Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Sep. 30, 2018 | Dec. 20, 2018 | Mar. 31, 2018 | |
Document Information [Line Items] | |||
Entity Registrant Name | ASTA FUNDING INC | ||
Entity Central Index Key | 1,001,258 | ||
Trading Symbol | asfi | ||
Current Fiscal Year End Date | --09-30 | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | true | ||
Entity Common Stock, Shares Outstanding (in shares) | 6,685,415 | ||
Entity Public Float | $ 9,641,265 | ||
Document Type | 10-K | ||
Document Period End Date | Sep. 30, 2018 | ||
Document Fiscal Year Focus | 2,018 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Entity Shell Company | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Sep. 30, 2018 | Sep. 30, 2017 |
ASSETS | ||
Cash and cash equivalents | $ 6,284,000 | $ 17,591,000 |
Available-for-sale Securities, Total | 38,054,000 | 5,511,000 |
Consumer receivables acquired for liquidation (at cost) | 3,749,000 | 6,841,000 |
Investment in personal injury claims, net | 10,745,000 | 3,704,000 |
Due from third party collection agencies and attorneys | 755,000 | 819,000 |
Prepaid and income taxes receivable | 5,387,000 | 9,090,000 |
Furniture and equipment (net of accumulated depreciation of $1,821,000 at September 30, 2018 and $1,759,000 at September 30, 2017) | 100,000 | 124,000 |
Equity method investment | 236,000 | 50,474,000 |
Note receivable | 4,313,000 | |
Settlement receivable | 3,339,000 | |
Deferred income taxes | 10,940,000 | 12,696,000 |
Goodwill | 1,410,000 | 1,410,000 |
Other assets | 1,003,000 | 1,043,000 |
Assets related to discontinued operations | 92,235,000 | |
Total assets | 86,315,000 | 201,538,000 |
LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
Other liabilities | 2,281,000 | 4,980,000 |
Liabilities related to discontinued operations | 81,751,000 | |
Total liabilities | 2,281,000 | 86,731,000 |
Commitments and contingencies | ||
STOCKHOLDERS’ EQUITY | ||
Preferred stock | ||
Common stock, $.01 par value, authorized 30,000,000 shares; issued 13,459,708 at September 30, 2018 and 13,398,108 at September 30, 2017; and outstanding 6,685,415 at September 30, 2018 and 6,623,815 at September 30, 2017 | 135,000 | 134,000 |
Additional paid-in capital | 68,551,000 | 68,047,000 |
Retained earnings | 82,441,000 | 113,736,000 |
Accumulated other comprehensive income, net of income taxes | 35,000 | 18,000 |
Treasury stock (at cost), 6,774,293 shares at September 30, 2018 and at September 30, 2017 | (67,128,000) | (67,128,000) |
Total stockholders’ equity | 84,034,000 | 114,807,000 |
Total liabilities and stockholders’ equity | 86,315,000 | 201,538,000 |
Series A Junior Participating Preferred Stock [Member] | ||
STOCKHOLDERS’ EQUITY | ||
Preferred stock |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) | Sep. 30, 2018 | Sep. 30, 2017 |
Furniture and equipment, accumulated depreciation | $ 1,821,000 | $ 1,759,000 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, authorized (in shares) | 5,000,000 | 5,000,000 |
Preferred stock, issued (in shares) | 0 | 0 |
Preferred stock, outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, authorized (in shares) | 30,000,000 | 30,000,000 |
Common stock, issued (in shares) | 13,459,708 | 13,398,108 |
Common stock, outstanding (in shares) | 6,685,415 | 6,623,815 |
Treasury stock, shares (in shares) | 6,774,293 | 6,774,293 |
Series A Junior Participating Preferred Stock [Member] | ||
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, authorized (in shares) | 30,000 | 30,000 |
Preferred stock, issued (in shares) | 0 | 0 |
Preferred stock, outstanding (in shares) | 0 | 0 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) | 12 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Revenues: | ||
Finance income, net | $ 15,863,000 | $ 15,920,000 |
Personal injury claims income | 1,084,000 | 434,000 |
Disability fee income | 4,598,000 | 5,085,000 |
Total revenues | 21,545,000 | 21,439,000 |
Gain on settlements | 4,044,000 | |
Other income (expense) (includes $0 and ($1,011,000) during the years ended September 30, 2018 and 2017, respectively, of accumulated other comprehensive income reclassifications for realized net losses on securities) | 479,000 | (94,000) |
26,068,000 | 21,345,000 | |
Expenses: | ||
General and administrative expenses | 15,429,000 | 31,900,000 |
Loss on acquisition of minority interest | 1,420,000 | |
Interest expense | 20,000 | 240,000 |
Impairments of consumer receivables acquired for liquidation | 310,000 | 1,129,000 |
Earnings from equity method investment | (750,000) | (4,619,000) |
16,429,000 | 28,650,000 | |
Income (loss) before income tax from continuing operations | 9,639,000 | (7,305,000) |
Income tax expense (includes tax (benefit) expense of $0 and $404,000 during the years ended September 30, 2018 and 2017, respectively, of accumulated other comprehensive income reclassifications for realized net (losses) gains on available for sales securities) | 5,502,000 | 1,077,000 |
Income (loss) from continuing operations | 4,137,000 | (8,382,000) |
Loss from discontinued operations, net of income taxes | (80,000) | (4,620,000) |
Net income (loss) | $ 4,057,000 | $ (13,002,000) |
Net income (loss) per basic shares: | ||
Basic earnings (loss) per common share from continuing operations (in dollars per share) | $ 0.62 | $ (0.97) |
Basic loss per common share from discontinued operations (in dollars per share) | (0.01) | (0.53) |
(in dollars per share) | 0.61 | (1.50) |
Net income (loss) per diluted shares: | ||
Diluted earnings (loss) per common share from continuing operations (in dollars per share) | 0.62 | (0.97) |
Diluted loss per common share from discontinuing operations (in dollars per share) | (0.01) | (0.53) |
(in dollars per share) | $ 0.61 | $ (1.50) |
Weighted average number of common shares outstanding: | ||
Basic (in shares) | 6,662,600 | 8,692,668 |
Diluted (in shares) | 6,664,841 | 8,692,668 |
Consolidated Statements of Op_2
Consolidated Statements of Operations (Parentheticals) - USD ($) | 12 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Reclassification for unrealized net gain (loss) on available for sale securities | $ 0 | $ (1.011) |
Interest tax (benefit) expense | $ 0 | $ 404,000 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) - USD ($) | 12 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Comprehensive income (loss) is as follows: | ||
Net income (loss) | $ 4,057,000 | $ (13,002,000) |
Net unrealized securities loss, net of tax benefit of $9,000 and $8,000 during the years ended September 30, 2018 and 2017 respectively. | (17,000) | (10,000) |
Reclassification adjustments for securities sold, net of tax benefit of $0 and $404,000, during the years ended September 30, 2018 and 2017 respectively. | (607,000) | |
Foreign currency translation, net of tax (expense) benefits of ($17,000), and $112,000, during the years ended September 30, 2018 and 2017 respectively. | 34,000 | (168,000) |
Other comprehensive income (loss) | 17,000 | (785,000) |
Total comprehensive income (loss) | $ 4,074,000 | $ (13,787,000) |
Consolidated Statements of Co_2
Consolidated Statements of Comprehensive Income (Loss) (Parentheticals) - USD ($) | 12 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Unrealized gain (loss) on marketable securities, tax | $ 9,000 | $ 8,000 |
Reclassification adjustments for securities, tax (expense) benefit | 0 | 404,000 |
Foreign currency translation, tax benefit (expense) | $ (17,000) | $ 112,000 |
Consolidate Statements of Stock
Consolidate Statements of Stockholders' Equity - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Treasury Stock [Member] | Total |
Balance (in shares) at Sep. 30, 2016 | 13,336,508 | |||||
Balance at Sep. 30, 2016 | $ 133,000 | $ 67,034,000 | $ 126,738,000 | $ 803,000 | $ (12,925,000) | $ 181,783,000 |
Stock based compensation expense | 58,000 | 58,000 | ||||
Net loss | (13,002,000) | (13,002,000) | ||||
Amount reclassified from other comprehensive loss | (607,000) | (607,000) | ||||
Unrealized loss on marketable securities, net | (10,000) | (10,000) | ||||
Purchase of treasury stock | (54,203,000) | (54,203,000) | ||||
Foreign currency translation, net of tax (expense) benefits of ($17,000), and $112,000, during the years ended September 30, 2018 and 2017 respectively. | (168,000) | (168,000) | ||||
Forgiveness of debt | 552,000 | 552,000 | ||||
Issuance of unrestricted stock (in shares) | 61,600 | |||||
Issuance of unrestricted stock | $ 1,000 | 403,000 | $ 404,000 | |||
Exercise of options (in shares) | 0 | |||||
Net income (loss) | $ (13,002,000) | |||||
Balance (in shares) at Sep. 30, 2017 | 13,398,108 | |||||
Balance at Sep. 30, 2017 | $ 134,000 | 68,047,000 | 113,736,000 | 18,000 | (67,128,000) | 114,807,000 |
Stock based compensation expense | 106,000 | 106,000 | ||||
Amount reclassified from other comprehensive loss | ||||||
Unrealized loss on marketable securities, net | (17,000) | (17,000) | ||||
Foreign currency translation, net of tax (expense) benefits of ($17,000), and $112,000, during the years ended September 30, 2018 and 2017 respectively. | 34,000 | $ 34,000 | ||||
Exercise of options (in shares) | 61,600 | 61,600 | ||||
Exercise of options | $ 1,000 | 398,000 | $ 399,000 | |||
Net income (loss) | 4,057,000 | 4,057,000 | ||||
Dividends paid | (35,352,000) | (35,352,000) | ||||
Balance (in shares) at Sep. 30, 2018 | 13,459,708 | |||||
Balance at Sep. 30, 2018 | $ 135,000 | $ 68,551,000 | $ 82,441,000 | $ 35,000 | $ (67,128,000) | $ 84,034,000 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Cash flows from operating activities: | ||
Net income (loss) from continuing operations | $ 4,137,000 | $ (8,382,000) |
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent, Total | (80,000) | (4,620,000) |
Net income (loss) | 4,057,000 | (13,002,000) |
Adjustments to reconcile net income to net cash used in operating activities: | ||
Depreciation and amortization | 62,000 | 97,000 |
Deferred income taxes | 1,765,000 | 2,619,000 |
Impairments of consumer receivables acquired for liquidation | 310,000 | 1,129,000 |
Stock based compensation | 106,000 | 101,000 |
Loss on sale of available-for-sale securities | 1,011,000 | |
Provision for bad debts – personal injury claims | 499,000 | |
Loss on other investment | 3,590,000 | |
Forgiveness of debt | 552,000 | |
Settlement Receivable | (3,884,000) | |
Earnings from equity method investment | (750,000) | (4,619,000) |
Changes in: | ||
Prepaid and income taxes receivable | 3,703,000 | (8,376,000) |
Due from third party collection agencies and attorneys | 54,000 | 228,000 |
Other assets | 40,000 | 5,550,000 |
Other liabilities | (2,665,000) | 825,000 |
Changes in net assets related to discontinued operations | 710,000 | (1,568,000) |
Net cash provided by (used in) operating activities | 4,007,000 | (11,863,000) |
Cash flows from investing activities: | ||
Purchase of consumer receivables acquired for liquidation | (2,214,000) | |
Principal collected on consumer receivables acquired for liquidation | 2,117,000 | 7,624,000 |
Principal collected on consumer receivable accounts represented by account sales | 3,000 | 197,000 |
Purchase of available-for-sale securities | (32,569,000) | (13,193,000) |
Proceeds from sales of available-for-sale securities | 62,406,000 | |
Purchase of non-controlling interest | (1,800,000) | |
Proceeds from sale of CBC | 4,491,000 | |
Proceeds from notes receivable | 1,437,000 | |
Proceeds from settlements | 1,116,000 | |
Acquisition of personal injury claims portfolios | (14,571,000) | |
Investments in personal injury claims - advances | (60,000) | (4,369,000) |
Investments in personal injury claims - receipts | 7,091,000 | 665,000 |
Change in equity method investment | 52,788,000 | 2,727,000 |
Capital expenditures | (38,000) | (25,000) |
Change in investing activities related to discontinued operations | (1,538,000) | 1,793,000 |
Net cash provided by investing activities | 18,467,000 | 55,611,000 |
Cash flows from financing activities: | ||
Proceeds from exercise of stock options | 399,000 | |
Purchase of treasury stock | (54,203,000) | |
Dividends paid | (35,352,000) | |
Change in financing activities related to discontinued operations | 1,387,000 | 11,500,000 |
Net cash used in financing activities | (33,566,000) | (42,703,000) |
Foreign currency effect on cash | 101,000 | (155,000) |
Net (decrease) increase in cash and cash equivalents including cash and cash equivalents classified within assets related to discontinued operations | (10,991,000) | 890,000 |
Less: net (decrease) increase in cash and cash equivalents classified within assets related to discontinued operations | (316,000) | 419,000 |
Net (decrease) increase in cash and cash equivalents | (11,307,000) | 1,309,000 |
Cash and cash equivalents at beginning of year | 17,591,000 | 16,282,000 |
Cash and cash equivalents and restricted cash at end of year | 6,284,000 | 17,591,000 |
Supplemental disclosure of cash flow information: | ||
Interest | 20,000 | 149,000 |
Income taxes | 6,200,000 | |
Interest | 824,000 | 3,929,000 |
Note receivable | 5,750,000 | |
Settlement receivable | 3,884,000 | |
Issuance of unrestricted stock | $ 404,000 |
Note 1 - The Company and Its Si
Note 1 - The Company and Its Significant Accounting Policies | 12 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | NOTE 1 - THE COMPANY AND ITS SIGNIFICANT ACCOUNTING POLICIES [1] Asta Funding, Inc. (“Asta”), a Delaware Corporation, together with its wholly owned significant operating subsidiaries Palisades Collection, LLC, Palisades Acquisition XVI, LLC (“Palisades XVI”), Palisades Acquisition XIX, LLC (“Palisades XIX”), Palisades Acquisition XXIII, LLC (“Palisades XXIII”), VATIV Recovery Solutions LLC (“VATIV”), ASFI Pegasus Holdings, LLC (“APH”), Fund Pegasus, LLC (“Fund Pegasus”), GAR Disability Advocates, LLC (“GAR Disability Advocates”), Five Star Veterans Disability, LLC (“Five Star”), EMIRIC, LLC (“EMIRIC”), Simia Capital, LLC (“Simia”), Sylvave, LLC (“Sylvave”) (formerly known as Pegasus Funding, LLC (“Pegasus”)), Practical Funding LLC (“Practical Funding”), and other subsidiaries, which are not For the current year period from October 1, 2017 January 12, 2018, 80% not January 12, 2018 ( 20% 100% We operate principally in the United States in three fourth December 13, 2017. As a result of the sale of CBC all periods presented in the Company's consolidated financial statements account for CBC as a discontinued operation. This determination resulted in the reclassification of the historical assets and liabilities comprising the structured settlement business to assets and liabilities related to discontinued operations in the consolidated balance sheets, and a corresponding adjustment to our consolidated statements of operations to reflect discontinued operations for all periods presented. See Note 2 Consumer receivables This segment is engaged in the business of purchasing, managing for its own account and servicing distressed consumer receivables, charged off receivables. Recently, our effort has been in the international areas (mainly South America), as we have curtailed our active purchasing of consumer receivables in the United States. We acquire these consumer receivables at substantial discounts to their face values, based on the characteristics of the underlying accounts of each portfolio. Personal injury claims This segment is comprised of purchased interests in personal injury claims from claimants who are a party to a personal injury claim. The Company advances to each claimant funds on a non-recourse basis at an agreed upon interest rate, in anticipation of a future settlement. The interest in each claim purchased consists of the right to receive, from such claimant, part of the proceeds or recoveries which such claimant receives by reason of a settlement, judgment or award with respect to such claimant’s claim. The Company historically funded personal injury claims in Simia and Sylvave. The Company formed a new wholly owned subsidiary, Practical Funding on March 16, 2018 not Simia commenced operations in January 2017, January 12, 2018, not [1] Social security disability advocacy This segment consists of advocacy groups representing individuals throughout the United States in their claims for social security disability and supplemental social security income benefits from the Social Security and Veterans Administration. It relies upon Search Engine Optimization (“SEO”) to bring awareness to its intended market. [2] The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries, and are prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) and industry practices. All intercompany accounts have been eliminated in consolidation. [ 3 ] Liquidity: September 30, 2018, $6.3 $38.1 1 no $84 September 30, 2018. We believe that our available cash resources and expected cash inflows from operations will be sufficient to fund operations for the next twelve [4] The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. With respect to income recognition the Company