interest on these debt securities is generally payable either quarterly or semiannually . some promissory notes held by the fund provide that a portfolio company may elect to pay interest in cash or provide that discount interest may accrete in the form of original issue discount or payment-in-kind ( pik ) over the life of the notes by adding unpaid interest amounts to the principal balance . amortization of principal on our debt investments is generally deferred for several years from the date of initial investment . the principal amount of these debt securities and any accrued but unpaid interest generally will become due at maturity . we also earn interest income at market rates on investments in short-term marketable securities . from time to time , we generate income from time to time in the form of commitment , origination , structuring , and extension fees in connection with our investments . we recognize all such fees when earned . expenses . currently , our primary operating expenses include director fees and expenses , professional fees , compensation expense , general and administrative fees , and professional fees incurred in connection with our plan of reorganization . during 2017 , we incurred non-recurring expenses of $ 2.5 million , and also received a one-time merger termination fee of $ 2.5 million , related to transaction costs described under significant developments – agreement to acquire portfolio company of mvc above . during 2016 , we did not incur any non-recurring expenses . non-operating subsidiary . we have established equus total return ( canada ) inc. as a wholly-owned subsidiary to facilitate payments to canadian personnel and contractors who provide services to the fund . we consider equus total return ( canada ) inc. a disregarded entity for accounting purposes , inasmuch as it does not have active operations . operating activities . we use cash to make new investments and follow-on investments in our existing portfolio companies . we record these investments at cost on the applicable trade date . realized gains or losses are computed using the specific identification method . on an ongoing basis , we carry our investments in our financial statements at fair value , as determined by our board of directors . see “ critical accounting policies – valuation of investments ” below . as of december 31 , 2017 , we had invested 83.2 % of our assets in securities of portfolio companies that constituted qualifying investments under the 1940 act . at that time , we had invested 51.0 % by value in shares of common stock , 19.1 % in membership interests in limited liability companies , and 2.3 % in various debt instruments . commitments . under certain circumstances , we make follow-on investments in some of our portfolio companies . as of december 31 , 2017 , we had no outstanding commitments to our portfolio company investments . financing activities . from time to time , we use leverage to finance a portion of our investments . we then repay such debt from the sale of portfolio securities . under the 1940 act , we have the ability to borrow funds and issue debt securities or preferred stock that are referred to as senior securities , subject to certain restrictions including an overall limitation on the amount of outstanding debt , or leverage , relative to equity of 2:1. because of the nature and size of our portfolio investments , we periodically borrow funds to make qualifying investments in order to maintain our qualification as a ric . during 2017 and 2016 , we borrowed such funds by accessing a margin account with a securities brokerage firm . we invest the proceeds of these margin loans in high-quality securities such as u.s. treasury securities until they are repaid . we refer to these high-quality investments as “ restricted assets ” because they are not generally available for investment in portfolio companies under the terms of borrowing . if , in the future , we can not borrow funds to make such qualifying investments at the end of any future quarter , we may not qualify as a ric and would become subject to corporate-level income tax on our net investment income and realized capital gains , if any . in addition , our distributions to stockholders would be taxable as ordinary dividends to the extent paid from earnings and profits . see “ federal income tax considerations . ” distributions . so long as we remain a bdc , we will continue to pay out net investment income and or realized capital gains , if any , on an annual basis as required under the 1940 act . 