Annual report pursuant to Section 13 and 15(d)

Loans Receivable

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Loans Receivable
12 Months Ended
Dec. 31, 2016
Loans Receivable [Abstract]  
LOANSRECEIVABLE
4. LOANS RECEIVABLE

 

Loans receivable as of December 31, 2016 and 2015 consisted of the following:

 

    December 31,  
    2016     2015  
Loans to NGNWare   $ -     $ 100  
Loans to employees, net of reserves of $891 and $0, respectively, due December 2017     37       300  
Loan to third party, due December 2017     345       -  
Loans receivable   $ 382     $ 400  

 

These notes bear interest at rates between 2% and 3% per annum. As of December 31, 2016, the value of the collateral was below the value of the outstanding loans to employees. As a result, the Company recorded a reserve of $891 on the balance of loans to employees.