takes into consideration the relative credit quality of the underlying receivables constituting the portfolio acquired, the strategy involved to maximize the collections thereof, the time required to implement the collection strategy as well as other factors to estimate the anticipated cash flows. Actual results could differ from those estimates including management’s estimates of future cash flows and the resultant allocation of collections between principal and interest resulting there from. Downward revisions to estimated cash flows will result in impairments. [5] – Cash , Cash Equivalents and Restricted Cash: The Company considers all highly liquid investments with a maturity of three Cash balances are maintained at various depository institutions and are insured by the Federal Deposit Insurance Corporation (“FDIC”). The Company had cash balances with four $1.1 September 30, 2018. two $1.4 not $0.5 September 30, 2017, not [6] Investments that the Company intends to hold for an indefinite period of time, but not Declines in the fair value of individual available-for-sale securities below their respective costs that are other than temporary will result in write-downs of the individual securities to their fair value. Factors affecting the determination of whether another-than-temporary impairment has occurred include: a downgrading of the security by a rating agency, a significant deterioration in the financial condition of the issuer, or that management would not [7] Goodwill represents the excess of the purchase price over the fair value of the net assets acquired in a business combination, and is accounted for under ASC 350. fourth not not two 1 not no 2 2 $1.4 [8] Income Recognition The Company accounts for certain of its investments in consumer receivables using the guidance of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”), Receivables - Loans and Debt Securities Acquired with Deteriorated Credit Quality (“ASC 310” 310, Under the guidance of ASC 310 30 , not The Company uses the cost recovery method when collections on a particular pool of accounts cannot be reasonably predicted. Under the cost recovery method, no zero The Company accounts for its investments in personal injury claims at an agreed upon interest rate, in anticipation of a future settlement. The Company's interest purchased in personal injury claim advances consists of the right to receive from a claimant part of the proceeds or recoveries which such claimant receives by reason of a settlement, judgment or reward with respect to such claimant’s claim. Open case revenue is estimated, recognized and accrued at a rate based on the expected realization and underwriting guidelines and facts and circumstances for each individual case. These personal injury claims are non-recourse. When a case is closed and the cash is received for the advance provided to a claimant, revenue is recognized based upon the contractually agreed upon interest rate, and, if applicable, adjusted for any changes due to a settled amount and fees charged to the claimant. The Company recognizes revenue for GAR Disability Advocates and Five Star when disability claimants cases close with the social security administration and the applicable fees are collected. Impairments and accretable yield adjustments The Company accounts for its impairments in accordance with ASC 310, 310 310 If collection projections indicate the carrying value will not third In October 2014, $5.0 14% June December December 2015, no not During the fiscal year 2016, $1.0 2017, $3.4 March 31, 2017. [9] s : Investee companies that are not not 20% 50% not When the Company's carrying value in an equity method investee company is reduced to zero, no not not no September 30, 2018 2017. [10] : Management assesses the quality of the personal injury claims portfolio through an analysis of the underlying personal injury fundings on a case by case basis. Cases are reviewed through periodic updates with attorneys handling the cases, as well as with third not [11] Commissions and fees are the contractual commissions earned by third third [12] Furniture, equipment and software are stated at cost, less accumulated depreciation and amortization. Depreciation is provided using the straight-line method over the estimated useful lives of the assets ( 3 7 [13] Deferred federal and state taxes arise from (i) recognition of finance income collected for tax purposes, but not [14] FASB ASC 825, 825” not The Company records its available-for-sale investments at estimated fair value on a recurring basis. The accompanying consolidated financial statements include estimated fair value information regarding its available-for-sale investments as of September 30, 2018, 820, 820” 820 820 Level 1 Level 2 1 not Level 3 no FASB ASC 825, 825” not [15] US GAAP requires the results of operations of a component of an entity that either has been disposed of or is classified as held for sale to be reported as discontinued operations in the consolidated financial statements if the sale or disposition represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results. [16] Basic per share data is determined by dividing net income (loss) by the weighted average shares outstanding during the period. Diluted per share data is computed by dividing net income (loss) by the weighted average shares outstanding, assuming all dilutive potential common shares were issued. The assumed proceeds from the exercise of dilutive options are calculated using the treasury stock method based on the average market price for the period. [17] The Company accounts for stock-based employee compensation under FASB ASC 718, 718” 718 [18] Certain prior period amounts in the accompanying consolidated financial statements have been reclassified to conform to the current year presentation. These reclassifications had no [19] : Most of the Company's operations use their local currency as their functional currency. Financial statements of subsidiaries are translated into U.S. dollars using the exchange rate at each balance sheet date for assets and liabilities and a weighted average exchange rate for each period for revenues, expenses, gains and losses. Translation adjustments for subsidiaries whose local currency is their functional currency are recorded as a component of accumulated other comprehensive income (loss) within equity. Transaction gains and losses resulting from fluctuations in currency exchange rates on transactions denominated in currencies other than the functional currency are recognized as incurred in the accompanying consolidated statements of operations. [ 20 ] Impact of Recently Issued Accounting Standards: In May 2014, 606, December 15, 2017 December 15, 2016, The Company has completed its initial assessment of the new standard, including a detailed review of the Company’s revenue streams to identify potential differences in accounting as a result of the new standard, and selected the modified retrospective method. Based on the Company’s initial assessment, we do not In January 2016, No. 2016 01, December 15, 2017, no In February 2016, 2016 02, 842 12 12 not not January 2018, 2018 01, 842 842. 2018 01 2018 01. December 15, 2019 In March 2016, No. 2016 07, 2016 07 December 15, 2016 not In March 2016, No. 2016 09, December 15, 2016, not In June 2016, 2016 13, 326 December 15, 2019. In August 2016 2016 15, 230 eight December 15, 2017. not In January 2017, No. 2017 01, 825 10 December 15, 2017, not In January 2017, 2017 04 350 2 December 15, 2019, not In March 2017, No. 2017 09, 718 December 15, 2017, not In February 2018, 2018 02, December 22, 2017, 2018 02 October 1, 2019, not In August 2018, No. 2018 13, 820 1 2 3 3 3 December 15, 2019. |
Note 2 - Discontinued Operation
Note 2 - Discontinued Operations | 12 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | NOTE 2 - DISCONTINUED OPERATIONS On December 31, 2013, 80% $5.9 On December 31, 2015, 20% $1,800,000, $1.0 $0.8 two 61,652 $7.95 $0.4 123,304 On January 1, 2016, two two one two December 2016. not January 1, 2017. During November 2017, $0.5 November 22, 2017, On December 13, 2017, $10.3 $4.5 $5.8 7% first 9 $2.4 September 30, 2017. As a result of the sale of CBC all periods presented in the Company's consolidated financial statements will account for CBC as a discontinued operation. This determination resulted in the reclassification of the historical assets and liabilities comprising the structured settlement business to assets related to discontinued operations in the consolidated balance sheets, and a corresponding adjustment to our consolidated statements of operations to reflect discontinued operations for all periods presented. As of September 30, 2018, no September 30, 2017, $92.2 $81.8 September 30, 2018 2017, $0.0 $3.4 $0.1 $4.6 The major components of assets and liabilities of the discontinued operations are as follows: September 30, 2018 201 7 ASSETS Cash and cash equivalents $ — $ 1,617,000 (1) Restricted cash — 499,000 Structured settlements — 86,971,000 Furniture and equipment (net of accumulated depreciation of $111,000 at September 30, 2017) — 34,000 Goodwill — — Other assets — 3,114,000 Total assets related to discontinued operations $ — $ 92,235,000 LIABILITIES AND MEMBERS’ EQUITY Other debt - CBC $ — $ 78,935,000 Other liabilities — 2,816,000 Total liabilities related to discontinued operations $ 81,751,000 ( 1 one September 30, 2017 $0.5 The following table presents the operating results, for the years ended September 30, 2018 2017 , 201 8 201 7 Revenues: Unrealized gain on structured settlements $ 244,000 $ 4,326,000 Interest income on structured settlements 2,005,000 8,224,000 Loss on sale of structured settlements — (5,353,000 ) Total revenues 2,249,000 7,197,000 Other income 11,000 58,000 2,260,000 7,255,000 Expenses: General and administrative expenses 1,560,000 9,954,000 Interest expense 824,000 3,927,000 Impairment — 1,405,000 2,384,000 15,286,000 Loss from discontinued operations before income tax (124,000 ) (8,031,000 ) Income tax benefit from discontinued operations (44,000 ) (3,411,000 ) Net loss from discontinued operations, net of income tax $ (80,000 ) $ (4,620,000 ) Prior to its sale, we, through CBC purchased periodic payments under structured settlements and annuity policies from individuals in exchange for a lump sum payment. The Company elected to carry the structured settlements at fair value. Unearned income on structured settlements is recognized as interest income using the effective interest method over the life of the related structured settlement. Changes in fair value are recorded in unrealized gain (loss) on structured settlements in the Company’s statements of operations. Unrealized gains on structured settlements is comprised of both unrealized gains resulting from fair market valuation at the date of acquisition of the structured settlements and the subsequent fair value adjustments resulting from the change in the discount rate. Of the $0.2 September 30, 2018, $0.2 one no $4.3 September 30, 2017 , $6.9 one $0.2 $2.1 $0.7 no We elected the fair value treatment under ASC 825 10 50 28 50 32 The purchased personal injury structured settlements result in payments over time through an annuity policy. Most of the annuities acquired involve guaranteed payments with specific defined ending dates. CBC also purchases a small number of life contingent annuity payments with specific ending dates but the actual payments to be received could be less due to the mortality risk associated with the measuring life. CBC records a provision for loss each period. The life contingent annuities were not September 30, 2017. CBC purchased structured settlement and annuity policies through privately negotiated direct consumer purchases and brokered transactions across the United States. CBC funds the purchases primarily from cash, its revolving line of credit, and its securitized debt, issued through its Blue Bell Receivables (“BBR”) subsidiaries. On April 7, 2017, $18.3 5.0% January 15, 2069. On April 28, 2017, third $7.7 $5.4 September 30, 2017. On April 28, 2017, June 30, 2017. March 31, 2017, Structured settlements consist of the following as of September 30, 2018 2017: September 30, 201 8 September 30, 2017 Maturity (1) (2) $ — $ 139,107,000 Unearned income — (52,136,000 ) Structured settlements, net $ — $ 86,971,000 ( 1 The maturity value represents the aggregate unpaid principal balance at September 30, 2018 2017. ( 2 There is approximately $0.3 September 30, 2017 . Encumbrances on structured settlements as of September 30, 2018 2017 Interest Rate September 30, 2018 September 30, 2017 Notes payable secured by settlement receivables with principal and interest outstanding payable until June 2025 8.75 % $ — $ 1,607,000 Notes payable secured by settlement receivables with principal and interest outstanding payable until August 2026 7.25 % — 3,612,000 Notes payable secured by settlement receivables with principal and interest outstanding payable until April 2032 7.125 % — 3,891,000 Notes payable secured by settlement receivables with principal and interest outstanding payable until February 2037 5.39 % — 17,390,000 Notes payable secured by settlement receivables with principal and interest outstanding payable until March 2034 5.07 % — 13,389,000 Notes payable secured by settlement receivables with principal and interest outstanding payable until February 2043 4.85 % — 13,001,000 Notes payable secured by settlement receivables with principal and interest outstanding payable until January 2069 5.00 % — 17,456,000 $25,000,000 revolving line of credit 4.25 % — 8,589,000 Encumbered structured settlements — 78,935,000 Structured settlements not encumbered — 8,036,000 Total structured settlements $ — $ 86,971,000 The Company assumed $25.9 December 31, 2013, $12.5 5.5%. March 27, 2014 September 29, 2014, three $22.0 4.75%. March 11, 2015, March 1, 2015, February 28, 2015 March 1, 2017. $22.0 $25.0 4.75% 4.1%. March 2017, April 28, 2017. April 28, 2017, June 30, 2017. July 27, 2017 June 30, 2019. On November 26, 2014, fourth $21.8 5.4%. September 25, 2015, fifth $16.6 5.1%. July 8, 2016, $14.8 4.85%. April 7, 2017, $18.3 5.0%. As of September 30, 2017, $78.9 $8.6 $70.3 100% December 2017, CBC leased its facility in Conshocken, PA. The lease was an operating lease, and the Company incurred related rent expense in the amount of $163,000 September 30, 2017. December 2017, |
Note 3 - Available-for-sale Inv
Note 3 - Available-for-sale Investments | 12 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Available-for-sale Investments [Text Block] | NOTE 3 - AVAILABLE - FOR - SALE INVESTMENTS Investments classified as available-for-sale at September 30, 2018 2017 Amortized Cost Unrealized Gains Unrealized Losses Fair Value 2018 $ 38,069,000 $ 1,000 $ (16,000 ) $ 38,054,000 2017 $ 5,500,000 $ 11,000 $ — $ 5,511,000 The available-for-sale investments, excluding U.S. treasury bills, do not not September 30, 2018. six September 30, 2017 , $1.0 . $0.2 2017 . At September 30, 2018 , three $30.5 1 none 12 September 30, 2017 one not Unrealized holding gains and losses on available-for-sale securities are included in other comprehensive income (loss) within stockholders’ equity. Realized gains (losses) on available-for-sale securities are included in other income (loss) and, when applicable, are reported as a reclassification adjustment in other comprehensive income (loss). |
Note 4 - Consumer Receivables A
Note 4 - Consumer Receivables Acquired for Liquidation | 12 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | NOTE 4 - CONSUMER RECEIVABLES ACQUIRED FOR LIQUIDATION: Accounts acquired for liquidation are stated at cost and consist primarily of defaulted consumer loans to individuals primarily throughout the United States and South America The Company may • the interest method; or • the cost recovery method. The Company uses the cost recovery method. Although the Company uses the cost recovery method on its current inventory of portfolios, the Company must still analyze a portfolio upon acquisition to ensure which method is appropriate, and once a static pool is established for a quarter, individual receivable accounts are not The Company uses the cost recovery method when collections on a particular pool of accounts cannot be reasonably predicted. Under the cost recovery method, no zero The Company aggregates portfolios of receivables acquired sharing specific common characteristics which were acquired within a given quarter. In addition, the Company uses a variety of qualitative and quantitative factors to estimate collections and the timing thereof. The Company obtains and utilizes, as appropriate, input, including but not third September 30, 2018, one two $0.1 $0.2 September 30, 2017, one four $0.1 $1.0 The following tables summarize the changes in the balance sheet account of consumer receivables acquired for liquidation during the following periods: For the Year Ended September 30, 201 8 201 7 Balance, beginning of period $ 6,841,000 $ 13,427,000 Acquisitions of receivable portfolio — 2,213,000 Net cash collections from collection of consumer receivables acquired for liquidation (18,551,000 ) (23,331,000 ) Net cash collections represented by account sales of consumer receivables acquired for liquidation (3,000 ) (197,000 ) Impairment (310,000 ) (1,129,000 ) Effect of foreign currency translation (91,000 ) (62,000 ) Finance income recognized 15,863,000 15,920,000 Balance, end of period $ 3,749,000 $ 6,841,000 Finance income as a percentage of collections 85.5 % 67.7 % During the year ended September 30, 2018, not September 30, 2017, $35.0 $2.2 As of September 30, 2018, $2.0 $1.3 $3.3 88.7% $3.7 September 30, 2018. 3 20%, 11% 11% September 30, 2018 As of September 30, 2017, $3.3 $2.9 $6.2 89.9% $6.8 September 30, 2017. 3 18%, 10% 10% September 30, 2017. As of September 30, 2018 2017, 5.9% 5.0% September 30, 2018 2017, 3.6% 2.6% The following table summarizes collections received by the Company’s third September 30, 2018 2017, 201 8 201 7 Gross collections(1) $ 35,512,000 $ 42,456,000 Less: commissions and fees(2) 16,958,000 18,928,000 Net collections $ 18,554,000 $ 23,528,000 ( 1 Gross collections include collections from third ( 2 Commissions are earned by third December 2007 one 3% |
