Note 2 - Investments

3 Months Ended

Oct. 02, 2016

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 October 2, 2016 and July 3, 2016 were as follows:

Octob er 2 , 201 6 Description	Fair Value		Cost basis		Unrealized Gain
Short-term investments	$	485,452	$	485,452	$	-
Equity securities	$	5,703,049	$	1,279,914	$	4,423,135
Mutual funds	$	2,837,679	$	2,728,910	$	108,769

Ju ly 3 , 201 6 Description	Fair Value		Cost basis		Unrealized Gain
Short-term investments	$	484,558	$	484,558	$	-
Equity securities	$	6,001,841	$	1,285,759	$	4,716,082
Mutual funds	$	2,822,615	$	2,713,860	$	108,755

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

October 2, 2016 Description	Quoted Price for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Certificates of deposits	$	-	$	485,452	$	-
Equity securities		5,703,049		-		-
Mutual funds		2,837,679		-		-
Total	$	8,540,728	$	485,452	$	-

July 3, 2016 Description	Quoted Price for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significan t Unobservable Inputs (Level 3)
Certificates of deposits	$	-	$	484,558	$	-
Equity securities		6,001,841		-		-
Mutual funds		2,822,615		-		-
Total	$	8,824,456	$	484,558	$	-

The equity securities portfolio includes the following stocks:

AT&T shares	82,112
Manulife shares	2,520
CSAL shares	815
NCR shares	774
Teradata shares	774
Vodafone shares	6,471
CenturyLink shares	4,398
Frontier Communications shares	4,508
Sprint shares	40,000
Verizon shares	31,904
Windstream shares	679

     On August 1, 2016, Dex Media, a spin off from Verizon, completed a financial restructure. Previous shares of Dex Media’s common stock were cancelled with no distribution to shareholders resulting in a loss of $5,845 on the Company’s holdings.

     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.