Quarterly report pursuant to Section 13 or 15(d)

Investment In Trading Securities (Tables)

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Investment In Trading Securities (Tables)
9 Months Ended
Sep. 30, 2015
Investment In Trading Securities Tables  
Schedule of Change in Investment in Securities

Change in investments in securities is summarized as follows: 

 

Fair Value at   Proceeds from   Loss on   Change In Unrealized   Fair Value at
January 1, 2015   Sale   Sale   Gain (Loss)   September 30, 2015
$ 6,026,780     $ (2,576,667 )   $ (971,257 )   $(1,314,931)   $ 1,163,925  
Schedule of Gross Realized Gain\Loss on Securities

During the nine months ended September 30, 2015 and 2014, sales proceeds and gross realized gains and losses on securities classified as available-for-sale securities and trading securities were:

  

    September 30, 2015   September 30, 2014
         
  Sales proceeds   $ 2,576,667     $ 8,176,418  
  Gross realized (losses)   $ (971,257 )   $ (122,122 )
  Gross realized gains     —         5,941,554  
  Gain on sale of marketable securities   $ (971,257 )   $ 5,819,432  
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, 2015   (Level 1)   (Level 2)   (Level 3)
Trading securities   $ 1,163,925     $ 1,163,925     $ —       $ —    
Money market funds     248,749       248,749       —         —    
Total   $ 1,412,674     $ 1,412,674     $ —       $ —    

 

        Fair Value Measurements at Reporting Date Using
        Quoted Prices   Significant   Significant
        in Active   Other   Unobservable
    Fair Value at   Markets   Observable Inputs   Inputs
    December 31, 2014   (Level 1)   (Level 2)   (Level 3)
Trading securities   $ 6,026,780     $ 6,026,780     $ —       $ —    
Money market funds     673,281       673,281       —         —    
Total   $ 6,700,061     $ 6,700,061     $ —       $ —