Wright Investors' Service (IWSH) 10-K 23 Mar 15 2014 FY Annual report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
	Dec. 31, 2014	Mar. 10, 2015	Jun. 30, 2014
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	FALSE
Document Period End Date	31-Dec-14
Entity Registrant Name	Wright Investors Service Holdings, Inc.
Entity Central Index Key	1279715
Current Fiscal Year End Date	-19
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2014
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		18,494,129
Entity Current Reporting Status	Yes
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Public Float			$22,000,000

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	12 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Revenues
Investment management services	$2,600	$2,663
Other investment advisory services	2,600	2,632
Financial research and related data	620	559
Total revenues	5,820	5,854
Expenses
Compensation and benefits	5,108	5,423
Other operating	4,036	4,203
Total expenses	9,144	9,626
Operating loss	-3,324	-3,772
Investment and other expense, net	-56	-77
Gain on sale of investment in MXL	719
Change in fair value of liability for contingent consideration	-66	-85
Loss from continuing operations before income taxes	-2,727	-3,934
Income tax (expense) benefit	172	-30
Loss from continuing operations	-2,555	-3,964
Income (loss) from discontinued operations, net of taxes	315	-2,811
Net loss	($2,240)	($6,775)
Basic and diluted loss per share
Continuing operations	($0.14)	($0.21)
Discontinued operations	$0.02	($0.15)
Net loss	($0.12)	($0.36)

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Current assets
Cash and cash equivalents	$11,163	$12,566
Short-term investments	154	132
Accounts receivable, net	336	322
Prepaid income taxes	12	16
Prepaid expenses and other current assets	451	393
Total current assets	12,116	13,429
Property and equipment, net	40	49
Intangible assets, net	3,281	3,918
Goodwill	3,364	3,364
Investment in undeveloped land	355	355
Other assets	108	325
Total assets	19,264	21,440
Current liabilities
Accounts payable and accrued expenses	1,116	1,402
Deferred revenue	12	14
Liability for contingent consideration	572
Current portion of officers retirement bonus liability	160	100
Total current liabilities	1,860	1,516
Liability for contingent consideration		506
Officers retirement bonus liability, net of current portion	698	802
Total liabilities	2,558	2,824
Stockholders' equity
Preferred stock, par value $0.01 per share, authorized 10,000,000 shares; none issued
Common stock, par value $0.01 per share, authorized 30,000,000 shares; issued 19,059,198 in 2014 and 19,040,416 in 2013, outstanding 18,494,129 in 2014 and 18,475,347 in 2013	191	190
Additional paid-in capital	33,440	33,111
Accumulated deficit	-15,566	-13,326
Treasury stock, at cost (565,069 shares in 2014 and 2013)	-1,359	-1,359
Total stockholders' equity	16,706	18,616
Total liabilities and stockholders' equity	$19,264	$21,440

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Dec. 31, 2014	Dec. 31, 2013
CONSOLIDATED BALANCE SHEETS [Abstract]
Preferred stock, par value	$0.01	$0.01
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, issued
Common stock, par value	$0.01	$0.01
Common stock, shares authorized	30,000,000	30,000,000
Common stock, issued	19,059,198	19,040,416
Common stock, outstanding	18,494,129	18,475,347
Treasury stock, shares	565,069	565,069

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities
Net loss	($2,240)	($6,775)
Adjustments to reconcile net loss to cash used in operating activities:
Depreciation and amortization	659	655
Gain on sale of investment in MXL	-719
Change in liability for contigent consideration	66	85
Equity based compensation, including issuance of stock to directors	330	323
Changes in other operating items:
Accounts receivables	-14	140
Short-term investments	-22	58
Deferred revenue	-2	-2
Officers retirement bonus liability	-44	21
Prepaid income tax	4	24
Income tax payable		-227
Prepaid expenses and other current assets	-116	-131
Accounts payable and accrued expenses	-286	-473
Net cash used in operating activities	-2,384	-6,302
Cash flows from investing activities
Proceeds from sale of investment in MXL	994
Additions to property and equipment	-13	-15
Net cash provided by (used in) investing activities	981	-15
Net decrease in cash and cash equivalents	-1,403	-6,317
Cash and cash equivalents at the beginning of the year	12,566	18,883
Cash and cash equivalents at the end of the year	11,163	12,566
Net cash paid during the period for
Income taxes	$31	$20

CONSOLIDATED_STATEMENT_OF_CHAN

CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (USD $)	Total	Common Stock [Member]	Additional paid-in capital [Member]	Accumulated deficit [Member]	Treasury stock, at cost [Member]
In Thousands, except Share data
Balance at Dec. 31, 2012	$25,068	$190	$32,788	($6,551)	($1,359)
Balance, shares at Dec. 31, 2012		19,034,834
Net loss	-6,775			-6,775
Equity based compensation expense	310		310
Issuance of common stock to directors	13		13
Issuance of common stock to directors, shares		5,582
Balance at Dec. 31, 2013	18,616	190	33,111	-13,326	-1,359
Balance, shares at Dec. 31, 2013		19,040,416
Net loss	-2,240			-2,240
Equity based compensation expense	298		298
Issuance of common stock to directors	32	1	31
Issuance of common stock to directors, shares		18,782
Balance at Dec. 31, 2014	$16,706	$191	$33,440	($15,566)	($1,359)
Balance, shares at Dec. 31, 2014		19,059,198

Description_of_activities

Description of activities	12 Months Ended
	Dec. 31, 2014
Description of activities [Abstract]
Description of activities	1.	Description of activities
	On February 4, 2013, National Patent Development Corporation changed its name to Wright Investors' Service Holdings, Inc. (hereinafter referred to as the “Company” or “Wright Holdings”).
	On January 15, 2010, the Company completed the sale to The Merit Group, Inc. (“Merit”) of all of the issued and outstanding stock of the Company's wholly-owned subsidiary, Five Star Products, Inc., the holding company and sole stockholder of Five Star Group, Inc., for cash.   Upon the consummation of the sale, the Company became a “shell company”, as defined in Rule 12b-2 of the Securities Exchange Act of 1934, as amended.  As used herein, references to “Five Star” refer to Five Star Products Inc. or Five Star Group Inc., or both, as the context requires.
	On December 19, 2012 (the “Closing Date”), the Company, completed the acquisition of The Winthrop Corporation, a Connecticut corporation (“Winthrop”) pursuant to that certain  Agreement and Plan of Merger (the “Merger Agreement”) dated June 18, 2012. Winthrop, through its wholly-owned subsidiaries Wright Investors' Service, Inc. (“Wright”), Wright Investors' Service Distributors, Inc. (“WISDI”) and Wright's wholly-owned subsidiary, Wright Private Asset Management, LLC (“WPAM”) (collectively, the “Wright Companies”), offers investment management services,  financial advisory services and investment research to large and small investors, both taxable and tax exempt.  WISDI is a registered broker dealer with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and the Securities and Exchange Commission.  In accordance with the Merger Agreement, a wholly-owned newly formed subsidiary of the Company, was merged with and into Winthrop and Winthrop became a wholly-owned subsidiary of the Company.

