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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Revenue:        
Operating property revenue $ 2,085 $ 0 $ 5,753 $ 1,682
Mortgage loan income 709 350 1,976 402
Management fees, investment and other income 32 300 323 808
Total revenue 2,826 650 8,052 2,892
Operating Expenses:        
Operating property direct expenses (exclusive of interest and depreciation) 2,364 105 6,699 1,544
Expenses for non-operating real estate owned 151 153 519 485
Professional fees 1,125 1,059 2,754 3,181
General and administrative expenses 1,788 1,793 5,376 6,154
Interest Expense 775 449 2,300 2,400
Interest expense       1,323
Depreciation and amortization expense 281 46 925 139
Total operating expenses 6,484 3,605 18,573 12,826
Recovery of Investment and Credit Losses, Gain on Disposal, and Equity Method Loss from Unconsolidated Entities, Net        
Gain on disposal of assets, net (3,543) (321) (3,938) (2,036)
Recovery of investment and credit losses, net 0 (6,070) (175) (6,408)
Impairment of Real Estate Owned 0 344 0 344
Equity method loss from unconsolidated entities 0 68 0 239
Total Recovery of Investment and Credit Losses, Gain on Disposal, and Equity Method Loss from Unconsolidated Entities, Net (3,543) (5,979) (4,113) (7,861)
Total costs and expenses 2,941 (2,374) 14,460 4,965
Loss from continuing operations, before provision for income taxes (115) 3,024 (6,408) (2,073)
Loss from Continuing Operations, Net of Tax (115) 3,024 (6,408) (2,073)
Income (Loss) from Discontinued Operations, Net of Tax 0 30 0 4,766
Net Income (Loss) (115) 3,054 (6,408) 2,693
Loss attributable to noncontrolling interest (1,105) 1,224 (990) 490
Cash dividend on redeemable convertible preferred stock (655) (539) (1,894) (1,600)
Deemed dividend on redeemable convertible preferred stock (920) (685) (2,651) (2,016)
Cash dividend on perpetual preferred stock (422) 0 (569) 0
Net Income (Loss) Attributable to Common Shareholders $ (3,217) $ 3,054 $ (12,512) $ (433)
Earnings (Loss) per Common Share        
Basic, Continuing Operations (in dollars per share) $ (0.19) $ 0.19 $ (0.75) $ (0.32)
Basic, Discontinued Operations (in dollars per share) 0.00 0.00 0.00 0.29
Basic (in dollars per share) $ (0.19) $ 0.19 $ (0.75) $ (0.03)
Weighted Average Common Shares Outstanding - Basic 16,726,610 16,253,427 16,696,201 16,166,285
Diluted. Continuing Operations (in dollars per share) $ (0.19) $ 0.12 $ (0.75) $ (0.32)
Diluted, Discontinued Operations (in dollars per share) 0.00 0.00 0.00 0.29
Diluted (in dollars per share) $ (0.19) $ 0.12 $ (0.75) $ (0.03)
Diluted Weighted Average Common Shares Outstanding 16,726,610 25,091,821 16,696,201 16,166,285