Asset Liquidation Investments and Other Investments

3 Months Ended

Mar. 31, 2015

Asset Liquidation Investments and Other Investments [Text Block]

Note 7 – Asset Liquidation Investments and Other Investments

Summarized financial information – Equity accounted asset liquidation investments

     The table below details the summarized results of operations attributable to HGI from the Joint Ventures in which it was invested:

		Three months ended
		March 31,
		2015		2014
Gross revenues	$	34	$	10
Gross profit (loss)	$	34	$	(30	)
Net income (loss)	$	34	$	(30	)

Other investments

     At March 31, 2015 and December 31, 2014, the Company’s sole other equity investment consisted of a one-third interest in Knight’s Bridge Capital Partners Internet Fund No. 1 GP LLC (“Knight’s Bridge GP”), a private company. The investment was acquired in December 2007 for a purchase price of $20. Knight’s Bridge GP is the general partner of Knight’s Bridge Capital Partners Internet Fund No. 1 LP (the “Fund”). The Fund holds investments in several public and non-public Internet-based e-commerce businesses. The Company accounts for its investment under the equity method.

     At December 31, 2014 the Company’s net investment was $156, which included approximately $136 representing the Company’s proportionate share of profits related to the Fund’s fair value increase and projected exit from one of its investments. The Company received a distribution of $140 in March 2015, representing the final determination of its share of the profits. At March 31, 2015, following the Company recording its share of Knight’s Bridge GP’s first quarter operations, the Company’s investment had a balance of $21.