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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Revenue:        
Operating Property Revenue $ 5,605 $ 6,351 $ 21,683 $ 20,077
Investment and Other Income 36 324 2,190 1,213
Mortgage Loan Income, Net 477 1,321 1,150 2,191
Total Revenue 6,118 7,996 25,023 23,481
Operating Expenses:        
Operating Property Direct Expenses (Exclusive of Interest and Depreciation) 5,755 5,572 17,972 16,815
Expenses for Non-Operating Real Estate Owned 239 481 853 1,627
Professional Fees 1,155 890 3,446 6,251
General and Administrative Expenses 2,226 3,582 6,967 6,739
Interest Expense 2,409 3,454 7,640 13,043
Debt Termination Charge 0 21,658 0 21,658
Depreciation and Amortization Expense 645 797 1,927 2,798
Total Operating Expenses 12,429 36,434 38,805 68,931
Recovery of Credit Losses, Impairment Charges, and Gain on Disposal        
Gain on Disposal of Assets, Net (304) (5,630) (23) (17,630)
Recovery of Credit Losses, Net (1) (172) (10,662) (721)
Impairment of Real Estate Owned 0 0 140 0
Total Recovery of Credit Losses, Impairment Charges, and Gain on Disposal of Assets (305) (5,802) (10,545) (18,351)
Total Costs and Expenses 12,124 30,632 28,260 50,580
Loss before Income Taxes (6,006) (22,636) (3,237) (27,099)
Provision for Income Taxes 0 0 0 0
Net Loss (6,006) (22,636) (3,237) (27,099)
Net Income Attributable to Noncontrolling Interests 0 0 (586) 0
Cash Dividend on Redeemable Convertible Preferred Stock (540) (399) (1,601) (399)
Deemed Dividend on Redeemable Convertible Preferred Stock (583) (400) (1,714) (400)
Net Loss Attributable to Common Shareholders $ (7,129) $ (23,435) $ (7,138) $ (27,898)
Loss per common share        
Basic and Diluted (in dollars per share) $ (0.47) $ (1.53) $ (0.47) $ (1.74)
Basic and Diluted Weighted Average Common Shares Outstanding 15,279,062 15,323,933 15,269,703 16,026,515