24 possible share repurchase . as a closed-end bdc , our shares of common stock are not redeemable at the option of stockholders , and our shares currently trade at a discount to their net asset value . our board has determined that it would be in the best interests of our stockholders to reduce or eliminate this market value discount . accordingly , we have been authorized to , and may from time to time , repurchase shares of our outstanding common stock ( including by means of tender offers or privately negotiated transactions ) in an effort to reduce or eliminate this market discount or to increase the net asset value of our shares . we are not required to undertake , and we have not previously undertaken , any such share repurchases , nor do we further anticipate taking any such action in 2018 . 2016 equity incentive plan on june 13 , 2016 , our shareholders approved the adoption of our 2016 equity incentive plan ( “ incentive plan ” ) . on january 10 , 2017 , the sec issued an order approving the incentive plan and certain awards intended to be made thereunder . story_separator_special_tag if we effect a consolidation of the fund as described under “ significant developments – plan of reorganization and share exchange with mvc capital ” and “ – authorization to withdraw bdc election ” above , we may utilize some or a substantial portion of our current liquidity in connection with a contemplated transaction as payment of the purchase price and to pay associated legal , due diligence , accounting , and other fees . further , we may borrow funds from financial institutions or other providers of debt capital to provide and pay for a part of the consideration and expenses necessary to effect a consolidation . year ended december 31 , 2017 as of december 31 , 2017 , we had total assets of $ 61.2 million , of which $ 31.1 million were invested in portfolio investments and $ 10.8 million were invested in cash and cash equivalents . among our portfolio investments , $ 1.0 million ( at fair value ) or 2.3 % of net asset value were in the form of promissory notes to a portfolio company as of december 31 , 2017. as of december 31 , 2017 , we also had $ 18.2 million of temporary cash investments and restricted cash , including primarily the proceeds of a quarter-end margin loan that we incurred to maintain the diversification requirements applicable to a ric . of this amount , $ 18.0 million was invested in u.s. treasury bills and $ 0.2 million represented a required 1 % brokerage margin deposit . these securities were held by a securities brokerage firm and pledged along with other assets to secure repayment of the margin loan . the u.s. treasury bills matured on january 4 , 2018 and we subsequently repaid this margin loan . the margin interest was paid on february 5 , 2018. operating activities . we provided $ 10.8 million in cash from operating activities in 2017. in 2017 , we made no new investments in portfolio companies . we paid fees to our professional advisers , directors , banks and others of $ 4.6 million , inclusive of expenses related to compensation in connection with the fund 's 2016 equity incentive plan , and received a fee of $ 2.5 million in connection with the termination of this agreement , while realizing a loss of $ 5 thousand from the disposition of temporary cash investments . financing activities . we used $ 12.0 million in cash from financing activities for 2017. we did not declare any dividends in 2016. year ended december 31 , 2016 as of december 31 , 2016 , we had total assets of $ 73.1 million , of which $ 29.7 million were invested in portfolio investments and $ 12.0 million were invested in cash and cash equivalents . among our portfolio investments , $ 3.0 million ( at fair value ) or 7.0 % of net asset value were in the form of notes receivable from portfolio companies as of december 31 , 2016 . 28 as of december 31 , 2016 , we also had $ 30.3 million of temporary cash investments and restricted cash , including primarily the proceeds of a quarter-end margin loan that we incurred to maintain the diversification requirements applicable to a ric . of this amount , $ 30.0 million was invested in u.s. treasury bills and $ 0.3 million represented a required 1 % brokerage margin deposit . these securities were held by a securities brokerage firm and pledged along with other assets to secure repayment of the margin loan . the u.s. treasury bills were sold on january 3 , 2017 and we subsequently repaid this margin loan . the margin interest was paid on february 3 , 2017. operating activities . we used $ 20.1 million in cash for operating activities in 2016. in 2016 , we made new investments of $ 2.0 million in portfolio companies . we paid fees to our professional advisers , directors , banks and others of $ 3.2 million , while realizing a loss of $ 13 thousand from the disposition of temporary cash investments . financing activities . we provided $ 15.0 million in cash from financing activities for 2016. we did not declare any dividends in 2016. year ended december 31 , 2015 as of december 31 , 2015 , we had total assets of $ 52.5 million , of which $ 19.4 million were invested in portfolio investments and $ 17.0 million were invested