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NET INCOME (LOSS) PER UNIT
3 Months Ended
Apr. 30, 2016
NET INCOME (LOSS) PER UNIT  
NET INCOME (LOSS) PER UNIT

Note 2.         Net income (loss) per unit includes accrued income receivable.  For the three months ended April 30, 2016, the Trust recorded $1,295 of accrued income receivable as reflected on the Condensed Balance Sheet as of April 30, 2016 (unaudited), which is comprised entirely of interest receivable on U.S. Government securities. Accrued income receivable also includes accruals for anticipated pricing adjustments, which can be positive or negative. As of April 30, 2016, anticipated pricing adjustments were negative and have been classified under deferred royalty revenue. See Note 4.  Net income (loss) per unit is based on 13,120,010 units outstanding during the period.