Quarterly report pursuant to Section 13 or 15(d)

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

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ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
3 Months Ended
Mar. 31, 2013
Organization And Summary Of Significant Accounting Policies Tables  
Estimated Econonmic Useful Lives Of Assets

Depreciation and amortization are computed using the straight-line method over the estimated economic useful lives of the related assets as follows:

 

Furniture & fixtures     5-10 years  
Equipment     5- 7 years  
Computer equipment                     3 years  
Leasehold improvements     8-15 years  
Schedule Of Unrealized Gain\Loss On Securities

Investments in securities are summarized as follows:

    March 31, 2013
    Gross   Gross    
    Unrealized   Unrealized   Fair
    Gain   Loss   Value
Trading securities   $ 303,361     $ —       $ 546,718  
Available-for-sale securities   $ 213,190     $ —       $ 324,240  

 

    December 31, 2012
    Gross   Gross    
    Unrealized   Unrealized   Fair
    Gain   Loss   Value
Trading securities   $ 97,977     $ —       $ 200,556  
Available-for-sale securities   $ 93,820     $ —       $ 292,320  
                         
Schedule of Realized Gain\Loss On Securities

During the three months ended March 31, 2013 and 2012, sales proceeds and gross realized gains and losses on securities classified as available-for-sale securities and trading securities were:

 

    For the three months ended
    March 31,
    2013   2012
Trading securities:                
  Sales Proceeds   $ 201,414     $ 177,040  
  Gross Realized Losses   $ (1,323 )   $ (78,593 )
  Gross Realized Gains   $ 132,818     $ 8,767  
                 
Available-for-sale securities:                
  Sale Proceeds   $ —       $ —    
  Gross Realized Losses   $ —       $ —    
  Gross Realized Gains   $ —       $ —    
Schedule Of Fair Value Of Assets Measured On Recurring Basis

The following table discloses the assets measured at fair value on a recurring basis and the methods used to determine fair value:

 

        Fair Value Measurements at Reporting Date Using
        Quoted Prices   Significant   Significant
        in Active   Other   Unobservable
    Fair Value at   Markets   Observable Inputs   Inputs
    March 31, 2013   (Level 1)   (Level 2)   (Level 3)
                 
Trading securities   $ 546,718     $ 546,718     $ —       $ —    
Available-for-sale securities   $ 324,240     $ 324,240     $ —       $ —    
                                 
Total   $ 870,958     $ 870,958     $ —       $ —