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0207 - Disclosure - New Valley LLC
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Investment in Real Estate Business.
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<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" -->
<!-- Begin Block Tagged Note 7 - vgr:InvestmentInRealEstateBusinessTextBlock-->
<div style="font-family: Helvetica,Arial,sans-serif">
<div style="margin-top: 6pt">
<table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; text-align: left">
<tr valign="top" style="font-size: 10pt; color: #000000; background: transparent">
<td width="3%" nowrap="nowrap" align="left"><b>7.</b></td>
<td width="1%"> </td>
<td><u><b>NEW VALLEY LLC</b></u></td>
</tr>
</table>
</div>
<div style="margin-top: 6pt">
<table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; text-align: left">
<tr valign="top" style="font-size: 10pt; color: #000000; background: transparent">
<td width="3%" nowrap="nowrap" align="left"> </td>
<td width="1%"> </td>
<td>The components of “Investments in non-consolidated real estate businesses” were as follows:</td>
</tr>
</table>
</div>
<div align="center">
<table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="76%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
</tr>
<tr style="font-size: 8pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">June 30, 2010</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">December 31, 2009</td>
<td> </td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Douglas Elliman Realty, LLC
</div></td>
<td> </td>
<td align="left">$</td>
<td align="right">42,680</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">36,086</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Aberdeen Townhomes LLC
</div></td>
<td> </td>
<td> </td>
<td align="right">277</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">1,248</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">New Valley Oaktree Chelsea Eleven LLC
</div></td>
<td> </td>
<td> </td>
<td align="right">13,154</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">12,232</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
</tr>
<tr valign="bottom"><!-- Blank Space -->
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Investments in non-consolidated real
estate businesses
</div></td>
<td> </td>
<td align="left">$</td>
<td align="right">56,111</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">49,566</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
</tr>
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</table>
</div>
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</div>
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<div style="font-family: Helvetica,Arial,sans-serif">
<div align="center" style="font-size: 10pt; margin-top: 0pt">
<b>
<u>
</u>
</b>
</div>
<div style="margin-top: 6pt">
<table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; text-align: left">
<tr valign="top" style="font-size: 10pt; color: #000000; background: transparent">
<td width="3%" nowrap="nowrap" align="left"> </td>
<td width="1%"> </td>
<td><i>Residential Brokerage Business. </i>New Valley recorded income of $7,207 and $1,810 for the three
months ended June 30, 2010 and 2009, respectively, and income of $11,778 and $615 for the six
months ended June 30, 2010 and 2009, respectively, associated with Douglas Elliman Realty, LLC.
New Valley received cash distributions from Douglas Elliman Realty, LLC of $3,224 and $2,049
for the three months ended June 30, 2010 and 2009, respectively, and $5,185 and $3,476 for the
six months ended June 30, 2010 and 2009, respectively.</td>
</tr>
<tr>
<td style="font-size: 6pt"> </td>
</tr>
<tr valign="top" style="font-size: 10pt; color: #000000; background: transparent">
<td width="3%" nowrap="nowrap" align="left"> </td>
<td width="1%"> </td>
<td>The summarized financial information of Douglas Elliman Realty, LLC is as follows:</td>
</tr>
</table>
</div>
<div align="center">
<table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="76%"> </td>
<td width="5%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="5%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
</tr>
<tr style="font-size: 8pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="3" style="border-bottom: 1px solid #000000">June 30, 2010</td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="3" style="border-bottom: 1px solid #000000">December 31, 2009</td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Cash
</div></td>
<td> </td>
<td align="right">$</td>
<td align="right">41,247</td>
<td> </td>
<td> </td>
<td align="right">$</td>
<td align="right">26,920</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Other current assets
</div></td>
<td> </td>
<td> </td>
<td align="right">7,769</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">6,664</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Property, plant and equipment, net
</div></td>
<td> </td>
<td> </td>
<td align="right">13,699</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">13,498</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Trademarks
</div></td>
<td> </td>
<td> </td>
<td align="right">21,663</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">21,663</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Goodwill
</div></td>
<td> </td>
<td> </td>
<td align="right">38,361</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">38,601</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Other intangible assets, net
</div></td>
<td> </td>
<td> </td>
<td align="right">1,477</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">742</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Other non-current assets
</div></td>
<td> </td>
<td> </td>
<td align="right">2,848</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">2,871</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Notes payable — current
</div></td>
<td> </td>
<td> </td>
<td align="right">524</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">776</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Current portion of notes payable to member -
Prudential Real Estate Financial Services
of America, Inc.
