Investment Securities (Tables)

3 Months Ended

Mar. 31, 2016

Investments Debt And Equity Securities [Abstract]

Summary of Available for Sale Securities

The Company had no remaining available-for-sale securities as of March 31, 2016.

Available-for-Sale securities consisted of the following as of December 31, 2015:

	As of December 31, 2015
	Cost⁽¹⁾		Gains in Accumulated Other Comprehensive Income		Losses in Accumulated Other Comprehensive Income			Estimated Fair Value (Level 1 and 2 Inputs)
Debt Securities	$	843,951	$	—	$	(41,451	)	$	802,500
Total Debt Securities		843,951		-		(41,451	)		802,500
Common Stock		5,981,464		—		(1,080,197	)		4,901,267
Total Equity Securities		5,981,464		—		(1,080,197	)		4,901,267
Total Available-for-Sale Securities	$	6,825,415	$	-	$	(1,121,648	)	$	5,703,767

⁽¹⁾ The cost basis in the common stock investment is net of an other-than-temporary impairment charge of approximately $60,000 charged to earnings through investment income in the consolidated statements of operations.

Summary of Recognized Gain and Losses on Sale of Investment Securities

Following is a table reflecting the sale of investment securities and the gains or losses recognized during the three months ended March 31, 2016 and 2015:

	For the three months ended March 31,
	2016			2015
Proceeds from the Disposition of Debt Securities	$	827,738		$	—
Cost Basis of Debt Securities Sold		(843,951	)		—
Loss recognized in Statement of Operations on the Disposition of Debt Securities	$	(16,213	)	$	—
Proceeds from the Disposition of Equity Securities		5,424,624			834,964
Cost Basis of Equity Securities Sold		(5,983,978	)		(704,173	)
Gain (Loss) recognized in Statement of Operations on the Disposition of Equity Securities	$	(559,354	)	$	130,791
Total Gain (Loss) recognized in Statement of Operations on the Disposition of Debt and Equity Securities	$	(575,567	)	$	130,791

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

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- Definition

Tabular disclosure of the realized and unrealized gains and losses reported in the statement of income which have resulted from the sale and holding of marketable securities, respectively, as well as the sale or disposal of cost method investments. Such amounts would include realized gains and losses on the sale or disposal of trading, available-for-sale, and held-to-maturity securities, unrealized gains and losses on trading securities, unrealized gains and losses on available-for-sale and held-to-maturity securities transferred to the trading securities category, realized gains and losses on the sale or disposal of cost method investments, and losses recognized for other than temporary impairments (OTTI) of such investments.

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