initiatives in furtherance of this strategy include the april 2013 bluegreen merger and the currently proposed merger with bbx capital , as well as our investment with bbx capital in renin , in each case as described in further detail below . additionally , we may invest in operating businesses and real estate joint ventures for the development of residential and commercial real estate projects , including those in which our affiliates may participate . in furtherance of this goal , we expect to evaluate various financing transactions , including debt or equity financings as well as other alternative sources of new capital . bfc 's investments or acquisitions , and the business and investment strategies of bfc 's subsidiaries , may not prove to be successful or even if successful may not initially generate income , or may generate income on an irregular basis and may involve a long term investment , causing our results of operations to vary significantly on a quarterly basis . the following events had a significant financial impact on bfc during 2013 : · on april 2 , 2013 , woodbridge acquired all of the shares of bluegreen 's common stock not previously owned by woodbridge in a cash merger transaction . the aggregate merger consideration was approximately $ 149.2 million . bbx capital funded $ 60.0 million of the merger consideration through its investment in woodbridge . bbx capital also issued an $ 11.75 million promissory note in woodbridge 's favour . in exchange for its $ 71.75 million investment , bbx capital received a 46 % equity interest in woodbridge . as a result , woodbridge is currently owned 54 % by bfc and 46 % by bbx . · on october 30 , 2013 , renin holdings , llc , a newly formed joint venture entity currently beneficially owned 81 % by bbx and 19 % by bfc , through newly formed acquisition subsidiaries , a cquired substantially all of 70 the assets of renin corp. and its subsidiaries , manufacturers of interior closet doors , wall décor , hardware and fabricated glass products , for approximately $ 12.8 million in cash , net of $ 1.7 million which was distributed to renin holdings , llc during the first quarter of 2014 following finalization of the working capital adjustment and indemnification obligations of renin corp. and its subsidiaries under the terms of the purchase agreement . · on december 10 , 2013 , a wholly-owned subsidiary of bbx capital acquired all of the outstanding common shares and membership interests in hoffman 's and its subsidiaries , boca bons and good fortunes , for $ 2.5 million . hoffman 's is a manufacturer of gourmet chocolates , with four retail locations throughout south florida . gaap requires that bfc consolidate the financial results of the entities in which it has controlling interest . as a consequence , the assets and liabilities of all such entities , including bbx capital , woodbridge , and bluegreen , are presented on a consolidated basis in bfc 's financial statements . however , except as otherwise noted , the debts and obligations of the consolidated entities are not direct obligations of bfc and are non-recourse to bfc . similarly , the assets of those entities are not available to bfc absent a dividend or distribution from those entities . the recognition by bfc of income from controlled entities is determined based on the total percent of economic ownership in those entities , as described above . we currently report the results of our business activities through four segments : real estate operations ; bluegreen resorts ; bbx ; and far . discontinued operations include bankatlantic 's community banking , investments , tax certificates , and capital services components , bluegreen communities , core 's commercial leasing projects , and cypress creek holdings . see note 3 to the consolidated financial statements included in item 8 of this report for additional information regarding discontinued operations . recent events proposed bfc-bbx merger on may 7 , 2013 , bfc , bbx merger sub , llc , a wholly-owned acquisition subsidiary of bfc ( “ bbx merger sub ” ) , and bbx capital entered into a merger agreement pursuant to which , subject to the terms and conditions of the agreement , bbx capital will merge with and into bbx merger sub , with bbx merger sub continuing as the surviving company and a wholly-owned subsidiary of bfc . under the terms of the m erger a greement , which was approved by a special committee comprised of bbx capital 's independent directors as well as the full boards of directors of both bfc and bbx capital , if the merger is consummated , bbx capital 's shareholders ( other than bfc and shareholders of bbx capital who exercise and perfect their appraisal rights in accordance with florida law ) will be entitled to receive 5.39 shares of bfc 's class a common stock in exchange for each share of bbx capital 's class a common stock that they hold at the effective time of the m erger ( as such exchange ratio may be adjusted in accordance with the terms of the m erger a