Quarterly report pursuant to Section 13 or 15(d)

Trading Securities (Tables)

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

Investments in securities are summarized as follows:

 

Year   Fair Value at
Beginning of Year
  Purchases   Proceeds from
Sale
  Gain on
Sale
  Unrealized
Loss
  Fair Value at
September 30, 2016
2016     $ 324,444     $ 510,000     $ (283,255 )   $ 74,712     $ (295,270 )   $ 330,631  
Schedule of Gross Realized Gain\Loss on Securities

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

  

    September 30, 2016   September 30, 2015
         
  Sales proceeds   $ 283,255     $ 2,576,667  
  Gross realized (losses)   $ —       $ (971,257 )
  Gross realized gains     74,712       —    
  Gain (loss) on sale of trading securities   $ 74,712     $ (971,257 )
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   Other   Significant
    Fair Value at   in Active   Observable   Unobservable
    September 30, 2016   Markets
(Level 1)
  Inputs
(Level 2)
  Inputs
(Level 3)
Trading securities   $ 330,631     $ 330,631     $ —       $ —    
Money market funds     36,255       36,255       —         —    
Total   $ 366,886     $ 366,886     $ —       $ —    

 

        Fair Value Measurements at Reporting Date Using
          Significant  
        Quoted Prices   Other   Significant
    Fair Value at   in Active   Observable   Unobservable
    December 31, 2015   Markets
(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     $ —       $ —