in cash and cash equivalents . among our portfolio investments , $ 0.9 million ( at fair value ) or 2.5 % of net asset value were in the form of notes receivable from portfolio companies as of december 31 , 2015. as of december 31 , 2015 , we also had $ 15.1 million of temporary cash investments and restricted cash , including primarily the proceeds of a quarter-end margin loan that we incurred to maintain the diversification requirements applicable to a ric . of this amount , $ 15.0 million was invested in u.s. treasury bills and $ 0.1 million represented a required 1 % brokerage margin deposit . these securities were held by a securities brokerage firm and pledged along with other assets to secure repayment of the margin loan . the u.s. treasury bills were sold on january 4 , 2016 and we subsequently repaid this margin loan . the margin interest was paid on february 3 , 2016. operating activities . we provided $ 1.3 million in cash for operating activities in 2015. in 2015 , we made no new investments in portfolio companies . we paid fees to our professional advisers , directors , banks and others of $ 2.8 million , while realizing a loss of $ 2.5 million from the disposition of portfolio securities . financing activities . we provided $ 1.0 thousand in cash from financing activities for 2015. we did not declare any dividends in

cash non-cash follow-on pik total 5 th element tracking , llc $ — $ — $ — $ 12 $ 12 mvc capital , inc. — — — 265 265 $ — $ — $ — $ 277 $ 277 year ended december 31 , 2016 during the year ended december 31 , 2016 , we had investment activity of $ 2.4 million in three portfolio companies . we invested $ 2.0 million in a senior secured note issued by biogenic , bearing cash and pik interest at the combined rate of 16 % per annum . during 2016 , we received $ 0.04 million in semi-annual interest and $ 13 thousand in pik 'd interest in respect of this note . during 2016 , we received 22,863 shares of mvc in the form of stock dividend payments . we received $ 50 thousand in pik 'd interest in respect to our loan to 5 th element . the following table summarizes significant investment activity during the year ended december 31 , 2016 ( in thousands ) : replace_table_token_3_th 30 year ended december 31 , 2015 during the year ended december 31 , 2015 , we received a one-year subordinated note from 5 th element in the original principal amount of $ 0.9 million , bearing interest at the rate of 14 % per annum in connection with the sale of our interest in spectrum . we also received 23,694 shares of mvc in the form of dividend payments . the following table includes significant investment activity during the year ended december 31 , 2015 ( in thousands ) : replace_table_token_4_th realized gains and losses on sales of portfolio securities year ended december 31 , 2017 during 2017 , we realized capital losses of $ 5 thousand as a result of disposition of temporary cash investments . year ended december 31 , 2016 during 2016 , we realized capital losses of $ 13 thousand as a result of disposition of temporary cash investments .


 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.
     ```cash non-cash follow-on pik total 5 th element tracking , llc $ — $ — $ — $ 12 $ 12 mvc capital , inc. — — — 265 265 $ — $ — $ — $ 277 $ 277 year ended december 31 , 2016 during the year ended december 31 , 2016 , we had investment activity of $ 2.4 million in three portfolio companies . we invested $ 2.0 million in a senior secured note issued by biogenic , bearing cash and pik interest at the combined rate of 16 % per annum . during 2016 , we received $ 0.04 million in semi-annual interest and $ 13 thousand in pik 'd interest in respect of this note . during 2016 , we received 22,863 shares of mvc in the form of stock dividend payments . we received $ 50 thousand in pik 'd interest in respect to our loan to 5 th element . the following table summarizes significant investment activity during the year ended december 31 , 2016 ( in thousands ) : replace_table_token_3_th 30 year ended december 31 , 2015 during the year ended december 31 , 2015 , we received a one-year subordinated note from 5 th element in the original principal amount of $ 0.9 million , bearing interest at the rate of 14 % per annum in connection with the sale of our interest in spectrum . we also received 23,694 shares of mvc in the form of dividend payments . the following table includes significant investment activity during the year ended december 31 , 2015 ( in thousands ) : replace_table_token_4_th realized gains and losses on sales of portfolio securities year ended december 31 , 2017 during 2017 , we realized capital losses of $ 5 thousand as a result of disposition of temporary cash investments . year ended december 31 , 2016 during 2016 , we realized capital losses of $ 13 thousand as a result of disposition of temporary cash investments .
