10-Q/A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q/A

(Amendment No.1)

S QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2012

OR

£ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from       to

Commission file number: 0-17973

Counsel RB Capital Inc.

(Exact name of registrant as specified in its charter)

FLORIDA	59-2291344
(State or other jurisdiction of
Incorporation or Organization)	(I.R.S. Employer Identification No.)

700 – 1 Toronto St., Toronto, ON M5C 2V6

(Address of Principal Executive Offices)

(416) 866-3000

(Registrant’s Telephone Number)

N/A

(Registrant’s Former Name)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities and Exchange Act of 1934 during the preceding 12 months (or for such shorter time period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes R No o

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes R No o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company (as defined in Exchange Act Rule 12b-2).

Large Accelerated Filer £	Accelerated Filer £
Non-Accelerated Filer £	Smaller reporting company R

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes £ No R

As of August 7, 2012, there were 28,135,228 shares of common stock, $0.01 par value, outstanding.

Explanatory Note

The purpose of this Amendment No. 1 to Counsel RB Capital Inc.’s Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2012, filed with the Securities and Exchange Commission on August 14, 2012 (the “Form 10-Q”), is solely to furnish Exhibit 101 to the Form 10-Q in accordance with Rule 405 of Regulation S-T. Exhibit 101 to this report provides the unaudited condensed consolidated interim financial statements and related notes from the Form 10-Q formatted in XBRL (eXtensible Business Reporting Language).

No other changes have been made to the Form 10-Q. This Amendment No. 1 to the Form 10-Q speaks as of the original filing date of the Form 10-Q, does not reflect events that may have occurred subsequent to the original filing date, and does not modify or update in any way disclosures made in the original Form 10-Q.

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Item 6. Exhibits.

(a) Exhibits

Exhibit No. Identification of Exhibit

31.1 *	Certification of Principal Executive Officer pursuant to Rule 13a-14(a) and 15d-14(a) as adopted under Section 302 of the Sarbanes-Oxley Act of 2002
31.2 *	Certification of Principal Financial Officer pursuant to Rule 13a-14(a) and 15d-14(a) as adopted under Section 302 of the Sarbanes-Oxley Act of 2002
32.1 *	Certification of Principal Executive Officer pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.2 *	Certification of Principal Financial Officer pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101.INS**	XBRL Instance Document
101.SCH**	XBRL Taxonomy Extension Schema Document
101.CAL**	XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF**	XBRL Taxonomy Extension Definition Linkbase Document
101.LAB**	XBRL Taxonomy Extension Labels Linkbase Document
101.PRE**	XBRL Taxonomy Extension Presentation Linkbase Document

* These exhibits were previously included in Counsel RB Capital Inc’s Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2012, filed with the Securities and Exchange Commission on August 14, 2012.

** Pursuant to Rule 406T of Regulation S-T, these interactive data files on Exhibit 101 hereto are deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, are deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise are not subject to liability under those sections.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunder duly authorized.

	Counsel RB Capital Inc.
Date: August 30, 2012	By:	/s/ Allan C. Silber
		Allan C. Silber
		Chairman of the Board and President
		(Principal Executive Officer)
	By:	/s/ Stephen A. Weintraub
		Stephen A. Weintraub
		Chief Financial Officer and Corporate Secretary
		(Principal Financial Officer)

4

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Composition of Certain Financial Statement Items (Details) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
Accounts receivable (net of allowance for doubtful accounts of $0; 2011 - $0)	$ 2,451	$ 730
Notes receivable (net of allowance for doubtful accounts of $0; 2011 - $186)	0	39
Lease receivable	80	148
Accounts, Notes, Loans and Financing Receivable, Net, Current	$ 2,531	$ 917

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Segment Reporting (Details 1) (USD $) In Thousands, unless otherwise specified	3 Months Ended				6 Months Ended				12 Months Ended
	Jun. 30, 2012		Jun. 30, 2011		Jun. 30, 2012		Jun. 30, 2011		Dec. 31, 2011
Other income (expenses) and earnings (loss) from equity accounted investments	$ (166)		$ 206		$ 866		$ 1,781
Interest expense	56		52		115		136
Depreciation	8		0		11		0
Interest expense on related party debt not allocated to segments	8		0		11		0
Income tax expense (recovery)	(287)		978		26		380
Interest Expense, Other	48		52		104		136
Net income (loss)	(421)		3,540		(31)		3,729		30,713
Total assets	56,020		18,122		56,020		18,122		47,147
Unallocated Amount To Segment [Member]
Depreciation	0		0		0		0
Other Income (Expense) And Earnings (Loss) From Equity Accounted Investments Not Assigned To Segments	(6)		35		(53)		50
Interest expense on related party debt not allocated to segments	8		0		11		0
Other corporate expenses (primarily corporate level interest, general and administrative expenses)	(542)		(333)		(1,017)		(395)
Income tax expense (recovery)	(287)		978		26		380
Total assets	35,548	[1]	12,253	[1]	35,548	[1]	12,253	[1]
Reportable Segment [Member]
Total Other Income Loss And Earnings Loss From Equity Accounted Investments For Reportable Segments	(160)		171		919		1,731
Depreciation	8		0		11		0
Total segment income (loss)	(160)		4,816		1,065		4,454
Interest Expense, Other	48		52		104		136
Total assets	$ 20,472		$ 5,869		$ 20,472		$ 5,869

[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.

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Patent Participation Fee (Details Textual)	3 Months Ended
	Dec. 31, 2003
Asset Acquisition, Contingent Consideration	Consideration provided was $100 plus a 35% residual payable to the third party relating to the net proceeds from future licensing and/or enforcement actions from the CRBCI VoIP patent portfolio

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Commitments and Contingencies (Details) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012
2012	$ 158
2013	154
2014	141
2015	$ 148

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Debt (Details) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
Revolving credit facility	$ 2,644	$ 3,091
Promissory notes payable to related parties	1,011	0
Total Debt	3,655	3,091
Less current portion	3,655	3,091
Long-term debt, less current portion	$ 0	$ 0

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Acquisition of Heritage Global Partners, Inc. (Details Textual) (USD $) In Thousands, except Share data, unless otherwise specified	0 Months Ended	6 Months Ended
	Feb. 29, 2012	Jun. 30, 2012
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares	1,000,000
Business Acquisition, Options Issued, Number of Options	625,000
Weighted Average Exercise Price, Granted	$ 2.00	$ 2.04
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate	133.00%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate	1.25%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term	4 years 9 months
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate	0.00%
Allowance for Doubtful Accounts Receivable	$ 0

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Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2012

Earning Loss Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

Basic and diluted EPS were calculated using the following:

	Three Months Ended June 30,						Six Months Ended June 30,
(In thousands, except per share amounts)	2012			2011			2012			2011
Net income (loss)	$	(421	)	$	3,540		$	(31	)	$	3,729
Less:  income allocated to preferred stockholders		—			(3	)		—			(3	)
Net income (loss) allocated to common stockholders	$	(421	)	$	3,537		$	(31	)	$	3,726
Weighted average shares for basic EPS		28,135			26,997			27,809			26,562
Add:  incremental shares from assumed conversions of stock options		—			232			—			121
Weighted average shares for diluted EPS		28,135			27,229			27,809			26,683
Basic and diluted earnings (loss) per share attributable to common stockholders	$	(0.01	)	$	0.13		$	0.00		$	0.14

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Related Party Transactions (Details) (Counsel Services [Member], USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Counsel Services [Member]
Management fees	$ 180	$ 180
Other charges	38	35
Operating Expenses Paid to Related Party	$ 218	$ 215

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Asset Liquidation Investments and Other Investments (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Gross revenues			$ 5,026	$ 2,023
Gross profit			1,237	1,620
Income from continuing operations			1,227	1,717
Net income	$ 158	$ 157	$ 1,227	$ 1,717

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Earnings Per Share (Details) (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011	Dec. 31, 2011
Net income (loss)	$ (421)	$ 3,540	$ (31)	$ 3,729	$ 30,713
Less: income allocated to preferred stockholders	0	(3)	0	(3)
Net income (loss) allocated to common stockholders	$ (421)	$ 3,537	$ (31)	$ 3,726
Weighted average common shares outstanding for basic EPS (in thousands) (in shares)	28,135	26,997	27,809	26,562
Add: incremental shares from assumed conversions of stock options	0	232	0	121
Weighted average shares for diluted EPS	28,135	27,229	27,809	26,683
Basic and diluted earnings (loss) per share attributable to common stockholders	$ (0.01)	$ 0.13	$ 0.00	$ 0.14

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Related Party Transactions (Details Textual) (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2012	Dec. 31, 2011
Due From Related Parties, Current	$ 3,317	$ 595
Debt payable to related parties	1,011	0
Counsel [Member]
Due From Related Parties, Current	3,166	595
Related Party Transaction, Description of Transaction	The amounts due under the Agreement are payable within 30 days following the respective year end, subject to applicable restrictions. Any unpaid fee amounts bear interest at 10% per annum commencing on the day after such year end
Other Related Parties [Member]
Due From Related Parties, Current	$ 151

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Debt (Details Textual) (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Dec. 31, 2011
Line of Credit Facility, Description	The Credit Facility bears interest at the greater of prime rate + 1.0%, or 4.5%, and the maximum borrowing available under the Credit Facility is US $10,000, subject to Counsel RB maintaining a 1:2 ratio of capital funds
Line of Credit Facility, Maximum Borrowing Capacity	$ 10,000
Line Of Credit Facility Collateral Assets	2,950		4,303
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.50%
Unused Line Fee Description	The Unused Line Fee is equal to the product of 0.50% per annum multiplied by the difference between $10,000 and the average loan amount outstanding during the month.
Accrued interest added to principal of related party debt	$ 11	$ 0
Related Party Transaction, Terms and Manner of Settlement	The Promissory Notes bear interest at the prime rate and are due in full, plus accrued interest, on August 31, 2012 (the Maturity Date).

