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Segment Reporting
 3 Months Ended
Mar. 31, 2014
Segment Reporting [Text Block]

Note 11 – Segment Reporting

From 2005 until the second quarter of 2009, the Company operated in a single business segment, Patent Licensing. In the second quarter of 2009, the Company diversified into a second segment, Asset Liquidation.

There are no material inter-segment revenues or expenses. To date the Company’s business has been conducted principally in North America, but the establishment of offices in Europe in the third quarter of 2012 is expected to result in more international operations in future periods.

The table below presents information about the Company’s segments as of and for the three months ended March 31, 2014 and 2013:

 

   For the three months ended March 31, 2014  

 

                  

 

   Asset     Patent        

 

   Liquidation     Licensing     Total  

Revenues from external customers

 $ 1,985   $  —   $ 1,985  

Loss from equity accounted asset liquidation investments

   (30 )   —     (30 )

Other income

   —     —     —  

Interest expense

   71     —     71  

Depreciation and amortization

   118     —     118  

Segment loss

   (471 )   (11 )   (482 )

Investment in equity accounted asset liquidation investees

   1,011     —     1,011  

 

                  

Segment assets

   19,212     28     19,240  

 

   For the three months ended March 31, 2013  

 

                  

 

   Asset     Patent        

 

   Liquidation     Licensing     Total  

Revenues from external customers

 $ 1,392   $ 200   $ 1,592  

Earnings from equity accounted asset liquidation investments

   802     —     802  

Other income

   —     —     —  

Interest expense

   95     —     95  

Depreciation and amortization

   121     —     121  

Segment income (loss)

   (587 )   50     (537 )

Investment in equity accounted asset liquidation investees

   2,901     —     2,901  

 

                  

Segment assets

   20,297     228     20,525  

The following table reconciles reportable segment information to the unaudited condensed consolidated interim financial statements of the Company:

 

   Three months     Three months  

 

   ended     ended  

 

   March 31,     March 31,  

 

   2014     2013  

 

            

Total interest expense for reportable segments

 $ 71   $ 95  

Unallocated interest expense from related party debt

   67     —  

 

 $ 138   $ 95  

 

            

Total depreciation and amortization for reportable segments

 $ 118   $ 121  

Other unallocated depreciation from corporate assets

   —     —  

 

 $ 118   $ 121  

 

            

Total segment loss

 $ (482 ) $ (537 )

Other income (expense) and earnings (loss) of other equity accounted investments

   11     —  

Other corporate expenses (primarily corporate level interest, general and administrative expenses)

   433     463  

Income tax expense (recovery)

   24,667     (353 )

Net loss from continuing operations

 $ (25,571 ) $ (647 )

 

            

 

            

Segment assets

 $ 19,240   $ 20,525  

Other assets not allocated to segments (1)

  4,476     34,602  

Total assets

 $ 23,716   $ 55,127  
  (1)

Other assets not allocated to segments are corporate assets such as cash, non-trade accounts receivable, prepaid insurance, investments and deferred income tax assets.