Quarterly report pursuant to Section 13 or 15(d)

Organziation And Summary Of Significiant Accounting Policies (Tables)

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Organziation And Summary Of Significiant Accounting Policies (Tables)
9 Months Ended
Sep. 30, 2013
Organziation And Summary Of Significiant Accounting Policies Tables  
Estimated Economic Useful Lives Of Assets

Furniture & fixtures     5-10 years  
Equipment     5- 7 years  
Computer equipment                     3 years  
Leasehold improvements     6-15 years  
Schedule Of Gross Unrealized Gain\Loss On Securities

Investments in securities are summarized as follows:

 

    September 30, 2013
    Gross   Gross    
    Unrealized   Unrealized   Fair
    Gain   Loss   Value
Trading securities   $ 1,023,002     $ —       $ 1,858,202  
Available-for-sale securities   $ 257,399     $ —       $ 2,504,150  

 

    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 Gross Realized Gain\Loss On Securities

Realized Gains and losses are determined on the basis of specific identification. During the nine months ended September 30, 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 nine months ended
    September 30,
    2013   2012
Trading securities:                
  Sales Proceeds   $ 4,478,158     $ 285,534  
  Gross Realized Losses   $ (89,931 )   $ (79,987 )
  Gross Realized Gains   $ 3,771,006     $ —    
                 
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
    September 30, 2013   (Level 1)   (Level 2)   (Level 3)
                 
Trading securities   $ 1,858,202     $ 1,858,202     $ —       $ —    
Available-for-sale securities   $ 2,504,150     $ 2,504,150     $ —       $ —    
                                 
Total   $ 4,362,352     $ 4,362,352     $ —       $ —    

 

Generally, for all trading securities and available-for-sale securities, fair value is determined by reference to quoted