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Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2012

Accounting Policies [Abstract]

Significant Accounting Policies [Text Block]

Note 2 – Summary of Significant Accounting Policies

Use of estimates

The preparation of the Company’s consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenues and expenses during the reporting period. Management bases its estimates and judgments on historical experience and various other factors that are believed to be reasonable under the circumstances. Actual results could differ from those estimates.

Significant estimates include the assessment of collectability of revenue recognized, and the valuation of amounts receivable, inventory, investments, assets acquired, deferred income tax assets, goodwill and intangible assets, liabilities, and stock-based compensation. These estimates have the potential to significantly impact our consolidated financial statements, either because of the significance of the financial statement item to which they relate, or because they require judgment and estimation due to the uncertainty involved in measuring, at a specific point in time, events that are continuous in nature.

The critical accounting policies used in the preparation of our audited consolidated financial statements are discussed in our Annual Report on Form 10-K for the year ended December 31, 2011. There have been no changes to these policies in the second quarter of 2012.

Recent Accounting Pronouncements

In May 2011, the FASB issued Accounting Standards Update 2011-04, Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs (“ASU 2011-04”). ASU 2011-04 results from joint efforts by the FASB and the International Accounting Standards Board (“IASB”) to develop converged guidance on how to measure fair value and what disclosures to provide about fair value measurements. Although ASU 2011-04 is largely consistent with the existing US GAAP fair value measurement principles, it expands existing disclosure requirements and makes other amendments. ASU 2011-04 is effective for interim or annual reporting periods beginning after December 15, 2011, with early adoption not permitted. The Company adopted ASU 2011-04 in the first quarter of 2012; its adoption did not have a material effect on the Company’s consolidated financial statements.

In September 2011, the FASB issued Accounting Standards Update 2011-08, Testing Goodwill for Impairment (“ASU 2011-08”). ASU 2011-08 amends the goodwill impairment testing guidance in ASC 350-20, by providing the option to perform a qualitative assessment before calculating the fair value of the reporting unit (i.e.: before performing Step 1 of the goodwill impairment test). If it is determined, on the basis of qualitative factors, that the fair value of the reporting unit is more likely than not less than the carrying amount, the existing two-step impairment test would be required. If it is determined that the fair value more likely than not exceeds the carrying value, further testing would not be required. ASU 2011-08 does not change the calculation of goodwill or its assignment to reporting units. It also does not change the requirement to test goodwill annually for impairment, or to test for impairment between annual tests if warranted by events or circumstances. However, it does revise the examples of events and circumstances that should be considered. ASU 2011-08 is effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011, with early adoption permitted. The Company adopted ASU 2011-08 in the fourth quarter of 2011.

In December 2011, the FASB issued Accounting Standards Update 2011-12, Deferral of the Effective Date for Amendments to the Presentation of Reclassifications of Items Out of Accumulated Other Comprehensive Income in Accounting Standards Update No. 2011-05 (“ASU 2011-12”). ASU 2011-12 defers certain provisions of ASU 2011-05 that relate to the presentation of reclassification adjustments out of accumulated OCI. Both ASU 2011-05 and 2011-12 are effective for interim or annual reporting periods beginning after December 15, 2011, with early adoption permitted. The guidance must be applied retrospectively for all periods presented in the financial statements. The Company adopted ASU 2011-05 and ASU 2011-12 in the first quarter of 2012. However, because the Company has no OCI in any of the periods presented, the adoptions had no effect on the Company’s consolidated financial statements. 

The FASB, the Emerging Issues Task Force and the SEC have issued other accounting pronouncements and regulations during 2011 and 2012 that will become effective in subsequent periods. The Company’s management does not believe that these pronouncements will have a significant impact on the Company’s consolidated financial statements at the time they become effective.

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Asset Liquidation Investments and Other Investments (Details 1) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
Total Investments	$ 2,602	$ 2,772
Knight's Bridge Capital Partners Internet Fund No. 1 G P LLC [Member]
Total Investments	19	19
Polaroid [Member]
Total Investments	$ 2,583	$ 2,753

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Related Party Transactions (Tables)

6 Months Ended

Jun. 30, 2012

Related Party Transactions [Abstract]

Schedule Of Services Relating To Operations Paid to Related Party [Table Text Block]

These amounts are detailed below:

Item	Amounts charged for the six months ended June 30,
	2012		2011
Management fees	$	180	$	180
Other charges		38		35
Total	$	218	$	215

Schedule Of Lease Amounts Paid To Related Parties [Table Text Block]

The lease amounts paid by the Company to the related parties are detailed below:

Leased premises location	Amounts charged for the six months ended June 30,
	2012		2011
White Plains, NY	$	63	$	61
Los Angeles, CA		13		13
Foster City, CA		43		—
Total	$	119	$	74

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Debt (Tables)

6 Months Ended

Jun. 30, 2012

Debt [Abstract]

Schedule of Debt [Table Text Block]

The Company’s debt as at June 30, 2012 and December 31, 2011 consisted of the following:

	June 30, 2012		December 31, 2011
Revolving credit facility	$	2,644	$	3,091
Promissory notes payable to related parties		1,011		—
		3,655		3,091
Less current portion		3,655		3,091
Long-term debt, less current portion	$	—	$	—

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Subsequent Events (Details Textual) (Co-CEOs [Member], USD $)	Aug. 10, 2012
Co-CEOs [Member]
Common Stock Shares Issued For Each Co-CEO	400,000
Common Stock Fair Value Per Share	$ 1.31672

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Asset Liquidation Investments and Other Investments (Details 2) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
Net investment	$ 2,602	$ 2,772
Polaroid [Member]
Capital invested	3,033
Equity in earnings	227
Capital returned	(677)
Net investment	2,583	2,753
Class A [Member] | Polaroid [Member]
Capital invested	2,427
Equity in earnings	185
Capital returned	(544)
Net investment	2,068
Class D [Member] | Polaroid [Member]
Capital invested	606
Equity in earnings	42
Capital returned	(133)
Net investment	$ 515

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Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2012

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment [Table Text Block]

The table below presents information about the Asset Liquidation segment of the Company as of and for the three and six months ended June 30, 2012 and 2011:

	For the three months ended June 30,
	2012			2011
	Asset Liquidation			Asset Liquidation
Revenues from external customers	$	3,831		$	11,735
Earnings from equity accounted asset liquidation investments		158			157
Other income (expense)		(318	)		14
Interest expense		48			52
Depreciation and amortization		8			—
Segment income (loss)		(160	)		4,816
Investment in equity accounted asset liquidation investees		1,677			1,471
Segment assets		20,472			5,869

	For the six months ended June 30,
	2012			2011
	Asset Liquidation			Asset Liquidation
Revenues from external customers	$	6,865		$	12,469
Earnings from equity accounted asset liquidation investments		1,227			1,717
Other income (expense)		(308	)		14
Interest expense		104			136
Depreciation and amortization		11			—
Segment income		1,065			4,454

Reconciliation Of Operating Profit (Loss) From Segments To Consolidated Net Income (Loss) [Table Text Block]

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

	Three months ended June 30, 2012			Three months ended June 30, 2011			Six months ended June 30, 2012			Six months ended June 30, 2011
Total other income (expense) and earnings from equity accounted investments for reportable segments	$	(160	)	$	171		$	919		$	1,731
Unallocated other income (loss) and earnings (loss) from equity investments from corporate accounts		(6	)		35			(53	)		50
	$	(166	)	$	206		$	866		$	1,781
Total interest expense for reportable segments	$	48		$	52		$	104		$	136
Unallocated interest expense from related party debt		8			—			11			—
	$	56		$	52		$	115		$	136
Total depreciation and amortization for reportable segments	$	8		$	—		$	11		$	—
Other unallocated depreciation from corporate assets		—			—			—			—
	$	8		$	—		$	11		$	—
Total segment income (loss)	$	(160	)	$	4,816		$	1,065		$	4,454
Other income (loss)		(6	)		35			(53	)		50
Other corporate expenses (primarily corporate level interest, general and administrative expenses)		(542	)		(333	)		(1,017	)		(395	)
Income tax expense (recovery)		(287	)		978			26			380
Net income (loss) from continuing operations	$	(421	)	$	3,540		$	(31	)	$	3,729

	As at June 30, 2012		As at June 30, 2011
Segment assets	$	20,472	$	5,869
Other assets not allocated to segments(1)		35,548		12,253
	$	56,020	$	18,122

(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.

