loss is recognized, the adjusted carrying amount of goodwill is its new accounting basis. No impairment of goodwill was recognized at December 31, 2017 or 2016. There were no changes in the carrying value of goodwill during 2017 or 2016.

Revenue recognition

Revenue from investment advisory services and investment management services are recognized over the period in which the service is performed. Accordingly, the amount of such revenue billed as of the balance sheet date relating to periods after the balance sheet date is accounted for as deferred revenue. Revenue from research reports is recognized monthly upon the receipt of payment from the third-party industry distributors.

In May 2014, the Financial Accounting Standards Board issued Accounting Standards Update 2014-09 Revenue from Contracts with Customers (“ASC 606”). The new guidance creates a single, principle based model for revenue recognition and expands and improves disclosures about revenue. The new guidance is effective for the Company on January 1, 2018. The Company has performed an assessment and analysis of the Company’s current policies and practices and there will be no material change upon the adoption of ASC 606.

3.	Certain new accounting guidance

In February 2016, the FASB issued ASU 2016-02, leases (Topic 842), which supersedes the existing guidance for lease accounting, Leases (Topic 840). ASU 2016-02 requires lessees to recognize leases on their balance sheets, and leaves lessor accounting largely unchanged. The amendments in this ASU are effective for fiscal years beginning after December 15, 2018 and interim periods within those fiscal years. Early application is permitted for all entities. ASU 2016-02 requires a modified retrospective approach for all leases existing at, or entered into after the date of initial application, with an option to elect to use certain transaction relief. The Company is currently assessing the impact that the adaption of ASU 2016-02 will have on its financial statements.

In March 2016, the FASB issued ASU 2016-09, “Compensation- Stock Compensation (Topic 718): Improvements to Employee Share Based Payment Accounting.” ASU 2016-09 simplifies several aspects of the accounting for employee share-based payment transactions, including the accounting for income taxes, forfeitures and statutory tax withholding requirements, as well as classifications in the statement of cash flows. ASU 2016-09 is effective for the fiscal years beginning after December 15, 2016 and interim periods within those fiscal years. During 2017 the Company has adopted ASU 2016-09 which did not have any impact in the Company’s financial statements. In accordance with ASU 2016-09, the Company has made the accounting policy election to continue to estimate forfeitures based upon historical occurrences.

In January 2016, the FASB issued Accounting Standards Update 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. The ASU generally requires companies to measure investments in equity securities, except those accounted for under the equity method, at fair value and recognize any changes in fair value in net income. The new guidance must be applied using a modified-retrospective approach and is effective for periods beginning after December 15, 2017 and early adoption is not permitted. The Company has evaluated the impact this new standard, and it will not have a material effect on the consolidated financial statements.

In January 2017, FASB issued ASU 2017-04, “Intangibles- Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment”, which eliminates the second step of the previous FASB guidance for testing goodwill for impairment and is intended to reduce cost and complexity of goodwill impairment testing. The standard is effective for periods beginning after December 15, 2019 for both interim and annual periods. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company is currently assessing the impact that the adoption of ASU 2017-04 will have on its financial statements.

In May 2017, the FASB issued ASU 2017-09, “Compensation – Stock Compensation (Topic 708) Scope of Modification Accounting” which provides guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting in Topic 718. Adoption of the Standard is required for annual and interim periods beginning after December 15, 2017 with the amendments in the update applied prospectively to an award modified on or after the adoption date. Early adoption is permitted. The Company has evaluated the impact this new standard, and it will not have a material effect on the consolidated financial statements.

4.	Investment in LLC

The Company entered into a Limited Liability Company Agreement dated April 28, 2015 by and among EGS, LLC, a newly formed Delaware limited liability company (“EGS”) and the members named therein. The Company invested $333,333 and acquired 333,333 Units, representing a 33.33% Membership Interest in EGS. In addition to the Company, EGS has two other members, one of whom is Marshall Geller, a member of the Company’s Board of Directors. The EGS transaction, as well as Mr. Geller’s participation in the transaction, received the prior approval of the Company’s Audit Committee. Mr. Geller is the Managing Member of the LLC and also invested $333,333 and acquired 333,333 Units, representing a 33.33% Membership Interest in EGS.

EGS entered in a Note Purchase Agreement effective April 28, 2015 with Merriman Holdings, Inc. (“Merriman”), a publicly traded company, pursuant to which EGS purchased from Merriman for an aggregate purchase price of $1,000,000 (i) a one-year Senior Secured Note in the original principal amount of $1,000,000, at 12% interest, payable quarterly, in arrears (the “Note”) and (ii) a Common Stock Purchase Warrant which expires in five years to purchase 500,000 shares of Merriman common stock at $1.00 per share (the “Warrants”). EGS distributed the Warrants to its members and the Company received 166,666 Warrants which expire in five years. Marshall Geller also received 166,666 Warrants with an exercise price of $1.00 per share that expire in five years. The investment in EGS is being accounted for under the equity method. Under this method, the Company records its share of EGS’s earnings (losses) in the statement of operations with equivalent amount of increases (decreases) to the investment. At April 28, 2015, the Company valued the Warrants at their fair value, or $120,000, using the Black Scholes model, and recorded their value as a reduction in the investment in EGS. The Warrant which permits a cashless exercise, qualifies as a derivative, and is recorded at fair value (based on observable inputs) with change in such value included in earnings.

On July 20, 2015, a fourth member joined EGS and invested $333,333, and received a 25% Membership Interest in EGS. EGS advanced the funds to Merriman and increased its investment in the Note and in addition, received 166,666 additional Warrants which it distributed to its new member. This transaction reduced the Company’s interest in EGS to 25%, changed the expiration date of the Note to July 20, 2016 from April 28, 2016, and extended the exercise date of the warrant to five years from that date.

Merriman is a financial services holding company that provides capital markets advisory and research, corporate and investment banking services through its wholly-owned principal operating subsidiary, Merriman Capital, Inc. (“MC”). The Note is secured by 99.998% of the capital stock of MC.

The Note, pursuant to the terms of an Intercreditor Agreement entered into with Merriman’s current debt holders, is senior to all of Merriman’s debt.

On July 27, 2016, FINRA suspended Merriman’s securities business due to an ongoing dispute over accounting for working capital, and MC filed a Broker Dealer Withdrawal with the SEC to begin the process of terminating its licenses. Substantially all of Merriman’s revenues are derived from MC. Merriman has not made the April 2016 interest payment or the $1,333,333 principal payment due at maturity in July 2016, and is currently in default of the Note with EGS.

The above events indicate that EGS may not be able to recover all or a significant portion of the carrying amount of the Note and accordingly, in the quarter ended June 30, 2016, EGS discontinued accruing interest income on the Note and provided a valuation allowance and related provision for loss for the entire carrying amount of the Note, including accrued interest in a prior quarter. Correspondingly, for the year ended December 31, 2016, the Company recorded $294,000 as to its share of EGS’s net loss for such period, which resulted in a zero carrying value for the Company’s investment in EGS at December 31, 2016. In addition, the warrants were ascribed no value at such date resulting in a loss of $12,000 for the year ended December 31, 2016. Any future recovery by the Company on its investment in EGS will be recognized as income when received. During the years ended December 31, 2017 and 2016, there were no amounts recovered from the Company’s investment in EGS.

5.	Accounts receivable

Winthrop and its subsidiaries continuously monitor the creditworthiness of customers and establish an allowance for uncollectible accounts based on specific customer related collection issues. As of December 31, 2017, and 2016, there was no allowance for uncollectible accounts.

6.	Accounts payable and accrued expenses

Accounts payable and accrued expenses consist of the following (in thousands):

	December 31,
	2017		2016

Accrued professional fees	$	207	$	187
Accrued compensation and related expenses		144		161
Other		378		393
	$	729	$	741

7.	Income taxes

The components of income tax (benefit) expense are as follows (in thousands):

	Year Ended December 31,
	2017			2016
Current
Federal	$	-		$	-
State and local		52			54
Total current		52			54

Deferred
Federal	$	(148	)	$	-
State and local		-			-
Total deferred		(148	)		-

Total income tax (benefit) expense	$	(96	)	$	54

For the years ended December 31, 2017 and 2016, current income tax expense related to operations substantially represents minimum state income taxes. For the year ended December 31, 2017, deferred income tax benefit represents a reduction of the valuation allowance due to a change in tax law permitting alternative minimum tax credits to be refundable.

The difference between the benefit for income taxes computed at the statutory rate and the reported amount of tax expense (benefit) from operations is as follows:

	Year ended December 31,
	2017			2016
Federal income tax rate		(34.0	)%		(34.0	)%
State income tax (net of federal effect)		6.8			1.7
Change in valuation allowance		(251.5	)		34.3
Deferred tax asset write-down		73.2			-
Non-deductible expenses		0.6			0.6
Impact of tax law change		198			-
Effective tax rate		(6.9	)%		2.6	%

The deferred tax assets and liabilities are summarized as follows (in thousands):

	December 31,
	2017			2016
Deferred tax assets:
Net operating loss carryforwards	$	6,356		$	8,809
Equity-based compensation		107			1,275
Tax credit carryforwards		148			148
Accrued compensation		180			305
Accrued liabilities & other		157			105
Gross deferred tax assets		6,948			10,642
Less: valuation allowance		(6,365	)		(9,850	)
Deferred tax assets after valuation allowance		583			792

Deferred tax liabilities:
Intangible assets
Other		(435	)		(784	)
Deferred tax liabilities		-			(8	)
Net Deferred tax assets		(435	)		(792	)
	$	148		$	-

The Tax Cuts and Jobs Act (the "Act") was enacted in December 2017. Among other things, the Act reduces the U.S. federal corporate tax rate from 35 percent to 21 percent, eliminates the alternative minimum tax (“AMT”) for corporations, and provides that AMT credit carryforwards are refundable over a period of time beginning with the Company’s 2018 tax year through 2021. The reduction of the corporate tax rate resulted in a write-down of the Company’s net deferred tax assets of approximately $2.7 million, and a corresponding write-down of the valuation allowance. The Company recognized a deferred income tax benefit of $148,000 for the year ended December 31, 2017 due to a reduction of the valuation allowance related to the AMT credit carryforward. As a result of the Act, the AMT credit carryforward is determined to be more likely than not to be realized.

A valuation allowance is provided when it is more likely than not that some portion of deferred tax assets will not be realized. The valuation allowance (decreased) increased by approximately $(3,485,000) and $712,000 respectively, during the years ended December 31, 2017 and 2016. The decrease in the valuation allowance during the year ended December 31, 2017 was mainly due to a change in the corporate income tax rate per the Act. The increase in the valuation allowance during the year ended December 31, 2016 was mainly due to an increase of the net operating loss carryforward and other deferred tax assets.

The Company files a consolidated federal tax return with its subsidiaries. As of December 31, 2017, the Company has a federal net operating loss carryforward of approximately $21.2 million, which expires from 2031 through 2037, and various state and local net operating loss carryforwards totaling approximately $19.6 (pre-apportioned) and $17.6 (post-apportioned) million, which expire between 2018 and 2037. Approximately $1.3 million of the federal net operating loss carryforward and $8.5 million of the state net operating loss carryforward were acquired from Winthrop. The acquired federal net operating loss carryforward is limited in its utilization by Section 382 of the Internal Revenue Code due to an ownership change.

8.	Property and equipment:

Property and equipment consists of the following (in thousands):

	December 31,
	2017			2016
Computer software	$	75		$	72
Computer equipment		140			110
Office furniture and equipment		46			46
Leasehold improvements		1			1
		262			229
Less: accumulated depreciation and amortization		(162	)		(126	)
	$	100		$	103

Depreciation expense for the years ended December 31, 2017 and 2016 was $36,000 and $14,000, respectively.

9.	Intangible Assets

Intangible assets subject to amortization consisted of the following (in thousands):

		December 31, 2017
Intangible	Estimated useful life	Gross carrying amount			Accumulated Amortization			Net carrying amount

Investment Management and Advisory Contracts	9 years		$	3,181		$	1,778		$	1,403
Trademarks	10 years			433			218			215
Proprietary Software and Technology	4 years			960			960			-
			$	4,574		$	2,956		$	1,618

		December 31, 2016
Intangible	Estimated useful life	Gross carrying amount			Accumulated Amortization			Net carrying amount

Investment Management and Advisory Contracts	9 years		$	3,181		$	1,425		$	1,756
Trademarks	10 years			433			174			259
Proprietary Software and Technology	4 years			960			960			-
			$	4,574		$	2,559		$	2,015

Amortization expense amounted to $397,000 and $629,000 for each of the years ended December 31, 2017 and 2016, respectively. The weighted-average amortization period for total amortizable intangibles at December 31, 2017 is 4 years. Estimated amortization expense for each of the five succeeding years and thereafter is as follows (in thousands):

Year ending December 31,
2018	397
2019	397
2020	397
2021	386
2022	41
	$1,618

10.	Capital Stock

The Company’s Board of Directors, without any vote or action by the holders of common stock, is authorized to issue preferred stock from time to time in one or more series and to determine the number of shares and to fix the powers, designations, preferences and relative, participating, optional or other special rights of any series of preferred stock.

11.	Incentive stock plans and stock-based compensation

Common stock options

The Company had initially adopted a stock-based compensation plan for employees and non-employee members of its Board of Directors in November 2003 (the “2003 Plan”), which was subsequently amended in March 2007 (the “2003 Plan Amendment”). In December 2007, the Company adopted the National Patent Development Corporation 2007 Incentive Stock Plan (the “2007 NPDC Plan”). The plans provide for up to 3,500,000 and 7,500,000 awards for shares under the 2003 Plan Amendment and 2007 NPDC Plan, respectively, in the form of discretionary grants of stock options, restricted stock shares, restricted stock units (RSUs) and other stock-based awards to employees, directors and outside service providers. The Company’s plans are administered by the Compensation Committee of the Board of Directors, which consists solely of non-employee directors. The term of any option granted under the plans will not exceed ten years from the date of grant and, in the case of incentive stock options granted to a 10% or greater holder of total voting stock of the Company, three years from the date of grant. The exercise price of any option granted under the plans may not be less than the fair market value of the common stock on the date of grant or, in the case of incentive stock options granted to a 10% or greater holder of total voting stock, 110% of such fair market value.

The Company recorded compensation expense of $300 and $9,000 for the years ended December 31, 2017 and 2016, respectively, under these plans. As of December 31, 2017, the number of shares reserved and available for award under the 2007 NPDC Plan is 6,141,786 and under the 2003 Plan Amendment is 3,500,000.

During the year ended December 31, 2016, the Company issued 100,000 options to a consultant on March 28, 2016 and 25,000 options to an employee on March 31, 2016. The options issued on March 28, 2016 vest equally over 3 years, and are subject to post vesting restrictions for sale for three years. The options issued on March 31, 2016 vest on the third anniversary of their issuance. The options were issued at an exercise price of $1.29 and $1.34 per share for the options issued on March 28, 2016 and March 31, 2016, respectively, which price was equal to the market value at the date of the grant. The 25,000 options issued on March 31, 2016 were canceled in the third quarter of 2016, upon the termination of the employee. The grant-date fair value of the options were $0.50 and $0.52, respectively, which was estimated on the date of grant using the Black-Scholes option pricing model using the following assumptions:

Dividend yield	0	%

Expected volatility	48.24	%

Risk-free interest rate	1.21	%

Expected life (in years)	4

The fair value of the options granted on March 28, 2016 were reduced by an 8% discount for post vesting restrictions.

The value of the options granted to the consultant are re-measured at each balance sheet date until performance is complete with the final measurement of fair value of the options made on the vesting dates. The revised fair value is amortized over the remaining term of the option. The value of the options is $0.08 which net value of $400 will be amortized over the remaining life of the options.

As of December 31, 2016, there were outstanding options to acquire 3,350,000 common shares, 3,250,000 of which were vested and exercisable, having a weighted average exercise price of $2.27 per share, a weighted average contractual term of 1 year and zero aggregate intrinsic value.

As of December 31, 2017, there were outstanding options to acquire 550,000 common shares under the 2007 NPDC Plan, 483,333 of which were vested and exercisable, having a weighted average exercise price of $1.35 per share, a weighted average contractual term of 3 years and zero aggregate intrinsic value. During 2017, 2,800,000 options expired, without being exercised, with a weighted exercise price of $2.46 per share.

Restricted stock units

The following RSUs were granted to employees of the Company under the 2007 NPDC Plan:

17,738 RSUs were granted to certain employees on February 4, 2013, which vest equally over three years, with the first third vesting on February 4, 2014 and the second third vesting on February 4, 2015. At December 31, 2017, 11,701 of the RSU’s were still outstanding. The RSUs are valued based on the closing price of the Company’s common stock on February 4, 2013 of $2.40, less an average discount of 11% for post-vesting restrictions on sale until the three-year anniversary of the grant date, or an average price per share of $2.25. The Company recorded compensation expense of $0 and $1,000, respectively, for the years ended December 31, 2017 and 2016 related to these RSUs. There is no unrecognized compensation expense related to these RSUs at December 31, 2017.

100,000 RSUs were issued on each of January 19, 2015 and March 31, 2015, to two newly appointed directors of the Company. The RSUs will vest equally over 3 years, with the first third vesting in January and March 2016, respectively. The RSUs are valued based on the closing price of the Company’s common stock on January 19, 2015 and March 31, 2015 of $1.70 and $1.85, respectively, less an average discount of 8% for post-vesting restrictions on sale until the three-year anniversary of the grant date, or an average price per share of $1.56 and $1.70, respectively. The Company recorded compensation expense of $110,000 for the years ended December 31, 2017 and 2016 related to these RSUs. The total unrecognized compensation expense related to these unvested RSUs at December 31, 2017 is $16,000, which will be recognized over the remaining vesting period of approximately 2 months. At December 31, 2017 and 2016, 133,332 and 66,666 of the RSU’s were vested.

12.	Retirement plans

The Company maintains a 401(k) Savings Plan (the “Plan”), for full time employees who have completed at least one hour of service coincident with the first day of each month. The Plan permits pre-tax contributions by participants. Effective January 15, 2013, the employees of Winthrop and its subsidiaries were eligible to participate in the Plan, and the Company ceased matching the participants contributions.

Winthrop maintains an officer retirement bonus plan (the “Bonus Plan”) that is an unfunded deferred compensation program providing retirement benefits equal to 10% of annual compensation, as defined, to those officers upon their retirement. Effective December 1, 1999, the Plan was frozen so that no additional benefits will be earned. The liability is payable to individual retired employees at the rate of $50,000 per year in equal monthly amounts commencing upon retirement. The liability was recorded at $885,000 at the date of the Company’s acquisition of Winthrop, representing its estimated fair value computed based on its present value, utilizing a discount rate of 14%, which was estimated to be the acquired company’s weighted average cost of capital on such date from the perspective of a market participant. The calculated discount of $1,027,000 at the date of acquisition is being amortized as interest expense over the period the obligation is outstanding by use of the effective interest method. For the years ended December 31, 2017 and 2016, interest expense, (included in Interest expense and other, net) amounted to $87,000 and $78,000, respectively. During 2016, an employee left the Company prior to his retirement date, and the Company recognized $23,000 of income related to the elimination of the related liability and a corresponding credit to Compensation and benefits in the Consolidated Statement of Operations. At December 31, 2017, and 2016 the present value of the obligation under the Bonus Plan was $657,000, and $770,000, respectively, net of discount of $367,000 and $454,000, respectively. Of the undiscounted obligation of $1,024,000 at December 31, 2017, $190,000 is expected to be paid during 2018.

13.	Commitments, Contingencies and Other

(a)

In August 2014, the Company entered into a five-year sublease in Greenwich, Connecticut for 10,000 square feet. At December 31, 2017, annual future rent for the Greenwich space, which expires on September 30, 2019 aggregated $451,000 payable as follows; $255,000 (2018), and $196,000 (through September 30, 2019). Rent expense charged to operations related to the facilities aggregated $248,000 and $240,000 in 2017 and 2016, respectively. The rent expense in 2017 and 2016 included deferred rent of $44,000 and $58,000, respectively, due to straight lining the amounts payable over the lease term commencing in August 2014 upon the Company gaining access to the premises.

(b)

14.	Related party transactions

Wright acts as an investment advisor, its subsidiary acts as a principal underwriter and one officer of Winthrop is also an officer for a family of mutual funds from which investment management and distribution fees are earned based on the net asset values of the respective funds. Such fees, which are included in Other investment advisory services, amounted to $403,000 and $778,000 for the years ended December 31, 2017 and 2016, respectively. Effective October 1, 2017, the Boards of Trustees of the Wright Mutual Funds approved the elimination of the Rule 12b-1Distribution Plan and shareholder services fee applicable to each Fund. As a result, Fund shareholders will no longer pay a 12b-1 fee or shareholder services fee.

15.	Segment information

The Company through its wholly-owned subsidiary has one operating segment which is engaged in the investment management and financial advisory business and derives its revenue from investment management services, other investment advisory services and financial research.

The Company’s corporate operations are not considered an operating segment and the Company does not allocate corporate expense for management and administrative services or income and expense related to other corporate activity to its operating segment to measure its operations. The Company’s management utilizes adjusted EBITDA to measure segment performance. Adjusted EBITDA is a measure defined as EBITDA before corporate expense, equity-based compensation, software implementation costs, relocation and severance costs and non-operating income (expense). EBITDA is a measure defined as earnings (loss) before interest, taxes, depreciation and amortization.

Adjusted EBITDA is a non-GAAP measure and should not be construed as an alternative to operating loss or net loss as an indicator of the Company’s performance, or as an alternative to cash used in operating activities, or as a measure of liquidity, or as any other measure determined in accordance with GAAP.

Following is a reconciliation of adjusted EBITDA of the operating segment to loss from operations before income taxes (in thousands):

	Year ended December 31,
	2017			2016
Adjusted EBITDA of operating segment	$	954		$	785

Other operating expenses:
Corporate (1)		(1,555	)		(1,498	)
Depreciation and amortization		(433	)		(643	)
Equity based compensation		(218	)		(229	)
Software implementation costs		(38	)		-
Relocation and severance costs		-			(99	)

Operating loss		(1,290	)		(1,684	)

Non- operating income (expense):
Interest expense and other, net		(96	)		(100	)
Share of loss from Investment in LLC		-			(294	)

Loss from operations before income taxes	$	(1,386	)	$	(2,078	)


Following is a summary of the Company's total assets (in thousands):
	December 31,
		2017			2016
Operating segment	$	6,160		$	6,224
Corporate (2)		6,286			7,431
	$	12,446		$	13,655

(1) Consists principally of compensation related expenses, facility costs and professional fees

(2) Consists principally of cash and cash equivalents

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.

None.

Item 9A. Controls and Procedures.

(a) Evaluation of Disclosure Controls and Procedures

We carried out an evaluation, under the supervision and with the participation of our management including our Chief Executive Officer and our Chief Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures pursuant to Rule 13a-15(e) of the Securities Exchange Act of 1934, as amended. Based on that evaluation, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures as of December 31, 2017 were effective.

The Company’s principal executive officer and principal financial officer have also concluded that there have not been any changes in the Company’s internal control over financial reporting during the quarter ended December 31, 2017 that have materially effected or are reasonably likely to materially effect, the Company’s internal control over financial reporting.

(b) Management’s Annual Report on Internal Control over Financial Reporting

Our management is responsible for establishing and maintaining adequate internal control over financial reporting as defined in Exchange Act Rule 13a-15(f). Our internal control processes and procedures are designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of our consolidated financial statements in accordance with United States generally accepted accounting principles. Our internal control over financial reporting includes those policies and procedures that reasonably allow us to record, process, summarize, and report information and financial data within prescribed time periods and in accordance with Rule 13a-15(e) of the Securities Exchange Act of 1934, as amended.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

Under the supervision and with the participation of management, including our Chief Executive Officer and Chief Financial Officer, we conducted an evaluation of internal control over financial reporting as of December 31, 2017 based on the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission in Internal Control – Integrated Framework (2013) (“COSO Framework”). Based upon our evaluation, we concluded that our internal control over financial reporting was effective as of December 31, 2017.

