SMG Industries (SMGI) 10-Q 14 Nov 16 2016 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Nov. 11, 2016
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Entity Registrant Name	SMG Indium Resources Ltd.
Entity Central Index Key	1,426,506
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Trading Symbol	SMGI
Entity Common Stock, Shares Outstanding		1,744,569

CONDENSED BALANCE SHEETS

CONDENSED BALANCE SHEETS - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Current Assets:
Cash and cash equivalents	$ 701,264	$ 960,351
Prepaid expenses and other current assets	25,461	43,064
Total Assets	726,725	1,003,415
Current Liabilities:
Accounts payable and accrued expenses	95,607	73,180
Total Liabilities	95,607	73,180
Commitments and Contingencies
Stockholders' Equity:
Preferred stock - $0.001 par value: authorized 1,000,000 shares at September 30, 2016 and December 31, 2015; issued and outstanding none at September 30, 2016 and December 31, 2015	0	0
Common stock - $0.001 par value: authorized 25,000,000 shares at September 30, 2016 and December 31, 2015; issued 1,883,639 shares at September 30, 2016 and December 31, 2015; and outstanding 1,744,569 shares at September 30, 2016 and December 31, 2015	1,884	1,884
Additional paid-in capital	7,279,464	7,270,764
Accumulated deficit	(6,455,532)	(6,147,715)
Less treasury stock at cost: 139,070 shares at September 30, 2016 and December 31, 2015	(194,698)	(194,698)
Total Stockholders' Equity	631,118	930,235
Total Liabilities and Stockholders' Equity	$ 726,725	$ 1,003,415

CONDENSED BALANCE SHEETS _Paren

CONDENSED BALANCE SHEETS [Parenthetical] - $ / shares	Sep. 30, 2016	Dec. 31, 2015
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	25,000,000	25,000,000
Common stock, shares issued	1,883,639	1,883,639
Common stock, shares outstanding	1,744,569	1,744,569
Treasury Stock, Shares	139,070	139,070

CONDENSED STATEMENTS OF OPERATI

CONDENSED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Operating costs:
Operating expenses - related party	$ 18,000	$ 22,500	$ 57,000	$ 67,500
Other general and administrative expenses	76,548	110,617	251,452	302,301
Total operating costs	94,548	133,117	308,452	369,801
Operating loss	(94,548)	(133,117)	(308,452)	(369,801)
Other income:
Interest income	205	1,969	635	6,041
Net loss	$ (94,343)	$ (131,148)	$ (307,817)	$ (363,760)
Net Loss Per Share
Basic and diluted (in dollars per share)	$ (0.05)	$ (0.07)	$ (0.18)	$ (0.19)
Weighted Average Number of Shares Outstanding
Basic and diluted (in shares)	1,744,569	1,874,569	1,744,569	1,880,582

CONDENSED STATEMENTS OF CASH FL

CONDENSED STATEMENTS OF CASH FLOWS - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash flows from operating activities:
Net loss	$ (307,817)	$ (363,760)
Adjustments to reconcile net loss to net cash used in operating activities
Share-based compensation	8,700	4,250
Changes in operating assets and liabilities:
Decrease (increase) in prepaid expenses and other current assets	17,603	(30,111)
Increase (decrease) in accounts payable and accrued expenses	22,427	(99,314)
Net cash used in operating activities	(259,087)	(488,935)
Cash flows from financing activities:
Purchase of treasury stock	0	(194,698)
Net cash used in financing activities	0	(194,698)
Net decrease in cash and cash equivalents	(259,087)	(683,633)
Cash and cash equivalents, at beginning of period	960,351	4,797,122
Cash and cash equivalents, at end of period	701,264	4,113,489
Supplemental cash flow disclosure - cash paid for income taxes	$ 0	$ 85,867