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Commitments and Contingencies (Tables)

6 Months Ended

Jun. 30, 2012

Commitments and Contingencies [Abstract]

Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]

The annual lease obligations are as shown below:

2012	$	158
2013	$	154
2014	$	141
2015	$	148

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Basis of Presentation

6 Months Ended

Jun. 30, 2012

Organization, Consolidation and Presentation Of Financial Statements [Abstract]

Business Description and Basis of Presentation [Text Block]

Note 1 –Basis of Presentation

These unaudited condensed consolidated interim financial statements include the accounts of Counsel RB Capital Inc. together with its subsidiaries, including Counsel RB Capital LLC (“Counsel RB”), Equity Partners CRB LLC, Heritage Global Partners, Inc., C2 Communications Technologies Inc., and C2 Investments Inc. These entities, collectively, are referred to as “CRBCI”, the “Company”, “we” or “our” in these financial statements. Our unaudited condensed consolidated interim financial statements were prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”), as outlined in the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and include the assets, liabilities, revenues, and expenses of all subsidiaries over which CRBCI exercises control. All significant intercompany accounts and transactions have been eliminated upon consolidation.

We have prepared the condensed consolidated interim financial statements included herein, without audit, pursuant to the rules and regulations of the United States Securities and Exchange Commission (the “SEC”). In our opinion, these financial statements reflect all adjustments that are necessary to present fairly the results for interim periods. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations; however, we believe that the disclosures are appropriate. These unaudited condensed consolidated interim financial statements should be read in conjunction with the consolidated financial statements and the notes thereto included in the Company’s annual report on Form 10-K for the year ended December 31, 2011, filed with the SEC on March 22, 2012.

Certain items in the condensed consolidated interim statement of operations and comprehensive income for the six months ended June 30, 2011 have been reclassified to conform to current year presentation. These changes had no effect on previously reported net income or stockholders’ equity.

The results of operations for the six-month period ended June 30, 2012 are not necessarily indicative of those operating results to be expected for any subsequent interim period or for the entire year ending December 31, 2012.

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Acquisition of Heritage Global Partners, Inc. (Details) (USD $) In Thousands, unless otherwise specified	0 Months Ended
	Feb. 29, 2012
Consideration paid
Cash	$ 3,000
Promissory notes, net of receivable from owners	849	[1]
1,000,000 CRBCI common shares	2,100	[2]
625,000 options to purchase CRBCI common shares at $2.00 per share	1,131	[3]
Fair value of total consideration	7,080
Acquisition related costs (included in selling, general, and administrative expenses in CRBCI's condensed consolidated interim statement of operations for the six months ended June 30, 2012)	81
Recognized amounts of identifiable assets acquired and liabilities assumed
Cash	656
Accounts receivable (net of $0 allowance for doubtful accounts)	878
Deposits	20
Prepaid expenses	35
Property, plant and equipment	37
Accounts payable and accrued liabilities	(1,213)
Client liability account	(1,424)
Short-term note payable	(100)
Total identifiable net liabilities assumed	(1,111)
Goodwill	8,191
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net	$ 7,080

[1] The notes (the "Promissory Notes") are due in full on August 31, 2012, and bear interest at the U.S. Prime Rate

[2] Determined using the closing price of the shares on February 29, 2012

[3] Determined using the Black-Scholes Option Pricing Model. Inputs to the model included an expected volatility of 133%, a risk-free interest rate of 1.25%, an expected life of 4.75 years, and an expected dividend yield of zero

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Composition of Certain Financial Statement Items (Details 1) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
Due to Heritage Global Partners clients	$ 3,786	$ 0
Due to Joint Venture partners	572	89
Sales and other taxes	735	66
Remuneration and benefits	140	402
Asset liquidation expenses	31	0
Regulatory and legal fees	150	49
Accounting, auditing and tax consulting	81	169
Patent licensing and maintenance	4	8
Other	327	72
Total accounts payable and accrued liabilities	$ 5,826	$ 855

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Segment Reporting (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011	Dec. 31, 2011
Revenues from external customers	$ 3,831	$ 11,735	$ 6,865	$ 12,469
Earnings from equity accounted asset liquidation investments	158	157	1,227	1,717
Other income (expense)	(317)	16	(307)	16
Interest expense	48	52	104	136
Depreciation and amortization	8	0	11	0
Investment in equity accounted asset liquidation investees	1,677	1,471	1,677	1,471	3,455
Segment assets	20,472	5,869	20,472	5,869
Segment [Member]
Other income (expense)	(318)	14	(308)	14
Segment income (loss)	$ (160)	$ 4,816	$ 1,065	$ 4,454

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CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
ASSETS
Cash and cash equivalents	$ 4,475	$ 6,672
Amounts receivable (net of allowance for doubtful accounts of $0; 2011 - $186)	2,531	917
Receivables from related parties	3,317	595
Deposits	2,153	69
Inventory - equipment	582	1,013
Other current assets	363	148
Deferred income tax assets	2,414	2,419
Total current assets	15,835	11,833
Other assets:
Inventory - real estate	710	2,131
Asset liquidation investments	1,677	3,455
Investments	2,602	2,772
Property, plant and equipment	44	19
Goodwill	8,763	573
Deferred income tax assets	26,389	26,364
Total assets	56,020	47,147
LIABILITIES AND EQUITY
Accounts payable and accrued liabilities	5,826	855
Income taxes payable	112	261
Debt payable to third parties	2,644	3,091
Debt payable to related parties	1,011	0
Total liabilities	9,593	4,207
Commitments and contingencies (Note 13)
Equity:
Preferred stock, $10.00 par value, authorized 10,000,000 shares; issued and outstanding 592 Class N shares at June 30, 2012 and December 31, 2011, liquidation preference of $592 at June 30, 2012 and December 31, 2011	6	6
Common stock, $0.01 par value, authorized 300,000,000 shares; issued and outstanding 28,135,228 shares at June 30, 2012 and 27,117,450 shares at December 31, 2011	281	271
Additional paid-in capital	281,916	278,408
Accumulated deficit	(235,776)	(235,745)
Total equity	46,427	42,940
Total liabilities and equity	$ 56,020	$ 47,147

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Asset Liquidation Investments and Other Investments (Details Textual) (USD $) In Thousands, unless otherwise specified								6 Months Ended
	Jun. 30, 2012	Dec. 31, 2011	Jun. 30, 2012 Knight's Bridge Capital Partners Internet Fund No. 1 G P LLC [Member]	Dec. 31, 2011 Knight's Bridge Capital Partners Internet Fund No. 1 G P LLC [Member]	Dec. 31, 2007 Knight's Bridge Capital Partners Internet Fund No. 1 G P LLC [Member]	Jun. 30, 2012 Polaroid [Member]	Dec. 31, 2011 Polaroid [Member]	Jun. 30, 2012 Polaroid [Member] Class D [Member]	Jun. 30, 2012 Polaroid [Member] Class A [Member]	Jun. 30, 2012 Polaroid [Member] Limited Partner [Member]	Jun. 30, 2009 KPL, LLC [Member]	Jun. 30, 2009 Polaroid Corporation [Member]
Non-Asset Liquidation Equity Investment Acquired					$ 20	$ 3,033		$ 606	$ 2,427
Net investment at balance sheet date	2,602	2,772	19	19		2,583	2,753	515	2,068
Total Investment											19,000	55,000
Equity Method Investment, Ownership Percentage					33.33%							5.00%
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest										95.24%
Annual Management Fees on Investment								$ 11	$ 40
Preferred Return on Investment								10.00%	8.00%
Managing Partner, Carried Interest								20.00%	20.00%
Management Fee Percentage								2.00%	2.00%

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CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (USD $) In Thousands, except Share data	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Total
Balance at Dec. 31, 2010	$ 6	$ 259	$ 275,641	$ (266,458)	$ 9,448
Balance (in shares) at Dec. 31, 2010	592	25,960,080
Issuance of common stock	0	12	1,995	0	2,007
Issuance of common stock (in shares)	0	1,122,950
Exercise of options	0	0	16	0	16
Exercise of options (in shares)	0	34,420
Issuance of options	0	0	460	0	460
Compensation cost related to stock options	0	0	296	0	296
Net income (loss)	0	0	0	30,713	30,713
Balance at Dec. 31, 2011	6	271	278,408	(235,745)	42,940
Balance (in shares) at Dec. 31, 2011	592	27,117,450
Issuance of common stock	0	10	2,090	0	2,100
Issuance of common stock (in shares)	0	1,000,000
Exercise of options	0	0	8	0	8
Exercise of options (in shares)	0	17,778
Issuance of options	0	0	1,131	0	1,131
Compensation cost related to stock options	0	0	279	0	279
Net income (loss)	0	0	0	(31)	(31)
Balance at Jun. 30, 2012	$ 6	$ 281	$ 281,916	$ (235,776)	$ 46,427
Balance (in shares) at Jun. 30, 2012	592	28,135,228

