as shown in the consolidated balance sheet as at december 31 , 2017 the properties were valued at $ 355,000 based on an independent valuation . due to the ongoing remediation efforts and no active market to sell the properties , the company believes the value of the property to be nominal and as such recorded an impairment loss of $ 355,000. as of december 31 , 2018 the properties are shown in the consolidated balance sheet at $ 0 after recording an impairment loss of $ 355,000. management discussion of critical accounting policies the following discussion and analysis of the financial condition and results of operations are based on the consolidated financial statements and notes to consolidated financial statements contained in this report that have been prepared in accordance with the rules and regulations of the sec and include all the disclosures normally required in annual consolidated financial statements prepared in accordance with accounting principles generally accepted in the united states of america . the preparation of these financial statements requires us to make estimates that affect the reported amounts of assets , liabilities , sales and expenses , and related disclosures of contingent assets and liabilities . we base these estimates on historical results and various other assumptions believed to be reasonable , all of which form the basis for making estimates concerning the carrying values of assets and liabilities that are not readily available from other sources . actual results may differ from these estimates . certain of our accounting policies require higher degrees of judgment than others in their application . these include stock-based compensation and accounting for income taxes which are summarized below . 8 employees ' stock-based compensation . stock-based compensation cost is measured at the grant date based on the fair value of the award and is recognized as an expense on a straight-line basis over the requisite service period , which is generally the vesting period . see note 9 to the consolidated financial statements for further information regarding our stock-based compensation assumptions and expense . income taxes income taxes are provided for based on the asset and liability method of accounting . deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases . deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled . under accounting principles generally accepted in the united states of america , 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 . a valuation allowance is provided when it is more likely than not that some portion of deferred tax assets will not be realized . the valuation allowance decreased by approximately $ 64,000 and $ 3,486,000 respectively , during the years ended december 31 , 2018 and 2017. the decrease in the valuation allowance during the year ended december 31 , 2018 was mainly due to the sale of winthrop net of increases to the net operating loss carryforward and other deferred tax assets . the decrease in the valuation allowance during the year ended december 31 , 2017 was mainly due to a change in the corporate income tax rate . results of operations year ended december 31 , 2018 compared to the year ended december 31 , 2017 for the year ended december 31 , 2018 , the company had a loss from continuing operations before income taxes of $ 2,487,000 compared to a loss from operations before income taxes of $ 1,765,000 for the year ended december 31 , 2017. the increased loss of $ 722,000 was primarily the result of increased compensation and benefits of $ 333,000 , an impairment loss for the entire value of the dam properties in the amount of $ 355,000 as a result of ongoing remediation efforts and no active market to sell such properties , and increased other operating expenses of $ 92,000 , partially offset by increased by other interest income of $ 67,000. compensation and benefits for the year ended december 31 , 2018 , compensation and benefits were $ 801,000 as compared to $ 468,000 for the year ended december 31 , 2017. the increased compensation and benefits of $ 333,000 in 2018 was primarily the result of increased compensation earned by the company 's chairman and chief executive officer . other operating expenses for the year ended december 31 , 2018 , other operating expenses were $ 1,398,000 as compared to $ 1,306,000 for the year ended december 31 , 2017. the increased operating expenses of $ 92,000 were primarily the result of increased professional fees and reserves for future repairs ( see note 11 to the consolidated financial statements ) related to the company 's interests in land and flowage rights in undeveloped property in killingly , connecticut , and increased rent expense due to the full absorption of rent by the company . the increased expenses were partially offset by decreased audit and sox consulting fees principally as a result of the sale . impairment of undeveloped land for the year ended december 31 , 2018 , the company recorded an impairment loss in the amount of $ 355,000 due to the company 's belief that the value of the land is nominal as a result of ongoing remediation efforts and no active market for sale of such land . 9 income taxes for the year ended december 31 , 2018 , the income tax expense related to continuing operations of $ 40,000 substantially represents state minimum income taxes . for the year ended december 31 , 2017 , the income tax benefit related to continuing operations of $ 96,000 represents a deferred income tax benefit of $ 148,000 , due to a story_separator_special_tag as shown in the consolidated balance sheet as at december 31 , 2017 the properties were valued at $ 355,000 based on an independent valuation . due to the ongoing remediation efforts and no active market to sell the properties , the company believes the value of the property to be nominal and as such recorded an impairment loss of $ 355,000. as of december 31 , 2018 the properties are shown in the consolidated balance sheet at $ 0 after recording an impairment loss of $ 355,000. management discussion of critical accounting policies the following