</div></td>
<td> </td>
<td> </td>
<td align="right">—</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">2,487</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Current portion of notes payable
to member — New Valley
</div></td>
<td> </td>
<td> </td>
<td align="right">—</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">2,487</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Other current liabilities
</div></td>
<td> </td>
<td> </td>
<td align="right">24,046</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">20,724</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Notes payable — long term
</div></td>
<td> </td>
<td> </td>
<td align="right">1,067</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">2,136</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Other long-term liabilities
</div></td>
<td> </td>
<td> </td>
<td align="right">10,422</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">7,747</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Members’ equity
</div></td>
<td> </td>
<td> </td>
<td align="right">91,005</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">74,602</td>
<td> </td>
</tr>
<!-- End Table Body -->
</table>
</div>
<div align="center">
<table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="52%"> </td>
<td width="5%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="5%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="5%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="5%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
</tr>
<tr style="font-size: 8pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="7">Three Months Ended</td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="7">Six Months Ended</td>
</tr>
<tr style="font-size: 8pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="7" style="border-bottom: 0px solid #000000">June 30,</td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="7" style="border-bottom: 0px solid #000000">June 30,</td>
</tr>
<tr style="font-size: 8pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="3">2010</td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="3">2009</td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="3">2010</td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="3">2009</td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr style="font-size: 1px">
<td> </td>
<td> </td>
<td colspan="15" align="left" style="border-top: 1px solid #000000"> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Revenues
</div></td>
<td> </td>
<td align="right">$</td>
<td align="right">98,518</td>
<td> </td>
<td> </td>
<td align="right">$</td>
<td align="right">60,373</td>
<td> </td>
<td> </td>
<td align="right">$</td>
<td align="right">175,179</td>
<td> </td>
<td> </td>
<td align="right">$</td>
<td align="right">109,329</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Costs and expenses
</div></td>
<td> </td>
<td> </td>
<td align="right">83,653</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">55,766</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">150,828</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">106,326</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Depreciation expense
</div></td>
<td> </td>
<td> </td>
<td align="right">865</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">1,134</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">1,765</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">2,333</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Amortization expense
</div></td>
<td> </td>
<td> </td>
<td align="right">88</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">64</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">165</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">128</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Other income
</div></td>
<td> </td>
<td> </td>
<td align="right">441</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">—</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">838</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">—</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Interest expense, net
</div></td>
<td> </td>
<td> </td>
<td align="right">167</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">602</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">445</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">1,293</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Income tax expense (benefit)
</div></td>
<td> </td>
<td> </td>
<td align="right">435</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="right"> </td>
<td align="right">(55</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td> </td>
<td align="right">706</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="right"> </td>
<td align="right">(365</td>
<td nowrap="nowrap">)</td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Net income (loss)
</div></td>
<td> </td>
<td align="right">$</td>
<td align="right">13,751</td>
<td> </td>
<td> </td>
<td align="right">$</td>
<td align="right">2,862</td>
<td> </td>
<td> </td>
<td align="right">$</td>
<td align="right">22,108</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="right">$</td>
<td align="right">(386</td>
<td nowrap="nowrap">)</td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
<td> </td>
<td colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
<td> </td>
<td colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
<td> </td>
<td colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
</tr>
<!-- End Table Body -->
</table>
</div>
<div style="margin-top: 6pt">
<table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; text-align: left">
<tr valign="top" style="font-size: 10pt; color: #000000; background: transparent">
<td width="3%" nowrap="nowrap" align="left"> </td>
<td width="1%"> </td>
<td><i>Aberdeen Townhomes LLC. </i>In January 2010, Aberdeen sold one of its four townhomes and
the mortgage of approximately $4,550 was retired. The Company received a preferred return
distribution of approximately $971 in connection with the sale. In addition, Aberdeen
received $375 in August 2010 from escrow on the January 2010 sale. Mortgages on the three
remaining Aberdeen townhomes had a balance of approximately $27,400 as of June 30, 2010.