Organization and Nature of Busi

Organization and Nature of Business and Basis of Presentation	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation Of Financial Statements [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	Note 1 — Organization and Nature of Business and Basis of Presentation Organization and Nature of Business SMG Indium Resources Ltd. (the Company) is a corporation established pursuant to the laws of the State of Delaware on January 7, 2008. From inception through December 31, 2014, the Company operated in a single-segment business, the primary business purpose of which was to stockpile indium, a specialty metal that is being increasingly used as a raw material in a wide variety of consumer electronics manufacturing applications. As of December 31, 2014, the Company sold all of the indium held in its stockpile. As a result, the Company is no longer in the business of purchasing and selling indium. The Company’s board of directors has begun evaluating strategic options including the acquisition of a new line of business or the sale or full liquidation of the Company. In January 2016, the Company entered into an agreement with Brack Advisors LLC (Brack), a company owned by Richard A. Biele, one of our directors, to assist the Company in identifying, evaluating and negotiating strategic transactions, including but not limited to the acquisition of a new line of business and/or a reverse merger. However, there can be no assurance that the Company will enter into any such transaction, and if so, on terms favorable to the Company. In December 2014, the Company repurchased 6,678,358 78 16.1 2.41 1,883,639 650 139,070 0.2 1.40 450 1,744,569 In December 2015, the Company's board of directors approved a cash distribution to stockholders in the amount of $ 1.75 3.05 In March 2015, the Company’s chief executive officer and chief operating officer resigned and Ailon Grushkin, the Company’s chairman of the board of directors and president, was named chief executive officer. In March 2015, the Company also entered into a consulting agreement (2015 Nano Agreement) with Nano-Cap Advisors LLC (Nano) Mr. Grushkin is the only member of Nano. Pursuant to the terms of the 2015 Nano Agreement, Nano provided services normally provided by a chief executive officer of the Company, as determined and directed by the Company, and provided office facilities for the Company. The Company paid Nano $ 90 70 At September 30, 2016, we had approximately $ 0.7 0.4 Basis of Presentation The accompanying interim unaudited condensed financial statements have been prepared in accordance with U.S. generally accepted accounting principles (U.S. GAAP) and with the instructions to Form 10-Q and Article 10 of Regulation S-X as promulgated by the Securities and Exchange Commission (SEC). Accordingly, these interim unaudited condensed financial statements do not include all of the disclosures required by U.S. GAAP for complete financial statements. These interim unaudited condensed financial statements should be read in conjunction with the Company’s audited financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015, as filed with the SEC. In the opinion of management, the interim unaudited condensed financial statements included herein include all adjustments, all of which are of a normal recurring nature, necessary for a fair presentation of the results of operations for the interim periods presented. The condensed balance sheet at December 31, 2015 has been derived from the Company’s audited balance sheet as of December 31, 2015 included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015, as filed with the SEC. Operating results for the nine months ended September 30, 2016 are not necessarily indicative of the results that may be expected for the year ending December 31, 2016 or any interim period.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	Note 2 — Summary of Significant Accounting Policies The preparation of the financial statements and related disclosures in conformity with U.S. GAAP requires management to make estimates and assumptions that affect 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 reporting period. The most significant estimates relate to share-based compensation and income taxes. Actual results could differ from those estimates under different assumptions and conditions. The Company considers all highly liquid instruments with original maturities of 90 days or less at the time of purchase to be cash equivalents. The Company presents both basic and diluted net loss per share on the face of the condensed statements of operations. Basic net loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted per share calculations give effect to all potentially dilutive shares of common stock outstanding during the period, including stock options and warrants, and using the treasury-stock method. If anti-dilutive, the effect of potentially dilutive shares of common stock is ignored. For the three and nine months ended September 30, 2016 and 2015, 382,500 7,313,700 Income taxes are accounted under the asset-and-liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to the differences between the financial statement carrying amounts of existing assets and liabilities and the respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years 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 portion of any deferred tax asset for which it is more likely than not that a tax benefit will not be realized must then be offset by recording a valuation allowance. A valuation allowance has been established against all of the deferred tax assets, as it is more likely than not that these assets will not be realized given the Company’s expected operating losses. The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. For the three and nine months ended September 30, 2016 and 2015, no income taxes were recorded due to the Company’s operating loss. The Company measures the cost of employee services received in exchange for an award of equity instruments (share-based payments, or SBP) based on the grant-date fair value of the award. That cost is recognized over the period during which an employee is required to provide service in exchange for the SBP award—the requisite service period (vesting period). For SBP awards subject to conditions, compensation is not recognized until the performance condition is probable of occurrence. The grant-date fair value of share options is estimated using the Black-Scholes-Merton option-pricing model. Compensation expense for SBP awards granted to nonemployees is remeasured each period as the underlying options vest. The Company recorded non-cash charges for SBP of approximately $ 0 1 9 4 Share-Based Payment Arrangements, continued Nine Months Ended September 30, 2016 2015 Expected dividend yield 0 % 0 % Expected option term (years) 5 5 Expected volatility 13 % 13 % Risk-free interest rate 1.22 % 1.32-1.71 % The expected term of options granted represents the period of time that options granted are expected to be outstanding. The expected volatility was based on the volatility in the trading of the Company’s common stock. The assumed discount rate was the default risk-free five-year interest rate provided by Bloomberg L.P. The Company maintains cash deposits with banks that at times exceed applicable Federal Deposit Insurance Corporation limits. The Company reduces its exposure to credit risk by maintaining such deposits with high-quality financial institutions. The Company has not experienced any losses in such accounts. At September 30, 2016, the Company had cash on deposit of approximately $ 450 250 The Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible. The Company determines fair value based on assumptions that market participants would use in pricing an asset or liability in the principal or most advantageous market. For cash and cash equivalents and accounts payable, the carrying amounts approximated the fair values because of the immediate or short-term nature of those instruments.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2016
Stockholders' Equity Note [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	Note 3 — Stockholders’ Equity Common Stock In December 2015, the Company's board of directors approved a cash distribution to stockholders in the amount of $ 1.75 3.05 During the third quarter of 2015, the Company’s board of directors approved a program to repurchase up to $ 650 139,070 0.2 1.40 1,744,569 Equity Compensation Plan Under the Company’s 2008 Equity Incentive Plan (the Plan), the Company may grant incentive stock options, nonqualified stock options, restricted and unrestricted stock awards and other stock-based awards. Pursuant to the Plan, 1,000,000 617,500 Stock Options Weighted Aggregate Aggregate Exercise Price Average Number Exercise Price Range Exercise Price Outstanding, December 31, 2015 564,999 $ 2,588,693 $ 1.78-7.50 $ 4.58 Granted 290,000 69,600 $ 0.24 $ 0.24 Exercise - - - - Cancelled, Forfeited or Expired (472,499) (2,362,518) $ 4.50-7.50 - Outstanding, September 30, 2016 382,500 $ 295,775 $ 0.24-3.90 $ 0.77 The weighted average grant-date fair value was $ 0.03 0.28 4 3 0

