XML 81 R14.htm IDEA: XBRL DOCUMENT
v3.2.0.727

INVESTMENTS | 6 Months Ended
--- | ---
Jun. 30, 2015
INVESTMENTS [Abstract] |
INVESTMENTS | 7. INVESTMENTS As of June 30, 2015, the Company had both short-term and long-term investments. The short-term investments are classified as available-for-sale securities and the change in value is recognized within accumulated other comprehensive income (loss). The fair market value is determined using quoted market prices (a Level I approach). See Note 14 – Fair Value of Financial Instruments for a description of Level I approach. The long-term investments are comprised of three types of investments; those accounted for under the equity method of accounting, investments in debt securities accounted for as available-for-sale securities and investment in debt securities accounted for under the cost method. For the debt securities, without quoted market prices, the fair values are calculated using other valuation methodologies (a Level II approach). During the three and six months ended June 30, 2015, the Company recorded $1.4 million and ($1.3) million, respectively, of its share of the equity method investments’ net income (loss). The long-term investments are as follows (in thousands):
Company |  | Investment |  | June 30, 2015 |  |  | December 31, 2014 |
Equity Method |  |  |  |  |  |  |  |
Global Cable Technology Ltd. |  | Stock |  | $ | - |  |  | $ | 49 |
SB Submarine Systems Co., Ltd. |  | Stock |  |  | 12,839 |  |  |  | 12,882 |
International Cableship Pte., Ltd. |  | Stock |  |  | 1,832 |  |  |  | 2,111 |
Sembawang Cable Depot Ptd., Ltd. |  | Stock |  |  | 992 |  |  |  | 808 |
Huawei Marine Systems Co., Ltd. |  | Stock |  |  | 11,777 |  |  |  | 10,087 |
Visser Smit Global Marine Partnership |  | Stock |  |  | 428 |  |  |  | 464 |
Novatel Wireless, Inc. |  | 11,473,799 shares and 1,593,583 warrants |  |  | 16,599 |  |  |  | 13,419 |
Kaneland, LLC |  | Stock |  |  | 1,083 |  |  |  | 1,151 |
NerVve Technologies, Inc. |  | 885,286 shares of Series A-1 Preferred Stock |  |  | 5,023 |  |  |  | 5,538 |
Benevir Biopharm, Inc. |  | 2,000 shares of Series A-1 Preferred Stock |  |  | 1,623 |  |  |  | 1,915 |
Available-for-sale |  |  |  |  |  |  |  |  |  |
Gaming Nation Acquisition Corporation |  | Convertible Debt and Warrant |  |  | 16,097 |  |  |  | - |
Cost Method |  |  |  |  |  |  |  |  |  |
DTV America Corporation |  | Convertible Debt |  |  | 3,000 |  |  |  | - |
mParticle |  | Convertible Debt |  |  | 500 |  |  |  | 250 |
|  |  |  | $ | 71,793 |  |  | $ | 48,674 |
2015 Activity Novatel Wireless, Inc. (“Novatel”)
| ● | In February 2015, the Company sold 586,095 shares of common stock and 293,047 warrants for $1.0 million which resulted in a gain of $0.2 million.
| ● | In March 2015, the Company exercised its warrants which converted into 3,824,600 shares of common stock for $8.6 million and also received a new warrant to purchase 1,593,583 shares of common stock at $5.50 per share.
| ● | The Company’s ownership increased to approximately 23% of Novatel’s common stock.
| ● | A basis difference, net of tax for the additional investment in March 2015 of $5.6 million consists of a trade name of $0.6 million (amortized over 15 years), a technology and customer intangible of $0.8 million (amortized over 7 years) and goodwill of $4.2 million.
DTV America Corporation (“DTV”)
| ● | In the first quarter of 2015, the Company purchased $3.0 million of convertible debt.
Gaming Nation Acquisition Corporation
| ● | In April 2015, the Company purchased $16.1 million of convertible debt.

X
- Definition The entire disclosure for investments, including all tables. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Article 6 -Section 10 -Paragraph (c) -Subparagraph (1) + Details
Name: | invest_InvestmentTextBlock
Namespace Prefix: | invest_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | invest_InvestmentsScheduleAbstract
Namespace Prefix: | invest_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration