Annual report pursuant to Section 13 and 15(d)

Trading Securities (Tables)

v3.3.1.900
Trading Securities (Tables)
12 Months Ended
Dec. 31, 2015
Trading Securities Tables  
Schedule of Change in Investment in Securities

Investments in securities are summarized as follows:

 

                Change In    
    Fair Value at   Proceeds from   Gain (Loss) on   Unrealized   Fair Value at
Year   Beginning of Year   Sale   Sale   Gain (Loss)   End of Year
  2015     $ 6,026,780     $ (3,060,675 )   $ (1,460,576 )   $ (1,181,085 )   $ 324,444  
  2014     $ 6,609,561     $ (8,579,373 )   $ 5,989,218     $ 2,007,374     $ 6,026,780  
Schedule of Gross Realized Gain\Loss on Securities

During the years ended December 31, 2015 and 2014, sales proceeds and gross realized gains and losses on securities classified as available-for-sale securities and trading securities were:

 

    December 31, 2015   December 31, 2014
         
  Sales proceeds   $ 3,060,675     $ 8,579,373  
  Gross realized (losses)   $ (1,460,576 )   $ (74,732 )
  Gross realized gains     —         6,063,950  
  Gain on sale of marketable securities   $ (1,460,576 )   $ 5,989,218  
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          
      December 31, 2015       (Level 1)       Inputs
(Level 2)
      Inputs
(Level 3)
 
Trading securities   $ 324,444     $ 324,444     $ —       $ —    
Money market funds     332,706       332,706       —         —    
Total   $ 657,150     $ 657,150     $ —       $ —    

 

        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     $ —       $ —