Investments Investments (Tables)

9 Months Ended

Sep. 30, 2017

Investments, Debt and Equity Securities [Abstract]

Schedule of Assumptions Used [Table Text Block]

The DLOM for the Veritone common stock and warrants was estimated utilizing a Finnerty model with the following results and assumptions:



	Veritone Common Stock		Veritone Warrants
	IPO Date	September 30, 2017	IPO Date	September 30, 2017
Estimated DLOM applied	5.7%	8%	5.7%	5%
Volatility assumptions	35%	100%	35%	45%
Term assumptions	6 months	45 days	6 months	3	-	6 months

Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings [Table Text Block]

For the period from the IPO on May 17, 2017 to September 30, 2017, the accompanying condensed consolidated statement of operations reflected the following (in thousands):



	Three Months Ended September 30,		Nine Months Ended September 30,
	2017		2017
Gain on conversion of loans and accrued interest⁽¹⁾	$	—	$	2,671
Gain on exercise of warrant⁽²⁾	—		4,616
Change in fair value of investment, warrants	31,829		30,900
Change in fair value of investment, common stock	127,150		115,381
Net unrealized gain on investment at fair value	$	158,979	$	153,568

Fair Value, Assets Measured on Recurring Basis [Table Text Block]

Summarized financial information for Veritone, presented on a three month lag basis, is as follows (in thousands, except per share amounts):



	Three Months Ended June 30,			Six Months Ended June 30,
	2017			2017
Revenues	$	4,087		$	7,195
Gross profit	3,751			6,663
Operating expenses	11,599			21,142
Other income (expense), net	(13,746		)	(12,960		)
Net loss attributable to common stockholders	(24,992		)	(31,912		)

Net loss per share attributable to common stockholders - basic and diluted	$	(2.94	)	$	(5.82	)



	June 30, 2017		December 31, 2016
Current assets	$	88,831	$	21,367
Noncurrent assets	440		981
Total Assets	$	89,271	$	22,348

Current liabilities	$	33,746	$	44,501
Noncurrent liabilities	18		22
Total liabilities	33,764		44,523
Preferred stock	—		23,350
Total stockholder's equity (deficit)	55,507		(45,525		)
Total liabilities, preferred stock and stockholders’ equity	$	89,271	$	22,348