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MARKETABLE EQUITY SECURITIES
 12 Months Ended
Dec. 31, 2011
MARKETABLE EQUITY SECURITIES  
MARKETABLE EQUITY SECURITIES

 

NOTE 2 MARKETABLE EQUITY SECURITIES

        These securities are valued at fair value. Any resulting gain or loss is recorded to an unrealized gain and loss account (accumulated other comprehensive (loss) income) that is reported as a separate line item in the shareholders' equity section of the balance sheet. The gains and losses on available-for-sale securities are not reported on the statement of operations until the securities are sold or are other than temporarily impaired.

        Changes in the Company's holdings of marketable securities for the years ended December 31, 2011 and 2010 are as follows (in thousands):

 
   2011   2010  

Opening Balance

   $ 4,576   $ 11  

Purchases

     284     4,023  

Proceeds from sale

     (1,853 )   —  

Gain on sale

     19     —  

Unrealized (loss) gain

     (1,546 )   542  
           

Ending Balance

   $ 1,480   $ 4,576