These mortgages matured during 2009 and are in default. Aberdeen is in discussions with the
lender related to the three remaining mortgages which are in default. There can be no
assurance that an agreement will be reached.</td>
</tr>
<tr>
<td style="font-size: 6pt"> </td>
</tr>
<tr valign="top" style="font-size: 10pt; color: #000000; background: transparent">
<td width="3%" nowrap="nowrap" align="left"> </td>
<td width="1%"> </td>
<td>The Company’s maximum exposure to loss on its investment in Aberdeen is $277 at June 30,
2010.</td>
</tr>
</table>
</div>
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</div>
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<div style="font-family: Helvetica,Arial,sans-serif">
<div align="center" style="font-size: 10pt; margin-top: 0pt">
<b>
<u>
</u>
</b>
</div>
<div style="margin-top: 6pt">
<table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; text-align: left">
<tr valign="top" style="font-size: 10pt; color: #000000; background: transparent">
<td width="3%" nowrap="nowrap" align="left"> </td>
<td width="1%"> </td>
<td><i>New Valley Oaktree Chelsea Eleven, LLC. </i>A subsidiary of New Valley is
operating as an investment vehicle for the Chelsea Eleven LLC real estate
development project. Chelsea sold 16 and 19 condominium units during the three and six months ended June
30, 2010, respectively.</td>
</tr>
<tr>
<td style="font-size: 6pt"> </td>
</tr>
<tr valign="top" style="font-size: 10pt; color: #000000; background: transparent">
<td width="3%" nowrap="nowrap" align="left"> </td>
<td width="1%"> </td>
<td>As of August 4, 2010, 30 of 54 condominium units in the Chelsea
Eleven LLC real estate development had closed. As of June 30, 2010, Chelsea Eleven LLC had approximately $70,261 of total assets and $53,895 of total
liabilities, excluding amounts owed to New Valley Oaktree Chelsea
Eleven LLC (approximately $86,833 at June 30,
2010).</td>
</tr>
<tr>
<td style="font-size: 6pt"> </td>
</tr>
<tr valign="top" style="font-size: 10pt; color: #000000; background: transparent">
<td width="3%" nowrap="nowrap" align="left"> </td>
<td width="1%"> </td>
<td>Chelsea Eleven LLC retired its construction loan during the second quarter of 2010 from the proceeds of
the sales of units. In addition, on July 1, 2010, Chelsea Eleven LLC borrowed $47,100, which is due in
July 1, 2012, bearing interest at 14% per annum. The proceeds were used to retire Chelsea’s
then outstanding mezzanine debt (approximately $37,200) and for other working capital
purposes.</td>
</tr>
<tr>
<td style="font-size: 6pt"> </td>
</tr>
<tr valign="top" style="font-size: 10pt; color: #000000; background: transparent">
<td width="3%" nowrap="nowrap" align="left"> </td>
<td width="1%"> </td>
<td>As of June 30, 2010, the Company had lent an additional $1,141 to New Valley
Oaktree Chelsea Eleven LLC. The Company’s maximum exposure to
loss on its investment in New Valley Oaktree Chelsea Eleven LLC is
$13,154 at June 30, 2010.</td>
</tr>
<tr>
<td style="font-size: 6pt"> </td>
</tr>
<tr valign="top" style="font-size: 10pt; color: #000000; background: transparent">
<td width="3%" nowrap="nowrap" align="left"> </td>
<td width="1%"> </td>
<td><u>Investment in Escena:</u></td>
</tr>
<tr>
<td style="font-size: 6pt"> </td>
</tr>
<tr valign="top" style="font-size: 10pt; color: #000000; background: transparent">
<td width="3%" nowrap="nowrap" align="left"> </td>
<td width="1%"> </td>
<td>The components of the Company’s investment in Escena are as follows:</td>
</tr>
</table>
</div>
<div align="center">
<table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="76%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
</tr>
<tr style="font-size: 8pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">June 30,</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">December 31,</td>
<td> </td>
</tr>
<tr style="font-size: 8pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">2010</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">2009</td>
<td> </td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr style="font-size: 1px">
<td> </td>
<td> </td>
<td colspan="7" align="left" style="border-top: 1px solid #000000"> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Land and land improvements
</div></td>
<td> </td>
<td align="left">$</td>
<td align="right">11,112</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">11,126</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Building and building improvements
</div></td>
<td> </td>
<td> </td>
<td align="right">1,426</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">1,154</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Other
</div></td>
<td> </td>
<td> </td>
<td align="right">1,123</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">1,038</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td> </td>
<td align="right">13,661</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">13,318</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Less accumulated depreciation
</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(218</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(74</td>
<td nowrap="nowrap">)</td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td align="left">$</td>
<td align="right">13,443</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">13,244</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
</tr>
<!-- End Table Body -->
</table>
</div>
<div style="margin-top: 6pt">
<table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; text-align: left">
<tr valign="top" style="font-size: 10pt; color: #000000; background: transparent">
<td width="3%" nowrap="nowrap" align="left"> </td>
<td width="1%"> </td>
<td>The Company recorded an operating loss of $164 for the three months ended June 30, 2010 and
income of approximately $118 for the six months ended June 30, 2010 from Escena.</td>
</tr>
</table>
</div>
<div style="margin-top: 12pt">
</div>
</div>
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