Summary_of_significant_account

Summary of significant accounting policies	12 Months Ended
	Dec. 31, 2014
Summary of significant accounting policies [Abstract]
Summary of significant accounting policies	2.	Summary of significant accounting policies
	Principles of consolidation.
	The consolidated financial statements include the accounts of the Company and its subsidiaries all of which are wholly-owned. All significant intercompany accounts and transactions have been eliminated in consolidation.
	Reclassification
	The Company has reclassified $5,423,000 of  Other operating expenses for the year ended December 31, 2013 to Compensation and benefits in the Consolidated Statement of  Operations in order to be consistent with the presentation for the year ended December 31, 2014.
	Use of estimates
	The preparation of financial statements in conformity with generally accepted accounting principles 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 revenue and expenses during the reported period.  Actual results could differ from these estimates.
	Cash and cash equivalents
	Cash equivalents represent short-term, highly liquid investments, which are readily convertible to cash and have maturities of three months or less at time of purchase.  Cash equivalents, which are carried at cost plus accrued interest, which approximates fair value, consist of an investment in a money market fund which invests in treasury bills and amounted to approximately $10,985,000, and $12,348,000 at December 31, 2014 and 2013, respectively.
	Cash equivalents are classified within level 1 of the fair value hierarchy because they are valued using quoted market prices in active markets.
	Short-term investments
	Short term investments are recorded at fair value, with related unrealized gains and losses recognized in operations. Fair values are based on listed market prices, where available.  If listed market prices are not available or if the liquidation of our positions would reasonably be expected to impact market prices, fair value is determined based on other relevant factors, including dealer price quotations.  See Note 6.
	Basic and diluted loss per share
	Basic and diluted loss per share for the years ended December 31, 2014 and 2013, respectively, is calculated based on 19,101,000 and 18,961,000 weighted average outstanding shares of common stock including common shares underlying vested RSUs.   Options for 3,250,000 shares of common stock in 2014 and 2013, and unvested RSUs for 207,000 and 264,000 shares of common stock in 2014 and 2013, respectively, were not included in the diluted computation as their effect would be anti-dilutive since the Company has losses from continuing operations for both years.
	Employees' stock based compensation
	Stock-based compensation cost is measured at the grant date based on the fair value of the award and is recognized as an expense on a straight-line basis over the requisite service period, which is generally the vesting period. See Note 13.
	Income taxes
	Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to carryforwards and to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.
	The accounting for uncertain tax positions guidance requires that the Company recognize the financial statement benefit of a tax position only after determining that the Company would more likely than not sustain the position following an audit. For tax positions meeting the more-likely-than-not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. The Company recognizes interest and penalties on uncertain tax positions as interest and other expenses, respectively.
	Concentrations of credit risk
	Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of cash investments. The Company places its cash investments with high quality financial institutions.
	Property and equipment
	Property and equipment are carried at cost, net of allowance for depreciation. Depreciation is provided on a straight-line basis over estimated useful lives of 3 to 7 years for equipment and furniture.
	Intangible Assets
	Intangible assets, which were recorded in connection with the acquisition of Winthrop, are amortized over their estimated useful lives, on a straight-line basis. Intangible assets subject to amortization are tested for recoverability whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. The Company assesses the recoverability of its intangible assets by determining whether the unamortized balance can be recovered over the assets' remaining life through undiscounted forecasted cash flows. If undiscounted forecasted cash flows indicate that the unamortized amounts will not be recovered, an adjustment will be made to reduce such amounts to fair value determined based on forecasted future cash flows discounted at a rate commensurate with the risk associated with achieving such cash flows. Future cash flows are based on trends of historical performance and the Company's estimate of future performance, giving consideration to existing and anticipated competitive and economic conditions.   No impairment of intangible assets was recognized at December 31, 2014 or 2013.
	Goodwill
	Goodwill, which was recorded in connection with the acquisition of Winthrop, is not subject to amortization and is tested for impairment annually on December 31, or more frequently if events or changes in circumstances indicate that the asset may be impaired. The impairment test consists of a comparison of the fair value of the reporting unit with its carrying amount, including goodwill. Fair value was calculated based upon future cash flows discounted at a rate commensurate with the risk involved,  market based comparables and recent transactions within the financial services industry. If the carrying amount of the reporting unit exceeds its fair value then an analysis will be performed to compare the implied fair value of goodwill with the carrying amount of goodwill. An impairment loss will be recognized in an amount equal to the excess of the carrying amount over the implied fair value. After an impairment loss is recognized, the adjusted carrying amount of goodwill is its new accounting basis.  No impairment of goodwill was recognized at  December 31, 2014 or 2013.
	Revenue recognition
	Revenue from investment advisory services and investment management services are recognized over the period in which the service is performed.  Accordingly, the amount of such revenue billed as of the balance sheet date relating to periods after the balance sheet date is accounted for as deferred revenue.  Revenue from research reports is recognized monthly upon the downloading of reports by institutional and other investors from investment industry distributors.

Discontinued_Operation

Discontinued Operation	12 Months Ended
	Dec. 31, 2014
Discontinued Operation [Abstract]
Discontinued Operation	3.	Discontinued Operation
	During the year ended December 31, 2013, the Company recorded a loss of $2,375,000 in connection with settlement of litigation related to Five Star and also incurred related legal expenses of $773,000 in connection with the matter, all of which have been charged to discontinued operations in the accompanying consolidated statement of operations (See Note 15(a)).  See Note 9 with respect to $337,000 of tax benefit credited to discontinued operations in 2013.
	During the year ended December 31, 2014, the Company agreed to a settlement of its insurance claim related to the loss in connection with the Five Star litigation, and received a net payment of $525,000, which has been credited to discontinued operations (See Note 15(a)).  See Note 9 with respect to $210,000 of tax expense charged to discontinued operations in 2014.

Sale_of_MXL_investment

Sale of MXL investment	12 Months Ended
	Dec. 31, 2014
Sale of MXL investment [Abstract]
Sale of MXL investment	4.	Sale of MXL investment
	At December 31, 2013, the Company held a 19.9% equity investment in a privately-held company, MXL, which is engaged in the plastic molding and precision coating businesses. At December 31, 2013, this investment was included in other assets at cost of $275,000.
	On February 3, 2014, MXL exercised its right to purchase the Company's 19.9% interest.  The Company received $994,000 for its 19.9% interest on March 26, 2014, resulting in a gain of $719,000 for the year ended December 31, 2014.

Liability_for_Contingent_Consi

Liability for Contingent Consideration	12 Months Ended
	Dec. 31, 2014
Liability for Contingent Consideration [Abstract]
Liability for Contingent Consideration	5.	Liability for contingent consideration
	In connection with the Company's acquisition of Winthrop on December 19, 2012, the Company has agreed to pay contingent consideration in cash to a holder of Winthrop common stock who received 852,228 shares of Company Common Stock to the extent that such shares have a value of less than $1,900,000 on the expiration of the three year period based on the average closing price of the Company's Common Stock for the ten trading days prior to such date.
	A liability was recognized for an estimate of the acquisition date fair value of the acquisition-related contingent consideration which may be paid.  The fair value was calculated by applying a lattice model, which takes into account the potential for the Company's stock price per share being less than $2.23 per share at the end of the 3 year lock-up period.  The fair value measurement is based on significant unobservable inputs that are supported by little market activity and reflect the Company's own assumptions.  Key assumptions include expected volatility (50% at December 31, 2014 and 2013) in the Company's Common Stock and the risk free interest rate   (0.25 % and 0.38% at December 31, 2014 and 2013, respectively)   during the remainder of the  three year lock up  period.  Changes in the fair value of the contingent consideration subsequent to the acquisition date are being recognized in earnings until the liability is eliminated or settled. The fair value of the liability was $572,000 and $506,000 on December 31, 2014 and 2013, respectively (Level 3 under the fair value hierarchy-see Note 6).  The Company recognized expense of $66,000 and $85,000, respectively, for the change in the value for the years  ended December 31, 2014 and 2013, respectively.

Shortterm_investments

Short-term investments	12 Months Ended
	Dec. 31, 2014
Short-term investments [Abstract]
Short-term investments	6	Short-term investments:
	The Financial Accounting Standards Board has issued authoritative accounting guidance that defines fair value, establishes a framework for measuring fair value and establishes a fair value hierarchy which prioritizes the inputs to valuation techniques. The guidance clarifies that fair value should be based on assumptions that market participants would use when pricing an asset or liability.  The three levels of fair value hierarchy are described below:
		•	Level 1 – Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;
		•	Level 2 – Quoted prices in active markets for similar assets and liabilities or quoted prices in less active, dealer or broker markets;
		•	Level 3 – Prices or valuations that require inputs that are both significant to the fair value measurement and are unobservable.
	Short-term investments in mutual funds managed by a subsidiary of Winthrop and separate securities accounts, are stated at the net asset value of the funds or the year-end closing price of the underlying security.  All investments are classified as Level 1 investments.
	The following is a summary of current trading marketable securities at December 31, 2014 and 2013 (in thousands):
			31-Dec-14
			Cost		Unrealized		Estimated
					Gains		Fair Value
	Mutual funds		$	91	$	63	$	154
			$	91	$	63	$	154
			31-Dec-13
			Cost		Unrealized		Estimated
					Gains		Fair Value
	Mutual funds		$	91	$	41	$	132
			$	91	$	41	$	132

Accounts_receivable

Accounts receivable	12 Months Ended
	Dec. 31, 2014
Accounts receivable [Abstract]
Accounts receivable	7	Accounts receivable
	Winthrop and its subsidiaries continuously monitor the creditworthiness of customers and establish an allowance for uncollectible accounts based  on specific customer related collection issues.  As of  December 31, 2014 and 2013, there was no allowance for uncollectible accounts.

