|9 Months Ended|
Sep. 30, 2017
|Investments, Debt and Equity Securities [Abstract]|
NOTE 2 - TRADING SECURITIES
The Company’s securities investments are bought and held principally for the purpose of selling them in the short term and are classified as trading securities. Trading securities are recorded at fair value based on quoted market prices (level 1) on the balance sheet in current assets, with the change in fair value during the period included in earnings as unrealized gains or losses in the statement of operations. Gains from the sales of such securities will be utilized to fund payment of obligations and to provide working capital for operations and to finance future growth, including, but not limited to: conducting our ongoing business, conducting strategic business development, marketing analysis, due diligence investigations into possible acquisitions, and software development costs and implementation of the Company’s business plans generally.
Investments in securities are summarized as follows:
Realized gains and losses are determined on the basis of specific identification. During the nine months ended September 30, 2017 and 2016, sales proceeds and gross realized gains and losses on trading securities were:
The following table discloses the assets measured at fair value on a recurring basis and the methods used to determine fair value:
The fair value of the Company’s trading securities is determined by reference to quoted market prices (level 1). During the nine months ended September 30, 2017, the Company recorded $37,000 in unrealized losses to account for the changes in fair value of its trading securities. During the nine months ended September 30, 2016, the Company recorded $295,000 in unrealized gains to account for the changes in fair value of its trading securities.
The entire disclosure for investments in certain debt and equity securities.
Reference 1: http://www.xbrl.org/2003/role/presentationRef