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Investment in Available for Sale Marketable Securities

9 Months Ended

Sep. 30, 2020

Investment In Marketable Securities [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 September 30, 2020 and December 31, 2019 was $629,720 and $708,541, respectively, and accumulated unrealized losses were $622,222 and $663,775 as of September 30, 2020 and December 31, 2019, respectively. The fair market value of available for sale marketable securities was $7,498 as of September 30, 2020, based on 261,333 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						Nine Months Ended
	September 30,						September 30,
	2020			2019			2020			2019
Net realized gains (losses) on investment sold	$	-		$	(49,757	)	$	(2,543	)	$	(49,757	)
Net unrealized gains (losses) on investments still held		(1,519	)		31,320			(17,716	)		(70,097	)

Total	$	(1,519	)	$	(18,437	)	$	(20,259	)	$	(119,854	)

The reconciliation of the investment in marketable securities is as follows for the nine months ended September 30, 2020 and 2019:

	September 30,			September 30,
	2020			2019
Balance – December 31	$	44,766		$	33,917
Additions		-			240,000
Proceeds on sales of securities		(17,009	)		(68,703	)
Recognized losses		(20,259	)		(119,854	)
Balance – September 30	$	7,498		$	85,360