This annual report does not include an attestation report of the Company's registered public accounting firm regarding internal control over financial reporting. Management's report was not subject to attestation by the Company's registered public accounting firm pursuant to rules of the SEC that permit the Company to provide only management's report in this annual report.

Item 9B. Other Information

None

PART III

Item 10. Directors, Executive Officers and Corporate Governance.

The information required by this item is incorporated by reference to the Company’s definitive proxy statement to be filed pursuant to Regulation 14A within 120 days after the Company’s fiscal year end of December 31, 2017, for its annual stockholders’ meeting for 2015 (the “Proxy Statement”) under the captions “Directors and Executive Officers”, “Corporate Governance”, “Compliance with Section 16(a) of the Exchange Act”, “Code of Ethics” and “Audit Committee.”

Item 11. Executive Compensation.

The information required by this item is incorporated by reference to the Company’s Proxy Statement for its 2017 Annual Meeting of Stockholders under the caption “Executive Compensation.”

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.

Additional information required by this item is incorporated by reference to the Company’s Proxy Statement for its 2017 Annual Meeting of Stockholders under the caption “Stock Ownership of Management and Principal Stockholders”.

Item 13. Certain Relationships and Related Transactions, and Director Independence.

This information required by this item is incorporated by reference to the Company’s Proxy Statement for its 2017 Annual Meeting of Stockholders under the captions “Certain Transactions with Management” and “Director Independence”.

Item 14. Principal Accounting Fees and Services.

The information regarding principal accountant fees and services and the Company’s pre-approval policies and procedures for audit and non-audit services provided by the Company’s independent accountants is incorporated by reference to the Company’s Proxy Statement for its 2017 Annual Meeting of Stockholders under the caption “Principal Accountant Fees and Services.”

Item 15. Summary Page

none

PART IV

Item 15. Exhibits and Financial Statement Schedules.

(a)(1) The following financial statements are included in Part II, Item 7. Financial Statements and Supplementary Data:

	Page

Financial Statements of Wright Investors’ Service Holdings, Inc.:

Report of Independent Registered Public Accounting Firm	23

Consolidated Statements of Operations - Years ended December 31, 2017 and 2016	24

Consolidated Balance Sheets - December 31, 2017 and 2016	25

Consolidated Statements of Cash Flows - Years ended December 31, 2017 and 2016	26

Consolidated Statements of Changes in Stockholders’ Equity – Years ended December 31, 2017 and 2016	27

Notes to Consolidated Financial Statements	28

(a)(2)

Schedules have been omitted because they are not required or are not applicable, or the required information has been included in the financial statements or the notes thereto.

(a)(3)

See accompanying Index to Exhibits.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	WRIGHT INVESTORS’ SERVICE HOLDINGS, INC

Date: March 26, 2018	By:	/s/ HARVEY P. EISEN
		Name:	Harvey P. Eisen
		Title:	Chairman, President and Chief Executive Officer (Principal Executive Officer)

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

Signature	Capacity	Date



/s/ HARVEY P. EISEN	Chairman, President and Chief Executive Officer	March 26, 2018
Harvey P. Eisen	(Principal Executive Officer)

/s/ LAWRENCE G. SCHAFRAN	Director	March 26, 2018
Lawrence G. Schafran

/s/ RICHARD C. PFENNIGER Jr.	Director	March 26, 2018
Richard C. Pfenniger Jr.

/s/ MARSHALL S. GELLER	Director	March 26, 2018
Marshall S. Geller

/s/ PETER M. DONOVAN	Director	March 26, 2018
Peter M. Donovan

/s/ IRA J. SOBOTKO	Vice President, Chief Financial Officer	March 26, 2018
Ira J. Sobotko	(Principal Financial and Accounting Officer)

EXHIBIT INDEX

The following exhibits are filed with this report:

2.1	Agreement and Plan of Merger, dated June 18, 2012, by and among National Patent Development Corporation, NPT Advisors Inc., The Winthrop Corporation, and Peter M. Donovan as the securityholders’ Representative. Incorporated herein by reference to Exhibit 2.1 of the Registrant’s Form 8-K filed on June 19, 2012.

3(i)	Articles of Incorporation of National Patent Development Corporation. Incorporated herein by reference to Exhibit 3.1 of the Registrant’s Form S-1, Registration No. 333-118568.

3(ii)	Bylaws of National Patent Development Corporation. Incorporated herein by reference to Exhibit 3.2 of the Registrant’s Form S-1, Registration No. 333-118568.

4.1	Form of certificate representing shares of common stock, par value $0.01 per share, of National Patent Development Corporation. Incorporated herein by reference to Exhibit 4.1 of the Registrant’s Form S-1, Registration No. 333-118568.

10.1	Employment Agreement entered into on June 18, 2012 between the Company and Amit S. Khandwala. Incorporated herein by reference to Exhibit 10.2 of the Registrant’s Form 10-Q for the quarterly period ended June 30, 2012 filed on August 14, 2012.

10.2	Employment Agreement entered into on June 18, 2012 between the Company and Anthony E. van Daalen. Incorporated herein by reference to Exhibit 10.4 of the Registrant’s Form 10-Q for the quarterly period ended June 30, 2012 filed on August 14, 2012.

10.3	Form of Restricted Stock Unit Agreement. Incorporated herein by reference to Exhibit 10.9 of the Registrant’s Form 8-K filed on December 21, 2012.

10.4	Agreement Upon Withdrawal by the Winthrop Corporation from Worldscope /Disclosure LLC dated as of June 1, 2012. Incorporated herein by reference to Exhibit 10.15 of the Registrant’s Form 8-K filed on December 21, 2012.

10.5	Distribution Agreement between Thomson Reuters (Markets) LLC and Wright Investors’ Service, dated November 30, 2009. Incorporated herein by reference to Exhibit 10.18 of the Registrant’s Form 8-K filed on December 21, 2012.

10.6	Amendment No. 1 to Agreement Upon Withdrawal by The Winthrop Corporation From Worldscope/Disclosure LLC. Incorporated herein by reference to Exhibit 10.20 to the Registrant’s Form 10-Q for the quarter ended June 30, 2014 filed on August 12, 2014.

10.7	Sublease between Coldwell Banker Real Estate Services LLC (sublessor) And Wright Investors’’ Service Holdings, Inc. (sublessee) At 177 West Putman Avenue, Greenwich Connecticut. Incorporated herein by reference to Exhibit 10.21 to the Registrant’s Form 10-Q for the quarter ended September 30, 2014 as filed on November 12, 2014.

10.8	Limited Liability Company Agreement for EGS, LLC effective April 28, 2015. Incorporated herein by reference to Exhibit 10.22 to the Registrant’s Form 10-Q for the quarter ended March 31, 2015 filed on May 15, 2015.

10.9	Note Purchase Agreement Between EGS, LLC and Merriman Holdings, Inc., effective April 28, 2015. Incorporated herein by reference to Exhibit 10.23 to the Registrant’s Form 10-Q for the quarter ended March 31, 2015 filed on May 15, 2015.

10.10	Note Purchase Agreement Between EGS, LLC and Merriman Holdings, Inc., effective July 16, 2015. Incorporated herein by reference to Exhibit 10.24 to the Registrant’s Form 10-Q for the quarter ended March 31, 2015 filed on May 15, 2015.

14	Code of Business Conduct and Ethics for Chief Executive Officer and Senior Financial Officers of the Registrant and its subsidiaries. Incorporated herein by reference to Exhibit 14.1 to the Registrant’s Form 10-K for the year ended December 31, 2004 filed on April 15, 2005

21		Subsidiaries of the Registrant*

31.1	*	Certification of the principal executive officer of the Registrant, pursuant to Securities Exchange Act Rule 13a-14(a)

31.2	*	Certification of the principal financial officer of the Registrant, pursuant to Securities Exchange Act Rule 13a-14(a)

32	*	Certifications pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of The Sarbanes-Oxley Act of 2002, signed by the principal executive officer and the principal financial officer of the Registrant

101.INS		XBRL Instance Document

101.SCH		XBRL Taxonomy Extension Schema Document

101.CAL		XBRL Taxonomy Extension Calculation Linkbase Document

101.DEF		XBRL Taxonomy Extension Definition Linkbase Document

101.LAB		XBRL Extension Labels Linkbase Document

101.PRE		XBRL Taxonomy Extension Presentation Linkbase Document

_________________________________

*Filed within

EX-21 2 ex21.htm EXHIBIT 21

Exhibit 21

SUBSIDIARIES OF THE REGISTRANT

Name of Subsidiary	Other Names Under Which Subsidiary Conducts Business	State or Other Jurisdiction of Incorporation or Organization

NPDV Resources, Inc.	N/A	Delaware

Chestnut Hill Reservoir Company	N/A	Connecticut

The Winthrop Corporation	N/A	Connecticut

EX-31.1 3 ex31_1.htm EXHIBIT 31.1

Exhibit 31.1

CERTIFICATIONS

I, Harvey P. Eisen, certify that:

I have reviewed this annual report on Form 10-K of Wright Investors’ Service Holdings, Inc.;

Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(e) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: March 26, 2018

/s/ HARVEY P. EISEN
Name:	Harvey P. Eisen
Title:	Chairman, President and
	Chief Executive Officer

EX-31.2 4 ex31_2.htm EXHIBIT 31.2

Exhibit 31.2

CERTIFICATIONS

I, Ira J. Sobotko, certify that:

I have reviewed this annual report on Form 10-K of Wright Investors’ Service Holdings, Inc.;

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: March 26, 2018

/s/ IRA J. SOBOTKO
Name:	Ira J. Sobotko
Title:	Vice President, Chief Financial Officer,
	Secretary and Treasurer

EX-32 5 ex32.htm EXHIBIT 32

Exhibit 32

CERTIFICATIONS PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with this Annual Report on Form 10-K of Wright Investors’ Service Holdings, Inc. (the “Company”) for the fiscal year ended December 31, 2017 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), each of the undersigned officers of the Company hereby certifies, pursuant to 18 U.S.C. (section) 1350, as adopted pursuant to (section) 906 of the Sarbanes-Oxley Act of 2002, that to the best of his knowledge:

(1)

The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2)

The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

/s/ HARVEY P. EISEN
Name:	Harvey P. Eisen
Title:	Chairman, President and
	Chief Executive Officer
Date:	March 26, 2018

/s/ IRA J. SOBOTKO
Name:	Ira J. Sobotko
Title:	Vice President, Chief Financial Officer
	Secretary and Treasurer
Date:	March 26, 2018

EX-101.INS 6 wish-20171231.xml XBRL INSTANCE DOCUMENT 0001279715 2016-01-01 2016-12-31 0001279715 us-gaap:CommonStockMember 2016-01-01 2016-12-31 0001279715 us-gaap:AdditionalPaidInCapitalMember 2016-01-01 2016-12-31 0001279715 us-gaap:RetainedEarningsMember 2016-01-01 2016-12-31 0001279715 us-gaap:TreasuryStockMember 2016-01-01 2016-12-31 0001279715 2017-01-01 2017-12-31 0001279715 us-gaap:RetainedEarningsMember 2017-01-01 2017-12-31 0001279715 us-gaap:TreasuryStockMember 2017-01-01 2017-12-31 0001279715 wish:OperatingSegmentMember 2016-01-01 2016-12-31 0001279715 wish:OperatingSegmentMember 2017-01-01 2017-12-31 0001279715 2015-12-31 0001279715 2016-12-31 0001279715 2017-12-31 0001279715 us-gaap:CommonStockMember 2015-12-31 0001279715 us-gaap:CommonStockMember 2016-12-31 0001279715 us-gaap:CommonStockMember 2017-12-31 0001279715 us-gaap:AdditionalPaidInCapitalMember 2015-12-31 0001279715 us-gaap:RetainedEarningsMember 2015-12-31 0001279715 us-gaap:TreasuryStockMember 2015-12-31 0001279715 us-gaap:AdditionalPaidInCapitalMember 2016-12-31 0001279715 us-gaap:RetainedEarningsMember 2016-12-31 0001279715 us-gaap:TreasuryStockMember 2016-12-31 0001279715 us-gaap:AdditionalPaidInCapitalMember 2017-12-31 0001279715 us-gaap:RetainedEarningsMember 2017-12-31 0001279715 us-gaap:TreasuryStockMember 2017-12-31 0001279715 us-gaap:CommonStockMember 2017-01-01 2017-12-31 0001279715 us-gaap:AdditionalPaidInCapitalMember 2017-01-01 2017-12-31 0001279715 us-gaap:RestrictedStockUnitsRSUMember 2016-01-01 2016-12-31 0001279715 us-gaap:EmployeeStockOptionMember 2016-01-01 2016-12-31 0001279715 us-gaap:RestrictedStockUnitsRSUMember 2017-01-01 2017-12-31 0001279715 us-gaap:EmployeeStockOptionMember 2017-01-01 2017-12-31 0001279715 us-gaap:FurnitureAndFixturesMember us-gaap:MaximumMember 2017-01-01 2017-12-31 0001279715 us-gaap:FurnitureAndFixturesMember us-gaap:MinimumMember 2017-01-01 2017-12-31 0001279715 2015-03-31 0001279715 2015-01-19 0001279715 wish:PlanNameTwoMember 2017-12-31 0001279715 wish:PlanNameOneMember 2017-12-31 0001279715 us-gaap:RestrictedStockUnitsRSUMember wish:EmployeesMember 2013-02-01 2013-02-04 0001279715 us-gaap:RestrictedStockUnitsRSUMember wish:TwoNewlyAppointedDirectorsMember 2015-03-01 2015-03-31 0001279715 us-gaap:RestrictedStockUnitsRSUMember wish:TwoNewlyAppointedDirectorsMember 2015-01-01 2015-01-19 0001279715 2016-03-01 2016-03-28 0001279715 2016-03-01 2016-03-31 0001279715 us-gaap:RestrictedStockUnitsRSUMember wish:TwoNewlyAppointedDirectorsMember 2017-12-31 0001279715 us-gaap:RestrictedStockUnitsRSUMember wish:TwoNewlyAppointedDirectorsMember 2016-01-01 2016-12-31 0001279715 us-gaap:RestrictedStockUnitsRSUMember wish:TwoNewlyAppointedDirectorsMember 2017-01-01 2017-12-31 0001279715 us-gaap:PensionPlansDefinedBenefitMember 2016-01-01 2016-12-31 0001279715 us-gaap:PensionPlansDefinedBenefitMember 2017-01-01 2017-12-31 0001279715 2014-08-01 2014-08-31 0001279715 us-gaap:ComputerSoftwareIntangibleAssetMember 2016-12-31 0001279715 us-gaap:ComputerEquipmentMember 2016-12-31 0001279715 us-gaap:FurnitureAndFixturesMember 2016-12-31 0001279715 us-gaap:LeaseholdImprovementsMember 2016-12-31 0001279715 us-gaap:ComputerSoftwareIntangibleAssetMember 2017-12-31 0001279715 us-gaap:ComputerEquipmentMember 2017-12-31 0001279715 us-gaap:FurnitureAndFixturesMember 2017-12-31 0001279715 us-gaap:LeaseholdImprovementsMember 2017-12-31 0001279715 us-gaap:CustomerContractsMember 2016-01-01 2016-12-31 0001279715 us-gaap:TrademarksMember 2016-01-01 2016-12-31 0001279715 us-gaap:OtherIntangibleAssetsMember 2016-01-01 2016-12-31 0001279715 us-gaap:CustomerContractsMember 2017-01-01 2017-12-31 0001279715 us-gaap:TrademarksMember 2017-01-01 2017-12-31 0001279715 us-gaap:OtherIntangibleAssetsMember 2017-01-01 2017-12-31 0001279715 us-gaap:CustomerContractsMember 2016-12-31 0001279715 us-gaap:TrademarksMember 2016-12-31 0001279715 us-gaap:OtherIntangibleAssetsMember 2016-12-31 0001279715 us-gaap:CustomerContractsMember 2017-12-31 0001279715 us-gaap:TrademarksMember 2017-12-31 0001279715 us-gaap:OtherIntangibleAssetsMember 2017-12-31 0001279715 us-gaap:CorporateMember 2016-12-31 0001279715 wish:OperatingSegmentMember 2016-12-31 0001279715 wish:OperatingSegmentMember 2017-12-31 0001279715 us-gaap:CorporateMember 2017-12-31 0001279715 us-gaap:RestrictedStockUnitsRSUMember 2016-12-31 0001279715 us-gaap:RestrictedStockUnitsRSUMember 2017-12-31 0001279715 wish:EgsLlcMember 2016-01-01 2016-12-31 0001279715 wish:EgsLlcMember 2015-04-01 2015-04-28 0001279715 wish:EgsLlcMember wish:MarshallGellerMember 2015-04-01 2015-04-28 0001279715 2006-12-15 2017-12-31 0001279715 us-gaap:DomesticCountryMember 2017-12-31 0001279715 us-gaap:StateAndLocalJurisdictionMember wish:PreApportionedMember 2017-12-31 0001279715 us-gaap:StateAndLocalJurisdictionMember wish:PostApportionedMember 2017-12-31 0001279715 us-gaap:DomesticCountryMember us-gaap:MinimumMember 2017-01-01 2017-12-31 0001279715 us-gaap:DomesticCountryMember us-gaap:MaximumMember 2017-01-01 2017-12-31 0001279715 us-gaap:StateAndLocalJurisdictionMember us-gaap:MinimumMember 2017-01-01 2017-12-31 0001279715 us-gaap:StateAndLocalJurisdictionMember us-gaap:MaximumMember 2017-01-01 2017-12-31 0001279715 us-gaap:SubsidiariesMember 2016-01-01 2016-12-31 0001279715 us-gaap:SubsidiariesMember 2017-01-01 2017-12-31 0001279715 us-gaap:PensionPlansDefinedBenefitMember 2016-12-31 0001279715 us-gaap:PensionPlansDefinedBenefitMember 2017-12-31 0001279715 2017-06-30 0001279715 2018-03-05 0001279715 2016-01-01 2016-09-30 0001279715 us-gaap:RestatementAdjustmentMember 2017-01-01 2017-12-31 0001279715 wish:EgsLlcMember 2015-07-20 0001279715 wish:EgsLlcMember wish:MarshallGellerMember 2015-04-28 0001279715 wish:EgsLlcMember 2015-04-28 0001279715 wish:MerrimanHoldingsIncMember 2015-04-01 2015-04-28 0001279715 wish:MerrimanHoldingsIncMember wish:SeniorSecuredNoteMember 2015-04-01 2015-04-28 0001279715 wish:MerrimanHoldingsIncMember wish:SeniorSecuredNoteMember 2015-04-28 0001279715 wish:MerrimanHoldingsIncMember 2015-04-28 0001279715 wish:MerrimanHoldingsIncMember wish:MarshallGellerMember 2015-04-01 2015-04-28 0001279715 wish:MerrimanHoldingsIncMember wish:EgsLlcMember 2015-04-28 0001279715 wish:MerrimanCapitalIncMember wish:SeniorSecuredNoteMember 2015-04-28 0001279715 wish:MerrimanCapitalIncMember 2016-07-27 0001279715 us-gaap:StateAndLocalJurisdictionMember wish:WinthropMember 2017-12-31 0001279715 wish:PlanNameTwoMember 2016-12-31 0001279715 wish:PlanNameTwoMember 2017-01-01 2017-12-31 0001279715 wish:PlanNameTwoMember 2016-01-01 2016-12-31 0001279715 us-gaap:RestrictedStockUnitsRSUMember wish:EmployeeMember 2017-01-01 2017-12-31 0001279715 us-gaap:RestrictedStockUnitsRSUMember wish:EmployeeMember 2016-01-01 2016-12-31 0001279715 us-gaap:RestrictedStockUnitsRSUMember wish:EmployeeMember 2017-12-31 0001279715 us-gaap:DomesticCountryMember wish:WinthropMember 2017-12-31 0001279715 us-gaap:PensionPlansDefinedBenefitMember us-gaap:SubsequentEventMember 2018-12-31 iso4217:USD iso4217:USD xbrli:shares xbrli:shares xbrli:pure utr:sqft

-2132000

-1290000

643000

433000

643000

433000

229000

218000

-35000

13000

11000

-5000

-222000

-200000

-37000

-66000

38000

-289000

-12000

148000

73000

33000

-1467000

-1008000

8493000

7026000

6018000

3000

59000

2240000

2213000

2765000

2387000

706000

812000

5711000

5412000

-1684000

-1290000

-1684000

-1290000

-100000

-96000

-2078000

-1386000

-2078000

-1396000

54000

-96000

3745000

3364000

3650000

3338000

14339000

12096000

11024000

197000

198000

199000

33488000

-17987000

-1359000

33716000

-20119000

-1699000

33933000

-21409000

-1699000

119000

108000

97547

131795

110000

1000

109000

110000

1000

109000

P7Y

P3Y

7500000

3500000

6141786

3500000

P3Y

78000

87000

100000

96000

78000

87000

187000

207000

161000

144000

393000

378000

741000 729000

0.017

0.068

0.343

-2.515

0.006

0.026

-0.069

8809000

6356000

1275000

107000

148000

305000

180000

105000

157000

10642000

6948000

9850000

6365000

792000

583000

784000

435000

8000

792000

435000

148000

229000

262000

72000

110000

46000

1000

75000

140000

46000

1000

126000

162000

103000

100000

14000

36000

P9Y

P10Y

P4Y

P9Y

P10Y

P4Y

4574000

3181000

433000

960000

3181000

433000

960000

2559000

2956000

1425000

174000

960000

1778000

218000

960000

2015000

1618000

1756000

259000

1403000

215000

629000

397000

198000

199000

33716000

33933000

-20119000

-21409000

1699000

13655000

12446000

815219

393000

431000

7710000

6753000

2015000

1618000

3364000

355000 355000

108000

13655000

12446000

7431000

6224000

6160000

6286000

741000

729000

11000

6000

200000

190000

989000

955000

570000

467000

1559000

1422000

0.01

10000000

0.01

30000000

11701

19830219

19962014

19003299

19135094

10-K false 2017-12-31 Wright Investors Service Holdings, Inc. 0001279715 --12-31 FY Smaller Reporting Company Yes Yes No 2017

12000

333333

397000

386000

41000

2958029

P1Y

P3Y

785000 954000

9000

300

229000

218000

99000

291000

304000

21200000

19600000

17600000

8500000

1300000

2031-01-01

2037-12-31

2018-01-01

2037-12-31

712000

-3485000

7395000

6702000

778000

403000

6000000 19376070

-294000

-0.11

-0.07

284000

-9000

340000

37000

-7000

10000

100000

25000

P3Y 1.1000

2.46

1.29

1.34

25000

0.50

0.52

0.08

0.4824

0.0121

P4Y

400

2800000

0.08 333333 333333

0.25

0.3333

1000000

P1Y

1000000

0.12

120000

500000

1.00

P5Y P5Y P5Y

166666

333333

0.25

166666 0.99998 1333333

1498000

1555000

0.340

0.21

0.35

37000

30000

-1202000

-975000

75000

-33000

-340000

19720971

19830219

19962014

340000

<div style="text-align: justify"> <table id="z6eb8aa464d8c44f490e04f74dac6f32d" class="DSPFListTable" cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, serif; width: 100%"> <tr> <td style="font: bold 10pt Times New Roman, Times, serif; vertical-align: top; width: 27pt">1.</td> <td style="vertical-align: top; text-align: justify; width: auto"> <div style="font: bold 10pt Times New Roman, Times, serif">Description of activities</div> </td> </tr> </table> </div> <div style="text-align: left"><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; text-align: justify">The Winthrop Corporation, a Connecticut Corporation (“Winthrop”) is a wholly- owned subsidiary of Wright Investors’ Service Holdings, Inc. (hereinafter referred to as the “Company” or “Wright Holdings”), and through its wholly-owned subsidiaries Wright Investors’ Service, Inc. (“Wright”), Wright Investors’ Service Distributors, Inc. (“WISDI”) and Wright’s wholly-owned subsidiary, Wright Private Asset Management, LLC (“WPAM”) (collectively, the “Wright Companies”), offers investment management services,  financial advisory services and investment research to large and small investors, both taxable and tax exempt.  WISDI is a registered broker dealer with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and the Securities and Exchange Commission.</div>

