Annual report pursuant to Section 13 and 15(d)

Trading Securities

v3.19.1
Trading Securities
12 Months Ended
Dec. 31, 2018
Investments, Debt and Equity Securities [Abstract]  
Trading Securities

NOTE 2 - TRADING SECURITIES

 

Investments in securities are summarized as follows:

 

    Fair Value at       Proceeds   Loss       Fair Value at
Year   Beginning of Year   Purchases   from
Sale
  on
Sale
  Contributed
Capital
  Unrealized
Loss
  December 31, 2018
  2018     $ 48,000     $ —       $ —       $ —       $ —       $ (44,000 )   $ 4,000  
  2017     $ 59,000     $ —       $ —       $ —       $ —       $ (11,000 )   $ 48,000  

 

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
    December 31, 2018   (Level 1)   (Level 2)   (Level 3)
Trading securities    $                    4,000    $                    4,000    $                          —       $                  —   
Money market funds                          1,196                          1,196                               —                           —   
Total    $                    5,196    $                    5,196    $                          —       $                  —   

 

 

        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).