NOTE 9 – RESTRICTED CASH

As of June 30, 2015, the Company is required to maintain certain cash balances with counterparties for broker activity and collateral for the Company's repurchase agreements in non-interest bearing accounts.

The following table presents the Company's restricted cash balances as of June 30, 2015 and December 31, 2014:

	June 30, 2015		December 31, 2014
Restricted cash balance held by:
Broker counterparties for derivatives trading	$	7,029,075	$	5,104,532
Repurchase counterparties as restricted collateral		7,156,580		6,296,111
Total	$	14,185,655	$	11,400,643