<div style="text-align: justify"> <table id="z79291685319d45a78d03ceeb7bf0176c" class="DSPFListTable" cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, serif; width: 100%"> <tr> <td style="font: bold 10pt Times New Roman, Times, serif; vertical-align: top; width: 27pt">2.</td> <td style="vertical-align: top; text-align: justify; width: auto"> <div style="font: bold 10pt Times New Roman, Times, serif">Summary of significant accounting policies</div> </td> </tr> </table> </div> <div style="text-align: justify"><br /> </div> <div style="font: italic 10pt Times New Roman, Times, serif; color: #000000; text-align: justify"><font style="font: bold 10pt Times New Roman, Times, serif">Principles of consolidation</font>.</div> <div><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">The consolidated financial statements include the accounts of the Company and its subsidiaries all of which are wholly-owned. All significant intercompany accounts and transactions have been eliminated in consolidation.</div> <div><br /> </div> <div style="font: italic bold 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Reclassification</div> <div><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; text-align: justify">The Company has reclassified $56,000 of Compensation and benefits for the year ended December 31, 2016 to Other operating expenses in order to be consistent with the presentation for the year ended December 31, 2017.</div> <div><br /> </div> <div><br /> </div> <div style="font: italic bold 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">Use of estimates</div> <div style="text-align: justify"><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period.  Actual results could differ from these estimates.</div> <div style="text-align: justify"><br /> </div> <div style="font: italic bold 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">Cash and cash equivalents</div> <div style="text-align: justify"><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">Cash equivalents represent short-term, highly liquid investments, which are readily convertible to cash and have maturities of three months or less at time of purchase.  Cash equivalents,<font style="font: italic bold 10pt Times New Roman, Times, serif"> </font>which are carried at cost plus accrued interest, which approximates fair value, consist of an investment in a money market fund which invests in treasury bills and amounted to approximately $5,209,000, and $6,301,000 at December 31, 2017 and 2016, respectively.</div> <div><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">Cash equivalents are classified within level 1 of the fair value hierarchy because they are valued using quoted market prices in active markets.</div> <div style="text-align: justify"><br /> </div> <div style="font: italic bold 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Basic and diluted loss per share</div> <div style="text-align: justify"><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">Basic and diluted loss per share for the years ended December 31, 2017 and 2016, respectively, is calculated based on 19,216,000 and 19,085,000 weighted average outstanding shares of common stock including 135,000 and 65,000, respectively, common shares underlying vested RSUs.   Options for 550,000 and 3,350,000 shares of common stock in 2017 and 2016, respectively, and unvested RSUs for 66,000 and 132,000 shares of common stock in 2017 and 2016, respectively, were not included in the diluted computation as their effect would be anti-dilutive since the Company has losses from operations for both years.</div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify"> </div> <div style="font: italic bold 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">Employees’ stock-based compensation</div> <div style="text-align: justify"><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">Stock-based compensation cost is measured at the grant date based on the fair value of the award and is recognized as an expense on a straight-line basis over the requisite service period, which is generally the vesting period. See Note 11. </div> <div style="text-align: justify"><br /> </div> <div style="font: italic bold 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">Income taxes</div> <div style="text-align: justify"><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to carryforwards and to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.</div> <div style="text-align: justify"><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">The accounting for uncertain tax positions guidance requires that the Company recognize the financial statement benefit of a tax position only after determining that the Company would more likely than not sustain the position following an audit. For tax positions meeting the more-likely-than-not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. The Company recognizes interest and penalties on uncertain tax positions as interest and other expenses, respectively.  The Company has no uncertain tax positions at December 31, 2017 and 2016.</div> <div style="text-align: justify"><br /> </div> <div style="font: italic bold 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">Concentrations of credit risk</div> <div style="text-align: justify"><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of cash investments.</div> <div><br /> </div> <div style="font: italic bold 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">Property and equipment</div> <div style="text-align: justify"><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">Property and equipment are carried at cost, net of allowance for depreciation. Depreciation is provided on a straight-line basis over estimated useful lives of 3 to 7 years for equipment and furniture.</div> <div style="text-align: left"><br /> </div> <div style="font: italic bold 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">Intangible Assets</div> <div style="text-align: justify"><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">Intangible assets, which were recorded in connection with the acquisition of Winthrop, are amortized over their estimated useful lives, on a straight-line basis. Intangible assets subject to amortization are tested for recoverability whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. The Company assesses the recoverability of its intangible assets by determining whether the unamortized balance can be recovered over the assets’ remaining life through undiscounted forecasted cash flows. If undiscounted forecasted cash flows indicate that the unamortized amounts will not be recovered, an adjustment will be made to reduce such amounts to fair value determined based on forecasted future cash flows discounted at a rate commensurate with the risk associated with achieving such cash flows. Future cash flows are based on trends of historical performance and the Company’s estimate of future performance, giving consideration to existing and anticipated competitive and economic conditions.   No impairment of intangible assets was recognized at December 31, 2017 or 2016.</div> <div style="text-align: justify"><br /> </div> <div style="font: italic bold 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">Goodwill</div> <div style="text-align: justify"><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">Goodwill, which was recorded in connection with the acquisition of Winthrop, is not subject to amortization and is tested for impairment annually on December 31, or more frequently if events or changes in circumstances indicate that the asset may be impaired. The impairment test consists of a comparison of the fair value of the reporting unit, which consists of The Wright Companies operating segment, with its carrying amount, including goodwill. Fair value was calculated based upon future cash flows discounted at a rate commensurate with the risk involved, market based comparables and recent transactions within the financial services industry. Future cash flows are based on projection of adjusted EBITDA of the operating segment (see Note 15). If the carrying amount of the reporting unit exceeds its fair value then an analysis will be performed to compare the implied fair value of goodwill with the carrying amount of goodwill. An impairment loss will be recognized in an amount equal to the excess of the carrying amount over the implied fair value. After an impairment loss is recognized, the adjusted carrying amount of goodwill is its new accounting basis.  No impairment of goodwill was recognized at December 31, 2017 or 2016.  There were no changes in the carrying value of goodwill during 2017 or 2016.</div> <div><br /> </div> <div style="font: italic bold 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">Revenue recognition</div> <div style="text-align: justify"><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">Revenue from investment advisory services and investment management services are recognized over the period in which the service is performed.  Accordingly, the amount of such revenue billed as of the balance sheet date relating to periods after the balance sheet date is accounted for as deferred revenue.  Revenue from research reports is recognized monthly upon the receipt of payment from the third-party industry distributors.</div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify"> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">In May 2014, the Financial Accounting Standards Board issued Accounting Standards Update 2014-09 Revenue from Contracts with Customers (“ASC 606”). The new guidance creates a single, principle based model for revenue recognition and expands and improves disclosures about revenue. The new guidance is effective for the Company on January 1, 2018. The Company has performed an assessment and analysis of the Company’s current policies and practices and there will be no material change upon the adoption of ASC 606.</div>

<div style="text-align: justify"> <table id="z30f220c7e0414f7f81c01f1322612d84" class="DSPFListTable" cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, serif; width: 100%"> <tr> <td style="font: bold 10pt Times New Roman, Times, serif; vertical-align: top; width: 27pt">3.</td> <td style="vertical-align: top; text-align: justify; width: auto"> <div style="font: bold 10pt Times New Roman, Times, serif">Certain new accounting guidance</div> </td> </tr> </table> </div> <div><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; text-align: justify"> In February 2016, the FASB issued ASU 2016-02, leases (Topic 842), which supersedes the existing guidance for lease accounting, Leases (Topic 840).  ASU 2016-02 requires lessees to recognize leases on their balance sheets, and leaves lessor accounting largely unchanged.  The amendments in this ASU are effective for fiscal years beginning after December 15, 2018 and interim periods within those fiscal years.  Early application is permitted for all entities.  ASU 2016-02 requires a modified retrospective approach for all leases existing at, or entered into after the date of initial application, with an option to elect to use certain transaction relief.  The Company is currently assessing the impact that the adaption of ASU 2016-02 will have on its financial statements.</div> <div style="font: 10pt Times New Roman, Times, serif; text-align: justify"> </div> <div style="font: 10pt Times New Roman, Times, serif; text-align: justify">In March 2016, the FASB issued ASU 2016-09, “Compensation- Stock Compensation (Topic 718):  Improvements to Employee Share Based Payment Accounting.”  ASU 2016-09 simplifies several aspects of the accounting for employee share-based payment transactions, including the accounting for income taxes, forfeitures and statutory tax withholding requirements, as well as classifications in the statement of cash flows.  ASU 2016-09 is effective for the fiscal years beginning after December 15, 2016 and interim periods within those fiscal years.  During 2017 the Company has adopted ASU 2016-09 which did not have any impact in the Company’s financial statements.  In accordance with ASU 2016-09, the Company has made the accounting policy election to continue to estimate forfeitures based upon historical occurrences.</div> <div><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; text-align: justify"> In January 2016, the FASB issued Accounting Standards Update 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities.  The ASU generally requires companies to measure investments in equity securities, except those accounted for under the equity method, at fair value and recognize any changes in fair value in net income. The new guidance must be applied using a modified-retrospective approach and is effective for periods beginning after December 15, 2017 and early adoption is not permitted.  The Company has evaluated the impact this new standard, and it will not have a material effect on the consolidated financial statements.</div> <div><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; text-align: justify"> In January 2017, FASB issued ASU 2017-04, “Intangibles- Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment”, which eliminates the second step of the previous FASB guidance for testing goodwill for impairment and is intended to reduce cost and complexity of goodwill impairment testing.  The standard is effective for periods beginning after December 15, 2019 for both interim and annual periods.  Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017.  The Company is currently assessing the impact that the adoption of ASU 2017-04 will have on its financial statements.</div> <div><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; text-align: justify">In May 2017, the FASB issued ASU 2017-09, “<font style="font: italic 10pt Times New Roman, Times, serif">Compensation – Stock Compensation (Topic 708) Scope of Modification Accounting</font>” which provides guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting in Topic 718. Adoption of the Standard is required for annual and interim periods beginning after December 15, 2017 with the amendments in the update applied prospectively to an award modified on or after the adoption date. Early adoption is permitted. The Company has evaluated the impact this new standard, and it will not have a material effect on the consolidated financial statements.</div>

<div style="text-align: justify"> <table id="zb1dc2e65d87748989aa657605f747d0a" class="DSPFListTable" cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, serif; width: 100%"> <tr> <td style="font: bold 10pt Times New Roman, Times, serif; vertical-align: top; width: 27pt">4.</td> <td style="vertical-align: top; text-align: justify; width: auto"> <div style="font: bold 10pt Times New Roman, Times, serif">Investment in LLC</div> </td> </tr> </table> </div> <div><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">The Company entered into a Limited Liability Company Agreement dated April 28, 2015 by and among EGS, LLC, a newly formed Delaware limited liability company (“EGS”) and the members named therein.  The Company invested $333,333 and acquired 333,333 Units, representing a 33.33% Membership Interest in EGS. In addition to the Company, EGS has two other members, one of whom is Marshall Geller, a member of the Company’s Board of Directors. The EGS transaction, as well as Mr. Geller’s participation in the transaction, received the prior approval of the Company’s Audit Committee.  Mr. Geller is the Managing Member of the LLC and also invested $333,333 and acquired 333,333 Units, representing a 33.33% Membership Interest in EGS.</div> <div style="text-align: left"><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">EGS entered in a Note Purchase Agreement effective April 28, 2015 with Merriman Holdings, Inc. (“Merriman”), a publicly traded company,  pursuant to which EGS purchased from Merriman for an aggregate purchase price of $1,000,000  (i) a one-year  Senior Secured Note in the original principal amount of $1,000,000, at 12% interest, payable quarterly, in arrears (the “Note”) and (ii) a Common Stock Purchase Warrant which expires in five years to purchase 500,000 shares of Merriman common stock  at $1.00 per share (the “Warrants”). EGS distributed the Warrants to its members and the Company received 166,666 Warrants which expire in five years. Marshall Geller also received 166,666 Warrants with an exercise price of $1.00 per share that expire in five years.  The investment in EGS is being accounted for under the equity method. Under this method, the Company records its share of EGS’s earnings (losses) in the statement of operations with equivalent amount of increases (decreases) to the investment. At April 28, 2015, the Company valued the Warrants at their fair value, or $120,000, using the Black Scholes model, and recorded their value as a reduction in the investment in EGS. The Warrant which permits a cashless exercise, qualifies as a derivative, and is recorded at fair value (based on observable inputs) with change in such value included in earnings.   </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify"> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">On July 20, 2015, a fourth member joined EGS and invested $333,333, and received a 25% Membership Interest in EGS.  EGS advanced the funds to Merriman and increased its investment in the Note and in addition, received 166,666 additional Warrants which it distributed to its new member.  This transaction reduced the Company’s interest in EGS to 25%, changed the expiration date of the Note to July 20, 2016 from April 28, 2016, and extended the exercise date of the warrant to five years from that date.</div> <div style="text-align: left"><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">Merriman is a financial services holding company that provides capital markets advisory and research, corporate and investment banking services through its wholly-owned principal operating subsidiary, Merriman Capital, Inc. (“MC”).  The Note is secured by 99.998% of the capital stock of MC.  </div> <div style="text-align: left"><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left"> The Note, pursuant to the terms of an Intercreditor Agreement entered into with Merriman’s current debt holders, is senior to all of Merriman’s debt.</div> <div style="text-align: left"><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; text-align: justify"><font style="font: 10pt Times New Roman, Times, serif; color: #000000"> </font>On July 27, 2016, FINRA suspended Merriman’s securities business due to an ongoing dispute over accounting for working capital, and MC filed a Broker Dealer Withdrawal with the SEC to begin the process of terminating its licenses.  Substantially all of Merriman’s revenues are derived from MC.  Merriman has not made the April 2016 interest payment or the $1,333,333 principal payment due at maturity in July 2016, and is currently in default of the Note with EGS.</div> <div style="text-align: left"><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; text-align: justify">The above events indicate that EGS may not be able to recover all or a significant portion of the carrying amount of the Note and accordingly, in the quarter ended June 30, 2016, EGS discontinued accruing interest income on the Note and provided a valuation allowance and related provision for loss for the entire carrying amount of the Note, including accrued interest in a prior quarter.  Correspondingly, for the year ended December 31, 2016, the Company recorded $294,000 as to its share of EGS’s net loss for such period, which resulted in a zero carrying value for the Company’s investment in EGS at December 31, 2016.  In addition, the warrants were ascribed no value at such date resulting in a loss of $12,000 for the year ended December 31, 2016. Any future recovery by the Company on its investment in EGS will be recognized as income when received.   During the years ended December 31, 2017 and 2016, there were no amounts recovered from the Company’s investment in EGS.</div>

<div style="text-align: justify"> <table id="zb97479d88c05466bbacfdf848c91090c" class="DSPFListTable" cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, serif; width: 100%"> <tr> <td style="font: bold 10pt Times New Roman, Times, serif; vertical-align: top; color: #000000; width: 27pt">5.</td> <td style="vertical-align: top; text-align: justify; width: auto"> <div style="font: bold 10pt Times New Roman, Times, serif">Accounts receivable</div> </td> </tr> </table> </div> <div style="text-align: left"><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">Winthrop and its subsidiaries continuously monitor the creditworthiness of customers and establish an allowance for uncollectible accounts based on specific customer related collection issues.  As of December 31, 2017, and 2016, there was no allowance for uncollectible accounts.</div>

<div style="text-align: justify"> <table id="z325f7a53097c4ff0875307bccf4152ae" class="DSPFListTable" cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, serif; width: 100%"> <tr> <td style="font: bold 10pt Times New Roman, Times, serif; vertical-align: top; width: 27pt">6.</td> <td style="vertical-align: top; text-align: justify; width: auto"> <div style="font: bold 10pt Times New Roman, Times, serif">Accounts payable and accrued expenses</div> </td> </tr> </table> </div> <div style="text-align: justify"><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">Accounts payable and accrued expenses consist of the following (in thousands):</div> <div style="text-align: justify"><br /> </div> <div> <table id="zb5f86d93b31644448ae2bc8ff112de31" cellspacing="0" cellpadding="0" border="0" style="font: 10pt Times New Roman, Times, serif; width: 90%"> <tr> <td style="vertical-align: bottom; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom"> </td> <td colspan="6" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">December 31,</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px"> </td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000; text-align: center">2017</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px"> </td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">2016</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom"> </td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom"> </td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 76%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Accrued professional fees</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">207</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">187</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 76%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Accrued compensation and related expenses</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">144</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">161</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 76%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Other</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: right; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">378</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: right; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">393</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 4px; width: 76%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 4px; text-align: right; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">729</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 4px; text-align: right; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">741</div></td></tr></table></div>

<div style="text-align: justify"> <table id="z47eb5549ae524108b6d861ed615d848b" class="DSPFListTable" cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, serif; width: 100%"> <tr> <td style="font: bold 10pt Times New Roman, Times, serif; vertical-align: top; width: 27pt">8.</td> <td style="vertical-align: top; text-align: justify; width: auto"> <div style="font: bold 10pt Times New Roman, Times, serif">Property and equipment:</div> </td> </tr> </table> </div> <div><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify; text-indent: 36pt">Property and equipment consists of the following (in thousands):</div> <div><br /> </div> <div><br /> </div> <div> <table id="z19ae85802ee440708514b761bcb08509" cellspacing="0" cellpadding="0" align="center" style="font: 10pt Times New Roman, Times, serif; width: 100%"> <tr> <td style="vertical-align: bottom; vertical-align: bottom"> </td> <td style="vertical-align: bottom; vertical-align: bottom"> </td> <td colspan="6" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000; text-align: center">December 31,</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px"> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px"> </td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000; text-align: center">2017</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left"> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px"> </td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">2016</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 76%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Computer software</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">75</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">72</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 76%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Computer equipment</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">140</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">110</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 76%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Office furniture and equipment</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">46</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">46</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 76%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Leasehold improvements</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">1</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">1</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 76%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">262</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">229</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 76%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Less:  accumulated depreciation and amortization</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">(162</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">(126</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 4px; width: 76%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #cceeff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">100</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">103</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #cceeff"> </td> </tr> </table> </div> <div style="text-align: left; clear: both"><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Depreciation expense for the years ended December 31, 2017 and 2016 was $36,000 and $14,000, respectively.</div>

<div><table id="ze28ee7e3d41644d885a508b2c33de8a0" class="DSPFListTable" cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, serif; width: 100%"> <tr><td style="font: bold 10pt Times New Roman, Times, serif; vertical-align: top; width: 27pt">9.</td> <td style="vertical-align: top; text-align: justify; width: auto"> <div style="font: bold 10pt Times New Roman, Times, serif">Intangible Assets</div> </td> </tr> </table> </div> <div style="text-align: justify"><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">Intangible assets subject to amortization consisted of the following (in thousands):</div> <div><br /> </div> <div><br /> </div> <div> <table id="z1138ef63091243e08027109d7e26d14f" cellspacing="0" cellpadding="0" align="center" style="font: 10pt Times New Roman, Times, serif; width: 100%"> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 55%"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 9%">  </td> <td colspan="11" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000; text-align: center">December 31, 2017</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 55%"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center"><u>Intangible</u></div> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; width: 9%"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">Estimated</div> <div style="font: normal 10pt Times New Roman, Times, serif; color: #000000; text-align: center">useful life</div> </td> <td colspan="3" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">Gross</div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">carrying</div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">amount</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%"> </td> <td colspan="3" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">Accumulated</div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">Amortization</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%"> </td> <td colspan="3" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">Net</div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">carrying</div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">amount</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 55%"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 9%"> </td> <td colspan="3" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%"> </td> <td colspan="3" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%"> </td> <td colspan="3" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 55%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left; margin-left: 9pt; text-indent: -9pt">Investment Management and Advisory Contracts</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 9%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">  9 years</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">3,181</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">1,778</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">1,403</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 55%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Trademarks</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 9%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">   10 years</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">433</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">218</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">215</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 55%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Proprietary Software and</div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Technology</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 9%; background-color: #cceeff"> <div style="text-align: center"> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">4 years</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">960</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">960</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">-</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 55%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 9%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">4,574</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">2,956</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">1,618</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff"> </td> </tr> </table> </div> <div style="clear: both"><br /> </div> <div><br /> </div> <div> <table id="z6fa1d233414f40b58725fc056b8cd6d4" cellspacing="0" cellpadding="0" align="center" style="font: 10pt Times New Roman, Times, serif; width: 100%"> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 55%"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 9%">  </td> <td colspan="11" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000; text-align: center">December 31, 2016</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 55%"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center"><u>Intangible</u></div> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; width: 9%"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">Estimated</div> <div style="font: normal 10pt Times New Roman, Times, serif; color: #000000; text-align: center">useful life</div> </td> <td colspan="3" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">Gross</div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">carrying</div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">amount</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%"> </td> <td colspan="3" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">Accumulated</div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">Amortization</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%"> </td> <td colspan="3" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">Net</div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">carrying</div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">amount</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 55%"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 9%"> </td> <td colspan="3" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%"> </td> <td colspan="3" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%"> </td> <td colspan="3" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 55%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Investment Management and Advisory Contracts</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 9%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">  9 years</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">3,181</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">1,425</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">1,756</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 55%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Trademarks</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 9%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">   10 years</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">433</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">174</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">259</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 55%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Proprietary Software and</div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">    Technology</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 9%; background-color: #cceeff"> <div style="text-align: center"> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">4 years</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">960</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">960</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">-</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 55%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 9%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">4,574</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">2,559</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">2,015</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff"> </td> </tr> </table> </div> <div style="clear: both"><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">Amortization expense amounted to $397,000 and $629,000 for each of the years ended December 31, 2017 and 2016, respectively. The weighted-average amortization period for total amortizable intangibles at December 31, 2017 is 4 years. Estimated amortization expense for each of the five succeeding years and thereafter is as follows (in thousands):</div> <div> </div> <div> <table id="zae9537de0656466b93ee060dd0b347d2" cellspacing="0" cellpadding="0" align="left" style="font: 10pt Times New Roman, Times, serif; border-collapse: collapse; width: 50%"> <tr> <td style="border-top: #000000 2px solid; border-bottom: #000000 2px solid; border-left: #000000 2px solid; vertical-align: top; width: 60%"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Year ending December 31,</div> <div style="text-align: left"> </div> </td> <td style="border: #000000 2px solid; vertical-align: top; width: 40%"> </td> </tr> <tr> <td style="vertical-align: top; border-bottom: #000000 2px solid; border-left: #000000 2px solid; width: 60%"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">2018</div> <div style="text-align: left"> </div> </td> <td style="border-right: #000000 2px solid; border-bottom: #000000 2px solid; border-left: #000000 2px solid; vertical-align: top; width: 40%"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left; margin-left: 9pt">397</div> </td> </tr> <tr> <td style="vertical-align: top; border-bottom: #000000 2px solid; border-left: #000000 2px solid; width: 60%"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">2019</div> <div style="text-align: left"> </div> </td> <td style="border-right: #000000 2px solid; border-bottom: #000000 2px solid; border-left: #000000 2px solid; vertical-align: top; width: 40%"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left; margin-left: 9pt">397</div> </td> </tr> <tr> <td style="vertical-align: top; border-bottom: #000000 2px solid; border-left: #000000 2px solid; width: 60%"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">2020</div> <div style="text-align: left"> </div> </td> <td style="border-right: #000000 2px solid; border-bottom: #000000 2px solid; border-left: #000000 2px solid; vertical-align: top; width: 40%"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left; margin-left: 9pt">397</div> </td> </tr> <tr> <td style="vertical-align: top; border-bottom: #000000 2px solid; border-left: #000000 2px solid; width: 60%"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">2021</div> <div style="text-align: left"> </div> </td> <td style="border-right: #000000 2px solid; border-bottom: #000000 2px solid; border-left: #000000 2px solid; vertical-align: top; width: 40%"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left; margin-left: 9pt">386</div> </td> </tr> <tr> <td style="vertical-align: top; border-left: #000000 2px solid; width: 60%"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">2022</div> </td> <td style="border-right: #000000 2px solid; border-left: #000000 2px solid; vertical-align: top; width: 40%"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left; margin-left: 9pt"><u>  41</u></div> <div style="text-align: left"> </div> </td> </tr> <tr> <td style="vertical-align: top; border-bottom: #000000 2px solid; border-left: #000000 2px solid; width: 60%"> </td> <td style="border-right: #000000 2px solid; border-bottom: #000000 2px solid; border-left: #000000 2px solid; vertical-align: top; width: 40%"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left; margin-left: 9pt"><u>$1,618</u></div> <div style="text-align: left"> </div></td></tr></table></div>

