Note 2 - Investments

9 Months Ended

Mar. 31, 2013

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 March 31, 2013 and July 1, 2012 were as follows:

March 31, 2013 Description	Fair Value		Cost basis		Unrealized Gain
Short-term investments	$	948,724	$	948,724	$	-
Equity securities	$	5,085,086	$	888,998	$	4,196,088
Mutual fund	$	3,531,607	$	3,393,902	$	137,705

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 fund	$	3,498,182	$	3,296,201	$	201,981

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

March 31, 2013 Description	Quoted Price for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Certificates of deposits	$	-	$	948,724	$	-
Equity securities		5,085,086		-		-
Mutual fund		3,531,607		-		-
Total	$	8,616,693	$	948,724	$	-

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 fund		3,498,182		-		-
Total	$	8,286,680	$	3,863,721	$	-

The shares of common stocks included in the portfolio as of March 31, 2013 were:

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

The mutual fund included in the table above is Vanguard GNMA Admiral Shares #536 fund.