INVESTMENT IN MARKETABLE SECURITIES

3 Months Ended

Sep. 30, 2017

Investments, Debt and Equity Securities [Abstract]

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

NOTE 4 – 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 transfer to its shareholders through income and/or capital gain.

At September 30, 2017 and June 30, 2017, 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:

Investment	Cost		Gross Unrealized Gain		Gross Unrealized Loss		Net Unrealized Loss		Fair Value
As of September 30, 2017
Corporate
Equities	$	26,908,000	$	2,172,000	$	(14,581,000)	$	(12,409,000)	$	14,499,000

As of June 30, 2017
Corporate
Equities	$	29,170,000	$	1,768,000	$	(13,761,000)	$	(11,993,000)	$	17,177,000

As of September 30, 2017 and June 30, 2017, approximately 29% and 28%, respectively, of the investment marketable securities balance above is comprised of the common stock of Comstock Mining, Inc.

 

As of September 30, 2017 and June 30, 2017, the Company had unrealized losses of $14,249,000 and $13,294,000, respectively, 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 respective periods:

For the three months ended September 30,	2017		2016
Realized gain (loss) on marketable securities	$	(300,000)	$	419,000
Unrealized gain (loss) on marketable securities		(722,000)		735,000
Net gain (loss) on marketable securities	$	(1,022,000)	$	1,154,000