Equity Investment

3 Months Ended

Mar. 31, 2017

Tyra Tech Inc

Equity Investment

16. TyraTech Inc. (“TyraTech”) is a Delaware corporation that specializes in developing, marketing and selling pesticide products containing natural oils. As of March 31, 2017, the Company’s ownership position in TyraTech was approximately 15.11%. The Company utilizes the equity method of accounting with respect to this investment. As a result, our net income includes losses from equity method investments, which represents our proportionate share of TyraTech’s estimated net losses for the current accounting period. For the three months ended March 31, 2017, the Company recognized a loss of $42 as a result of the Company’s ownership position in TyraTech.

The Company’s investment in TyraTech is included in other assets on the condensed consolidated balance sheets. At March 31, 2017, the carrying value of the Company’s investment in TyraTech was $2,142 and the quoted market value of its shareholding was $1,127 based on the London Stock Exchange, Alternative Investment Market (“AIM”). At March 31, 2017, the Company performed an impairment review of its investment in TyraTech and concluded that the implied decrease in value was not other than temporary and no impairment charge was required.