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Investment in Available for Sale Marketable Securities

3 Months Ended

Mar. 31, 2020

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 March 31, 2020 and December 31, 2019 was $647,000 and $708,541, respectively, and accumulated unrealized losses were $635,975 and $663,775 as of March 31, 2020 and December 31, 2019, respectively. The value of available for sale marketable securities was $11,025 as of March 31, 2020, based on 333,333 shares of common stock held in two entities with an average per share market price of approximately $0.03.

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

	Three Months Ended
	March 31,
	2020			2019
Net realized gains (losses) on investment sold	$	(2,142	)	$	-
Net unrealized gains (losses) on investments still held		(16,644	)		(8,917	)

Total	$	(18,786	)	$	(8,917	)

The reconciliation of the investment in marketable securities is as follows for the three months ended March 31, 2020 and 2019:

	March 31,			March 31,
	2020			2019
Balance – January 1	$	44,766		$	33,917
Additions		-			-
Proceeds on sales of securities		(14,955	)		-
Recognized losses		(18,786	)		(8,917	)
Balance – March 31	$	11,025		$	25,000