SMG Industries (SMGI) 10-K 30 Mar 17 2016 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2016	Mar. 28, 2017	Jun. 30, 2016
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY
Entity Registrant Name	SMG Indium Resources Ltd.
Entity Central Index Key	1,426,506
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Smaller Reporting Company
Entity Public Float			$ 187,535
Trading Symbol	SMGI
Entity Common Stock, Shares Outstanding		1,744,569

BALANCE SHEETS

BALANCE SHEETS - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Current Assets:
Cash and cash equivalents	$ 614,490	$ 960,351
Prepaid expenses and other current assets	18,678	43,064
Total Assets	633,168	1,003,415
Current Liabilities:
Accounts payable and accrued expenses	80,565	73,180
Total Liabilities	80,565	73,180
Commitments and Contingencies
Stockholders' Equity:
Preferred stock - $0.001 par value: authorized 1,000,000 shares at December 31, 2016 and 2015; issued and outstanding none at December 31, 2016 and 2015	0	0
Common stock - $0.001 par value: authorized 25,000,000 shares at December 31, 2016 and 2015; issued 1,883,639 shares at December 31, 2016 and 2015; and outstanding 1,744,569 shares at December 31, 2016 and 2015	1,884	1,884
Additional paid-in capital	7,279,464	7,270,764
Accumulated deficit	(6,534,047)	(6,147,715)
Less treasury stock at cost: 139,070 shares at December 31, 2016 and 2015	(194,698)	(194,698)
Total Stockholders' Equity	552,603	930,235
Total Liabilities and Stockholders' Equity	$ 633,168	$ 1,003,415

BALANCE SHEETS _Parenthetical_

BALANCE SHEETS [Parenthetical] - $ / shares	Dec. 31, 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

STATEMENTS OF OPERATIONS

STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Operating costs:
Operating expenses - related parties	$ 120,000	$ 90,000
Other general and administrative expenses	267,146	378,336
Total operating costs	387,146	468,336
Operating loss	(387,146)	(468,336)
Other income:
Interest income	814	7,434
Net loss	$ (386,332)	$ (460,902)
Net Loss Per Share
Basic and diluted	$ (0.22)	$ (0.25)
Weighted Average Number of Shares Outstanding
Basic and diluted	1,744,569	1,846,300

STATEMENTS OF CHANGES IN STOCKH

STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($)	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Treasury Stock [Member]
Balance at Dec. 31, 2014	$ 4,633,480	$ 1,884	$ 10,318,409	$ (5,686,813)	$ 0
Balance (In shares) at Dec. 31, 2014		1,883,639
Awards of stock options	5,350	$ 0	5,350	0	0
Purchase of 139,070 treasury shares	(194,698)	0	0	0	(194,698)
Cash distributions to stockholders	(3,052,995)	0	(3,052,995)	0	0
Net loss	(460,902)	0	0	(460,902)	0
Balance at Dec. 31, 2015	930,235	$ 1,884	7,270,764	(6,147,715)	(194,698)
Balance (In shares) at Dec. 31, 2015		1,883,639
Awards of stock options	8,700	$ 0	8,700	0	0
Net loss	(386,332)	0	0	(386,332)	0
Balance at Dec. 31, 2016	$ 552,603	$ 1,884	$ 7,279,464	$ (6,534,047)	$ (194,698)
Balance (In shares) at Dec. 31, 2016		1,883,639

STATEMENTS OF CHANGES IN STOCK6

STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY [Parenthetical]	12 Months Ended
	Dec. 31, 2016shares
Treasury Stock, Shares, Acquired	139,070

STATEMENTS OF CASH FLOWS

STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Cash flows from operating activities:
Net loss	$ (386,332)	$ (460,902)
Adjustments to reconcile net loss to net cash used in operating activities:
Share-based compensation	8,700	5,350
Changes in operating assets and liabilities:
Increase (decrease) in accounts payable and accrued expenses	24,386	(17,448)
Increase (decrease) in accounts payable and accrued expenses	7,385	(116,078)
Net cash used in operating activities	(345,861)	(589,078)
Cash flows from financing activities:
Cash distribution to stockholders	0	(3,052,995)
Purchase of treasury stock	0	(194,698)
Net cash used in financing activities	0	(3,247,693)
Net decrease in cash and cash equivalents	(345,861)	(3,836,771)
Cash and cash equivalents, at beginning of period	960,351	4,797,122
Cash and cash equivalents, at end of period	614,490	960,351
Supplemental cash flow disclosure - cash paid for income taxes	$ 0	$ 85,867

