Discontinued Operations (Notes)

12 Months Ended

Dec. 31, 2018

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

3.    Discontinued operations

OMHHF historically was engaged in the business of originating and servicing FHA-insured multifamily and healthcare facility loans and securitizing these loans into GNMA mortgage backed securities. OMHHF offered mortgage services to developers of commercial properties including apartments, elderly housing and nursing homes that satisfied FHA criteria. During 2016, the Company sold substantially all of the assets of OMHHF and ceased it operations.

The Company determined that the sale of the assets of OMHHF met the criteria to be classified within discontinued operations, and the results of OMHHF are reported as discontinued operations in the consolidated statements of operations. The following is a summary of revenue and expenses of OMHHF for the years ended December 31, 2018, 2017 and 2016:

(Expressed in thousands)
	For the Years Ended December 31,
	2018		2017		2016
REVENUE
Interest	$	—	$	8	$	943
Principal transactions, net	—		—		(9,022		)
Gain on sale of assets	—		—		16,475
Other(1)	—		2,165		16,917
Total revenue	—		2,173		25,313
EXPENSES
Compensation and related expenses	—		18		4,311
Communications and technology	—		27		221
Occupancy and equipment costs	—		—		415
Interest	—		12		408
Other	—		45		2,619
Total expenses	—		102		7,974
Income before income taxes	$	—	$	2,071	$	17,339
Income attributable to non-controlling interest before income taxes	$	—	$	338	$	2,830

(1) Other revenue for the year ended December 31, 2017 was primarily due to an earn-out from the sale of OMHHF's pipeline business in 2016.

The following is a summary of cash flows of OMHHF for the years ended December 31, 2018, 2017 and 2016:

(Expressed in thousands)
	For the Years Ended December 31,
	2018			2017			2016
Cash provided by (used in) operating activities	$	—		$	5,721		$	(14,097	)
Cash provided by investing activities	—			—			45,448
Cash used in financing activities (1) (2)	(372		)	(20,035		)	(35,421		)
Net decrease in cash and cash equivalents	$	(372	)	$	(14,314	)	$	(4,070	)

(1) Includes cash dividends paid to OMHHF's parent (E.A. Viner International Co.) and non-controlling interest of $nil and $345,000, respectively, for the year ended December 31, 2018 ($12.6 million and $2.4 million, respectively, for the year ended December 31, 2017).

(2) Includes $5.0 million paid to OMHHF's parent due to redemption of the parent's outstanding preferred stock for the year ended December 31, 2017.