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TRADING SECURITIES
3 Months Ended
Mar. 31, 2014
Trading Securities [Abstract]  
TRADING SECURITIES

On September 18, 2013, the Company received 1,230,769 shares of freely tradable equity securities with a fair value of $3,495,384 (based upon the closing price on the day prior to closing) in connection with the sale of Series B Preferred Stock. The Company’s investments in trading securities are comprised of a single investment in a publicly traded stock and through March 31, 2014, the Company has cumulatively recorded an unrealized loss related to that stock’s decline in value of $94,404. In addition, during the three months ended March 31, 2014, the Company received cash proceeds of $416,554 and recorded $183,598 in realized losses upon the sale of a portion of these securities.  As at March 31, 2014, the Company has shares with a fair value of $176,413 in trading securities included in its condensed consolidated balance sheet.

 

During the year ended December 31, 2013, the Company received cash proceeds of $1,806,050 and recorded $818,365 in realized losses upon the sale of these securities.  As at December 31, 2013, the Company has shares with a fair value of $634,826 in trading securities included in its consolidated balance sheet.