Investments (Tables)

9 Months Ended

Jan. 31, 2016

Investments, Debt and Equity Securities [Abstract]

Schedule of carrying value and fair value of securities available-for-sale

The carrying value and fair value of securities available-for-sale at January 31, 2016 were as follows:

($ in thousands)	Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
ETFs - equities		4,625		122		(197	)		4,550
	$	4,625	$	122	$	(197	)	$	4,550

The carrying value and fair value of securities available-for-sale at April 30, 2015 were as follows:

($ in thousands)	Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Common stocks	$	101	$	74	$	-		$	175
ETFs - equities		3,903		1,508		-			5,411
Inverse ETFs - equities		5,466		-		(1,420	)		4,046
	$	9,470	$	1,582	$	(1,420	)	$	9,632

Schedule of income from securities transactions

	Three Months Ended January 31,						Nine Months Ended January 31,
($ in thousands)	2016			2015			2016			2015
Dividend income	$	31		$	42		$	111		$	119
Interest income		-			-			-			3
Capital gain distributions		105			57			105			57
Realized capital loss		-			-			(15	)		-
Other		(3	)		(3	)		14			24
Total income from securities transactions, net	$	133		$	96		$	215		$	203

Schedule of components of EAM's investment management operations

	Three Months Ended January 31,					Nine Months Ended January 31,
($ in thousands) (unaudited)	2016			2015		2016			2015
Investment management fees earned from the Value Line Funds, net of fee waivers	$	3,656		$	3,792	$	11,147		$	11,269
12b-1 fees and other fees, net of fee waivers	$	1,440		$	1,385	$	4,278		$	4,094
Other income (loss)	$	(57	)	$	4	$	(84	)	$	13
Investment management fee waivers (1)	$	48		$	57	$	143		$	147
12b-1 fee waivers (1)	$	235		$	378	$	848		$	1,147
Value Line’s non-voting revenues interest	$	1,825		$	1,862	$	5,546		$	5,498
EAM's net income (2)	$	188		$	324	$	710		$	994

(1) During fiscal 2016 investment management fee waivers primarily related to the Value Line Core Bond Fund and the 12b-1 fee waivers related to four of the Value Line Mutual Funds. During fiscal 2015 investment management fee waivers primarily related to the Value Line Core Bond Fund and the 12b-1 fee waivers related to six of the Value Line Mutual Funds.

(2) Represents EAM's net income, after giving effect to Value Line’s non-voting revenues interest, but before distributions to voting profits interest holders and to the Company in respect of its 50% non-voting profits interest.

Schedule of assets and liabilities

	January 31,			April 30,
($ in thousands)	2016			2015
	(unaudited)
EAM's total assets	$	60,259		$	60,159
EAM's total liabilities (1)		(3,039	)		(3,104	)
EAM's total equity	$	57,220		$	57,055

(1) At January 31, 2016 and April 30, 2015, EAM's total liabilities included a payable to VLI for its accrued non-voting revenues, interest and the 90% distributable share of its non-voting profits interest of $1,901,000 and $1,951,000, respectively.