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 Suspicious Activity Report : interest on these debt securities is generally payable either quarterly or semiannually . some promissory notes held by the fund provide that a portfolio company may elect to pay interest in cash or provide that discount interest may accrete in the form of original issue discount or payment-in-kind ( pik ) over the life of the notes by adding unpaid interest amounts to the principal balance . amortization of principal on our debt investments is generally deferred for several years from the date of initial investment . the principal amount of these debt securities and any accrued but unpaid interest generally will become due at maturity . we also earn interest income at market rates on investments in short-term marketable securities . from time to time , we generate income from time to time in the form of commitment , origination , structuring , and extension fees in connection with our investments . we recognize all such fees when earned . expenses . currently , our primary operating expenses include director fees and expenses , professional fees , compensation expense , general and administrative fees , and professional fees incurred in connection with our plan of reorganization . during 2017 , we incurred non-recurring expenses of $ 2.5 million , and also received a one-time merger termination fee of $ 2.5 million , related to transaction costs described under significant developments – agreement to acquire portfolio company of mvc above . during 2016 , we did not incur any non-recurring expenses . non-operating subsidiary . we have established equus total return ( canada ) inc. as a wholly-owned subsidiary to facilitate payments to canadian personnel and contractors who provide services to the fund . we consider equus total return ( canada ) inc. a disregarded entity for accounting purposes , inasmuch as it does not have active operations . operating activities . we use cash to make new investments and follow-on investments in our existing portfolio companies . we record these investments at cost on the applicable trade date . realized gains or losses are computed using the specific identification method . on an ongoing basis , we carry our investments in our financial statements at fair value , as determined by our board of directors . see “ critical accounting policies – valuation of investments ” below . as of december 31 , 2017 , we had invested 83.2 % of our assets in securities of portfolio companies that constituted qualifying investments under the 1940 act . at that time , we had invested 51.0 % by value in shares of common stock , 19.1 % in membership interests in limited liability companies , and 2.3 % in various debt instruments . commitments . under certain circumstances , we make follow-on investments in some of our portfolio companies . as of december 31 , 2017 , we had no outstanding commitments to our portfolio company investments . financing activities . from time to time , we use leverage to finance a portion of our investments . we then repay such debt from the sale of portfolio securities . under the 1940 act , we have the ability to borrow funds and issue debt securities or preferred stock that are referred to as senior securities , subject to certain restrictions including an overall limitation on the amount of outstanding debt , or leverage , relative to equity of 2:1. because of the nature and size of our portfolio investments , we periodically borrow funds to make qualifying investments in order to maintain our qualification as a ric . during 2017 and 2016 , we borrowed such funds by accessing a margin account with a securities brokerage firm . we invest the proceeds of these margin loans in high-quality securities such as u.s. treasury securities until they are repaid . we refer to these high-quality investments as “ restricted assets ” because they are not generally available for investment in portfolio companies under the terms of borrowing . if , in the future , we can not borrow funds to make such qualifying investments at the end of any future quarter , we may not qualify as a ric and would become subject to corporate-level income tax on our net investment income and realized capital gains , if any . in addition , our distributions to stockholders would be taxable as ordinary dividends to the extent paid from earnings and profits . see “ federal income tax considerations . ” distributions . so long as we remain a bdc , we will continue to pay out net investment income and or realized capital gains , if any , on an annual basis as required under the 1940 act . 24 possible share repurchase . as a closed-end bdc , our shares of common stock are not redeemable at the option of stockholders , and our shares currently trade at a discount to their net asset value . our board has determined that it would be in the best interests of our stockholders to reduce or eliminate this market value discount . accordingly , we have been authorized to , and may from time to time , repurchase shares of our outstanding common stock ( including by means of tender offers or privately negotiated transactions ) in an effort to reduce or eliminate this market discount or to increase the net asset value of our shares . we are not required to undertake , and we have not previously undertaken , any such share repurchases , nor do we further anticipate taking any such action in 2018 . 