Marketable Securities

6 Months Ended

Jun. 30, 2014

Marketable Securities [Abstract]

Marketable Securities

Note 3 – Marketable Securities

All of the Company’s investments in marketable securities were sold during the first quarter of 2013 and the funds were deposited in an insured deposit account at a securities brokerage firm.

As of June 30, 2014, our marketable securities had a fair market value of $45,377 and was in the form of cash in an insured deposit account at the brokerage firm. The $3 of income received was deposited into the insured deposit account at the securities brokerage firm and we transferred $32,000 from that account to the operating account in the first six months of 2014.

The Company recognizes gain or loss on the sale of marketable securities based upon the first-in-first-out method. During the six month period ended June 30, 2013, the Company sold $76,341 of marketable securities having a cost basis of $73,568 and recorded a gain of $2,773. The proceeds of $76,341 were deposited into an insured deposit account at a securities brokerage firm. The Company transferred $23,000 to the operating account and the difference of $53,341 plus the dividends earned on the marketable securities and interest earned on cash balances during the first six months of 2013 of $629, for a total of $53,970, are shown as purchases in marketable securities.