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Revision of Prior Period Financial Statements | 12 Months Ended
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Dec. 31, 2019
Accounting Changes And Error Corrections [Abstract] |
Revision of Prior Period Financial Statements | 22. REVISION OF PRIOR PERIOD FINANCIAL STATEMENTS In connection with the preparation of the Company’s 2019 consolidated financial statements, the Company identified errors in its historical financial statements relating to how the Company accounted for debt discounts and how the Company accounted for reimbursement of salaries and other salary related costs. Specifically, the Company incorrectly accounted for debt discount that should have been fully amortized at the end of the initial three-year term of the CGF Note in October 2017. In addition, in 2018 and the interim periods in 2019, the Company previously reported the reimbursement of salary costs from its property management agreements on a net basis, although the Company was required to account for these payroll related reimbursements on a gross basis. The correction of these non-cash errors had no effect on the reported operating income (loss) or total cash flows from operations, investing, or financing of the Company. The Company evaluated the errors and, based on an analysis of quantitative and qualitative factors, determined that the related impact was not material to the Company’s consolidated financial statements for any prior period. All financial statements and footnotes presented herein have been adjusted to reflect the revisions below.
|  | For the Three Months Ended March 31, 2019 |  |  | For the Three Months Ended June 30, 2019 |  |  | For the Six Months Ended June 30, 2019 |
|  | As previously reported |  |  | Adjustment |  |  | As adjusted |  |  | As previously reported |  |  | Adjustment |  |  | As adjusted |  |  | As previously reported |  |  | Adjustment |  |  | As adjusted |
Revenues - asset management |  | $ | 3,861 |  |  | $ | 350 |  |  | $ | 4,211 |  |  | $ | 4,024 |  |  | $ | 426 |  |  | $ | 4,450 |  |  | $ | 7,885 |  |  | $ | 776 |  |  | $ | 8,661 |
Direct costs - asset management |  |  | 3,317 |  |  |  | 350 |  |  |  | 3,667 |  |  |  | 3,514 |  |  |  | 426 |  |  |  | 3,940 |  |  |  | 6,831 |  |  |  | 776 |  |  |  | 7,607 |
Interest (expense) |  |  | (34 | ) |  |  | 16 |  |  |  | (18 | ) |  |  | (132 | ) |  |  | 16 |  |  |  | (116 | ) |  |  | (166 | ) |  |  | 32 |  |  |  | (134 | )
Net income (loss) |  |  | 69 |  |  |  | 16 |  |  |  | 85 |  |  |  | (253 | ) |  |  | 16 |  |  |  | (237 | ) |  |  | (184 | ) |  |  | 32 |  |  |  | (152 | )
Notes payable - due to affiliates, net of discount |  |  | 4,935 |  |  |  | 799 |  |  |  | 5,734 |  |  |  | 4,984 |  |  |  | 718 |  |  |  | 5,702 |  |  |  | 4,984 |  |  |  | 718 |  |  |  | 5,702 |
Additional paid-in capital |  |  | 180,769 |  |  |  | 959 |  |  |  | 181,728 |  |  |  | 197,333 |  |  |  | 1,025 |  |  |  | 198,358 |  |  |  | 197,333 |  |  |  | 1,025 |  |  |  | 198,358 |