2016 equity incentive plan on june 13 , 2016 , our shareholders approved the adoption of our 2016 equity incentive plan ( “ incentive plan ” ) . on january 10 , 2017 , the sec issued an order approving the incentive plan and certain awards intended to be made thereunder . story_separator_special_tag if we effect a consolidation of the fund as described under “ significant developments – plan of reorganization and share exchange with mvc capital ” and “ – authorization to withdraw bdc election ” above , we may utilize some or a substantial portion of our current liquidity in connection with a contemplated transaction as payment of the purchase price and to pay associated legal , due diligence , accounting , and other fees . further , we may borrow funds from financial institutions or other providers of debt capital to provide and pay for a part of the consideration and expenses necessary to effect a consolidation . year ended december 31 , 2017 as of december 31 , 2017 , we had total assets of $ 61.2 million , of which $ 31.1 million were invested in portfolio investments and $ 10.8 million were invested in cash and cash equivalents . among our portfolio investments , $ 1.0 million ( at fair value ) or 2.3 % of net asset value were in the form of promissory notes to a portfolio company as of december 31 , 2017. as of december 31 , 2017 , we also had $ 18.2 million of temporary cash investments and restricted cash , including primarily the proceeds of a quarter-end margin loan that we incurred to maintain the diversification requirements applicable to a ric . of this amount , $ 18.0 million was invested in u.s. treasury bills and $ 0.2 million represented a required 1 % brokerage margin deposit . these securities were held by a securities brokerage firm and pledged along with other assets to secure repayment of the margin loan . the u.s. treasury bills matured on january 4 , 2018 and we subsequently repaid this margin loan . the margin interest was paid on february 5 , 2018. operating activities . we provided $ 10.8 million in cash from operating activities in 2017. in 2017 , we made no new investments in portfolio companies . we paid fees to our professional advisers , directors , banks and others of $ 4.6 million , inclusive of expenses related to compensation in connection with the fund 's 2016 equity incentive plan , and received a fee of $ 2.5 million in connection with the termination of this agreement , while realizing a loss of $ 5 thousand from the disposition of temporary cash investments . financing activities . we used $ 12.0 million in cash from financing activities for 2017. we did not declare any dividends in 2016. year ended december 31 , 2016 as of december 31 , 2016 , we had total assets of $ 73.1 million , of which $ 29.7 million were invested in portfolio investments and $ 12.0 million were invested in cash and cash equivalents . among our portfolio investments , $ 3.0 million ( at fair value ) or 7.0 % of net asset value were in the form of notes receivable from portfolio companies as of december 31 , 2016 . 28 as of december 31 , 2016 , we also had $ 30.3 million of temporary cash investments and restricted cash , including primarily the proceeds of a quarter-end margin loan that we incurred to maintain the diversification requirements applicable to a ric . of this amount , $ 30.0 million was invested in u.s. treasury bills and $ 0.3 million represented a required 1 % brokerage margin deposit . these securities were held by a securities brokerage firm and pledged along with other assets to secure repayment of the margin loan . the u.s. treasury bills were sold on january 3 , 2017 and we subsequently repaid this margin loan . the margin interest was paid on february 3 , 2017. operating activities . we used $ 20.1 million in cash for operating activities in 2016. in 2016 , we made new investments of $ 2.0 million in portfolio companies . we paid fees to our professional advisers , directors , banks and others of $ 3.2 million , while realizing a loss of $ 13 thousand from the disposition of temporary cash investments . financing activities . we provided $ 15.0 million in cash from financing activities for 2016. we did not declare any dividends in 2016. year ended december 31 , 2015 as of december 31 , 2015 , we had total assets of $ 52.5 million , of which $ 19.4 million were invested in portfolio investments and $ 17.0 million were invested in cash and cash equivalents . among our portfolio investments , $ 0.9 million ( at fair value ) or 2.5 % of net asset value were in the form of notes receivable from portfolio companies as of december 31 , 2015. as of december 31 , 2015 , we also had $ 15.1 million of temporary cash investments and restricted cash , including primarily the proceeds of a quarter-end margin loan that we incurred to maintain the diversification requirements applicable to a ric . of this amount , $ 15.0 million was invested in u.s. treasury bills and $ 0.1 million represented a required 1 % brokerage margin deposit . these securities were held by a securities brokerage firm and pledged along with other assets to secure repayment of the margin loan . the u.s. treasury bills were sold on january 4 , 2016 and we subsequently repaid this margin loan . the margin interest was paid on february 3 , 2016. operating activities . we provided $ 1.3 million in cash for operating activities in 2015. in 2015 , we made no new investments in portfolio companies . we paid fees to our professional advisers , directors , banks and others of $ 2.8 million , while realizing a loss of $ 2.5 million from the disposition of portfolio securities . financing activities . we provided $ 1.0 thousand in cash from financing activities for 2015. we did not declare any dividends in