Accounts_payable_and_accrued_e

Accounts payable and accrued expenses	12 Months Ended
	Dec. 31, 2014
Accounts payable and accrued expenses [Abstract]
Accounts payable and accrued expenses	8	Accounts payable and accrued expenses
	Accounts payable and accrued expenses consist of the following (in thousands):
		December 31,
		2014			2013
	Accrued professional fees		$	323		$	703
	Accrued compensation and related expenses			322			304
	Other			471			395
			$	1,116		$	1,402

Income_taxes

Income taxes	12 Months Ended
	Dec. 31, 2014
Income taxes [Abstract]
Income taxes	9.	Income taxes
	The components of income tax expense (benefit) are as follows (in thousands):
			Year Ended December 31,
			2014				2013
	Continuing operations:
	Current
	Federal		$	(179	)		$	(5	)
	State and local			7				35
	Total current			(172	)			30
	Discontinued operations:
	Current
	Federal		$	179			$	(337	)
	State and local			31				-
	Total current			210				(337	)
	Total income tax expense (benefit)		$	38			$	(307	)
	For the year ended December 31, 2014, current income tax  benefit related to continuing operations substantially represents a benefit from utilizing the loss from continuing operations against income from discontinued operations, offset by minimum state taxes.
	For the year ended December 31, 2013, current income tax expense related to continuing operations substantially represents minimum state income taxes.  See below for current federal income tax benefits credited to continuing and discontinued operations in 2013.
	The difference between the benefit for income taxes computed at the statutory rate and the reported amount of tax expense (benefit) from continuing operations is as follows:
			Year ended December 31,
			2014							2013
	Federal income tax rate					(34.0	)	%			(34.0	)	%
	State income tax (net of federal effect)					(4.9	)				(4.7	)
	Change in valuation allowance					38.6					39
	Loss utilized against discontinued operations					(6.4	)				-
	Non-deductible expenses					0.6					-
	Effective tax rate					(6.1	)	%			0.3		%
	The deferred tax assets and liabilities are summarized as follows (in thousands):
		December 31,
		2014					2013
	Deferred tax assets:
	Net operating loss carryforwards		$	7,076			$	6,372
	Equity-based compensation			1,593				1,477
	Tax credit carryforwards			148				148
	Accrued compensation			418				439
	Accrued liabilities & other			193				141
	Gross deferred tax assets			9,428				8,577
	Less: valuation allowance			(8,140	)			(7,031	)
	Deferred tax assets after valuation allowance			1,288				1,546
	Deferred tax liabilities:
	Intangible assets			(1,278	)			(1,526	)
	Other			(10	)			(20	)
	Deferred tax liabilities			(1,288	)			(1,546	)
	Net Deferred tax assets		$	-			$	-
	The Company files a consolidated federal tax return with its subsidiaries.  As of December 31, 2014, the Company has a federal net operating loss carryforward of approximately $16.7 million, which expires from 2030 through 2034, and various state and local net operating loss carryforwards totaling approximately $26.2 million, which expire between 2016 and 2034.  Approximately $1.3 million of the federal net operating loss carryforward and $8.5 million of the state net operating loss carryforward were acquired from Winthrop.  The acquired federal net operating loss carryfoward is limited in its utilization by Section 382 of the Internal Revenue Code due to an ownership change.
	A valuation allowance is provided when it is more likely than not that some portion of deferred tax assets will not be realized. The valuation allowance increased by approximately $1,109,000 and $2,592,000 respectively, during the years ended December 31, 2014 and 2013 due to increases of net operating loss carryforwards and other deferred tax assets.
	Five Star underwent an income tax examination by the Internal Revenue Service for income tax filings for the years ended December 31, 2007 and 2008 and was challenged with respect to the timing of certain tax deductions.  As a result, a liability for uncertain tax positions was provided in the year ended December 31, 2010 and charged to discontinued operations.    The deficiency notice was issued on April 25, 2011. On May 17, 2011, Five Star Products Inc. and its subsidiary Five Star Group Inc. filed petitions for reorganization under Chapter 11 of the United States Bankruptcy code. On December 16, 2011, the Plan of Reorganization of TMG Liquidation Corp., Five Star Products Inc.'s parent corporation, was approved by the Bankruptcy Court.  Under the Plan of Reorganization, the Internal Revenue Service is authorized to pursue the Plan Administrator, who is authorized to defend the deficiency notice issued to Five Star Products, Inc.  During the year ended December 31, 2013, the Company reversed the liability for uncertain tax positions with a corresponding credit to discontinued operations as a result of the Company's settlement with the Plan Administrator (see Note 15(a)).  The liability that was reversed amounted to approximately $337,000 for potential federal and state tax deficiencies and related interest, of which approximately $212,000 related to additional tax, and approximately $125,000 related to interest.
	The Internal Revenue Service examined the Company's 2009 and 2010 consolidated U.S. federal tax returns, which was settled in April 2013 for the amount of $10,000, including interest of $1,000.  As a result of the settlement, the liability for uncertain tax positions was reduced by $15,000 of which $5,000 was credited to income tax benefit in 2013.
	For federal income tax purposes, the 2011 through 2014 tax years remain open for examination by the tax authorities.  For state tax purposes, the 2010 through 2014 tax years remain open for examination by the tax authorities under a four year statute of limitations.
	A reconciliation of the unrecognized tax benefits for the years ended December 31, 2014 and 2013 follows (in thousands):
	Balance January 1, 2013		$	444
	Settlements in 2013			(444	)
	Balance December 31, 2013 and 2014		$	-

Property_and_equipment

Property and equipment	12 Months Ended
	Dec. 31, 2014
Property and equipment [Abstract]
Property and equipment	10	Property and equipment:
	Property and equipment consists of the following (in thousands):
			December 31,
			2014			2013
	Computer software		$	2		$	2
	Computer equipment			94			81
	Office furniture and equipment			40			40
	Leasehold improvements			1			1
				137			124
	Less accumulated depreciation and amortization			(97	)		(75	)
			$	40		$	49
	Depreciation expense for the years ended December 31, 2014 and 2013 was $22,000 and $18,000, respectively.

