Note 2 - Investments

6 Months Ended

Jan. 01, 2017

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

January

1,

2017

and

July

3,

2016

were as follows:

January 1 , 201 7 Description	Fair Value		Cost basis		Unrealized Gain/ (loss)
Short-term investments	$	486,306	$	486,306	$	-
Equity securities	$	5,932,982	$	1,279,914	$	4,653,068
Mutual funds	$	2,786,128	$	2,763,538	$	22,590

Ju ly 3, 201 6 Description	Fair Value		Cost basis		Unrealized Gain (loss)
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:

January 1, 2017 Description	Quoted Price for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Certificates of deposits	$	-	$	486,306	$	-
Equity securities		5,932,982		-		-
Mutual funds		2,786,128		-		-
Total	$	8,719,110	$	486,306	$	-

July 3, 2016 Description	Quoted Price for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant 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 shares of common stock included in the equity securities portfolio as of

January

1,

2017

were:

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.