Segment Reporting

9 Months Ended

Sep. 30, 2011

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

Note 13 – Segment Reporting

Beginning in 2005, the Company operated in a single business segment, Patent Licensing.  With the commencement of Counsel RB’s operations in the second quarter of 2009, the Company diversified into a second segment, Asset Liquidation.  For the nine months ending September 30, 2011 and 2010, only the Asset Liquidation segment had revenues and assets sufficiently significant to require separate reporting.

There are no material inter-segment revenues.  The Company’s business is conducted principally in the U.S.  The table below presents information about the Asset Liquidation segment of the Company as of and for the three and nine months ended September 30, 2011 and 2010:

	For the Three Months Ended
	September 30, 2011			September 30, 2010
	Asset Liquidation			Asset Liquidation
Revenues from external customers	$	2,149		$	340
Earnings of equity accounted asset liquidation investments		478			1,370
Other income		1			153
Interest expense		(45	)		(48	)
Segment income (pre-tax)		828			1,132
Investment in equity accounted asset liquidation investments		461			4,278
Segment assets		7,384			7,977

	For the Nine Months Ended
	September 30, 2011			September 30,  2010
	Asset Liquidation			Asset Liquidation
Revenues from external customers	$	14,618		$	3,061
Earnings from equity accounted asset liquidation investments		2,195			4,408
Other income		15			28
Interest expense		(181	)		(246	)
Segment income (pre-tax)		5,282			3,988

The following table reconciles reportable segment information to the unaudited condensed consolidated financial statements of the Company:

	Three months  ended September 30, 2011			Three months  ended September 30, 2010			Nine months  ended September 30, 2011			Nine months  ended September 30, 2010
Total other income and earnings from equity accounted investments for reportable segments	$	479		$	1,523		$	2,210		$	4,436
Unallocated other income and earnings (losses) from equity investments from corporate accounts		(28	)		(93	)		22			58
	$	451		$	1,430		$	2,232		$	4,494
Total interest expense for reportable segments	$	45		$	48		$	181		$	246
Unallocated interest expense from related party debt		—			—			—			64
	$	45		$	48		$	181		$	310
Total depreciation and amortization for reportable segments	$	1		$	—		$	1		$	—
Other unallocated depreciation from corporate assets		—			—			—			—
	$	1		$	—		$	1		$	—
Total segment income (pre-tax)	$	828		$	1,132		$	5,282		$	3,988
Other income (expense)		(28	)		(93	)		22			58
Other corporate expenses (primarily corporate level interest, general and administrative expenses)		(356	)		(217	)		(751	)		(764	)
Income tax expense (recovery)		(416	)		(110	)		(36	)		271
Net income from continuing operations	$	860		$	932		$	4,589		$	3,011

	As at		As at
	September 30, 2011		September 30, 2010
Segment assets	$	7,384	$	7,977
Intangible assets not allocated to segments		—		—
Other assets not allocated to segments(1)		12,706		2,845
	$	20,090	$	10,822

(1) Other assets not allocated to segments are corporate assets such as cash, non-trade accounts receivable, prepaid insurance, investments and deferred income tax assets.