discussion and analysis of the financial condition and results of operations are based on the consolidated financial statements and notes to consolidated financial statements contained in this report that have been prepared in accordance with the rules and regulations of the sec and include all the disclosures normally required in annual consolidated financial statements prepared in accordance with accounting principles generally accepted in the united states of america . the preparation of these financial statements requires us to make estimates that affect the reported amounts of assets , liabilities , sales and expenses , and related disclosures of contingent assets and liabilities . we base these estimates on historical results and various other assumptions believed to be reasonable , all of which form the basis for making estimates concerning the carrying values of assets and liabilities that are not readily available from other sources . actual results may differ from these estimates . certain of our accounting policies require higher degrees of judgment than others in their application . these include stock-based compensation and accounting for income taxes which are summarized below . 8 employees ' stock-based compensation . stock-based compensation cost is measured at the grant date based on the fair value of the award and is recognized as an expense on a straight-line basis over the requisite service period , which is generally the vesting period . see note 9 to the consolidated financial statements for further information regarding our stock-based compensation assumptions and expense . income taxes income taxes are provided for based on the asset and liability method of accounting . deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases . deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled . under accounting principles generally accepted in the united states of america , 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 . a valuation allowance is provided when it is more likely than not that some portion of deferred tax assets will not be realized . the valuation allowance decreased by approximately $ 64,000 and $ 3,486,000 respectively , during the years ended december 31 , 2018 and 2017. the decrease in the valuation allowance during the year ended december 31 , 2018 was mainly due to the sale of winthrop net of increases to the net operating loss carryforward and other deferred tax assets . the decrease in the valuation allowance during the year ended december 31 , 2017 was mainly due to a change in the corporate income tax rate . results of operations year ended december 31 , 2018 compared to the year ended december 31 , 2017 for the year ended december 31 , 2018 , the company had a loss from continuing operations before income taxes of $ 2,487,000 compared to a loss from operations before income taxes of $ 1,765,000 for the year ended december 31 , 2017. the increased loss of $ 722,000 was primarily the result of increased compensation and benefits of $ 333,000 , an impairment loss for the entire value of the dam properties in the amount of $ 355,000 as a result of ongoing remediation efforts and no active market to sell such properties , and increased other operating expenses of $ 92,000 , partially offset by increased by other interest income of $ 67,000. compensation and benefits for the year ended december 31 , 2018 , compensation and benefits were $ 801,000 as compared to $ 468,000 for the year ended december 31 , 2017. the increased compensation and benefits of $ 333,000 in 2018 was primarily the result of increased compensation earned by the company 's chairman and chief executive officer . other operating expenses for the year ended december 31 , 2018 , other operating expenses were $ 1,398,000 as compared to $ 1,306,000 for the year ended december 31 , 2017. the increased operating expenses of $ 92,000 were primarily the result of increased professional fees and reserves for future repairs ( see note 11 to the consolidated financial statements ) related to the company 's interests in land and flowage rights in undeveloped property in killingly , connecticut , and increased rent expense due to the full absorption of rent by the company . the increased expenses were partially offset by decreased audit and sox consulting fees principally as a result of the sale . impairment of undeveloped land for the year ended december 31 , 2018 , the company recorded an impairment loss in the amount of $ 355,000 due to the company 's belief that the value of the land is nominal as a result of ongoing remediation efforts and no active market for sale of such land . 9 income taxes for the year ended december 31 , 2018 , the income tax expense related to continuing operations of $ 40,000 substantially represents state minimum income taxes . for the year ended december 31 , 2017 , the income tax benefit related to continuing operations of $ 96,000 represents a deferred income tax benefit of $ 148,000 , due to a

liquidity and capital resources at december 31 , 2018 , the company had cash and cash equivalents totaling $ 6,163,000 , which it intends to use to acquire interests in one or more operating businesses , to fund the company 's general and administrative expenses , and the directors will also consider alternatives for distributing some or all of its cash and cash equivalents to stockholders . the company believes that its working capital is sufficient to support its operating requirements through march 31 , 2020. the company received $ 6,000,000 from winthrop in cash as well as $ 173,000 for repayment of the intercompany balance between the company and winthrop on july 17 , 2018 as a result of the sale ( see note 2 to the consolidated financial statements ) . the increase in cash and cash equivalents of $ 562,000 for the year ended december 31 , 2018 was the result of $ 1,921,000 used in operating activities , offset by net cash provided by investing activities of $ 2,483,000 including $ 5,448,000 from the sale of winthrop and its operating activity through the date of


