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Equity Method Investments | 9 Months Ended
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Sep. 30, 2021
Equity Method Investments And Joint Ventures [Abstract] |
Equity Method Investments | Note 6 – Equity Method Investments In November 2018, CPFH LLC, of which the Company holds a 25% share, was formed to purchase certain real estate assets among partners in a joint venture. In March 2019, Oak Grove Asset Acquisitions LP, of which the Company holds a 50% share, was formed for the execution of auction deals with Napier Park. In March 2020, HGC Origination I LLC and HGC Funding I LLC were formed as joint ventures with a partner for purposes of conducting business relating to the sourcing, origination and funding of loans to debt purchasing clients. The table below details the Company’s joint venture revenues and earnings during the nine months ended September 30, 2021 and 2020 (in thousands):
|  | Nine Months Ended September 30, |
|  | 2021 |  |  | 2020 |
Revenues: |  |  |  |  |  |  |  |
Oak Grove Asset Acquisitions LP |  | $ | 5 |  |  | $ | 1,129 |
CPFH LLC |  |  | 350 |  |  |  | 1,254 |
HGC Funding I LLC and Origination I LLC |  |  | 73 |  |  |  | 324 |
Total revenues |  | $ | 428 |  |  | $ | 2,707 |
Operating (loss) income: |  |  |  |  |  |  |  |
Oak Grove Asset Acquisitions LP |  | $ | 4 |  |  | $ | 249 |
CPFH LLC |  |  | (402 | ) |  |  | 243 |
HGC Funding I LLC and Origination I LLC |  |  | 51 |  |  |  | 308 |
Total operating (loss) income |  | $ | (347 | ) |  | $ | 800 |
The table below details the summarized components of assets and liabilities of the Company’s joint ventures, as of September 30, 2021 and December 31, 2020 (in thousands):
|  | September 30, |  |  | December 31, |
|  | 2021 |  |  | 2020 |
Assets: |  |  |  |  |  |  |  |
Oak Grove Asset Acquisitions LP |  | $ | — |  |  | $ | — |
CPFH LLC |  |  | 11,653 |  |  |  | 10,791 |
HGC Funding I LLC and Origination I LLC |  |  | 4,110 |  |  |  | — |
Total assets |  | $ | 15,763 |  |  | $ | 10,791 |
Liabilities: |  |  |  |  |  |  |  |
Oak Grove Asset Acquisitions LP |  | $ | — |  |  | $ | 1 |
CPFH LLC |  |  | 5,852 |  |  |  | 5,374 |
HGC Funding I LLC and Origination I LLC |  |  | 11 |  |  |  | — |
Total liabilities |  | $ | 5,863 |  |  | $ | 5,375 |

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -URI http://asc.fasb.org/topic&trid=2196965 + Details
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