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INVESTMENTS
3 Months Ended
Mar. 31, 2015
INVESTMENTS  
INVESTMENTS

 

NOTE 2   INVESTMENTS

 

During the quarter ended March 31, 2015, the Company invested $1.2 million of its cash in marketable equity securities.  Total cost of these marketable equity securities was $1.6 million (December 31, 2014 - $0.4 million). These securities are classified as available-for-sale securities and are valued at fair value. Any resulting gain or loss is recorded to an unrealized income and loss account (accumulated other comprehensive income (loss)) that is reported as a separate line item in the shareholders’ equity section of the balance sheet. The gains and losses for available-for-sale securities are not reported on the statement of operations until the securities are sold or if there is an other than temporary decline in fair value below cost. As at March 31, 2015, the fair value of these securities was $1.9 million, and as a result the Company recorded a loss, net of tax, of $0.2 million to other comprehensive income.