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Stock-based Compensation (Details 1) (USD $)	0 Months Ended	6 Months Ended
	Feb. 29, 2012	Jun. 30, 2012	Jun. 30, 2011
Options, Outstanding (in shares) at December 31, 2011		3,141,198	3,142,031
Options, Granted (in shares)		1,040,000
Options, Exercised (in shares)		(21,750)
Options, Forfeited (in shares)		(250,000)
Options, Expired (in shares)		(1,250)
Options, Outstanding (in shares) at June 30, 2012		3,908,198	3,142,031
Options, Exercisable (in shares) at June 30, 2012		1,283,198
Weighted Average Exercise Price, Outstanding at December 31, 2011		$ 1.65
Weighted Average Exercise Price, Granted	$ 2.00	$ 2.04
Weighted Average Exercise Price, Exercised		$ 0.63
Weighted Average Exercise Price, Forfeited		$ 1.83
Weighted Average Exercise Price, Expired		$ 1.40
Weighted Average Exercise Price, Outstanding at June 30, 2012		$ 1.75
Weighted Average Exercise Price, Options exercisable at June 30, 2012		$ 1.37

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Summary of Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2012

Accounting Policies [Abstract]

Use of Estimates, Policy [Policy Text Block]

Use of estimates

The preparation of the Company’s consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenues and expenses during the reporting period. Management bases its estimates and judgments on historical experience and various other factors that are believed to be reasonable under the circumstances. Actual results could differ from those estimates.

Significant estimates include the assessment of collectability of revenue recognized, and the valuation of amounts receivable, inventory, investments, assets acquired, deferred income tax assets, goodwill and intangible assets, liabilities, and stock-based compensation. These estimates have the potential to significantly impact our consolidated financial statements, either because of the significance of the financial statement item to which they relate, or because they require judgment and estimation due to the uncertainty involved in measuring, at a specific point in time, events that are continuous in nature.

The critical accounting policies used in the preparation of our audited consolidated financial statements are discussed in our Annual Report on Form 10-K for the year ended December 31, 2011. There have been no changes to these policies in the second quarter of 2012.

New Accounting Pronouncements, Policy [Policy Text Block]

Recent Accounting Pronouncements

In May 2011, the FASB issued Accounting Standards Update 2011-04, Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs (“ASU 2011-04”). ASU 2011-04 results from joint efforts by the FASB and the International Accounting Standards Board (“IASB”) to develop converged guidance on how to measure fair value and what disclosures to provide about fair value measurements. Although ASU 2011-04 is largely consistent with the existing US GAAP fair value measurement principles, it expands existing disclosure requirements and makes other amendments. ASU 2011-04 is effective for interim or annual reporting periods beginning after December 15, 2011, with early adoption not permitted. The Company adopted ASU 2011-04 in the first quarter of 2012; its adoption did not have a material effect on the Company’s consolidated financial statements.

In September 2011, the FASB issued Accounting Standards Update 2011-08, Testing Goodwill for Impairment (“ASU 2011-08”). ASU 2011-08 amends the goodwill impairment testing guidance in ASC 350-20, by providing the option to perform a qualitative assessment before calculating the fair value of the reporting unit (i.e.: before performing Step 1 of the goodwill impairment test). If it is determined, on the basis of qualitative factors, that the fair value of the reporting unit is more likely than not less than the carrying amount, the existing two-step impairment test would be required. If it is determined that the fair value more likely than not exceeds the carrying value, further testing would not be required. ASU 2011-08 does not change the calculation of goodwill or its assignment to reporting units. It also does not change the requirement to test goodwill annually for impairment, or to test for impairment between annual tests if warranted by events or circumstances. However, it does revise the examples of events and circumstances that should be considered. ASU 2011-08 is effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011, with early adoption permitted. The Company adopted ASU 2011-08 in the fourth quarter of 2011.

In December 2011, the FASB issued Accounting Standards Update 2011-12, Deferral of the Effective Date for Amendments to the Presentation of Reclassifications of Items Out of Accumulated Other Comprehensive Income in Accounting Standards Update No. 2011-05 (“ASU 2011-12”). ASU 2011-12 defers certain provisions of ASU 2011-05 that relate to the presentation of reclassification adjustments out of accumulated OCI. Both ASU 2011-05 and 2011-12 are effective for interim or annual reporting periods beginning after December 15, 2011, with early adoption permitted. The guidance must be applied retrospectively for all periods presented in the financial statements. The Company adopted ASU 2011-05 and ASU 2011-12 in the first quarter of 2012. However, because the Company has no OCI in any of the periods presented, the adoptions had no effect on the Company’s consolidated financial statements. 

The FASB, the Emerging Issues Task Force and the SEC have issued other accounting pronouncements and regulations during 2011 and 2012 that will become effective in subsequent periods. The Company’s management does not believe that these pronouncements will have a significant impact on the Company’s consolidated financial statements at the time they become effective.

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Stock-based Compensation (Details Textual)	6 Months Ended	0 Months Ended	3 Months Ended
	Jun. 30, 2012	Feb. 29, 2012 Heritage Global Partners [Member]	Mar. 31, 2012 Officers And Employees [Member]
Options, Granted (in shares)	1,040,000	625,000	890,000

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Stock-based Compensation (Tables)

6 Months Ended

Jun. 30, 2012

Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]

Disclosure of Share-based Payment Awards [Table Text Block]

During the second quarter of 2012, the Company made the following option grants:

							Black-Scholes Option Pricing Inputs
Grant date	Number of options		Recipient		Fair value		Exercise price		Volatility			Interest rate			Expected term		Expected dividend yield
February 13, 2012 1		100,000		Employee	$	1.4600	$	2.40		133	%		1.25	%		4.75 years		Zero
April 2, 2012		50,000		Independent directors	$	1.7261	$	2.00		135	%		1.47	%		4.75 years		Zero

¹ The terms of the grant were finalized in the second quarter, effective as of the employment date.

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

The following summarizes the changes in common stock options for the six months ended June 30, 2012:

	Options			Weighted Average Exercise Price
Outstanding at December 31, 2011		3,141,198		$	1.65
Granted		1,040,000		$	2.04
Exercised		(21,750	)	$	0.63
Forfeited		(250,000	)	$	1.83
Expired		(1,250	)	$	1.40
Outstanding at June 30, 2012		3,908,198		$	1.75
Options exercisable at June 30, 2012		1,283,198		$	1.37

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Cash flows from operating activities:
Net income (loss)	$ (31)	$ 3,729
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Accrued interest added to principal of third party debt	14	7
Amortization of financing costs on debt payable to third party	9	18
Accrued interest added to principal of related party debt	11	0
Stock-based compensation expense	279	66
Loss (earnings) of other equity accounted investments	54	(48)
Writedown of real estate inventory	363	0
Depreciation and amortization	11	0
Provision for doubtful accounts	0	40
Changes in operating assets and liabilities:
Decrease (increase) in amounts receivable	(803)	77
Decrease (increase) in lease receivable	68	(214)
Decrease (increase) in deposits	(2,084)	126
Decrease in inventory	1,489	1,710
Decrease in asset liquidation investments	1,778	2,077
Increase in other assets	(168)	(140)
Decrease (increase) in deferred income tax assets	(20)	140
Increase (decrease) in accounts payable and accrued liabilities	2,234	(1,493)
Increase (decrease) in income taxes payable	(149)	165
Net cash provided by operating activities	3,055	6,260
Cash flows used in investing activities:
Net cash paid for business acquisition	(2,344)	(175)
Investment in other equity accounted investments	(41)	(32)
Cash distributions from other equity accounted investments	157	2
Net cash used in investing activities	(2,228)	(205)
Cash flows used in financing activities:
Proceeds of debt payable to third parties	4,879	1,932
Repayment of debt payable to third parties	(5,340)	(5,503)
Proceeds of debt payable to a related party	1,274	864
Repayment of debt payable to a related party	(3,845)	(405)
Proceeds from exercise of options to purchase common shares	8	0
Proceeds from issuance of common shares, net of share issuance costs	0	1,823
Net cash used in financing activities	(3,024)	(1,289)
Increase (decrease) in cash	(2,197)	4,766
Cash and cash equivalents at beginning of period	6,672	2,608
Cash and cash equivalents at end of period	4,475	7,374
Supplemental schedule of non-cash investing and financing activities:
Issuance of common stock in exchange for assets of acquired business	2,100	184
Issuance of options to purchase common stock in exchange for assets of acquired business	1,131	460
Supplemental cash flow information:
Taxes paid	219	109
Interest paid	$ 97	$ 91

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CONDENSED CONSOLIDATED BALANCE SHEETS [Parenthetical] (USD $) In Thousands, except Share data, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
Allowance for doubtful accounts (in thousands of dollars)	$ 0	$ 186
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	300,000,000	300,000,000
Common stock, shares issued	28,135,228	27,117,450
Common stock, shares outstanding	28,135,228	27,117,450
Preferred Class N [Member]
Preferred stock, par value (in dollars per share)	$ 10.00	$ 10.00
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	592	592
Preferred stock, shares outstanding	592	592
Preferred stock, liquidation preference (in thousands of dollars)	$ 592	$ 592

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Income Taxes

6 Months Ended

Jun. 30, 2012

Income Taxes [Abstract]

Income Tax Disclosure [Text Block]

Note 10 – Income Taxes

In the second quarter of 2012, the Company recognized a current income tax recovery of $28, resulting in a year-to-date net income tax expense of $46. The Company also recognized a deferred income tax recovery of $259, resulting in a year-to-date net deferred tax recovery of $20. The deferred income tax recovery for the second quarter of 2012 is primarily due to the recognition of the tax benefit of available tax loss carry forwards generated in the second quarter that are more likely than not expected to be utilized against future income. The $28,803 net deferred income tax asset balance as at June 30, 2012 reflects the tax benefit of available tax loss carry forwards that are more likely than not expected to be utilized against future income.

