Note 2 - Investments

3 Months Ended

Oct. 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

October 1, 2017

and

July 2, 2017

were as follows:

Octo b er 1 , 201 7 Description	Fair Value		Cost basis		Unrealized Gain
Short-term investments	$	133,880	$	133,880	$	-
Equity securities	$	5,508,392	$	1,279,914	$	4,228,478
Mutual funds	$	1,837,820	$	1,824,554	$	13,266
Ju ly 2 , 201 7 Description	Fair Value		Cost basis		Unrealized Gain
Short-term investments	$	133,922	$	133,922	$	-
Equity securities	$	5,272,318	$	1,279,914	$	3,992,404
Mutual funds	$	2,817,392	$	2,800,144	$	17,248

The fair values of the Company

’s investments were determined as follows:

Octo b er 1 , 201 7 Description	Quoted Price for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Certificates of deposit s	$	-	$	133,880	$	-
Equity securities		5,508,392		-		-
Mutual funds		1,837,820		-		-
Total	$	7,346,212	$	133,880	$	-
Ju ly 2 , 201 7 Description	Quoted Price for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Certificates of deposit s	$	-	$	133,922	$	-
Equity securities		5,272,318		-		-
Mutual funds		2,817,392		-		-
Total	$	8,089,710	$	133,922	$	-

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	300
Sprint shares	40,000
Verizon shares	31,904
Windstream shares	679

   

On

July 10, 2017,

Frontier Communications completed a

1

-for-

15

reverse stock split reducing Bowl America’s holdings to

300

shares from

4,508.

On

August 1, 2016

Dex Media completed a financial restructuring. 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.