Intangible_Assets

Intangible Assets	12 Months Ended
	Dec. 31, 2014
Intangible Assets [Abstract]
Intangible Assets	11.	Intangible Assets
	Intangible assets subject to amortization which were recorded in connection with the acquisition of Winthrop consisted of the following (in thousands):
			31-Dec-14
	Intangible	Estimated	Gross carrying		Accumulated		Net carrying
		useful life	amount		Amortization		amount
	Investment management and Advisory Contracts	9 years		$3,181		$718		$2,463
	Trademarks	10 years		433		88		345
	Proprietary software and	4 years		960		487		473
	technology
				$4,574		$1,293		$3,281
			31-Dec-13
	Intangible	Estimated	Gross carrying		Accumulated		Net carrying
		useful life	amount		Amortization		amount
	Investment management and Advisory Contracts	9 years		$3,181		$364		$2,817
	Trademarks	10 years		433		45		388
	Proprietary software and	4 years		960		247		713
	technology
				$4,574		$656		$3,918
	Amortization expense amounted to $637,000 for each of the years ended December 31, 2014 and 2013. The weighted-average amortization period for total amortizable intangibles at December 31, 2014 is 6 years. Estimated amortization expense for each of the five succeeding years and thereafter is as follows (in thousands):
	Year ending December 31,
	2015	$637
	2016	630
	2017	397
	2018	397
	2019	397
	2020-2023	823
		$3,281

Capital_Stock

Capital Stock	12 Months Ended
	Dec. 31, 2014
Capital Stock [Abstract]
Capital Stock	12.	Capital Stock
	The Company's Board of Directors, without any vote or action by the holders of common stock, is authorized to issue preferred stock from time to time in one or more series and to determine the number of shares and to fix the powers, designations, preferences and relative, participating, optional or other special rights of any series of preferred stock.
	The Board of Directors authorized the Company to repurchase up to 5,000,000 outstanding shares of common stock from time to time either in open market or privately negotiated transactions. At December 31, 2014, the Company had repurchased 1,791,821 shares of its common stock and a total of 3,208,179 shares, remained available for repurchase.

Incentive_stock_plans_and_stoc

Incentive stock plans and stock based compensation	12 Months Ended
	Dec. 31, 2014
Incentive stock plans and stock based compensation [Abstract]
Incentive stock plans and stock based compensation	13.	Incentive stock plans and stock based compensation
	Common stock options
	The Company had initially adopted a stock-based compensation plan for employees and non-employee members of its Board of Directors in November 2003 (the “2003 Plan”), which was subsequently amended in March 2007 (the “2003 Plan Amendment”). In December 2007, the Company adopted the National Patent Development Corporation 2007 Incentive Stock Plan (the “2007 NPDC Plan”).  The plans provide for up to 3,500,000 and 7,500,000 awards for shares under the 2003 Plan Amendment and 2007 NPDC Plan, respectively, in form of discretionary grants of stock options, restricted stock shares, restricted stock units (RSUs) and other stock-based awards to employees, directors and outside service providers. The Company's plans are administered by the Compensation Committee of the Board of Directors, which consists solely of non-employee directors. The term of any option granted under the plans will not exceed ten years from the date of grant and, in the case of incentive stock options granted to a 10% or greater holder of total voting stock of the Company, three years from the date of grant.  The exercise price of any option granted under the plans may not be less than the fair market value of the common stock on the date of grant or, in the case of incentive stock options granted to a 10% or greater holder of total voting stock, 110% of such fair market value.
	The Company recorded compensation expense related to option grants of $0 and $21,000 for the years ended December 31, 2014 and 2013, respectively. As of December 31, 2014, the number of shares reserved and available for award under the 2007 NPDC Plan is 6,200,720 and under the 2003 Plan Amendment is 700,000.
	During the year ended December 31, 2014, there was no option activity.  As of  December 31, 2014 there were outstanding options to acquire 3,250,000 common shares, all of which were vested and exercisable, having a weighted average exercise price of $2.31 per share,  a weighted average  contractual term of 2.6 years and an aggregate intrinsic value of $149,000.
	As of December 31, 2014, there was no unrecognized compensation expense related to non-vested options.
	Restricted stock units
	As a result of the Winthrop acquisition, the Company issued a total of  849,280 RSUs on the closing date to be settled in shares of Company common stock as follows:
		a)	479,280 RSUs were granted to four key executives of Winthrop, which vested as of the Closing Date and are subject to post-vesting restrictions on sale for three years.  The RSUs were valued at the closing price of the Company's common stock of $2.52, less a 20% discount for post vesting restrictions on sale, or $2.02 per share.  The total value of these RSUs of $966,000, were accounted for as compensation and charged to retention bonus expense on the closing date.
		b)	370,000 RSUs were granted to four key executives, which vest  equally over three years, with the first third vesting one year from the Closing Date.  The RSUs were valued based on the closing price of the Company's common stock on the Closing Date of $2.52, less an average discount of 11% for post-vesting restrictions on sale until the three year anniversary of the grant date, or an average price per share of $2.25.  The Company recorded compensation expense of $277,000 for each of the years ended December 31, 2014 and 2013 related to these RSUs. The total unrecognized compensation expense related to these unvested RSUs at December 31, 2014 is $252,000, which will be recognized over the remaining vesting period of approximately 1 year.
	In addition, the following RSUs were granted to employees of the Company:
		c)	17,738 RSUs were granted to certain employees  on February 4, 2013, which vest equally over three years, with the first third vesting on February 4, 2014.  At December 31, 2014, 14,348 of the RSU's were still outstanding.  The RSUs are valued based on the closing price of the Company's common stock on February 4, 2013 of $2.40, less an average discount of 11% for post-vesting restrictions on sale until the three year anniversary of the grant date, or an average price per share of $2.25.  The Company recorded compensation expense of $12,000 for each of the years ended December 31, 2014 and 2013 related to these RSUs.  The total unrecognized compensation expense related to these unvested RSUs at December 31, 2014 is $12,000, which will be recognized over the remaining vesting period of approximately 1.2 years.
		d)	30,000 RSUs were granted to an employee on June 10, 2014, which will vest on the third anniversary of the individual's employment, assuming the individual is still employed at that time.   The RSUs are valued based on the closing price of the Company's common stock on June 10, 2014 of $1.90.  The Company recorded compensation expense of $9,000 for the year ended December 31, 2014 related to these RSUs. The total unrecognized compensation expense related to these unvested RSUs at December 31, 2014 is $46,000.In the first quarter of 2015, the individual was no longer employed by the Company and the above RSUs were cancelled.

Retirement_plans

Retirement plans	12 Months Ended
	Dec. 31, 2014
Retirement plans [Abstract]
Retirement plans	14.	Retirement plans
		a)	The Company maintains a 401(k) Savings Plan (the “Plan”), for full time employees who have completed at least one hour of service coincident with the first day of each month.  The Plan permits pre-tax contributions by participants.   Effective January 15, 2013, the employees of Winthrop and its subsidiaries were eligible to participate in the Plan, and the Company ceased matching the participants contributions.
		b)	Winthrop maintains an officer retirement bonus plan (the “Bonus Plan”) that is an unfunded deferred compensation program providing retirement benefits equal to 10% of annual compensation, as defined, to those officers upon their retirement.   Effective December 1, 1999, the Plan was frozen so that no additional benefits will be earned.  The total obligation under the Bonus Plan at December 31, 2014 is $858,000, of which $160,000 is estimated to be payable over the next twelve months.  The liability is payable to individual retired employees at the rate of $50,000 per year in equal monthly amounts commencing upon retirement.  The liability was recorded at $885,000 at the date of acquisition, representing its estimated fair value computed based on its present value, utilizing a discount rate of 14%, which was estimated to be the acquired company's weighted average cost of capital on such date from the perspective of a market participant.  The calculated discount of $1,027,000 at the date of acquisition is being amortized as interest expense over the period the obligation is outstanding by use of the effective interest method.  For the years ended December 31, 2014 and 20133, interest expense, (included in investment and other expense, net) amounted to $92,000 and $122,000, respectively. At December 31, 2014, and 2013 the present value of the obligation under the Bonus Plan was $858,000, and $902,000, respectively, net of discount of $756,000 and $1,031,000, respectively.  During 2014, one employee left Winthrop and accordingly forfeited their retirement bonus, and in addition there were certain changes to previously expected retirement dates.  The effect of the departure and changes resulted in a $36,000 decrease to the liability at the date of departure or change in expected retirement date, and a corresponding credit to Operating expenses in the Consolidated Statement of Operations.