<div><div style="text-align: justify"><table id="z68acd1f4698f4980ae979e969b862d14" class="DSPFListTable" cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, serif; width: 100%"> <tr> <td style="font: bold 10pt Times New Roman, Times, serif; vertical-align: top; width: 27pt">10.</td> <td style="vertical-align: top; text-align: justify; width: auto"> <div style="font: bold 10pt Times New Roman, Times, serif">Capital Stock</div> </td> </tr> </table> </div> <div><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">The Company’s Board of Directors, without any vote or action by the holders of common stock, is authorized to issue preferred stock from time to time in one or more series and to determine the number of shares and to fix the powers, designations, preferences and relative, participating, optional or other special rights of any series of preferred stock.</div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify"> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">The Board of Directors authorized the Company to repurchase up to 5,000,000 outstanding shares of common stock from time to time either in open market or privately negotiated transactions. At December 31, 2017, the Company had repurchased 2,041,971 shares of its common stock (of which 250,000 shares were purchased in 2016 at a cost of $340,000) and a total of 2,958,029 shares, remained available for repurchase.</div></div>

<div style="text-align: justify"> <table id="z3471bfb43901494a80c925e58d53aab7" class="DSPFListTable" cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, serif; width: 100%"> <tr> <td style="font: bold 10pt Times New Roman, Times, serif; vertical-align: top; width: 27pt">11.</td> <td style="vertical-align: top; text-align: justify; width: auto"> <div style="font: bold 10pt Times New Roman, Times, serif">Incentive stock plans and stock-based compensation</div> </td> </tr> </table> </div> <div style="text-align: justify"><br /> </div> <div style="font: italic bold 10pt Times New Roman, Times, serif; color: #000000; text-align: justify"><u>Common stock options</u></div> <div><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; text-align: justify">The Company had initially adopted a stock-based compensation plan for employees and non-employee members of its Board of Directors in November 2003 (the “2003 Plan”), which was subsequently amended in March 2007 (the “2003 Plan Amendment”).  In December 2007, the Company adopted the National Patent Development Corporation 2007 Incentive Stock Plan (the “2007 NPDC Plan”).  The plans provide for up to 3,500,000 and 7,500,000 awards for shares under the 2003 Plan Amendment and 2007 NPDC Plan, respectively, in the form of discretionary grants of stock options, restricted stock shares, restricted stock units (RSUs) and other stock-based awards to employees, directors and outside service providers. The Company’s plans are administered by the Compensation Committee of the Board of Directors, which consists solely of non-employee directors. The term of any option granted under the plans will not exceed ten years from the date of grant and, in the case of incentive stock options granted to a 10% or greater holder of total voting stock of the Company, three years from the date of grant.  The exercise price of any option granted under the plans may not be less than the fair market value of the common stock on the date of grant or, in the case of incentive stock options granted to a 10% or greater holder of total voting stock, 110% of such fair market value.</div> <div><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; text-align: justify">The Company recorded compensation expense of $300 and $9,000 for the years ended December 31, 2017 and 2016, respectively, under these plans.  As of December 31, 2017, the number of shares reserved and available for award under the 2007 NPDC Plan is 6,141,786 and under the 2003 Plan Amendment is 3,500,000.</div> <div style="text-align: left"><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; text-align: justify">During the year ended December 31, 2016, the Company issued 100,000 options to a consultant on March 28, 2016 and 25,000 options to an employee on March 31, 2016.  The options issued on March 28, 2016 vest equally over 3 years, and are subject to post vesting restrictions for sale for three years. The options issued on March 31, 2016 vest on the third anniversary of their issuance.  The options were issued at an exercise price of $1.29 and $1.34 per share for the options issued on March 28, 2016 and March 31, 2016, respectively, which price was equal to the market value at the date of the grant.  The 25,000 options issued on March 31, 2016 were canceled in the third quarter of 2016, upon the termination of the employee.   The grant-date fair value of the options were $0.50 and $0.52, respectively, which was estimated on the date of grant using the Black-Scholes option pricing model using the following assumptions:</div> <div style="text-align: left"><br /> </div> <div><br /> </div> <div style="text-align: left"><br /> </div> <div> <table id="z71baf69a0bb64989b9373e04cf0c02b0" cellspacing="0" cellpadding="0" align="left" style="font: 10pt Times New Roman, Times, serif; width: 40%"> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 88%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; text-align: left">Dividend yield</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: bold 10pt Times New Roman, Times, serif">0</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> <div style="font: bold 10pt Times New Roman, Times, serif">%</div> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 88%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 88%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; text-align: left">Expected volatility</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: bold 10pt Times New Roman, Times, serif">48.24</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> <div style="font: bold 10pt Times New Roman, Times, serif">%</div> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 88%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 88%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; text-align: left">Risk-free interest rate</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: bold 10pt Times New Roman, Times, serif">1.21</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> <div style="font: bold 10pt Times New Roman, Times, serif">%</div> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 88%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 88%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; text-align: left">Expected life (in years)</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: bold 10pt Times New Roman, Times, serif">4</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> </tr> </table> </div> <div style="clear: both"><br /> </div> <div style="text-align: left"><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; text-align: left">The fair value of the options granted on March 28, 2016 were reduced by an 8% discount for post vesting restrictions.</div> <div style="text-align: left"><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">The value of the options granted to the consultant are re-measured at each balance sheet date until performance is complete with the final measurement of fair value of the options made on the vesting dates.  The revised fair value is amortized over the remaining term of the option.  The value of the options is  $0.08 which  net value of $400 will be amortized over the remaining life of the options.</div> <div style="text-align: left"><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; text-align: justify">As of December 31, 2016, there were outstanding options to acquire 3,350,000 common shares, 3,250,000 of which were vested and exercisable, having a weighted average exercise price of $2.27 per share, a weighted average contractual term of 1 year and zero aggregate intrinsic value. </div> <div><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; text-align: justify">As of December 31, 2017, there were outstanding options to acquire 550,000 common shares under the 2007 NPDC Plan, 483,333 of which were vested and exercisable, having a weighted average exercise price of $1.35 per share, a weighted average contractual term of 3 years and zero aggregate intrinsic value.  During 2017, 2,800,000 options expired, without being exercised, with a weighted exercise price of $2.46 per share. </div> <div style="font: 10pt Times New Roman, Times, serif; text-align: justify"> </div> <div style="font: italic bold 10pt Times New Roman, Times, serif; color: #000000; text-align: justify"><u>Restricted stock units</u></div> <div><br /> </div> <div><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">The following RSUs were granted to employees of the Company under the 2007 NPDC Plan:</div> <div style="text-align: justify"><br /> </div> <div style="text-align: justify"> <table id="zb0fa7c8b22744a45b95ff44704053df6" class="DSPFListTable" cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, serif; width: 100%"> <tr> <td style="width: 20.25pt"></td> <td style="font: 10pt Times New Roman, Times, serif; vertical-align: top; width: 27pt">a)</td> <td style="vertical-align: top; text-align: justify; width: auto"> <div style="font: 10pt Times New Roman, Times, serif">17,738 RSUs were granted to certain employees on February 4, 2013, which vest equally over three years, with the first third vesting on February 4, 2014 and the second third vesting on February 4, 2015.  At December 31, 2017, 11,701 of the RSU’s were still outstanding.  The RSUs are valued based on the closing price of the Company’s common stock on February 4, 2013 of $2.40, less an average discount of 11% for post-vesting restrictions on sale until the three-year anniversary of the grant date, or an average price per share of $2.25.  The Company recorded compensation expense of $0 and $1,000, respectively, for the years ended December 31, 2017 and 2016 related to these RSUs.  There is no unrecognized compensation expense related to these RSUs at December 31, 2017.</div> </td> </tr> </table> </div> <div><br /> </div> <div><br /> </div> <div style="text-align: justify"> <table id="z395373f9c546437dadf12b3cbe6b6b2d" class="DSPFListTable" cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, serif; width: 100%"> <tr> <td style="width: 20.25pt"></td> <td style="font: 10pt Times New Roman, Times, serif; vertical-align: top; width: 27pt">b)</td> <td style="vertical-align: top; text-align: justify; width: auto"> <div style="font: 10pt Times New Roman, Times, serif">100,000 RSUs were issued on each of January 19, 2015 and March 31, 2015, to two newly appointed directors of the Company.  The RSUs will vest equally over 3 years, with the first third vesting in January and March 2016, respectively.  The RSUs are valued based on the closing price of the Company’s common stock on January 19, 2015 and March 31, 2015 of $1.70 and $1.85, respectively, less an average discount of 8% for post-vesting restrictions on sale until the three-year anniversary of the grant date, or an average price per share of $1.56 and $1.70, respectively.  The Company recorded compensation expense of $110,000 for the years ended December 31, 2017 and 2016 related to these RSUs. The total unrecognized compensation expense related to these unvested RSUs at December 31, 2017 is $16,000, which will be recognized over the remaining vesting period of approximately 2 months.  At December 31, 2017 and 2016, 133,332 and 66,666 of the RSU’s were vested.</div> </td> </tr> </table> </div>

<div style="text-align: justify"> <table id="zbdb2f03168434c3084dbb774f4f59ff8" class="DSPFListTable" cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, serif; width: 100%"> <tr> <td style="font: bold 10pt Times New Roman, Times, serif; vertical-align: top; width: 27pt">12.</td> <td style="vertical-align: top; text-align: justify; width: auto"> <div style="font: bold 10pt Times New Roman, Times, serif">Retirement plans</div> </td> </tr> </table> </div> <div style="text-align: justify"><br /> </div> <div style="text-align: justify"> <table id="z95cd781a9cef40f8be2a5d9216a4df21" class="DSPFListTable" cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, serif; width: 100%"> <tr> <td style="width: 20.25pt"></td> <td style="font: 10pt Times New Roman, Times, serif; vertical-align: top; width: 18pt">a)</td> <td style="vertical-align: top; text-align: justify; width: auto"> <div style="font: 10pt Times New Roman, Times, serif">The Company maintains a 401(k) Savings Plan (the “Plan”), for full time employees who have completed at least one hour of service coincident with the first day of each month.  The Plan permits pre-tax contributions by participants.   Effective January 15, 2013, the employees of Winthrop and its subsidiaries were eligible to participate in the Plan, and the Company ceased matching the participants contributions.</div> </td> </tr> </table> </div> <div><br /> </div> <div style="text-align: justify"> <table id="z6c39c088e6dc40a79190c5514864af0f" class="DSPFListTable" cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, serif; width: 100%"> <tr> <td style="width: 20.25pt"></td> <td style="font: 10pt Times New Roman, Times, serif; vertical-align: top; width: 15.75pt">b)</td> <td style="vertical-align: top; text-align: justify; width: auto"> <div style="font: 10pt Times New Roman, Times, serif">Winthrop maintains an officer retirement bonus plan (the “Bonus Plan”) that is an unfunded deferred compensation program providing retirement benefits equal to 10% of annual compensation, as defined, to those officers upon their retirement.   Effective December 1, 1999, the Plan was frozen so that no additional benefits will be earned.   The liability is payable to individual retired employees at the rate of $50,000 per year in equal monthly amounts commencing upon retirement.  The liability was recorded at $885,000 at the date of the Company’s acquisition of Winthrop, representing its estimated fair value computed based on its present value, utilizing a discount rate of 14%, which was estimated to be the acquired company’s weighted average cost of capital on such date from the perspective of a market participant.  The calculated discount of $1,027,000 at the date of acquisition is being amortized as interest expense over the period the obligation is outstanding by use of the effective interest method.   <font style="font: 10pt Times New Roman, Times, serif; color: #000000">For the years ended December 31, 2017 and 2016, interest expense, (included in Interest expense and other, net) amounted to $87,000 and $78,000, respectively.  </font>During 2016, an employee left the Company prior to his retirement date, and the Company recognized $23,000 of income related to the elimination of the related liability <font style="font: 10pt Times New Roman, Times, serif; color: #000000">and a corresponding credit to Compensation and benefits in the Consolidated Statement of Operations</font>.   <font style="font: 10pt Times New Roman, Times, serif; color: #000000">At December 31, 2017, and 2016 the present value of the obligation under the Bonus Plan was $657,000, and $770,000, respectively, net of discount of $367,000 and $454,000, respectively.  Of the undiscounted obligation of $1,024,000 at December 31, 2017, $190,000 is expected to be paid during 2018.</font></div></td></tr></table></div>

<div style="text-align: justify"> <table id="zd99de4d99d0042e29c8b92a97c0a1ad0" class="DSPFListTable" cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, serif; width: 100%"> <tr> <td style="font: bold 10pt Times New Roman, Times, serif; vertical-align: top; width: 27pt">13.</td> <td style="vertical-align: top; text-align: justify; width: auto"> <div style="font: bold 10pt Times New Roman, Times, serif">Commitments, Contingencies and Other</div> </td> </tr> </table> </div> <div style="text-align: left"><br /> </div> <div style="text-align: justify"> <table id="z460f93be6e2543a795ed1de26b18d3a1" class="DSPFListTable" cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, serif; width: 100%"> <tr> <td style="width: 20.25pt"></td> <td style="font: 10pt Times New Roman, Times, serif; vertical-align: top; width: 27pt">(a)</td> <td style="vertical-align: top; text-align: justify; width: auto"> <div style="font: 10pt Times New Roman, Times, serif">In August 2014, the Company entered into a five-year sublease in Greenwich, Connecticut for 10,000 square feet.  At December 31, 2017, annual future rent for the Greenwich space, which expires on September 30, 2019 aggregated $451,000 payable as follows; $255,000 (2018), and $196,000 (through September 30, 2019).  Rent expense charged to operations related to the facilities aggregated $248,000 and $240,000 in 2017 and 2016, respectively.  The rent expense in 2017 and 2016 included deferred rent of $44,000 and $58,000, respectively, due to straight lining the amounts payable over the lease term commencing in August 2014 upon the Company gaining access to the premises.</div> </td> </tr> </table> </div> <div style="font-family: Times New Roman, Times, serif">  </div> <div style="text-align: justify"> <table id="z06fe655e22b04ad5ab985b943d5b7421" class="DSPFListTable" cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, serif; width: 100%"> <tr> <td style="width: 18pt"></td> <td style="font: 10pt Times New Roman, Times, serif; vertical-align: top; width: 27pt">(b)</td> <td style="vertical-align: top; text-align: justify; width: auto"> <div style="font: 10pt Times New Roman, Times, serif">On September 26, 2014, the Connecticut Department of Energy and Environmental Protection (“DEEP”) issued two Orders requiring the investigation and repair of two dams in which the Company and its subsidiaries have certain ownership interests.  The first Order requires that the Company investigate and make specified repairs to the ACME Pond Dam located in Killingly, Connecticut.  The second Order, as subsequently revised by DEEP on October 10, 2014, requires that the Company investigate and make specified repairs to the Killingly Pond Dam located in Killingly, Connecticut.  The Company has administratively appealed and contested the allegations in both Orders.  On July 27, 2017, the Company entered into a Consent Order with the DEEP relative to Killingly Pond Dam. The consent order requires the Company to continue to perform routine maintenance and administrative procedures, the cost of which is not material to the Company’s financial position or results of operations. As the administrative appeal of the Order relative to ACME Pond Dam remains pending, it is not possible at this time to evaluate the likelihood of, or to estimate the range of loss from, an unfavorable outcome.</div></td></tr></table></div>

<div style="text-align: justify"> <table id="z6a0dc54566ac49c8b819c30abdab3665" class="DSPFListTable" cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, serif; width: 100%"> <tr> <td style="font: bold 10pt Times New Roman, Times, serif; vertical-align: top; width: 27pt">14.</td> <td style="vertical-align: top; text-align: justify; width: auto"> <div style="font: bold 10pt Times New Roman, Times, serif">Related party transactions</div> </td> </tr> </table> </div> <div><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; text-align: justify"><font style="font: 10pt Times New Roman, Times, serif; color: #000000">Wright acts as an investment advisor, its subsidiary acts as a principal underwriter and one officer of Winthrop is also an officer for a family of mutual funds from which investment management and distribution fees are earned based on the net asset values of the respective funds.   Such fees, which are included in Other investment advisory services, amounted to $403,000 and $778,000 for the years ended December 31, 2017 and 2016, respectively. </font>Effective October 1, 2017, the Boards of Trustees of the Wright Mutual Funds approved the elimination of the Rule 12b-1Distribution Plan and shareholder services fee applicable to each Fund. As a result, Fund shareholders will no longer pay a 12b-1 fee or shareholder services fee.</div>

<div style="text-align: justify"> <table id="zbfc2c63e018b4a8485932ca8203b56ea" class="DSPFListTable" cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, serif; width: 100%"> <tr> <td style="font: bold 10pt Times New Roman, Times, serif; vertical-align: top; color: #000000; width: 27pt">15.</td> <td style="vertical-align: top; text-align: justify; width: auto"> <div style="font: bold 10pt Times New Roman, Times, serif"><font style="font: 10pt Times New Roman, Times, serif; color: #000000">Segment </font>information</div> </td> </tr> </table> </div> <div><br /> </div> <div><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">The Company through its wholly-owned subsidiary has one operating segment which is engaged in the investment management and financial advisory business and derives its revenue from investment management services, other investment advisory services and financial research.</div> <div style="text-align: justify"><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">The Company’s corporate operations are not considered an operating segment and the Company does not allocate corporate expense for management and administrative services or income and expense related to other corporate activity to its operating segment to measure its operations.  The Company’s management utilizes adjusted EBITDA to measure segment performance.  Adjusted EBITDA is a measure defined as EBITDA before corporate expense, equity-based compensation, software implementation costs, relocation and severance costs and non-operating income (expense).   EBITDA is a measure defined as earnings (loss) before interest, taxes, depreciation and amortization.</div> <div style="text-align: justify"><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">Adjusted EBITDA is a non-GAAP measure and should not be construed as an alternative to operating loss or net loss as an indicator of the Company’s performance, or as an alternative to cash used in operating activities, or as a measure of liquidity, or as any other measure determined in accordance with GAAP.</div> <div style="text-align: justify"><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">Following is a reconciliation of adjusted EBITDA of the operating segment to loss from operations before income taxes (in thousands):</div> <div style="text-align: justify"><br /> </div> <div><br /> </div> <div> <table id="z8042ff51f7bc49698a7faea80a15d0b8" cellspacing="0" cellpadding="0" align="center" style="font: 10pt Times New Roman, Times, serif; width: 100%"> <tr> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px"> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px"> </td> <td colspan="6" nowrap="nowrap" style="vertical-align: bottom; font: normal bold 10pt Times New Roman, Times, serif; vertical-align: bottom; border-bottom: #000000 2px solid; color: #000000"> <div style="text-align: center">Year ended December 31,</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px"> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px"> </td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000; text-align: center">2017</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left"> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px"> </td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">2016</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 76%; background-color: #cceeff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Adjusted EBITDA of operating segment</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">954</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">785</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 76%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 76%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left"><u>Other operating expenses:</u></div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 76%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Corporate (1)</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">(1,555</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">(1,498</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 76%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Depreciation and amortization</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">(433</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">(643</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 76%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Equity based compensation</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">(218</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">(229</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 76%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Software implementation costs</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">(38</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> <div style="font: bold 10pt Times New Roman, Times, serif">)</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">-</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 76%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Relocation and severance costs</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">-</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">(99</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 76%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 76%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Operating loss</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">(1,290</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">(1,684</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 76%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 76%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left"><u>Non- operating income (expense):</u></div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 76%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Interest expense and other, net</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">(96</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">(100</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 76%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Share of loss from Investment in LLC</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">-</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">(294</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 76%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 4px; width: 76%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Loss from operations before income taxes</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">(1,386</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">(2,078</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 76%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 76%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 76%"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left; text-indent: 36pt">Following is a summary of the Company's total</div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left; text-indent: 36pt">assets (in thousands):</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; background-color: #ffffff"> </td> <td colspan="6" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000; text-align: center"><font style="font: normal bold 10pt Times New Roman, Times, serif; color: #000000; background-color: #ffffff">December 31,</font></div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left; background-color: #ffffff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 76%"> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 1%"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">2017</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%"> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 1%"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">2016</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 76%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Operating segment</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">6,160</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">6,224</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 76%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Corporate (2)</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">6,286</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">7,431</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 4px; width: 76%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #cceeff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">12,446</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">13,655</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #cceeff"> </td> </tr> </table> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left; clear: both"> (1) Consists principally of compensation related expenses, facility costs and professional fees</div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left"> (2) Consists principally of cash and cash equivalents</div>

<div><div style="text-align: justify"></div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">Accounts payable and accrued expenses consist of the following (in thousands):</div> <div style="text-align: justify"><br /> </div> <div> <table id="zb5f86d93b31644448ae2bc8ff112de31" cellspacing="0" cellpadding="0" border="0" style="font: 10pt Times New Roman, Times, serif; width: 90%"> <tr> <td style="vertical-align: bottom; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom"> </td> <td colspan="6" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">December 31,</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; padding-bottom: 2px; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px; vertical-align: bottom"> </td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 2px solid; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000; text-align: center">2017</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px; vertical-align: bottom"> </td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 2px solid; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">2016</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom"> </td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom"> </td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Accrued professional fees</div> </td> <td style="vertical-align: bottom; text-align: right; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">207</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">187</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #ffffff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Accrued compensation and related expenses</div> </td> <td style="vertical-align: bottom; text-align: right; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">144</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">161</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; padding-bottom: 2px; width: 76%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Other</div> </td> <td style="vertical-align: bottom; padding-bottom: 2px; text-align: right; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">378</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; padding-bottom: 2px; text-align: right; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">393</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; padding-bottom: 4px; width: 76%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; padding-bottom: 4px; text-align: right; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">729</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; padding-bottom: 4px; text-align: right; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">741</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> </tr> </table> </div> </div>

<div><div></div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify; text-indent: 36pt">Property and equipment consists of the following (in thousands):</div> <div><br /> </div> <div><br /> </div> <div> <table id="z19ae85802ee440708514b761bcb08509" cellspacing="0" cellpadding="0" align="center" style="font: 10pt Times New Roman, Times, serif; width: 100%"> <tr> <td style="vertical-align: bottom; vertical-align: bottom"> </td> <td style="vertical-align: bottom; vertical-align: bottom"> </td> <td colspan="6" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000; text-align: center">December 31,</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px"> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px"> </td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000; text-align: center">2017</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left"> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px"> </td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">2016</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 76%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Computer software</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">75</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">72</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 76%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Computer equipment</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">140</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">110</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 76%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Office furniture and equipment</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">46</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">46</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 76%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Leasehold improvements</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">1</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">1</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 76%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">262</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">229</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 76%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Less:  accumulated depreciation and amortization</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">(162</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">(126</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 4px; width: 76%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #cceeff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">100</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">103</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #cceeff"> </td> </tr> </table> </div> </div>