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2016
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	Note 4 — Related Party Transactions In March 2015, the Company’s chief executive officer and chief operating officer resigned and Ailon Grushkin, the Company’s chairman of the board of directors and president, was named chief executive officer. In March 2015, the Company also entered into the 2015 Nano Agreement. Mr. Grushkin is the only member of Nano. Pursuant to the terms of the 2015 Nano Agreement, Nano provided services normally provided by a chief executive officer of the Company, as determined and directed by the Company, and provided office facilities for the Company. In January 2016, the Company entered into the 2016 Nano Agreement under which Nano is to perform the services indicated above for an annual fee of $ 70 18 23 53 68 In January 2016, the Company entered into a consulting agreement with Brack (the Brack Agreement), that provides for the payment of $ 50 13 38 The Company paid a relative of one of its directors to perform outsourced secretarial services for the Company $ 5 15

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	Note 5 — Commitments and Contingencies Consulting Fees As described in Note 4, the Company is required to pay a fee to Nano, a related party, of $ 70 50 20 Compensation The Company has an arrangement with its chief financial officer for an annual base compensation of $ 60 10 1

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2016
Subsequent Events [Abstract]
Subsequent Events [Text Block]	Note 6 — Subsequent Events The Company evaluates events that have occurred after the balance sheet date but before the condensed financial statements are issued. Based upon the evaluation, the Company did not identify any recognized or unrecognized subsequent events that have required adjustment or disclosure in the condensed financial statements.