Note 5 - Equity Method Investme
Note 5 - Equity Method Investments | 12 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Equity Method Investments and Joint Ventures Disclosure [Text Block] | NOTE 5 – EQUITY METHOD INVESTMENTS Acquisition of Equity Method Investment On December 28, 2011, 80% January 12, 2018. $5.1 three June 30, 2017, $0.8 $9.8 October 1, 2017 January 12, 2018, nine June 30, 2017, $50.5 September 30, 2017 $52.7 $32.7 $31.7 On November 8, 2016, not December 28, 2016. December 28, 2011 ( Pursuant to the Term Sheet, the parties thereto have agreed that Pegasus would continue in existence in order to collect advances on its existing Portfolio. The Company would fund overhead expenses relating to the collection of its Portfolio based on a budget agreed upon by the Company and PLF. Any cash received by Pegasus would be distributed to its members in the order provided for in the Operating Agreement. The Company would be repaid an amount equal to 20% October 1, 2016 January 2, 2017, In connection with the Term Sheet, the parties thereto have also entered into a customary mutual release and non-disparagement agreement as well as a release from the non-competition obligations under the Operating Agreement. The Company filed for arbitration with the American Arbitration Association ("AAA") against Pegasus in April 2017 April 18, 2017, On July 17, 2017, August 25, 2017 On January 12, 2018, Additionally, on January 12, 2018, 20% $1.8 100% $1.4 The fair values of the assets acquired and liabilities assumed at the acquisition date are as follows: Fair Value Cash $ 5,748,000 Personal injury claim advances portfolio 14,571,000 Accounts payable and accrued expenses (664,000 ) Total net assets acquired $ 19,655,000 As a result of the purchase of the Seller’s 20% January 12, 2018 January 13, 2018, The results of operations and financial position of the Company’s equity investment in Pegasus are summarized below: Condensed Statement of Operations Information 201 8 201 7 Personal injury claims income $ 671,000 $ 11,554,000 Operating expenses (386,000 ) 5,780,000 Income from operations $ 1,057,000 $ 5,774,000 Earnings from equity method investment $ 845,000 $ 4,619,000 Condensed Balance Sheet I nformation September 30, 2018 September 30, 2017 Current assets Cash $ — $ 35,631,000 (1) Investment in personal injury claims — 16,855,000 Other assets — 109,000 Total Assets $ — $ 52,595,000 Current liabilities $ — $ 31,677,000 Non-current liabilities — 1,952,000 Equity — 18,966,000 Total Liabilities and Equity $ — $ 52,595,000 ( 1 $35.4 Serlefin Serlefin Peru is the Company's 49% 51% three 51% Additionally, the Company and Serlefin jointly purchase international consumer debt portfolios under a purchase agreement. The Company and Serlefin purchase the portfolios on a pro-rata basis of 80% 20%, $0.4 $0.6 September 30, 2018 2017, The carrying value of the investment in Serlefin Peru was $0.2 September 30, 2018 September 30, 2017. September 30, 2018 $0.2 not |
Note 6 - Personal Injury Claims
Note 6 - Personal Injury Claims Funding | 12 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Personal Injury Claims [Text Block] | NOTE 6 Simia and Sylvave On November 11, 2016, not January 2017, September 30, 2018, $2.4 $0.4 September 30, 2017, $3.4 $0.4 As noted in Note 5 January 12, 2018, not Practical Funding The Company formed a new wholly owned subsidiary, Practical Funding on March 16, 2018 not The following tables summarize the changes in the balance sheet account of personal injury claim portfolios held by Simia and Sylvave for the following periods: For the Year Ended September 30, 2018 2017 Balance, beginning of period $ 3,704,000 $ — Acquisition of personal injury funding portfolio (1) 14,571,000 — Personal claim advances 60,000 4,077,000 Provision for losses (516,000 ) (7,000 ) (Write offs) recoveries 17,000 (15,000 ) Personal injury claims income 1,084,000 434,000 Personal injury claims receipts (8,175,000 ) (785,000 ) Balance, end of period $ 10,745,000 $ 3,704,000 ( 1 The Company recognized personal injury claims income of $1.1 $0.4 September 30, 2018, $7.1 $7,000 September 30, 2018 2017, |
Note 7 - Matrimonial Claims
Note 7 - Matrimonial Claims | 12 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Investment Holdings [Text Block] | NOTE 7 - MATRIMONIAL CLAIMS On May 8, 2012, 60% 40% $1.0 twenty-four September 2014, August 2016, $1.5 August 14, 2016, March 31, 2017, September 2014 April 1, 2017, $1.5 September 30, 2017. As of September 30, 2018 2017, $2.5 $4.0 September 30, 2017, no September 30, 2018 2017. |
Note 8 - Furniture and Equipmen
Note 8 - Furniture and Equipment | 12 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | NOTE 8 - FURNITURE AND EQUIPMENT Furniture and equipment as of September 30, 2018 2017 201 8 201 7 Furniture $ 273,000 $ 273,000 Equipment 252,000 241,000 Software 1,396,000 1,369,000 1,921,000 1,883,000 Less accumulated depreciation and amortization 1,821,000 1,759,000 $ 100,000 $ 124,000 Depreciation and amortization expense for the years ended September 30, 2018 2017 $62,000, $97,000 , |
Note 9 - Note Receivable
Note 9 - Note Receivable | 12 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Financing Receivables [Text Block] | NOTE 9 - NOTE RECEIVABLE Pursuant to Purchase Agreement, dated as of December 13, 2017, $10.3 $4.5 $5.8 7% December 13, 2020, first September 30, 2018, $4.3 September 30, 2018, $0.3 2 |
Note 10 - Settlements
Note 10 - Settlements | 12 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Legal Matters and Contingencies [Text Block] | NOTE 10 - SETTLEMENT S In August 2014, third third third third July 12, 2018, third $4.4 third These fee based settlements are required to total $2.4 $4.4 second third The Company determined the fair value of this settlement using (i) historical collection history to estimate the fee based settlement fees that are expected to be received each month from the servicer; (ii) the contractual true-up dates, discussed above, in order to estimate the anticipated true-up payments that will be received from the servicer on the second third 8.5%. As of September 30, 2018, third $3.3 2018, $0.6 third September 30, 2018, $3.4 $0.1 Additionally, the Company also recorded a gain on settlement of $0.6 third |
Note 11 - Non Recourse Debt
Note 11 - Non Recourse Debt | 12 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | NOTE 11 - NON RECOURSE DEBT Non-Recourse Debt - Bank of Montreal (“BMO”) In March 2007, $227 July 2007, December 2007, May 2008, February 2009, October 2010 August 2013 ( $300 three August 2013. On August 7, 2013, 100% $15 $15 30% $15 June 3, 2014, $2.9 $1.9 $16.9 During the month of June 2016 , $16.9 September 30, 2018 2017 , $117,000 $148,000, October 2018 2017, Bank Hapoalim B.M. (“Bank Hapoalim”) Line of Credit On May 2, 2014, $20 $20.0 $30 three 275 $150 March 30, 2016, 225 $50 $100 $9.6 February 2017 $10.0 April 28, 2017, August 2, 2017, August 2, 2017, $9.6 September 30, 2018 2017, no |
Note 12 - Other Liabilities
Note 12 - Other Liabilities | 12 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Other Liabilities Disclosure [Text Block] | NOTE 1 2 - OTHER LIABILITIES Other liabilities as of September 30, 2018 2017 201 8 201 7 Accounts payable and accrued expenses $ 2,281,000 $ 1,835,000 Lawsuit reserve (see Note 15 - Commitments and Contingencies - Legal Matters — 3,145,000 Total other liabilities $ 2,281,000 $ 4,980,000 |
Note 13 - Income Taxes
Note 13 - Income Taxes | 12 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 1 3 - INCOME TAXES The components of the provision for income taxes for the years ended September 30, 2018 2017 201 8 201 7 Current: Federal $ 3,709,000 $ (5,065,000 ) State — — 3,709,000 (5,065,000 ) Deferred: Federal 1,525,000 2,322,000 State 224,000 409,000 1,749,000 2,731,000 Sub-total 5,458,000 (2,334,000 ) Less: income tax benefit on discontinued operations (44,000 ) (3,411,000 ) Provision for income taxes $ 5,502,000 $ 1,077,000 On December 22, 2017, 35% 21%. September 30, 2018, $4.4 September 30, 2018, The difference between the statutory federal income tax rate on the Company’s pre-tax income and the Company’s effective income tax rate is summarized for the years ended September 30, 2018 2017 201 8 201 7 Statutory federal income tax rate 24.5 % 35.0 % State income tax, net of federal benefit 2.3 (2.7 ) Permanent difference in municipal interest (1.1 ) 1.3 Permanent difference other — (4.1 ) Change in valuation allowance (12.1 ) (14.0 ) Impact of the Tax Act (1) 46.3 — Other (2.5 ) (0.3 ) Effective income tax rate 57.4 % 15.2 % ( 1 $4.4 September 30, 2018. The Company recognized a net deferred tax asset of $10,940,000 $12,696,000 September 30, 2018 2017, September 30, 201 8 September 30, 201 7 Impairments/bad debt reserves $ 328,000 $ 4,380,000 Revenue recognition pertaining to the cost over estimated collections method 6,312,000 8,572,000 State tax net operating loss carry forward 7,421,000 9,603,000 Stock based compensation 2,367,000 3,520,000 Unrealized gain on structured settlements — (5,187,000 ) Capital loss carry forward 1,724,000 2,597,000 Foreign currency 404,000 472,000 Depreciation, amortization and other 215,000 193,000 Deferred income taxes 18,771,000 24,150,000 Deferred tax valuation allowance (7,831,000 ) (11,454,000 ) Deferred income taxes $ 10,940,000 $ 12,696,000 The Company files consolidated Federal and state income tax returns. Substantially all of the Company’s subsidiaries are single member limited liability companies and, therefore, do not September 30, 2009 September 30, 2029. September 30, 2018 $73.2 $16.5 $3.5 September 30, 2018, $2.2 $6.1 2022 The Company accounts for income taxes using the asset and liability method which requires the recognition of deferred tax assets and, if applicable, deferred tax liabilities, for the expected future tax consequences of temporary differences between the carrying amounts and the tax bases of assets and, if applicable, liabilities. Additionally, the Company would adjust deferred taxes to reflect estimated tax rate changes, if applicable. The Company conducts periodic evaluations to determine whether it is more likely than not not, not September 30, 2018. $7.8 September 30, 2018 $11.5 September 30, 2017. twenty 740, not 50 The Company's amended federal tax return for the year ended September 30, 2014 2015 2016 not |
Note 14 - Net Income Per Share
Note 14 - Net Income Per Share | 12 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 1 4 - NET INCOME PER SHARE The following table presents the computation of basic and diluted per share data for the fiscal years ended September 30, 2018 2017 : 201 8 201 7 Income (loss) from continuing operations $ 4,137,000 $ (8,382,000 ) Loss from discontinued operations (80,000 ) (4,620,000 ) Net income (loss) $ 4,057,000 $ (13,002,000 ) Basic earnings (loss) per common share from continuing operations $ 0.62 $ (0.97 ) Basic loss per common share from discontinued operations (0.01 ) (0.53 ) Basic earnings (loss) per share $ 0.61 $ (1.50 ) Diluted earnings (loss) per common share from continuing operations $ 0.62 $ (0.97 ) Diluted loss per common share from discontinuing operations (0.01 ) (0.53 ) Diluted earnings (loss) per share $ 0.61 $ (1.50 ) Weighted average number of common shares outstanding: Basic 6,662,600 8,692,668 Dilutive effect of stock options 2,241 — Diluted 6,664,841 8,692,668 |
Note 15 - Commitments and Conti
Note 15 - Commitments and Contingencies | 12 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 1 5 - COMMITMENTS AND CONTINGENCIES Leases The Company leases its facilities in (i) Englewood Cliffs, New Jersey, (ii) Houston, Texas, and (iii) Louisville, Kentucky. The leases are operating leases, and the Company incurred related rent expense in the amounts of $324,000, $360,000 September 30, 2018 2017 , Year Ending September 30, 2019 $ 265,000 2020 224,000 $ 489,000 The Company’s lease of its Louisville, Kentucky facility expires in December 2018. Employment Agreement On March 10, 2016, $275,000, 18 one 1 one Effective November 11, 2016, five two As of July 17, 2017, no No The employment contracts of the original two December 2016. not January 1, 2017. no Legal Matters In June 2015, one third The Company filed a motion to strike the class action allegations and compel arbitration or, to the extent the court declines to order arbitration, to dismiss the RICO claims. On or about March 31, 2015, July 2015, $13,000 $39,000. July 24, 2015. third not The plaintiffs’ attorneys advised that they were contemplating the filing of another putative class action complaint against the Company alleging substantially the same claims as those that were asserted in this matter. In anticipation of such an eventuality, the Company agreed to non-binding mediation in order to reach a global settlement with other putative class members, which would avert the possibility of further individual or class actions with respect to the affected accounts. To date, the parties have attended two $3.9 $2.0 three March 31, 2017, The Company reassessed the situation at September 30, 2016 $0.3 three September 30, 2016. January 23, 2018, $2.3 one third $4.6 third The Company was a defendant in a lawsuit filed in Montana state court alleging fraud and abuse of process arising from the Company’s business relationship with an entity that finances divorce litigation proceedings. On November 24, 2017, $0.8 September 30, 2017, $0.8 In the ordinary course of our business, we are involved in numerous legal proceedings. We regularly initiate collection lawsuits, using our network of third not not |
Note 16 - Concentrations
Note 16 - Concentrations | 12 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | NOTE 1 6 - CONCENTRATIONS At September 30, 2018, 31% 5 5 third 5 31% 87% third At September 30, 2017, 35% 5 5 third 5 35% 90% third three 10% 20%, 11% 11% 1 10%, 24% |
Note 17 - Stock Option Plans
Note 17 - Stock Option Plans | 12 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Stock Option Plans [Text Block] | NOTE 1 7 - STOCK OPTION PLANS 2012 On February 7, 2012, 2012 “2012 March 21, 2012. 2012 The 2012 The Company authorized 2,000,000 2012 September 30, 2018, 540,800 245,625 2012 109,768 1,323,343 September 30, 2018. September 30, 2018, 60 2012 Equity Compensation Plan On December 1, 2005, March 1, 2006. 2002 In addition to permitting the grant of stock options, as are permitted under the 2002 The Company authorized 1,000,000 March 21, 2012, no 2002 On March 5, 2002, 2002 “2002 May 1, 2002. 2002 The 2002 422 1986, not The Company authorized 1,000,000 2002 March 5, 2012, no Stock Based Compensation The Company accounts for stock-based employee compensation under ASC 718, 718” 718 On June 8, 2017, 56,600 10,000 10,000 January 1, 2018, 10,000 January 1, 2019 26,600 three one Risk-free interest rate 1.86 % Expected term (years) 5.97 Expected volatility 26.27 % Forfeiture rate 3.49 % Dividend yield 0.00 % Summary Of The Plan Compensation expense for stock options and restricted stock is recognized over the vesting period. Compensation expense for restricted stock is based upon the market price of the shares underlying the awards on the grant date. The following table summarizes stock option transactions under the 2012 2002 Year Ended September 30, 201 8 201 7 Shares Weighted Average Exercise Price Shares Weighted Average Exercise Price Outstanding options at the beginning of year 880,567 $ 8.05 949,667 $ 8.47 Options granted — — 56,600 6.55 Options forfeited/cancelled (90,100 ) 8.11 (125,700 ) 10.59 Options exercised (61,600 ) 6.48 — — Outstanding options at the end of year 728,867 $ 8.17 880,567 $ 8.05 Exercisable options at the end of year 710,694 $ 8.18 796,962 $ 8.14 The following table summarizes information about the plans’ outstanding options as of September 30, 2018: Options Outstanding Options Exercisable Range of Exercise Price Number Outstanding Weighted Average Remaining Contractual Life (In Years) Weighted Average Exercise Price Number Exercisable Weighted Average Exercise Price $2.8751 - $5.7500 1,200 0.6 $ 2.95 1,200 $ 2.95 $5.7501 - $8.6250 618,167 3.7 7.97 599,994 7.97 $8.6251 - $11.5000 109,500 4.3 9.37 109,500 9.37 728,867 3.8 $ 8.17 710,694 $ 8.18 The Company recognized $106,000 $58,000 September 30, 2018 2017 September 30, 2018, $7,000 0.2 The intrinsic value of the outstanding and exercisable options as of September 30, 2018 $1,200 $1,200 2018 $265,000.There no 2017. September 30, 2018 $664,000. September 30, 2018 $399,000. September 30, 2018 3.8 2018 2017 $258,000 $685,000, September 30, 2017 $371,000. no September 30, 2018. The Company did not September 30, 2018 2017. September 30, 2018 2017, no |
