Quarterly report pursuant to Section 13 or 15(d)

Trading Securities (Tables)

v3.4.0.3
Trading Securities (Tables)
3 Months Ended
Mar. 31, 2016
Trading Securities Tables  
Schedule of Change in Investment in Securities

Investments in securities are summarized as follows:

 

    Fair Value at            
Year   Beginning of Year   Purchases  

Proceeds from

Sale

 

Gain on

Sale

 

Unrealized

Gain

 

Fair Value at

End of Year

  2016     $ 324,444     $ 510,000     $ (189,467 )   $ 49,262     $ 100,202     $ 794,441  
Schedule of Gross Realized Gain\Loss on Securities

Realized gains and losses are determined on the basis of specific identification. During the three months ended March 31, 2016 and 2015, sales proceeds and gross realized gains and losses on securities classified as available-for-sale securities and trading securities were:

 

    March 31,
2016
  March 31,
2015
         
  Sales proceeds   $ 189,467     $ 747,489  
  Gross realized (losses)   $ —       $ (298,122 )
  Gross realized gains     49,262       —    
  Gain on sale of marketable securities   $ 49,262     $ (298,122 )
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  
      March 31, 2016       (Level 1)       (Level 2)       (Level 3)  
Trading securities   $ 794,441     $ 794,441     $ —       $ —    
Money market funds     192,080       192,080       —         —    
Total   $ 986,521     $ 986,521     $ —       $ —    

  

        Fair Value Measurements at Reporting Date Using
              Quoted Prices       Significant       Significant  
              in Active       Other       Unobservable  
      Fair Value at       Markets       Observable Inputs       Inputs  
      December 31,
2015
      (Level 1)       (Level 2)       (Level 3)  
Trading securities   $ 324,444     $ 324,444     $ —       $ —    
Money market funds     332,706       332,706       —         —    
Total   $ 657,150     $ 657,150     $ —       $ —