Marketable Securities

3 Months Ended

Mar. 31, 2014

Marketable Securities

Marketable Securities

(3) Marketable Securities

Our marketable securities as of March 31, 2014 include fixed income and equity investments classified as available for sale. At March 31, 2014, the fair value of the equity securities totaled $-0- and the fair value of the fixed income securities totaled $8,387,689. At December 31, 2013, the fair value of the equity securities totaled $1,390,355 and the fair value of the fixed income securities totaled $10,439,897. The gross proceeds from sales of our marketable securities during the three months ended March 31, 2014 and 2013 totaled $3,417,704 and $-0-, respectively. Unrealized gains on the investments included in the consolidated statements of comprehensive income were $468,937 and $-0- for the quarters ended March 31, 2014 and 2013, respectively. Our realized losses from the sale of marketable securities included in the consolidated statements of operations totaled $493,796 and $-0- for the quarters ended March 31, 2014 and 2013, respectively. The unrealized loss has been in that position for less than one year. Accordingly, management does not believe that the investments have experienced any losses other than temporary losses.