SECURITIES AVAILABLE FOR SALE

6 Months Ended

Jun. 30, 2011

Investments, Debt and Equity Securities [Abstract]

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

8.  SECURITIES AVAILABLE FOR SALE

The table below summarizes the Company’s securities available for sale, prior to the adoption of the liquidation basis of accounting:

			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
December 31, 2010
U.S. Government Agencies notes and bonds:
Maturing within one year	$	927,794	$	-	$	(21,293	)	$	906,501
Maturing from one to three years		1,929,280		13,646		(9,947	)	_1,932,979
	$	2,857,074	$	13,646	$	(31,240	)	$	2,839,480

Sales activity results for securities available for sale for the six months ended June 30, 2010 were as follows:

Gross sales proceeds	$	750,900
Gross realized gains	$	228
Gross realized losses		(18,891	)
Net realized loss	$	(18,663	)

During the six months ended June 30, 2011, the Company received $899,769 of net proceeds upon maturity of $927,794 of securities available for sale.  For the six months ended June 30, 2011, the Company increased its net assets by $4,653 as a result of changes in the fair value of the securities available for sale.