Marketable securities and other investments

9 Months Ended

Sep. 30, 2022

Marketable Securities and Other Investments [Abstract]

Marketable securities and other investments

10. Marketable securities and other investments

Our marketable securities are stated at fair value in accordance with ASC Topic 321, Investments- Equity Securities. Any changes in the fair value of the Company’s marketable securities are included in net income under the caption of net loss from investments. The market value of the securities is determined using prices as reflected on an established market. Realized and unrealized gains and losses are determined on an average cost basis. The marketable securities are investments predominately in shares of large publicly traded securities which are being invested until such time the funds are needed for operations. 

The value of these marketable securities at September 30, 2022 and December 31, 2021 is as follows:

	September 30,			December 31,
	2022			2021
Cost	$	527,440		$	1,350,000
Gross unrealized gain		-			-
Gross unrealized loss		(157,590	)		(22,560	)
Fair value	$	369,850		$	1,327,440

The above marketable securities are reflected as level 1 assets as the securities prices are quotes in an established market. The Company has reflected $157,590 in net unrealized losses and has reported these securities as net losses from investments on the statement of operations during the nine months ended September 30, 2022. There were no realized gains or losses on marketable securities in the nine months ended September 30, 2021.