Quarterly report pursuant to Section 13 or 15(d)

Trading Securities

v3.10.0.1
Trading Securities
9 Months Ended
Sep. 30, 2018
Investments, Debt and Equity Securities [Abstract]  
Trading Securities

NOTE 2 - TRADING SECURITIES

 

Investments in securities are summarized as follows:

 

    Fair Value at   Gain on   Unrealized   Fair Value at
Year   Beginning of Year   Sale   Loss   September 30, 2018
  2018     $ 48,000     $ —       $ (36,000 )   $ 12,000  

 

 

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
    September 30, 2018   (Level 1)   (Level 2)   (Level 3)
Trading securities    $                   12,000    $                   12,000    $                          —    $                           —  
Money market funds                           1,000                           1,000                                 —                                 —  
Total    $                   13,000    $                   13,000    $                           —    $                           —  

 

        Fair Value Measurements at Reporting Date Using
        Quoted Prices   Significant   Significant
        in Active   Other   Unobservable
    Fair Value at   Markets   Observable Inputs   Inputs
    December 31, 2017   (Level 1)   (Level 2)   (Level 3)
Trading securities    $                   48,000    $                   48,000    $                           —    $                        —
Money market funds                         36,000                         36,000                                 —                                 —
Total    $                   84,000    $                   84,000    $                           —    $                         —

 

Generally, for all trading securities and available-for-sale securities, fair value is determined by reference to quoted market prices (level 1).