<div><div style="text-align: justify"></div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">Following is a reconciliation of adjusted EBITDA of the operating segment to loss from operations before income taxes (in thousands):</div> <div style="text-align: justify"><br /> </div> <div><br /> </div> <div> <table id="z8042ff51f7bc49698a7faea80a15d0b8" cellspacing="0" cellpadding="0" align="center" style="font: 10pt Times New Roman, Times, serif; width: 100%"> <tr> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px"> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px"> </td> <td colspan="6" nowrap="nowrap" style="vertical-align: bottom; font: normal bold 10pt Times New Roman, Times, serif; vertical-align: bottom; border-bottom: #000000 2px solid; color: #000000"> <div style="text-align: center">Year ended December 31,</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px"> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px"> </td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000; text-align: center">2017</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left"> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px"> </td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">2016</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 76%; background-color: #cceeff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Adjusted EBITDA of operating segment</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">954</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">785</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 76%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 76%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left"><u>Other operating expenses:</u></div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 76%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Corporate (1)</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">(1,555</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">(1,498</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 76%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Depreciation and amortization</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">(433</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">(643</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 76%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Equity based compensation</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">(218</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">(229</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 76%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Software implementation costs</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">(38</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> <div style="font: bold 10pt Times New Roman, Times, serif">)</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">-</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 76%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Relocation and severance costs</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">-</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">(99</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 76%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 76%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Operating loss</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">(1,290</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">(1,684</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 76%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 76%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left"><u>Non- operating income (expense):</u></div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 76%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Interest expense and other, net</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">(96</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">(100</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 76%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Share of loss from Investment in LLC</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">-</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">(294</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 76%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 4px; width: 76%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Loss from operations before income taxes</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">(1,386</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">(2,078</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 76%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 76%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 76%"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left; text-indent: 36pt">Following is a summary of the Company's total</div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left; text-indent: 36pt">assets (in thousands):</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; background-color: #ffffff"> </td> <td colspan="6" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000; text-align: center"><font style="font: normal bold 10pt Times New Roman, Times, serif; color: #000000; background-color: #ffffff">December 31,</font></div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left; background-color: #ffffff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 76%"> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 1%"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">2017</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%"> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 1%"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">2016</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 76%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Operating segment</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">6,160</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">6,224</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 76%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Corporate (2)</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">6,286</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">7,431</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 4px; width: 76%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #cceeff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">12,446</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">13,655</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #cceeff"> </td> </tr> </table> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left; clear: both"> (1) Consists principally of compensation related expenses, facility costs and professional fees</div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left"> (2) Consists principally of cash and cash equivalents</div></div>

294000

12000

54000

52000

54000

52000

P4Y

-148000

0.732

550000

3350000

483333

3250000

1.35

2.27

<div><div style="text-align: justify"></div> <div style="font: italic 10pt Times New Roman, Times, serif; color: #000000; text-align: justify"><font style="font: bold 10pt Times New Roman, Times, serif">Principles of consolidation</font>.</div> <div><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">The consolidated financial statements include the accounts of the Company and its subsidiaries all of which are wholly-owned. All significant intercompany accounts and transactions have been eliminated in consolidation.</div></div>

<div><div></div> <div style="font: italic bold 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Reclassification</div> <div><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; text-align: justify">The Company has reclassified $56,000 of Compensation and benefits for the year ended December 31, 2016 to Other operating expenses in order to be consistent with the presentation for the year ended December 31, 2017.</div></div>

<div><div style="font: italic bold 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">Use of estimates</div> <div style="text-align: justify"><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period.  Actual results could differ from these estimates.</div></div>

<div><div style="font: italic bold 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">Cash and cash equivalents</div> <div style="text-align: justify"><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">Cash equivalents represent short-term, highly liquid investments, which are readily convertible to cash and have maturities of three months or less at time of purchase.  Cash equivalents,<font style="font: italic bold 10pt Times New Roman, Times, serif"> </font>which are carried at cost plus accrued interest, which approximates fair value, consist of an investment in a money market fund which invests in treasury bills and amounted to approximately $5,209,000, and $6,301,000 at December 31, 2017 and 2016, respectively.</div> <div><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">Cash equivalents are classified within level 1 of the fair value hierarchy because they are valued using quoted market prices in active markets.</div></div>

<div><div style="font: italic bold 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Basic and diluted loss per share</div> <div style="text-align: justify"><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">Basic and diluted loss per share for the years ended December 31, 2017 and 2016, respectively, is calculated based on 19,216,000 and 19,085,000 weighted average outstanding shares of common stock including 135,000 and 65,000, respectively, common shares underlying vested RSUs.   Options for 550,000 and 3,350,000 shares of common stock in 2017 and 2016, respectively, and unvested RSUs for 66,000 and 132,000 shares of common stock in 2017 and 2016, respectively, were not included in the diluted computation as their effect would be anti-dilutive since the Company has losses from operations for both years.</div></div>

<div><div style="font: italic bold 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">Employees’ stock-based compensation</div> <div style="text-align: justify"><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">Stock-based compensation cost is measured at the grant date based on the fair value of the award and is recognized as an expense on a straight-line basis over the requisite service period, which is generally the vesting period. See Note 11. </div></div>

<div><div style="text-align: justify"></div> <div style="font: italic bold 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">Income taxes</div> <div style="text-align: justify"><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to carryforwards and to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.</div> <div style="text-align: justify"><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">The accounting for uncertain tax positions guidance requires that the Company recognize the financial statement benefit of a tax position only after determining that the Company would more likely than not sustain the position following an audit. For tax positions meeting the more-likely-than-not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. The Company recognizes interest and penalties on uncertain tax positions as interest and other expenses, respectively.  The Company has no uncertain tax positions at December 31, 2017 and 2016.</div></div>

<div><div style="text-align: justify"></div> <div style="font: italic bold 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">Concentrations of credit risk</div> <div style="text-align: justify"><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of cash investments.</div></div>

<div><div></div> <div style="font: italic bold 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">Property and equipment</div> <div style="text-align: justify"><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">Property and equipment are carried at cost, net of allowance for depreciation. Depreciation is provided on a straight-line basis over estimated useful lives of 3 to 7 years for equipment and furniture.</div></div>

<div><div style="text-align: left"></div> <div style="font: italic bold 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">Intangible Assets</div> <div style="text-align: justify"><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">Intangible assets, which were recorded in connection with the acquisition of Winthrop, are amortized over their estimated useful lives, on a straight-line basis. Intangible assets subject to amortization are tested for recoverability whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. The Company assesses the recoverability of its intangible assets by determining whether the unamortized balance can be recovered over the assets’ remaining life through undiscounted forecasted cash flows. If undiscounted forecasted cash flows indicate that the unamortized amounts will not be recovered, an adjustment will be made to reduce such amounts to fair value determined based on forecasted future cash flows discounted at a rate commensurate with the risk associated with achieving such cash flows. Future cash flows are based on trends of historical performance and the Company’s estimate of future performance, giving consideration to existing and anticipated competitive and economic conditions.   No impairment of intangible assets was recognized at December 31, 2017 or 2016.</div></div>

<div><div style="text-align: justify"></div> <div style="font: italic bold 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">Goodwill</div> <div style="text-align: justify"><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">Goodwill, which was recorded in connection with the acquisition of Winthrop, is not subject to amortization and is tested for impairment annually on December 31, or more frequently if events or changes in circumstances indicate that the asset may be impaired. The impairment test consists of a comparison of the fair value of the reporting unit, which consists of The Wright Companies operating segment, with its carrying amount, including goodwill. Fair value was calculated based upon future cash flows discounted at a rate commensurate with the risk involved, market based comparables and recent transactions within the financial services industry. Future cash flows are based on projection of adjusted EBITDA of the operating segment (see Note 15). If the carrying amount of the reporting unit exceeds its fair value then an analysis will be performed to compare the implied fair value of goodwill with the carrying amount of goodwill. An impairment loss will be recognized in an amount equal to the excess of the carrying amount over the implied fair value. After an impairment loss is recognized, the adjusted carrying amount of goodwill is its new accounting basis.  No impairment of goodwill was recognized at December 31, 2017 or 2016.  There were no changes in the carrying value of goodwill during 2017 or 2016.</div></div>

<div><div style="font: italic bold 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">Revenue recognition</div> <div style="text-align: justify"><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">Revenue from investment advisory services and investment management services are recognized over the period in which the service is performed.  Accordingly, the amount of such revenue billed as of the balance sheet date relating to periods after the balance sheet date is accounted for as deferred revenue.  Revenue from research reports is recognized monthly upon the receipt of payment from the third-party industry distributors.</div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify"> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">In May 2014, the Financial Accounting Standards Board issued Accounting Standards Update 2014-09 Revenue from Contracts with Customers (“ASC 606”). The new guidance creates a single, principle based model for revenue recognition and expands and improves disclosures about revenue. The new guidance is effective for the Company on January 1, 2018. The Company has performed an assessment and analysis of the Company’s current policies and practices and there will be no material change upon the adoption of ASC 606.</div></div>

<div><div style="text-align: left"></div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">The components of income tax (benefit) expense are as follows (in thousands):</div> <div style="text-align: left"><br /> </div> <div style="clear: both"> <table id="za3bb87470a2a444c8613bda40819fcd2" cellspacing="0" cellpadding="0" border="0" style="font: 10pt Times New Roman, Times, serif; width: 90%"> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 70%"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; width: 1%"> </td> <td colspan="6" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">Year Ended December 31,</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 70%"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left"> </div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 1%"> </td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000; text-align: center">2017</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 1%"> </td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">2016</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 70%"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left"><u>Current</u></div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; width: 1%"> </td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; width: 1%"> </td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 70%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Federal</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">-</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">-</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 70%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">State and local</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: right; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">52</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">54</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 70%; background-color: #cceeff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Total current</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: right; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">52</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">54</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 70%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left"> </div> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 70%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left"><u>Deferred</u></div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 70%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Federal</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">(148</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">-</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 70%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">State and local</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: right; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">-</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">-</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 70%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Total deferred</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: right; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">(148</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">-</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 70%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left"> </div> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 70%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Total income tax (benefit) expense</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: right; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">(96</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">54</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff"> </td></tr></table></div></div>

<div><div style="text-align: justify"></div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">Intangible assets subject to amortization consisted of the following (in thousands):</div> <div><br /> </div> <div><br /> </div> <div> <table id="z1138ef63091243e08027109d7e26d14f" cellspacing="0" cellpadding="0" align="center" style="font: 10pt Times New Roman, Times, serif; width: 100%"> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 55%"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 9%">  </td> <td colspan="11" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000; text-align: center">December 31, 2017</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 55%"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center"><u>Intangible</u></div> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; width: 9%"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">Estimated</div> <div style="font: normal 10pt Times New Roman, Times, serif; color: #000000; text-align: center">useful life</div> </td> <td colspan="3" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">Gross</div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">carrying</div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">amount</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%"> </td> <td colspan="3" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">Accumulated</div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">Amortization</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%"> </td> <td colspan="3" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">Net</div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">carrying</div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">amount</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 55%"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 9%"> </td> <td colspan="3" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%"> </td> <td colspan="3" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%"> </td> <td colspan="3" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 55%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left; margin-left: 9pt; text-indent: -9pt">Investment Management and Advisory Contracts</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 9%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">  9 years</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">3,181</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">1,778</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">1,403</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 55%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Trademarks</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 9%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">   10 years</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">433</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">218</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">215</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 55%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Proprietary Software and</div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Technology</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 9%; background-color: #cceeff"> <div style="text-align: center"> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">4 years</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">960</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">960</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">-</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 55%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 9%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">4,574</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">2,956</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">1,618</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff"> </td> </tr> </table> </div> <div style="clear: both"><br /> </div> <div><br /> </div> <div> <table id="z6fa1d233414f40b58725fc056b8cd6d4" cellspacing="0" cellpadding="0" align="center" style="font: 10pt Times New Roman, Times, serif; width: 100%"> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 55%"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 9%">  </td> <td colspan="11" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000; text-align: center">December 31, 2016</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 55%"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center"><u>Intangible</u></div> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; width: 9%"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">Estimated</div> <div style="font: normal 10pt Times New Roman, Times, serif; color: #000000; text-align: center">useful life</div> </td> <td colspan="3" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">Gross</div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">carrying</div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">amount</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%"> </td> <td colspan="3" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">Accumulated</div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">Amortization</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%"> </td> <td colspan="3" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">Net</div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">carrying</div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">amount</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 55%"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 9%"> </td> <td colspan="3" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%"> </td> <td colspan="3" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%"> </td> <td colspan="3" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 55%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Investment Management and Advisory Contracts</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 9%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">  9 years</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">3,181</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">1,425</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">1,756</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; width: 55%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Trademarks</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 9%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">   10 years</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">433</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">174</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">259</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 55%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Proprietary Software and</div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">    Technology</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 9%; background-color: #cceeff"> <div style="text-align: center"> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">4 years</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">960</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">960</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">-</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff"> </td> </tr> <tr> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 55%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 9%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">4,574</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">2,559</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; width: 1%; background-color: #ffffff"> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">2,015</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff"> </td></tr></table></div></div>

<div><div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">The weighted-average amortization period for total amortizable intangibles at December 31, 2017 is 4 years. Estimated amortization expense for each of the five succeeding years and thereafter is as follows (in thousands):</div> <div> </div> <div> <table id="zae9537de0656466b93ee060dd0b347d2" cellspacing="0" cellpadding="0" align="left" style="font: 10pt Times New Roman, Times, serif; border-collapse: collapse; width: 50%"> <tr> <td style="border-top: #000000 2px solid; border-bottom: #000000 2px solid; border-left: #000000 2px solid; vertical-align: top; width: 60%"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Year ending December 31,</div> <div style="text-align: left"> </div> </td> <td style="border: #000000 2px solid; vertical-align: top; width: 40%"> </td> </tr> <tr> <td style="vertical-align: top; border-bottom: #000000 2px solid; border-left: #000000 2px solid; width: 60%"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">2018</div> <div style="text-align: left"> </div> </td> <td style="border-right: #000000 2px solid; border-bottom: #000000 2px solid; border-left: #000000 2px solid; vertical-align: top; width: 40%"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left; margin-left: 9pt">397</div> </td> </tr> <tr> <td style="vertical-align: top; border-bottom: #000000 2px solid; border-left: #000000 2px solid; width: 60%"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">2019</div> <div style="text-align: left"> </div> </td> <td style="border-right: #000000 2px solid; border-bottom: #000000 2px solid; border-left: #000000 2px solid; vertical-align: top; width: 40%"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left; margin-left: 9pt">397</div> </td> </tr> <tr> <td style="vertical-align: top; border-bottom: #000000 2px solid; border-left: #000000 2px solid; width: 60%"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">2020</div> <div style="text-align: left"> </div> </td> <td style="border-right: #000000 2px solid; border-bottom: #000000 2px solid; border-left: #000000 2px solid; vertical-align: top; width: 40%"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left; margin-left: 9pt">397</div> </td> </tr> <tr> <td style="vertical-align: top; border-bottom: #000000 2px solid; border-left: #000000 2px solid; width: 60%"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">2021</div> <div style="text-align: left"> </div> </td> <td style="border-right: #000000 2px solid; border-bottom: #000000 2px solid; border-left: #000000 2px solid; vertical-align: top; width: 40%"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left; margin-left: 9pt">386</div> </td> </tr> <tr> <td style="vertical-align: top; border-left: #000000 2px solid; width: 60%"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">2022</div> </td> <td style="border-right: #000000 2px solid; border-left: #000000 2px solid; vertical-align: top; width: 40%"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left; margin-left: 9pt"><u>  41</u></div> <div style="text-align: left"> </div> </td> </tr> <tr> <td style="vertical-align: top; border-bottom: #000000 2px solid; border-left: #000000 2px solid; width: 60%"> </td> <td style="border-right: #000000 2px solid; border-bottom: #000000 2px solid; border-left: #000000 2px solid; vertical-align: top; width: 40%"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left; margin-left: 9pt"><u>$1,618</u></div> <div style="text-align: left"> </div> </td> </tr> </table> </div> </div>

11701

148000

1.980

2700000

0.00

<div><div><table id="z71baf69a0bb64989b9373e04cf0c02b0" cellspacing="0" cellpadding="0" align="left" style="font: 10pt Times New Roman, Times, serif; width: 40%"><tr><td style="vertical-align: bottom; width: 88%; background-color: #cceeff; vertical-align: bottom"><div style="font: 10pt Times New Roman, Times, serif; text-align: left">Dividend yield</div> </td> <td style="vertical-align: bottom; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif">0</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif">%</div> </td> </tr> <tr> <td style="vertical-align: bottom; width: 88%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 88%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; text-align: left">Expected volatility</div> </td> <td style="vertical-align: bottom; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif">48.24</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif">%</div> </td> </tr> <tr> <td style="vertical-align: bottom; width: 88%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 88%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; text-align: left">Risk-free interest rate</div> </td> <td style="vertical-align: bottom; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif">1.21</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif">%</div> </td> </tr> <tr> <td style="vertical-align: bottom; width: 88%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 88%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; text-align: left">Expected life (in years)</div> </td> <td style="vertical-align: bottom; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif">4</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td></tr></table></div></div>

-38000

0.10

770000

657000

50000

885000

0.14

1027000 454000 367000 23000

1024000

190000

132000

3350000

66000

550000

56000

6301000

5209000

19085000

19216000

65000

135000

17738

100000

11701

1.85

1.70

P3Y 2.40 0.11 0.08 0.08 2.25 1.70 1.56

110000

1000

P2M

66666

133332

16000

10000

255000

196000

451000

240000

248000

58000

44000

5000000

250000

2041971

340000

<div><div style="text-align: justify"><table id="ze032554421e1466fb14a590edeb3978c" class="DSPFListTable" cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, serif; width: 100%"> <tr> <td style="font: bold 10pt Times New Roman, Times, serif; vertical-align: top; width: 27pt">7.</td> <td style="vertical-align: top; text-align: justify; width: auto"> <div style="font: bold 10pt Times New Roman, Times, serif">Income taxes</div> </td> </tr> </table> </div> <div style="text-align: left"><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">The components of income tax (benefit) expense are as follows (in thousands):</div> <div style="text-align: left"><br /> </div> <div style="clear: both"> <table id="za3bb87470a2a444c8613bda40819fcd2" cellspacing="0" cellpadding="0" border="0" style="font: 10pt Times New Roman, Times, serif; width: 90%"> <tr> <td style="vertical-align: bottom; width: 70%; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; width: 1%; vertical-align: bottom"> </td> <td colspan="6" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">Year Ended December 31,</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; padding-bottom: 2px; width: 70%; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left"> </div> </td> <td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; vertical-align: bottom"> </td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 2px solid; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000; text-align: center">2017</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; vertical-align: bottom"> </td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 2px solid; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">2016</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 70%; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left"><u>Current</u></div> </td> <td nowrap="nowrap" style="vertical-align: bottom; width: 1%; vertical-align: bottom"> </td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; width: 1%; vertical-align: bottom"> </td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 70%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Federal</div> </td> <td style="vertical-align: bottom; text-align: right; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">-</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">-</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; padding-bottom: 2px; width: 70%; background-color: #ffffff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">State and local</div> </td> <td style="vertical-align: bottom; padding-bottom: 2px; text-align: right; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">52</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">54</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; padding-bottom: 2px; width: 70%; background-color: #cceeff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Total current</div> </td> <td style="vertical-align: bottom; padding-bottom: 2px; text-align: right; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">52</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">54</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 70%; background-color: #ffffff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left"> </div> </td> <td style="vertical-align: bottom; text-align: right; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 70%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left"><u>Deferred</u></div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 70%; background-color: #ffffff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Federal</div> </td> <td style="vertical-align: bottom; text-align: right; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">(148</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> <td style="vertical-align: bottom; text-align: right; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">-</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; padding-bottom: 2px; width: 70%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">State and local</div> </td> <td style="vertical-align: bottom; padding-bottom: 2px; text-align: right; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">-</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">-</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; padding-bottom: 2px; width: 70%; background-color: #ffffff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Total deferred</div> </td> <td style="vertical-align: bottom; padding-bottom: 2px; text-align: right; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">(148</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">-</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 70%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left"> </div> </td> <td style="vertical-align: bottom; text-align: right; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; padding-bottom: 2px; width: 70%; background-color: #ffffff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Total income tax (benefit) expense</div> </td> <td style="vertical-align: bottom; padding-bottom: 2px; text-align: right; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">(96</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">54</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> </tr> </table> </div> <div style="clear: both"> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">For the years ended December 31, 2017 and 2016, current income tax expense related to operations substantially represents minimum state income taxes. For the year ended December 31, 2017, deferred income tax benefit represents a reduction of the valuation allowance due to a change in tax law permitting alternative minimum tax credits to be refundable.</div> <div><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">The difference between the benefit for income taxes computed at the statutory rate and the reported amount of tax expense (benefit) from operations is as follows:</div> <div><br /> </div> <div><br /> </div> <div><br /> </div> <div> <table id="z3f97f1ce7e1c4eb897c2d0dd1583acd4" cellspacing="0" cellpadding="0" align="center" border="0" style="font: 10pt Times New Roman, Times, serif; width: 90%"> <tr> <td style="vertical-align: bottom; vertical-align: bottom"> </td> <td style="vertical-align: bottom; vertical-align: bottom"> </td> <td colspan="6" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">Year ended December 31,</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; padding-bottom: 2px; vertical-align: bottom"> </td> <td style="vertical-align: bottom; padding-bottom: 2px; vertical-align: bottom"> </td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 2px solid; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000; text-align: center">2017</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; vertical-align: bottom"> </td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 2px solid; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">2016</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Federal income tax rate</div> </td> <td style="vertical-align: bottom; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">(34.0</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">)%</div> </td> <td style="vertical-align: bottom; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">(34.0</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">)%</div> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #ffffff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">State income tax (net of federal effect)</div> </td> <td style="vertical-align: bottom; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">6.8</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000"> </div> </td> <td style="vertical-align: bottom; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">1.7</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Change in valuation allowance</div> </td> <td style="vertical-align: bottom; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">(251.5</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> <td style="vertical-align: bottom; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">34.3</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #ffffff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Deferred tax asset write-down</div> </td> <td style="vertical-align: bottom; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">73.2</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">-</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Non-deductible expenses</div> </td> <td style="vertical-align: bottom; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">0.6</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">0.6</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; padding-bottom: 2px; width: 76%; background-color: #ffffff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Impact of tax law change</div> </td> <td style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">198</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">-</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; padding-bottom: 2px; width: 76%; background-color: #cceeff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Effective tax rate</div> </td> <td style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">(6.9</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">)%</div> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">2.6</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">%</div> </td> </tr> </table> </div> <div><br /> </div> <div><br /> </div> <div><br /> </div> <div><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">The deferred tax assets and liabilities are summarized as follows (in thousands):</div> <div> <table id="z9e51751e779a478fa0152d8d66535c2a" cellspacing="0" cellpadding="0" align="center" style="font: 10pt Times New Roman, Times, serif; width: 90%"> <tr> <td style="vertical-align: bottom; width: 76%; vertical-align: bottom"> </td> <td style="vertical-align: bottom; width: 1%; vertical-align: bottom"> </td> <td colspan="6" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">December 31,</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; width: 76%; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; width: 1%; vertical-align: bottom"> </td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 2px solid; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000; text-align: center">2017</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; width: 1%; vertical-align: bottom"> </td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 2px solid; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">2016</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; vertical-align: bottom"> <div style="font: italic 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Deferred tax assets:</div> </td> <td style="vertical-align: bottom; width: 1%; vertical-align: bottom"> </td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; vertical-align: bottom"> </td> <td style="vertical-align: bottom; width: 1%; vertical-align: bottom"> </td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Net operating loss carryforwards</div> </td> <td style="vertical-align: bottom; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">6,356</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">8,809</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #ffffff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Equity-based compensation</div> </td> <td style="vertical-align: bottom; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">107</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">1,275</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Tax credit carryforwards</div> </td> <td style="vertical-align: bottom; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">148</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">148</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #ffffff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Accrued compensation</div> </td> <td style="vertical-align: bottom; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">180</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">305</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; padding-bottom: 2px; width: 76%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Accrued liabilities & other</div> </td> <td style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">157</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">105</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #ffffff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Gross deferred tax assets</div> </td> <td style="vertical-align: bottom; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">6,948</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">10,642</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; padding-bottom: 2px; width: 76%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Less: valuation allowance</div> </td> <td style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">(6,365</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">(9,850</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> </tr> <tr> <td style="vertical-align: bottom; padding-bottom: 2px; width: 76%; background-color: #ffffff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Deferred tax assets after valuation allowance</div> </td> <td style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">583</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">792</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #ffffff; vertical-align: bottom"> <div style="font: italic 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Deferred tax liabilities:</div> </td> <td style="vertical-align: bottom; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Intangible assets</div> </td> <td style="vertical-align: bottom; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #ffffff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Other</div> </td> <td style="vertical-align: bottom; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">(435</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> <td style="vertical-align: bottom; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">(784</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> </tr> <tr> <td style="vertical-align: bottom; padding-bottom: 2px; width: 76%; background-color: #cceeff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Deferred tax liabilities</div> </td> <td style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">-</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">(8</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> </tr> <tr> <td style="vertical-align: bottom; padding-bottom: 2px; width: 76%; background-color: #ffffff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Net Deferred tax assets</div> </td> <td style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">(435</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">(792</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> </tr> <tr> <td style="vertical-align: bottom; padding-bottom: 2px; width: 76%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">148</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">-</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> </tr> </table> </div> <div style="font-family: Times New Roman, Times, serif; clear: both"> </div> <div style="font: 10pt Times New Roman, Times, serif; text-align: justify">The Tax Cuts and Jobs Act (the "Act") was enacted in December 2017. Among other things, the Act reduces the U.S. federal corporate tax rate from 35 percent to 21 percent, eliminates the alternative minimum tax (“AMT”) for corporations, and provides that AMT credit carryforwards are refundable over a period of time beginning with the Company’s 2018 tax year through 2021. The reduction of the corporate tax rate resulted in a write-down of the Company’s net deferred tax assets of approximately $2.7 million, and a corresponding write-down of the valuation allowance. The Company recognized a deferred income tax benefit of $148,000 for the year ended December 31, 2017 due to a reduction of the valuation allowance related to the AMT credit carryforward. As a result of the Act, the AMT credit carryforward is determined to be more likely than not to be realized.</div> <div><br /> </div> <div style="background-color: #ffffff"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">A valuation allowance is provided when it is more likely than not that some portion of deferred tax assets will not be realized. The valuation allowance (decreased)  increased by approximately $(3,485,000) and $712,000 respectively, during the years ended December 31, 2017 and 2016. The decrease in the valuation allowance during the year ended December 31, 2017 was mainly due to a change in the corporate income tax rate per the Act. The increase in the valuation allowance during the year ended December 31, 2016 was mainly due to an increase of the net operating loss carryforward and other deferred tax assets.</div> <div><br /> </div> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: justify">The Company files a consolidated federal tax return with its subsidiaries. As of December 31, 2017, the Company has a federal net operating loss carryforward of approximately $21.2 million, which expires from 2031 through 2037, and various state and local net operating loss carryforwards totaling approximately $19.6 (pre-apportioned) and $17.6 (post-apportioned) million, which expire between 2018 and 2037. Approximately $1.3 million of the federal net operating loss carryforward and $8.5 million of the state net operating loss carryforward were acquired from Winthrop. The acquired federal net operating loss carryforward is limited in its utilization by Section 382 of the Internal Revenue Code due to an ownership change.</div></div></div>