greement , the “ exchange ratio ” ) . if the merger is consummated , e ach option to acquire shares of bbx capital 's class a common stock that is outstanding at the effective time of the m erger , whether or not then exercisable , will be converted into an option to acquire shares of bfc 's class a common stock and be subject to the same terms and conditions as in effect at the effective time of the m erger , except that the number of shares which may be acquired upon exercise of the option will be multiplied by the exchange ratio and the exercise price of the option will be divided by the exchange ratio . story_separator_special_tag in preparing the financial statements , management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the consolidated statements of financial condition and assumptions that affect the recognition of income and expenses on the consolidated statements of operations for the periods presented . on an ongoing basis , management evaluates its estimates , including those that relate to the determination of the allowance for loan losses , the estimated future sales value of inventory , the recognition of revenue , including revenue recognition under the percentage-of-completion method of accounting , the recovery of the carrying value of real estate inventories , the fair value of assets measured at , or compared to , fair value on a non-recurring basis such as assets held for sale , intangible assets and other long-lived assets , the valuation of securities , as well as the determination of other-than-temporary declines in value , the valuation of real estate acquired in connection with foreclosure or in satisfaction of loans , the determination of the fair value of assets and liabilities in the application of the acquisition method of accounting , the estimate of contingent liabilities related to litigation and other claims and assessments , and assumptions used in the valuation of stock based compensation . the accounting policies that we have identified as critical accounting policies are : ( i ) revenue recognition and inventory cost allocation ; ( ii ) the carrying value of completed voi inventory ; ( iii ) the carrying value of vois held for and under 75 development ; ( iv ) allowance for credit and loan losses , including with respect to notes receivable secured by vois ; ( v ) the impairment of long-lived assets , including intangible assets ; and ( vi ) the valuation of bluegreen 's notes receivable which for accounting purposes were treated as having been acquired by bfc during 2009 in connection with our purchase of additional shares of bluegreen 's common stock at that time . management bases its estimates on historical experience and on various other assumptions that it believes to be reasonable under the circumstances , the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources . actual results may differ materially from these estimates under different assumptions and conditions . if actual results significantly differ from management 's estimates , our results of operations and financial condition could be materially and adversely impacted . revenue recognition and inventory cost allocation sales of real estate in accordance with the requirements of financial accounting standards board ( “ fasb ” ) accounting standards codification ( “ asc ” ) 970-605 , real estate-revenue recognition , bluegreen recognizes revenue on voi sales when a minimum of 10 % of the sales price has been received in cash ( buyer 's commitment ) , the legal rescission period has expired , collectability of the receivable representing the remainder of the sales price is reasonably assured and bluegreen has completed substantially all of its obligations with respect to any development related to the real estate sold . bluegreen believes that it uses a reasonably reliable methodology to estimate the collectability of the receivables representing the remainder of the sales price of real estate sold . see the further discussion of bluegreen 's policies regarding the estimation of credit losses on bluegreen 's notes receivable below . should bluegreen become unable to reasonably estimate the collectability of its receivables , bluegreen may have to defer the recognition of sales and bluegreen 's results of operations could be negatively impacted . under timeshare accounting rules , the buyer 's minimum cash down payment towards the purchase of bluegreen 's vois is met only if the cash down payment received , reduced by the value of certain incentives provided to the buyer at the time of sale , is at least 10 % of the sales price . if , after consideration of the value of the incentive , the total down payment received from the buyer is less than 10 % of the sales price , the voi sale , and the related cost of sales and direct selling expenses , are deferred until such time that sufficient cash is received from the customer , generally through receipt of mortgage payments . changes to the quantity , type or value of sales incentives that