Note 18 - Stockholders' Equity
Note 18 - Stockholders' Equity | 12 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 1 8 - STOCKHOLDERS’ EQUITY The Company has 30,000,000 $0.01 one There were no September 30, 2018 2017. Dividends are declared at the discretion of the Board of Directors and depend upon the Company’s financial condition, operating results, capital requirements and other factors that the Board of Directors deems relevant. In addition, agreements with the Company’s lenders may, September 30, 2018, no no On February 5, 2018 $5.30 February 28, 2018 February 16, 2018 March 1, 2018. $35.4 Stockholder Rights Agreement On May 5, 2017, one May 15, 2017. one one $28.60, The Rights generally became exercisable on the earlier of (i) ten 10% ten The exercise price payable and the number of shares of Preferred Stock or other securities or property issuable, upon exercise of the Rights were subject to adjustment from time to time to prevent dilution. In the event that, after a person or a group has become an Acquiring Person, the Company is acquired in a merger or other business combination transaction (or 50% two $0.01 one Unless terminated on an earlier date pursuant to the terms of the Rights Agreement, the Rights was set to expire on June 1, 2018, may June 1, 2018. The Rights and Rights Agreement expired unexercised on June 1, 2018. |
Note 19 - Retirement Plan
Note 19 - Retirement Plan | 12 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | NOTE 1 9 - RETIREMENT PLAN The Company maintains a 401 September 30, 2018 2017 $127,000 $139,000, |
Note 20 - Fair Value of Financi
Note 20 - Fair Value of Financial Measurements and Disclosures | 12 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 20 - FAIR VALUE OF FINANCIAL MEASUREMENTS AND DISCLOSURES: Disclosures about Fair Value of Financial Instruments The estimated fair value of the Company’s financial instruments is summarized as follows: September 30, 201 8 September 30, 201 7 Carrying Amount Fair Value Carrying Amount Fair Value Financial assets Cash equivalents (Level 1) $ 1,786,000 $ 1,786,000 $ 68,000 $ 68,000 Available-for-sale investments (Level 1) 38,054,000 38,054,000 5,511,000 5,511,000 Consumer receivables acquired for liquidation (Level 3) 3,749,000 27,574,000 6,841,000 32,603,000 The following assets have been reclassified to discontinued operations as of September 30, 2017: September 30, 2017 Carrying Amount Fair Value Financial asset Structured settlements (Level 3) $ 86,971,000 $ 86,971,000 Disclosure of the estimated fair values of financial instruments often requires the use of estimates. The Company uses the following methods and assumptions to estimate the fair value of financial instruments: Cash equivalents - The Company considers all highly liquid debt instruments purchased with an original maturity of three Available-for-sale investments - The available-for-sale securities consist of mutual funds and U.S. treasury bills that are valued based on quoted prices in active markets. The U.S. treasury bills have been classified as available for sale by the Company, as they are deemed to be short term investments, and can be liquidated as needed by the Company. The Company’s available-for-sale investments are classified as Level 1 not 1 September 30, 2017. no 2 3 September 30, 2017. Consumer receivables acquired for liquidation - The Company computed the fair value of the consumer receivables acquired for liquidation using its proprietary forecasting model. The Company’s forecasting model utilizes a discounted cash flow analysis. The Company’s cash flows are an estimate of collections for consumer receivables based on variables fully described in Note 4 Structured settlements (included in discontinued operations) - The Company determined the fair value based on the discounted forecasted future collections of the structured settlements. Unrealized gains on structured settlements is comprised of both unrealized gains resulting from fair market valuation at the date of acquisition of the structured settlements and the subsequent fair value adjustments resulting from the change in the discount rate. The $0.2 September 30, 2018, one $4.3 September 30, 2017, $6.9 one $0.2 $2.1 $0.7 A significant unobservable input used in the fair value measurement of structured settlements is the discount rate. Significant increases and decreases in the discount rate used to estimate the fair value of structured settlements could decrease or increase the fair value measurement of the structured settlements. The discount rate could be affected by factors, which include, but are not 10 The changes in structured settlements at fair value using significant unobservable inputs (Level 3 September 30, 2018 Balance at September 30, 2017 $ 86,971,000 Structured settlements sold in conjunction with sale of CBC on December 13, 2017 (86,971,000 ) Structured settlements as of September 30, 2018 $ — Realized and unrealized gains and losses on structured settlements included in earnings in the accompanying consolidated statements of operations for the year ended September 30, 2018 Total gains included in the year ended September 30, 2018 $ 244,000 Change in unrealized gains (losses) relating to assets held at September 30, 2018 $ — |
Note 21 - Related Party Transac
Note 21 - Related Party Transactions | 12 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | NOTE 2 1 - RELATED PARTY TRANSACTIONS On September 17, 2015, two $80,000 September 30, 2017, 2018, not September 30, 2017, $80,000 In addition, A. L. Piccolo & Co., Inc. (“ALP”), which is also owned by Louis Piccolo, received a fee from Pegasus, prior to acquisition, which was calculated based on amounts loaned to Pegasus by Fund Pegasus up to maximum of $700,000. nine 4% December 28, 2016. September 30, 2018 2017, $33,000 $133,000, September 30, 2018 2017, $0 $66,000, September 30, 2017. In June 2015, $0.5 $1.2 For the years ended September 30, 2018 2017, $0 $203,000, September 30, 2018 2017, December 13, 2017, no |
Note 22 - Segment Reporting
Note 22 - Segment Reporting | 12 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | NOTE 2 2 - SEGMENT REPORTING The Company operates through strategic business units that are aggregated into three three • Consumer receivables - may may $3.3 • Personal injury claims March 16, 2018 not Simia commenced operations in January 2017, January 12, 2018, not • Social security disability advocacy Certain non-allocated administrative costs, interest income, interest expense and various other non-operating income and expenses are reflected in Corporate. Corporate assets include cash and cash equivalents, available-for-sale investments, a note receivable, property and equipment, goodwill, deferred taxes and other assets. The following table shows results for continuing operations by reporting segment for the years ended September 30, 2018 2017. (Dollars in millions) Consumer Receivables Social security disability advocacy Personal Injury Claims (2) Corporate (3) Total Fiscal Year Ended September 30, 2018: Revenues $ 15.9 $ 4.6 $ 1.1 $ - $ 21.6 Other income (5) 4.0 - - 0.5 4.5 Segment profit (loss) 17.8 1.1 1.1 (10.4 ) 9.6 Segment Assets (1) 12.4 1.0 11.9 61.0 86.3 2017: Revenues 15.9 5.1 0.4 - 21.4 Other income - - - (0.1 ) (0.1 ) Segment profit (loss) 12.5 (1.7 ) 4.1 (22.2 ) (7.3 ) Segment Assets (1) (4) 20.4 3.9 55.0 122.2 201.5 The Company does not ( 1 Includes other amounts in other line items on the consolidated balance sheet. ( 2 The Company recorded Pegasus as an equity investment in its consolidated financial statements through January 12, 2018. January 13, 2018, ( 3 Corporate is not three not ( 4 ( 5 Included in Corporate are approximately $92.8 September 30, 2017. Included in other income is approximately $4.0 10 |
Note 23 - Accumulated Other Com
Note 23 - Accumulated Other Comprehensive Income (Loss) | 12 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | NOTE 2 3 - ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) Accumulated other comprehensive income (loss) consists of: Year Ended September 30, 201 8 201 7 Unrealized gain on marketable securities Foreign currency translation, net Total Unrealized gain on marketable securities Foreign currency translation, net Total Beginning Balance $ 7,000 $ 11,000 $ 18,000 $ 624,000 $ 179,000 $ 803,000 Change in unrealized gains (losses) on foreign currency translation, net - 34,000 34,000 - (168,000 ) (168,000 ) Change in unrealized gains (losses) on marketable securities (17,000 ) - (17,000 ) (10,000 ) - (10,000 ) Amount reclassified from accumulated other comprehensive income - - - (607,000 ) - (607,000 ) Net current-period other comprehensive income (17,000 ) 34,000 17,000 (617,000 ) (168,000 ) $ (785,000 ) Ending balance $ (10,000 ) $ 45,000 $ 35,000 $ 7,000 $ 11,000 $ 18,000 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Sep. 30, 2018 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | [2] The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries, and are prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) and industry practices. All intercompany accounts have been eliminated in consolidation. |
Liquidity Disclosure [Policy Text Block] | [ 3 ] Liquidity: September 30, 2018, $6.3 $38.1 1 no $84 September 30, 2018. We believe that our available cash resources and expected cash inflows from operations will be sufficient to fund operations for the next twelve |
Use of Estimates, Policy [Policy Text Block] | [4] The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. With respect to income recognition the Company takes into consideration the relative credit quality of the underlying receivables constituting the portfolio acquired, the strategy involved to maximize the collections thereof, the time required to implement the collection strategy as well as other factors to estimate the anticipated cash flows. Actual results could differ from those estimates including management’s estimates of future cash flows and the resultant allocation of collections between principal and interest resulting there from. Downward revisions to estimated cash flows will result in impairments. |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | [5] – Cash , Cash Equivalents and Restricted Cash: The Company considers all highly liquid investments with a maturity of three Cash balances are maintained at various depository institutions and are insured by the Federal Deposit Insurance Corporation (“FDIC”). The Company had cash balances with four $1.1 September 30, 2018. two $1.4 not $0.5 September 30, 2017, not |
Investment, Policy [Policy Text Block] | [6] Investments that the Company intends to hold for an indefinite period of time, but not Declines in the fair value of individual available-for-sale securities below their respective costs that are other than temporary will result in write-downs of the individual securities to their fair value. Factors affecting the determination of whether another-than-temporary impairment has occurred include: a downgrading of the security by a rating agency, a significant deterioration in the financial condition of the issuer, or that management would not |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | [7] Goodwill represents the excess of the purchase price over the fair value of the net assets acquired in a business combination, and is accounted for under ASC 350. fourth not not two 1 not no 2 2 $1.4 |
Income Recognition Impairments and Accretable Yield Adjustments [Policy Text Block] | [8] Income Recognition The Company accounts for certain of its investments in consumer receivables using the guidance of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”), Receivables - Loans and Debt Securities Acquired with Deteriorated Credit Quality (“ASC 310” 310, Under the guidance of ASC 310 30 , not The Company uses the cost recovery method when collections on a particular pool of accounts cannot be reasonably predicted. Under the cost recovery method, no zero The Company accounts for its investments in personal injury claims at an agreed upon interest rate, in anticipation of a future settlement. The Company's interest purchased in personal injury claim advances consists of the right to receive from a claimant part of the proceeds or recoveries which such claimant receives by reason of a settlement, judgment or reward with respect to such claimant’s claim. Open case revenue is estimated, recognized and accrued at a rate based on the expected realization and underwriting guidelines and facts and circumstances for each individual case. These personal injury claims are non-recourse. When a case is closed and the cash is received for the advance provided to a claimant, revenue is recognized based upon the contractually agreed upon interest rate, and, if applicable, adjusted for any changes due to a settled amount and fees charged to the claimant. The Company recognizes revenue for GAR Disability Advocates and Five Star when disability claimants cases close with the social security administration and the applicable fees are collected. Impairments and accretable yield adjustments The Company accounts for its impairments in accordance with ASC 310, 310 310 If collection projections indicate the carrying value will not third In October 2014, $5.0 14% June December December 2015, no not During the fiscal year 2016, $1.0 2017, $3.4 March 31, 2017. |
Equity Method Investments [Policy Text Block] | [9] s : Investee companies that are not not 20% 50% not When the Company's carrying value in an equity method investee company is reduced to zero, no not not no September 30, 2018 2017. |
Personal Injury Claim Advances [Policy Text Block] | [10] : Management assesses the quality of the personal injury claims portfolio through an analysis of the underlying personal injury fundings on a case by case basis. Cases are reviewed through periodic updates with attorneys handling the cases, as well as with third not |
Commissions, Policy [Policy Text Block] | [11] Commissions and fees are the contractual commissions earned by third third |
Property, Plant and Equipment, Policy [Policy Text Block] | [12] Furniture, equipment and software are stated at cost, less accumulated depreciation and amortization. Depreciation is provided using the straight-line method over the estimated useful lives of the assets ( 3 7 |
Income Tax, Policy [Policy Text Block] | [13] Deferred federal and state taxes arise from (i) recognition of finance income collected for tax purposes, but not |
Fair Value of Financial Instruments, Policy [Policy Text Block] | [14] FASB ASC 825, 825” not The Company records its available-for-sale investments at estimated fair value on a recurring basis. The accompanying consolidated financial statements include estimated fair value information regarding its available-for-sale investments as of September 30, 2018, 820, 820” 820 820 Level 1 Level 2 1 not Level 3 no FASB ASC 825, 825” not |
Discontinued Operations, Policy [Policy Text Block] | [15] US GAAP requires the results of operations of a component of an entity that either has been disposed of or is classified as held for sale to be reported as discontinued operations in the consolidated financial statements if the sale or disposition represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results. |
Earnings Per Share, Policy [Policy Text Block] | [16] Basic per share data is determined by dividing net income (loss) by the weighted average shares outstanding during the period. Diluted per share data is computed by dividing net income (loss) by the weighted average shares outstanding, assuming all dilutive potential common shares were issued. The assumed proceeds from the exercise of dilutive options are calculated using the treasury stock method based on the average market price for the period. |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | [17] The Company accounts for stock-based employee compensation under FASB ASC 718, 718” 718 |