Accumulated deficit |  |  | (194,250 | ) |  |  | (1,758 | ) |  |  | (196,008 | ) |  |  | (194,503 | ) |  |  | (1,742 | ) |  |  | (196,245 | ) |  |  | (194,503 | ) |  |  | (1,742 | ) |  |  | (196,245 | )
Total equity |  |  | 7,095 |  |  |  | (799 | ) |  |  | 6,296 |  |  |  | 7,013 |  |  |  | (718 | ) |  |  | 6,295 |  |  |  | 7,013 |  |  |  | (718 | ) |  |  | 6,295 |
|  | For the Three Months Ended September 30, 2019 |  |  | For the Nine Months Ended September 30, 2019 |
|  | As previously reported |  |  | Adjustment |  |  | As adjusted |  |  | As previously reported |  |  | Adjustment |  |  | As adjusted |
Revenues - asset management |  | $ | 4,293 |  |  | $ | 487 |  |  | $ | 4,780 |  |  | $ | 12,178 |  |  | $ | 1,263 |  |  | $ | 13,441 |
Direct costs - asset management |  |  | 3,710 |  |  |  | 487 |  |  |  | 4,197 |  |  |  | 10,541 |  |  |  | 1,263 |  |  |  | 11,804 |
Interest (expense) |  |  | (186 | ) |  |  | 16 |  |  |  | (170 | ) |  |  | (352 | ) |  |  | 48 |  |  |  | (304 | )
Net (loss) |  |  | (643 | ) |  |  | 16 |  |  |  | (627 | ) |  |  | (827 | ) |  |  | 48 |  |  |  | (779 | )
Notes payable - due to affiliates, net of discount |  |  | 4,981 |  |  |  | 702 |  |  |  | 5,683 |  |  |  | 4,981 |  |  |  | 702 |  |  |  | 5,683 |
Additional paid-in capital |  |  | 198,184 |  |  |  | 1,025 |  |  |  | 199,209 |  |  |  | 198,184 |  |  |  | 1,025 |  |  |  | 199,209 |
Accumulated deficit |  |  | (195,146 | ) |  |  | (1,726 | ) |  |  | (196,872 | ) |  |  | (195,146 | ) |  |  | (1,726 | ) |  |  | (196,872 | )
Total equity |  |  | 7,221 |  |  |  | (702 | ) |  |  | 6,519 |  |  |  | 7,221 |  |  |  | (702 | ) |  |  | 6,519 |
|  | For the Three Months Ended March 31, 2018 |  |  | For the Three Months Ended June 30, 2018 |  |  | For the Six Months Ended June 30, 2018 |
|  | As previously reported |  |  | Adjustment |  |  | As adjusted |  |  | As previously reported |  |  | Adjustment |  |  | As adjusted |  |  | As previously reported |  |  | Adjustment |  |  | As adjusted |
Revenues - asset management |  | $ | 2,791 |  |  | $ | — |  |  | $ | 2,791 |  |  | $ | 2,960 |  |  | $ | 224 |  |  | $ | 3,184 |  |  | $ | 5,751 |  |  | $ | 224 |  |  | $ | 5,975 |
Direct costs - asset management |  |  | 2,541 |  |  |  | — |  |  |  | 2,541 |  |  |  | 2,606 |  |  |  | 224 |  |  |  | 2,830 |  |  |  | 5,147 |  |  |  | 224 |  |  |  | 5,371 |
Interest (expense) |  |  | (24 | ) |  |  | 13 |  |  |  | (11 | ) |  |  | (24 | ) |  |  | (39 | ) |  |  | (63 | ) |  |  | (48 | ) |  |  | (26 | ) |  |  | (74 | )
Income tax (expense) benefit |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 495 |  |  |  | — |  |  |  | 495 |  |  |  | 495 |  |  |  | — |  |  |  | 495 |
Net (loss) |  |  | (723 | ) |  |  | 13 |  |  |  | (710 | ) |  |  | (1,002 | ) |  |  | (39 | ) |  |  | (1,041 | ) |  |  | (1,725 | ) |  |  | (26 | ) |  |  | (1,751 | )
Notes payable - due to affiliates, net of discount |  |  | 15,346 |  |  |  | 1,891 |  |  |  | 17,237 |  |  |  | 4,874 |  |  |  | 847 |  |  |  | 5,721 |  |  |  | 4,874 |  |  |  | 847 |  |  |  | 5,721 |
Additional paid-in capital |  |  | 177,747 |  |  |  | — |  |  |  | 177,747 |  |  |  | 181,009 |  |  |  | 1,083 |  |  |  | 182,092 |  |  |  | 181,009 |  |  |  | 1,083 |  |  |  | 182,092 |