Commitments_Contingencies_and_

Commitments, Contingencies and Other	12 Months Ended
	Dec. 31, 2014
Commitments, Contingencies and Other [Abstract]
Commitments, Contingencies and Other	15.	Commitments, Contingencies and Other
	(a)		On or about May 17, 2011, the Merit Group, Inc. (“Merit”) filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the District of South Carolina. On or about December 14, 2011, the Official Committee of Unsecured Creditors of TMG Liquidation Company (formerly known as The Merit Group, Inc.) filed in that court an adversary proceeding against the Company (the “Avoidance Action”) now captioned CohnResnick LLP, as Plan Administrator v. National Patent Development Corp. (In re TMG Liquidation Co.). The Avoidance Action sought, among other things, to avoid and recover the consideration paid by Merit to the Company for the purchase of Five Star Products, Inc. (“Five Star”) from the Company under the Stock Purchase Agreement, dated November 24, 2009  (the “Agreement”), as a constructive fraudulent transfer under sections 548, 550, and 551 of the Bankruptcy Code.
	On August 2, 2013, the Company entered into a Settlement Agreement and Release (the “Settlement Agreement”) with CohnReznick LLP (the “Plan Administrator”) to settle the Avoidance Action.  Under the terms of the Settlement Agreement, the Plan Administrator was required to file with the Bankruptcy Court, no later than August 9, 2013, a motion to approve the Settlement Agreement (the “Settlement Motion”) and a proposed order approving relief to be requested in the Settlement Motion (the “Proposed Order”). Pursuant to the Settlement Agreement, the Company agreed to make a settlement payment of $2,375,000 (the “Settlement Payment”) to the Plan Administrator conditioned upon the entry of an order (the “Approval Order”) by the Bankruptcy Court approving the Settlement Motion, that is in a form acceptable to the Company and in substantially the same form as the Proposed Order.  The Bankruptcy Court entered an order approving the Settlement Agreement on September 4, 2013, and the Settlement Agreement required the Company to make the Settlement Payment within fifteen days of the Approval Order becoming a final, non-appealable order (a “Final Order”).  On October 3, 2013, the Company made a payment of $2,375,000 to the Plan Administrator pursuant to the terms of the Settlement Agreement.
	The Settlement Agreement also provides for general mutual releases by each of the parties, including a general release in favor of the Company and its affiliates, and the Company's and its affiliates' officers, directors, employees, agents, and professionals.  The mutual releases became effective upon entry of the Final Order and receipt of the Settlement Payment by the Plan Administrator. In addition, pursuant to the terms of the Settlement Agreement, on October 9, 2013 the Plan Administrator made the requisite filings to dismiss, with prejudice, the Avoidance Action and a second pending adversary complaint against the Company.    Upon entry of the Final Order by the Bankruptcy Court, the Company resolved all claims and causes of action that have been or could have been asserted against it by the Plan Administrator.
	As a result of entering into the Settlement Agreement, during the year ended December 31, 2013, the Company recorded a loss in discontinued operations of $2,375,000 in connection with the Avoidance Action.  In April 2014, the Company agreed to a settlement of its insurance claim related to this matter, and received a net payment of $525,000, which was recorded as income in discontinued operations during the year ended December 31, 2014.
	(b)	Pursuant to his Employment Agreement, Mr. Peter Donovan serves as Chief Executive Officer of Winthrop, commencing upon the Closing Date.  Mr. Donovan's Employment Agreement provides for a term of five years, with automatic annual renewals unless notice of non-renewal is given at least six months prior to the applicable employment period.  Mr. Donovan is receiving an annual base salary of $300,000, subject to increases at the discretion of the Compensation Committee of Winthrop's Board of Directors.  During the initial term of Mr. Donovan's Employment Agreement but subsequent to the third anniversary of the Closing Date, in the sole discretion of the Board of Directors of Winthrop, Mr. Donovan will assume the position of Executive Chairman of Winthrop in lieu of his position as Chief Executive Officer, with such authority, duties and responsibilities as are commensurate with his position as Executive Chairman and such other duties and responsibilities as may reasonably be assigned to him by the Chief Executive Officer of the Company.  As Executive Chairman, Mr. Donovan will be entitled to an annual base salary of $200,000.  During his employment under the Employment Agreement, Mr. Donovan reports directly to the Chief Executive Officer of the Company.
	Under their respective Employment Agreements, the three other key executives are serving as Senior Managing Directors of Winthrop.  Their Employments Agreements each provide for a term of three years, with automatic annual renewals unless notice of non-renewal is given at least six months prior to the applicable employment period.  Each of the three key executives is receiving an annual base salary of $250,000.  In addition to their base salaries, each of the other three key executives are entitled to receive a “Stay/Client Retention Bonus” of $114,000.  The Stay/Client Retention Bonus is payable in equal installments on the Closing Date and first, second and third anniversaries of the Closing Date.  Two of the executives elected to receive the Stay/Client Retention Bonus in RSUs, valued at $2.00 per RSU (a total of 114,000 RSUs) which vest in equal annual installments on the first, second and third anniversaries of the Closing Date provided that the recipient is then employed by Winthrop or one of its affiliates and one elected to receive cash payable in four equal installments of $28,500, the first paid and expensed on the Closing Date.
	(c)	The Company has a call right to acquire any shares of Company common stock held by the four key executives of Winthrop received as merger consideration who terminate employment without “good reason” prior to the third anniversary of the Closing Date, at a purchase price per share equal to the fair market value of Company Common Stock as of the date of the notice of the exercise of the call right.
	(d)	On July 1, 2014, Winthrop, pursuant to the terms of its Milford facility lease, gave eight months' notice to their landlord to terminate their lease in Milford, Connecticut.  In August 2014, the Company entered into a five year sublease in Greenwich, Connecticut for 10,000 square feet.  Estimated annual rent for the Greenwich, Connecticut space, which expires on September 30, 2019 is as follows; $234,000 (2015), $240,000 (2016), $248,000 (2017), $255,000 (2018), and $196,000 (through September 30, 2019).  Rent expense charged to operations related to the Milford Connecticut facility, and in 2014, the Greenwich facility, aggregated $165,000 and $90,000 in 2014 and 2013, respectively.  The rent expense in 2014 included deferred rent of $68,000 due to straight lining the amounts payable over the lease term commencing in August 2014 upon the Company gaining access to the premises. The Company also intends to move their corporate office from Mount Kisco, New York  (see  Note 16) to the new Greenwich, Connecticut facility, which would result in a consolidation of the Company's corporate headquarters to Greenwich, Connecticut.
	(e)	On September 26, 2014, the Connecticut Department of Energy and Environmental Protection (“DEEP”) issued two Orders requiring the investigation and repair of two dams in which the Company and its subsidiaries have certain ownership interests.  The first Order requires that the Company investigate and make specified repairs to the ACME Pond Dam located in Killingly, Connecticut.  The second Order, as subsequently revised by DEEP on October 10, 2014, requires that the Company investigate and make specified repairs to the Killingly Pond Dam located in Killingly, Connecticut.  The Company has administratively appealed and contested the allegations in both Orders.  As the administrative appeal of both Orders is in its early stages, it is not possible at this time to evaluate the likelihood of, or to estimate the range of loss from, an unfavorable outcome.

Related_party_transactions

Related party transactions	12 Months Ended
	Dec. 31, 2014
Related party transactions [Abstract]
Related party transactions	16	Related party transactions
	Effective June 1, 2010, the Company relocated its headquarters to the offices of Bedford Oak in Mount Kisco, New York. Bedford Oak is controlled by Harvey P. Eisen, Chairman, Chief Executive Officer and a director of the Company. The Company has been subleasing a portion of the Bedford Oak space and has access to various administrative support services on a month-to-month basis.  On October 31, 2012, the Company's Audit Committee approved an increase to approximately $40,700 per month (effective as of September 1, 2012) in the monthly sublease and administrative support services rate, which increased rate the Company believed, was necessary to provide for the increased personnel and space requirements necessary for an operating company.
	On May 13, 2014, the Company's Audit Committee approved a decrease to approximately $27,600 per month (effective as of June 1, 2014) in the monthly sublease and administrative support services rate, which decreased rate is part of the Company's effort to control and reduce costs.  Operating  expenses for the year ended December 31, 2014 and 2013, includes $397,000 and $488,000, respectively, related to the sublease arrangement with Bedford Oak. See Note 15 (d) for a description and the terms of the Company's recent sublease transaction for its new corporate headquarters.  In March 2015 the Audit Committee approved the elimination of the monthly sublease and administrative support services fee effective March 31, 2015.
	Wright acts as an investment advisor, its subsidiary acts as a principal underwriter and one officer of Winthrop is also an officer for a family of mutual funds from which investment management and distribution fees are earned based on the net asset values of the respective funds.   Such fees, which are included in Other investment advisory services, amounted to $ 794,000 and $938,000 for the years ended December 31, 2014 and 2013, respectively.

