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MARKETABLE SECURITIES

12 Months Ended

Dec. 31, 2020

5. Marketable Securities

Marketable securities in equity securities with readily determinable market prices consisted of the following as of December 31, 2020 and 2019:

	Marketable equity securities at December 31, 2020
			Gross unrealized		Gross realized
	Cost		gains (losses)		gains (losses)		Fair value
Common shares	$	1,505,686	$	1,083,532	$	(26,235)	$	2,562,983

	Marketable equity securities at December 31, 2019
			Gross unrealized		Gross realized
	Cost		gains (losses)		gains (losses)		Fair value
Common shares	$	423,025	$	216,622	$	-	$	639,647

The following table presents additional information about marketable equity securities:

	Marketable
	Equity Securities
Balance at January 1, 2019	$	178,597
Purchases of marketable equity securities		485,000
Marketable equity securities received upon warrant exercise		381
Marketable equity securities received upon conversion of preferred stock		202,145
Sales of marketable equity securities		(580,721	)
Realized gains on marketable equity securities		95,340
Unrealized gains on marketable equity securities		258,905
Balance at January 1, 2020	$	639,647
Purchases of marketable equity securities		1,425,341
Sales of marketable equity securities		(373,360	)
Realized gains on marketable equity securities		75,346
Unrealized gains on marketable equity securities		796,009
Balance at December 31, 2020	$	2,562,983

At December 31, 2020 and 2019, the Company had invested in the marketable equity securities of certain publicly traded companies. During the year ended December 31, 2020, unrealized gains of $796,009 were included in net income as a component of change in fair value of equity securities. The Company’s investment in marketable equity securities will be revalued on each balance sheet date. The fair value of the Company’s holdings in marketable equity securities at December 31, 2020 and 2019 is a Level 1 measurement based on quoted prices in an active market.

At December 31, 2020 and 2019, the Company also held equity investments in private companies and an investment in a limited partnership. These investments do not have readily determinable fair values and have been measured at cost less impairment, if any, and adjusted for observable price changes for identical or similar investments of the issuer.