Reclassification, Policy [Policy Text Block] | [18] Certain prior period amounts in the accompanying consolidated financial statements have been reclassified to conform to the current year presentation. These reclassifications had no |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | [19] : Most of the Company's operations use their local currency as their functional currency. Financial statements of subsidiaries are translated into U.S. dollars using the exchange rate at each balance sheet date for assets and liabilities and a weighted average exchange rate for each period for revenues, expenses, gains and losses. Translation adjustments for subsidiaries whose local currency is their functional currency are recorded as a component of accumulated other comprehensive income (loss) within equity. Transaction gains and losses resulting from fluctuations in currency exchange rates on transactions denominated in currencies other than the functional currency are recognized as incurred in the accompanying consolidated statements of operations. |
New Accounting Pronouncements, Policy [Policy Text Block] | [ 20 ] Impact of Recently Issued Accounting Standards: In May 2014, 606, December 15, 2017 December 15, 2016, The Company has completed its initial assessment of the new standard, including a detailed review of the Company’s revenue streams to identify potential differences in accounting as a result of the new standard, and selected the modified retrospective method. Based on the Company’s initial assessment, we do not In January 2016, No. 2016 01, December 15, 2017, no In February 2016, 2016 02, 842 12 12 not not January 2018, 2018 01, 842 842. 2018 01 2018 01. December 15, 2019 In March 2016, No. 2016 07, 2016 07 December 15, 2016 not In March 2016, No. 2016 09, December 15, 2016, not In June 2016, 2016 13, 326 December 15, 2019. In August 2016 2016 15, 230 eight December 15, 2017. not In January 2017, No. 2017 01, 825 10 December 15, 2017, not In January 2017, 2017 04 350 2 December 15, 2019, not In March 2017, No. 2017 09, 718 December 15, 2017, not In February 2018, 2018 02, December 22, 2017, 2018 02 October 1, 2019, not In August 2018, No. 2018 13, 820 1 2 3 3 3 December 15, 2019. |
Note 2 - Discontinued Operati_2
Note 2 - Discontinued Operations (Tables) | 12 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Disposal Groups, Including Discontinued Operations [Table Text Block] | September 30, 2018 201 7 ASSETS Cash and cash equivalents $ — $ 1,617,000 (1) Restricted cash — 499,000 Structured settlements — 86,971,000 Furniture and equipment (net of accumulated depreciation of $111,000 at September 30, 2017) — 34,000 Goodwill — — Other assets — 3,114,000 Total assets related to discontinued operations $ — $ 92,235,000 LIABILITIES AND MEMBERS’ EQUITY Other debt - CBC $ — $ 78,935,000 Other liabilities — 2,816,000 Total liabilities related to discontinued operations $ 81,751,000 201 8 201 7 Revenues: Unrealized gain on structured settlements $ 244,000 $ 4,326,000 Interest income on structured settlements 2,005,000 8,224,000 Loss on sale of structured settlements — (5,353,000 ) Total revenues 2,249,000 7,197,000 Other income 11,000 58,000 2,260,000 7,255,000 Expenses: General and administrative expenses 1,560,000 9,954,000 Interest expense 824,000 3,927,000 Impairment — 1,405,000 2,384,000 15,286,000 Loss from discontinued operations before income tax (124,000 ) (8,031,000 ) Income tax benefit from discontinued operations (44,000 ) (3,411,000 ) Net loss from discontinued operations, net of income tax $ (80,000 ) $ (4,620,000 ) |
Structured Settlements [Table Text Block] | September 30, 201 8 September 30, 2017 Maturity (1) (2) $ — $ 139,107,000 Unearned income — (52,136,000 ) Structured settlements, net $ — $ 86,971,000 |
Schedule of Fair Value of Debt [Table Text Block] | Interest Rate September 30, 2018 September 30, 2017 Notes payable secured by settlement receivables with principal and interest outstanding payable until June 2025 8.75 % $ — $ 1,607,000 Notes payable secured by settlement receivables with principal and interest outstanding payable until August 2026 7.25 % — 3,612,000 Notes payable secured by settlement receivables with principal and interest outstanding payable until April 2032 7.125 % — 3,891,000 Notes payable secured by settlement receivables with principal and interest outstanding payable until February 2037 5.39 % — 17,390,000 Notes payable secured by settlement receivables with principal and interest outstanding payable until March 2034 5.07 % — 13,389,000 Notes payable secured by settlement receivables with principal and interest outstanding payable until February 2043 4.85 % — 13,001,000 Notes payable secured by settlement receivables with principal and interest outstanding payable until January 2069 5.00 % — 17,456,000 $25,000,000 revolving line of credit 4.25 % — 8,589,000 Encumbered structured settlements — 78,935,000 Structured settlements not encumbered — 8,036,000 Total structured settlements $ — $ 86,971,000 |
Note 3 - Available-for-sale I_2
Note 3 - Available-for-sale Investments (Tables) | 12 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Available-for-sale Securities [Table Text Block] | Amortized Cost Unrealized Gains Unrealized Losses Fair Value 2018 $ 38,069,000 $ 1,000 $ (16,000 ) $ 38,054,000 2017 $ 5,500,000 $ 11,000 $ — $ 5,511,000 |
Note 4 - Consumer Receivables_2
Note 4 - Consumer Receivables Acquired for Liquidation (Tables) | 12 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Consumer Receivables after Liquidation [Table Text Block] | For the Year Ended September 30, 201 8 201 7 Balance, beginning of period $ 6,841,000 $ 13,427,000 Acquisitions of receivable portfolio — 2,213,000 Net cash collections from collection of consumer receivables acquired for liquidation (18,551,000 ) (23,331,000 ) Net cash collections represented by account sales of consumer receivables acquired for liquidation (3,000 ) (197,000 ) Impairment (310,000 ) (1,129,000 ) Effect of foreign currency translation (91,000 ) (62,000 ) Finance income recognized 15,863,000 15,920,000 Balance, end of period $ 3,749,000 $ 6,841,000 Finance income as a percentage of collections 85.5 % 67.7 % |
Schedule of Collections on Gross Basis [Table Text Block] | 201 8 201 7 Gross collections(1) $ 35,512,000 $ 42,456,000 Less: commissions and fees(2) 16,958,000 18,928,000 Net collections $ 18,554,000 $ 23,528,000 |
Note 5 - Equity Method Invest_2
Note 5 - Equity Method Investments (Tables) | 12 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | Fair Value Cash $ 5,748,000 Personal injury claim advances portfolio 14,571,000 Accounts payable and accrued expenses (664,000 ) Total net assets acquired $ 19,655,000 |
Equity Method Investment, Summarized Financial Information [Table Text Block] | Condensed Statement of Operations Information 201 8 201 7 Personal injury claims income $ 671,000 $ 11,554,000 Operating expenses (386,000 ) 5,780,000 Income from operations $ 1,057,000 $ 5,774,000 Earnings from equity method investment $ 845,000 $ 4,619,000 Condensed Balance Sheet I nformation September 30, 2018 September 30, 2017 Current assets Cash $ — $ 35,631,000 (1) Investment in personal injury claims — 16,855,000 Other assets — 109,000 Total Assets $ — $ 52,595,000 Current liabilities $ — $ 31,677,000 Non-current liabilities — 1,952,000 Equity — 18,966,000 Total Liabilities and Equity $ — $ 52,595,000 |
Note 6 - Personal Injury Clai_2
Note 6 - Personal Injury Claims Funding (Tables) | 12 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Personal Claims Funding [Table Text Block] | For the Year Ended September 30, 2018 2017 Balance, beginning of period $ 3,704,000 $ — Acquisition of personal injury funding portfolio (1) 14,571,000 — Personal claim advances 60,000 4,077,000 Provision for losses (516,000 ) (7,000 ) (Write offs) recoveries 17,000 (15,000 ) Personal injury claims income 1,084,000 434,000 Personal injury claims receipts (8,175,000 ) (785,000 ) Balance, end of period $ 10,745,000 $ 3,704,000 |
Note 8 - Furniture and Equipm_2
Note 8 - Furniture and Equipment (Tables) | 12 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | 201 8 201 7 Furniture $ 273,000 $ 273,000 Equipment 252,000 241,000 Software 1,396,000 1,369,000 1,921,000 1,883,000 Less accumulated depreciation and amortization 1,821,000 1,759,000 $ 100,000 $ 124,000 |
Note 12 - Other Liabilities (Ta
Note 12 - Other Liabilities (Tables) | 12 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Other Liabilities [Table Text Block] | 201 8 201 7 Accounts payable and accrued expenses $ 2,281,000 $ 1,835,000 Lawsuit reserve (see Note 15 - Commitments and Contingencies - Legal Matters — 3,145,000 Total other liabilities $ 2,281,000 $ 4,980,000 |
Note 13 - Income Taxes (Tables)
Note 13 - Income Taxes (Tables) | 12 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | 201 8 201 7 Current: Federal $ 3,709,000 $ (5,065,000 ) State — — 3,709,000 (5,065,000 ) Deferred: Federal 1,525,000 2,322,000 State 224,000 409,000 1,749,000 2,731,000 Sub-total 5,458,000 (2,334,000 ) Less: income tax benefit on discontinued operations (44,000 ) (3,411,000 ) Provision for income taxes $ 5,502,000 $ 1,077,000 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | 201 8 201 7 Statutory federal income tax rate 24.5 % 35.0 % State income tax, net of federal benefit 2.3 (2.7 ) Permanent difference in municipal interest (1.1 ) 1.3 Permanent difference other — (4.1 ) Change in valuation allowance (12.1 ) (14.0 ) Impact of the Tax Act (1) 46.3 — Other (2.5 ) (0.3 ) Effective income tax rate 57.4 % 15.2 % |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | September 30, 201 8 September 30, 201 7 Impairments/bad debt reserves $ 328,000 $ 4,380,000 Revenue recognition pertaining to the cost over estimated collections method 6,312,000 8,572,000 State tax net operating loss carry forward 7,421,000 9,603,000 Stock based compensation 2,367,000 3,520,000 Unrealized gain on structured settlements — (5,187,000 ) Capital loss carry forward 1,724,000 2,597,000 Foreign currency 404,000 472,000 Depreciation, amortization and other 215,000 193,000 Deferred income taxes 18,771,000 24,150,000 Deferred tax valuation allowance (7,831,000 ) (11,454,000 ) Deferred income taxes $ 10,940,000 $ 12,696,000 |
Note 14 - Net Income Per Share
Note 14 - Net Income Per Share (Tables) | 12 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | 201 8 201 7 Income (loss) from continuing operations $ 4,137,000 $ (8,382,000 ) Loss from discontinued operations (80,000 ) (4,620,000 ) Net income (loss) $ 4,057,000 $ (13,002,000 ) Basic earnings (loss) per common share from continuing operations $ 0.62 $ (0.97 ) Basic loss per common share from discontinued operations (0.01 ) (0.53 ) Basic earnings (loss) per share $ 0.61 $ (1.50 ) Diluted earnings (loss) per common share from continuing operations $ 0.62 $ (0.97 ) Diluted loss per common share from discontinuing operations (0.01 ) (0.53 ) Diluted earnings (loss) per share $ 0.61 $ (1.50 ) Weighted average number of common shares outstanding: Basic 6,662,600 8,692,668 Dilutive effect of stock options 2,241 — Diluted 6,664,841 8,692,668 |
Note 15 - Commitments and Con_2
Note 15 - Commitments and Contingencies (Tables) | 12 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Year Ending September 30, 2019 $ 265,000 2020 224,000 $ 489,000 |
Note 17 - Stock Option Plans (T
Note 17 - Stock Option Plans (Tables) | 12 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Risk-free interest rate 1.86 % Expected term (years) 5.97 Expected volatility 26.27 % Forfeiture rate 3.49 % Dividend yield 0.00 % |
Share-based Compensation, Stock Options, Activity [Table Text Block] | Year Ended September 30, 201 8 201 7 Shares Weighted Average Exercise Price Shares Weighted Average Exercise Price Outstanding options at the beginning of year 880,567 $ 8.05 949,667 $ 8.47 Options granted — — 56,600 6.55 Options forfeited/cancelled (90,100 ) 8.11 (125,700 ) 10.59 Options exercised (61,600 ) 6.48 — — Outstanding options at the end of year 728,867 $ 8.17 880,567 $ 8.05 Exercisable options at the end of year 710,694 $ 8.18 796,962 $ 8.14 |
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] | Options Outstanding Options Exercisable Range of Exercise Price Number Outstanding Weighted Average Remaining Contractual Life (In Years) Weighted Average Exercise Price Number Exercisable Weighted Average Exercise Price $2.8751 - $5.7500 1,200 0.6 $ 2.95 1,200 $ 2.95 $5.7501 - $8.6250 618,167 3.7 7.97 599,994 7.97 $8.6251 - $11.5000 109,500 4.3 9.37 109,500 9.37 728,867 3.8 $ 8.17 710,694 $ 8.18 |
Note 20 - Fair Value of Finan_2
Note 20 - Fair Value of Financial Measurements and Disclosures (Tables) | 12 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block] | September 30, 201 8 September 30, 201 7 Carrying Amount Fair Value Carrying Amount Fair Value Financial assets Cash equivalents (Level 1) $ 1,786,000 $ 1,786,000 $ 68,000 $ 68,000 Available-for-sale investments (Level 1) 38,054,000 38,054,000 5,511,000 5,511,000 Consumer receivables acquired for liquidation (Level 3) 3,749,000 27,574,000 6,841,000 32,603,000 September 30, 2017 Carrying Amount Fair Value Financial asset Structured settlements (Level 3) $ 86,971,000 $ 86,971,000 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Balance at September 30, 2017 $ 86,971,000 Structured settlements sold in conjunction with sale of CBC on December 13, 2017 (86,971,000 ) Structured settlements as of September 30, 2018 $ — |
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings [Table Text Block] | Total gains included in the year ended September 30, 2018 $ 244,000 Change in unrealized gains (losses) relating to assets held at September 30, 2018 $ — |
Note 22 - Segment Reporting (Ta
Note 22 - Segment Reporting (Tables) | 12 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | (Dollars in millions) Consumer Receivables Social security disability advocacy Personal Injury Claims (2) Corporate (3) Total Fiscal Year Ended September 30, 2018: Revenues $ 15.9 $ 4.6 $ 1.1 $ - $ 21.6 Other income (5) 4.0 - - 0.5 4.5 Segment profit (loss) 17.8 1.1 1.1 (10.4 ) 9.6 Segment Assets (1) 12.4 1.0 11.9 61.0 86.3 2017: Revenues 15.9 5.1 0.4 - 21.4 Other income - - - (0.1 ) (0.1 ) Segment profit (loss) 12.5 (1.7 ) 4.1 (22.2 ) (7.3 ) Segment Assets (1) (4) 20.4 3.9 55.0 122.2 201.5 |
Note 23 - Accumulated Other C_2
Note 23 - Accumulated Other Comprehensive Income (Loss) (Tables) | 12 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Year Ended September 30, 201 8 201 7 Unrealized gain on marketable securities Foreign currency translation, net Total Unrealized gain on marketable securities Foreign currency translation, net Total Beginning Balance $ 7,000 $ 11,000 $ 18,000 $ 624,000 $ 179,000 $ 803,000 Change in unrealized gains (losses) on foreign currency translation, net - 34,000 34,000 - (168,000 ) (168,000 ) Change in unrealized gains (losses) on marketable securities (17,000 ) - (17,000 ) (10,000 ) - (10,000 ) Amount reclassified from accumulated other comprehensive income - - - (607,000 ) - (607,000 ) Net current-period other comprehensive income (17,000 ) 34,000 17,000 (617,000 ) (168,000 ) $ (785,000 ) Ending balance $ (10,000 ) $ 45,000 $ 35,000 $ 7,000 $ 11,000 $ 18,000 |
Note 1 - The Company and Its _2
Note 1 - The Company and Its Significant Accounting Policies (Details Textual) | Oct. 31, 2014USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | Sep. 30, 2016USD ($) | Jan. 12, 2018 | Dec. 28, 2011 |
Number of Reportable Segments | 3 | |||||
Cash and Cash Equivalents, at Carrying Value, Ending Balance | $ 6,284,000 | $ 17,591,000 | ||||
Available-for-sale Securities, Total | 38,054,000 | 5,511,000 | ||||
Debt, Current, Total | 0 | |||||
Working Capital | 84,000,000 | |||||
Cash, Uninsured Amount | 1,100,000 | |||||
Cash, Uninsured Amount, Foreign | 1,400,000 | |||||
Disposal Group, Including Discontinued Operation, Restricted Cash | 500,000 | |||||
Goodwill, Ending Balance | 1,410,000 | 1,410,000 | ||||
Equity Method Investment, Other than Temporary Impairment | $ 0 | 0 | ||||
Minimum [Member] | ||||||
Property, Plant and Equipment, Useful Life | 3 years | |||||
Maximum [Member] | ||||||
Property, Plant and Equipment, Useful Life | 7 years | |||||
Fixed Income Funds [Member] | ||||||
Available-for-sale Securities, Equity Securities | $ 5,000,000 | |||||
Related Party Transaction, Rate | 14.00% | |||||
Other than Temporary Impairment Losses, Investments, Total | 3,400,000 | $ 1,000,000 | ||||
Pegasus Legal Funding LLC [Member] | ||||||
Noncontrolling Interest, Ownership Percentage by Parent | 100.00% | |||||
Pegasus Legal Funding LLC [Member] | ||||||
Business Acquisition, Percentage of Voting Interests Acquired | 20.00% | |||||
VATIV [Member] | ||||||
Goodwill, Ending Balance | $ 1,400,000,000 | |||||
Pegasus Legal Funding LLC [Member] | ||||||
Equity Method Investment, Ownership Percentage | 80.00% | 80.00% |
Note 2 - Discontinued Operati_3
