5. OTHER INVESTMENTS

9 Months Ended

Sep. 30, 2012

Investments and Other Noncurrent Assets [Text Block]

5.   OTHER INVESTMENTS

As of September 30, 2012, the Company’s portfolio of other investments had an aggregate carrying value of approximately $3.7 million.  As of September 30, 2012, the Company has committed to fund approximately $812,000 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 nine months ended September 30, 2012, the Company contributed a total of $227,000 in other investments.  These contributions include one new investment in a medical technology related company for $51,000 which was fully funded in January 2012 and follow on contributions totaling $176,000 towards funding commitments in various other existing investments. Cash distributions received from other investments for the nine months ended September 30, 2012 totaled approximately $528,000, including $274,000 from real estate funds, $234,000 from funds investing in diversified businesses and $20,000 from investments in technology related partnerships.

Net income from other investments for the three and nine months ended September 30, 2012 and 2011, is summarized below (excluding other than temporary impairment loss):

	Three months ended September 30,				Nine months ended September 30,
Description	2012		2011		2012		2011
Partnerships owning diversified businesses	$	7,000	$	-	$	38,000	$	25,000
Partnerships owning real estate and related investments		-		-		255,000		-
Partnerships owning technology related businesses				1,000				1,000
Income from investment in 49% owned affiliate (T.G.I.F. Texas, Inc.)		13,000		9,000		44,000		30,000
Total net  income from other investments (excluding other than temporary impairment losses)	$	20,000	$	10,000	$	337,000	$	56,000

The following tables present gross unrealized losses and fair values for those investments that were in an unrealized loss position as of September 30, 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 September 30, 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	$	11,000	$	(13,000	)	$	371,000	$	(67,000	)	$	382,000	$	(80,000	)
Partnerships owning diversified businesses		-		-			213,000		(37,000	)		213,000		(37,000	)
Partnerships owning real estate and related investments		-		-			241,000		(51,000	)		241,000		(51,000	)
Total	$	11,000	$	(13,000	)	$	825,000	$	(155,000	)	$	836,000	$	(168,000	)

	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, the Company recorded a loss of approximately $28,000 from an investment in a partnership which operates and leases executive suites in Miami, Florida during the three and six months ended June 30, 2012. 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. In June 2011 the Company recognized an impairment loss of approximately $84,000 from this same investment. There were no OTTI impairment valuation adjustments for the three months ended September 30, 2012.