<div><div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">The difference between the benefit for income taxes computed at the statutory rate and the reported amount of tax expense (benefit) from operations is as follows:</div> <div><br /> </div> <div><br /> </div> <div><br /> </div> <div> <table id="z3f97f1ce7e1c4eb897c2d0dd1583acd4" cellspacing="0" cellpadding="0" align="center" border="0" style="font: 10pt Times New Roman, Times, serif; width: 90%"> <tr> <td style="vertical-align: bottom; vertical-align: bottom"> </td> <td style="vertical-align: bottom; vertical-align: bottom"> </td> <td colspan="6" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">Year ended December 31,</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; padding-bottom: 2px; vertical-align: bottom"> </td> <td style="vertical-align: bottom; padding-bottom: 2px; vertical-align: bottom"> </td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 2px solid; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000; text-align: center">2017</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; vertical-align: bottom"> </td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 2px solid; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">2016</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Federal income tax rate</div> </td> <td style="vertical-align: bottom; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">(34.0</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">)%</div> </td> <td style="vertical-align: bottom; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">(34.0</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">)%</div> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #ffffff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">State income tax (net of federal effect)</div> </td> <td style="vertical-align: bottom; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">6.8</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000"> </div> </td> <td style="vertical-align: bottom; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">1.7</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Change in valuation allowance</div> </td> <td style="vertical-align: bottom; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">(251.5</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> <td style="vertical-align: bottom; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">34.3</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #ffffff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Deferred tax asset write-down</div> </td> <td style="vertical-align: bottom; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">73.2</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">-</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Non-deductible expenses</div> </td> <td style="vertical-align: bottom; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">0.6</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">0.6</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; padding-bottom: 2px; width: 76%; background-color: #ffffff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Impact of tax law change</div> </td> <td style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">198</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">-</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; padding-bottom: 2px; width: 76%; background-color: #cceeff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Effective tax rate</div> </td> <td style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">(6.9</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">)%</div> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">2.6</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">%</div> </td> </tr> </table> </div> </div>

<div><div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">The deferred tax assets and liabilities are summarized as follows (in thousands):</div> <div> <table id="z9e51751e779a478fa0152d8d66535c2a" cellspacing="0" cellpadding="0" align="center" style="font: 10pt Times New Roman, Times, serif; width: 90%"> <tr> <td style="vertical-align: bottom; width: 76%; vertical-align: bottom"> </td> <td style="vertical-align: bottom; width: 1%; vertical-align: bottom"> </td> <td colspan="6" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">December 31,</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; width: 76%; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; width: 1%; vertical-align: bottom"> </td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 2px solid; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000; text-align: center">2017</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; width: 1%; vertical-align: bottom"> </td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 2px solid; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: center">2016</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; vertical-align: bottom"> <div style="font: italic 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Deferred tax assets:</div> </td> <td style="vertical-align: bottom; width: 1%; vertical-align: bottom"> </td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; vertical-align: bottom"> </td> <td style="vertical-align: bottom; width: 1%; vertical-align: bottom"> </td> <td colspan="2" nowrap="nowrap" style="vertical-align: bottom; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Net operating loss carryforwards</div> </td> <td style="vertical-align: bottom; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">6,356</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">8,809</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #ffffff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Equity-based compensation</div> </td> <td style="vertical-align: bottom; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">107</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">1,275</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Tax credit carryforwards</div> </td> <td style="vertical-align: bottom; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">148</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">148</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #ffffff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Accrued compensation</div> </td> <td style="vertical-align: bottom; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">180</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">305</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; padding-bottom: 2px; width: 76%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Accrued liabilities & other</div> </td> <td style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">157</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">105</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #ffffff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Gross deferred tax assets</div> </td> <td style="vertical-align: bottom; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">6,948</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">10,642</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; padding-bottom: 2px; width: 76%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Less: valuation allowance</div> </td> <td style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">(6,365</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">(9,850</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> </tr> <tr> <td style="vertical-align: bottom; padding-bottom: 2px; width: 76%; background-color: #ffffff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Deferred tax assets after valuation allowance</div> </td> <td style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">583</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">792</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #ffffff; vertical-align: bottom"> <div style="font: italic 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Deferred tax liabilities:</div> </td> <td style="vertical-align: bottom; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Intangible assets</div> </td> <td style="vertical-align: bottom; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 76%; background-color: #ffffff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Other</div> </td> <td style="vertical-align: bottom; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">(435</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> <td style="vertical-align: bottom; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">(784</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> </tr> <tr> <td style="vertical-align: bottom; padding-bottom: 2px; width: 76%; background-color: #cceeff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Deferred tax liabilities</div> </td> <td style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">-</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">(8</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> </tr> <tr> <td style="vertical-align: bottom; padding-bottom: 2px; width: 76%; background-color: #ffffff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000; text-align: left">Net Deferred tax assets</div> </td> <td style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">(435</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">(792</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff; vertical-align: bottom"> <div style="font: 10pt Times New Roman, Times, serif; color: #000000">)</div> </td> </tr> <tr> <td style="vertical-align: bottom; padding-bottom: 2px; width: 76%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">148</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">$</div> </td> <td style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff; vertical-align: bottom"> <div style="font: bold 10pt Times New Roman, Times, serif; color: #000000">-</div> </td> <td nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff; vertical-align: bottom"> </td> </tr> </table> </div> <div style="font-family: Times New Roman, Times, serif; clear: both"> </div></div>

Consists principally of cash and cash equivalents Consists principally of compensation related expenses, facility costs and professional fees

EX-101.SCH 7 wish-20171231.xsd XBRL TAXONOMY EXTENSION SCHEMA 00000001 - Document - Document and Entity Information link:presentationLink link:calculationLink link:definitionLink 00000002 - Statement - CONSOLIDATED STATEMENTS OF OPERATIONS link:presentationLink link:calculationLink link:definitionLink 00000003 - Statement - CONSOLIDATED BALANCE SHEETS link:presentationLink link:calculationLink link:definitionLink 00000004 - Statement - CONSOLIDATED BALANCE SHEETS (Parenthetical) link:presentationLink link:calculationLink link:definitionLink 00000005 - Statement - CONSOLIDATED STATEMENTS OF CASH FLOWS link:presentationLink link:calculationLink link:definitionLink 00000006 - Statement - CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) link:presentationLink link:calculationLink link:definitionLink 00000007 - Statement - CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY link:presentationLink link:calculationLink link:definitionLink 00000008 - Disclosure - Description of activities link:presentationLink link:calculationLink link:definitionLink 00000009 - Disclosure - Summary of significant accounting policies link:presentationLink link:calculationLink link:definitionLink 00000010 - Disclosure - Certain new accounting guidance link:presentationLink link:calculationLink link:definitionLink 00000011 - Disclosure - Liability for Contingent Consideration link:presentationLink link:calculationLink link:definitionLink 00000012 - Disclosure - Short-term investments link:presentationLink link:calculationLink link:definitionLink 00000013 - Disclosure - Investment in LLC link:presentationLink link:calculationLink link:definitionLink 00000014 - Disclosure - Accounts receivable link:presentationLink link:calculationLink link:definitionLink 00000015 - Disclosure - Accounts payable and accrued expenses link:presentationLink link:calculationLink link:definitionLink 00000016 - Disclosure - Income taxes link:presentationLink link:calculationLink link:definitionLink 00000017 - Disclosure - Property and equipment link:presentationLink link:calculationLink link:definitionLink 00000018 - Disclosure - Intangible Assets link:presentationLink link:calculationLink link:definitionLink 00000019 - Disclosure - Capital Stock link:presentationLink link:calculationLink link:definitionLink 00000020 - Disclosure - Incentive stock plans and stock-based compensation link:presentationLink link:calculationLink link:definitionLink 00000021 - Disclosure - Retirement plans link:presentationLink link:calculationLink link:definitionLink 00000022 - Disclosure - Commitments, Contingencies and Other link:presentationLink link:calculationLink link:definitionLink 00000023 - Disclosure - Related party transactions link:presentationLink link:calculationLink link:definitionLink 00000024 - Disclosure - Segment Information link:presentationLink link:calculationLink link:definitionLink 00000025 - Disclosure - Summary of Significant Accounting Policies (Policies) link:presentationLink link:calculationLink link:definitionLink 00000026 - Disclosure - Short-term investments (Tables) link:presentationLink link:calculationLink link:definitionLink 00000027 - Disclosure - Accounts payable and accrued expenses (Tables) link:presentationLink link:calculationLink link:definitionLink 00000028 - Disclosure - Income taxes (Tables) link:presentationLink link:calculationLink link:definitionLink 00000029 - Disclosure - Property and equipment (Tables) link:presentationLink link:calculationLink link:definitionLink 00000030 - Disclosure - Intangible Assets (Tables) link:presentationLink link:calculationLink link:definitionLink 00000031 - Disclosure - Incentive stock plans and stock-based compensation (Tables) link:presentationLink link:calculationLink link:definitionLink 00000032 - Disclosure - Segment Information (Tables) link:presentationLink link:calculationLink link:definitionLink 00000033 - Disclosure - Summary of significant accounting policies (Details) link:presentationLink link:calculationLink link:definitionLink 00000034 - Disclosure - Summary of significant accounting policies (Narrative) (Details) link:presentationLink link:calculationLink link:definitionLink 00000035 - Disclosure - Investment in LLC (Details) link:presentationLink link:calculationLink link:definitionLink 00000036 - Disclosure - Accounts payable and accrued expenses (Details) link:presentationLink link:calculationLink link:definitionLink 00000037 - Disclosure - Income taxes (Components of Income Tax Expense (Benefit)) (Details) link:presentationLink link:calculationLink link:definitionLink 00000038 - Disclosure - Income taxes (Differences Between Statutory and Reported Amount Tax Rates) (Details) link:presentationLink link:calculationLink link:definitionLink 00000039 - Disclosure - Income taxes (Deferred Tax Assets and Liabilities) (Details) link:presentationLink link:calculationLink link:definitionLink 00000040 - Disclosure - Income taxes (Narrative) (Details) link:presentationLink link:calculationLink link:definitionLink 00000041 - Disclosure - Property and equipment (Details) link:presentationLink link:calculationLink link:definitionLink 00000042 - Disclosure - Intangible Assets (Intangible Assets) (Details) link:presentationLink link:calculationLink link:definitionLink 00000043 - Disclosure - Intangible Assets (Estimated Amortization Expense) (Details) link:presentationLink link:calculationLink link:definitionLink 00000044 - Disclosure - Capital Stock (Details) link:presentationLink link:calculationLink link:definitionLink 00000045 - Disclosure - Incentive stock plans and stock-based compensation (Common Stock Options) (Details) link:presentationLink link:calculationLink link:definitionLink 00000046 - Disclosure - Incentive stock plans and stock-based compensation (Restricted Stock) (Details) link:presentationLink link:calculationLink link:definitionLink 00000047 - Disclosure - Retirement plans (Details) link:presentationLink link:calculationLink link:definitionLink 00000048 - Disclosure - Commitments, Contingencies and Other (Details) link:presentationLink link:calculationLink link:definitionLink 00000049 - Disclosure - Related party transactions (Details) link:presentationLink link:calculationLink link:definitionLink 00000050 - Disclosure - Segment Information (Details) link:presentationLink link:calculationLink link:definitionLink EX-101.CAL 8 wish-20171231_cal.xml XBRL TAXONOMY EXTENSION CALCULATION LINKBASE EX-101.DEF 9 wish-20171231_def.xml XBRL TAXONOMY EXTENSION DEFINITION LINKBASE EX-101.LAB 10 wish-20171231_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE Statement, Equity Components [Axis] Common Stock [Member] Additional paid-in capital [Member] Accumulated deficit [Member] Treasury stock, at cost [Member] Segments [Axis] Operating Segment [Member] Antidilutive Securities [Axis] Restricted Stock Units (RSUs) [Member] Employee Stock Option [Member] Property, Plant and Equipment, Type [Axis] Office Furniture and Equipment [Member] Range [Axis] Maximum [Member] Minimum [Member] Plan Name [Axis] 2007 NPDC Plan [Member] 2003 Plan [Member] Award Type [Axis] Title of Individual [Axis] Employees [Member] Two Newly Appointed Directors [Member] Defined Benefit Plans and Other Postretirement Benefit Plans [Axis] Pension Plans, Defined Benefit [Member] Computer Software [Member] Computer Equipment [Member] Leasehold Improvements [Member] Finite-Lived Intangible Assets by Major Class [Axis] Investment Management and Advisory Contracts [Member] Trademarks [Member] Proprietary Software and Technology [Member] Corporate [Member] Investment, Name [Axis] EGS [Member] Related Party [Axis] Marshall Geller [Member] Income Tax Authority [Axis] Federal [Member] New York State [Member] Tax Period [Axis] Pre-apportioned [Member] Post-apportioned [Member] Subsidiaries [Member] Scenario [Axis] Restatement Adjustment [Member] Counterparty Name [Axis] Merriman Holdings, Inc. [Member] Short-term Debt, Type [Axis] Senior Secured Note [Member] Merriman Capital, Inc. [Member] Winthrop [Member] Employee [Member] Subsequent Event Type [Axis] Subsequent Event [Member] Document And Entity Information [Abstract] Document Type Amendment Flag Document Period End Date Entity Registrant Name Entity Central Index Key Current Fiscal Year End Date Document Fiscal Period Focus Document Fiscal Year Focus Entity Filer Category Entity Common Stock, Shares Outstanding Entity Current Reporting Status Entity Well-known Seasoned Issuer Entity Voluntary Filers Entity Public Float Income Statement [Abstract] Revenues Investment management services Other investment advisory services Financial research and related data Total revenues Expenses Compensation and benefits Other operating Total expenses Operating loss Share of loss from Investment in LLC Interest expense and other, net Change in fair value of liability for contingent consideration Loss from operations before income taxes Income tax benefit (expense) Net loss Basic and diluted net loss per share Statement of Financial Position [Abstract] Assets Current assets Cash and cash equivalents Short-term investments Accounts receivable Prepaid income taxes Prepaid expenses and other current assets Total current assets Property and equipment, net Intangible assets, net Goodwill Investment in LLC Deferred tax asset Investment in undeveloped land Other assets Total assets Liabilities and stockholders' equity Current liabilities Accounts payable and accrued expenses Deferred revenue Income taxes payable Current portion of officers retirement bonus liability Total current liabilities Officers retirement bonus liability, net of current portion Total liabilities Stockholders' equity Preferred stock, par value $0.01 per share, authorized 10,000,000 shares; none issued Common stock, par value $0.01 per share, authorized 30,000,000 shares; issued 19,962,014 in 2017 and 19,830,219 in 2016 (including 11,701 shares issuable for vested restricted stock units in 2017 and 2016); outstanding 19,135,094 in 2017 and 19,003,299 in 2016 Additional paid-in capital Accumulated deficit Treasury stock, at cost (815,219 in 2017 and 2016) Total stockholders' equity Total liabilities and stockholders' equity Statement [Table] Statement [Line Items] Preferred stock, par value Preferred stock, shares authorized Preferred stock, issued Common stock, par value Common stock, shares authorized Common stock, issued Common stock, outstanding Treasury stock, shares Statement of Cash Flows [Abstract] Cash flows from operating activities Net loss Adjustments to reconcile net loss to cash used in operating activities: Share of loss from investment in LLC, in excess of cash received of $10 in 2016 Realized loss on sale of short-term investments Interest expense related to officers retirement bonus liability Depreciation and amortization Change in liability for contingent consideration Decrease in value of warrant Equity based compensation, including issuance of stock to directors Changes in other operating items: Accounts receivable Short-term investments Deferred tax asset Deferred revenue Officers retirement bonus liability Prepaid income tax Income taxes payable Prepaid expenses and other current assets Accounts payable and accrued expenses Net cash used in operating activities Cash flows from investing activities Proceeds from sale of short-term investments Investment in LLC Additions to property and equipment Net cash provided by (used in) investing activities Cash flows from financing activities Purchase of treasury stock Payment of liability for contingent consideration Repurchase of fully vested restricted stock units Net cash used in financing activities Net decrease in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Supplemental disclosures of cash flow information Net cash paid during the year for Income taxes Investment in LLC, cash received Equity Components [Axis] Balance Balance, shares Equity based compensation expense Repurchase of vested restricted stock units Repurchase of vested restricted stock units, shares Shares issuable for vested restricted stock units Shares issuable for vested restricted stock units, shares Issuance of common stock to directors Issuance of common stock to directors, shares Purchase of treasury stock Purchase of treasury stock, shares Balance Balance, shares Organization, Consolidation and Presentation of Financial Statements [Abstract] Description of activities Accounting Policies [Abstract] Summary of significant accounting policies Discontinued Operations and Disposal Groups [Abstract] Certain new accounting guidance Business Combinations [Abstract] Liability for Contingent Consideration Investments, Debt and Equity Securities [Abstract] Short-term investments EX-101.PRE 11 wish-20171231_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE XML 12 R1.htm IDEA: XBRL DOCUMENT

Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2017	Mar. 05, 2018	Jun. 30, 2017
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2017
Entity Registrant Name	Wright Investors Service Holdings, Inc.
Entity Central Index Key	0001279715
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2017
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		19,376,070
Entity Current Reporting Status	Yes
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Public Float			$ 6,000,000

XML 13 R2.htm IDEA: XBRL DOCUMENT

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Revenues
Investment management services	$ 2,213	$ 2,240
Other investment advisory services	2,387	2,765
Financial research and related data	812	706
Total revenues	5,412	5,711
Expenses
Compensation and benefits	3,364	3,745
Other operating	3,338	3,650
Total expenses	6,702	7,395
Operating loss	(1,290)	(1,684)
Share of loss from Investment in LLC		(294)
Interest expense and other, net	(96)	(100)
Loss from operations before income taxes	(1,386)	(2,078)
Income tax benefit (expense)	96	(54)
Net loss	$ (1,290)	$ (2,132)
Basic and diluted net loss per share	$ (0.07)	$ (0.11)

XML 14 R3.htm IDEA: XBRL DOCUMENT

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Current assets
Cash and cash equivalents	$ 6,018	$ 7,026
Accounts receivable	304	291
Prepaid expenses and other current assets	431	393
Total current assets	6,753	7,710
Property and equipment, net	100	103
Intangible assets, net	1,618	2,015
Goodwill	3,364	3,364
Deferred tax asset	148
Investment in undeveloped land	355	355
Other assets	108	108
Total assets	12,446	13,655
Current liabilities
Accounts payable and accrued expenses	729	741
Deferred revenue	6	11
Income taxes payable	30	37
Current portion of officers retirement bonus liability	190	200
Total current liabilities	955	989
Officers retirement bonus liability, net of current portion	467	570
Total liabilities	1,422	1,559
Stockholders' equity
Preferred stock, par value $0.01 per share, authorized 10,000,000 shares; none issued
Common stock, par value $0.01 per share, authorized 30,000,000 shares; issued 19,962,014 in 2017 and 19,830,219 in 2016 (including 11,701 shares issuable for vested restricted stock units in 2017 and 2016); outstanding 19,135,094 in 2017 and 19,003,299 in 2016	199	198
Additional paid-in capital	33,933	33,716
Accumulated deficit	(21,409)	(20,119)
Treasury stock, at cost (815,219 in 2017 and 2016)	(1,699)	(1,699)
Total stockholders' equity	11,024	12,096
Total liabilities and stockholders' equity	$ 12,446	$ 13,655

XML 15 R4.htm IDEA: XBRL DOCUMENT

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2017	Dec. 31, 2016
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000,000	10,000,000
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	30,000,000	30,000,000
Common stock, issued	19,962,014	19,830,219
Common stock, outstanding	19,135,094	19,003,299
Treasury stock, shares	815,219	815,219
Restricted Stock Units (RSUs) [Member]
Common stock, shares authorized	11,701	11,701

XML 16 R5.htm IDEA: XBRL DOCUMENT

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Cash flows from operating activities
Net loss	$ (1,290)	$ (2,132)
Adjustments to reconcile net loss to cash used in operating activities:
Share of loss from investment in LLC, in excess of cash received of $10 in 2016		284
Realized loss on sale of short-term investments		9
Interest expense related to officers retirement bonus liability	87	78
Depreciation and amortization	433	643
Decrease in value of warrant		12
Equity based compensation, including issuance of stock to directors	218	229
Changes in other operating items:
Accounts receivable	(13)	35
Deferred tax asset	(148)
Deferred revenue	(5)	11
Officers retirement bonus liability	(200)	(222)
Prepaid income tax		37
Income taxes payable	(7)	37
Prepaid expenses and other current assets	(38)	66
Accounts payable and accrued expenses	(12)	(289)
Net cash used in operating activities	(975)	(1,202)
Cash flows from investing activities
Proceeds from sale of short-term investments		148
Additions to property and equipment	(33)	(73)
Net cash provided by (used in) investing activities	(33)	75
Cash flows from financing activities
Purchase of treasury stock		(340)
Net cash used in financing activities		(340)
Net decrease in cash and cash equivalents	(1,008)	(1,467)
Cash and cash equivalents at the beginning of the year	7,026	8,493
Cash and cash equivalents at the end of the year	6,018	7,026
Supplemental disclosures of cash flow information
Income taxes	$ 59	$ 3

XML 17 R6.htm IDEA: XBRL DOCUMENT

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) $ in Thousands	12 Months Ended
	Dec. 31, 2016 USD ($)
Statement of Cash Flows [Abstract]
Investment in LLC, cash received	$ 10

XML 18 R7.htm IDEA: XBRL DOCUMENT

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Common Stock [Member]	Additional paid-in capital [Member]	Accumulated deficit [Member]	Treasury stock, at cost [Member]	Total
Balance at Dec. 31, 2015	$ 197	$ 33,488	$ (17,987)	$ (1,359)	$ 14,339
Balance, shares at Dec. 31, 2015	19,720,971
Net loss			(2,132)		(2,132)
Equity based compensation expense		119			119
Shares issuable for vested restricted stock units, shares	11,701
Issuance of common stock to directors	$ 1	109			110
Issuance of common stock to directors, shares	97,547
Purchase of treasury stock				(340)	(340)
Purchase of treasury stock, shares
Balance at Dec. 31, 2016	$ 198	33,716	(20,119)	(1,699)	12,096
Balance, shares at Dec. 31, 2016	19,830,219
Net loss			(1,290)		(1,290)
Equity based compensation expense		108			108
Issuance of common stock to directors	$ 1	109			110
Issuance of common stock to directors, shares	131,795
Balance at Dec. 31, 2017	$ 199	$ 33,933	$ (21,409)	$ (1,699)	$ 11,024
Balance, shares at Dec. 31, 2017	19,962,014

XML 19 R8.htm IDEA: XBRL DOCUMENT

Description of activities

12 Months Ended

Dec. 31, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Description of activities

1.	Description of activities

XML 20 R9.htm IDEA: XBRL DOCUMENT

Summary of significant accounting policies

12 Months Ended

Dec. 31, 2017

Accounting Policies [Abstract]

Summary of significant accounting policies

2.	Summary of significant accounting policies

Principles of consolidation.