Note 2 - Discontinued Operations (Details Textual) - USD ($) | Dec. 13, 2017 | Nov. 22, 2017 | Jan. 01, 2016 | Dec. 31, 2015 | Mar. 01, 2015 | Dec. 31, 2013 | Sep. 29, 2014 | Sep. 30, 2018 | Sep. 30, 2017 | Apr. 28, 2017 | Apr. 07, 2017 | Jul. 08, 2016 | Sep. 25, 2015 | Nov. 26, 2014 | May 02, 2014 |
Disposal Group, Including Discontinued Operation, Assets, Total | $ 92,235,000 | ||||||||||||||
Disposal Group, Including Discontinued Operation, Liabilities, Total | 81,751,000 | ||||||||||||||
Discontinued Operation, Tax Effect of Discontinued Operation, Total | (44,000) | (3,411,000) | |||||||||||||
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent, Total | (80,000) | $ (4,620,000) | |||||||||||||
Cash, Uninsured Amount | 1,100,000 | ||||||||||||||
Line of Credit Facility, Current Borrowing Capacity | $ 20,000,000 | ||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 30,000,000 | ||||||||||||||
CBC [Member] | |||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 22,000,000 | ||||||||||||||
Competitor Alleged Former Subsidiary [Member] | |||||||||||||||
Payments for Legal Settlements | $ 500,000 | ||||||||||||||
CBC [Member] | |||||||||||||||
Equity Method Investment, Ownership Percentage | 80.00% | 100.00% | |||||||||||||
Business Combination, Consideration Transferred, Total | $ 1,800,000 | $ 5,900,000 | |||||||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 20.00% | ||||||||||||||
Payments to Acquire Businesses, Gross | $ 800,000 | ||||||||||||||
Employment Agreement Term | 2 years | ||||||||||||||
Employee Agreement Renewal Term | 1 year | ||||||||||||||
Disposal Group, Including Discontinued Operation, Consideration | $ 10,300,000 | ||||||||||||||
Disposal Group, Including Discontinued Operation, Cash Consideration | 4,500,000 | ||||||||||||||
Disposal Group, Including Discontinued Operation, Promissory Note Consideration | $ 5,800,000 | ||||||||||||||
Promissory Note Interest Rate, Discontinued Operations | 7.00% | ||||||||||||||
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax, Total | $ 2,400,000 | ||||||||||||||
Disposal Group, Including Discontinued Operation, Assets, Total | 0 | 92,200,000 | |||||||||||||
Disposal Group, Including Discontinued Operation, Liabilities, Total | 81,800,000 | ||||||||||||||
Discontinued Operation, Tax Effect of Discontinued Operation, Total | 0 | 3,400,000 | |||||||||||||
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent, Total | (100,000) | 4,600,000 | |||||||||||||
Cash, Uninsured Amount | 500,000 | ||||||||||||||
Structured Settlements, Unrealized Gain (Losses) | 200,000 | 4,300,000 | |||||||||||||
Structured Settlements, Gain on New Structured Settlements Financed | $ 200,000 | 6,900,000 | |||||||||||||
Unrealized Gain (Loss) on Structured Settlements Due to Change in Discount Rate | 200,000 | ||||||||||||||
Structured Settlements, Unrealized Gain (Loss), Decrease in Realized Gains Recognized as Realized Interest Income on Structured Settlements | 2,100,000 | ||||||||||||||
Structured Settlements, Reduction in Fair Value | 700,000 | ||||||||||||||
Structured Settlements Past Due | 300,000 | ||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities, Total | 25,900,000 | ||||||||||||||
Line of Credit Facility, Current Borrowing Capacity | $ 12,500,000 | ||||||||||||||
Debt Instrument, Floor Interest Rate | 4.10% | 5.50% | 4.75% | ||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 25,000,000 | $ 22,000,000 | |||||||||||||
Other Long-term Debt, Total | 78,900,000 | ||||||||||||||
Long-term Line of Credit, Total | 8,600,000 | ||||||||||||||
Notes Payable, Noncurrent, Total | 70,300,000 | ||||||||||||||
CBC [Member] | Facility in Conshocken, PA [Member] | |||||||||||||||
Operating Leases, Rent Expense, Net, Total | 163,000 | ||||||||||||||
CBC [Member] | Secured Debt [Member] | |||||||||||||||
Debt Instrument, Face Amount | $ 18,300,000 | $ 14,800,000 | $ 16,600,000 | $ 21,800,000 | |||||||||||
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 5.00% | 4.85% | 5.10% | 5.40% | |||||||||||
CBC [Member] | Principal One [Member] | |||||||||||||||
Payments to Acquire Businesses, Gross | 400,000 | ||||||||||||||
CBC [Member] | Restricted Stock [Member] | |||||||||||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | $ 1,000,000 | ||||||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 123,304 | ||||||||||||||
Shares Lock-up Period | 1 year | ||||||||||||||
CBC [Member] | Restricted Stock [Member] | Principal One [Member] | |||||||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 61,652 | ||||||||||||||
Shares Issued, Price Per Share | $ 7.95 | ||||||||||||||
Life Contingent Annuities Portfolio [Member] | |||||||||||||||
Disposal Group, Including Discontinued Operation, Consideration | $ 7,700,000 | ||||||||||||||
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax, Total | $ 5,400,000 |
Note 2 - Discontinued Operati_4
Note 2 - Discontinued Operations - Financial Statements (Details) - USD ($) | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | ||
Restricted cash | $ 500,000 | ||
Total assets related to discontinued operations | 92,235,000 | ||
Total liabilities related to discontinued operations | 81,751,000 | ||
Income tax benefit from discontinued operations | (44,000) | (3,411,000) | |
Net loss from discontinued operations, net of income tax | (80,000) | (4,620,000) | |
CBC [Member] | |||
Total assets related to discontinued operations | 0 | 92,200,000 | |
Total liabilities related to discontinued operations | 81,800,000 | ||
Income tax benefit from discontinued operations | 0 | 3,400,000 | |
Net loss from discontinued operations, net of income tax | (100,000) | 4,600,000 | |
CBC [Member] | Discontinued Operations, Disposed of by Sale [Member] | |||
Cash and cash equivalents | |||
Restricted cash | |||
Structured settlements | |||
Furniture and equipment (net of accumulated depreciation of $111,000 at September 30, 2017) | |||
Goodwill | |||
Other assets | |||
Total assets related to discontinued operations | |||
Other debt - CBC | |||
Other liabilities | |||
Total liabilities related to discontinued operations | |||
Unrealized gain on structured settlements | 244,000 | ||
Interest income on structured settlements | 2,005,000 | ||
Loss on sale of structured settlements | |||
Total revenues | 2,249,000 | ||
Other income | 11,000 | ||
2,260,000 | |||
General and administrative expenses | 1,560,000 | ||
Interest expense | 824,000 | ||
Impairment | |||
2,384,000 | |||
Loss from discontinued operations before income tax | (124,000) | ||
Income tax benefit from discontinued operations | (44,000) | ||
Net loss from discontinued operations, net of income tax | $ (80,000) | ||
CBC [Member] | Discontinued Operations, Held-for-sale [Member] | |||
Cash and cash equivalents | [1] | 1,617,000 | |
Restricted cash | 499,000 | ||
Structured settlements | 86,971,000 | ||
Furniture and equipment (net of accumulated depreciation of $111,000 at September 30, 2017) | 34,000 | ||
Goodwill | |||
Other assets | 3,114,000 | ||
Total assets related to discontinued operations | 92,235,000 | ||
Other debt - CBC | 78,935,000 | ||
Other liabilities | 2,816,000 | ||
Total liabilities related to discontinued operations | 81,751,000 | ||
Unrealized gain on structured settlements | 4,326,000 | ||
Interest income on structured settlements | 8,224,000 | ||
Loss on sale of structured settlements | (5,353,000) | ||
Total revenues | 7,197,000 | ||
Other income | 58,000 | ||
7,255,000 | |||
General and administrative expenses | 9,954,000 | ||
Interest expense | 3,927,000 | ||
Impairment | 1,405,000 | ||
15,286,000 | |||
Loss from discontinued operations before income tax | (8,031,000) | ||
Income tax benefit from discontinued operations | (3,411,000) | ||
Net loss from discontinued operations, net of income tax | $ (4,620,000) | ||
[1] | Cash balance with one bank at September 30, 2017 that exceeded the balance insured by the FDIC by approximately $0.5 million. |
Note 2 - Discontinued Operati_5
Note 2 - Discontinued Operations - Financial Statements (Details) (Parentheticals) - USD ($) | Sep. 30, 2018 | Sep. 30, 2017 |
Furniture and equipment, accumulated depreciation | $ 111,000 |
Note 2 - Discontinued Operati_6
Note 2 - Discontinued Operations - Components of Structured Settlements (Details) - USD ($) | Sep. 30, 2018 | Sep. 30, 2017 | |
Maturity (1) (2) | [1],[2] | $ 139,107,000 | |
Unearned income | (52,136,000) | ||
Structured settlements, net | $ 86,971,000 | ||
[1] | The maturity value represents the aggregate unpaid principal balance at September 30, 2018 and 2017. | ||
[2] | There is approximately $0.3 million of structured settlements that are past due, or in non-accrual status at September 30, 2017. |
Note 2 - Discontinued Operati_7
Note 2 - Discontinued Operations - Structured Settlements (Details) - USD ($) | Sep. 30, 2018 | Sep. 30, 2017 |
Notes payable secured by settlement receivables with principal and interest outstanding payable, encumbered and unencumbered | $ 86,971,000 | |
Structured Settlement [Member] | ||
Interest Rate | 4.25% | |
Notes payable secured by settlement receivables with principal and interest outstanding payable, encumbered and unencumbered | 8,589,000 | |
Structured Settlements Encumbered By Notes Payable Due June 2025 [Member] | ||
Interest Rate | 8.75% | |
Notes payable secured by settlement receivables with principal and interest outstanding payable, encumbered and unencumbered | 1,607,000 | |
Structured Settlements Encumbered By Notes Payable Due August 2026 [Member] | ||
Interest Rate | 7.25% | |
Notes payable secured by settlement receivables with principal and interest outstanding payable, encumbered and unencumbered | 3,612,000 | |
Structured Settlements Encumbered By Notes Payable Due April 2032 [Member] | ||
Interest Rate | 7.125% | |
Notes payable secured by settlement receivables with principal and interest outstanding payable, encumbered and unencumbered | 3,891,000 | |
Structured Settlements Encumbered By Notes Payable Due February 2037 [Member] | ||
Interest Rate | 5.39% | |
Notes payable secured by settlement receivables with principal and interest outstanding payable, encumbered and unencumbered | 17,390,000 | |
Structured Settlements Encumbered By Notes Payable Due March 2034 [Member] | ||
Interest Rate | 5.07% | |
Notes payable secured by settlement receivables with principal and interest outstanding payable, encumbered and unencumbered | 13,389,000 | |
Structured Settlements Encumbered By Notes Payable Due February 2043 [Member] | ||
Interest Rate | 4.85% | |
Notes payable secured by settlement receivables with principal and interest outstanding payable, encumbered and unencumbered | 13,001,000 | |
Structured Settlements Encumbered By Notes Payable Due January 2069 [Member] | ||
Interest Rate | 5.00% | |
Notes payable secured by settlement receivables with principal and interest outstanding payable, encumbered and unencumbered | 17,456,000 | |
Structured Settlements Encumbered [Member] | ||
Notes payable secured by settlement receivables with principal and interest outstanding payable, encumbered and unencumbered | 78,935,000 | |
Structured Settlements Not Encumbered [Member] | ||
Notes payable secured by settlement receivables with principal and interest outstanding payable, encumbered and unencumbered | $ 8,036,000 |
Note 2 - Discontinued Operati_8
Note 2 - Discontinued Operations - Structured Settlements (Details) (Parentheticals) - USD ($) | Sep. 30, 2018 | Sep. 30, 2017 | May 02, 2014 |
Revolving line of credit, borrowing capacity | $ 30,000,000 | ||
Structured Settlement [Member] | |||
Revolving line of credit, borrowing capacity | $ 25,000,000 | $ 25,000,000 |
Note 3 - Available-for-sale I_3
Note 3 - Available-for-sale Investments (Details Textual) $ in Millions | 12 Months Ended | |
Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | |
Number of Investments Sold | 0 | 6 |
Available-for-sale Securities, Gross Realized Losses | $ 1 | |
Realized Investment Gains (Losses), Total | $ 0.2 | |
Mutual Funds [Member] | ||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | 3 | |
US Treasury Securities [Member] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $ 30.5 |
Note 3 - Available-for-sale I_4
Note 3 - Available-for-sale Investments - Investments Classified as Available-for-sale (Details) - USD ($) | Sep. 30, 2018 | Sep. 30, 2017 |
Amortized Cost | $ 38,069,000 | $ 5,500,000 |
Unrealized Gains | 1,000 | 11,000 |
Unrealized Losses | (16,000) | |
Available-for-sale Securities, Total | $ 38,054,000 | $ 5,511,000 |
Note 4 - Consumer Receivables_3
Note 4 - Consumer Receivables Acquired for Liquidation (Details Textual) - USD ($) | 1 Months Ended | 12 Months Ended | |
Dec. 31, 2007 | Sep. 30, 2018 | Sep. 30, 2017 | |
Other Asset Impairment Charges | $ 310,000 | $ 1,129,000 | |
Face Value of Charged-off Consumer Receivables | 0 | 35,000,000 | |
Purchased Cost of Charged-off Consumer Receivables | 2,200,000 | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | $ 3,749,000 | $ 6,841,000 | |
Foreign Consumer Receivables, Percentage of Total Consumer Receivable | 88.70% | 89.90% | |
Number of Customer Receivable Portfolios | $ 3 | ||
Percentage of Assets Related to Internationl Operation | 5.90% | 5.00% | |
Percentage of Revenue Related to International Operation | 3.60% | 2.60% | |
Fee Charged on Portfolio Purchase | 3.00% | ||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Consumer Portfolio 1 [Member] | |||
Concentration Risk, Percentage | 20.00% | 18.00% | |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Consumer Portfolio 2 [Member] | |||
Concentration Risk, Percentage | 11.00% | 10.00% | |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Consumer Portfolio 3 [Member] | |||
Concentration Risk, Percentage | 11.00% | 10.00% | |
PERU | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | $ 2,000,000 | $ 3,300,000 | |
COLOMBIA | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 1,300,000 | 2,900,000 | |
Non-US [Member] | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 3,300,000 | 6,200,000 | |
One Domestic Portfolio [Member] | |||
Other Asset Impairment Charges | 100,000 | 100,000 | |
Two International Portfolios [Member] | |||
Other Asset Impairment Charges | $ 200,000 | $ 1,000,000 |
Note 4 - Consumer Receivables_4
Note 4 - Consumer Receivables Acquired for Liquidation - Changes In Balance Sheet Account of Consumer Receivables Acquired for Liquidation (Details) - USD ($) | 12 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Balance | $ 6,841,000 | $ 13,427,000 |
Acquisitions of receivable portfolio | 2,214,000 | |
Net cash collections from collection of consumer receivables acquired for liquidation | (18,551,000) | (23,331,000) |
Net cash collections represented by account sales of consumer receivables acquired for liquidation | (3,000) | (197,000) |
Impairment | (310,000) | (1,129,000) |
Effect of foreign currency translation | (91,000) | (62,000) |
Finance income recognized | 15,863,000 | 15,920,000 |
Balance | $ 3,749,000 | $ 6,841,000 |
Finance income as a percentage of collections | 85.50% | 67.70% |
Note 4 - Consumer Receivables_5
Note 4 - Consumer Receivables Acquired for Liquidation - Collections Received Less Commissions and Direct Costs (Details) - USD ($) | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | ||
Gross collections(1) | [1] | $ 35,512,000 | $ 42,456,000 |
Less: commissions and fees(2) | [2] | 16,958,000 | 18,928,000 |
Net collections | $ 18,554,000 | $ 23,528,000 | |
[1] | Gross collections include collections from third-party collection agencies and attorneys, collections from in-house efforts and collections represented by account sales. | ||
[2] | Commissions are earned by third party collection agencies and attorneys, and include direct costs associated with the collection effort, generally court costs. In December 2007 an arrangement was consummated with one servicer who also received a 3% fee on gross collections received by the Company in connection with the related portfolio purchase. The fee is charged for asset location, skip tracing and ultimately suing debtors in connection with this portfolio purchase. |
Note 5 - Equity Method Invest_3
Note 5 - Equity Method Investments (Details Textual) - USD ($) | Jan. 12, 2018 | Jan. 12, 2018 | Jun. 30, 2017 | Jun. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 28, 2011 |
Equity Method Investments | $ 236,000 | $ 50,474,000 | |||||
Gain (Loss) on Acquisition of Minority Interest | (1,420,000) | ||||||
Income (Loss) from Equity Method Investments, Total | $ 750,000 | 4,619,000 | |||||
Serlefin BPO&O Peru S.A.C. [Member] | |||||||
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest | 49.00% | ||||||
Three Individuals [Member] | |||||||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 51.00% | ||||||
Pegasus Legal Funding LLC [Member] | |||||||
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests | $ 1,800,000 | ||||||
Noncontrolling Interest, Ownership Percentage by Parent | 100.00% | 100.00% | |||||
Gain (Loss) on Acquisition of Minority Interest | $ 1.40 | ||||||
Pegasus Legal Funding LLC [Member] | |||||||
