Marketable Securities

9 Months Ended

Sep. 30, 2014

Marketable Securities

Marketable Securities

(3) Marketable Securities

Our marketable securities as of September 30, 2014 include fixed income and equity investments classified as available for sale. At September 30, 2014, the fair value of the equity securities totaled $0  and the fair value of the fixed income securities totaled $5.3 million. 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 were $4.6 million and $10.5 million for the three and nine months ended September 30, 2014, respectively, and $-0- for three and nine months ended September 30, 2013. Unrealized gain on the investments for the three and nine months ended September 30, 2014 was $(219,000) and $434,000, respectively. These amounts were included in the consolidated statements of comprehensive income. The Company realized gains (losses) from the sale of marketable securities included in the consolidated statements of operations were $108,131 and $(443,954) for the three and nine months ended September 30, 2014, respectively, and realized gains of $348,716 for the three and nine months ended September 30, 2013.