• Filing Date: 2018-05-10
  • Form Type: 10-Q
  • Description: Quarterly report
v3.8.0.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2018
Dec. 31, 2017
ASSETS    
Cash and cash equivalents $ 12,917 $ 18,131 [1]
Certificates of deposit 1,012 1,010 [1]
Prepaid expenses and other assets 1,100 617 [1]
Deposits - other 1,377 1,377 [1]
Life settlements, at estimated fair value (Note 14) 782 750 [1]
Fixed assets, net 124 145 [1]
Investment in affiliates [1]   2,384
Total assets 649,268 634,390 [1]
Liabilities    
Accounts payable and accrued expenses 1,946 2,015 [1]
Other liabilities 1,086 451 [1]
Total liabilities 456,538 437,748 [1]
Commitments and Contingencies (Note 17) [1]
Stockholders’ Equity    
Common stock (par value $0.01 per share, 415,000,000 authorized at March 31, 2018 and December 31, 2017; 158,600,399 issued and 157,992,399 outstanding as of March 31, 2018;158,495,399 issued and 157,887,399 outstanding as of December 31, 2017) 1,586 1,585 [1]
Preferred stock (par value $0.01 per share, 40,000,000 authorized; 0 issued and outstanding as of March 31, 2018 and December 31, 2017) 0 0 [1]
Treasury Stock, net of issuance cost (608,000 shares as of March 31, 2018 and December 31, 2017) (2,534) (2,534) [1]
Additional paid-in-capital 333,711 333,629 [1]
Accumulated deficit (140,033) (136,038) [1]
Total stockholders’ equity 192,730 196,642 [1]
Total liabilities and stockholders’ equity 649,268 634,390 [1]
8.50% Senior Unsecured Convertible Notes Due 2019    
Liabilities    
Interest payable 21 46 [1]
Convertible Notes, net of discount and deferred debt costs 1,118 1,098 [1]
5.0% Senior Unsecured Convertible Notes Due 2023    
Liabilities    
Interest payable 485 1,432 [1]
Convertible Notes, net of discount and deferred debt costs 68,929 68,654 [1]
8.5% Senior Secured Notes Due 2021    
Liabilities    
Interest payable 132 132 [1]
8.5% Senior Secured Notes, net of deferred debt costs (Note 13) 33,990 33,927 [1]
Variable Interest Entity    
ASSETS    
Cash and cash equivalents 28,302 13,136 [1]
Prepaid expenses and other assets 24 53 [1]
Life settlements, at estimated fair value (Note 14) 566,846 566,742 [1]
Receivable for maturity of life settlements (VIE Note 4) 34,400 30,045 [1]
Liabilities    
Accounts payable and accrued expenses 971 753 [1]
Variable Interest Entity | White Eagle Revolving Credit Facility    
Liabilities    
White Eagle Revolving Credit Facility, at estimated fair value (VIE Note 4 & Note 9) $ 347,860 $ 329,240 [1]
[1] Derived from audited consolidated financial statements.