Schedule I - Condensed Financial Information of the Registrant (Parent Company)

12 Months Ended

Dec. 31, 2021

Notes to Financial Statements

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

SCHEDULE I. Condensed Financial Information of the Registrant (Parent Company)

Parent Company Balance Sheets

(in thousands)	December 31, 2021			December 31, 2020
Assets
Investments in subsidiaries	$	1,944		$	6,155
Cash and cash equivalents		56			186
Other assets		447			428
Total Assets	$	2,447		$	6,769
Liabilities and Shareholders' Equity
Liabilities:
Accrued expenses and other liabilities	$	1,674		$	2,263
Total Liabilities		1,674			2,263
Redeemable Class A preferred stock		6,497			6,504
Shareholders' Equity:
Common stock		—			—
Additional paid-in capital		359,138			355,242
Treasury stock, at cost		(492	)		(492	)
Accumulated deficit		(395,149	)		(394,807	)
Accumulated other comprehensive income		30,779			38,059
Shareholders' equity attributable to common shareholders		(5,724	)		(1,998	)
Total Liabilities, Class A preferred stock and Shareholders' Equity	$	2,447		$	6,769

See accompanying report of independent registered accounting firm.

SCHEDULE I. Condensed Financial Information of the Registrant (Parent Company)

Parent Company Statements of Operations

(in thousands)	Years ended December 31,
	2021			2020
Other revenue (expenses), net:
General and administrative expenses	$	(3,287	)	$	(1,735	)
Non-operating other expense		(2	)		(3	)
Total other expenses, net		(3,289	)		(1,738	)
Loss from continuing operations before income tax benefit and equity in loss of subsidiaries		(3,289	)		(1,738	)
Income tax benefit		(340	)		(214	)
Equity in income (loss) of subsidiaries		4,809			(3,892	)
Net income (loss)	$	1,860		$	(5,416	)

See accompanying report of independent registered accounting firm.

SCHEDULE I. Condensed Financial Information of the Registrant (Parent Company)

Parent Company Statements of Comprehensive Loss

(in thousands)	Years ended December 31,
	2021			2020
Net income (loss)	$	1,860		$	(5,416	)
Other comprehensive, net of taxes(1):
Unrealized losses on available-for-sale investments:
Unrealized losses arising during the period		—			—
Reclassification adjustment for amounts included in net loss		—			—
Other comprehensive loss - parent only		—			—
Equity in other comprehensive (loss) income of subsidiaries		(7,295	)		2,723
Other comprehensive (loss) income		(7,295	)		2,723
Comprehensive loss	$	(5,435	)	$	(2,693	)

(1) Net of income tax benefit of $0 and $0 in 2021 and 2020, respectively

See accompanying report of independent registered accounting firm.

SCHEDULE I. Condensed Financial Information of the Registrant (Parent Company)

Parent Company Statements of Cash Flows

(in thousands)	Years ended December 31,
	2021			2020
Cash provided by (used in):
Operating activities:
Net income (loss)	$	1,860		$	(5,416	)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Equity in net (income) loss of subsidiaries		(4,809	)		3,892
Stock-based compensation expense, net of forfeitures		1,620			219
Other, net		(551	)		855
Net cash used in operating activities		(1,880	)		(450	)
Investing activities:
Net cash from investing activities		—			—
Financing activities:
Proceeds from exercise of warrants		1,750			—
Net cash provided by financing activities		1,750			—
Net decrease in cash and cash equivalents		(130	)		(450	)
Cash and cash equivalents at beginning of period		186			636
Cash and cash equivalents at end of period	$	56		$	186

See accompanying report of independent registered accounting firm.