results of operations year ended december 31 , 2017 compared to year ended december 31 , 2016 summary our consolidated net loss for the year ended december 31 , 2017 was $ 853 , or $ 0.01 per share , compared with our consolidated net loss of $ 3,426 , or $ 0.07 per share , for the same period in 2016. for the year ended december 31 , 2017 , the decrease in consolidated net loss was primarily the result of a decrease in corporate administration expenses of $ 1,423 , a decrease in impairment charges of $ 407 , a decrease in our reclamation obligation of $ 225 and the gain on the revaluation of the option liability of $ 209. exploration and evaluation exploration and evaluation costs were $ 138 for the year ended december 31 , 2017 and approximating $ 394 for the same period in 2016. during 2016 , we suspended the majority of permitting activities while continuing the work necessary to maintain our assets at the bear lodge ree project . 47 corporate administration corporate administration costs decreased to $ 1,183 for year ended december 31 , 2017 , compared with $ 2,606 for the same period in 2016 , a decrease of $ 1,423. during the year ended december 31 , 2016 , corporate administration costs included one-time expenses of $ 950 incurred in placing the bear lodge ree project on care-and-maintenance and severing all but one of our full-time employees . reclamation obligation revision during the year ended december 31 , 2017 , we reduced our reclamation obligation by $ 225 based on a revision of our previous estimate . the wyoming department of environmental quality concurred that the completed reclamation work was in compliance with its standards and the estimated amount for the remainder of the reclamation activities was $ 132. there were no such reductions during the year ended december 31 , 2016. impairment charges on october 20 , 2016 , we executed an asset purchase agreement whereby the company agreed to sell its section 16 real property to a private party , retaining a five-year repurchase option . we evaluated the carrying value of the section 16 real property based on the sale price of $ 600. as a result , we reduced the carrying value of the land by $ 380 to $ 600 in the third quarter of 2016. on october 26 , 2016 , the parties closed the asset sale , and the company received net proceeds of approximately $ 595. additionally , as the bear lodge property is on care-and-maintenance , we have recorded an impairment charge of $ 27 for the year ended december 31 , 2016 to reduce the capitalized acquisition costs to zero . there were no impairment charges in 2017. gain on revaluation of option liability gain on the revaluation of the option liability was $ 209 for the year ended december 31 , 2017. this gain is directly related to the valuation of the option agreement with synchron ( see financial position , liquidity and capital resources - strategic investment discussion below ) . as the option agreement is considered a derivative liability , we revalue the option liability at the end of each reporting period , until the option is exercised or expired . any gains or losses from the revaluation are recorded to the consolidated statements of operations . there were no similar transactions in 2016. amortization of intellectual property income during the year ended december 31 , 2017 , we amortized $ 64 of deferred intellectual property income . we incurred deferred intellectual property income due to the intellectual property rights agreement with synchron ( see financial position , liquidity and capital resources - strategic investment discussion below ) . as synchron will obtain exclusive rights to the intellectual property if it exercises the option agreement , the value of the intellectual property rights agreement is considered deferred income . we will amortize the deferred income using the straight-line method over a period of four years ( the term of the option agreement ) . there were no similar transactions in 2016. financial position , liquidity and capital resources operating activities net cash used in operating activities was $ 1,273 for the year ended december 31 , 2017 , as compared with $ 3,637 for the same period in 2016. the decrease in cash used of $ 2,364 from the prior period was primarily the result of decreased spending on corporate administration expenses , the reduction of our reclamation obligation , the gain on revaluation of the option agreement , the amortization of the intellectual property deferred income . investing activities net cash provided by investing activities was $ 88 for the year ended december 31 , 2016 , as compared with net cash used of nil for the same period in 2017. the cash received in the 2016 period was related to the sale of small equipment and office furniture . 