• Filing Date: 2020-07-09
  • Form Type: 10-Q
  • Description: Quarterly report
v3.20.2
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
May 31, 2020
May 31, 2019
May 31, 2020
May 31, 2019
Income        
Change in fair value of life settlements (Notes 10 & 16) $ 0 $ 4 $ 0 $ 6
Change in fair value of investment in limited partnership, net of distributions (Notes 11 and 16) 9,000 0 16,351 0
Change in fair value of investment in deconsolidated subsidiaries (Notes 4 & 16) 0 (18,804) 0 (52,769)
Gain on life settlements, net (Note 10) 0 0 743 0
Other income 101 46 10,817 93
Total income 9,101 (18,754) 27,911 (52,670)
Expenses        
Interest expense 2,473 2,775 4,867 5,538
Extinguishment of debt 0 0 (2,815) 0
Personnel costs 435 138 2,389 307
Legal fees 203 725 1,112 720
Professional fees 559 (57) 1,416 278
Insurance 524 217 841 396
Other selling, general and administrative expenses 255 98 520 200
Total expenses 4,449 3,896 8,330 7,439
Income (loss) from continuing operations before income taxes 4,652 (22,650) 19,581 (60,109)
Provision (benefit) provision for income taxes 0 3,218 2,428 3,218
Net income (loss) from continuing operations 4,652 (25,868) 17,153 (63,327)
Discontinued Operations:        
Income (loss) from discontinued operations before income taxes 10 (16) (53) (33)
Provision (benefit) provision for income taxes 0 0 0 0
Net income (loss) from discontinued operations 10 (16) (53) (33)
Net income (loss) $ 4,662 $ (25,884) $ 17,100 $ (63,360)
Basic income (loss) per common share:        
Continuing operations (in dollars per share) $ 0.03 $ (0.16) $ 0.11 $ (0.40)
Discontinued operations (in dollars per share) 0.00 0.00 0.00 0.00
Net income (loss) - basic (in dollars per share) 0.03 (0.16) 0.11 (0.40)
Diluted income (loss) per share:        
Continuing operations (in dollars per share) 0.02 (0.16) 0.09 (0.40)
Discontinued operations (in dollars per share) 0.00 0.00 0.00 0.00
Net income (loss) - diluted (in dollars per share) $ 0.02 $ (0.16) $ 0.09 $ (0.40)
Weighted average shares outstanding:        
Basic (in shares) 157,648,168 156,960,046 157,608,707 156,939,797
Diluted (in shares) 175,581,286 156,960,046 204,522,043 156,939,797