At June 30, 2012, the Company had available federal tax loss carryforwards of approximately $54,500 of unrestricted net operating tax losses and approximately $28,200 of restricted net operating tax losses. The net operating loss carryforwards expire between 2024 and 2029.

The Company’s utilization of restricted net operating tax loss carryforwards against future income for tax purposes is restricted pursuant to the “change in ownership” rules in Section 382 of the Internal Revenue Code. These rules, in general, provide that an ownership change occurs when the percentage shareholdings of 5% direct or indirect stockholders of a loss corporation have, in aggregate, increased by more than 50 percentage points during the immediately preceding three years.

Restrictions in net operating loss carryforwards occurred in 2001 as a result of the acquisition of the Company by Counsel. Further restrictions may have occurred as a result of subsequent changes in the share ownership and capital structure of the Company and Counsel and disposition of business interests by the Company. Pursuant to Section 382 of the Internal Revenue Code, the annual usage of the Company’s net operating loss carryforwards was limited to approximately $2,500 per annum until 2008 and $1,700 per annum thereafter. There is no certainty that the application of these “change in ownership” rules may not recur, resulting in further restrictions on the Company’s income tax loss carry forwards existing at a particular time. In addition, further restrictions, reductions in, or expiry of net operating loss and net capital loss carryforwards may occur through future merger, acquisition and/or disposition transactions or failure to continue a significant level of business activities. Any such additional limitations could require the Company to pay income taxes on its future earnings and record an income tax expense to the extent of such liability, despite the existence of such tax loss carryforwards. Furthermore, any such additional limitations may result in the Company having to reverse all or a portion of its deferred tax balance or set up a valuation allowance at such time.

The Company, until recently, has had a history of incurring annual tax losses, beginning in 1991. All loss taxation years remain open for audit pending the application of the respective tax losses against income in a subsequent taxation year. In general, the statute of limitations expires three years from the date that a company files a tax return applying prior year tax loss carryforwards against income for tax purposes in the later year. The Company applied historic tax loss carryforwards to offset income for tax purposes in 2008, 2010 and 2011, respectively. The 2008 through 2011 taxation years remain open for audit.

The Company is subject to state income tax in multiple jurisdictions. In most states, the Company does not have tax loss carryforwards available to shield income attributable to a particular state from being subject to tax in that particular state.

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DOCUMENT AND ENTITY INFORMATION	6 Months Ended
	Jun. 30, 2012	Aug. 07, 2012
Entity Registrant Name	Counsel RB Capital Inc.
Entity Central Index Key	0000849145
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Trading Symbol	crbn
Entity Common Stock, Shares Outstanding		28,135,228
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2012
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2012

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Related Party Transactions

6 Months Ended

Jun. 30, 2012

Related Party Transactions [Abstract]

Related Party Transactions Disclosure [Text Block]

Note 11 – Related Party Transactions

Transactions with Counsel

At June 30, 2012 the Company had a receivable from Counsel in the amount of $3,166, as compared to a receivable of $595 at December 31, 2011. In the normal course of operations, the Company may receive advances from Counsel under an existing loan facility (the “Counsel Loan”). The Counsel Loan, which was originally entered into during the fourth quarter of 2003, accrues interest at 10% per annum compounded quarterly from the date funds are advanced, and is due on demand. The Counsel Loan is secured by the assets of the Company.

Counsel Services Provided to Company

Since December 2004, CRBCI and Counsel have entered into successive annual management services agreements (the “Agreement”). Under the terms of the Agreement, CRBCI agrees to pay Counsel for ongoing services provided to CRBCI by Counsel personnel. The basis for such services charged is an allocation, based on time incurred, of the cost of the base compensation paid by Counsel to those employees providing services to CRBCI. The amounts due under the Agreement are payable within 30 days following the respective year end, subject to applicable restrictions. Any unpaid fee amounts bear interest at 10% per annum commencing on the day after such year end. In the event of a change of control, merger or similar event of CRBCI, all amounts owing, including fees incurred up to the date of the event, will become due and payable immediately upon the occurrence of such event. Beginning in the first quarter of 2011, additional amounts were charged to the Company for Counsel services relating to the operations of Counsel RB. These amounts are detailed below:

Item	Amounts charged for the six months ended June 30,
	2012		2011
Management fees	$	180	$	180
Other charges		38		35
Total	$	218	$	215

Transactions with Other Related Parties

The Company leases office space in White Plains, NY and Los Angeles, CA as part of the operations of Counsel RB. Both premises are owned by entities that are controlled by a Co-CEO of Counsel RB and the Company. Additionally, the Company leases office space in Foster City, CA as part of the operations of Heritage Global Partners, which are owned by an entity that is jointly controlled by the former owners of Heritage Global Partners. The lease amounts paid by the Company to the related parties are detailed below:

Leased premises location	Amounts charged for the six months ended June 30,
	2012		2011
White Plains, NY	$	63	$	61
Los Angeles, CA		13		13
Foster City, CA		43		—
Total	$	119	$	74

As discussed in Note 3, as part of the acquisition of Heritage Global Partners during the first quarter of 2012, the Company issued Promissory Notes totaling $1,000 to its two former owners. The Promissory Notes are partially offset by $151 of accounts receivable from the former owners.

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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Revenue:
Asset sales	$ 2,041	$ 11,626	$ 3,891	$ 12,224
Commissions and other	1,790	109	2,974	245
Total asset liquidation revenue	3,831	11,735	6,865	12,469
Operating costs and expenses:
Asset liquidation	1,675	5,697	3,208	6,136
Inventory maintenance	(26)	383	(23)	1,553
Patent licensing and maintenance	8	13	34	70
Selling, general and administrative	2,471	1,133	4,054	1,957
Expenses paid to related parties	181	145	337	289
Depreciation	8	0	11	0
Total operating costs and expenses	4,317	7,371	7,621	10,005
Operating Income (Loss) Before Earnings of Equity Accounted Asset Liquidation Investments	(486)	4,364	(756)	2,464
Earnings of equity accounted asset liquidation investments	158	157	1,227	1,717
Operating income (loss)	(328)	4,521	471	4,181
Other income (expenses):
Other income (expenses)	(317)	16	(307)	16
Interest expense - third party	(48)	(52)	(104)	(136)
Interest expense - related party	(8)	0	(11)	0
Total other income (expenses)	(373)	(36)	(422)	(120)
Income (loss) before the undernoted	(701)	4,485	49	4,061
Income tax expense (recovery)	(287)	978	26	380
Earnings (loss) of other equity accounted investments (net of $0 tax)	(7)	33	(54)	48
Net income (loss) and comprehensive income (loss)	$ (421)	$ 3,540	$ (31)	$ 3,729
Weighted average common shares outstanding - basic (in thousands) (in shares)	28,135	26,997	27,809	26,562
Weighted average common shares outstanding - diluted (in thousands) (in shares)	28,135	27,229	27,809	26,683
Earnings (loss) per share - basic and diluted:
Common shares (in dollars per share)	$ (0.01)	$ 0.13	$ 0.00	$ 0.14

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Earnings Per Share

6 Months Ended

Jun. 30, 2012

Earning Loss Per Share [Abstract]

Earnings Per Share [Text Block]

Note 5 – Earnings Per Share

The Company is required, in periods in which it has net income, to calculate basic earnings per share (“EPS”) using the two-class method. The two-class method is required because the Company’s Class N preferred shares, each of which is convertible to 40 common shares, have the right to receive dividends or dividend equivalents should the Company declare dividends on its common stock. Under the two-class method, earnings for the period are allocated on a pro-rata basis to the common and preferred stockholders. The weighted-average number of common and preferred shares outstanding during the period is then used to calculate basic EPS for each class of shares.

In periods in which the Company has a net loss, basic loss per share is calculated by dividing the loss attributable to common stockholders by the weighted-average number of common shares outstanding during the period. The two-class method is not used, because the preferred stock does not participate in losses.

