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Marketable Securities
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3 Months Ended |
|---|---|
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Mar. 31, 2012
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| Notes to Financial Statements | |
| Marketable Securities |
As part of our settlement with YNG, we received 2,000,000 restricted common shares of YNG with an initial fair value of $1,152,000 (utilizing the sale price quoted on the Toronto Stock Exchange of $.576 a Level 1 input). We have classified the shares as available for sale.
During the three-month period ended March 31, 2012 we sold 277,595 shares of YNG common stock at prices ranging from $.40 per share to $.30 per share. The sale of shares resulted in a realized loss of $55,079 during the period. We generated net cash of $104,815 from the sale of these shares.
As of March 31, 2012, we had 1,239,505 shares available for sale. Subsequent adjustments to the fair value of the shares are reflected in the carrying amount as of the balance sheet date, and fluctuations in the fair value affect other comprehensive income. As of March 31, 2012, the market price for YNG shares was $.324. |