48 financing activities net cash provided by financing activities was $ 4,706 for the year ended december 31 , 2017 , and net cash provided by financing activities was $ 595 for the year ended december 31 , 2016. the cash received in the 2017 period was related to the transaction with synchron discussed in financial position , liquidity and capital resourcesstrategic investment , net of costs to complete . the cash received in 2016 was the result of closing the sale on october 26 , 2016 of approximately 640 acres on non-core real property located in crook county , wyoming ( section 16 real property ) . story_separator_special_tag name= `` _toc509922498 `` > critical accounting estimates exploration and development costs exploration costs are expensed as incurred . story_separator_special_tag when it is determined that a mining deposit can be economically and legally extracted or produced based on established proven and probable reserves under sec industry guide 7 , development costs related to such reserves and incurred after such determination will be considered for capitalization . the establishment of proven and probable reserves is based on results of feasibility studies . upon commencement of commercial production , capitalized costs will be amortized over their estimated useful lives or units of production , whichever is a more reliable measure . capitalized amounts relating to a property that is abandoned or otherwise considered uneconomic for the foreseeable future will be written off . 50 stock-based compensation we account for stock-based compensation under the provisions of financial accounting standards board ( fasb ) accounting standards certification ( asc ) 718 , compensation  stock compensation. under the fair value recognition provisions , stock-based compensation expense is measured at the grant date for all stock-based awards granted to employees and directors . we account for stock-based compensation arrangements with non-employees in accordance with asc 718 and asc 505-15 , equity ,  which require that such equity instruments are recorded at their fair value on the on the grant date of such awards and marked to market at each reporting period until the grant vests . the fair value of all share-based compensation awards is calculated using the black-scholes option valuation model , and the amount is recorded as an expense with a corresponding increase in additional paid-in-capital . all stock-based compensation charges are amortized over the vesting period on a straight-line basis . reclamation obligations our mining and exploration activities are subject to various laws and regulations , including legal and contractual obligations to reclaim , remediate , or otherwise restore properties at the time the property is removed from service . reclamation obligations are recognized when incurred and recorded as liabilities at fair value . the reclamation obligation is based on when spending for an existing disturbance will occur . we reclaim the disturbance from our exploration programs on an ongoing basis and , therefore , the portion of our reclamation obligation corresponding to our exploration programs will be settled in the near term and is classified as a current liability . the remaining reclamation associated with environmental monitoring programs is classified as a long-term liability ; however , because we have not declared proven and probable reserves as defined by sec industry guide 7 , the timing of these reclamation activities is uncertain as the reclamation areas will be utilized once the project is operating . for exploration stage properties that do not qualify for asset capitalization , the costs associated with the obligation are charged to operations . for development and production stage properties , the costs are added to the capitalized costs of the property and amortized using the units-of-production method . we review , on a quarterly basis , unless otherwise deemed necessary , the reclamation obligation in connection with the bear lodge property . reclamation obligations are secured by surety bonds held for the benefit of the state of wyoming in amounts determined by applicable federal and state regulatory agencies . recent accounting pronouncements revenue recognition the fasb issued accounting standards update ( asu ) asu no . 2014-09 , revenue from contracts with customers ( topic 606 ) . asu no . 2014-09 , as subsequently amended , supersedes the revenue recognition requirements in revenue recognition ( topic 605 ) , and most industry-specific guidance throughout the industry topics of the codification . additionally , asu no . 2014-09 supersedes some cost guidance included in revenue recognition-construction-type and production-type contracts ( subtopic 605-35 ) . under asu no . 2014-09 , an entity should recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services . asu no . 2014-09 also requires additional disclosure about the nature , amount , timing , and uncertainty of revenue and cash flows arising from customer contracts . this includes significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract . the new guidance is effective for interim and annual periods beginning after december 15 , 2017. as the company 's current polices are substantially compliant with asu no . 