Annual report pursuant to Section 13 and 15(d)

Trading Securities (Tables)

v3.7.0.1
Trading Securities (Tables)
12 Months Ended
Dec. 31, 2016
Trading Securities Tables  
Schedule of Change in Investment in Securities

Investments in securities are summarized as follows:

 

    Fair Value at Beginning       Proceeds from   Loss on   Contributed   Unrealized   Fair Value at
December 31,
Year   of Year   Purchases   Sale   Sale   Capital   Loss   2016
  2016     $ 324,000     $ 510,000     $ (783,000 )   $ (95,000 )   $ 160,000     $ (57,000 )   $ 59,000  
  2015     $ 6,026,000     $ —       $ (3,061,000 )   $ (1,460,000 )   $ —       $ (1,181,000 )   $ 324,000  
Schedule of Gross Realized Gain\Loss on Securities

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

 

        December 31,
2016
  December 31,
2015
     
  Sales proceeds       $783,000   $3,061,000
  Gross realized (losses)       $(95,000)   $(1,460,000)
  Gross realized gains        
  Loss on sale of trading securities       $(95,000)   $(1,460,000)
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
    December 31, 2016   (Level 1)   (Level 2)   (Level 3)
Trading securities    $                   59,000    $                   59,000    $                           -       $                    -   
Money market funds                         36,000                         36,000                                 -                             -   
Total    $                   95,000    $                   95,000    $                           -       $                    -   

 

 

        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    $                 324,000    $                 324,000    $                           -       $                    -   
Money market funds                       333,000                       333,000                                 -                             -   
Total    $                 657,000    $                 657,000    $                           -       $                    -