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ICON ECI Fund Sixteen10K
03/23/2016NO TITLE
UNITED STATES* "SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 FORM 10K
1)[x] ANNUAL REPORT PURSUANT TO SECTION 13/'OR 15(d) OF THE SECURITIES EXCHANGE ACTOF 1934!For the fiscal year endedDecember 31, 2015
or4,[ ] TRANSITION REPORT PURSUANT TO SECTION2*13 OR 15(d) OF THE SECURITIES EXCHANGE ACTOF 1934 &For the transition period from
toCommission file number:
333185144ICON ECI Fund Sixteen.&(Exact name of registrant as specifiedin its charter)Delaware
800860084Dzlu\.wdL
{KW !"#$%&'()*+,./0123456789:;<=>?5 (State or other jurisdiction of incorporation , $(I.R.S. Employer Identification No.)!or organization)!!!""3 Park Avenue, 36 th Floor""#New York, New York#~
#0$((Address of principal executive offices)$$
(Zip Code)0%(Registrant s telephone number, including%(212) 4184700& area code''(1))Securities registered pursuant to Section*12(b) of the Act: None+1,)Securities registered pursuant to Section12(g) of the Act: None./00(Indicate by check mark if the registrant31+is a wellknown seasoned issuer, as defined*2"in Rule 405 of the Securities Act.3Yes No04(Indicate by check mark if the registrant05(is not required to file reports pursuant26*to Section 13 or Section 15(d) of the Act.7Yes No859Indicate by check mark whether the registrant90:((1) has filed all reports required to be6;.filed by Section 13 or 15(d) of the Securities1<)Exchange Act of 1934 during the preceding2=*12 months (or for such shorter period that0>(the registrant was required to file such2?*reports), and (2) has been subject to suchDIlK
1`>2&{GzF@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_1@)filing requirements for the past 90 days.AYes NoA5BIndicate by check mark whether the registrantB/C'has submitted electronically and posted0D(on its corporate Web site, if any, every6E.Interactive Data File required to be submitted5Fand posted pursuant to Rule 405 of Regulation1G)ST ( 232.405 of this chapter) during the0H(preceding 12 months (or for such shorter/I'period that the registrant was required'Jto submit and post such files).KYes NoKLL/M'Indicate by check mark if disclosure of.N&delinquent filers pursuant to Item 4054O,of Regulation SK ( 229.405 of this chapter)0P(is not contained herein, and will not be.Q&contained, to the best of registrant's5Rknowledge, in definitive proxy or information,S$statements incorporated by reference6T.in Part III of this Form 10K or any amendmentUto this Form 10K.VW5XIndicate by check mark whether the registrantX4Y,is a large accelerated filer, an accelerated3Z+filer, a nonaccelerated filer or a smaller.[&reporting company. See the definitions/\'of large accelerated filer, accelerated.]&filer and smaller reporting company in'^Rule 12b2 of the Exchange Act.___
Delh5Y%^,U%p8j`abcdefghijklmnopqrstuvwxyz0`( Large accelerated filer`Accelerated filer9a1 Nonaccelerated filer (Do not check if!aSmaller reporting companya
$ba smaller reporting company)cc5dIndicate by check mark whether the registrantd4e,is a shell company (as defined in Rule 12b2fof the Exchange Act).gYes Nog/h'State the aggregate market value of theh0i(voting and nonvoting common equity held/j'by nonaffiliates computed by reference3k+to the price at which the common equity was5llast sold, or the average bid and asked price6m.of such common equity, as of the last business7n/day of the registrant s most recently completed.o&second fiscal quarter: Not applicable.4p,There is no established market for the Class/q'A and Class I shares of the registrant./r'Number of outstanding Class A and Classr4s,I shares of the registrant on March 18, 2016(t is 17,189 and 410, respectively.uuuuuuuuuu u
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ICON ECI Fund Sixteen10K
03/23/2016Summary CompensationPage PART I
Item 1. Business~
Item 1A. Risk Factors~
*"Item 1B. Unresolved Staff Comments~
Item 2. Properties~
!Item 3. Legal Proceedings~
'Item 4. Mine Safety Disclosures~
PART II3+Item 5. Market for Registrant's Securities,~
2*Related Security Holder Matters and IssuerPurchases of% Equity Securities'Item 6. Selected Financial Data~
"/'Item 7. Managing Owner s Discussion and~
&3+Analysis of Financial Condition and Results
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&.'&Item 12. Security Ownership of Certain~
'0((Beneficial Owners and the Managing Owner)and Related6*. Security Holder Matters*2+*Item 13. Certain Relationships and Related~
+/,'Transactions, and Director Independence.&Item 14. Principal Accounting Fees and~
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01 Schedules2
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03/23/2016OverviewAs of March 18, 2016 Class A Class I
Number of shareholders
~
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ICON ECI Fund Sixteen10K
03/23/201611 Table of ContentsPortfolio Company StructureEquity Invested
Interest Rate! Expiration/ Maturity Date
Collateral/ Priority
Net Carrying ValueCredit Loss ReserveCurrent Status % Murray Energy Corporation (1)
Lease ~
M N/A
9/30/2015 (5)
% Ownership of mining equipment
$12,099 (6) None Expired
!
