XML 45 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income attributable to the Company $ 15,175,987 $ 6,311
Adjustments to reconcile net income attributable to the Company to net cash (used in) provided by operating activities:    
Depreciation expense 16,156 898,985
Non-employee stock compensation 20,498 12,211
Net income from other investments, excluding impairment losses (248,709) (400,750)
Other than temporary impairment loss from other investments 50,000 27,666
Gain from sale of discontinued operations (16,346,243)  
Net gain from investments in marketable securities (144,219) (120,696)
Net gain attributable to non controlling interest 3,713 94,046
Deferred income tax benefit   (66,000)
Provision for bad debts   100,000
Changes in assets and liabilities:    
Other assets and other receivables (205,746) (27,637)
Accounts payable, accrued expenses and other liabilities 156,003 (193,784)
Total adjustments (16,698,547) 324,041
Net cash (used in) provided by operating activities (1,522,560) 330,352
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from sales of discontinued operations 23,030,262  
Purchases and improvements of properties   (353,126)
Proceeds from collections of notes and advances from related parties 696,909  
Proceeds from collections of mortgage loans and notes receivables 75,000  
Distributions from other investments 516,764 661,655
Contributions to other investments (135,750) (244,327)
Net proceeds from sales and redemptions of securities 1,305,944 1,271,707
Increased investments in marketable securities (3,703,313) (1,217,278)
Distribution from affiliate 196,016 196,016
Net cash provided by investing activities 21,981,832 314,647
CASH FLOWS FROM FINANCING ACTIVITIES:    
Dividend paid (4,163,704)  
Repayment of mortgages and notes payables (311,488) (830,775)
Proceeds from stock options exercised 160,715  
Purchase of treasury stock   (243,320)
Net cash used in financing activities (4,314,477) (1,074,095)
Net increase (decrease) in cash and cash equivalents 16,144,795 (429,096)
Cash and cash equivalents at beginning of the year 1,510,773 2,366,363
Cash and cash equivalents at end of the year 17,655,568 1,510,773
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid during the year for interest 88,000 747,000
Cash paid during the year for income taxes      
Non-cash Investing Activities:    
Note receivable received for sales of discontinued operations $ 1,000,000