Reclassification

Use of estimates

Cash and cash equivalents

Cash equivalents are classified within level 1 of the fair value hierarchy because they are valued using quoted market prices in active markets.

Basic and diluted loss per share

Employees’ stock-based compensation

Income taxes

Concentrations of credit risk

Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of cash investments.

Property and equipment

Intangible Assets

Goodwill

Goodwill, which was recorded in connection with the acquisition of Winthrop, is not subject to amortization and is tested for impairment annually on December 31, or more frequently if events or changes in circumstances indicate that the asset may be impaired. The impairment test consists of a comparison of the fair value of the reporting unit, which consists of The Wright Companies operating segment, with its carrying amount, including goodwill. Fair value was calculated based upon future cash flows discounted at a rate commensurate with the risk involved, market based comparables and recent transactions within the financial services industry. Future cash flows are based on projection of adjusted EBITDA of the operating segment (see Note 15). If the carrying amount of the reporting unit exceeds its fair value then an analysis will be performed to compare the implied fair value of goodwill with the carrying amount of goodwill. An impairment loss will be recognized in an amount equal to the excess of the carrying amount over the implied fair value. After an impairment loss is recognized, the adjusted carrying amount of goodwill is its new accounting basis. No impairment of goodwill was recognized at December 31, 2017 or 2016. There were no changes in the carrying value of goodwill during 2017 or 2016.

Revenue recognition

XML 21 R10.htm IDEA: XBRL DOCUMENT

Certain new accounting guidance

12 Months Ended

Dec. 31, 2017

Discontinued Operations and Disposal Groups [Abstract]

Certain new accounting guidance

3.	Certain new accounting guidance

XML 22 R11.htm IDEA: XBRL DOCUMENT

Investment in LLC

12 Months Ended

Dec. 31, 2017

Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures [Abstract]

Investment in LLC

4.	Investment in LLC

The Note, pursuant to the terms of an Intercreditor Agreement entered into with Merriman’s current debt holders, is senior to all of Merriman’s debt.

XML 23 R12.htm IDEA: XBRL DOCUMENT

Accounts receivable

12 Months Ended

Dec. 31, 2017

Receivables [Abstract]

Accounts receivable

5.	Accounts receivable

XML 24 R13.htm IDEA: XBRL DOCUMENT

Accounts payable and accrued expenses

12 Months Ended

Dec. 31, 2017

Accrued Liabilities and Other Liabilities [Abstract]

Accounts payable and accrued expenses

6.	Accounts payable and accrued expenses

Accounts payable and accrued expenses consist of the following (in thousands):

	December 31,
	2017		2016

Accrued professional fees	$	207	$	187
Accrued compensation and related expenses		144		161
Other		378		393
	$	729	$	741

XML 25 R14.htm IDEA: XBRL DOCUMENT

Income taxes

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Income taxes

7.	Income taxes

The components of income tax (benefit) expense are as follows (in thousands):

	Year Ended December 31,
	2017			2016
Current
Federal	$	-		$	-
State and local		52			54
Total current		52			54

Deferred
Federal	$	(148	)	$	-
State and local		-			-
Total deferred		(148	)		-

Total income tax (benefit) expense	$	(96	)	$	54

The difference between the benefit for income taxes computed at the statutory rate and the reported amount of tax expense (benefit) from operations is as follows:

	Year ended December 31,
	2017			2016
Federal income tax rate		(34.0	)%		(34.0	)%
State income tax (net of federal effect)		6.8			1.7
Change in valuation allowance		(251.5	)		34.3
Deferred tax asset write-down		73.2			-
Non-deductible expenses		0.6			0.6
Impact of tax law change		198			-
Effective tax rate		(6.9	)%		2.6	%

The deferred tax assets and liabilities are summarized as follows (in thousands):

	December 31,
	2017			2016
Deferred tax assets:
Net operating loss carryforwards	$	6,356		$	8,809
Equity-based compensation		107			1,275
Tax credit carryforwards		148			148
Accrued compensation		180			305
Accrued liabilities & other		157			105
Gross deferred tax assets		6,948			10,642
Less: valuation allowance		(6,365	)		(9,850	)
Deferred tax assets after valuation allowance		583			792

Deferred tax liabilities:
Intangible assets
Other		(435	)		(784	)
Deferred tax liabilities		-			(8	)
Net Deferred tax assets		(435	)		(792	)
	$	148		$	-

XML 26 R15.htm IDEA: XBRL DOCUMENT

Property and equipment

12 Months Ended

Dec. 31, 2017

Property, Plant and Equipment [Abstract]

Property and equipment

8.	Property and equipment:

Property and equipment consists of the following (in thousands):

	December 31,
	2017			2016
Computer software	$	75		$	72
Computer equipment		140			110
Office furniture and equipment		46			46
Leasehold improvements		1			1
		262			229
Less: accumulated depreciation and amortization		(162	)		(126	)
	$	100		$	103

Depreciation expense for the years ended December 31, 2017 and 2016 was $36,000 and $14,000, respectively.

XML 27 R16.htm IDEA: XBRL DOCUMENT

Intangible Assets

12 Months Ended

Dec. 31, 2017

Intangible Assets, Net (Excluding Goodwill) [Abstract]

Intangible Assets

9.	Intangible Assets

Intangible assets subject to amortization consisted of the following (in thousands):

		December 31, 2017
Intangible	Estimated useful life	Gross carrying amount			Accumulated Amortization			Net carrying amount

Investment Management and Advisory Contracts	9 years		$	3,181		$	1,778		$	1,403
Trademarks	10 years			433			218			215
Proprietary Software and Technology	4 years			960			960			-
			$	4,574		$	2,956		$	1,618

		December 31, 2016
Intangible	Estimated useful life	Gross carrying amount			Accumulated Amortization			Net carrying amount

Investment Management and Advisory Contracts	9 years		$	3,181		$	1,425		$	1,756
Trademarks	10 years			433			174			259
Proprietary Software and Technology	4 years			960			960			-
			$	4,574		$	2,559		$	2,015

Year ending December 31,
2018	397
2019	397
2020	397
2021	386
2022	41
	$1,618

XML 28 R17.htm IDEA: XBRL DOCUMENT

Capital Stock

12 Months Ended

Dec. 31, 2017

Stockholders' Equity Note [Abstract]

Capital Stock

10.	Capital Stock

XML 29 R18.htm IDEA: XBRL DOCUMENT

Incentive stock plans and stock-based compensation

12 Months Ended

Dec. 31, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Incentive stock plans and stock based compensation

11.	Incentive stock plans and stock-based compensation

Common stock options

Dividend yield	0	%

Expected volatility	48.24	%

Risk-free interest rate	1.21	%

Expected life (in years)	4

The fair value of the options granted on March 28, 2016 were reduced by an 8% discount for post vesting restrictions.

Restricted stock units

The following RSUs were granted to employees of the Company under the 2007 NPDC Plan:

XML 30 R19.htm IDEA: XBRL DOCUMENT

Retirement plans

12 Months Ended

Dec. 31, 2017

Liability, Retirement and Postemployment Benefits [Abstract]

Retirement plans

12.	Retirement plans

XML 31 R20.htm IDEA: XBRL DOCUMENT

Commitments, Contingencies and Other

12 Months Ended

Dec. 31, 2017

Commitments and Contingencies Disclosure [Abstract]

Commitments, Contingencies and Other

13.	Commitments, Contingencies and Other

(a)

(b)

XML 32 R21.htm IDEA: XBRL DOCUMENT

Related party transactions

12 Months Ended

Dec. 31, 2017

Related party transactions

14.	Related party transactions

XML 33 R22.htm IDEA: XBRL DOCUMENT

Segment Information

12 Months Ended

Dec. 31, 2017

Segment Reporting [Abstract]

Segment Information

15.	Segment information

Following is a reconciliation of adjusted EBITDA of the operating segment to loss from operations before income taxes (in thousands):

	Year ended December 31,
	2017			2016
Adjusted EBITDA of operating segment	$	954		$	785

Other operating expenses:
Corporate (1)		(1,555	)		(1,498	)
Depreciation and amortization		(433	)		(643	)
Equity based compensation		(218	)		(229	)
Software implementation costs		(38	)		-
Relocation and severance costs		-			(99	)

Operating loss		(1,290	)		(1,684	)

Non- operating income (expense):
Interest expense and other, net		(96	)		(100	)
Share of loss from Investment in LLC		-			(294	)

Loss from operations before income taxes	$	(1,386	)	$	(2,078	)


Following is a summary of the Company's total assets (in thousands):
	December 31,
		2017			2016
Operating segment	$	6,160		$	6,224
Corporate (2)		6,286			7,431
	$	12,446		$	13,655

(1) Consists principally of compensation related expenses, facility costs and professional fees

(2) Consists principally of cash and cash equivalents

XML 34 R23.htm IDEA: XBRL DOCUMENT

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2017
Accounting Policies [Abstract]
Principles of consolidation	Principles of consolidation. The consolidated financial statements include the accounts of the Company and its subsidiaries all of which are wholly-owned. All significant intercompany accounts and transactions have been eliminated in consolidation.
Reclassification	Reclassification The Company has reclassified $56,000 of Compensation and benefits for the year ended December 31, 2016 to Other operating expenses in order to be consistent with the presentation for the year ended December 31, 2017.
Use of estimates	Use of estimates The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from these estimates.
Cash and cash equivalents	Cash and cash equivalents Cash equivalents represent short-term, highly liquid investments, which are readily convertible to cash and have maturities of three months or less at time of purchase. Cash equivalents, which are carried at cost plus accrued interest, which approximates fair value, consist of an investment in a money market fund which invests in treasury bills and amounted to approximately $5,209,000, and $6,301,000 at December 31, 2017 and 2016, respectively. Cash equivalents are classified within level 1 of the fair value hierarchy because they are valued using quoted market prices in active markets.
Basic and diluted loss per share	Basic and diluted loss per share Basic and diluted loss per share for the years ended December 31, 2017 and 2016, respectively, is calculated based on 19,216,000 and 19,085,000 weighted average outstanding shares of common stock including 135,000 and 65,000, respectively, common shares underlying vested RSUs. Options for 550,000 and 3,350,000 shares of common stock in 2017 and 2016, respectively, and unvested RSUs for 66,000 and 132,000 shares of common stock in 2017 and 2016, respectively, were not included in the diluted computation as their effect would be anti-dilutive since the Company has losses from operations for both years.
Employees' stock based compensation	Employees’ stock-based compensation Stock-based compensation cost is measured at the grant date based on the fair value of the award and is recognized as an expense on a straight-line basis over the requisite service period, which is generally the vesting period. See Note 11.
Income taxes	Income taxes Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to carryforwards and to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The accounting for uncertain tax positions guidance requires that the Company recognize the financial statement benefit of a tax position only after determining that the Company would more likely than not sustain the position following an audit. For tax positions meeting the more-likely-than-not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. The Company recognizes interest and penalties on uncertain tax positions as interest and other expenses, respectively. The Company has no uncertain tax positions at December 31, 2017 and 2016.
Concentrations of credit risk	Concentrations of credit risk Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of cash investments.
Property and equipment	Property and equipment Property and equipment are carried at cost, net of allowance for depreciation. Depreciation is provided on a straight-line basis over estimated useful lives of 3 to 7 years for equipment and furniture.
Intangible Assets	Intangible Assets Intangible assets, which were recorded in connection with the acquisition of Winthrop, are amortized over their estimated useful lives, on a straight-line basis. Intangible assets subject to amortization are tested for recoverability whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. The Company assesses the recoverability of its intangible assets by determining whether the unamortized balance can be recovered over the assets’ remaining life through undiscounted forecasted cash flows. If undiscounted forecasted cash flows indicate that the unamortized amounts will not be recovered, an adjustment will be made to reduce such amounts to fair value determined based on forecasted future cash flows discounted at a rate commensurate with the risk associated with achieving such cash flows. Future cash flows are based on trends of historical performance and the Company’s estimate of future performance, giving consideration to existing and anticipated competitive and economic conditions. No impairment of intangible assets was recognized at December 31, 2017 or 2016.
Goodwill	Goodwill Goodwill, which was recorded in connection with the acquisition of Winthrop, is not subject to amortization and is tested for impairment annually on December 31, or more frequently if events or changes in circumstances indicate that the asset may be impaired. The impairment test consists of a comparison of the fair value of the reporting unit, which consists of The Wright Companies operating segment, with its carrying amount, including goodwill. Fair value was calculated based upon future cash flows discounted at a rate commensurate with the risk involved, market based comparables and recent transactions within the financial services industry. Future cash flows are based on projection of adjusted EBITDA of the operating segment (see Note 15). If the carrying amount of the reporting unit exceeds its fair value then an analysis will be performed to compare the implied fair value of goodwill with the carrying amount of goodwill. An impairment loss will be recognized in an amount equal to the excess of the carrying amount over the implied fair value. After an impairment loss is recognized, the adjusted carrying amount of goodwill is its new accounting basis. No impairment of goodwill was recognized at December 31, 2017 or 2016. There were no changes in the carrying value of goodwill during 2017 or 2016.
Revenue recognition	Revenue recognition Revenue from investment advisory services and investment management services are recognized over the period in which the service is performed. Accordingly, the amount of such revenue billed as of the balance sheet date relating to periods after the balance sheet date is accounted for as deferred revenue. Revenue from research reports is recognized monthly upon the receipt of payment from the third-party industry distributors. In May 2014, the Financial Accounting Standards Board issued Accounting Standards Update 2014-09 Revenue from Contracts with Customers (“ASC 606”). The new guidance creates a single, principle based model for revenue recognition and expands and improves disclosures about revenue. The new guidance is effective for the Company on January 1, 2018. The Company has performed an assessment and analysis of the Company’s current policies and practices and there will be no material change upon the adoption of ASC 606.

XML 35 R24.htm IDEA: XBRL DOCUMENT

Accounts payable and accrued expenses (Tables)

12 Months Ended

Dec. 31, 2017

Accrued Liabilities and Other Liabilities [Abstract]

Schedule of accounts payable and accrued expenses

Accounts payable and accrued expenses consist of the following (in thousands):

	December 31,
	2017		2016

Accrued professional fees	$	207	$	187
Accrued compensation and related expenses		144		161
Other		378		393
	$	729	$	741

XML 36 R25.htm IDEA: XBRL DOCUMENT

Income taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Schedule of Income Tax Expense (Benefit)

The components of income tax (benefit) expense are as follows (in thousands):

	Year Ended December 31,
	2017			2016
Current
Federal	$	-		$	-
State and local		52			54
Total current		52			54

Deferred
Federal	$	(148	)	$	-
State and local		-			-
Total deferred		(148	)		-

Total income tax (benefit) expense	$	(96	)	$	54

Differences Between Statutory and Reported Amount Tax Rates

The difference between the benefit for income taxes computed at the statutory rate and the reported amount of tax expense (benefit) from operations is as follows:

	Year ended December 31,
	2017			2016
Federal income tax rate		(34.0	)%		(34.0	)%
State income tax (net of federal effect)		6.8			1.7
Change in valuation allowance		(251.5	)		34.3
Deferred tax asset write-down		73.2			-
Non-deductible expenses		0.6			0.6
Impact of tax law change		198			-
Effective tax rate		(6.9	)%		2.6	%

Schedule of Deferred Tax Assets and Liabilities

The deferred tax assets and liabilities are summarized as follows (in thousands):

	December 31,
	2017			2016
Deferred tax assets:
Net operating loss carryforwards	$	6,356		$	8,809
Equity-based compensation		107			1,275
Tax credit carryforwards		148			148
Accrued compensation		180			305
Accrued liabilities & other		157			105
Gross deferred tax assets		6,948			10,642
Less: valuation allowance		(6,365	)		(9,850	)
Deferred tax assets after valuation allowance		583			792

Deferred tax liabilities:
Intangible assets
Other		(435	)		(784	)
Deferred tax liabilities		-			(8	)
Net Deferred tax assets		(435	)		(792	)
	$	148		$	-

XML 37 R26.htm IDEA: XBRL DOCUMENT

Property and equipment (Tables)

12 Months Ended

Dec. 31, 2017

Property, Plant and Equipment [Abstract]

Schedule of property and equipment

Property and equipment consists of the following (in thousands):

	December 31,
	2017			2016
Computer software	$	75		$	72
Computer equipment		140			110
Office furniture and equipment		46			46
Leasehold improvements		1			1
		262			229
Less: accumulated depreciation and amortization		(162	)		(126	)
	$	100		$	103

XML 38 R27.htm IDEA: XBRL DOCUMENT

Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2017

Intangible Assets, Net (Excluding Goodwill) [Abstract]

Components of Acquired Intangible Assets

Intangible assets subject to amortization consisted of the following (in thousands):

		December 31, 2017
Intangible	Estimated useful life	Gross carrying amount			Accumulated Amortization			Net carrying amount

Investment Management and Advisory Contracts	9 years		$	3,181		$	1,778		$	1,403
Trademarks	10 years			433			218			215
Proprietary Software and Technology	4 years			960			960			-
			$	4,574		$	2,956		$	1,618

		December 31, 2016
Intangible	Estimated useful life	Gross carrying amount			Accumulated Amortization			Net carrying amount

Investment Management and Advisory Contracts	9 years		$	3,181		$	1,425		$	1,756
Trademarks	10 years			433			174			259
Proprietary Software and Technology	4 years			960			960			-
			$	4,574		$	2,559		$	2,015

Amortization Expense Related to Intangible Assets

The weighted-average amortization period for total amortizable intangibles at December 31, 2017 is 4 years. Estimated amortization expense for each of the five succeeding years and thereafter is as follows (in thousands):

Year ending December 31,
2018	397
2019	397
2020	397
2021	386
2022	41
	$1,618

XML 39 R28.htm IDEA: XBRL DOCUMENT

Incentive stock plans and stock-based compensation (Tables)

12 Months Ended

Dec. 31, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Fair Value Assumptions

Dividend yield	0	%

Expected volatility	48.24	%

Risk-free interest rate	1.21	%

Expected life (in years)	4

XML 40 R29.htm IDEA: XBRL DOCUMENT

Segment Information (Tables)

12 Months Ended

Dec. 31, 2017

Segment Reporting [Abstract]

Schedule of Segment Information

Following is a reconciliation of adjusted EBITDA of the operating segment to loss from operations before income taxes (in thousands):

	Year ended December 31,
	2017			2016
Adjusted EBITDA of operating segment	$	954		$	785

Other operating expenses:
Corporate (1)		(1,555	)		(1,498	)
Depreciation and amortization		(433	)		(643	)
Equity based compensation		(218	)		(229	)
Software implementation costs		(38	)		-
Relocation and severance costs		-			(99	)

Operating loss		(1,290	)		(1,684	)

Non- operating income (expense):
Interest expense and other, net		(96	)		(100	)
Share of loss from Investment in LLC		-			(294	)

Loss from operations before income taxes	$	(1,386	)	$	(2,078	)


Following is a summary of the Company's total assets (in thousands):
	December 31,
		2017			2016
Operating segment	$	6,160		$	6,224
Corporate (2)		6,286			7,431
	$	12,446		$	13,655

(1) Consists principally of compensation related expenses, facility costs and professional fees

(2) Consists principally of cash and cash equivalents

XML 41 R30.htm IDEA: XBRL DOCUMENT

Summary of significant accounting policies (Details) - Office Furniture and Equipment [Member]	12 Months Ended
	Dec. 31, 2017
Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	7 years

XML 42 R31.htm IDEA: XBRL DOCUMENT

Summary of significant accounting policies (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Reclassification of Other operating expenses to Compensation and benefits		$ 56
Cash equivalents	$ 5,209	$ 6,301
Weighted average number of common shares outstanding	19,216,000	19,085,000
Employee Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive options outstanding	550,000	3,350,000
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive options outstanding	66,000	132,000
Weighted average number of common shares outstanding	135,000	65,000

XML 43 R32.htm IDEA: XBRL DOCUMENT

Investment in LLC (Details) - USD ($)	1 Months Ended	12 Months Ended
Investment in LLC (Details) - USD ($)	Apr. 28, 2015	Dec. 31, 2017	Dec. 31, 2016	Jul. 27, 2016	Jul. 20, 2015
Schedule of Equity Method Investments [Line Items]
Change in value of warrant			$ 12,000
EGS [Member]
Schedule of Equity Method Investments [Line Items]
Investment amount	$ 333,333
Units acquired	333,333
Membership Interest	33.33%				25.00%
Warrant distributed from LLC	$ 120,000
Term of warrants			5 years
Noncontrolling interest					$ 333,333
Noncontrolling interest, ownership percentage					25.00%
Warrants owned by noncontrolling interests					166,666
Net loss due to discontinued operation			$ 294,000
Loss on warrants			$ 12,000
Marshall Geller [Member] \| EGS [Member]
Schedule of Equity Method Investments [Line Items]
Investment amount	$ 333,333
Units acquired	333,333
Membership Interest	33.33%
Merriman Holdings, Inc. [Member]
Schedule of Equity Method Investments [Line Items]
Note Purchase Agreement, aggregate purchase price	$ 1,000,000
Common Stock Purchase Warrant, amount of shares	500,000
Exercise price of warrants	$ 1.00
Term of warrants	5 years
Warrants received	166,666
Merriman Holdings, Inc. [Member] \| Senior Secured Note [Member]
Schedule of Equity Method Investments [Line Items]
Term of note	1 year
Principal amount	$ 1,000,000
Interest rate	12.00%
Merriman Holdings, Inc. [Member] \| EGS [Member]
Schedule of Equity Method Investments [Line Items]
Warrants received	166,666
Merriman Holdings, Inc. [Member] \| Marshall Geller [Member]
Schedule of Equity Method Investments [Line Items]
Term of warrants	5 years
Merriman Capital, Inc. [Member]
Schedule of Equity Method Investments [Line Items]
Noncontrolling interest principal amount payment due				$ 1,333,333
Merriman Capital, Inc. [Member] \| Senior Secured Note [Member]
Schedule of Equity Method Investments [Line Items]
Notes secured, percentage of capital stock	99.998%

