Drive Shack Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

GENERAL (Details Narrative)

GENERAL (Details Narrative) (USD $) In Thousands, except Share data, unless otherwise specified	Jun. 30, 2013	May 15, 2013	Dec. 31, 2012	Dec. 31, 2011
REIT Distribution Threshold for Nontaxation	90.00%
Cash & Cash Equivalents			$ 231,898	$ 157,347
Shares held by Fortress and affiliates in Newcastle	6,100,000
Stock Options outstanding		21,457,275
New Residential Spin-Off
Cash & Cash Equivalents		$ 181,582
Manager
Stock Options outstanding	21,760,338

- Definition

For the disposal group, including a component of the entity (discontinued operation), cash includes currency on hand as well as demand deposits with banks or financial institutions. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months.

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