Marketable Securities and Investments

9 Months Ended

Mar. 31, 2016

Investments Debt And Equity Securities [Abstract]

Marketable Securities and Investments

Note 3. Marketable Securities and Investments

The following table summarizes the Company’s available-for sale securities on hand as of March 31, 2016 and June 30, 2015:

	CostBasis		Impairment Charge		AdjustedCost		Gross Unrealized Losses		Gross Unrealized Gains		FairValue
Marketable securities at March 31, 2016	$	69,850		69,850		—		—		—	$	-
Marketable securities at June 30, 2015	$	69,850		—		69,850		55,193		—	$	14,657

The marketable securities reflected in the table above includes stock purchase warrants of a single entity involved in the exploration of precious metals.  Each stock purchase warrant is exercisable for a common share of the entity.  The Company performs a quarterly assessment on its marketable securities with unrealized losses to determine if the security is other than temporarily impaired. Based on an evaluation by management, the Company determined that the severity of the impairment (approximately 95 percent less than cost), that the unrealized losses are other than temporary, as a result, an other than temporary impairment charge of $69,850 was recorded for the nine month period ended March 31, 2016 for securities with a cost basis of $69,850.