SEC Schedule, Article 12-04, Condensed Financial Information of Registrant

12 Months Ended

Dec. 31, 2011

SEC Schedule, Article 12-04, Condensed Financial Information of Registrant

Condensed Financial Information of Parent Company Only Disclosure [Text Block]

18.       SELECTED QUARTERLY FINANCIAL DATA (unaudited)

Year Ended December 31, 2011	First Quarter	Second Quarter	Third Quarter	Fourth Quarter
Total revenues	$  1,827,000	$      311,000	$ 1,198,000	$        (7,000)
Operating income (loss) (1)	29,000	(1,335,000)	(538,000)	(1,752,000)
Net income (loss) attributable to common shareholders	29,000	(1,335,000)	(538,000)	(1,752,000)
Net loss per share attributable to common shareholders:
Basic	-	(0.10)	(0.04)	(0.26)
Assuming dilution	-	(0.10)	(0.04)	(0.26)
Weighted average number    of common shares    outstanding
Basic	13,826,055	13,747,028	14,255,351	14,115,651
Assuming dilution	14,466,787	13,747,028	14,255,351	14,115,561

Five Months Ended    December 31, 2010	Three Months ended October 31, 2010	Two Months Ended December 31, 2010
Total revenues	$            119,470	$                 68,272
Operating loss (1)	(1,094,413)	(1,313,131)
Net loss attributable to common shareholders	(1,094,413)	(1,445,4841)
Net loss attributable to common shareholders:
Basic	(0.08)	(0.11)
Assuming dilution	(0.08)	(0.11)
Weighted average number    of common shares    outstanding
Basic	13,824,944	13,824,944
Assuming dilution	13,824,944	13,824,944

(1)  Operating (loss) is defined herein as revenues less expenses, excluding investment income, income taxes, and preferred stock dividend.