Investment Securities

3 Months Ended

Mar. 31, 2012

Investment Securities [Abstract]

Investment Securities

Note 3 - Investment Securities

Investment securities - held to maturity, consist of U.S. Treasury Bills with original maturities of three months or more and are carried at amortized cost (which includes accrued interest), based upon the Company’s intent and ability to hold these investments to maturity.

Investment securities – trading, consist of investments in equity securities held for trading purposes and are carried at fair value with net unrealized gains and losses recorded directly in the statement of operations.

Investment securities consist of the following:

	March 31, 2012						December 31, 2011
(in thousands)		Carrying Value		Cost or Amortized Cost		Fair Value		Carrying Value		Cost or Amortized Cost		Fair Value
Held to Maturity:
U.S. Treasury Bills	$	5,700	$	5,700	$	5,700	$	-	$	-	$	-
Trading:
Equity Securities		-		-		-		212		224		212
	$	5,700	$	5,700	$	5,700	$	212	$	224	$	212

The gross unrealized gains (losses) on investment securities held to maturity consist of the following:

(in thousands)

Held to Maturity:		March 31, 2012		December 31, 2011
Gross unrealized gains (losses)	$	-	$	-

Unrealized losses on investment securities is as follows:

(in thousands)		Three Months Ended March 31,		Three Months Ended March 31,
		2012		2011
Cost basis	$	-	$	-
Current value		-		-
Unrealized losses	$	-	$	-

Realized gains on the sales of investment securities is as follows:

(in thousands)		Three Months Ended March 31,			Three Months Ended March 31,
		2012			2011
Net sale proceeds	$	233		$	117
Cost basis		(217	)		(111	)
Realized gains	$	16		$	6