Note 2 - Investments

3 Months Ended

Sep. 30, 2018

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 current assets. Short-term investments consist of certificates of deposits and treasury bills with maturities of generally

three

months to

one

year. Equity securities consist primarily of telecommunications stocks and a mutual fund that invests in federal agency mortgage backed securities (Ginnie Mae). The fair value of the Company’s investments at

September 30, 2018

and

July 1, 2018

were as follows:

September 30 , 201 8 Description	Fair Value		Cost basis		Unrealized Gain (Loss)
Short-term investments	$	233,907	$	233,907	$	-
Equity securities	$	5,071,199	$	1,279,914	$	3,791,285
Mutual funds	$	1,822,245	$	1,877,811	$	(55,566	)
Ju ly 1 , 201 8 Description	Fair Value		Cost basis		Unrealized Gain
Short-term investments	$	333,029	$	333,029	$	-
Equity securities	$	4,816,804	$	1,279,914	$	3,536,890
Mutual funds	$	1,824,846	$	1,864,296	$	(39,450	)

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

September 30 , 2018			Significant
Description	Quoted Price for Identical Assets (Level 1)		Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Certificates of deposits and Treasury Bills	$	-	$	233,907	$	-
Equity securities		5,071,199		-		-
Mutual funds		1,822,245		-		-
Total	$	6,893,444	$	233,907	$	-
Ju ly 1 , 201 8			Significant
Description	Quoted Price for Identical Assets (Level 1)		Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Certificates of deposits	$	-	$	333,029	$	-
Equity securities		4,816,804		-		-
Mutual funds		1,824,846		-		-
Total	$	6,641,650	$	333,029	$	-

The equity securities portfolio includes the following stocks:

AT&T shares	82,112
Manulife shares	2,520
Uniti 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	135

     On

May 25, 2018,

Windstream completed a

1

-for-

5

reverse split reducing Bowl America’s holdings to

135

shares. 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.

 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.