Quarterly report pursuant to Section 13 or 15(d)

INVESTMENTS

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INVESTMENTS
 6 Months Ended
Jun. 30, 2012
Investments, Debt and Equity Securities [Abstract]  
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]
4. INVESTMENTS

 

INVESTMENTS AT FAIR VALUE CONSIST OF THE FOLLOWING AT JUNE 30, 2012 AND DECEMBER 31, 2011.

 

    2012     2011  
             
Available-for-sale investments at fair value   $ 80,713     $ 318,353  
Trading securities     -       -  
Total   $ 80,713     $ 318,353  

 

AVAILABLE-FOR-SALE SECURITIES

 

Activity in our available-for-sale securities may be summarized as follows:

 

    2012     2011  
             
Cost at beginning of year   $ 263,331     $ 284,473  
Contributed to the Company by it's CEO     -       125,331  
Received as management fees     -       1,500  
Other than temporary loss in available-for-sale securities     -       (147,973 )
Cost at end of period     263,331       263,331  
Unrealized gain (loss)     (182,618 )     55,022  
Total   $ 80,713     $ 318,353  

 

Our available-for-sale securities consist of the following:

 

          Unrecognized           Realized     Loss  
          Holding     Fair     Holding     on  
    Cost     Gains (Losses)     Value     Loss     Sale  
June 30, 2012                                        
North Carolina Natural Energy *   $ 1,500     $ -     $ 1,500     $ -     $ -  
North American Energy     126,000       (105,000 )     21,000       -       -  
North American Energy *     10,500       (6,000 )     4,500       -       -  
North American Energy     125,331       (71,618 )     53,713       -       -  
    $ 263,331     $ (182,618 )   $ 80,713     $ -     $ -  
                                         
December 31, 2011                                        
Remodel Auction *   $ -     $ -     $ -     $ (900 )   $ -  
North Carolina Natural Energy *     1,500       -       1,500       -       -  
North American Energy     126,000       (42,000 )     84,000       -       -  
North American Energy *     10,500       7,500       18,000       -       -  
North American Energy     125,331       89,522       214,853       -       -  
Efftec International, Inc. *     -       -       -       (22,500 )     -  
HiTech Stages     -       -       -       (124,573 )     -  
    $ 263,331     $ 55,022     $ 318,353     $ (147,973 )   $ -  
                                         
* Investments acquired in exchange for management services.