Options are included in the calculation of diluted earnings per share, since they are assumed to be exercised, except when their effect would be anti-dilutive. For the six months ended June 30, 2012, the Company had a net loss and therefore diluted EPS was not calculated. For the six months ending June 30, 2011, 2,727,031 of 3,142,031 options outstanding were excluded.

Basic and diluted EPS were calculated using the following:

	Three Months Ended June 30,						Six Months Ended June 30,
(In thousands, except per share amounts)	2012			2011			2012			2011
Net income (loss)	$	(421	)	$	3,540		$	(31	)	$	3,729
Less:  income allocated to preferred stockholders		—			(3	)		—			(3	)
Net income (loss) allocated to common stockholders	$	(421	)	$	3,537		$	(31	)	$	3,726
Weighted average shares for basic EPS		28,135			26,997			27,809			26,562
Add:  incremental shares from assumed conversions of stock options		—			232			—			121
Weighted average shares for diluted EPS		28,135			27,229			27,809			26,683
Basic and diluted earnings (loss) per share attributable to common stockholders	$	(0.01	)	$	0.13		$	(0.00	)	$	0.14

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Stock-based Compensation

6 Months Ended

Jun. 30, 2012

Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

Note 4 – Stock-based Compensation

At June 30, 2012 the Company maintained seven stock-based compensation plans. Six of these plans are described more fully in Note 14 to the audited consolidated financial statements for the year ended December 31, 2011, contained in the Company’s most recently filed Annual Report on Form 10-K. A new plan, the Heritage Global Partners Plan (the “HGP Plan”), was set up to facilitate the issuance of options as part of the acquisition of Heritage Global Partners. It is similar to the Company’s 2003 Stock Option and Appreciation Rights Plan, except that options issued under the HGP Plan survive termination of employment.

During the second quarter of 2012, the Company made the following option grants:

							Black-Scholes Option Pricing Inputs
Grant date	Number of options		Recipient		Fair value		Exercise price		Volatility			Interest rate			Expected term		Expected dividend yield
February 13, 2012 1		100,000		Employee	$	1.4600	$	2.40		133	%		1.25	%		4.75 years		Zero
April 2, 2012		50,000		Independent directors	$	1.7261	$	2.00		135	%		1.47	%		4.75 years		Zero

¹ The terms of the grant were finalized in the second quarter, effective as of the employment date.

During the first quarter of 2012, as detailed in the Company’s Report on Form 10-Q for the quarter ended March 31, 2012, as filed with the SEC, the Company issued a total of 890,000 options to officers and employees. This included the 625,000 options that were granted to the former owners of Heritage Global Partners, as part of the Company’s acquisition of Heritage Global Partners.

The following summarizes the changes in common stock options for the six months ended June 30, 2012:

	Options			Weighted Average Exercise Price
Outstanding at December 31, 2011		3,141,198		$	1.65
Granted		1,040,000		$	2.04
Exercised		(21,750	)	$	0.63
Forfeited		(250,000	)	$	1.83
Expired		(1,250	)	$	1.40
Outstanding at June 30, 2012		3,908,198		$	1.75
Options exercisable at June 30, 2012		1,283,198		$	1.37

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Acquisition of Heritage Global Partners, Inc. (Tables)

6 Months Ended

Jun. 30, 2012

Business Combinations [Abstract]

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

The following table summarizes the consideration paid for Heritage Global Partners and the amounts of the assets acquired and liabilities assumed recognized at the acquisition date:

At February 29, 2012
	$
Consideration paid
Cash		3,000
Promissory notes, net of receivable from owners 1		849
Equity instruments:
1,000,000 CRBCI common shares 2		2,100
625,000 options to purchase CRBCI common shares at $2.00 per share 3		1,131
Fair value of total consideration		7,080
Acquisition related costs (included in selling, general, and administrative expenses in CRBCI’s condensed consolidated interim statement of operations for the six months ended June 30, 2012)		81
Recognized amounts of identifiable assets acquired and liabilities assumed
Cash		656
Accounts receivable (net of $0 allowance for doubtful accounts)		878
Deposits		20
Prepaid expenses		35
Property, plant and equipment		37
Accounts payable and accrued liabilities		(1,213	)
Client liability account		(1,424	)
Short-term note payable		(100	)
Total identifiable net liabilities assumed		(1,111	)
Goodwill		8,191
		7,080

¹ The notes (the “Promissory Notes”) are due in full on August 31, 2012, and bear interest at the U.S. Prime Rate.

² Determined using the closing price of the Company’s common shares on February 29, 2012

³ Determined using the Black-Scholes Option Pricing Model. Inputs to the model included an expected volatility rate of 133%, a risk-free interest rate of 1.25%, an expected life of 4.75 years, and an expected dividend yield of $nil.

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Segment Reporting

6 Months Ended

Jun. 30, 2012

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

Note 12 – Segment Reporting

From 2005 until the second quarter of 2009, 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 six months ending June 30, 2012 and 2011, 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. and Canada. The table below presents information about the Asset Liquidation segment of the Company as of and for the three and six months ended June 30, 2012 and 2011:

	For the three months ended June 30,
	2012			2011
	Asset Liquidation			Asset Liquidation
Revenues from external customers	$	3,831		$	11,735
Earnings from equity accounted asset liquidation investments		158			157
Other income (expense)		(318	)		14
Interest expense		48			52
Depreciation and amortization		8			—
Segment income (loss)		(160	)		4,816
Investment in equity accounted asset liquidation investees		1,677			1,471
Segment assets		20,472			5,869

	For the six months ended June 30,
	2012			2011
	Asset Liquidation			Asset Liquidation
Revenues from external customers	$	6,865		$	12,469
Earnings from equity accounted asset liquidation investments		1,227			1,717
Other income (expense)		(308	)		14
Interest expense		104			136
Depreciation and amortization		11			—
Segment income		1,065			4,454

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

	Three months ended June 30, 2012			Three months ended June 30, 2011			Six months ended June 30, 2012			Six months ended June 30, 2011
Total other income (expense) and earnings from equity accounted investments for reportable segments	$	(160	)	$	171		$	919		$	1,731
Unallocated other income (loss) and earnings (loss) from equity investments from corporate accounts		(6	)		35			(53	)		50
	$	(166	)	$	206		$	866		$	1,781
Total interest expense for reportable segments	$	48		$	52		$	104		$	136
Unallocated interest expense from related party debt		8			—			11			—
	$	56		$	52		$	115		$	136
Total depreciation and amortization for reportable segments	$	8		$	—		$	11		$	—
Other unallocated depreciation from corporate assets		—			—			—			—
	$	8		$	—		$	11		$	—
Total segment income (loss)	$	(160	)	$	4,816		$	1,065		$	4,454
Other income (loss)		(6	)		35			(53	)		50
Other corporate expenses (primarily corporate level interest, general and administrative expenses)		(542	)		(333	)		(1,017	)		(395	)
Income tax expense (recovery)		(287	)		978			26			380
Net income (loss) from continuing operations	$	(421	)	$	3,540		$	(31	)	$	3,729

	As at June 30, 2012		As at June 30, 2011
Segment assets	$	20,472	$	5,869
Other assets not allocated to segments(1)		35,548		12,253
	$	56,020	$	18,122

(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.

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Debt

6 Months Ended

Jun. 30, 2012

Debt [Abstract]

Debt Disclosure [Text Block]

Note 8 – Debt

The Company’s debt as at June 30, 2012 and December 31, 2011 consisted of the following:

	June 30, 2012		December 31, 2011
Revolving credit facility	$	2,644	$	3,091
Promissory notes payable to related parties		1,011		—
		3,655		3,091
Less current portion		3,655		3,091
Long-term debt, less current portion	$	—	$	—

The revolving credit facility (“Credit Facility”) is provided to Counsel RB by a U.S. bank under the terms and provisions of a certain Loan and Security Agreement dated as of June 2, 2009 and most recently amended as of April 27, 2012 (the “Loan Agreement”). It is utilized to finance the acquisition of eligible property and equipment for purposes of resale. The Credit Facility bears interest at the greater of prime rate + 1.0%, or 4.5%, and the maximum borrowing available under the Credit Facility is US $10,000, subject to Counsel RB maintaining a 1:2 ratio of capital funds, i.e. the sum of Counsel RB’s tangible net worth plus subordinated indebtedness, as defined in the Loan Agreement, to the outstanding balance. The amount of any advance is determined based upon the value of the eligible assets being acquired, which serve as collateral. At June 30, 2012, $2,950 of such assets served as collateral for the loan (December 31, 2011 - $4,303). Effective March 1, 2011, a monthly fee is payable with respect to unused borrowing (“Unused Line Fee”). The Unused Line Fee is equal to the product of 0.50% per annum multiplied by the difference between $10,000 and the average loan amount outstanding during the month. The Credit Facility also contains other terms and provisions customary for agreements of this nature, and has been guaranteed by both the Company and Counsel. At June 30, 2012 and December 31, 2011 the Company was in compliance with all covenants of the Credit Facility.

