Quarterly report pursuant to Section 13 or 15(d)

Trading Securities (Tables)

v3.5.0.2
Trading Securities (Tables)
6 Months Ended
Jun. 30, 2016
Trading Securities Tables  
Schedule of Change in Investment in Securities

Investments in securities are summarized as follows:

 

    Fair Value at       Proceeds from   Gain on   Unrealized   Fair Value at
Year   Beginning of Year   Purchases   Sale   Sale   Loss   June 30, 2016
  2016     $ 324,444     $ 510,000     $ (280,195 )   $ 74,410     $ (84,393 )   $ 544,266  
Schedule of Gross Realized Gain\Loss on Securities

Realized gains and losses are determined on the basis of specific identification. During the six months ended June 30, 2016 and 2015, sales proceeds and gross realized gains and losses on trading securities were:

 

    June 30,
2016
  June 30,
2015
         
  Sales proceeds   $ 280,195     $ 1,959,738  
  Gross realized (losses)   $ —       $ (485,329 )
  Gross realized gains     74,410       —    
  Gain (loss) on sale of trading securities   $ 74,410     $ (485,329 )
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
          Significant  
        Quoted Prices in Active   Other Observable   Significant Unobservable
    Fair Value at   Markets   Inputs   Inputs
    June 30, 2016   (Level 1)   (Level 2)   (Level 3)
Trading securities   $ 544,266     $ 544,266     $ —       $ —    
Money market funds     42,734       42,734       —         —    
Total   $ 587,000     $ 587,000     $ —       $ —    

 

        Fair Value Measurements at Reporting Date Using
          Significant  
        Quoted Prices in Active   Other Observable   Significant Unobservable
    Fair Value at   Markets   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     $ —       $ —