Accumulated deficit |  |  | (190,526 | ) |  |  | (1,891 | ) |  |  | (192,417 | ) |  |  | (191,528 | ) |  |  | (1,930 | ) |  |  | (193,458 | ) |  |  | (191,528 | ) |  |  | (1,930 | ) |  |  | (193,458 | )
Total equity |  |  | 2,119 |  |  |  | (1,891 | ) |  |  | 228 |  |  |  | 11,318 |  |  |  | (847 | ) |  |  | 10,471 |  |  |  | 11,318 |  |  |  | (847 | ) |  |  | 10,471 |
|  | For the Three Months Ended September 30, 2018 |  |  | For the Nine Months Ended September 30, 2018 |  |  | For the Twelve Months Ended December 31, 2018 |
|  | As previously reported |  |  | Adjustment |  |  | As adjusted |  |  | As previously reported |  |  | Adjustment |  |  | As adjusted |  |  | As previously reported |  |  | Adjustment |  |  | As adjusted |
Revenues - asset management |  | $ | 2,730 |  |  | $ | 355 |  |  | $ | 3,085 |  |  | $ | 8,481 |  |  | $ | 579 |  |  | $ | 9,060 |  |  | $ | 12,473 |  |  | $ | 943 |  |  | $ | 13,416 |
Direct costs - asset management |  |  | 2,458 |  |  |  | 355 |  |  |  | 2,813 |  |  |  | 7,605 |  |  |  | 579 |  |  |  | 8,184 |  |  |  | 11,291 |  |  |  | 943 |  |  |  | 12,234 |
Interest (expense) |  |  | (25 | ) |  |  | 16 |  |  |  | (9 | ) |  |  | (73 | ) |  |  | (10 | ) |  |  | (83 | ) |  |  | (97 | ) |  |  | 7 |  |  |  | (90 | )
Income tax (expense) benefit |  |  | 445 |  |  |  | 83 |  |  |  | 528 |  |  |  | 940 |  |  |  | 83 |  |  |  | 1,023 |  |  |  | 938 |  |  |  | 124 |  |  |  | 1,062 |
Net (loss) |  |  | (1,927 | ) |  |  | 99 |  |  |  | (1,828 | ) |  |  | (3,652 | ) |  |  | 73 |  |  |  | (3,579 | ) |  |  | (4,516 | ) |  |  | 131 |  |  |  | (4,385 | )
Notes payable - due to affiliates, net of discount |  |  | 4,869 |  |  |  | 831 |  |  |  | 5,700 |  |  |  | 4,869 |  |  |  | 831 |  |  |  | 5,700 |  |  |  | 4,903 |  |  |  | 813 |  |  |  | 5,716 |
Additional paid-in capital |  |  | 180,683 |  |  |  | 1,000 |  |  |  | 181,683 |  |  |  | 180,683 |  |  |  | 1,000 |  |  |  | 181,683 |  |  |  | 180,673 |  |  |  | 959 |  |  |  | 181,632 |
Accumulated deficit |  |  | (193,456 | ) |  |  | (1,831 | ) |  |  | (195,287 | ) |  |  | (193,456 | ) |  |  | (1,831 | ) |  |  | (195,287 | ) |  |  | (194,319 | ) |  |  | (1,772 | ) |  |  | (196,091 | )
Total equity |  |  | 7,627 |  |  |  | (831 | ) |  |  | 6,796 |  |  |  | 7,627 |  |  |  | (831 | ) |  |  | 6,796 |  |  |  | 6,630 |  |  |  | (813 | ) |  |  | 5,817 |

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- References No definition available. + Details
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- Definition The entire disclosure for reporting accounting changes and error corrections. It includes the conveyance of information necessary for a user of the Company's financial information to understand all aspects and required disclosure information concerning all changes and error corrections reported in the Company's financial statements for the period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -URI http://asc.fasb.org/topic&trid=2122394 + Details
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