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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Revenue:        
Operating Property Revenue $ 0 $ 928,000 $ 1,682,000 $ 3,289,000
Management Fees, Investment and Other Income 300,000 73,000 808,000 244,000
Mortgage Loan Income, Net 350,000 19,000 402,000 332,000
Total Revenue 650,000 1,020,000 2,892,000 3,865,000
Operating Expenses:        
Operating Property Direct Expenses (Exclusive of Interest and Depreciation) 105,000 851,000 1,544,000 2,482,000
Expenses for Non-Operating Real Estate Owned 153,000 86,000 485,000 377,000
Professional Fees 1,059,000 1,125,000 3,181,000 3,348,000
General and Administrative Expenses 1,793,000 1,829,000 6,154,000 5,691,000
Interest Expense 449,000 1,241,000 1,323,000 3,505,000
Depreciation and Amortization Expense 46,000 49,000 139,000 709,000
Total Operating Expenses 3,605,000 5,181,000 12,826,000 16,112,000
Recovery of Investment and Credit Losses, (Gain) Loss on Disposal, and Equity Method Loss from Unconsolidated Entities, Net        
(Gain) Loss on Disposal of Assets, Net (321,000) 2,000 (2,036,000) (20,000)
Recovery of Investment and Credit Losses, Net (6,070,000) (129,000) (6,408,000) (249,000)
Impairment of Real Estate Owned 344,000 0 344,000 0
Equity Method Loss from Unconsolidated Entities 68,000 48,000 239,000 238,000
Total Recovery of Investment and Credit Losses, (Gain) Loss on Disposal and Equity Method Loss from Unconsolidated Entities (5,979,000) (79,000) (7,861,000) (31,000)
Total (Income) Costs and Expenses (2,374,000) 5,102,000 4,965,000 16,081,000
Income (Loss) from Continuing Operations, Before Provision for Income Taxes 3,024,000 (4,082,000) (2,073,000) (12,216,000)
Provision for Income Taxes 0 0 0 (2,000)
Income (Loss) from Continuing Operations, Net of Tax 3,024,000 (4,082,000) (2,073,000) (12,218,000)
Income (Loss) from Discontinued Operations, Net of Tax 30,000 (848,000) 4,766,000 (2,004,000)
Net Income (Loss) 3,054,000 (4,930,000) 2,693,000 (14,222,000)
Income Attributable to Noncontrolling Interest Income Allocation 1,224,000 19,000 490,000 92,000
Cash Dividend on Redeemable Convertible Preferred Stock (539,000) (539,000) (1,600,000) (1,606,000)
Deemed Dividend on Redeemable Convertible Preferred Stock (685,000) (632,000) (2,016,000) (1,859,000)
Net Income (Loss) Attributable to Common Shareholders $ 3,054,000 $ (6,082,000) $ (433,000) $ (17,595,000)
Earnings (Loss) per Common Share        
Basic, Continuing Operations (in dollars per share) $ 0.19 $ (0.33) $ (0.32) $ (0.98)
Basic, Discontinued Operations (in dollars per share) 0.00 (0.05) 0.29 (0.13)
Basic (in dollars per share) $ 0.19 $ (0.38) $ (0.03) $ (1.11)
Weighted Average Common Shares Outstanding - Basic 16,253,427 15,922,321 16,166,285 15,914,283
Diluted. Continuing Operations (in dollars per share) $ 0.12 $ (0.33) $ (0.32) $ (0.98)
Diluted, Discontinued Operations (in dollars per share) 0.00 (0.05) 0.29 (0.13)
Diluted (in dollars per share) $ 0.12 $ (0.38) $ (0.03) $ (1.11)
Weighted Average Common Shares Outstanding Assuming Dilution 25,091,821 15,922,321 16,166,285 15,914,283