FAIR VALUE MEASUREMENTS

3 Months Ended

Sep. 30, 2021

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

NOTE 7 - FAIR VALUE MEASUREMENTS

The carrying values of the Company’s financial instruments not required to be carried at fair value on a recurring basis approximate fair value due to their short maturities (i.e., accounts receivable, other assets, accounts payable and other liabilities and obligations for securities sold) or the nature and terms of the obligation (i.e., other notes payable and mortgage notes payable).

The assets and liabilities measured at fair value on a recurring basis are as follows:

As of	September 30, 2021			June 30, 2021
Assets:	Total - Level 1			Total - Level 1
Investment in marketable securities:
REITs and real estate companies	$	7,832,000		$	11,624,000
Communication services		3,957,000			4,872,000
Energy		3,066,000			6,374,000
Financial services		2,602,000			3,873,000
Technology		1,668,000			442,000
Industrials		1,342,000			3,746,000
Basic material		1,256,000			1,797,000
Consumer cyclical		953,000			1,702,000
Healthcare		464,000			981,000
Other		294,000			381,000
Total		23,434,000			35,792,000
Liabilities:
Due to securities broker:		(1,170,000	)		(7,917,000	)
Obligations for securities sold:		(6,070,000	)		(6,419,000	)
	$	16,194,000		$	21,456,000

The fair values of investments in marketable securities are determined by the most recently traded price of each security at the balance sheet date.