Recovered_Sheet1

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2014
Summary of significant accounting policies [Abstract]
Principles of consolidation	Principles of consolidation.
	The consolidated financial statements include the accounts of the Company and its subsidiaries all of which are wholly-owned. All significant intercompany accounts and transactions have been eliminated in consolidation.
Reclassification	Reclassification
	The Company has reclassified $5,423,000 of  Other operating expenses for the year ended December 31, 2013 to Compensation and benefits in the Consolidated Statement of  Operations in order to be consistent with the presentation for the year ended December 31, 2014.
Use of estimates	Use of estimates
	The preparation of financial statements in conformity with generally accepted accounting principles 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 revenue and expenses during the reported period.  Actual results could differ from these estimates.
Cash and cash equivalents	Cash and cash equivalents
	Cash equivalents represent short-term, highly liquid investments, which are readily convertible to cash and have maturities of three months or less at time of purchase.  Cash equivalents, which are carried at cost plus accrued interest, which approximates fair value, consist of an investment in a money market fund which invests in treasury bills and amounted to approximately $10,985,000, and $12,348,000 at December 31, 2014 and 2013, respectively.
	Cash equivalents are classified within level 1 of the fair value hierarchy because they are valued using quoted market prices in active markets.
Short-term investments	Short-term investments
	Short term investments are recorded at fair value, with related unrealized gains and losses recognized in operations. Fair values are based on listed market prices, where available.  If listed market prices are not available or if the liquidation of our positions would reasonably be expected to impact market prices, fair value is determined based on other relevant factors, including dealer price quotations.  See Note 6.
Basic and diluted loss per share	Basic and diluted loss per share
	Basic and diluted loss per share for the years ended December 31, 2014 and 2013, respectively, is calculated based on 19,101,000 and 18,961,000 weighted average outstanding shares of common stock including common shares underlying vested RSUs.   Options for 3,250,000 shares of common stock in 2014 and 2013, and unvested RSUs for 207,000 and 264,000 shares of common stock in 2014 and 2013, respectively, were not included in the diluted computation as their effect would be anti-dilutive since the Company has losses from continuing operations for both years.
Employees' stock based compensation	Employees' stock based compensation
	Stock-based compensation cost is measured at the grant date based on the fair value of the award and is recognized as an expense on a straight-line basis over the requisite service period, which is generally the vesting period. See Note 13.
Income taxes	Income taxes
	Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to carryforwards and to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.
	The accounting for uncertain tax positions guidance requires that the Company recognize the financial statement benefit of a tax position only after determining that the Company would more likely than not sustain the position following an audit. For tax positions meeting the more-likely-than-not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. The Company recognizes interest and penalties on uncertain tax positions as interest and other expenses, respectively.
Concentrations of credit risk	Concentrations of credit risk
	Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of cash investments. The Company places its cash investments with high quality financial institutions.
Property and equipment	Property and equipment
	Property and equipment are carried at cost, net of allowance for depreciation. Depreciation is provided on a straight-line basis over estimated useful lives of 3 to 7 years for equipment and furniture.
Intangible Assets	Intangible Assets
	Intangible assets, which were recorded in connection with the acquisition of Winthrop, are amortized over their estimated useful lives, on a straight-line basis. Intangible assets subject to amortization are tested for recoverability whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. The Company assesses the recoverability of its intangible assets by determining whether the unamortized balance can be recovered over the assets' remaining life through undiscounted forecasted cash flows. If undiscounted forecasted cash flows indicate that the unamortized amounts will not be recovered, an adjustment will be made to reduce such amounts to fair value determined based on forecasted future cash flows discounted at a rate commensurate with the risk associated with achieving such cash flows. Future cash flows are based on trends of historical performance and the Company's estimate of future performance, giving consideration to existing and anticipated competitive and economic conditions.   No impairment of intangible assets was recognized at December 31, 2014 or 2013.
Goodwill	Goodwill
	Goodwill, which was recorded in connection with the acquisition of Winthrop, is not subject to amortization and is tested for impairment annually on December 31, or more frequently if events or changes in circumstances indicate that the asset may be impaired. The impairment test consists of a comparison of the fair value of the reporting unit with its carrying amount, including goodwill. Fair value was calculated based upon future cash flows discounted at a rate commensurate with the risk involved,  market based comparables and recent transactions within the financial services industry. If the carrying amount of the reporting unit exceeds its fair value then an analysis will be performed to compare the implied fair value of goodwill with the carrying amount of goodwill. An impairment loss will be recognized in an amount equal to the excess of the carrying amount over the implied fair value. After an impairment loss is recognized, the adjusted carrying amount of goodwill is its new accounting basis.  No impairment of goodwill was recognized at  December 31, 2014 or 2013.
Revenue recognition	Revenue recognition
	Revenue from investment advisory services and investment management services are recognized over the period in which the service is performed.  Accordingly, the amount of such revenue billed as of the balance sheet date relating to periods after the balance sheet date is accounted for as deferred revenue.  Revenue from research reports is recognized monthly upon the downloading of reports by institutional and other investors from investment industry distributors.

Shortterm_investments_Tables

Short-term investments (Tables)	12 Months Ended
	Dec. 31, 2014
Short-term investments [Abstract]
Current Trading Marketable Securities	The following is a summary of current trading marketable securities at December 31, 2014 and 2013 (in thousands):
		31-Dec-14
		Cost		Unrealized		Estimated
				Gains		Fair Value
	Mutual funds	$	91	$	63	$	154
		$	91	$	63	$	154
		31-Dec-13
		Cost		Unrealized		Estimated
				Gains		Fair Value
	Mutual funds	$	91	$	41	$	132
		$	91	$	41	$	132

Accounts_payable_and_accrued_e1

Accounts payable and accrued expenses (Tables)	12 Months Ended
	Dec. 31, 2014
Accounts payable and accrued expenses [Abstract]
Schedule of accounts payable and accrued expenses	Accounts payable and accrued expenses consist of the following (in thousands):
		December 31,
		2014			2013
	Accrued professional fees		$	323		$	703
	Accrued compensation and related expenses			322			304
	Other			471			395
			$	1,116		$	1,402

Income_taxes_Tables

Income taxes (Tables)	12 Months Ended
	Dec. 31, 2014
Income taxes [Abstract]
Schedule of Income Tax Expense (Benefit)	The components of income tax expense (benefit) are as follows (in thousands):
			Year Ended December 31,
			2014				2013
	Continuing operations:
	Current
	Federal		$	(179	)		$	(5	)
	State and local			7				35
	Total current			(172	)			30
	Discontinued operations:
	Current
	Federal		$	179			$	(337	)
	State and local			31				-
	Total current			210				(337	)
	Total income tax expense (benefit)		$	38			$	(307	)
Differences Between Statutory and Reported Amount Tax Rates	The difference between the benefit for income taxes computed at the statutory rate and the reported amount of tax expense (benefit) from continuing operations is as follows:
			Year ended December 31,
			2014							2013
	Federal income tax rate					(34.0	)	%			(34.0	)	%
	State income tax (net of federal effect)					(4.9	)				(4.7	)
	Change in valuation allowance					38.6					39
	Loss utilized against discontinued operations					(6.4	)				-
	Non-deductible expenses					0.6					-
	Effective tax rate					(6.1	)	%			0.3		%
Schedule of Deferred Tax Assets and Liabilities	The deferred tax assets and liabilities are summarized as follows (in thousands):
		December 31,
		2014					2013
	Deferred tax assets:
	Net operating loss carryforwards		$	7,076			$	6,372
	Equity-based compensation			1,593				1,477
	Tax credit carryforwards			148				148
	Accrued compensation			418				439
	Accrued liabilities & other			193				141
	Gross deferred tax assets			9,428				8,577
	Less: valuation allowance			(8,140	)			(7,031	)
	Deferred tax assets after valuation allowance			1,288				1,546
	Deferred tax liabilities:
	Intangible assets			(1,278	)			(1,526	)
	Other			(10	)			(20	)
	Deferred tax liabilities			(1,288	)			(1,546	)
	Net Deferred tax assets		$	-			$	-
Reconciliation of Unrecognized Tax Benefits	A reconciliation of the unrecognized tax benefits for the years ended December 31, 2014 and 2013 follows (in thousands):
	Balance January 1, 2013		$	444
	Settlements in 2013			(444	)
	Balance December 31, 2013 and 2014		$	-