The promissory notes payable to related parties (“Promissory Notes”) are related to the acquisition of Heritage Global Partners and are payable to the former owners of Heritage Global Partners. The Promissory Notes bear interest at the prime rate and are due in full, plus accrued interest, on August 31, 2012 (the “Maturity Date”). Under the terms of the loan agreement, the Company may make prepayments at any time prior to the Maturity Date without premium or penalty. During the six months ended June 30, 2012, interest of $11 was accrued, and no prepayments were made.

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Composition of Certain Financial Statement Items

6 Months Ended

Jun. 30, 2012

Composition Of Certain Financial Statements Items [Abstract]

Composition of Certain Financial Statements Items [Text Block]

Note 6 – Composition of Certain Financial Statement Items

Amounts receivable

The Company’s amounts receivable are primarily related to the operations of its subsidiaries Counsel RB, Equity Partners, and Heritage Global Partners. They consist of three major categories: receivables from Joint Venture partners, receivables from asset sales, and fees and retainers relating to the businesses of Equity Partners and Heritage Global Partners. To date, the Company has not experienced any significant collectability issues with respect to either the receivables from Joint Venture partners or the receivables from asset sales. Given this experience, together with the ongoing business relationships between the Company and its partners, the Company has not yet been required to develop a policy for formal credit quality assessment. The Equity Partners and Heritage Global Partners businesses have similarly not required formal credit quality assessments. As the Company’s asset liquidation business continues to develop, more comprehensive credit assessments may be required.

To date the Company has recorded only one interest-bearing note receivable, in the amount of $225. This note was acquired when Counsel RB commenced operations in the second quarter of 2009. An allowance of $146 was recorded in the fourth quarter of 2010, and a further allowance of $40 was recorded in the second quarter of 2011. The remaining balance of $39 was collected during the second quarter of 2012, and therefore at June 30, 2012, the Company had no interest-bearing notes receivable.

In the first quarter of 2011, the Company acquired a lease receivable in the amount of $248, which is being reduced by monthly payments of $12 that began in April 2011. The lease receivable began accruing interest beginning April 1, 2011.

At June 30, 2012 the Company had no investment in non-interest bearing financing receivables that are past due.

During the first six months of 2012, there were no changes in the Company’s accounting policies for financing receivables, and therefore no related change in the current-period provision for credit losses. During the same period, there were no purchases, sales or reclassifications of financing receivables. There were no troubled debt restructurings during the first six months of 2012.

Amounts receivable from third parties consisted of the following at June 30, 2012 and December 31, 2011:

	June 30,  2012		December 31,  2011
Accounts receivable (net of allowance for doubtful accounts of $0; 2011 - $0)	$	2,451	$	730
Notes receivable (net of allowance for doubtful accounts of $0; 2011 - $186)		—		39
Lease receivable		80		148
	$	2,531	$	917

Accounts payable and accrued liabilities

Accounts payable and accrued liabilities consisted of the following at June 30, 2012 and December 31, 2011:

	June 30, 2012		December 31, 2011
Due to Heritage Global Partners clients	$	3,786	$	—
Due to Joint Venture partners		572		89
Sales and other taxes		735		66
Remuneration and benefits		140		402
Asset liquidation expenses		31		—
Regulatory and legal fees		150		49
Accounting, auditing and tax consulting		81		169
Patent licensing and maintenance		4		8
Other		327		72
Total accounts payable and accrued liabilities	$	5,826	$	855

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Asset Liquidation Investments and Other Investments

6 Months Ended

Jun. 30, 2012

Equity Method Investments and Joint Ventures [Abstract]

Equity Method Investments Disclosure [Text Block]

Note 7 – Asset Liquidation Investments and Other Investments

Summarized financial information – Equity accounted asset liquidation investments

The table below details the results of operations attributable to CRBCI from the Joint Ventures in which it was invested.

	Six months ended June 30,
	2012		2011
Gross revenues	$	5,026	$	2,023
Gross profit	$	1,237	$	1,620
Income from continuing operations	$	1,227	$	1,717
Net income	$	1,227	$	1,717

The Company’s other investments as of June 30, 2012 and December 31, 2011 consisted of the following:

	June 30, 2012		December 31, 2011
Knight’s Bridge Capital Partners Internet Fund No. 1 GP LLC	$	19	$	19
Polaroid		2,583		2,753
Total investments	$	2,602	$	2,772

The Company accounts for its investments under the equity method.

Knight’s Bridge Capital Partners Internet Fund No. 1 GP LLC (“Knight’s Bridge GP”)

In December 2007 the Company acquired a one-third interest in Knight’s Bridge Capital Partners Internet Fund No. 1 GP LLC (“Knight’s Bridge GP”), a private company, for a purchase price of $20. The additional two-thirds interest in Knight’s Bridge GP was acquired by parties affiliated with Counsel. 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. Since the Company’s initial investment, the Company’s share of earnings has been almost exactly offset by cash distributions, and at June 30, 2012 the Company’s net investment was $19. Based on the Company’s analysis of Knight’s Bridge GP’s financial statements and projections as at June 30, 2012, the Company concluded that there has been no impairment in the fair value of its investment, and that its book value is the best estimate of its fair value.

Polaroid

In the second quarter of 2009, the Company indirectly acquired an approximate 5% interest in Polaroid Corporation, pursuant to a Chapter 11 reorganization in a U.S. bankruptcy court. The investment was made as part of a joint venture investor group (the “JV Group”) that includes both related and non-related parties. The JV Group formed two operating companies (collectively, “Polaroid”) to hold the acquired Polaroid assets. The Company, the related parties and two of the unrelated parties formed KPL, LLC (“KPL” or the “LLC”) to pool their individual investments in Polaroid. The pooled investments totalled approximately $19,000 of the aggregate purchase price of approximately $55,000. KPL is managed by a related party, Knight’s Bridge Capital Partners Management, L.P. (the “Management LP”), which acts as the General Partner of the LLC. The Management LP is a wholly-owned subsidiary of the Company’s majority shareholder, Counsel Corporation (together with its subsidiaries, “Counsel”).

The Company’s investment in the LLC has two components:

· CRBCI acquired Counsel’s rights and obligations as an indirect limited partner (but not Counsel’s limited partnership interest) in Knight’s Bridge Capital Partners Fund I, L.P. (“Knight’s Bridge Fund”), a related party, with respect to its investment in Class A units. The investment is held by Knight’s Bridge Fund in the name of a Canadian limited partnership (the “LP”) comprised of Counsel (95.24%) and several parties related to Counsel. CRBCI is also responsible for Counsel’s share of the management fees, which are approximately $40 per year. The economic interest entitles CRBCI to an 8% per annum preferred return. Any profits generated in addition to the preferred return, subsequent to the return of invested capital, are subject to the Management LP’s 20% carried interest.

· CRBCI directly acquired Class D units. These units are subject to a 2% annual management fee, payable to the General Partner, of approximately $11 per year. The units have a 10% per annum preferred return. Any profits generated in addition to the preferred return, subsequent to the return of invested capital, are subject to the Management LP’s 20% carried interest.

The components of the Company’s investment in Polaroid at June 30, 2012 are detailed below:

Unit type	Capital invested		Equity in earnings		Capital returned			Net investment
Class A	$	2,427	$	185	$	(544	)	$	2,068
Class D		606		42		(133	)		515
Total	$	3,033	$	227	$	(677	)	$	2,583

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Patent Participation Fee

6 Months Ended

Jun. 30, 2012

Patent Participation Fee [Abstract]

Patent Participation Fee [TextBlock]

Note 9 – Patent Participation Fee

In 2003, CRBCI acquired a VoIP patent from a third party. Consideration provided was $100 plus a 35% residual payable to the third party relating to the net proceeds from future licensing and/or enforcement actions from the CRBCI VoIP patent portfolio. Net proceeds are defined as amounts collected from third parties net of the direct costs associated with putting the licensing or enforcement in place and related collection costs.

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Stock-based Compensation (Details) (USD $)	0 Months Ended	6 Months Ended	3 Months Ended
	Feb. 29, 2012	Jun. 30, 2012	Jun. 30, 2012 Stock Compensation Plan [Member] Employee [Member]		Jun. 30, 2012 Stock Compensation Plan [Member] Independent Directors [Member]
Grant date			Feb. 13, 2012	[1]	Apr. 02, 2012
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross		1,040,000	100,000		50,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value			$ 1.4600		$ 1.7261
Exercise Price	$ 2.00	$ 2.04	$ 2.40		$ 2.00
Volatility	133.00%		133.00%		135.00%
Interest Rate	1.25%		1.25%		1.47%
Expected Term	4 years 9 months		4 years 9 months		4 years 9 months
Expected dividend yield	0.00%		0.00%		0.00%

[1] The terms of the grant were finalized in the second quarter, effective as of the employment date.