Business Acquisition, Percentage of Voting Interests Acquired | 20.00% | 20.00% | |||||
Pegasus Funding LLC [Member] | |||||||
Business Acquisition, Percentage of Voting Interests Acquired | 20.00% | 20.00% | |||||
Pegasus Legal Funding LLC [Member] | |||||||
Equity Method Investment, Ownership Percentage | 80.00% | 80.00% | 80.00% | ||||
Earnings in Interest and Fees from Invested Venture | $ 800,000 | $ 5,100,000 | $ 9,800,000 | ||||
Equity Method Investments | $ 52,700,000 | 52,700,000 | 50,500,000 | ||||
Equity Method Investment Summarized Financial Information, Due to Related Party | $ 32,700,000 | $ 32,700,000 | 31,700,000 | ||||
Restricted Cash, Total | $ 35,400,000 | ||||||
Serlefin BPO&O Peru S.A.C. [Member] | |||||||
Equity Method Investment, Ownership Percentage | 80.00% | ||||||
Equity Method Investment, Ownership Percentage, Controlled Party | 20.00% | ||||||
Noninterest Expense Related to Performance Fees | $ 400,000 | 600,000 | |||||
Income (Loss) from Equity Method Investments, Total | 200,000 | ||||||
Serlefin BPO&O Peru S.A.C. [Member] | Other Assets [Member] | |||||||
Equity Method Investment, Carrying Amount | $ 200,000 | $ 200,000 |
Note 5 - Equity Method Invest_4
Note 5 - Equity Method Investments - Assets Acquired and Liabilities Assumed (Details) - Pegasus Legal Funding LLC [Member] | Jan. 12, 2018USD ($) |
Cash | $ 5,748,000 |
Personal injury claim advances portfolio | 14,571,000 |
Accounts payable and accrued expenses | (664,000) |
Total net assets acquired | $ 19,655,000 |
Note 5 -Equity Method Investmen
Note 5 -Equity Method Investments - Equity Method Investments Financial Statements (Details) - USD ($) | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | ||
Pegasus Legal Funding LLC [Member] | |||
Personal injury claims income | $ 671,000 | $ 11,554,000 | |
Operating expenses | (386,000) | 5,780,000 | |
Income from operations | 1,057,000 | 5,774,000 | |
Earnings from equity method investment | 845,000 | 4,619,000 | |
Pegasus Funding LLC [Member] | |||
Cash | [1] | 35,631,000 | |
Investment in personal injury claims | 16,855,000 | ||
Other assets | 109,000 | ||
Total Assets | 52,595,000 | ||
Current liabilities | 31,677,000 | ||
Non-current liabilities | 1,952,000 | ||
Equity | 18,966,000 | ||
Total Liabilities and Equity | $ 52,595,000 | ||
[1] | Included in cash is $35.4 million in restricted cash. The restriction was been put in place during the Company’s arbitration with PLF. |
Note 6 - Personal Injury Clai_3
Note 6 - Personal Injury Claims Funding (Details Textual) - USD ($) | 12 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Personal Injury Claims Income | $ 1,084,000 | $ 434,000 |
Personal Injury Claims, Net Reserve | 7,100,000 | 7,000,000,000 |
Simia Capital LLC [Member] | ||
Personal Injury Claims Assets | 2,400,000 | 3,400,000 |
Personal Injury Claims Income | $ 400,000 | $ 400,000 |
Note 6 - Personal Injury Clai_4
Note 6 - Personal Injury Claims Funding - Personal Claims Funding (Details) - USD ($) | 12 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Balance, beginning of period | $ 3,704,000 | |
Acquisition of personal injury funding portfolio (1) | 14,571,000 | |
Personal claim advances | 60,000 | 4,077,000 |
Provision for losses | (516,000) | (7,000) |
(Write offs) recoveries | 17,000 | (15,000) |
Personal injury claims income | 1,084,000 | 434,000 |
Personal injury claims receipts | (8,175,000) | (785,000) |
Balance, end of period | $ 10,745,000 | $ 3,704,000 |
Note 7 - Matrimonial Claims (De
Note 7 - Matrimonial Claims (Details Textual) - USD ($) | May 18, 2012 | May 08, 2012 | Mar. 31, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2014 | May 02, 2014 |
Line of Credit Facility, Maximum Borrowing Capacity | $ 30,000,000 | ||||||
Revolving Credit Facility [Member] | |||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 1,000,000 | $ 1,500,000 | |||||
Debt Instrument, Term | 2 years | ||||||
Line of Credit Facility, Write-off | $ 1,500,000 | ||||||
BP Case Management, LLC [Member] | |||||||
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest | 60.00% | ||||||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 40.00% | ||||||
Invested Amount in Managed Cases Reserved | $ 2,500,000 | $ 2,500,000 | |||||
Net Income (Loss) Attributable to Parent, Total | (4,000,000) | ||||||
Net Investment Income, Total | $ 0 | $ 0 |
Note 8 - Furniture and Equipm_3
Note 8 - Furniture and Equipment (Details Textual) - USD ($) | 12 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Depreciation, Total | $ 62,000 | $ 97,000 |
Note 8 - Furniture and Equipm_4
Note 8 - Furniture and Equipment - Summary of Furniture and Equipment (Details) - USD ($) | Sep. 30, 2018 | Sep. 30, 2017 |
Furniture and equipment | $ 1,921,000 | $ 1,883,000 |
Less accumulated depreciation and amortization | 1,821,000 | 1,759,000 |
100,000 | 124,000 | |
Furniture and Fixtures [Member] | ||
Furniture and equipment | 273,000 | 273,000 |
Equipment [Member] | ||
Furniture and equipment | 252,000 | 241,000 |
Software Development [Member] | ||
Furniture and equipment | $ 1,396,000 | $ 1,369,000 |
Note 9 - Note Receivable (Detai
Note 9 - Note Receivable (Details Textual) - USD ($) | Dec. 13, 2017 | Sep. 30, 2018 | Sep. 30, 2017 |
Financing Receivable, Net, Total | $ 4,313,000 | ||
CBC [Member] | |||
Disposal Group, Including Discontinued Operation, Consideration | $ 10,300,000 | ||
Disposal Group, Including Discontinued Operation, Cash Consideration | 4,500,000 | ||
Disposal Group, Including Discontinued Operation, Promissory Note Consideration | $ 5,800,000 | ||
Promissory Note Interest Rate, Discontinued Operations | 7.00% | ||
Financing Receivable, Net, Total | 4,300,000 | ||
Investment Income, Interest | $ 300,000 |
Note 10 - Settlements (Details
Note 10 - Settlements (Details Textual) - USD ($) | Jul. 12, 2020 | Jul. 12, 2019 | Jul. 12, 2018 | Sep. 30, 2018 | Sep. 30, 2017 |
Receivable, Settlement | $ 3,339,000 | ||||
Gain (Loss) Related to Litigation Settlement, Total | 4,044,000 | ||||
Lawsuit in Delaware State Court [Member] | |||||
Loss Contingency, Damages Awarded, Value | $ 4,400,000 | ||||
Litigation Settlement, Amount Awarded from Other Party | 600,000 | ||||
Litigation Settlement, Imputed Interest Rate | 8.50% | ||||
Receivable, Settlement | 3,300,000 | ||||
Gain (Loss) Related to Litigation Settlement, Total | 3,400,000 | ||||
Litigation Settlement Interest | 100,000 | ||||
Lawsuit in Delaware State Court [Member] | Scenario, Forecast [Member] | |||||
Litigation Settlement, Amount Awarded from Other Party | $ 4,400,000 | $ 2,400,000 | |||
Lawsuit Associated With the Company's Prior Purchase of a Consumer Debt Portfolio [Member] | |||||
Gain (Loss) Related to Litigation Settlement, Total | $ 600,000 |
Note 11 - Non Recourse Debt (De
Note 11 - Non Recourse Debt (Details Textual) - USD ($) | Aug. 02, 2017 | Mar. 30, 2016 | Jun. 03, 2014 | May 02, 2014 | Aug. 07, 2013 | Feb. 28, 2017 | Jun. 30, 2016 | Mar. 31, 2007 | Sep. 30, 2018 | Sep. 30, 2017 |
Portfolio Purchase | $ 300,000,000 | |||||||||
Receivables Financing Agreement Term | 3 years | |||||||||
Percentage of Ownership in Subsidiaries | 100.00% | |||||||||
Prepayment Fees | $ 15,000,000 | |||||||||
Receivable Finance Agreement, Portfolio Purchase Collections, Percentage | 30.00% | |||||||||
Debt Instrument, Final Principal Payment | $ 2,900,000 | |||||||||
Voluntary Debt Prepayment | 1,900,000 | |||||||||
Receivable Finance Agreement, Collections from Portfolio Purchase | $ 16,900,000 | $ 16,900,000 | ||||||||
Line of Credit Facility, Current Borrowing Capacity | $ 20,000,000 | |||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 30,000,000 | |||||||||
Line of Credit Facility, Expiration Period | 3 years | |||||||||
Debt Instrument, Basis Spread on Variable Rate | 2.75% | |||||||||
Line of Credit Facility, Covenant Consolidated Tangible Net Worth | $ 150,000,000 | |||||||||
Amended Loan Agreement [Member] | ||||||||||
Debt Instrument, Basis Spread on Variable Rate | 2.25% | |||||||||
Line of Credit Facility, Covenant Consolidated Tangible Net Worth | $ 100,000,000 | |||||||||
Line of Credit Facility, Covenant Decrease Consolidated Tangible Net Worth | $ 50,000,000 | |||||||||
Proceeds from Lines of Credit, Total | $ 9,600,000 | |||||||||
Restricted Cash, Total | $ 10,000,000 | |||||||||
Repayments of Long-term Lines of Credit | $ 9,600,000 | |||||||||
Long-term Line of Credit, Total | 0 | $ 0 | ||||||||
Bank of Montreal [Member] | ||||||||||
Non-Recourse Debt | $ 117,000 | $ 148,000 | ||||||||
Receivables Financing Agreement [Member] | ||||||||||
Non-Recourse Debt | $ 227,000,000 |
Note 12 - Other Liabilities - O
Note 12 - Other Liabilities - Other Liabilities (Details) - USD ($) | Sep. 30, 2018 | Sep. 30, 2017 |
Accounts payable and accrued expenses | $ 2,281,000 | $ 1,835,000 |
Lawsuit reserve (see Note 15 - Commitments and Contingencies - Legal Matters ) | 3,145,000 | |
Total other liabilities | $ 2,281,000 | $ 4,980,000 |
Note 13 - Income Taxes (Details
Note 13 - Income Taxes (Details Textual) - USD ($) | Dec. 22, 2017 | Sep. 30, 2018 | Sep. 30, 2017 |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 24.50% | 35.00% |
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability | $ 4,400,000 | ||
Deferred Tax Assets, Net of Valuation Allowance, Total | 10,940,000 | $ 12,696,000 | |
Deferred Tax Assets, Capital Loss Carryforwards | 1,724,000 | 2,597,000 | |
Deferred Tax Assets, Valuation Allowance, Total | $ 7,831,000 | $ 11,454,000 | |
Carryforward Period for State Income Tax | 20 years | ||
Unrecognized Tax Benefits, Ending Balance | $ 0 | ||
Foreign Tax Authority [Member] | |||
Operating Loss Carryforwards, Total | 2,200,000 | ||
New Jersey Division of Taxation [Member] | State and Local Jurisdiction [Member] | |||
Operating Loss Carryforwards, Total | 73,200,000 | ||
New York State Division of Taxation and Finance [Member] | State and Local Jurisdiction [Member] | |||
Operating Loss Carryforwards, Total | 16,500,000 | ||
New York City [Member] | State and Local Jurisdiction [Member] | |||
Operating Loss Carryforwards, Total | 3,500,000 | ||
Internal Revenue Service (IRS) [Member] | Domestic Tax Authority [Member] | |||
Deferred Tax Assets, Capital Loss Carryforwards | $ 6,100,000 |
Note 13 - Income Taxes - Compon
Note 13 - Income Taxes - Components of the Provision for Income Taxes (Details) - USD ($) | 12 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Current: | ||
Federal | $ 3,709,000 | $ (5,065,000) |
State | ||
3,709,000 | (5,065,000) | |
Deferred: | ||
Federal | 1,525,000 | 2,322,000 |
State | 224,000 | 409,000 |
1,749,000 | 2,731,000 | |
Sub-total | 5,458,000 | (2,334,000) |
Less: income tax benefit on discontinued operations | (44,000) | (3,411,000) |
Provision for income taxes | $ 5,502,000 | $ 1,077,000 |
Note 13 - Income Taxes - Differ
Note 13 - Income Taxes - Difference Between Statutory Federal Income Tax Rate and Effective Income Tax Rate (Details) | Dec. 22, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Statutory federal income tax rate | 21.00% | 24.50% | 35.00% | |
State income tax, net of federal benefit | 2.30% | (2.70%) | ||
Permanent difference in municipal interest | (1.10%) | 1.30% | ||
Permanent difference other | (4.10%) | |||
Change in valuation allowance | (12.10%) | (14.00%) | ||
Impact of the Tax Act (1) | [1] | 46.30% | ||
Other | (2.50%) | (0.30%) | ||
Effective income tax rate | 57.40% | 15.20% | ||
[1] | The revaluation of the Company's deferred tax assets and liabilities due to the lower corporate tax rate established by the Tax Act resulted in $4.4 million of tax expense during the year ended September 30, 2018. |
Note 13 - Income Taxes - Schedu
Note 13 - Income Taxes - Schedule of Net Deferred Tax Assets (Details) - USD ($) | Sep. 30, 2018 | Sep. 30, 2017 |
Impairments/bad debt reserves | $ 328,000 | $ 4,380,000 |
Revenue recognition pertaining to the cost over estimated collections method | 6,312,000 | 8,572,000 |
State tax net operating loss carry forward | 7,421,000 | 9,603,000 |
Stock based compensation | 2,367,000 | 3,520,000 |
Unrealized gain on structured settlements | (5,187,000) | |
Capital loss carry forward | 1,724,000 | 2,597,000 |
Foreign currency | 404,000 | 472,000 |
Depreciation, amortization and other | 215,000 | 193,000 |
Deferred income taxes | 18,771,000 | 24,150,000 |
Deferred tax valuation allowance | (7,831,000) | (11,454,000) |
Deferred income taxes | $ 10,940,000 | $ 12,696,000 |
Note 14 - Net Income Per Shar_2
Note 14 - Net Income Per Share - Computation of Basic and Diluted Per Share Data (Details) - USD ($) | 12 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Income (loss) from continuing operations | $ 4,137,000 | $ (8,382,000) |
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent, Total | (80,000) | (4,620,000) |
Net income (loss) | $ 4,057,000 | $ (13,002,000) |
Basic earnings (loss) per common share from continuing operations (in dollars per share) | $ 0.62 | $ (0.97) |
Basic loss per common share from discontinued operations (in dollars per share) | (0.01) | (0.53) |
Basic earnings (loss) per share (in dollars per share) | 0.61 | (1.50) |
Diluted earnings (loss) per common share from continuing operations (in dollars per share) | 0.62 | (0.97) |
Diluted loss per common share from discontinuing operations (in dollars per share) | (0.01) | (0.53) |
Diluted earnings (loss) per share (in dollars per share) | $ 0.61 | $ (1.50) |
Weighted average number of common shares outstanding: | ||
Basic (in shares) | 6,662,600 | 8,692,668 |
Dilutive effect of stock options (in shares) | 2,241 | |
Diluted (in shares) | 6,664,841 | 8,692,668 |
Note 15 - Commitments and Con_3
Note 15 - Commitments and Contingencies (Details Textual) - USD ($) | Jan. 23, 2018 | Nov. 24, 2017 | Nov. 11, 2016 | Sep. 30, 2016 | Mar. 10, 2016 | Jul. 24, 2015 | Mar. 31, 2016 | Sep. 30, 2018 | Sep. 30, 2017 |
Operating Leases, Rent Expense, Total | $ 324,000 | $ 360,000 | |||||||
Violation of Federal Fair Debt Collection Practice Act and Racketeer Influenced and Corrupt Organization Act [Member] | |||||||||
Litigation Settlement, Amount Awarded to Other Party | $ 39,000 | ||||||||
Litigation Settlement, Amount Offered, Consideration | $ 3,900,000 | ||||||||
Violation of Federal Fair Debt Collection Practice Act and Racketeer Influenced and Corrupt Organization Act [Member] | General and Administrative Expense [Member] | |||||||||
Litigation Settlement, Expense | $ 2,300,000 | $ 300,000 | $ 2,000,000 | ||||||
Violation of Federal Fair Debt Collection Practice Act and Racketeer Influenced and Corrupt Organization Act [Member] | Individual Basis for a Payment to each Plaintiff [Member] | |||||||||
Litigation Settlement, Amount Awarded to Other Party | $ 13,000 | ||||||||
Global Settlement [Member] | |||||||||
Litigation Settlement, Amount Awarded to Other Party | $ 4,600,000 | ||||||||
Lawsuit in Montana State Court [Member] | |||||||||
Payments for Legal Settlements | $ 800,000 | ||||||||
Chief Executive Officer [Member] | Simia Capital LLC [Member] | |||||||||
Employment Agreement Term | 5 years | ||||||||
Employment Agreement, Severance, Years of Base Salary | 2 years | ||||||||
Executive Vice President [Member] | |||||||||
Employment Agreement, Annual Base Salary | $ 275,000 | ||||||||
Term of Non-compete and Non-solicitation Provision | 18 years | ||||||||
Agreement Period Term | 1 year |
Note 15 - Commitments and Con_4
Note 15 - Commitments and Contingencies - Schedule of Future Minimum Lease Payments (Details) | Sep. 30, 2018USD ($) |
2,019 | $ 265,000 |
2,020 | 224,000 |
$ 489,000 |
Note 16 - Concentrations (Detai
Note 16 - Concentrations (Details Textual) | 12 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Supplier Concentration Risk [Member] | Consumer Receivable Portfolio [Member] | Five Collection Organizations [Member] | ||
Concentration Risk, Percentage | 31.00% | 35.00% |
Supplier Concentration Risk [Member] | Consumer Receivable Portfolio at All Third Party Collection Agencies and Attorneys [Member] | Five Collection Organizations [Member] | ||
Concentration Risk, Percentage | 87.00% | 90.00% |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Consumer Portfolio 1 [Member] | ||
Concentration Risk, Percentage | 20.00% | 18.00% |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Consumer Portfolio 2 [Member] | ||
Concentration Risk, Percentage | 11.00% | 10.00% |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Consumer Portfolio 3 [Member] | ||
Concentration Risk, Percentage | 11.00% | 10.00% |
Customer Concentration Risk [Member] | Assets, Total [Member] | ||
Concentration Risk, Percentage | 24.00% |
Note 17 - Stock Option Plans (D
Note 17 - Stock Option Plans (Details Textual) | Jun. 08, 2017shares | Sep. 30, 2018USD ($)shares | Sep. 30, 2017USD ($)shares | Sep. 30, 2018USD ($)shares | Mar. 21, 2012shares | Mar. 05, 2012shares | Mar. 01, 2006shares | May 01, 2002shares |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 56,600 | 0 | 56,600 | |||||