2014-09 , we do not expect a material impact to our financial statements upon adoption . stock-based compensation the fasb issued asu 2017-09 , compensation  stock compensation  scope of modification accounting ( asu 2017-09 ) , which provides guidance about the types of changes to terms or conditions of a share-based payment award that would require an entity to apply modification accounting . the new guidance is effective for fiscal years beginning after december 15 , 2017 , including interim periods within those fiscal years . early adoption is permitted . the amendments in this update should be applied prospectively to an award 51 modified on or after the adoption date . the company will adopt this standard as of the effective date and does not expect a material impact to our financial statements upon adoption . the fasb issued asu 2016-09 , compensation  stock compensation ( topic 718 ) : improvements to employee share-based payment accounting ( asu 2016-09 ) , which is intended to improve the accounting for employee share-based payments and which affects all organizations that issue share-based payment awards to their employees . several aspects of the accounting for share-based payment award transactions are simplified , including : ( a ) income tax consequences ; ( b ) classification of awards as either equity or liabilities ; and ( c ) classification on the statement of cash flows . for public companies , the amendments are effective for annual periods beginning after december 15 , 2016 , and interim periods within those annual

liquidity and capital resources at december 31 , 2017 , our total current assets were $ 4,401 , as compared with $ 1,008 at december 31 , 2016 , which is an increase of $ 3,393. the increase in total current assets is primarily due to an increase in the combination of cash and cash equivalents in the amount of $ 3,433 due to the transaction with synchron , discussed below , partially offset by funding operations and a decrease in prepaid expenses . our working capital as at december 31 , 2017 was $ 4,349 , as compared with $ 791 at december 31 , 2016. the increase in working capital is primarily due to the strategic investment , discussed below , partially offset by funding our operations and by the non-cash reclamation obligation revision , discussed above . we had previously placed the bear lodge ree project under care-and-maintenance , and all permitting activities had been suspended . additionally , corporate cost containment measures were implemented to preserve remaining cash balances as we pursued additional financings , asset sales and or strategic alternatives , including joint ventures and the potential sale of all , or a portion of , the bear lodge ree project and or the sundance gold project . as a result of the closing of the transaction with synchron on october 2 , 2017 , the company is considering an updated work plan to ( i ) further progress and enhance our proprietary technology for rare earth processing and separation through pilot plant testing , ( ii ) progress engineering work to optimize our mine plan , , and ( iii ) determine the timing for the resumption of permitting efforts . notwithstanding the transaction with synchron in october 2017 , we do not have sufficient funds to fully complete feasibility studies , permitting , development and construction of the bear lodge ree project . therefore , the achievement of these activities will be dependent upon future financings , off-take agreements , joint ventures , strategic transactions , or sales of various assets . there is no assurance , however , that we will be successful in completing such a financing or transaction .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources at december 31 , 2017 , our total current assets were $ 4,401 , as compared with $ 1,008 at december 31 , 2016 , which is an increase of $ 3,393. the increase in total current assets is primarily due to an increase in the combination of cash and cash equivalents in the amount of $ 3,433 due to the transaction with synchron , discussed below , partially offset by funding operations and a decrease in prepaid expenses . our working capital as at december 31 , 2017 was $ 4,349 , as compared with $ 791 at december 31 , 2016. the increase in working capital is primarily due to the strategic investment , discussed below , partially offset by funding our operations and by the non-cash reclamation obligation revision , discussed above . we had previously placed the bear lodge ree project under care-and-maintenance , and all permitting activities had been suspended . additionally , corporate cost containment measures were implemented to preserve remaining cash balances as we pursued additional financings , asset sales and or strategic alternatives , including joint ventures and the potential sale of all , or a portion of , the bear lodge ree project and or the sundance gold project . as a result of the closing of the transaction with synchron on october 2 , 2017 , the company is considering an updated work plan to ( i ) further progress and enhance our proprietary technology for rare earth processing and separation through pilot plant testing , ( ii ) progress engineering work to optimize our mine plan , , and ( iii ) determine the timing for the resumption of permitting efforts . notwithstanding the transaction with synchron in october 2017 , we do not have sufficient funds to fully complete feasibility studies , permitting , development and construction of the bear lodge ree project . therefore , the achievement of these activities will be dependent upon future financings , off-take agreements , joint ventures , strategic transactions , or sales of various assets . there is no assurance , however , that we will be successful in completing such a financing or transaction .