bluegreen provides to buyers of its vois may increase the number of voi sales being deferred or extend the period during which a sale is deferred , which could materially adversely impact bluegreen 's results of operations . in cases where development has not been substantially completed , bluegreen recognizes revenue in accordance with the percentage-of-completion method of accounting . should bluegreen 's estimates of the total anticipated cost of completing projects increase , bluegreen may be required to defer a greater amount of revenue or may be required to defer revenue for a longer period of time than expected , which could materially adversely impact bluegreen 's results of operations . timeshare accounting rules require the use of an industry-specific relative sales value method for relieving voi inventory and recording cost of sales . under the relative sales value method , cost of sales is calculated as a percentage of net sales using a cost-of-sales percentage — the ratio of total estimated development cost to total estimated voi revenue , including the estimated incremental revenue from the resale of repossessed voi inventory , generally as a result of the default of the related receivable . as a result of bluegreen 's sale of substantially all of the assets that comprised bluegreen communities in may 2012 , the revenues of bluegreen communities , including homesite sales , are included within the results of discontinued operations for all

liquidity and capital resources bbx capital 's principal sources of liquidity are its cash holdings , funds obtained from scheduled payments on loans and sales of its loans , loan payoffs , sales of real estate held-for-sale , income from income producing real estate and distributions received from woodbridge . the company anticipates funding operating expenses , capital expenditures for the renin and hoffman 's businesses , if required , as well as any additional acquisitions of operating businesses , investments in joint ventures and real estate properties through the company 's principal sources of liquidity . while far is consolidated in the company 's financial statements , the cash held in far and generated from its assets will be used primarily to pay far 's operating expenses and to pay bb & t 's 95 % preferred membership interest and the related priority return and will generally not be available for distribution to bbx capital beyond its 5 % preferred return until such time as bb & t 's preferred membership interest is fully repaid . the balance of bb & t 's preferred membership interest in far was approximately $ 68.5 million at december 31 , 2013. bbx capital held cash of $ 33.0 million at december 31 , 2013. this does not include $ 8.4 million , $ 1.0 million and $ 0.7 million of cash held in far , renin and hoffman 's , respectively . the company had $ 6.2 million of current liabilities as of december 31 , 2013. as of december 31 , 2013 renin could borrow up to $ 2.3 million of additional funds under its credit facility with bluegreen ; however , the bluegreen borrowings are subject to available collateral . the company expects that it will receive dividends from time to time from its 46 % ownership interest in woodbridge .


 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 bbx capital 's principal sources of liquidity are its cash holdings , funds obtained from scheduled payments on loans and sales of its loans , loan payoffs , sales of real estate held-for-sale , income from income producing real estate and distributions received from woodbridge . the company anticipates funding operating expenses , capital expenditures for the renin and hoffman 's businesses , if required , as well as any additional acquisitions of operating businesses , investments in joint ventures and real estate properties through the company 's principal sources of liquidity . while far is consolidated in the company 's financial statements , the cash held in far and generated from its assets will be used primarily to pay far 's operating expenses and to pay bb & t 's 95 % preferred membership interest and the related priority return and will generally not be available for distribution to bbx capital beyond its 5 % preferred return until such time as bb & t 's preferred membership interest is fully repaid . the balance of bb & t 's preferred membership interest in far was approximately $ 68.5 million at december 31 , 2013. bbx capital held cash of $ 33.0 million at december 31 , 2013. this does not include $ 8.4 million , $ 1.0 million and $ 0.7 million of cash held in far , renin and hoffman 's , respectively . the company had $ 6.2 million of current liabilities as of december 31 , 2013. as of december 31 , 2013 renin could borrow up to $ 2.3 million of additional funds under its credit facility with bluegreen ; however , the bluegreen borrowings are subject to available collateral . the company expects that it will receive dividends from time to time from its 46 % ownership interest in woodbridge .
