Segment Reporting

9 Months Ended

Sep. 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 nine months ending September 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. To date the Company’s business has been conducted principally in the U.S. and Canada, but the establishment of offices in Latin America and Europe in the third quarter of 2012 will result in more international operations in future quarters. 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, 2012 and 2011:

	For the three months ended September 30,
	2012			2011
	Asset Liquidation			Asset Liquidation
Revenues from external customers	$	3,052		$	2,149
Earnings from equity accounted asset liquidation investments		222			478
Other income		7			1
Interest expense		70			45
Depreciation and amortization		272			1
Segment income (loss)		(311	)		828
Investment in equity accounted asset liquidation investees		1,773			461
Segment assets		27,349			7,384

	For the nine months ended September 30,
	2012			2011
	Asset Liquidation			Asset Liquidation
Revenues from external customers	$	9,917		$	14,618
Earnings from equity accounted asset liquidation investments		1,449			2,195
Other income (expense)		(301	)		15
Interest expense		174			181
Depreciation and amortization		283			1
Segment income		755			5,282

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

	Three months ended September 30, 2012			Three months ended September 30, 2011			Nine months ended September 30, 2012			Nine months ended September 30, 2011
Total other income and earnings from equity accounted investments for reportable segments	$	229		$	479		$	1,148		$	2,210
Unallocated other income (loss) and earnings (loss) from equity investments from corporate accounts		(11	)		(28	)		(63	)		22
	$	218		$	451		$	1,085		$	2,232
Total interest expense for reportable segments	$	70		$	45		$	174		$	181
Unallocated interest expense from third party debt		1			—			1			—
Unallocated interest expense (credit) from related party debt		(11	)		—			—			—
	$	60		$	45		$	175		$	181
Total depreciation and amortization for reportable segments	$	272		$	1		$	283		$	1
Other unallocated depreciation and amortization from corporate assets		—			—			—			—
	$	272		$	1		$	283		$	1
Total segment income (loss)	$	(311	)	$	828		$	755		$	5,282
Other income (loss)		(11	)		(28	)		(63	)		22
Other corporate expenses (primarily corporate level interest, general and administrative expenses)		(1,316	)		(356	)		(2,335	)		(751	)
Income tax expense (recovery)		(638	)		(416	)		(612	)		(36	)
Net income (loss) from continuing operations	$	(1,000	)	$	860		$	(1,031	)	$	4,589

	As at September 30, 2012		As at September 30, 2011
Segment assets	$	27,349	$	7,384
Other assets not allocated to segments(1)		33,583		12,706
	$	60,932	$	20,090

(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.