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Related Party Transactions (Details 1) (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Amount charged on Leased premises	$ 119	$ 74
White Plains, NY [Member]
Amount charged on Leased premises	63	61
Los Angeles, CA [Member]
Amount charged on Leased premises	13	13
Foster City, CA [Member]
Amount charged on Leased premises	$ 43	$ 0

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Subsequent Events

6 Months Ended

Jun. 30, 2012

Subsequent Events [Abstract]

Subsequent Events [Text Block]

Note 14 – Subsequent Events

The Company has evaluated events subsequent to June 30, 2012 for disclosure. The only material event requiring disclosure in these unaudited condensed consolidated interim financial statements is the entering into of intellectual property licensing agreements with each of the Company’s Co-CEOs on August 10, 2012. Pursuant to the agreements, in exchange for exclusive, worldwide, perpetual, royalty-free and non-revocable licenses to use their names in connection with the Company and its affiliates and any products and services of the Company and its affiliates, each Co-CEO was issued 400,000 shares of common stock of the Company. The shares were valued at $1.31672 per share.

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Composition of Certain Financial Statement Items (Tables)

6 Months Ended

Jun. 30, 2012

Composition Of Certain Financial Statements Items [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]

Amounts receivable from third parties consisted of the following at June 30, 2012 and December 31, 2011:

	June 30,  2012		December 31,  2011
Accounts receivable (net of allowance for doubtful accounts of $0; 2011 - $0)	$	2,451	$	730
Notes receivable (net of allowance for doubtful accounts of $0; 2011 - $186)		—		39
Lease receivable		80		148
	$	2,531	$	917

Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]

Accounts payable and accrued liabilities consisted of the following at June 30, 2012 and December 31, 2011:

	June 30, 2012		December 31, 2011
Due to Heritage Global Partners clients	$	3,786	$	—
Due to Joint Venture partners		572		89
Sales and other taxes		735		66
Remuneration and benefits		140		402
Asset liquidation expenses		31		—
Regulatory and legal fees		150		49
Accounting, auditing and tax consulting		81		169
Patent licensing and maintenance		4		8
Other		327		72
Total accounts payable and accrued liabilities	$	5,826	$	855

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Income Taxes (Details Textual) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2012 Unrestricted [Member]	Jun. 30, 2012 Restricted [Member]	Dec. 31, 2008 Per Year Until 2008 [Member] Internal Revenue Service (IRS) [Member]	Dec. 31, 2008 Per Year After 2008 [Member] Internal Revenue Service (IRS) [Member]
Income Tax Expense			$ 46
Income Tax Recovery	28
Net Deferred Income Tax Recovery			20
Deferred Income Tax Recovery	259
Deferred Tax Assets Total	28,803		28,803
Operating loss carryforwards				54,500	28,200	2,500
Operating Loss Carryforwards, Expiration Dates			between 2024 and 2029
Operating Loss Carryforwards, Limitations on Use		Restrictions in net operating loss carryforwards occurred in 2001 as a result of the acquisition of the Company by Counsel. Further restrictions may have occurred as a result of subsequent changes in the share ownership and capital structure of the Company and Counsel and disposition of business interests by the Company. Pursuant to Section 382 of the Internal Revenue Code, the annual usage of the Company''s net operating loss carryforwards was limited to approximately $2,500 per annum until 2008 and $1,700 per annum thereafter
Operating loss carryforwards, thereafter							$ 1,700

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Composition of Certain Financial Statement Items (Details Textual) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2010	Jun. 30, 2009	Jun. 30, 2012	Dec. 31, 2011
Allowance for doubtful accounts (in thousands of dollars)					$ 0	$ 186
Payments to Acquire Notes Receivable				225
Provision for Loan, Lease, and Other Losses	40		146
Financing Receivable, Recorded Investment, Nonaccrual Status	39					39
Payments to Acquire Lease Receivables		$ 248
Acquired Lease Receivables Description	the Company acquired a lease receivable in the amount of $248, which is being reduced by monthly payments of $12 that began in April 2011.

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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME [Parenthetical] (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Tax on earnings (loss) of other equity accounted investments	$ 0	$ 0	$ 0	$ 0

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Acquisition of Heritage Global Partners, Inc.

6 Months Ended

Jun. 30, 2012

Business Combinations [Abstract]

Business Combination Disclosure [Text Block]

Note 3 – Acquisition of Heritage Global Partners, Inc.

On February 29, 2012 the Company acquired all of the issued and outstanding capital stock in Heritage Global Partners, Inc. (“Heritage Global Partners”), a full-service, global auction and asset advisory firm. The acquisition of Heritage Global Partners is consistent with CRBCI’s strategy to expand the services provided by its asset liquidation business. In connection with the acquisition, CRBCI entered into employment agreements with the previous owners and employees of Heritage Global Partners.

The following table summarizes the consideration paid for Heritage Global Partners and the amounts of the assets acquired and liabilities assumed recognized at the acquisition date:

At February 29, 2012
	$
Consideration paid
Cash		3,000
Promissory notes, net of receivable from owners 1		849
Equity instruments:
1,000,000 CRBCI common shares 2		2,100
625,000 options to purchase CRBCI common shares at $2.00 per share 3		1,131
Fair value of total consideration		7,080
Acquisition related costs (included in selling, general, and administrative expenses in CRBCI’s condensed consolidated interim statement of operations for the six months ended June 30, 2012)		81
Recognized amounts of identifiable assets acquired and liabilities assumed
Cash		656
Accounts receivable (net of $0 allowance for doubtful accounts)		878
Deposits		20
Prepaid expenses		35
Property, plant and equipment		37
Accounts payable and accrued liabilities		(1,213	)
Client liability account		(1,424	)
Short-term note payable		(100	)
Total identifiable net liabilities assumed		(1,111	)
Goodwill		8,191
		7,080

¹ The notes (the “Promissory Notes”) are due in full on August 31, 2012, and bear interest at the U.S. Prime Rate.

² Determined using the closing price of the Company’s common shares on February 29, 2012

³ Determined using the Black-Scholes Option Pricing Model. Inputs to the model included an expected volatility rate of 133%, a risk-free interest rate of 1.25%, an expected life of 4.75 years, and an expected dividend yield of $nil.

The fair value of the accounts receivable is the value as reported in the above table.

The allocation of the purchase price, as disclosed above, is provisional pending completion of the audit of the opening balance sheet and the final allocation of the assets acquired and liabilities assumed. This will be completed within one year of the acquisition date.

The only transactions recognized separately from the acquisition were the acquisition costs noted in the above table.

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Asset Liquidation Investments and Other Investments(Tables)

6 Months Ended

Jun. 30, 2012

Equity Method Investments and Joint Ventures [Abstract]

Schedule Of Results Of Operations For Joint Venture Activities Disclosure [Table Text Block]

The table below details the results of operations attributable to CRBCI from the Joint Ventures in which it was invested.

	Six months ended June 30,
	2012		2011
Gross revenues	$	5,026	$	2,023
Gross profit	$	1,237	$	1,620
Income from continuing operations	$	1,227	$	1,717
Net income	$	1,227	$	1,717

Schedule of Equity Method Investments [Table Text Block]

The Company’s other investments as of June 30, 2012 and December 31, 2011 consisted of the following:

	June 30, 2012		December 31, 2011
Knight’s Bridge Capital Partners Internet Fund No. 1 GP LLC	$	19	$	19
Polaroid		2,583		2,753
Total investments	$	2,602	$	2,772

Components Of Equity Method Investments [Table Text Block]

The components of the Company’s investment in Polaroid at June 30, 2012 are detailed below:

Unit type	Capital invested		Equity in earnings		Capital returned			Net investment
Class A	$	2,427	$	185	$	(544	)	$	2,068
Class D		606		42		(133	)		515
Total	$	3,033	$	227	$	(677	)	$	2,583

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Earnings Per Share (Details Textual)	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Dec. 31, 2011
Convertible Preferred Stock, Shares Issuable upon Conversion	the Company's Class N preferred shares, each of which is convertible to 40 common shares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	3,908,198	3,142,031	3,141,198
Antidilutive Securities Excluded From Computation Of Earnings Per Share, Amount		2,727,031

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Commitments and Contingencies

6 Months Ended

Jun. 30, 2012

Commitments and Contingencies [Abstract]

Commitments and Contingencies Disclosure [Text Block]

Note 13 – Commitments and Contingencies

At June 30, 2012, CRBCI has no commitments other than the Unused Line Fee on its third party debt and the leases on its offices in New York and California. The lease on the New York office expires on December 31, 2015. The leases on the California offices expire on October 11, 2012, December 31, 2012 and September 30, 2013. The annual lease obligations are as shown below:

2012	$	158
2013	$	154
2014	$	141
2015	$	148

In the normal course of its business, CRBCI may be subject to contingent liability with respect to assets sold either directly or through Joint Ventures. At June 30, 2012 CRBCI does not expect any of these liabilities, individually or in the aggregate, to have a material adverse effect on its assets or results of operations.

The Company is involved in various other legal matters arising out of its operations in the normal course of business, none of which are expected, individually or in the aggregate, to have a material adverse effect on the Company.