Note 2 - Investments

3 Months Ended

Sep. 30, 2012

Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]

2.  Investments

The Company’s investments are categorized as available-for-sale.  Short-term investments consist of certificates of deposits with maturities of generally three months to one year.  Equity securities consist primarily of telecommunications stocks.  Mutual funds consist of federal agency mortgage backed securities (Ginnie Mae).  The fair value of the Company’s investments at September 30, 2012 and July 1, 2012 were as follows:

September 30, 2012 Description	Fair Value		Cost basis		Unrealized Gain
Short-term investments	$	3,457,488	$	3,457,488	$	-
Equity securities	$	5,094,633	$	888,998	$	4,205,635
Mutual funds	$	3,540,884	$	3,319,893	$	220,991

July 1, 2012 Description	Fair Value		Cost basis		Unrealized Gain
Short-term investments	$	3,863,721	$	3,863,721	$	-
Equity securities	$	4,788,498	$	888,998	$	3,899,500
Mutual funds	$	3,498,182	$	3,296,201	$	201,981

The fair values of the Company’s investments were determined as follows:

September 30, 2012 Description	Quoted Price for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Certificates of deposits	$	-	$	3,457,488	$	-
Equity securities		5,094,633		-		-
Mutual funds		3,540,884		-		-
Total	$	8,635,517	$	3,547,488	$	-

July 1, 2012 Description	Quoted Price for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Certificates of deposits	$	-	$	3,863,721	$	-
Equity securities		4,788,498		-		-
Mutual funds		3,498,182		-		-
Total	$	8,286,680	$	3,863,721	$	-

The stocks included in the portfolio as of September 30, 2012 were:

82,112	shares of AT&T
354	shares of Fairpoint Communications
939	shares of Supermedia
40,000	shares of Sprint
11,865	shares of Vodafone
2,520	shares of Manulife
774	shares of Teradata
4,398	shares of CenturyLink
4,508	shares of Frontier Communications
475	shares of LSI
23,784	shares of Verizon
4,079	shares of Windstream
774	shares of NCR

The fair value of certificates of deposits is estimated using net present value techniques and comparing the values derived from those techniques to certificates with similar values.