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, 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:

 

    September 30, 2014
    Gross   Gross   Net    
    Unrealized   Unrealized   Unrealized   Fair
    Gain   (Loss)   Gain (Loss)   Value
Trading securities   $ 524,525     $ (1,866,874 )   $ (1,342,349 )   $ 1,858,873  
Available-for-sale securities   $ 1,925,801     $ (397,600 )   $ 1,528,201     $ 5,600,836  

 

    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 nine months ended September 30, 2014 and 2013, sales proceeds and gross realized gains and losses on securities classified as available-for-sale securities and trading securities were:

 

    September 30, 2014   September 30, 2013
Trading securities:                
  Sales Proceeds   $ 8,176,418     $ 4,487,430  
  Gross Realized (Losses)     (74,732 )     (246,915 )
  Gross Realized Gains     5,894,164       1,211,032  
  Gain (loss) on sale of marketable securities   $ 5,819,432     $ 964,117  

 

      September 30, 2014       September 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   Significant   Significant
        in Active   Other   Unobservable
    Fair Value at   Markets   Observable Inputs   Inputs
    September 30, 2014   (Level 1)   (Level 2)   (Level 3)
Trading securities   $ 1,858,873     $ 1,858,873     $ —       $ —    
Available-for-sale securities     5,600,836       5,600,836       —         —    
Total   $ 7,459,709     $ 7,459,709     $ —       $ —