Note 2 - Investments

3 Months Ended

Sep. 28, 2014

Notes to Financial Statements

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 28, 2014 and June 29, 2014 were as follows:

Septemb er 28 , 201 4 Description	Fair Value		Cost basis		Unrealized Gain
Short-term investments	$	133,549	$	133,549	$	-
Equity securities	$	5,319,759	$	1,285,759	$	4,034,000
Mutual funds	$	3,616,341	$	3,529,677	$	86,664

Ju ne 29 , 201 4 Description	Fair Value		Cost basis		Unrealized Gain
Short-term investments	$	1,453,326	$	1,453,326	$	-
Equity securities	$	5,373,986	$	1,285,759	$	4,088,227
Mutual funds	$	3,605,513	$	3,505,388	$	100,125

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

September 28, 2014 Description	Quoted Price for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Certificates of deposits	$	-	$	133,549	$	-
Equity securities		5,319,759		-		-
Mutual funds		3,616,341		-		-
Total	$	8,936,100	$	133,549	$	-

June 29, 2014 Description	Quoted Price for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Certificates of deposits	$	-	$	1,453,326	$	-
Equity securities		5,373,986		-		-
Mutual funds		3,605,513		-		-
Total	$	8,979,499	$	1,453,326	$	-

The stocks included in the portfolio as of September 28, 2014 were:

82,112	shares of AT&T	4,398	shares of CenturyLink
4,508	shares of Frontier Communications	412	shares of DexMedia
774	shares of Teradata	774	shares of NCR
40,000	shares of Sprint	31,904	shares of Verizon
6,471	shares of Vodafone	4,079	shares of Windstream
2,520	shares of Manulife

      The Mutual fund included in the table above is Vanguard GNMA Admiral Shares #536 fund. The fair value of certificates of deposits is estimated using present value techniques and comparing the values derived from those techniques to certificates with similar values.