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INVESTMENT IN MARKETABLE SECURITIES
 12 Months Ended
Jun. 30, 2019
INVESTMENT IN MARKETABLE SECURITIES  
INVESTMENT IN MARKETABLE SECURITIES

NOTE 6 – 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, 2019 and 2018, 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, 2019

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

Corporate Equities

 

$

19,204,000

 

$

1,753,000

 

$

(11,261,000)

 

$

(9,508,000)

 

$

9,696,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of June 30, 2018

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

Corporate Equities

 

$

22,388,000

 

$

2,450,000

 

$

(10,997,000)

 

$

(8,547,000)

 

$

13,841,000

 

As of June 30, 2019 and 2018, approximately 7% of the investment marketable securities balance above is comprised of the common stock of Comstock Mining Inc (“Comstock”).

As of June 30, 2019 and 2018, the Company had $11,088,000 and $10,819,000, respectively, of unrealized losses related to securities held for over one year; of which $10,900,000 and $10,646,000 are related to its investment in Comstock, respectively.

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, 2019 and 2018, respectively.

 

 

 

 

 

 

 

 

For the year ended June 30, 

    

2019

    

2018

Realized loss on marketable securities related to Comstock

 

$

 —

 

$

(6,007,000)

Realized (loss) gain on marketable securities

 

 

(806,000)

 

 

632,000

Unrealized loss on marketable securities related to Comstock

 

 

(254,000)

 

 

(2,337,000)

Unrealized (loss) gain on marketable securities

 

 

(673,000)

 

 

5,935,000

Net loss on marketable securities

 

$

(1,733,000)

 

$

(1,777,000)