Securities Owned And Securities Sold, But Not Yet Purchased, at Fair Value

12 Months Ended

Sep. 30, 2015

Securities Owned and Securities Sold, But Not Yet Purchased, at Fair Value

SECURITIES OWNED AND SECURITIES SOLD, BUT NOT YET PURCHASED, AT FAIR VALUE

Classification of securities are as follows:



As of September 30, 2015
Securities owned at fair value	Level 1		Level 2		Level 3		Total
Corporate stocks	$	44,000	—		—		$	44,000
Municipal bonds	638,000		—		—		638,000
Restricted stock	—		205,000		—		205,000
	$	682,000	$	205,000	$	—	$	887,000



Securities sold, but not yet purchased at fair value	Level 1		Level 2		Level 3		Total
Corporate stocks	$	32,000	$	—	$	—	$	32,000



As of September 30, 2014
Securities owned at fair value	Level 1		Level 2		Level 3		Total
Corporate stocks	$	256,000	—		—		$	256,000
Municipal bonds	696,000		—		—		696,000
Restricted stock	—		109,000		—		109,000
	$	952,000	$	109,000	$	—	$	1,061,000



Securities sold, but not yet purchased at fair value	Level 1		Level 2		Level 3		Total
Corporate stocks	$	55,000	$	—	$	—	$	55,000

Certain positions in common stock were received as compensation for investment banking services. Restricted common stock may be freely traded only upon the effectiveness of a registration statement covering them or upon the satisfaction of the requirements of Rule 144, including the requisite holding period.