Quarterly report pursuant to Section 13 or 15(d)

Organization And Summary Of Significant Accounting Policies (Tables)

v2.4.0.6
Organization And Summary Of Significant Accounting Policies (Tables)
6 Months Ended
Jun. 30, 2012
Organization And Summary Of Significant Accounting Policies Tables  
Estimated Economic Useful Lives Of The Related Assets

 

 

Office furniture, equipment and leasehold improvements are stated at cost.  Depreciation and amortization are computed using the straight-line method over the estimated economic useful lives of the related assets as follows:


   
Furniture & fixtures 5-10 years
Equipment 5- 7 years
Computer equipment                 3 years
Leasehold improvements 8-15 years
Schedule Of Gross Unrealized Gain\Loss On Securities

 

 

Investments in securities are summarized as follows:

             
    June 30, 2012
    Gross   Gross    
    Unrealized   Unrealized   Fair
    Gain   Loss   Value
Trading securities  

$

180,621

 

$

-

 

$

181,868

Available-for-sale securities   $      260,380  

$

-

 

$

456,880


             
    December 31, 2011
    Gross   Gross    
    Unrealized   Unrealized   Fair
    Gain   Loss   Value
Trading securities  

$

-

 

$

105,026

 

$

268,163

Available-for-sale securities  

$

112,660

 

$

-

 

$

226,160

             
Schedule Of Gross Realized Gain\Loss On Securities

 

 

Realized Gains and losses are determined on the basis of specific identification.  During the six months ended June 30, 2012 and 2011, sales proceeds and gross realized gains and losses on securities classified as available-for-sale securities and trading securities were:

       
  For the six months ended
  June 30,
  2012   2011
Trading securities:      
  Sales Proceeds

$

251,876

 

$

480,487

  Gross Realized Losses

$

78,609

 

$

-

  Gross Realized Gains

$

-

 

$

162,077

       
Available-for-sale securities:      
  Sale Proceeds

$

-

 

$

-

  Gross Realized Losses

$

-

 

$

-

  Gross Realized Gains

$

-

 

$

-

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
  June 30, 2012   (Level 1)   (Level 2)   (Level 3)
               
Trading securities

$

181,868

 

$

181,868

 

$

-

 

$

-

Available-for-sale securities

$

456,880

 

$

456,880

 

$

-

 

$

-

               
Total

$

638,748

 

$

638,748

 

$

-

 

$

-