Organization and Nature of Busi

Organization and Nature of Business	12 Months Ended
	Dec. 31, 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 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, the Company operated in a single-segment business whose primary business purpose 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 connection therewith, the Company engaged Brack Advisors LLC (Brack), a company owned by Richard A. Biele, one of the Company’s directors, to assist in identifying, evaluating and negotiating strategic transactions. The Company paid Brack $ 50 In December 2015, the Company's board of directors approved a cash distribution to stockholders in the amount of $ 1.75 3.05 650 139,070 0.2 1.40 1,744,569 In 2015, management services were provided under an agreement (2015 Nano Agreement) with Nano-Cap Advisors LLC (Nano) in which Ailon Z. Grushkin, chairman of our board of directors, president and chief executive officer, is the sole shareholder. Under the arrangement, which was approved by our board of directors, the Company agreed to pay Nano $ 90 70 35 The Company’s expenses will be required to be satisfied by cash on hand at December 31, 2016 of approximately $ 0.6 0.3

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 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 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 years ended December 31, 2016 and 2015, 377,500 7,318,700 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 year ended December 31, 2016 and 2015, no income taxes were recorded due to the Company’s losses. 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 $ 9 5 Year Ended December 31, 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 December 31, 2016, the Company had cash on deposit of approximately $ 364 250 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. In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements-Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern,

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2016
Stockholders' Equity Note [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	Note 3 — Stockholders’ Equity Preferred Stock The Company is authorized to issue 1,000,000 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, 1,000,000 622,500 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 Exercised - - - - Cancelled, Forfeited or Expired (477,499) (2,381,143) $ 3.55-7.50 $ 4.99 Outstanding, December 31, 2016 377,500 $ 277,150 $ 0.24-3.40 $ 0.73 The weighted average grant-date fair value was $ 0.03 0.27 4 9 0

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 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 for a fee of $ 90 70 In January 2016, the Company entered into a consulting agreement with Brack (the Brack Agreement), under which the Company paid $ 50 The Company paid a relative of one of its directors $ 20

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	Note 5 — Income Taxes Year Ended December 31, 2016 2015 Current $ - $ - Deferred (141) 164 Valuation allowance 141 (164) Income tax expense $ - $ - For the Year Ended December 31, 2016 2015 Federal income tax provision at statutory rates 34.0 % 34.0 % State income tax, net of federal benefit 1.2 % 1.2 % Change in valuation allowance (35.1) % (35.1) % Other (0.1) % (0.1) % Effective tax rate 0 % 0 % December 31, 2016 2015 Deferred tax assets: Net operating tax loss carryforwards 1,137 $ 1,281 Expenses not currently deductible 82 79 Total 1,219 1,360 Valuation allowance (1,219) (1,360) Net deferred taxes $ - $ - A valuation allowance is provided when it is more likely than not that some portion or all of the deferred tax assets will not be realized. The valuation allowances for 2016 and 2015 have been applied to offset the deferred tax assets in recognition of the uncertainty that such tax benefits will be realized as the Company expects to incur losses for the foreseeable future. The differences between book income and tax income relate principally to revenue recognition and stock compensation expenses. At December 31, 2016, the Company has available net operating loss carryforwards for federal and state income tax reporting purposes of approximately $ 3.2 At December 31, 2016, the Company did not have any unrecognized tax benefits. All of the Company’s federal and state income tax returns, beginning in 2013, are subject to audit for those tax years.

