MARKETABLE SECURITIES

3 Months Ended

Dec. 31, 2012

Investments, Debt and Equity Securities [Abstract]

MARKETABLE SECURITIES

NOTE 4    MARKETABLE SECURITIES

The Company accounts for its marketable securities in accordance with ASC 320. Accordingly, the Company classifies its marketable securities as either (i) held-to-maturity, (ii) trading, or (iii) available-for-sale. Effective October 1, 2012, the Company changed its classification of marketable equity securities and corporate bonds from available-for-sale to trading. As a result of this reclassification, a gross gain of $4,764 and a gross loss of $(28,508) was reclassed out of accumulated other comprehensive income (loss) and charged to earnings using a specific identification basis. Equity securities are carried at fair value, as determined by quoted market prices, which is a Level 1 input, as established by the fair value hierarchy under ASC 820.  Corporate bonds are carried at amortized cost, which approximates market value. The corresponding unrealized holding gains or losses, net of taxes, are recognized in earnings. The Company’s marketable securities are summarized in the table below:

	Current
	December 31,	September 30,
	2012	2012
Trading:
Cost.................................................................................................	$1,254,088	$--
Unrealized gains............................................................................	58,970	--
Unrealized losses..........................................................................	(1,500)	--
Total trading at fair value.....................................................	$1,311,558	$--
Available-for-sale:
Cost.................................................................................................	$--	$444,349
Unrealized gains............................................................................	--	4,764
Unrealized losses..........................................................................	--	(28,508)
Total available-for-sale at fair value ..................................	$--	$420,605

At December 31, 2012, the contractual maturity of debt securities in the amount of $202,500 was greater than ten years.

The net realized gain on marketable securities of $242,371 for the three-month period ended December 31, 2012 is included as a component of other income in the accompanying consolidated statements of operations and comprehensive income (loss).

The following table presents the Company’s fair value hierarchy for assets, consisting of marketable securities, measured at fair value on a recurring basis at December 31, 2012 and September 30, 2012:

	Level 1	Level 2	Level 3	Total
Equity securities............................	$420,605	$ --	$--	$420,605
Corporate bonds...........................	--	--	--	--
Total assets at fair value at  September 30, 2012................	$420,605	$--	$--	$420,605
Equity securities............................	$1,109,058	$          --	$--	$1,109,058
Corporate bonds...........................	--	202,500	--	202,500
Total assets at fair value at  December 31, 2012...............	$1,109,058	$202,500	$--	$1,311,558