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INVESTMENTS
6 Months Ended
Jun. 30, 2015
INVESTMENTS  
INVESTMENTS

 

NOTE 2   INVESTMENTS

 

During the quarter ended June 30, 2015, the Company invested $1.1 million of cash in marketable equity securities.  As of June 30, 2015, total cost of all marketable equity securities was $1.9 million (December 31, 2014 - $0.7 million). These securities are classified as available-for-sale securities and are recorded at fair value. As at June 30, 2015, the fair value of these securities was $1.3 million, and as a result the Company recorded a loss, net of tax, of $0.5 million in other comprehensive income.  The 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, for the three months ended June 30, 2015.