Accounts Payable and Accrued Ex

Accounts Payable and Accrued Expenses	12 Months Ended
	Dec. 31, 2016
Payables and Accruals [Abstract]
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	Note 6 — Accounts Payable and Accrued Expenses December 31, 2016 2015 Accrued professional services 41 36 Tax accrual 38 35 Other 2 2 $ 81 $ 73

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	Note 7 — Commitments and Contingencies Consulting Fees In 2017, the Company is required to pay a fee to Nano, a related party, of $ 35 25 10 Compensation The Company has an arrangement with its chief financial officer for base compensation of $ 30 10 1

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2016
Subsequent Events [Abstract]
Subsequent Events [Text Block]	Note 8 — Subsequent Events The Company evaluates events that have occurred after the balance sheet date but before the 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 financial statements except as stated below: In March 2017, we entered into an amended consulting agreement (Amended 2016 Nano Agreement) with Nano, a related party (see note 4), Pursuant to the terms of the Amended 2016 Nano Agreement, Nano will continue to provide management services and office space to the Company during 2017 for a fee of $ 35 In March 2017, we entered into an amended consulting agreement (Amended Brack Agreement) with Brack, a related party (see note 4). Pursuant to the terms of the Amended Brack Agreement, Brack will continue to assist in identifying, evaluating and negotiating strategic transactions for the Company during 2017 for a fee of $ 25

Summary of Significant Accoun16

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 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 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 years ended December 31, 2016 and 2015, 377,500 7,318,700
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 year ended December 31, 2016 and 2015, no income taxes were recorded due to the Company’s losses.
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 $ 9 5 Year Ended December 31, 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 December 31, 2016, the Company had cash on deposit of approximately $ 364 250
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.
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements-Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern,

Summary of Significant Accoun17

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 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 years ended December 31, 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: Year Ended December 31, 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)	12 Months Ended
	Dec. 31, 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 Exercised - - - - Cancelled, Forfeited or Expired (477,499) (2,381,143) $ 3.55-7.50 $ 4.99 Outstanding, December 31, 2016 377,500 $ 277,150 $ 0.24-3.40 $ 0.73

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	The components of income taxes are as follows, in thousands: Year Ended December 31, 2016 2015 Current $ - $ - Deferred (141) 164 Valuation allowance 141 (164) Income tax expense $ - $ -
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Reconciliation between the provision for income taxes, computed by applying the statutory federal income tax rate of 34% to net income before income taxes, and the actual income tax expense follows: For the Year Ended December 31, 2016 2015 Federal income tax provision at statutory rates 34.0 % 34.0 % State income tax, net of federal benefit 1.2 % 1.2 % Change in valuation allowance (35.1) % (35.1) % Other (0.1) % (0.1) % Effective tax rate 0 % 0 %
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	Components of deferred tax asset are as follows, in thousands: December 31, 2016 2015 Deferred tax assets: Net operating tax loss carryforwards 1,137 $ 1,281 Expenses not currently deductible 82 79 Total 1,219 1,360 Valuation allowance (1,219) (1,360) Net deferred taxes $ - $ -

Accounts Payable and Accrued 20

Accounts Payable and Accrued Expenses (Tables)	12 Months Ended
	Dec. 31, 2016
Payables and Accruals [Abstract]
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]	December 31, 2016 2015 Accrued professional services 41 36 Tax accrual 38 35 Other 2 2 $ 81 $ 73

Organization and Nature of Bu21

Organization and Nature of Business (Details Textual) - USD ($)	3 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Organization And Nature Of Business [Line Items]
Management Fee Expense		$ 70,000	$ 90,000
Cash and Cash Equivalents, at Carrying Value, Total		$ 614,490	$ 960,351	$ 4,797,122
Common Stock, Shares, Outstanding		1,744,569	1,744,569
Stock Repurchase Program, Authorized Amount	$ 650,000
Treasury Stock Acquired, Average Cost Per Share	$ 1.40
Annual Estimated Cash Expenses		$ 300,000
Amended 2016 Nano Agreement [Member]
Organization And Nature Of Business [Line Items]
Management Fee Payable		35,000
Brack Advisors Llc [Member]
Organization And Nature Of Business [Line Items]
Payment For Consulting Services		$ 50,000
Common Stock [Member]
Organization And Nature Of Business [Line Items]
Stock Repurchased During Period, Value	$ 200,000
Stock Repurchased During Period, Shares	139,070
Ordinary Dividends Paid Amount Per Share			$ 1.75
Cash Distributions to Stockholders Amount			$ 3,050,000