Summary of Significant Accoun12

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Use Of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of the financial statements and related disclosures in conformity with U.S. GAAP requires management to make estimates and assumptions that affect 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 reporting period. The most significant estimates relate to share-based compensation and income taxes. Actual results could differ from those estimates under different assumptions and conditions.
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents The Company considers all highly liquid instruments with original maturities of 90 days or less at the time of purchase to be cash equivalents.
Earnings Per Share, Policy [Policy Text Block]	Basic and Diluted Net Loss per Share The Company presents both basic and diluted net loss per share on the face of the condensed statements of operations. Basic net loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted per share calculations give effect to all potentially dilutive shares of common stock outstanding during the period, including stock options and warrants, and using the treasury-stock method. If anti-dilutive, the effect of potentially dilutive shares of common stock is ignored. For the three and nine months ended September 30, 2016 and 2015, 382,500 7,313,700
Income Tax, Policy [Policy Text Block]	Income Taxes Income taxes are accounted under the asset-and-liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to the differences between the financial statement carrying amounts of existing assets and liabilities and the respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years 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 portion of any deferred tax asset for which it is more likely than not that a tax benefit will not be realized must then be offset by recording a valuation allowance. A valuation allowance has been established against all of the deferred tax assets, as it is more likely than not that these assets will not be realized given the Company’s expected operating losses. The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. For the three and nine months ended September 30, 2016 and 2015, no income taxes were recorded due to the Company’s operating loss.
Share-Based Compensation, Option and Incentive Plans Policy [Policy Text Block]	Share-Based Payment Arrangements The Company measures the cost of employee services received in exchange for an award of equity instruments (share-based payments, or SBP) based on the grant-date fair value of the award. That cost is recognized over the period during which an employee is required to provide service in exchange for the SBP award—the requisite service period (vesting period). For SBP awards subject to conditions, compensation is not recognized until the performance condition is probable of occurrence. The grant-date fair value of share options is estimated using the Black-Scholes-Merton option-pricing model. Compensation expense for SBP awards granted to nonemployees is remeasured each period as the underlying options vest. The Company recorded non-cash charges for SBP of approximately $ 0 1 9 4 Share-Based Payment Arrangements, continued Nine Months Ended September 30, 2016 2015 Expected dividend yield 0 % 0 % Expected option term (years) 5 5 Expected volatility 13 % 13 % Risk-free interest rate 1.22 % 1.32-1.71 % The expected term of options granted represents the period of time that options granted are expected to be outstanding. The expected volatility was based on the volatility in the trading of the Company’s common stock. The assumed discount rate was the default risk-free five-year interest rate provided by Bloomberg L.P.
Off-Balance-Sheet Credit Exposure, Policy [Policy Text Block]	Concentration of Market Risk The Company maintains cash deposits with banks that at times exceed applicable Federal Deposit Insurance Corporation limits. The Company reduces its exposure to credit risk by maintaining such deposits with high-quality financial institutions. The Company has not experienced any losses in such accounts. At September 30, 2016, the Company had cash on deposit of approximately $ 450 250
Fair Value Of Financial Instruments, Policy [Policy Text Block]	Fair Value The Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible. The Company determines fair value based on assumptions that market participants would use in pricing an asset or liability in the principal or most advantageous market. For cash and cash equivalents and accounts payable, the carrying amounts approximated the fair values because of the immediate or short-term nature of those instruments.

