Annual report pursuant to Section 13 and 15(d)

Organziation And Summary Of Significiant Accounting Policies (Tables)

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Organziation And Summary Of Significiant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2013
Organziation And Summary Of Significiant Accounting Policies Tables  
Estimated Economic Useful Lives Of Assets

Office furniture, equipment and leasehold improvements are stated at cost. 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     6-15 years  
Schedule Of Gross Unrealized Gain\Loss On Securities

Investments in securities are summarized as follows:

    December 31, 2013
    Gross   Gross   Net    
    Unrealized   Unrealized   Unrealized   Fair
    Gain   Loss   Gain (Loss)   Value
Trading securities   $ 4,966,872     $ 6,692,643     $ (1,725,771 )   $ 1,717,438  
Available-for-sale securities   $ 9,382,973     $ 998,874     $ 8,384,099     $ 9,089,608  

 

    December 31, 2012
    Gross   Gross   Net    
    Unrealized   Unrealized   Unrealized   Fair
    Gain   Loss   Gain (Loss)   Value
Trading securities   $ 269,193     $ 171,216     $ 97,977     $ 200,556  
Available-for-sale securities   $ 4,573,420     $ 8,209,420     $ (3,636,000 )   $ 1,925,160  
                                 

 

Schedule Of Gross Realized Gain\Loss On Securities

Realized Gains and losses are determined on the basis of specific identification. During the years ended December 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 years ended December 31,
    2013   2012
Trading securities:        
  Sales Proceeds   $ 5,365,534     $ 286,934  
  Gross Realized Losses   $ 3,522,139     $ 101,642  
  Gross Realized Gains   $ 4,639,844     $ 21,186  
   Gain (loss) on sale of marketable securities   $ 1,117,705     $ (80,456 )

 

 

 

      For years ended December 31,  
Available-for-sale securities:     2013       2012  
  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
    December 31, 2013   (Level 1)   (Level 2)   (Level 3)
                 
Trading securities   $ 1,717,438     $ 1,717,438     $ —       $ —    
Available-for-sale securities   $ 9,089,608     $ 9,089,608     $ —       $ —    
Total   $ 10,807,046     $ 10,807,046     $ —       $