5. OTHER INVESTMENTS

3 Months Ended

Mar. 31, 2012

Investments and Other Noncurrent Assets [Text Block]

5. OTHER INVESTMENTS

As of March 31, 2012, the Company’s portfolio of other investments had an aggregate carrying value of approximately $3.7 million. As of March 31, 2012, the Company has committed to fund approximately $966,000 as required by agreements with the investees. The carrying value of these investments is equal to contributions less distributions and loss valuation adjustments. During the three months ended March 31, 2012, the Company contributed an additional $23,000 toward fulfilling capital commitments on existing investments, plus a new investment in a medical technology related company for $51,000 which was fully funded in January 2012. Cash distributions received from other investments for the three months ended March 31, 2012 totaled approximately $107,000 from one investment in a privately owned partnership owning diversified operating companies.

Net income from other investments for the three months ended March 31, 2012 and 2011, is summarized below:

		2012		2011
Partnership owning diversified businesses	$	31,000	$	—
Venture capital fund – technology		—		—
Income from investment in 49% owned affiliate (T.G.I.F. Texas, Inc.)		17,000		9,000
Total net income from other investments	$	48,000	$	9,000

The following tables present gross unrealized losses and fair values for those investments that were in an unrealized loss position as of March 31, 2012 and December 31, 2011, aggregated by investment category and the length of time that investments have been in a continuous loss position

	As of March 31, 2012
	Less than 12 Months				Greater than 12 Months					Total
Investment Description	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss			Fair Value		Unrealized Loss
Partnerships owning investments in technology related industries	$	—	$	—	$	379,000	$	(54,000	)	$	379,000	$	(54,000	)
Partnerships owning diversified businesses		—		—		231,000		(58,000	)		231,000		(58,000	)
Partnerships owning real estate and related investments		—		—		257,000		(35,000	)		257,000		(35,000	)
Total	$	—	$	—	$	867,000	$	(147,000	)	$	867,000	$	(147,000	)

	As of December 31, 2011
	Less than 12 Months					Greater than 12 Months					Total
Investment Description	Fair Value		Unrealized Loss			Fair Value		Unrealized Loss			Fair Value		Unrealized Loss
Partnerships owning investments in technology related industries	$	327,000	$	(20,000	)	$	47,000	$	(39,000	)	$	374,000	$	(59,000	)
Partnerships owning diversified businesses		—		—			228,000		(61,000	)		228,000		(61,000	)
Partnerships owning real estate and related investments		—		—			256,000		(56,000	)		256,000		(56,000	)
Total	$	327,000	$	(20,000	)	$	531,000	$	(156,000	)	$	858,000	$	(176,000	)

When evaluating the investments for other-than-temporary impairment, the Company reviews factors such as the length of time and extent to which fair value has been below cost basis, the financial condition of the issuer and any changes thereto, and the Company’s intent to sell, or whether it is more likely than not it will be required to sell, the investment before recovery of the investment’s amortized cost basis.

In accordance with ASC Topic 320-10-65, Recognition and Presentation of Other-Than-Temporary Impairments as of March 31, 2012 the Company recorded a loss of approximately $28,000 from an investment in a partnership which operates and leases executive suites in Miami, Florida. The Company has funded $120,000 to date in this investment and the losses incurred were associated with the initial start up of the venture in 2010.There were no OTTI impairment valuation adjustments for the three months ended March 31, 2011.