Summary of Significant Accoun13

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	The fair value of each option granted during the nine months ended September 30, 2016 and 2015 was estimated on the date of grant using the Black-Scholes-Merton option-pricing model with the weighted average assumptions in the following table: Nine Months Ended September 30, 2016 2015 Expected dividend yield 0 % 0 % Expected option term (years) 5 5 Expected volatility 13 % 13 % Risk-free interest rate 1.22 % 1.32-1.71 %

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2016
Stockholders' Equity Note [Abstract]
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	Summary stock option information is as follows: Weighted Aggregate Aggregate Exercise Price Average Number Exercise Price Range Exercise Price Outstanding, December 31, 2015 564,999 $ 2,588,693 $ 1.78-7.50 $ 4.58 Granted 290,000 69,600 $ 0.24 $ 0.24 Exercise - - - - Cancelled, Forfeited or Expired (472,499) (2,362,518) $ 4.50-7.50 - Outstanding, September 30, 2016 382,500 $ 295,775 $ 0.24-3.90 $ 0.77

Organization and Nature of Bu15

Organization and Nature of Business and Basis of Presentation (Details Textual) - USD ($)	3 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Sep. 30, 2016
Organization And Nature Of Business [Line Items]
Cash and Cash Equivalents, at Carrying Value, Total	$ 4,113,489		$ 960,351	$ 4,797,122	$ 701,264
Common Stock, Shares, Outstanding			1,744,569	1,883,639	1,744,569
Stock Repurchase Program, Authorized Amount	$ 650,000
Treasury Stock Acquired, Average Cost Per Share	$ 1.40
Payment For Consulting Services			$ 90,000
Stock Repurchase Program, Remaining Authorized Repurchase Amount					$ 450,000
Estimated Annual Cash Operating Expenses					$ 400,000
Common Stock [Member]
Organization And Nature Of Business [Line Items]
Stock Repurchased During Period, Value	$ 200,000			$ 16,100,000
Stock Repurchased During Period, Shares	139,070			6,678,358
Percentage Of Outstanding Shares Repurchased				78.00%
Purchase Price Per Share	$ 1.40			$ 2.41
Stock Repurchase Program, Authorized Amount	$ 650,000
Ordinary Dividends Paid Amount Per Share			$ 1.75
Cash Distributions to Stockholders Amount			$ 3,050,000
Scenario, Forecast [Member]
Organization And Nature Of Business [Line Items]
Consultant Fees		$ 70,000

Summary of Significant Accoun16

Summary of Significant Accounting Policies (Details)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Summary Of Significant Accounting Policies [Line Items]
Expected dividend yield	0.00%	0.00%
Expected option term (years)	5 years	5 years
Expected volatility	13.00%	13.00%
Risk-free interest rate	1.22%
Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Risk-free interest rate		1.71%
Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Risk-free interest rate		1.32%

Summary of Significant Accoun17

Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Jun. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Summary Of Significant Accounting Policies [Line Items]
Share Based Payment Expense	$ 0	$ 1		$ 9	$ 4
Measurement Of Recognized Income Tax Position Description				Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized.
Cash, Uninsured Amount	450			$ 450
Cash, FDIC Insured Amount	$ 250			$ 250
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount			382,500		7,313,700

Stockholders' Equity (Details)

