Tuesday, April 15, 2008 11:58:38 PM
Marketable Investment Securities
Marketable securities have been classified as trading securities and accordingly are valued at fair market with the resulting realized difference between cost and market (or fair value) included in income. Fair market value fluctuations of securities maintained by the company are adjusted monthly with the resulting unrealized appreciation or depreciation included in the current income statement. Cost of securities disposed is determined by the specific identification method. Net realized gains for the year ended December 31, 2007 and 2006 were $1,076,237 and $1,992,359, respectively. Unrealized losses at December 31, 2007 were $549,157.
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