Note 3 - Investments

12 Months Ended

Jun. 30, 2013

Investments, Debt and Equity Securities [Abstract]

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

3. INVESTMENTS

     The Company’s marketable securities are categorized as available-for-sale securities. The cost for marketable securities was determined using the specific identification method. The fair values of marketable securities are based on the quoted market price for those securities. Short-term investments consist of certificates of deposits with maturities of generally three months to one year. At June 30, 2013, the fair value of short-term investments was $949,815. At July 1, 2012, the fair value of short-term investments was $3,863,721. Non-current investments are marketable securities which primarily consist of telecommunications stocks and a mutual fund that invests in mortgage backed securities. Unrealized gains and losses are reported as a component of accumulated other comprehensive earnings in Stockholders’ Equity.

As of June 30, 2013, the Company had $16,925 of gross unrealized gains from its investments in federal agency mortgage backed securities which had a fair value of $3,430,670. As of July 1, 2012, $201,981 in gross unrealized gains were from its investments in federal agency mortgage backed securities which had a fair value of $3,498,182. The Company’s investments were was follows:

	Original Cost		Unrealized Gain		Unrealized Loss			Fair Value
June 30, 2013
Equity securities	$	888,998	$	4,159,182	$	(1,623	)	$	5,046,557
Mutual fund		3,413,745		16,925		-			3,430,670
Certificates of deposits		949,815		-		-			949,815
July 1, 2012
Equity securities	$	888,998	$	3,904,987	$	(5,487	)	$	4,788,498
Mutual fund		3,296,201		201,981		-			3,498,182
Certificates of deposits		3,863,721		-		-			3,863,721

During fiscal 2013 and fiscal 2012, the Company had certain equity securities with cumulative unrealized losses of $1,623 and $5,487 respectively. Management believes the unrealized losses are temporary and the Company has the ability and intent to hold these securities long enough to recover its investment.

	Less than 12 months				12 Months or greater					Total
June 30, 2013	Fair Value		Unrealized loss		Fair Value		Unrealized loss			Fair Value		Unrealized loss
Equity securities	$	-	$	-	$	3,392	$	(1,623	)	$	3,392	$	(1,623	)

	Less than 12 months				12 Months or greater					Total
July 1, 2012	Fair Value		Unrealized loss		Fair Value		Unrealized loss			Fair Value		Unrealized loss
Equity securities	$	-	$	-	$	5,373	$	(5,487	)	$	5,373	$	(5,487	)

 The equity securities portfolio includes the following stocks:

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

There were no sales or exchanges of holdings in the years ended June 30, 2013 and July 1, 2012 other than the exchange of the Company’s shares of SuperMedia for shares of DexMedia as a result of the merger on April 30, 2013. The Company purchased 5,000 shares of Verizon during fiscal 2012.

     As stated in Note 1, the Company records its readily marketable debt and equity securities at fair value. These assets are valued in accordance with a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows:

Level 1. Observable inputs such as quoted prices in active markets for identical assets or liabilities;

Level 2. Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and         

Level 3. Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.

The fair value of these assets as of June 30, 2013 is as follows:

Description	Quoted Price for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Unrealized gains/(losses) for the Year Ended June 30, 2013			Cumulative Unrealized gains/(losses) as of June 30, 2013
Equity securities	$	5,046,557	$	-	$	-	$	258,058		$	4,157,559
Mutual fund		3,430,670		-		-		(185,056	)		16,925
Certificates of deposits		-		949,815		-		-			-
TOTAL	$	8,477,227	$	949,815		-	$	73,002		$	4,174,484

The fair value of these assets as of July 1, 2012 was as follows:

Description	Quoted Price for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Unrealized gains/(losses) for the Year Ended July 1, 2012		Cumulative Unrealized gains/(losses) as of July 1, 2012
Equity securities	$	4,788,498	$	-	$	-	$	374,386	$	3,899,500
Mutual fund		3,498,182		-		-		38,962		201,981
Certificates of deposits		-		3,863,721		-		-		-
TOTAL	$	8,286,680	$	3,863,721		-	$	413,348	$	4,101,481

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