Summary of Significant Accoun22

Summary of Significant Accounting Policies (Details)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 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 Accoun23

Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Summary Of Significant Accounting Policies [Line Items]
Share Based Payment Expense	$ 9	$ 5
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	$ 364
Cash, FDIC Insured Amount	$ 250
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	377,500	7,318,700

Stockholders' Equity (Details)

Stockholders' Equity (Details) - Employee Stock Option [Member]	12 Months Ended
	Dec. 31, 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	(477,499)
Outstanding - Aggregate Number - Ending Balance | shares	377,500
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 | $	(2,381,143)
Outstanding - Aggregate Exercise Price - Ending Balance | $	$ 277,150
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	4.99
Outstanding - Weighted Average Exercise Price - Ending Balance	0.73
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	3.40
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	3.55
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	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2016	Dec. 31, 2015
Schedule of Capitalization, Equity [Line Items]
Preferred Stock, Shares Authorized		1,000,000	1,000,000
Common Stock, Shares, Outstanding		1,744,569	1,744,569
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value		$ 9	$ 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	$ 0.27
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term		4 years
Stock Repurchase Program, Authorized Amount	$ 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		622,500
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
Stock Repurchased During Period, Value	$ 200
Purchase Price Per Share	$ 1.40
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	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Related Party Transaction [Line Items]
Management Fee Expense	$ 70	$ 90
Amount Paid To Relative Of Officer For Secretarial Service	20	$ 20
Brack Advisors Llc [Member]
Related Party Transaction [Line Items]
Amount To Be Paid For Consulting Services	$ 50

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Current	$ 0	$ 0
Deferred	(141)	164
Valuation allowance	141	(164)
Income tax expense	$ 0	$ 0

Income Taxes (Details 1)

Income Taxes (Details 1)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Federal income tax provision at statutory rates	34.00%	34.00%
State income tax, net of federal benefit	1.20%	1.20%
Change in valuation allowance	(35.10%)	(35.10%)
Other	(0.10%)	(0.10%)
Effective tax rate	0.00%	0.00%

Income Taxes (Details 2)

Income Taxes (Details 2) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Deferred tax assets:
Net operating tax loss carryforwards	$ 1,137	$ 1,281
Expenses not currently deductible	82	79
Total	1,219	1,360
Valuation allowance	(1,219)	(1,360)
Net deferred taxes	$ 0	$ 0

Income Taxes (Details Textual)

Income Taxes (Details Textual) $ in Millions	12 Months Ended
	Dec. 31, 2016USD ($)
Operating Loss Carryforwards	$ 3.2
Operating Loss Carryforwards, Limitations on Use	operating loss may be limited if the company experiences a change in ownership of more than 50 percentage points within a three-year period.

Accounts Payable and Accrued 31

Accounts Payable and Accrued Expenses (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Accrued professional services	$ 41,000	$ 36,000
Tax accrual	38,000	35,000
Other	2,000	2,000
Accounts Payable and Accrued Liabilities, Current	$ 80,565	$ 73,180

Commitments and Contingencies (

Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Loss Contingencies [Line Items]
Amount Paid To Relative Of Officer For Secretarial Service		$ 20	$ 20
Brack Advisors Llc [Member]
Loss Contingencies [Line Items]
Payment For Consulting Services		$ 50
Scenario, Forecast [Member]
Loss Contingencies [Line Items]
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
Scenario, Forecast [Member] | Chief Financial Officer [Member]
Loss Contingencies [Line Items]
Officers' Compensation	30
Scenario, Forecast [Member] | Brack Advisors Llc [Member]
Loss Contingencies [Line Items]
Amount Paid To Relative Of Officer For Secretarial Service	10
Payment For Consulting Services	25
Scenario, Forecast [Member] | Nano-Cap Advisors LLC [Member]
Loss Contingencies [Line Items]
Payment For Consulting Services	$ 35

Subsequent Events (Details Text

Subsequent Events (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Nano-Cap Advisors LLC [Member] | Scenario, Forecast [Member]
Payment For Consulting Services	$ 35
Brack Advisors Llc [Member]
Payment For Consulting Services		$ 50
Brack Advisors Llc [Member] | Scenario, Forecast [Member]
Payment For Consulting Services	$ 25