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Real Estate Inventory
3 Months Ended
Mar. 31, 2017
Real Estate [Abstract]  
Real Estate Inventory

Note 3 – Real Estate Inventory

In the first quarter of 2016 the Company entered into a purchase and sale agreement with International Auto Processing Inc. (“IAP”) to sell the Company’s real estate inventory for $4.1 million.  IAP subsequently assigned the purchase and sale agreement to an affiliate, International Investments and Infrastructure, LLC (“III”).

Concurrently, the Company entered into a five year lease agreement with an affiliate of IAP to lease the building during the escrow period, which would terminate at the close of escrow.  During the three months ended March 31, 2016, the Company earned rental income of $0.1 million, which is included within services revenue in the condensed consolidated statement of operations.  No rental income was earned during the three months ended March 31, 2017.

In the third quarter of 2016, the Company completed the sale of its real estate inventory and, in accordance with the purchase and sale agreement, terminated the previously existing lease agreement between the Company and an affiliate of III.