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Investment in Available for Sale Marketable Securities

12 Months Ended

Dec. 31, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

INVESTMENT IN AVAILABLE FOR SALE MARKETABLE SECURITIES

NOTE 3 — INVESTMENT IN AVAILABLE FOR SALE MARKETABLE SECURITIES

The Company's investment in marketable equity securities is being held for an indefinite period and thus have been classified as available for sale. Cost basis of securities held as of December 31, 2019 and 2018 was $708,541 and $587,000, respectively, and accumulated unrealized losses were $663,775 and $553,083 as of December 31, 2019 and 2018, respectively. The value of available for sale marketable securities was $44,766 as of December 31, 2019, based on 589,753 shares of common stock held in two entities with an average per share market price of approximately $0.08.

Net recognized gains (losses) on equity investments were as follows:

	Years Ended
	December 31,
	2019			2018
Net realized gains (losses) on investment sold	$	(49,757	)	$	(1,792	)
Net unrealized gains (losses) on investments still held		(110,692	)		(99,416	)

Total	$	(160,449	)	$	(101,208	)

The reconciliation of the investment in marketable securities is as follows for the years ended December 31, 2019 and 2018:

	December 31,			December 31,
	2019			2018
Balance – January 1	$	33,917		$	135,409
Additions		240,000			-
Proceeds on sales of securities		(68,702	)		(284	)
Recognized losses		(160,449	)		(101,208	)
Balance – December 31	$	44,766		$	33,917