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 Suspicious Activity Report : results of operations year ended december 31 , 2017 compared to year ended december 31 , 2016 summary our consolidated net loss for the year ended december 31 , 2017 was $ 853 , or $ 0.01 per share , compared with our consolidated net loss of $ 3,426 , or $ 0.07 per share , for the same period in 2016. for the year ended december 31 , 2017 , the decrease in consolidated net loss was primarily the result of a decrease in corporate administration expenses of $ 1,423 , a decrease in impairment charges of $ 407 , a decrease in our reclamation obligation of $ 225 and the gain on the revaluation of the option liability of $ 209. exploration and evaluation exploration and evaluation costs were $ 138 for the year ended december 31 , 2017 and approximating $ 394 for the same period in 2016. during 2016 , we suspended the majority of permitting activities while continuing the work necessary to maintain our assets at the bear lodge ree project . 47 corporate administration corporate administration costs decreased to $ 1,183 for year ended december 31 , 2017 , compared with $ 2,606 for the same period in 2016 , a decrease of $ 1,423. during the year ended december 31 , 2016 , corporate administration costs included one-time expenses of $ 950 incurred in placing the bear lodge ree project on care-and-maintenance and severing all but one of our full-time employees . reclamation obligation revision during the year ended december 31 , 2017 , we reduced our reclamation obligation by $ 225 based on a revision of our previous estimate . the wyoming department of environmental quality concurred that the completed reclamation work was in compliance with its standards and the estimated amount for the remainder of the reclamation activities was $ 132. there were no such reductions during the year ended december 31 , 2016. impairment charges on october 20 , 2016 , we executed an asset purchase agreement whereby the company agreed to sell its section 16 real property to a private party , retaining a five-year repurchase option . we evaluated the carrying value of the section 16 real property based on the sale price of $ 600. as a result , we reduced the carrying value of the land by $ 380 to $ 600 in the third quarter of 2016. on october 26 , 2016 , the parties closed the asset sale , and the company received net proceeds of approximately $ 595. additionally , as the bear lodge property is on care-and-maintenance , we have recorded an impairment charge of $ 27 for the year ended december 31 , 2016 to reduce the capitalized acquisition costs to zero . there were no impairment charges in 2017. gain on revaluation of option liability gain on the revaluation of the option liability was $ 209 for the year ended december 31 , 2017. this gain is directly related to the valuation of the option agreement with synchron ( see financial position , liquidity and capital resources - strategic investment discussion below ) . as the option agreement is considered a derivative liability , we revalue the option liability at the end of each reporting period , until the option is exercised or expired . any gains or losses from the revaluation are recorded to the consolidated statements of operations . there were no similar transactions in 2016. amortization of intellectual property income during the year ended december 31 , 2017 , we amortized $ 64 of deferred intellectual property income . we incurred deferred intellectual property income due to the intellectual property rights agreement with synchron ( see financial position , liquidity and capital resources - strategic investment discussion below ) . as synchron will obtain exclusive rights to the intellectual property if it exercises the option agreement , the value of the intellectual property rights agreement is considered deferred income . we will amortize the deferred income using the straight-line method over a period of four years ( the term of the option agreement ) . there were no similar transactions in 2016. financial position , liquidity and capital resources operating activities net cash used in operating activities was $ 1,273 for the year ended december 31 , 2017 , as compared with $ 3,637 for the same period in 2016. the decrease in cash used of $ 2,364 from the prior period was primarily the result of decreased spending on corporate administration expenses , the reduction of our reclamation obligation , the gain on revaluation of the option agreement , the amortization of the intellectual property deferred income . investing activities net cash provided by investing activities was $ 88 for the year ended december 31 , 2016 , as compared with net cash used of nil for the same period in 2017. the cash received in the 2016 period was related to the sale of small equipment and office furniture . 48 financing activities net cash provided by financing activities was $ 4,706 for the year ended december 31 , 2017 , and net cash provided by financing activities was $ 595 for the year ended december 31 , 2016. the cash received in the 2017 period was related to the transaction with synchron discussed in financial position , liquidity and capital resourcesstrategic investment , net of costs to complete . the cash received in 2016 was the result of closing the sale on october 26 , 2016 of approximately 640 acres on non-core real property located in crook county , wyoming ( section 16 real property ) . story_separator_special_tag name= `` _toc509922498 `` > critical accounting estimates exploration and development costs exploration costs are expensed as incurred . story_separator_special_tag when it is determined that a mining deposit can be economically and legally extracted or produced based on established proven and probable reserves under sec industry guide 7 , development costs related to such reserves and incurred after such determination will be considered for capitalization . the establishment of proven and probable reserves is based on results of feasibility studies . upon commencement of commercial production , capitalized costs will be amortized over their estimated useful lives or units of production , whichever is a more reliable measure . capitalized amounts relating to a property that is abandoned or otherwise considered uneconomic for the foreseeable future will be written off . 