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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
OPERATING ACTIVITIES    
Net Loss $ (4,767) $ (2,412)
Adjustments to reconcile net loss to net cash used in operating activities:    
Equity in net loss of unconsolidated ventures 144 0
Stock-Based Compensation and Option Amortization 249 198
Gain on Disposal of Assets (248) 42
Amortization of Deferred Financing Costs 279 416
Depreciation and Amortization Expense 1,042 631
Accretion of Mortgage Income 0 (138)
Accretion of Discount on Notes Payable 169 145
Increase (decrease) in cash resulting from changes in:    
Accrued Interest Receivable (11) (394)
Other Receivables (33) (595)
Other Assets 2 784
Accrued Property Taxes 41 (497)
Accounts Payable and Accrued Expenses (184) (103)
Customer Deposits and Funds Held For Others 1,028 1,589
Accrued Interest Payable 97 (503)
Decrease in Restricted Cash 761 0
Total adjustments, net 3,336 1,575
Net cash used in operating activities (1,431) (837)
INVESTING ACTIVITIES    
Proceeds from Sale/Recovery of Real Estate Owned 1,634 481
Proceeds from Mortgage Payoffs 7,632 0
Proceeds from Sale of Mortgage Loans 0 13,674
Purchases of Property and Equipment 0 (27)
Investment in Unconsolidated Entities (99) 0
Investment in Real Estate Owned (5,369) (5,266)
Decrease in Restricted Cash 316 0
Net cash provided by investing activities 4,114 8,862
FINANCING ACTIVITIES    
Proceeds from Notes Payable 1,645 78,750
Debt Issuance Costs Paid (296) (2,706)
Increase in Restricted Cash 0 (9,764)
Repayments of Notes Payable (5,400) (61,532)
Repayments of Capital Leases (6) (6)
Dividends Paid (539) (528)
Net cash provided by (used in) financing activities (4,596) 4,214
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (1,913) 12,239
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 7,603 1,915
CASH AND CASH EQUIVALENTS, END OF PERIOD 5,690 14,154
SUPPLEMENTAL CASH FLOW INFORMATION:    
Interest paid 890 2,816
Capital Expenditures in Accounts Payable and Accrued Expenses $ 4,065 $ 0