Equity Method Investments

6 Months Ended

Jun. 30, 2015

Equity Method Investments [Text Block]

Note 7 – Equity Method Investments

Summarized financial information – Equity method accounted asset liquidation investments

The summarized results of operations attributable to HGI’s equity method accounted asset liquidation investments are detailed in the table below (in thousands):

		Six months ended June 30,
		2015		2014
Revenues	$	646	$	10
Operating income (loss)	$	139	$	(12	)

Other investments

At June 30, 2015 and December 31, 2014, the Company’s sole other equity method 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 $20,000. 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 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 $0.2 million, which included approximately $0.1 million 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 the profit distribution of $0.1 million in March 2015.