INVESTMENT IN MARKETABLE SECURITIES

6 Months Ended

Dec. 31, 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 December 31, 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:

			Gross		Gross		Net		Fair
Investment	Cost		Unrealized Gain		Unrealized Loss		Unrealized Loss		Value
As of December 31, 2017
Corporate Equities	$	27,296,000	$	2,251,000	$	(16,338,000)	$	(14,087,000)	$	13,209,000
As of June 30, 2017
Corporate Equities	$	29,170,000	$	1,768,000	$	(13,761,000)	$	(11,993,000)	$	17,177,000

As of December 31, 2017 and June 30, 2017, approximately 16% and 28%, respectively, of the investment marketable securities balance above is comprised of the common stock of Comstock Mining, Inc.

As of December 31, 2017 and June 30, 2017, the Company had unrealized losses of $16,105,000 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 December 31,	2017		2016
Realized gain (loss) on marketable securities	$	181,000	$	(107,000)
Unrealized gain (loss) on marketable securities		726,000		(260,000)
Unrealized loss on marketable securities related to Comstock		(2,085,000)		(2,923,000)
Net loss on marketable securities	$	(1,178,000)	$	(3,290,000)

For the six months ended December 31,	2017		2016
Realized (loss) gain on marketable securities	$	(119,000)	$	312,000
Unrealized gain (loss) on marketable securities		673,000		(57,000)
Unrealized loss on marketable securities related to Comstock		(2,754,000)		(2,391,000)
Net loss on marketable securities	$	(2,200,000)	$	(2,136,000)