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)
6 Months Ended
Jun. 30, 2014
Organziation And Summary Of Significiant Accounting Policies Tables  
Estimated Economic 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     6-15 years  
Schedule of Gross Unrealized Gain\Loss on Securities

Investments in securities are summarized as follows:

 

    June 30, 2014
    Gross   Gross   Net    
    Unrealized   Unrealized   Unrealized   Fair
    Gain   Loss   Gain (Loss)   Value
Trading securities   $ 1,684,865     $ 1,435,383     $ 249,482     $ 1,553,213  
Available-for-sale securities   $ 2,465,539     $ 7,622,665     $ 5,157,126     $ 7,994,720  

 

    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   $ 10,665,813     $ 7,144,642     $ 3,521,171     $ 2,900,090  
                                 
Schedule of Gross Realized Gain\Loss on Securities

During the quarter ended June 30, 2014 and 2013, sales proceeds and gross realized gains and losses on securities classified as available-for-sale securities and trading securities were:

 

    June 30, 2014   June 30, 2013
Trading securities:                
  Sales Proceeds   $ 8,176,418     $ 2,283,343  
  Gross Realized Losses   $ (122,122 )   $ (1,341,398 )
  Gross Realized Gains   $ 5,941,554     $ 1,837,696  
   Gain (loss) on sale of marketable securities   $ 5,819,432     $ 496,298  

 

 

 

    June 30, 2014       June 30, 2013  
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 in Active Significant Other Observable   Significant Unobservable
    Fair Value at   Markets   Inputs   Inputs
    June 30, 2014   (Level 1)   (Level 2)   (Level 3)
Trading securities   $ 1,553,213     $ 1,553,213     $ —       $ —    
Available-for-sale securities   $ 7,994,720     $ 7,994,720     $ —       $ —    
Total   $ 9,547,933     $ 9,547,933     $ —       $ —