XML 44 R33.htm IDEA: XBRL DOCUMENT

Accounts payable and accrued expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Accrued Liabilities and Other Liabilities [Abstract]
Accrued professional fees	$ 207	$ 187
Accrued compensation and related expenses	144	161
Other	378	393
Accounts payable and accrued expenses	$ 729	$ 741

XML 45 R34.htm IDEA: XBRL DOCUMENT

Income taxes (Components of Income Tax Expense (Benefit)) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Current
Federal
State and local	52	54
Total current	52	54
Deferred
Federal	(148)
State and local
Total deferred	(148)
Total income tax (benefit) expense	$ (96)	$ 54

XML 46 R35.htm IDEA: XBRL DOCUMENT

Income taxes (Differences Between Statutory and Reported Amount Tax Rates) (Details)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Federal income tax rate	(34.00%)	(34.00%)
State income tax (net of federal effect)	6.80%	1.70%
Change in valuation allowance	(251.50%)	34.30%
Deferred tax asset write-down	73.20%
Non-deductible expenses	0.60%	0.60%
Impact of tax law change	198.00%
Effective tax rate	(6.90%)	2.60%

XML 47 R36.htm IDEA: XBRL DOCUMENT

Income taxes (Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Deferred tax assets:
Net operating loss carryforwards	$ 6,356	$ 8,809
Equity-based compensation	107	1,275
Tax credit carryforwards	148	148
Accrued compensation	180	305
Accrued liabilities & other	157	105
Gross deferred tax assets	6,948	10,642
Less: valuation allowance	(6,365)	(9,850)
Deferred tax assets after valuation allowance	583	792
Deferred tax liabilities:
Intangible assets	(435)	(784)
Others		(8)
Deferred tax liabilities	(435)	(792)
Net Deferred tax assets	$ 148

XML 48 R37.htm IDEA: XBRL DOCUMENT

Income taxes (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
Income taxes (Narrative) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Income Tax Examination [Line Items]
Corporate tax rate	34.00%	34.00%
Deferred Federal tax benefit	$ 148
Increase in valuation allowance	(3,485)	$ 712
Net deferred tax assets	2,700
Federal [Member]
Income Tax Examination [Line Items]
Operating loss carryforwards	$ 21,200
Federal [Member] \| Minimum [Member]
Income Tax Examination [Line Items]
Corporate tax rate	21.00%
Operating loss carryforwards, expiration date	Jan. 01, 2031
Federal [Member] \| Maximum [Member]
Income Tax Examination [Line Items]
Corporate tax rate	35.00%
Operating loss carryforwards, expiration date	Dec. 31, 2037
Federal [Member] \| Winthrop [Member]
Income Tax Examination [Line Items]
Operating loss carryforwards	$ 1,300
New York State [Member] \| Minimum [Member]
Income Tax Examination [Line Items]
Operating loss carryforwards, expiration date	Jan. 01, 2018
New York State [Member] \| Maximum [Member]
Income Tax Examination [Line Items]
Operating loss carryforwards, expiration date	Dec. 31, 2037
New York State [Member] \| Pre-apportioned [Member]
Income Tax Examination [Line Items]
Operating loss carryforwards	$ 19,600
New York State [Member] \| Post-apportioned [Member]
Income Tax Examination [Line Items]
Operating loss carryforwards	17,600
New York State [Member] \| Winthrop [Member]
Income Tax Examination [Line Items]
Operating loss carryforwards	$ 8,500

XML 49 R38.htm IDEA: XBRL DOCUMENT

Property and equipment (Details) - USD ($) $ in Thousands	12 Months Ended
Property and equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Property and equipment	$ 262	$ 229
Less accumulated depreciation and amortization	(162)	(126)
Property and Equipment, Net, Total	100	103
Depreciation expenses	36	14
Computer Software [Member]
Property, Plant and Equipment [Line Items]
Property and equipment	75	72
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment	140	110
Office Furniture and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment	46	46
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment	$ 1	$ 1

XML 50 R39.htm IDEA: XBRL DOCUMENT

Intangible Assets (Intangible Assets) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	$ 4,574	$ 4,574
Accumulated Amortization	2,956	2,559
Net carrying amount	$ 1,618	$ 2,015
Investment Management and Advisory Contracts [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	9 years	9 years
Gross carrying amount	$ 3,181	$ 3,181
Accumulated Amortization	1,778	1,425
Net carrying amount	$ 1,403	$ 1,756
Trademarks [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	10 years	10 years
Gross carrying amount	$ 433	$ 433
Accumulated Amortization	218	174
Net carrying amount	$ 215	$ 259
Proprietary Software and Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	4 years	4 years
Gross carrying amount	$ 960	$ 960
Accumulated Amortization	960	960
Net carrying amount

XML 51 R40.htm IDEA: XBRL DOCUMENT

Intangible Assets (Estimated Amortization Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Intangible Assets, Net (Excluding Goodwill) [Abstract]
2018	$ 397
2019	397
2020	397
2021	386
2022	41
Finite-Lived Intangible Assets, Net, Total	1,618	$ 2,015
Amortization expense related to intangible assets	$ 397	$ 629
Weighted average useful life of intangible assets	4 years

XML 52 R41.htm IDEA: XBRL DOCUMENT

Capital Stock (Details) - USD ($) $ in Thousands	12 Months Ended	133 Months Ended
Capital Stock (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2017
Stockholders' Equity Note [Abstract]
Number of shares authorized to be repurchased		5,000,000
Number of shares repurchased	250,000	2,041,971
Value of shares repurchased during period	$ 340
Remaining number of shares available for repurchase		2,958,029

XML 53 R42.htm IDEA: XBRL DOCUMENT

Incentive stock plans and stock-based compensation (Common Stock Options) (Details) - USD ($)	1 Months Ended		9 Months Ended	12 Months Ended
	Mar. 31, 2016	Mar. 28, 2016	Sep. 30, 2016	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted - Stock Options	25,000	100,000
Share-based compensation				$ 300	$ 9,000
Term for options granted to a 10% or greater holder of total voting stock				3 years
Sharebased Compensation Arrangement By Sharebased Payment Award Exercise Price Of Options Granted Percentage Of Fair Market Value				110.00%
Exercise price	$ 1.34	$ 1.29		$ 2.46
Vesting period	3 years	3 years
Number of options cancelled			25,000
Weighted average fair value of stock options granted	$ 0.52	$ 0.50
Outstanding options, weighted average contractual term				1 year
Dividend yield				0.00%
Expected volatility				48.24%
Risk-free interest rate				1.21%
Expected life				4 years
Net revised value after amortized				$ 400
Options expired				2,800,000
Option, Discount				8.00%
2003 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for issuance				3,500,000
Number of shares reserved and available for award				3,500,000
2007 NPDC Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for issuance				7,500,000
Number of shares reserved and available for award				6,141,786
Outstanding options, weighted average contractual term				1 year	3 years
Options outstanding				550,000	3,350,000
Options vested and exerisable				483,333	3,250,000
Outstanding options, weighted average exercise price				$ 1.35	$ 2.27
Outstanding options, aggregate intrinsic value				$ 0	$ 0
Restatement Adjustment [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value of stock options granted				$ 0.08

XML 54 R43.htm IDEA: XBRL DOCUMENT

Incentive stock plans and stock-based compensation (Restricted Stock) (Details) - USD ($) $ / shares in Units, $ in Thousands		1 Months Ended				12 Months Ended		133 Months Ended
	Feb. 04, 2013	Mar. 31, 2016	Mar. 28, 2016	Mar. 31, 2015	Jan. 19, 2015	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock price				$ 1.85	$ 1.70
Vesting period for plan		3 years	3 years
Shares repurchased during period							$ 340
Shares repurchased during period, shares							250,000	2,041,971
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSU's vested						133,332	66,666	133,332
Restricted Stock Units (RSUs) [Member] \| Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs, Granted	17,738
Post-vesting restrictions, term	3 years
Vesting period for plan	3 years
RSUs value per share	$ 2.40
RSU, discount rate	11.00%
RSUs Value per share, less discount for post vesting restrictions on sale	$ 2.25
Restricted Stock Units (RSUs) [Member] \| Employee [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs outstanding						11,701		11,701
Compensation						$ 0	$ 1
Restricted Stock Units (RSUs) [Member] \| Two Newly Appointed Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs, Granted				100,000	100,000
Vesting period for plan				3 years	3 years
RSU, discount rate				8.00%	8.00%
RSUs Value per share, less discount for post vesting restrictions on sale				$ 1.70	$ 1.56
Compensation						110	$ 110
Unrecognized compensation cost						$ 16		$ 16
Unrecognized compensation recognition period						2 months

XML 55 R44.htm IDEA: XBRL DOCUMENT

Retirement plans (Details) - USD ($) $ in Thousands	12 Months Ended
Retirement plans (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Interest expense	$ 87	$ 78
Pension Plans, Defined Benefit [Member]
Defined Benefit Plan Disclosure [Line Items]
Employer match of eligible compensation of employees	10.00%
Total obligation	$ 657	770
Annual liability payable to individual retired employees	50
Liability recorded at date of acquisition	$ 885
Present value discount factor	14.00%
Amount to be amortized, as interest expense	$ 1,027
Interest expense	87	78
Discounts	367	454
Income from elimination of retirement liability		$ 23
Undiscounted obligation	$ 1,024
Pension Plans, Defined Benefit [Member] \| Subsequent Event [Member]
Defined Benefit Plan Disclosure [Line Items]
Undiscounted obligation			$ 190

XML 56 R45.htm IDEA: XBRL DOCUMENT

Commitments, Contingencies and Other (Details) $ in Thousands	1 Months Ended	12 Months Ended
	Aug. 31, 2014 ft²	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Lease, square footage \| ft²	10,000
Future minimum payments 2018		$ 255
Future minimum payments 2019		196
Future minimum payments, Total		451
Rent expense		248	$ 240
Deferred rent		$ 44	$ 58

XML 57 R46.htm IDEA: XBRL DOCUMENT

Related party transactions (Details) - USD ($)	12 Months Ended
Related party transactions (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Subsidiaries [Member]
Related Party Transaction [Line Items]
Investment management and distribution fees	$ 403,000	$ 778,000

XML 58 R47.htm IDEA: XBRL DOCUMENT

Segment Information (Details)

12 Months Ended

Dec. 31, 2017

USD ($)

Dec. 31, 2016

USD ($)

Segment Reporting Information [Line Items]

Number of operating segments

Other operating expenses:

Depreciation and amortization

$ (433,000)

$ (643,000)

Equity based compensation

(300)

(9,000)

Operating loss

(1,290,000)

(1,684,000)

Non-operating income (expense):

Interest expense and other, net

(87,000)

(78,000)

Share of loss from Investment in LLC

(294,000)

Loss from operations before income taxes

(1,386,000)

(2,078,000)

Total assets

12,446,000

13,655,000

Operating Segment [Member]

Segment Reporting Information [Line Items]

Adjusted EBITDA of operating segment

954,000

785,000

Other operating expenses:

Corporate

^[1]

(1,555,000)

(1,498,000)

Depreciation and amortization

(433,000)

(643,000)

Equity based compensation

(218,000)

(229,000)

Software implementation costs

(38,000)

Relocation and severance costs

(99,000)

Operating loss

(1,290,000)

(1,684,000)

Non-operating income (expense):

Interest expense and other, net

(96,000)

(100,000)

Share of loss from Investment in LLC

(294,000)

Loss from operations before income taxes

(1,396,000)

(2,078,000)

Total assets

6,160,000

6,224,000

Corporate [Member]

Non-operating income (expense):

Total assets

^[2]

$ 6,286,000

$ 7,431,000

[1]	Consists principally of compensation related expenses, facility costs and professional fees
[2]	Consists principally of cash and cash equivalents

EXCEL 59 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx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end XML 60 Show.js IDEA: XBRL DOCUMENT /** * Rivet Software Inc. * * @copyright Copyright (c) 2006-2011 Rivet Software, Inc. All rights reserved. * Version 2.4.0.3 * */ var Show = {}; Show.LastAR = null, Show.hideAR = function(){ Show.LastAR.style.display = 'none'; }; Show.showAR = function ( link, id, win ){ if( Show.LastAR ){ Show.hideAR(); } var ref = link; do { ref = ref.nextSibling; } while (ref && ref.nodeName != 'TABLE'); if (!ref || ref.nodeName != 'TABLE') { var tmp = win ? win.document.getElementById(id) : document.getElementById(id); if( tmp ){ ref = tmp.cloneNode(true); ref.id = ''; link.parentNode.appendChild(ref); } } if( ref ){ ref.style.display = 'block'; Show.LastAR = ref; } }; Show.toggleNext = function( link ){ var ref = link; do{ ref = ref.nextSibling; }while( ref.nodeName != 'DIV' ); if( ref.style && ref.style.display && ref.style.display == 'none' ){ ref.style.display = 'block'; if( link.textContent ){ link.textContent = link.textContent.replace( '+', '-' ); }else{ link.innerText = link.innerText.replace( '+', '-' ); } }else{ ref.style.display = 'none'; if( link.textContent ){ link.textContent = link.textContent.replace( '-', '+' ); }else{ link.innerText = link.innerText.replace( '-', '+' ); } } }; XML 61 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 63 FilingSummary.xml IDEA: XBRL DOCUMENT 3.8.0.1 html 113 255 1 true 37 0 false 5 false false R1.htm 00000001 - Document - Document and Entity Information Sheet http://0001279715.com/role/wish-daei1 Document and Entity Information Cover 1 false false R2.htm 00000002 - Statement - CONSOLIDATED STATEMENTS OF OPERATIONS Sheet http://0001279715.com/role/Statement-CONSOLIDATEDSTATEMENTSOFOPERATIONS CONSOLIDATED STATEMENTS OF OPERATIONS Statements 2 false false R3.htm 00000003 - Statement - CONSOLIDATED BALANCE SHEETS Sheet http://0001279715.com/role/Statement-CONSOLIDATEDBALANCESHEETS CONSOLIDATED BALANCE SHEETS Statements 3 false false R4.htm 00000004 - Statement - CONSOLIDATED BALANCE SHEETS (Parenthetical) Sheet http://0001279715.com/role/wish-cbsp1 CONSOLIDATED BALANCE SHEETS (Parenthetical) Statements 4 false false R5.htm 00000005 - Statement - CONSOLIDATED STATEMENTS OF CASH FLOWS Sheet http://0001279715.com/role/Statement-CONSOLIDATEDSTATEMENTSOFCASHFLOWS CONSOLIDATED STATEMENTS OF CASH FLOWS Statements 5 false false R6.htm 00000006 - Statement - CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) Sheet http://0001279715.com/role/ConsolidatedStatementsOfCashFlowsParenthetical CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) Statements 6 false false R7.htm 00000007 - Statement - CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY Sheet http://0001279715.com/role/wish-csocise1 CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY Statements 7 false false R8.htm 00000008 - Disclosure - Description of activities Sheet http://0001279715.com/role/wish-doa1 Description of activities Notes 8 false false R9.htm 00000009 - Disclosure - Summary of significant accounting policies Sheet http://0001279715.com/role/wish-sosap1 Summary of significant accounting policies Notes 9 false false R10.htm 00000010 - Disclosure - Certain new accounting guidance Sheet http://0001279715.com/role/wish-do1 Certain new accounting guidance Notes 10 false false R11.htm 00000013 - Disclosure - Investment in LLC Sheet http://0001279715.com/role/InvestmentInLlc Investment in LLC Notes 11 false false R12.htm 00000014 - Disclosure - Accounts receivable Sheet http://0001279715.com/role/wish-ar1 Accounts receivable Notes 12 false false R13.htm 00000015 - Disclosure - Accounts payable and accrued expenses Sheet http://0001279715.com/role/wish-apaae1 Accounts payable and accrued expenses Notes 13 false false R14.htm 00000016 - Disclosure - Income taxes Sheet http://0001279715.com/role/wish-it1 Income taxes Notes 14 false false R15.htm 00000017 - Disclosure - Property and equipment Sheet http://0001279715.com/role/wish-pae1 Property and equipment Notes 15 false false R16.htm 00000018 - Disclosure - Intangible Assets Sheet http://0001279715.com/role/wish-ia1 Intangible Assets Notes 16 false false R17.htm 00000019 - Disclosure - Capital Stock Sheet http://0001279715.com/role/wish-cs1 Capital Stock Notes 17 false false R18.htm 00000020 - Disclosure - Incentive stock plans and stock-based compensation Sheet http://0001279715.com/role/wish-ispasbc1 Incentive stock plans and stock-based compensation Notes 18 false false R19.htm 00000021 - Disclosure - Retirement plans Sheet http://0001279715.com/role/wish-rp1 Retirement plans Notes 19 false false R20.htm 00000022 - Disclosure - Commitments, Contingencies and Other Sheet http://0001279715.com/role/wish-ccao1 Commitments, Contingencies and Other Notes 20 false false R21.htm 00000023 - Disclosure - Related party transactions Sheet http://0001279715.com/role/wish-rpt Related party transactions Notes 21 false false R22.htm 00000024 - Disclosure - Segment Information Sheet http://0001279715.com/role/SegmentInformation Segment Information Notes 22 false false R23.htm 00000025 - Disclosure - Summary of Significant Accounting Policies (Policies) Sheet http://0001279715.com/role/wish-sosapp1 Summary of Significant Accounting Policies (Policies) Policies 23 false false R24.htm 00000027 - Disclosure - Accounts payable and accrued expenses (Tables) Sheet http://0001279715.com/role/wish-apaaet1 Accounts payable and accrued expenses (Tables) Tables http://0001279715.com/role/wish-apaae1 24 false false R25.htm 00000028 - Disclosure - Income taxes (Tables) Sheet http://0001279715.com/role/wish-itt1 Income taxes (Tables) Tables http://0001279715.com/role/wish-it1 25 false false R26.htm 00000029 - Disclosure - Property and equipment (Tables) Sheet http://0001279715.com/role/wish-paet1 Property and equipment (Tables) Tables http://0001279715.com/role/wish-pae1 26 false false R27.htm 00000030 - Disclosure - Intangible Assets (Tables) Sheet http://0001279715.com/role/wish-iat1 Intangible Assets (Tables) Tables http://0001279715.com/role/wish-ia1 27 false false R28.htm 00000031 - Disclosure - Incentive stock plans and stock-based compensation (Tables) Sheet http://0001279715.com/role/wish-ispasbct Incentive stock plans and stock-based compensation (Tables) Tables http://0001279715.com/role/wish-ispasbc1 28 false false R29.htm 00000032 - Disclosure - Segment Information (Tables) Sheet http://0001279715.com/role/SegmentInformationTables Segment Information (Tables) Tables http://0001279715.com/role/SegmentInformation 29 false false R30.htm 00000033 - Disclosure - Summary of significant accounting policies (Details) Sheet http://0001279715.com/role/wish-sosapd1 Summary of significant accounting policies (Details) Details http://0001279715.com/role/wish-sosap1 30 false false R31.htm 00000034 - Disclosure - Summary of significant accounting policies (Narrative) (Details) Sheet http://0001279715.com/role/SummaryOfSignificantAccountingPoliciesNarrativeDetails Summary of significant accounting policies (Narrative) (Details) Details http://0001279715.com/role/wish-sosap1 31 false false R32.htm 00000035 - Disclosure - Investment in LLC (Details) Sheet http://0001279715.com/role/InvestmentInLlcDetails Investment in LLC (Details) Details http://0001279715.com/role/InvestmentInLlc 32 false false R33.htm 00000036 - Disclosure - Accounts payable and accrued expenses (Details) Sheet http://0001279715.com/role/wish-apaaed1 Accounts payable and accrued expenses (Details) Details http://0001279715.com/role/wish-apaaet1 33 false false R34.htm 00000037 - Disclosure - Income taxes (Components of Income Tax Expense (Benefit)) (Details) Sheet http://0001279715.com/role/wish-itcoitebd1 Income taxes (Components of Income Tax Expense (Benefit)) (Details) Details http://0001279715.com/role/wish-itt1 34 false false R35.htm 00000038 - Disclosure - Income taxes (Differences Between Statutory and Reported Amount Tax Rates) (Details) Sheet http://0001279715.com/role/wish-itdbsaratrd1 Income taxes (Differences Between Statutory and Reported Amount Tax Rates) (Details) Details http://0001279715.com/role/wish-itt1 35 false false R36.htm 00000039 - Disclosure - Income taxes (Deferred Tax Assets and Liabilities) (Details) Sheet http://0001279715.com/role/wish-itdtaald1 Income taxes (Deferred Tax Assets and Liabilities) (Details) Details http://0001279715.com/role/wish-itt1 36 false false R37.htm 00000040 - Disclosure - Income taxes (Narrative) (Details) Sheet http://0001279715.com/role/wish-itnd1 Income taxes (Narrative) (Details) Details http://0001279715.com/role/wish-itt1 37 false false R38.htm 00000041 - Disclosure - Property and equipment (Details) Sheet http://0001279715.com/role/wish-paed1 Property and equipment (Details) Details http://0001279715.com/role/wish-paet1 38 false false R39.htm 00000042 - Disclosure - Intangible Assets (Intangible Assets) (Details) Sheet http://0001279715.com/role/wish-iaiad1 Intangible Assets (Intangible Assets) (Details) Details http://0001279715.com/role/wish-iat1 39 false false R40.htm 00000043 - Disclosure - Intangible Assets (Estimated Amortization Expense) (Details) Sheet http://0001279715.com/role/wish-iaeaed1 Intangible Assets (Estimated Amortization Expense) (Details) Details http://0001279715.com/role/wish-iat1 40 false false R41.htm 00000044 - Disclosure - Capital Stock (Details) Sheet http://0001279715.com/role/CapitalStockDetails Capital Stock (Details) Details http://0001279715.com/role/wish-cs1 41 false false R42.htm 00000045 - Disclosure - Incentive stock plans and stock-based compensation (Common Stock Options) (Details) Sheet http://0001279715.com/role/Disclosure-IncentivestockplansandstockbasedcompensationCommonStockOptionsDetails Incentive stock plans and stock-based compensation (Common Stock Options) (Details) Details http://0001279715.com/role/wish-ispasbct 42 false false R43.htm 00000046 - Disclosure - Incentive stock plans and stock-based compensation (Restricted Stock) (Details) Sheet http://0001279715.com/role/wish-ispasbcrsd Incentive stock plans and stock-based compensation (Restricted Stock) (Details) Details http://0001279715.com/role/wish-ispasbct 43 false false R44.htm 00000047 - Disclosure - Retirement plans (Details) Sheet http://0001279715.com/role/wish-rpd1 Retirement plans (Details) Details http://0001279715.com/role/wish-rp1 44 false false R45.htm 00000048 - Disclosure - Commitments, Contingencies and Other (Details) Sheet http://0001279715.com/role/wish-ccaod1 Commitments, Contingencies and Other (Details) Details http://0001279715.com/role/wish-ccao1 45 false false R46.htm 00000049 - Disclosure - Related party transactions (Details) Sheet http://0001279715.com/role/wish-rptd Related party transactions (Details) Details http://0001279715.com/role/wish-rpt 46 false false R47.htm 00000050 - Disclosure - Segment Information (Details) Sheet http://0001279715.com/role/SegmentInformationDetails Segment Information (Details) Details http://0001279715.com/role/SegmentInformationTables 47 false false All Reports Book All Reports wish-20171231.xml wish-20171231.xsd wish-20171231_cal.xml wish-20171231_def.xml wish-20171231_lab.xml wish-20171231_pre.xml http://fasb.org/us-gaap/2017-01-31 http://xbrl.sec.gov/dei/2014-01-31 true true ZIP 65 0001214659-18-002347-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001214659-18-002347-xbrl.zip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�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