Property_and_equipment_Tables

Property and equipment (Tables)	12 Months Ended
	Dec. 31, 2014
Property and equipment [Abstract]
Schedule of property and equipment	Property and equipment consists of the following (in thousands):
		December 31,
		2014			2013
	Computer software	$	2		$	2
	Computer equipment		94			81
	Office furniture and equipment		40			40
	Leasehold improvements		1			1
			137			124
	Less accumulated depreciation and amortization		(97	)		(75	)
		$	40		$	49

Intangible_Assets_Tables

Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2014
Intangible Assets [Abstract]
Components of Acquired Intangible Assets	Intangible assets subject to amortization which were recorded in connection with the acquisition of Winthrop consisted of the following (in thousands):
			31-Dec-14
	Intangible	Estimated	Gross carrying		Accumulated		Net carrying
		useful life	amount		Amortization		amount
	Investment management and Advisory Contracts	9 years		$3,181		$718		$2,463
	Trademarks	10 years		433		88		345
	Proprietary software and	4 years		960		487		473
	technology
				$4,574		$1,293		$3,281
			31-Dec-13
	Intangible	Estimated	Gross carrying		Accumulated		Net carrying
		useful life	amount		Amortization		amount
	Investment management and Advisory Contracts	9 years		$3,181		$364		$2,817
	Trademarks	10 years		433		45		388
	Proprietary software and	4 years		960		247		713
	technology
				$4,574		$656		$3,918
Amortization Expense Related to Intangible Assets	Year ending December 31,
	2015	$637
	2016	630
	2017	397
	2018	397
	2019	397
	2020-2023	823
		$3,281

Summary_of_significant_account1

Summary of significant accounting policies (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Reclassification of Other operating expenses to Compensation and benefits	$5,423,000
Cash equivalents	$10,985,000	$12,348,000
Weighted average number of common shares outstanding	19,101,000	18,961,000
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive options outstanding	3,250,000	3,250,000
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive options outstanding	207,000	264,000
Minimum [Member] | Office Furniture and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Maximum [Member] | Office Furniture and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	7 years

Discontinued_Operation_Details

Discontinued Operation (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss in connection with Avoidance Action		($2,375,000)
Legal expenses		773,000
Tax (benefit) expense to discontinued operations	210,000	-337,000
Insurance claim settlement, amount awarded to company	$525,000

Sale_of_MXL_investment_Details

Sale of MXL investment (Details) (USD $)	12 Months Ended		1 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Mar. 26, 2014
Schedule of Equity Method Investments [Line Items]
Proceeds from sale of investment in MXL	$994,000
Gain on sale of investment in MXL	719,000
MXL [Member]
Schedule of Equity Method Investments [Line Items]
Equity investment, percentage		19.90%
Equity investment		275,000
Proceeds from sale of investment in MXL			994,000
Gain on sale of investment in MXL	$719,000

Liability_for_Contingent_Consi1

Liability for Contingent Consideration (Details) (USD $)	12 Months Ended		1 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 19, 2012	Jun. 10, 2014
Business Acquisition [Line Items]
Stock price				$1.90
Change in liability for contigent consideration	($66,000)	($85,000)
Winthrop [Member] | Unspecified stockholder [Member]
Business Acquisition [Line Items]
Issuance of common stock in connection with acquisition, shares			852,228
Contingent consideration, maximum value of shares			1,900,000
Stock price			$2.23
Expected volatility	50.00%	50.00%
Risk-free interest rate	0.25%	0.38%
Fair value of contingent liability	$572,000	$506,000

Shortterm_investments_Details

Short-term investments (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Schedule of Available-for-sale Securities [Line Items]
Cost	$91	$91
Unrealized Gains	63	41
Estimated Fair Value	154	132
Mutual Funds [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost	91	91
Unrealized Gains	63	41
Estimated Fair Value	$154	$132

Accounts_payable_and_accrued_e2

Accounts payable and accrued expenses (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Accounts payable and accrued expenses [Abstract]
Accrued professional fees	$323	$703
Accrued compensation and related expenses	322	304
Other	471	395
Accounts payable and accrued expenses	$1,116	$1,402

Income_taxes_Components_of_Inc

Income taxes (Components of Income Tax Expense (Benefit)) (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Current
Federal	($179)	($5)
State and local	7	35
Total current	-172	30
Current
Federal	179	-337
State and local	31
Total current	210	-337
Total income tax expense (benefit)	$38	($307)

Income_taxes_Differences_Betwe

Income taxes (Differences Between Statutory and Reported Amount Tax Rates) (Details)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Income taxes [Abstract]
Federal income tax rate	-34.00%	-34.00%
State income tax (net of federal effect)	-4.90%	-4.70%
Change in valuation allowance	38.60%	39.00%
Loss utilized against discontinued operations	-6.40%
Non deductible expenses	0.60%
Effective tax rate	-6.10%	0.30%

Income_taxes_Deferred_Tax_Asse

Income taxes (Deferred Tax Assets and Liabilities) (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Deferred tax assets:
Net operating loss carryforwards	$7,076	$6,372
Equity-based compensation	1,593	1,477
Tax credit carryforwards	148	148
Accrued compensation	418	439
Accrued liabilities and other	193	141
Gross deferred tax assets	9,428	8,577
Less valuation allowance	-8,140	-7,031
Deferred tax assets after valuation allowance	1,288	1,546
Deferred tax liabilities:
Intangible assets	-1,278	-1,526
Others	-10	-20
Deferred tax liabilities	-1,288	-1,546
Net Deferred tax assets

Income_taxes_Narrative_Details

Income taxes (Narrative) (Details) (USD $)	12 Months Ended		1 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Apr. 30, 2013
Income Tax Examination [Line Items]
Income tax benefit	($179,000)	($5,000)
Valuation allowance	1,109,000	2,592,000
Decrease in liability for uncertain tax positions		444,000
Federal [Member]
Income Tax Examination [Line Items]
Operating loss carryforwards	16,700,000
Federal [Member] | Minimum [Member]
Income Tax Examination [Line Items]
Operating loss carryforwards, expiration date	1-Jan-30
Income Tax Examination, Year under Examination	2011
Federal [Member] | Maximum [Member]
Income Tax Examination [Line Items]
Operating loss carryforwards, expiration date	31-Dec-34
Income Tax Examination, Year under Examination	2014
Federal [Member] | Winthrop [Member]
Income Tax Examination [Line Items]
Operating loss carryforwards	1,300,000
New York/State [Member]
Income Tax Examination [Line Items]
Operating loss carryforwards	26,200,000
New York/State [Member] | Minimum [Member]
Income Tax Examination [Line Items]
Operating loss carryforwards, expiration date	1-Jan-16
Income Tax Examination, Year under Examination	2010
New York/State [Member] | Maximum [Member]
Income Tax Examination [Line Items]
Operating loss carryforwards, expiration date	31-Dec-34
Income Tax Examination, Year under Examination	2014
New York/State [Member] | Winthrop [Member]
Income Tax Examination [Line Items]
Operating loss carryforwards	8,500,000
Internal Revenue Service (IRS) [Member]
Income Tax Examination [Line Items]
Income Tax Examination, Interest written off			1,000
Income Tax Examination, Settlement amount			10,000
Decrease in liability for uncertain tax positions			15,000
Internal Revenue Service (IRS) [Member] | Minimum [Member]
Income Tax Examination [Line Items]
Income Tax Examination, Year under Examination	2009
Internal Revenue Service (IRS) [Member] | Maximum [Member]
Income Tax Examination [Line Items]
Income Tax Examination, Year under Examination	2010
Internal Revenue Service (IRS) [Member] | Five Star [Member]
Income Tax Examination [Line Items]
Income Tax Examination, Amount written off for potential federal and state tax defiencies and related interest		337,000
Income Tax Examination, Additional tax written off		212,000
Income Tax Examination, Interest written off		$125,000
Internal Revenue Service (IRS) [Member] | Five Star [Member] | Minimum [Member]
Income Tax Examination [Line Items]
Income Tax Examination, Year under Examination	2007
Internal Revenue Service (IRS) [Member] | Five Star [Member] | Maximum [Member]
Income Tax Examination [Line Items]
Income Tax Examination, Year under Examination	2008