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 Suspicious Activity Report : initiatives in furtherance of this strategy include the april 2013 bluegreen merger and the currently proposed merger with bbx capital , as well as our investment with bbx capital in renin , in each case as described in further detail below . additionally , we may invest in operating businesses and real estate joint ventures for the development of residential and commercial real estate projects , including those in which our affiliates may participate . in furtherance of this goal , we expect to evaluate various financing transactions , including debt or equity financings as well as other alternative sources of new capital . bfc 's investments or acquisitions , and the business and investment strategies of bfc 's subsidiaries , may not prove to be successful or even if successful may not initially generate income , or may generate income on an irregular basis and may involve a long term investment , causing our results of operations to vary significantly on a quarterly basis . the following events had a significant financial impact on bfc during 2013 : · on april 2 , 2013 , woodbridge acquired all of the shares of bluegreen 's common stock not previously owned by woodbridge in a cash merger transaction . the aggregate merger consideration was approximately $ 149.2 million . bbx capital funded $ 60.0 million of the merger consideration through its investment in woodbridge . bbx capital also issued an $ 11.75 million promissory note in woodbridge 's favour . in exchange for its $ 71.75 million investment , bbx capital received a 46 % equity interest in woodbridge . as a result , woodbridge is currently owned 54 % by bfc and 46 % by bbx . · on october 30 , 2013 , renin holdings , llc , a newly formed joint venture entity currently beneficially owned 81 % by bbx and 19 % by bfc , through newly formed acquisition subsidiaries , a cquired substantially all of 70 the assets of renin corp. and its subsidiaries , manufacturers of interior closet doors , wall décor , hardware and fabricated glass products , for approximately $ 12.8 million in cash , net of $ 1.7 million which was distributed to renin holdings , llc during the first quarter of 2014 following finalization of the working capital adjustment and indemnification obligations of renin corp. and its subsidiaries under the terms of the purchase agreement . · on december 10 , 2013 , a wholly-owned subsidiary of bbx capital acquired all of the outstanding common shares and membership interests in hoffman 's and its subsidiaries , boca bons and good fortunes , for $ 2.5 million . hoffman 's is a manufacturer of gourmet chocolates , with four retail locations throughout south florida . gaap requires that bfc consolidate the financial results of the entities in which it has controlling interest . as a consequence , the assets and liabilities of all such entities , including bbx capital , woodbridge , and bluegreen , are presented on a consolidated basis in bfc 's financial statements . however , except as otherwise noted , the debts and obligations of the consolidated entities are not direct obligations of bfc and are non-recourse to bfc . similarly , the assets of those entities are not available to bfc absent a dividend or distribution from those entities . the recognition by bfc of income from controlled entities is determined based on the total percent of economic ownership in those entities , as described above . we currently report the results of our business activities through four segments : real estate operations ; bluegreen resorts ; bbx ; and far . discontinued operations include bankatlantic 's community banking , investments , tax certificates , and capital services components , bluegreen communities , core 's commercial leasing projects , and cypress creek holdings . see note 3 to the consolidated financial statements included in item 8 of this report for additional information regarding discontinued operations . recent events proposed bfc-bbx merger on may 7 , 2013 , bfc , bbx merger sub , llc , a wholly-owned acquisition subsidiary of bfc ( “ bbx merger sub ” ) , and bbx capital entered into a merger agreement pursuant to which , subject to the terms and conditions of the agreement , bbx capital will merge with and into bbx merger sub , with bbx merger sub continuing as the surviving company and a wholly-owned subsidiary of bfc . under the terms of the m erger a greement , which was approved by a special committee comprised of bbx capital 's independent directors as well as the full boards of directors of both bfc and bbx capital , if the merger is consummated , bbx capital 's shareholders ( other than bfc and shareholders of bbx capital who exercise and perfect their appraisal rights in accordance with florida law ) will be entitled to receive 5.39 shares of bfc 's class a common stock in exchange for each share of bbx capital 's class a common stock that they hold at the effective time of the m erger ( as such exchange ratio may be adjusted in accordance with the terms of the m erger a greement , the “ exchange ratio ” ) . if the merger is consummated , e ach option to acquire shares of bbx capital 's class a common stock that is outstanding at the effective time of the m erger , whether or not then exercisable , will be converted into an option to acquire shares of bfc 's class a common stock and be subject to the same terms and conditions as in effect at the effective time of the m erger , except that the number of shares which may be acquired upon exercise of the option will be multiplied by the exchange ratio and the exercise price of the option will be divided by the exchange ratio . story_separator_special_tag in preparing the financial statements , management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the consolidated statements of financial condition and assumptions that affect the recognition of income and expenses on the consolidated statements of operations for the periods presented . on an ongoing basis , management evaluates its estimates , including those that relate to the determination of the allowance for loan losses , the estimated future sales value of inventory , the recognition of revenue , including revenue recognition under the percentage-of-completion method of accounting , the recovery of the carrying value of real estate inventories , the fair value of assets measured at , or compared to , fair value on a non-recurring basis such as assets held for sale , intangible assets and other long-lived assets , the valuation of securities , as well as the determination of other-than-temporary declines in value , the valuation of real estate acquired in connection with foreclosure or in satisfaction of loans , the determination of the fair value of assets and liabilities in the application of the acquisition method of accounting , the estimate of contingent liabilities related to litigation and other claims and assessments , and assumptions used in the valuation of stock based compensation . the accounting policies that we have identified as critical accounting policies are : ( i ) revenue recognition and inventory cost allocation ; ( ii ) the carrying value of completed voi inventory ; ( iii ) the carrying value of vois held for and under 75 development ; ( iv ) allowance for credit and loan losses , including with respect to notes receivable secured by vois ; ( v ) the impairment of long-lived assets , including intangible assets ; and ( vi ) the valuation of bluegreen 's notes receivable which for accounting purposes were treated as having been acquired by bfc during 2009 in connection with our purchase of additional shares of bluegreen 's common stock at that time . management bases its estimates on historical experience and on various other assumptions that it believes to be reasonable under the circumstances , the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources . actual results may differ materially from these estimates under different assumptions and conditions . if actual results significantly differ from management 's estimates , our results of operations and financial condition could be materially and adversely impacted . revenue recognition and inventory cost allocation sales of real estate in accordance with the requirements of financial accounting standards board ( “ fasb ” ) accounting standards codification ( “ asc ” ) 970-605 , real estate-revenue recognition , bluegreen recognizes revenue on voi sales when a minimum of 10 % of the sales price has been received in cash ( buyer 's commitment ) , the legal rescission period has expired , collectability of the receivable representing the remainder of the sales price is reasonably assured and bluegreen has completed substantially all of its obligations with respect to any development related to the real estate sold . bluegreen believes that it uses a reasonably reliable methodology to estimate the collectability of the receivables representing the remainder of the sales price of real estate sold . see the further discussion of bluegreen 's policies regarding the estimation of credit losses on bluegreen 's notes receivable below . should bluegreen become unable to reasonably estimate the collectability of its receivables , bluegreen may have to defer the recognition of sales and bluegreen 's results of operations could be negatively impacted . under timeshare accounting rules , the buyer 's minimum cash down payment towards the purchase of bluegreen 's vois is met only if the cash down payment received , reduced by the value of certain incentives provided to the buyer at the time of sale , is at least 10 % of the sales price . if , after consideration of the value of the incentive , the total down payment received from the buyer is less than 10 % of the sales price , the voi sale , and the related cost of sales and direct selling expenses , are deferred until such time that sufficient cash is received from the customer , generally through receipt of mortgage payments . changes to the quantity , type or value of sales incentives that bluegreen provides to buyers of its vois may increase the number of voi sales being deferred or extend the period during which a sale is deferred , which could materially adversely impact bluegreen 's results of operations . in cases where development has not been substantially completed , bluegreen recognizes revenue in accordance with the percentage-of-completion method of accounting . should bluegreen 's estimates of the total anticipated cost of completing projects increase , bluegreen may be required to defer a greater amount of revenue or may be required to defer revenue for a longer period of time than expected , which could materially adversely impact bluegreen 's results of operations . timeshare accounting rules require the use of an industry-specific relative sales value method for relieving voi inventory and recording cost of sales . under the relative sales value method , cost of sales is calculated as a percentage of net sales using a cost-of-sales percentage — the ratio of total estimated development cost to total estimated voi revenue , including the estimated incremental revenue from the resale of repossessed voi inventory , generally as a result of the default of the related receivable . as a result of bluegreen 's sale of substantially all of the assets that comprised bluegreen communities in may 2012 , the revenues of bluegreen communities , including homesite sales , are included within the results of discontinued operations for all

