Annual report pursuant to Section 13 and 15(d)

Subsequent Events

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Subsequent Events
12 Months Ended
Dec. 31, 2013
Subsequent Events  
Subsequent Events

NOTE 12 - SUBSEQUENT EVENTS

 

The Company has performed an evaluation of subsequent events in accordance with ASC Topic 855, noting no additional subsequent events other than those noted below.

 

Subsequent to the year ended December 31, 2013, that Company liquidated 5,669,784 shares of trading securities. The selling of those securities has resulted in an approximate gain of $5,275,000 and provided cash of approximately $7,00,000 as of February 28, 2014.

 

In accordance with ASC 320-10-45-9, increases and decreases in fair value of the company’s available-for-sale securities subsequent to December 31, 2013 have been included in other comprehensive income. The net increase included in other comprehensive income for 2013 is $5,389,768.