50 stock-based compensation we account for stock-based compensation under the provisions of financial accounting standards board ( fasb ) accounting standards certification ( asc ) 718 , compensation  stock compensation. under the fair value recognition provisions , stock-based compensation expense is measured at the grant date for all stock-based awards granted to employees and directors . we account for stock-based compensation arrangements with non-employees in accordance with asc 718 and asc 505-15 , equity ,  which require that such equity instruments are recorded at their fair value on the on the grant date of such awards and marked to market at each reporting period until the grant vests . the fair value of all share-based compensation awards is calculated using the black-scholes option valuation model , and the amount is recorded as an expense with a corresponding increase in additional paid-in-capital . all stock-based compensation charges are amortized over the vesting period on a straight-line basis . reclamation obligations our mining and exploration activities are subject to various laws and regulations , including legal and contractual obligations to reclaim , remediate , or otherwise restore properties at the time the property is removed from service . reclamation obligations are recognized when incurred and recorded as liabilities at fair value . the reclamation obligation is based on when spending for an existing disturbance will occur . we reclaim the disturbance from our exploration programs on an ongoing basis and , therefore , the portion of our reclamation obligation corresponding to our exploration programs will be settled in the near term and is classified as a current liability . the remaining reclamation associated with environmental monitoring programs is classified as a long-term liability ; however , because we have not declared proven and probable reserves as defined by sec industry guide 7 , the timing of these reclamation activities is uncertain as the reclamation areas will be utilized once the project is operating . for exploration stage properties that do not qualify for asset capitalization , the costs associated with the obligation are charged to operations . for development and production stage properties , the costs are added to the capitalized costs of the property and amortized using the units-of-production method . we review , on a quarterly basis , unless otherwise deemed necessary , the reclamation obligation in connection with the bear lodge property . reclamation obligations are secured by surety bonds held for the benefit of the state of wyoming in amounts determined by applicable federal and state regulatory agencies . recent accounting pronouncements revenue recognition the fasb issued accounting standards update ( asu ) asu no . 2014-09 , revenue from contracts with customers ( topic 606 ) . asu no . 2014-09 , as subsequently amended , supersedes the revenue recognition requirements in revenue recognition ( topic 605 ) , and most industry-specific guidance throughout the industry topics of the codification . additionally , asu no . 2014-09 supersedes some cost guidance included in revenue recognition-construction-type and production-type contracts ( subtopic 605-35 ) . under asu no . 2014-09 , an entity should recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services . asu no . 2014-09 also requires additional disclosure about the nature , amount , timing , and uncertainty of revenue and cash flows arising from customer contracts . this includes significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract . the new guidance is effective for interim and annual periods beginning after december 15 , 2017. as the company 's current polices are substantially compliant with asu no . 2014-09 , we do not expect a material impact to our financial statements upon adoption . stock-based compensation the fasb issued asu 2017-09 , compensation  stock compensation  scope of modification accounting ( asu 2017-09 ) , which provides guidance about the types of changes to terms or conditions of a share-based payment award that would require an entity to apply modification accounting . the new guidance is effective for fiscal years beginning after december 15 , 2017 , including interim periods within those fiscal years . early adoption is permitted . the amendments in this update should be applied prospectively to an award 51 modified on or after the adoption date . the company will adopt this standard as of the effective date and does not expect a material impact to our financial statements upon adoption . the fasb issued asu 2016-09 , compensation  stock compensation ( topic 718 ) : improvements to employee share-based payment accounting ( asu 2016-09 ) , which is intended to improve the accounting for employee share-based payments and which affects all organizations that issue share-based payment awards to their employees . several aspects of the accounting for share-based payment award transactions are simplified , including : ( a ) income tax consequences ; ( b ) classification of awards as either equity or liabilities ; and ( c ) classification on the statement of cash flows . for public companies , the amendments are effective for annual periods beginning after december 15 , 2016 , and interim periods within those annual

