INVESTMENT IN MARKETABLE SECURITIES

12 Months Ended

Jun. 30, 2017

Investments, Debt and Equity Securities [Abstract]

Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]

NOTE 5 - INVESTMENT IN MARKETABLE SECURITIES

The Company’s investment in marketable securities consists primarily of corporate equities. The Company has also periodically invested in corporate bonds and income producing securities, which may include interests in real estate based companies and REITs, where financial benefit could insure to its shareholders through income and/or capital gain.

At June 30, 2017 and 2016, all of the Company’s marketable securities are classified as trading securities. The change in the unrealized gains and losses on these investments are included in earnings. Trading securities are summarized as follows:

			Gross		Gross		Net		Fair
Investment	Cost		Unrealized Gain		Unrealized Loss		Unrealized Loss		Value
As of June 30, 2017
Corporate Equities	$	29,170,000	$	1,768,000	$	(13,761,000)	$	(11,993,000)	$	17,177,000
As of June 30, 2016
Corporate Equities	$	22,500,000	$	1,161,000	$	(9,379,000)	$	(8,218,000)	$	14,282,000

As of June 30, 2017, and 2016, approximately 28% and 65% of the investment marketable securities balance above is comprised of the common stock of Comstock Mining Inc.

 

As of June 30, 2017 and 2016, the Company had $13,294,000 and $3,620,000, respectively, of unrealized losses related to securities held for over one year.

 

Net loss on marketable securities on the statement of operations is comprised of realized and unrealized gains (losses). Below is the composition of the two components for the years ended June 30, 2017 and 2016, respectively.

For the year ended June 30,	2017		2016
Realized gain (loss) on marketable securities	$	356,000	$	(990,000)
Unrealized loss on marketable securities		(3,852,000)		(6,199,000)
Net loss on marketable securities	$	(3,496,000)	$	(7,189,000)