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Investment in Fair Value (Tables)

12 Months Ended

Jun. 30, 2013

Schedule of gross unrealized gains, gross unrealized losses and fair value of available-for-sale securities

The cost, gross unrealized gains, gross unrealized losses and fair value of available-for-sale securities by major security type at June 30, 2013 and June 30, 2012 are as follows:

			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
2013
Certificates of deposit	$	2,600,000	$	—	$	—		$	2,600,000
Municipal bonds		1,292,335		5,414		(4,780	)		1,292,968
2013 Total investment securities	$	3,892,335	$	5,414	$	(4,780	)	$	3,892,968

2012
Certificates of deposit	$	2,324,945	$	—	$	—		$	2,324,945
Municipal bonds		857,494		4,224		(1,952	)		859,766
2012 Total investment securities	$	3,182,439	$	4,224	$	(1,952	)	$	3,184,711

Schedule of contractual maturities of available-for-sale securities

As of June 30, 2013 and June 30, 2012, the contractual maturities of available-for-sale securities were as follows:

	Years to Maturity
	Less than		One to
	One Year		Five Years		Total
2013
Available-for-sale	$	2,077,769	$	1,815,199	$	3,892,968

2012
Available-for-sale	$	2,468,500	$	716,211	$	3,184,711

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

+ References+ Details