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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
OPERATING ACTIVITIES    
Net Income (Loss) $ 2,693,000 $ (14,222,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Equity Method Loss from Unconsolidated Entities 239,000 238,000
Stock-Based Compensation and Option Amortization 591,000 614,000
Stock-Based Compensation Related to Purchase of Treasury Stock 116,000 0
Gain on Disposal of Assets (8,873,000) (20,000)
Amortization of Deferred Financing Costs 447,000 1,162,000
Depreciation and Amortization Expense 417,000 3,152,000
Accretion of Mortgage Income (129,000) 0
Accretion of Discount on Notes Payable 610,000 530,000
Other Non-Cash Recovery of Investment and Credit Losses (6,298,000) 0
Impairment of Real Estate Owned 344,000 0
Changes in operating assets and liabilities:    
Accrued Interest Receivable (95,000) (3,000)
Other Receivables (1,280,000) (142,000)
Other Assets (2,235,000) 63,000
Accrued Property Taxes (110,000) 66,000
Accounts Payable and Accrued Expenses (1,686,000) 626,000
Customer Deposits and Funds Held for Others 1,239,000 968,000
Accrued Interest Payable (268,000) 213,000
Funds Held by Lender and Restricted Cash 1,443,000 1,099,000
Total adjustments, net (15,528,000) 8,566,000
Net cash used in operating activities (12,835,000) (5,656,000)
INVESTING ACTIVITIES    
Proceeds from Sales of Mortgage Loans 0 3,044,000
Proceeds from Sale of Real Estate Owned and Operating Properties 98,321,000 3,436,000
Purchases of Property and Equipment (388,000) (19,000)
Mortgage Loan Fundings and Protective Advances (7,000,000) 0
Proceeds from Mortgage Note Receivable 0 7,632,000
Investment in Unconsolidated Entities (1,810,000) (135,000)
Investment in Real Estate Owned and Other Operating Properties (1,383,000) (10,660,000)
Funds Held by Lender and Restricted Cash 489,000 116,000
Net cash provided by investing activities 88,229,000 3,414,000
FINANCING ACTIVITIES    
Proceeds from Notes Payable 0 9,212,000
Debt Issuance Costs Paid 0 (884,000)
Repayments of Notes Payable (50,370,000) (5,616,000)
Repayments of Capital Leases (2,000) (15,000)
Dividends Paid (1,600,000) (1,606,000)
Purchase of Treasury Stock (338,000) 0
Distributions to Noncontrolling Interests (9,000) 0
Net cash provided by (used in) financing activities (52,319,000) 1,091,000
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 23,075,000 (1,151,000)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 11,449,000 7,603,000
CASH AND CASH EQUIVALENTS, END OF PERIOD 34,524,000 6,452,000
CASH AND CASH EQUIVALENTS OF DISCONTINUED OPERATIONS, END OF PERIOD 435,000 1,063,000
CASH AND CASH EQUIVALENTS OF CONTINUING OPERATIONS, END OF PERIOD 34,089,000 5,389,000
SUPPLEMENTAL CASH FLOW INFORMATION    
Cash paid for interest 1,603,000 3,072,000
Cash paid for taxes 5,000 0
Non-Cash Investing and Financing Transactions:    
Decrease in Investment in Unconsolidated Entities due to Consolidation of VIE’s (Note 5) (4,000,000) 0
Decrease in Mortgage Loans due to Consolidation of VIE’s (Note 5) (400,000) 0
Decrease in Other Receivables due to Consolidation of VIE’s (Note 5) (2,400,000) 0
Increase in Other Real Estate Owned due to Consolidation of VIE’s (Note 5) 17,800,000 0
Increase in Other Assets due to Consolidation of VIE’s (Note 5) 1,100,000 0
Increase in Accounts Payable and Accrued Expenses due to Consolidation of VIE’s (Note 5) 200,000 0
Increase in Noncontrolling Interest due to VIE Consolidation (Note 5) 6,509,000 0
Capital Expenditures in Accounts Payable and Accrued Expenses 438,000 549,000
Capital Lease and Other Liabilities Assumed by Buyer in Sale of Property 4,292,000 0
Decrease in Noncontrolling Interest due to Profit Participation $ (1,537,000) $ 0