Stockholders' Equity (Details) - Employee Stock Option [Member]	9 Months Ended
	Sep. 30, 2016USD ($)$ / sharesshares
Schedule of Capitalization, Equity [Line Items]
Outstanding - Aggregate Number - Beginning Balance | shares	564,999
Granted - Aggregate Number | shares	290,000
Exercise - Aggregate Number | shares	0
Cancelled, Forfeited or Expired - Aggregate Number | shares	(472,499)
Outstanding - Aggregate Number - Ending Balance | shares	382,500
Outstanding - Aggregate Exercise Price - Beginning Balance | $	$ 2,588,693
Granted - Aggregate Exercise Price | $	69,600
Exercise - Aggregate Exercise Price | $	0
Cancelled, Forfeited or Expired - Aggregate Exercise Price | $	(2,362,518)
Outstanding - Aggregate Exercise Price - Ending Balance | $	$ 295,775
Outstanding - Weighted Average Exercise Price - Beginning Balance	$ 4.58
Granted - Weighted Average Exercise Price	0.24
Exercise - Weighted Average Exercise Price	0
Cancelled, Forfeited or Expired - Weighted Average Exercise Price	0
Outstanding - Weighted Average Exercise Price - Ending Balance	0.77
Maximum [Member]
Schedule of Capitalization, Equity [Line Items]
Outstanding - Weighted Average Exercise Price - Beginning Balance	7.50
Cancelled, Forfeited or Expired - Weighted Average Exercise Price	7.50
Outstanding - Weighted Average Exercise Price - Ending Balance	3.90
Minimum [Member]
Schedule of Capitalization, Equity [Line Items]
Outstanding - Weighted Average Exercise Price - Beginning Balance	1.78
Cancelled, Forfeited or Expired - Weighted Average Exercise Price	4.50
Outstanding - Weighted Average Exercise Price - Ending Balance	$ 0.24

Stockholders' Equity (Details T

Stockholders' Equity (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	9 Months Ended		12 Months Ended
	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015	Dec. 31, 2014
Schedule of Capitalization, Equity [Line Items]
Common Stock, Shares, Outstanding		1,744,569		1,744,569	1,883,639
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value		$ 3		$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)		$ 0.03	$ 0.28
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term		4 years
Stock Repurchase Program, Authorized Amount	$ 650		$ 650
Equity Incentive Plan 2008 [Member]
Schedule of Capitalization, Equity [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant		617,500
Common Stock, Capital Shares Reserved for Future Issuance		1,000,000
Common Stock [Member]
Schedule of Capitalization, Equity [Line Items]
Stock Repurchased During Period, Shares	139,070				6,678,358
Stock Repurchased During Period, Value	$ 200				$ 16,100
Stock Repurchase Program, Authorized Amount	$ 650		$ 650
Purchase Price Per Share	$ 1.40		$ 1.40		$ 2.41
Dividends Paid Amount Per Share				$ 1.75
Cash Distributions to Stockholders Amount				$ 3,050

Related Party Transactions (Det

Related Party Transactions (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2016	Dec. 31, 2015
Related Party Transaction [Line Items]
Amount Paid To Relative Of Officer For Secretarial Service	$ 5	$ 5	$ 15	$ 15
Payment For Consulting Services						$ 90
Brack Advisors LLC [Member]
Related Party Transaction [Line Items]
Payment For Consulting Services	13		38
Nano [Member]
Related Party Transaction [Line Items]
Payment For Consulting Services	$ 18	$ 23	$ 53	$ 68
Scenario, Forecast [Member] | Brack Advisors LLC [Member]
Related Party Transaction [Line Items]
Amount To Be Paid For Consulting Services					$ 50
Scenario, Forecast [Member] | Nano [Member]
Related Party Transaction [Line Items]
Consultant Fees Payable					$ 70

Commitments and Contingencies (

Commitments and Contingencies (Details Textual) - Scenario, Forecast [Member] $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)
Loss Contingencies [Line Items]
Annual Base Compensation Payable To Chief Financial Officer, Quarterly Compensation, Amount	$ 60
Compensation Payable To Non Executive Board Member Annual Compensation Amount	10
Compensation Payable To Non Executive Board Member For Each Meeting Attended In Person, Amount	1
Nano-Cap Advisors LLC [Member]
Loss Contingencies [Line Items]
Amount To Be Paid For Consulting Services	70
Brack Advisors LLC [Member]
Loss Contingencies [Line Items]
Amount To Be Paid For Consulting Services	50
Amount To Be Paid For Secretarial Services	$ 20