Income_taxes_Reconciliation_of

Income taxes (Reconciliation of Unrecognized Tax Benefits) (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2014
Income taxes [Abstract]
Balance January 1, 2013	$444
Settlements in 2013	-444
Balance December 31, 2013 and 2014

Property_and_equipment_Details

Property and equipment (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Property, Plant and Equipment [Line Items]
Property and equipment	$137,000	$124,000
Less accumulated depreciation and amortization	-97,000	-75,000
Property and Equipment, Net, Total	40,000	49,000
Depreciation expenses	22,000	18,000
Computer Software [Member]
Property, Plant and Equipment [Line Items]
Property and equipment	2,000	2,000
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment	94,000	81,000
Office Furniture and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment	40,000	40,000
Leasehold improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment	$1,000	$1,000

Intangible_Assets_Intangible_A

Intangible Assets (Intangible Assets) (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	$4,574	$4,574
Accumulated Amortization	1,293	656
Net carrying amount	3,281	3,918
Investment Management and Advisory Contracts [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	9 years	9 years
Gross carrying amount	3,181	3,181
Accumulated Amortization	718	364
Net carrying amount	2,463	2,817
Trademarks [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	10 years	10 years
Gross carrying amount	433	433
Accumulated Amortization	88	45
Net carrying amount	345	388
Proprietary Software and Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	4 years	4 years
Gross carrying amount	960	960
Accumulated Amortization	487	247
Net carrying amount	$473	$713

Intangible_Assets_Estimated_Am

Intangible Assets (Estimated Amortization Expense) (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Intangible Assets [Abstract]
2015	$637,000
2016	630,000
2017	397,000
2018	397,000
2019	397,000
2020-2023	823,000
Finite-Lived Intangible Assets, Net, Total	3,281,000	3,918,000
Amortization expense related to intangible assets	$637,000	$637,000
Weighted average useful life of intangible assets	6 years

Capital_Stock_Details

Capital Stock (Details)	Dec. 31, 2014
Capital Stock [Abstract]
Number of shares authorized to be repurchased	5,000,000
Number of shares repurchased	1,791,821
Remaining number of shares available for repurchase	3,208,179

Incentive_stock_plans_and_stoc1

Incentive stock plans and stock based compensation (Common Stock Options) (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense related to option grants	$0	$21,000
Outstanding options	3,250,000
Outstanding options, weighted average exercise price	$2.31
Outstanding options, weighted average contractual term	2 years 7 months 6 days
Outstanding options, aggregate intrinsic value	$149,000
2003 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for issuance	3,500,000
Number of shares reserved and available for award	700,000
2007 NPDC Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for issuance	7,500,000
Number of shares reserved and available for award	6,200,720
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term of any option granted under the plans	10 years
Term for options granted to a 10% or greater holder of total voting stock	3 years
Sharebased Compensation Arrangement By Sharebased Payment Award Exercise Price Of Options Granted Percentage Of Fair Market Value	110.00%

Incentive_stock_plans_and_stoc2

Incentive stock plans and stock based compensation (Restricted Stock) (Details) (USD $)	1 Months Ended	12 Months Ended		0 Months Ended
	Dec. 19, 2012	Dec. 31, 2014	Dec. 31, 2013	Feb. 04, 2013	Jun. 10, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock price					1.9
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs, Granted	849,280
Restricted Stock Units (RSUs) [Member] | Four Key Executives Group One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs, Granted	479,280
Post-vesting restrictions, term	3 years
RSUs value per share	2.52
RSU, discount rate	20.00%
RSUs Value per share, less discount for post vesting restrictions on sale	2.02
Compensation	966,000
Restricted Stock Units (RSUs) [Member] | Four Key Executives Group Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs, Granted	370,000
Vesting period for plan	3 years
RSUs value per share	2.52
RSU, discount rate	11.00%
RSUs Value per share, less discount for post vesting restrictions on sale	2.25
Compensation		277,000	277,000
Unrecognized compensation cost		252,000
Unrecognized compensation recognition period		1 year
Restricted Stock Units (RSUs) [Member] | Certain employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs, Granted				17,738
RSUs outstanding		14,348
Post-vesting restrictions, term				3 years
Vesting period for plan				3 years
RSUs value per share				$2.40
RSU, discount rate				11.00%
RSUs Value per share, less discount for post vesting restrictions on sale				$2.25
Compensation		12,000	12,000
Unrecognized compensation cost		12,000
Unrecognized compensation recognition period		1 year 2 months 12 days
Restricted Stock Units (RSUs) [Member] | Employee [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs, Granted					30,000
Compensation		9,000
Unrecognized compensation cost		$46,000

Retirement_plans_Details

Retirement plans (Details) (Frozen defined benefit plans [Member], USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Frozen defined benefit plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Employer match of eligible compensation of employees	10.00%
Total obligation	$858,000	$902,000
Total obligation, payable in 2015	160,000
Annual liability payable to individual retired employees	50,000
Liability recorded at date of acquisition	885,000
Present value discount factor	14.00%
Amount to be amortized, as interest expense	1,027,000
Interest expense	92,000	122,000
Discounts	756,000	1,031,000
Decrease in obligation liability	($36,000)

Commitments_Contingencies_and_1

Commitments, Contingencies and Other (Details) (USD $)	1 Months Ended	12 Months Ended
	Aug. 31, 2014	Dec. 31, 2014	Dec. 31, 2013	Oct. 03, 2013	Aug. 02, 2013
	sqft
Commitments And Contingencies [Line Items]
Amount of settlement					$2,375,000
Payment for settlement				2,375,000
Loss in connection with Avoidance Action			-2,375,000
Insurance claim settlement, amount awarded to company		525,000
Lease, square footage	10,000
Future minimum payments 2015		234,000
Future minimum payments 2016		240,000
Future minimum payments 2017		248,000
Future minimum payments 2018		255,000
Future minimum payments 2019		196,000
Rent expense		165,000	90,000
Deferred rent		68,000
Chief Executive Officer [Member]
Commitments And Contingencies [Line Items]
Employment agreements		5 years
Annual base salary		300,000
Board of Directors Chairman [Member]
Commitments And Contingencies [Line Items]
Annual base salary		200,000
Executive Officer [Member]
Commitments And Contingencies [Line Items]
Employment agreements		3 years
Annual base salary		250,000
Bonus awarded		114,000
Restricted stock units value per share		$2
Number of restricted stock units awarded for bonus		114,000
Bonus paid		$28,500

Related_party_transactions_Det

Related party transactions (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	13-May-14	Oct. 31, 2012
Related Party Transaction [Line Items]
Operating expenses	$9,144,000	$9,626,000
Bedford Oak [Member] | Sublease arrangement [Member]
Related Party Transaction [Line Items]
Monthly sublease payment amount			27,600	40,700
Operating expenses	397,000	488,000
Winthrop [Member]
Related Party Transaction [Line Items]
Investment management and distribution fees	$794,000	$938,000