Allocated Share-based Compensation Expense, Total | $ | $ 106,000 | $ 58,000 | ||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total | $ | $ 7,000 | $ 7,000 | ||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 73 days | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ | $ 1,200 | 1,200 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | $ | 1,200 | 1,200 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ | $ 265,000 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 61,600 | 0 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Fair Value | $ | $ 664,000 | |||||||
Proceeds from Stock Options Exercised | $ | $ 399,000 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term | 3 years 292 days | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value | $ | $ 258,000 | 685,000 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Total Fair Value | $ | 371,000 | |||||||
Share-based Compensation Award, Tranche Two [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares | 10,000 | |||||||
Share-based Compensation Award, Tranche Three [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares | 10,000 | |||||||
Share-based Compensation Award, Tranche Four [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares | 26,600 | |||||||
Restricted Stock [Member] | ||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total | $ | 0 | 0 | $ 0 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Total Fair Value | $ | $ 0 | $ 0 | ||||||
Employee Stock Option [Member] | Share-based Compensation Award, Tranche Four [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |||||||
The 2012 Plan [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 2,000,000 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 540,800 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period | 109,768 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 1,323,343 | 1,323,343 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Eligible Employees | 60 | 60 | ||||||
The 2012 Plan [Member] | Restricted Stock [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 245,625 | |||||||
Equity Compensation Plan [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 1,000,000 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 0 | |||||||
The 2002 Plan [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 1,000,000 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 0 |
Note 17 - Stock Option Plans -
Note 17 - Stock Option Plans - Weighted Average Assumptions Used in Option Pricing Model (Details) | Jun. 08, 2017 |
Risk-free interest rate | 1.86% |
Expected term (Year) | 5 years 354 days |
Expected volatility | 26.27% |
Forfeiture rate | 3.49% |
Dividend yield | 0.00% |
Note 17 - Stock Option Plans _2
Note 17 - Stock Option Plans - Summary of Stock Option Plans (Details) - $ / shares | Jun. 08, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Oct. 01, 2017 | Oct. 01, 2016 |
Outstanding options at the beginning of year (in shares) | 880,567 | 949,667 | |||
Options Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 8.17 | $ 8.05 | $ 8.05 | $ 8.47 | |
Options granted, shares (in shares) | 56,600 | 0 | 56,600 | ||
Options granted (in dollars per share) | $ 6.55 | ||||
Options forfeited/cancelled, shares (in shares) | (90,100) | (125,700) | |||
Options forfeited/cancelled (in dollars per share) | $ 8.11 | $ 10.59 | |||
Options exercised, shares (in shares) | (61,600) | 0 | |||
Options exercised (in dollars per share) | $ 6.48 | ||||
Outstanding options at the end of year (in shares) | 728,867 | 880,567 | |||
Options Exercisable, Number of Shares Exercisable (in shares) | 710,694 | 796,962 | |||
Options Exercisable, Weighted Average Exercise Price (in dollars per share) | $ 8.18 | $ 8.14 |
Note 17 - Stock Option Plans _3
Note 17 - Stock Option Plans - Summary of Outstanding Options (Details) - $ / shares | 12 Months Ended | ||||
Sep. 30, 2018 | Oct. 01, 2017 | Sep. 30, 2017 | Oct. 01, 2016 | Sep. 30, 2016 | |
Options Outstanding, Number of Shares Outstanding (in shares) | 728,867 | 880,567 | 949,667 | ||
Options Outstanding, Weighted Average Remaining Contractual Life (Year) | 3 years 292 days | ||||
Options Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 8.17 | $ 8.05 | $ 8.05 | $ 8.47 | |
Options Exercisable, Number of Shares Exercisable (in shares) | 710,694 | 796,962 | |||
Options Exercisable, Weighted Average Exercise Price (in dollars per share) | $ 8.18 | $ 8.14 | |||
Range One [Member] | |||||
Range of Exercise Price, Lower (in dollars per share) | 2.8751 | ||||
Range of Exercise Price, Upper (in dollars per share) | $ 5.75 | ||||
Options Outstanding, Number of Shares Outstanding (in shares) | 1,200 | ||||
Options Outstanding, Weighted Average Remaining Contractual Life (Year) | 219 days | ||||
Options Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 2.95 | ||||
Options Exercisable, Number of Shares Exercisable (in shares) | 1,200 | ||||
Options Exercisable, Weighted Average Exercise Price (in dollars per share) | $ 2.95 | ||||
Range Two [Member] | |||||
Range of Exercise Price, Lower (in dollars per share) | 5.7501 | ||||
Range of Exercise Price, Upper (in dollars per share) | $ 8.625 | ||||
Options Outstanding, Number of Shares Outstanding (in shares) | 618,167 | ||||
Options Outstanding, Weighted Average Remaining Contractual Life (Year) | 3 years 255 days | ||||
Options Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 7.97 | ||||
Options Exercisable, Number of Shares Exercisable (in shares) | 599,994 | ||||
Options Exercisable, Weighted Average Exercise Price (in dollars per share) | $ 7.97 | ||||
Range Three [Member] | |||||
Range of Exercise Price, Lower (in dollars per share) | 8.6251 | ||||
Range of Exercise Price, Upper (in dollars per share) | $ 11.50 | ||||
Options Outstanding, Number of Shares Outstanding (in shares) | 109,500 | ||||
Options Outstanding, Weighted Average Remaining Contractual Life (Year) | 4 years 109 days | ||||
Options Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 9.37 | ||||
Options Exercisable, Number of Shares Exercisable (in shares) | 109,500 | ||||
Options Exercisable, Weighted Average Exercise Price (in dollars per share) | $ 9.37 |
Note 18 - Stockholders' Equity
Note 18 - Stockholders' Equity (Details Textual) - USD ($) | Feb. 28, 2018 | Feb. 05, 2018 | May 05, 2017 | Sep. 30, 2018 | Sep. 30, 2017 |
Preferred Stock, Shares Authorized | 5,000,000 | 5,000,000 | |||
Preferred Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 | |||
Preferred Stock, Shares Issued, Total | 0 | 0 | |||
Preferred Stock, Shares Outstanding, Ending Balance | 0 | 0 | |||
Dividends Payable, Date Declared | Feb. 5, 2018 | ||||
Dividends Payable, Amount Per Share | $ 5.30 | ||||
Dividends Payable, Date to be Paid | Feb. 28, 2018 | ||||
Dividends Payable, Date of Record | Feb. 16, 2018 | ||||
Payments of Dividends, Total | $ 35,400,000 | $ 35,352,000 | |||
Dividends, Rights Offered for Each Issued and Outstanding Share of Stock | 1 | ||||
Minimum Number of Days After Obtaining Beneficial Ownership Percentage for Rights to Become Exercisable | 10 days | ||||
Minimum Beneficial Ownership Percentage of Common Stock Required for Rights to Become Exercisable | 10.00% | ||||
Number of Days After Tender or Exchange Offer Resulting in New Ownership for Rights to Become Exercisable | 10 days | ||||
Multiple Used to Determine Market Value | 2 | ||||
Rights, Redemption Price Per Share | $ 0.01 | ||||
Number of Shares Common Stock Given in Exchange for One Right if Under New Ownership | 1 | ||||
Series A Junior Participating Preferred Stock [Member] | |||||
Preferred Stock, Shares Authorized | 30,000 | 30,000 | |||
Preferred Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 | |||
Preferred Stock, Shares Issued, Total | 0 | 0 | |||
Preferred Stock, Shares Outstanding, Ending Balance | 0 | 0 | |||
Right [Member] | |||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right | 0.001 | ||||
Right [Member] | Series A Junior Participating Preferred Stock [Member] | |||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 28.60 |
Note 19 - Retirement Plan (Deta
Note 19 - Retirement Plan (Details Textual) - USD ($) | 12 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 127,000 | $ 139,000 |
Note 20 - Fair Value of Finan_3
Note 20 - Fair Value of Financial Measurements and Disclosures (Details Textual) - CBC [Member] - USD ($) | 12 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Structured Settlements, Unrealized Gain (Losses) | $ 200,000 | $ 4,300,000 |
Structured Settlements, Gain on New Structured Settlements Financed | $ 200,000 | 6,900,000 |
Unrealized Gain (Loss) on Structured Settlements Due to Change in Discount Rate | 200,000 | |
Structured Settlements, Unrealized Gain (Loss), Decrease in Realized Gains Recognized as Realized Interest Income on Structured Settlements | 2,100,000 | |
Structured Settlements, Reduction in Fair Value | $ 700,000 |
Note 20 - Fair Value of Finan_4
Note 20 - Fair Value of Financial Measurements and Disclosures - Fair Value of Financial Measurements (Details) - USD ($) | Sep. 30, 2018 | Sep. 30, 2017 |
Available-for-sale investments (Level 1) | $ 38,054,000 | $ 5,511,000 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash equivalents (Level 1) | 1,786,000 | 68,000 |
Available-for-sale investments (Level 1) | 38,054,000 | 5,511,000 |
Structured settlements (Level 3) | 86,971,000 | |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Consumer receivables acquired for liquidation (Level 3) | 3,749,000 | 6,841,000 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash equivalents (Level 1) | 1,786,000 | 68,000 |
Available-for-sale investments (Level 1) | 38,054,000 | 5,511,000 |
Structured settlements (Level 3) | 86,971,000 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Consumer receivables acquired for liquidation (Level 3) | $ 27,574,000 | $ 32,603,000 |
Note 20 - Fair Value of Finan_5
Note 20 - Fair Value of Financial Measurements and Disclosures - Changes in Financial Instruments at Fair Value Using Significant Unobservable Inputs (Details) | 12 Months Ended |
Sep. 30, 2018USD ($) | |
Structured Settlements, Balance | $ 86,971,000 |
Structured settlements sold in conjunction with sale of CBC on December 13, 2017 | (86,971,000) |
Structured Settlements, Balance |
Note 20 - Fair Value of Finan_6
Note 20 - Fair Value of Financial Measurements and Disclosures - Schedule of Realized and Unrealized Gains and Losses (Details) | 12 Months Ended |
Sep. 30, 2018USD ($) | |
Total gains included in the year ended September 30, 2018 | $ 244,000 |
Change in unrealized gains (losses) relating to assets held at September 30, 2018 |
Note 21 - Related Party Trans_2
Note 21 - Related Party Transactions (Details Textual) - USD ($) | Sep. 17, 2015 | Jun. 30, 2015 | Sep. 30, 2018 | Sep. 30, 2017 |
Payments to Acquire Productive Assets, Total | $ 38,000 | $ 25,000 | ||
Louis Piccolo [Member] | ||||
Consulting Agreement Period | 2 years | |||
Contractual Obligation, Total | $ 80,000 | |||
Professional Fees | 0 | 80,000 | ||
Louis Piccolo [Member] | Other Liabilities [Member] | ||||
Due to Related Parties, Total | 0 | 66,000 | ||
Louis Piccolo [Member] | Pegasus Funding LLC [Member] | ||||
Related Party Transaction, Amounts of Transaction | 33,000 | 133,000 | ||
Louis Piccolo [Member] | Pegasus Funding LLC [Member] | Professional Fees Incurred by a Related Party [Member] | ||||
Due to Related Parties, Term | 9 years | |||
Louis Piccolo [Member] | Pegasus Funding LLC [Member] | Interest Based on Professional Fees [Member] | ||||
Related Party Transaction, Rate | 4.00% | |||
Louis Piccolo [Member] | Maximum [Member] | Pegasus Funding LLC [Member] | ||||
Professional Fees | $ 700,000 | |||
Fortress Funding, LLC [Member] | ||||
Obligation Settlement, Gain (Loss) Recognized | 0 | 0 | ||
Fortress Funding, LLC [Member] | Conversion of Customers From The Acquired Lists [Member] | ||||
Payments to Acquire Productive Assets, Total | $ 0 | $ 203,000 | ||
Fortress Funding, LLC [Member] | CBC [Member] | ||||
Assets Purchase Agreement, Consideration Transferred | $ 500,000 | |||
Fortress Funding, LLC [Member] | CBC [Member] | Conversion of Customers From The Acquired Lists [Member] | ||||
Assets Purchase Agreement, Contingent Consideration | $ 1,200,000 |
Note 22 - Segment Reporting (De
Note 22 - Segment Reporting (Details Textual) - USD ($) | 12 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | $ 3,749,000 | $ 6,841,000 |
Disposal Group, Including Discontinued Operation, Assets, Total | 92,235,000 | |
Gain (Loss) Related to Litigation Settlement, Total | 4,044,000 | |
Other Income [Member] | ||
Gain (Loss) Related to Litigation Settlement, Total | 4,000,000 | |
CBC [Member] | ||
Disposal Group, Including Discontinued Operation, Assets, Total | 0 | $ 92,200,000 |
Corporate, Non-Segment [Member] | CBC [Member] | ||
Disposal Group, Including Discontinued Operation, Assets, Total | 92,800,000 | |
Colombia and Peru [Member] | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | $ 3,300,000 |
Note 22 - Segment Reporting - S
Note 22 - Segment Reporting - Schedule of Segment Reporting (Details) - USD ($) | 12 Months Ended | ||||
Sep. 30, 2018 | Sep. 30, 2017 | ||||
Revenues | $ 21,545,000 | $ 21,439,000 | |||
Other income (5) | 4,500,000 | [1] | (100,000) | ||
Segment profit (loss) | 9,600,000 | (7,300,000) | |||
Segment Assets (1) | 86,315,000 | 201,538,000 | |||
Operating Segments [Member] | Consumer Receivables [Member] | |||||
Revenues | 15,900,000 | 15,900,000 | |||
Other income (5) | 4,000,000 | [1] | |||
Segment profit (loss) | 17,800,000 | 12,500,000 | |||
Segment Assets (1) | [2] | 12,400,000 | 20,400,000 | [3],[4],[5] | |
Operating Segments [Member] | GAR Disability Advocates [Member] | |||||
Revenues | 4,600,000 | 5,100,000 | |||
Other income (5) | [1] | ||||
Segment profit (loss) | 1,100,000 | (1,700,000) | |||
Segment Assets (1) | [2] | 1,000,000 | 3,900,000 | [3],[4],[5] | |
Operating Segments [Member] | Personal Injury Claims [Member] | |||||
Revenues | [5] | 1,100,000 | 400,000 | ||
Other income (5) | [5] | [1] | |||
Segment profit (loss) | [5] | 1,100,000 | 4,100,000 | ||
Segment Assets (1) | [2] | 11,900,000 | 55,000,000 | [3],[4],[5] | |
Corporate, Non-Segment [Member] | |||||
Revenues | [3] | ||||
Other income (5) | [3] | 500,000 | [1] | (100,000) | |
Segment profit (loss) | [3] | (10,400,000) | (22,200,000) | ||
Segment Assets (1) | [2] | $ 61,000,000 | $ 122,200,000 | [3],[4],[5] | |
[1] | Included in other income is approximately $4.0 million in gain on settlements. See Note 10 - Settlements. | ||||
[2] | Includes other amounts in other line items on the consolidated balance sheet. | ||||
[3] | Corporate is not part of the three reportable segments, as certain expenses and assets are not earmarked to any specific operating segment. | ||||
[4] | Included in Corporate are approximately $92.8 million of assets related to discontinued operations as of September 30, 2017. | ||||
[5] | The Company recorded Pegasus as an equity investment in its consolidated financial statements through January 12, 2018. Commencing on January 13, 2018, Sylvave is consolidated in the Company’s financial statements. For segment reporting the Company has included its pro-rated share of the earnings and losses from its investment under the Personal Injury Claims segment. |
Note 23 - Accumulated Other C_3
Note 23 - Accumulated Other Comprehensive Income (Loss) - Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) | 12 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Balance | $ 114,807,000 | $ 181,783,000 |
Change in unrealized gains (losses) on marketable securities | (17,000) | (10,000) |
Net current-period other comprehensive income | 17,000 | (785,000) |
Balance | 84,034,000 | 114,807,000 |
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | ||
Balance | 7,000 | 624,000 |
Change in unrealized gains (losses) on foreign currency translation, net | ||
Change in unrealized gains (losses) on marketable securities | (17,000) | (10,000) |
Amount reclassified from accumulated other comprehensive income | (607,000) | |
Net current-period other comprehensive income | (17,000) | (617,000) |
Balance | (10,000) | 7,000 |
Accumulated Foreign Currency Adjustment Attributable to Parent [Member] | ||
Balance | 11,000 | 179,000 |
Change in unrealized gains (losses) on foreign currency translation, net | 34,000 | (168,000) |
Change in unrealized gains (losses) on marketable securities | ||
Amount reclassified from accumulated other comprehensive income | ||
Net current-period other comprehensive income | 34,000 | (168,000) |
Balance | 45,000 | 11,000 |
AOCI Attributable to Parent [Member] | ||
Balance | 18,000 | 803,000 |
Change in unrealized gains (losses) on foreign currency translation, net | 34,000 | (168,000) |
Change in unrealized gains (losses) on marketable securities | (17,000) | (10,000) |
Amount reclassified from accumulated other comprehensive income | (607,000) | |
Net current-period other comprehensive income | 17,000 | (785,000) |
Balance | $ 35,000 | $ 18,000 |