Blackhawk Mining, LLC (1)
Lease
~
6m
N/A
2/28/2018
%
Ownership of mining equipment
$1,002,667 (2)
None
PerformingD&T Holdings, LLC (1)
Lease~
ZN/A
12/31/2018
3+Ownership of trucks, trailers and equipment
$839,767 (2)None
PerformingGeokinetics, Inc.
Lease~
W[N/A 8/31/2017
.&Ownership of seismic testing equipment
$3,423,892 (3)None
Performing
%
Premier Trailer Leasing, Inc.
Loan
~
N
+
#LIBOR, subject to 1% floor, plus 9%
9/24/2020
0
(Second priority in all assets and equity
$2,618,465 (4)
None
Performing
interests'Challenge Mfg. Company, LLC (1)
Lease~
<N/A 7/9/2020
0(Ownership of auxiliary support equipment
$939,343 (2)None
Performing
and robots'Challenge Mfg. Company, LLC (1)
Lease~
ΰN/A 1/9/2021
1)Ownership of stamping presses and support
$2,989,981 (2)None
Performing
equipmentFugro N.V. (1)
Lease~
N/A
12/24/2027
3+Ownership of a geotechnical drilling vessel
$2,381,092 (2)None
Performing
4,(1) Our investment in this portfolio company2*is through a joint venture and is included80in our consolidated balance sheets as investmentin joint ventures.0((2) Net carrying value of our investment3+in joint ventures is calculated as follows:.&investment at cost plus/less our share0(of the cumulative net income/loss of the5joint venture and less distributions received1)since the date of our initial investment.6.(3) This investment is through a joint ventureD3lui9+DY !"#$%&'()*+,./0123456789:;<= 1 )that we consolidated and presented on our!5!consolidated balance sheets as net investment"3"+in finance lease. Net investment in finance#1#)lease is the sum of the remaining minimum$0$(lease payments receivable, the estimated%7%/residual value of the asset and the unamortized&3&+initial direct costs, less unearned income.'7'/Net carrying value represents our proportionate(0((share of the investment and includes the)6).recognition of an investment by noncontrolling*2**interests for the share of such investment+2+*held by the joint venture s noncontrolling,,interest holders.0((4) Net carrying value of our investment.6..in note receivable is the sum of the remaining/1/)principal outstanding and the unamortized010)initial direct costs, less deferred fees.101((5) Please refer to the disclosure under22%the subheading Mining Equipment above33%for additional information related to4&4the expired lease with Murray.5.5&(6) Represents our proportionate share616)of the remaining cash balance held by the77joint venture.8888888888 8
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03/23/2016Financing Transactions*"Percentage of Total Finance Income Customer
Asset Type ~
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Geokinetics, Inc.
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ICON ECI Fund Sixteen10K
03/23/201624 Table of Contents Class A Class I
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03/23/2016
SIGNATURES"By: /s/ Michael A. Reisner Michael A. Reisner3
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03/23/2016
SIGNATURESBy: /s/ Mark Gatto
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03/23/2016
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Balance Sheet22 Table of Contents23 Table of Contents24 Table of Contents25 Table of Contents32 Table of contents33 Table of contents33 Table of con (1)34 Table of contents34 Table of con (1)34 Table of con (2)35 Table of contents36 Table of contents37 Table of contents38 Table of contents38 Table of con (1)Our Managing OwnerOur Investment ManagerSummary Compens (1)!Item 14 Principal Accounting Fe
SIGNATURESSIGNATURES (1)SIGNATURES (2)SIGNATURES (3)U }U5
ICON ECI Fund Sixteen10K
03/23/2016
SIGNATURES By: /s/ Christine H. Yap Christine H. Yap
Managing Director4,(Principal Financial and Accounting Officer)
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