Note 2 - Investments

9 Months Ended

Mar. 31, 2019

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 and Treasury bills 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

March 31, 2019

and

July 1, 2018

were as follows:

March 31 , 201 9 Description	Fair Value		Cost basis		Unrealized Gain/ (loss)
Certificates of deposits and Treasury bills	$	630,720	$	630,720	$	-
Equity securities	$	4,965,174	$	1,279,914	$	3,685,260
Mutual fund	$	1,892,730	$	1,906,564	$	(13,834	)

Ju ly 1 , 201 8 Description	Fair Value		Cost basis		Unrealized Gain/ (loss)
Certificates of deposits	$	333,029	$	333,029	$	-
Equity securities	$	4,816,804	$	1,279,914	$	3,536,890
Mutual fund	$	1,824,846	$	1,864,296	$	(39,450	)

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

March 31 , 201 9 Description	Quoted Price for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Certificates of deposits and Treasury bills	$	-	$	630,720	$	-
Equity securities		4,965,174		-		-
Mutual fund		1,892,730		-		-
Total	$	6,857,904	$	630,720	$	-

Ju ly 1 , 201 8 Description	Quoted Price for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Certificates of deposits	$	-	$	333,029	$	-
Equity securities		4,816,804		-		-
Mutual fund		1,824,846		-		-
Total	$	6,641,650	$	333,029	$	-

The shares of common stock included in the equity securities portfolio as of

March 31, 2019

were:

AT&T shares	82,112
Manulife shares	2,520
Uniti Group shares (formerly CSAL)	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.