Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.5.0.2
Summary of Significant Accounting Policies (Tables)
9 Months Ended
Sep. 30, 2016
Accounting Policies [Abstract]  
Schedule of Fair Value on Recurring Basis of Assets

The following table presents certain assets of the Company’s measured and recorded at fair value on the Company’s balance sheet on a recurring basis and their level within the fair value hierarchy as of September 30, 2016.

 

    Total     (Level 1)     (Level 2)     (Level 3)  
Fair-value – equity securities   $ 717,000     $ 2,000     $ -     $ 715,000  
Total Assets measured at fair value   $ 717,000     $ 2,000     $ -     $ 715,000  

 

The following table presents certain assets of the Company’s measured and recorded at fair value on the Company’s balance sheet on a recurring basis and their level within the fair value hierarchy as of December 31, 2015.

 

    Total     (Level 1)     (Level 2)     (Level 3)  
Fair-value – equity securities   $ 500     $ -     $ -     $ 500  
Total Assets measured at fair value   $ 500     $ -     $ -     $ 500  

Schedule of Reconciliation of Level 3 Assets

The following is a reconciliation of the level 3 Assets:

 

Beginning Balance as of January 1, 2016   $ 500  
         
Unrealized gain on (level 3) September 30, 2016     714,500  
         
Ending Balance as of September 30, 2016   $ 715,000