 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 , 2018 , the company had cash and cash equivalents totaling $ 6,163,000 , which it intends to use to acquire interests in one or more operating businesses , to fund the company 's general and administrative expenses , and the directors will also consider alternatives for distributing some or all of its cash and cash equivalents to stockholders . the company believes that its working capital is sufficient to support its operating requirements through march 31 , 2020. the company received $ 6,000,000 from winthrop in cash as well as $ 173,000 for repayment of the intercompany balance between the company and winthrop on july 17 , 2018 as a result of the sale ( see note 2 to the consolidated financial statements ) . the increase in cash and cash equivalents of $ 562,000 for the year ended december 31 , 2018 was the result of $ 1,921,000 used in operating activities , offset by net cash provided by investing activities of $ 2,483,000 including $ 5,448,000 from the sale of winthrop and its operating activity through the date of
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 Suspicious Activity Report : as shown in the consolidated balance sheet as at december 31 , 2017 the properties were valued at $ 355,000 based on an independent valuation . due to the ongoing remediation efforts and no active market to sell the properties , the company believes the value of the property to be nominal and as such recorded an impairment loss of $ 355,000. as of december 31 , 2018 the properties are shown in the consolidated balance sheet at $ 0 after recording an impairment loss of $ 355,000. management discussion of critical accounting policies the following discussion and analysis of the financial condition and results of operations are based on the consolidated financial statements and notes to consolidated financial statements contained in this report that have been prepared in accordance with the rules and regulations of the sec and include all the disclosures normally required in annual consolidated financial statements prepared in accordance with accounting principles generally accepted in the united states of america . the preparation of these financial statements requires us to make estimates that affect the reported amounts of assets , liabilities , sales and expenses , and related disclosures of contingent assets and liabilities . we base these estimates on historical results and various other assumptions believed to be reasonable , all of which form the basis for making estimates concerning the carrying values of assets and liabilities that are not readily available from other sources . actual results may differ from these estimates . certain of our accounting policies require higher degrees of judgment than others in their application . these include stock-based compensation and accounting for income taxes which are summarized below . 8 employees ' stock-based compensation . stock-based compensation cost is measured at the grant date based on the fair value of the award and is recognized as an expense on a straight-line basis over the requisite service period , which is generally the vesting period . see note 9 to the consolidated financial statements for further information regarding our stock-based compensation assumptions and expense . income taxes income taxes are provided for based on the asset and liability method of accounting . deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases . deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled . under accounting principles generally accepted in the united states of america , 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 . a valuation allowance is provided when it is more likely than not that some portion of deferred tax assets will not be realized . the valuation allowance decreased by approximately $ 64,000 and $ 3,486,000 respectively , during the years ended december 31 , 2018 and 2017. the decrease in the valuation allowance during the year ended december 31 , 2018 was mainly due to the sale of winthrop net of increases to the net operating loss carryforward and other deferred tax assets . the decrease in the valuation allowance during the year ended december 31 , 2017 was mainly due to a change in the corporate income tax rate . results of operations year ended december 31 , 2018 compared to the year ended december 31 , 2017 for the year ended december 31 , 2018 , the company had a loss from continuing operations before income taxes of $ 2,487,000 compared to a loss from operations before income taxes of $ 1,765,000 for the year ended december 31 , 2017. the increased loss of $ 722,000 was primarily the result of increased compensation and benefits of $ 333,000 , an impairment loss for the entire value of the dam properties in the amount of $ 355,000 as a result of ongoing remediation efforts and no active market to sell such properties , and increased other operating expenses of $ 92,000 , partially offset by increased by other interest income of $ 67,000. compensation and benefits for the year ended december 31 , 2018 , compensation and benefits were $ 801,000 as compared to $ 468,000 for the year ended december 31 , 2017. the increased compensation and benefits of $ 333,000 in 2018 was primarily the result of increased compensation earned by the company 's chairman and chief executive officer . other operating expenses for the year ended december 31 , 2018 , other operating expenses were $ 1,398,000 as compared to $ 1,306,000 for the year ended december 31 , 2017. the increased operating expenses of $ 92,000 were primarily the result of increased professional fees and reserves for future repairs ( see note 11 to the consolidated financial statements ) related to the company 's interests in land and flowage rights in undeveloped property in killingly , connecticut , and increased rent expense due to the full absorption of rent by the company . the increased expenses were partially offset by decreased audit and sox consulting fees principally as a result of the sale . impairment of undeveloped land for the year ended december 31 , 2018 , the company recorded an impairment loss in the amount of $ 355,000 due to the company 's belief that the value of the land is nominal as a result of ongoing remediation efforts and no active market for sale of such land . 9 income taxes for the year ended december 31 , 2018 , the income tax expense related to continuing operations of $ 40,000 substantially represents state minimum income taxes . for the year ended december 31 , 2017 , the income tax benefit related to continuing operations of $ 96,000 represents a deferred income tax benefit of $ 148,000 , due to a story_separator_special_tag as shown in the consolidated balance sheet as at december 31 , 2017 the properties were valued at $ 355,000 based on an independent valuation . due to the ongoing remediation efforts and no active market to sell the properties , the company believes the value of the property to be nominal and as such recorded an impairment loss of $ 355,000. as of december 31 , 2018 the properties are shown in the consolidated balance sheet at $ 0 after recording an impairment loss of $ 355,000. management discussion of critical accounting policies the following discussion and analysis of the financial condition and results of operations are based on the consolidated financial statements and notes to consolidated financial statements contained in this report that have been prepared in accordance with the rules and regulations of the sec and include all the disclosures normally required in annual consolidated financial statements prepared in accordance with accounting principles generally accepted in the united states of america . the preparation of these financial statements requires us to make estimates that affect the reported amounts of assets , liabilities , sales and expenses , and related disclosures of contingent assets and liabilities . we base these estimates on historical results and various other assumptions believed to be reasonable , all of which form the basis for making estimates concerning the carrying values of assets and liabilities that are not readily available from other sources . actual results may differ from these estimates . certain of our accounting policies require higher degrees of judgment than others in their application . these include stock-based compensation and accounting for income taxes which are summarized below . 8 employees ' stock-based compensation . stock-based compensation cost is measured at the grant date based on the fair value of the award and is recognized as an expense on a straight-line basis over the requisite service period , which is generally the vesting period . see note 9 to the consolidated financial statements for further information regarding our stock-based compensation assumptions and expense . income taxes income taxes are provided for based on the asset and liability method of accounting . deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases . deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled . under accounting principles generally accepted in the united states of america , 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 . a valuation allowance is provided when it is more likely than not that some portion of deferred tax assets will not be realized . the valuation allowance decreased by approximately $ 64,000 and $ 3,486,000 respectively , during the years ended december 31 , 2018 and 2017. the decrease in the valuation allowance during the year ended december 31 , 2018 was mainly due to the sale of winthrop net of increases to the net operating loss carryforward and other deferred tax assets . the decrease in the valuation allowance during the year ended december 31 , 2017 was mainly due to a change in the corporate income tax rate . results of operations year ended december 31 , 2018 compared to the year ended december 31 , 2017 for the year ended december 31 , 2018 , the company had a loss from continuing operations before income taxes of $ 2,487,000 compared to a loss from operations before income taxes of $ 1,765,000 for the year ended december 31 , 2017. the increased loss of $ 722,000 was primarily the result of increased compensation and benefits of $ 333,000 , an impairment loss for the entire value of the dam properties in the amount of $ 355,000 as a result of ongoing remediation efforts and no active market to sell such properties , and increased other operating expenses of $ 92,000 , partially offset by increased by other interest income of $ 67,000. compensation and benefits for the year ended december 31 , 2018 , compensation and benefits were $ 801,000 as compared to $ 468,000 for the year ended december 31 , 2017. the increased compensation and benefits of $ 333,000 in 2018 was primarily the result of increased compensation earned by the company 's chairman and chief executive officer . other operating expenses for the year ended december 31 , 2018 , other operating expenses were $ 1,398,000 as compared to $ 1,306,000 for the year ended december 31 , 2017. the increased operating expenses of $ 92,000 were primarily the result of increased professional fees and reserves for future repairs ( see note 11 to the consolidated financial statements ) related to the company 's interests in land and flowage rights in undeveloped property in killingly , connecticut , and increased rent expense due to the full absorption of rent by the company . the increased expenses were partially offset by decreased audit and sox consulting fees principally as a result of the sale . impairment of undeveloped land for the year ended december 31 , 2018 , the company recorded an impairment loss in the amount of $ 355,000 due to the company 's belief that the value of the land is nominal as a result of ongoing remediation efforts and no active market for sale of such land . 9 income taxes for the year ended december 31 , 2018 , the income tax expense related to continuing operations of $ 40,000 substantially represents state minimum income taxes . for the year ended december 31 , 2017 , the income tax benefit related to continuing operations of $ 96,000 represents a deferred income tax benefit of $ 148,000 , due to a

