Quarterly report pursuant to Section 13 or 15(d)

Short-term Investments and Marketable Securities

v2.4.0.8
Short-term Investments and Marketable Securities
 9 Months Ended
Aug. 31, 2013
Investments, Debt and Equity Securities [Abstract]  
SHORT-TERM INVESTMENTS AND MARKETABLE SECURITIES
SHORT-TERM INVESTMENTS AND MARKETABLE SECURITIES
Short-term investments and marketable securities, which consist of fully guaranteed bank certificates of deposit, stock and various corporate and government obligations, are stated at market value. The Company has classified its investments as Available-for-Sale securities and considers as current assets those investments which will mature or are likely to be sold within the ensuing twelve months. The cost and market values of the investments at August 31, 2013 and November 30, 2012 were as follows:
 
 
August 31, 2013
 
November 30, 2012
 
 
COST
 
MARKET
 
COST
 
MARKET
Current:
 
 
 
 
 
 
 
 
Corporate obligations
 
$
754,494

 
$
750,239

 
$
1,004,490

 
$
995,827

Limited partnership
 
223,373

 
331,400

 
223,373

 
292,680

Common stock
 
600,046

 
685,694

 
600,046

 
595,626

Fixed Income
 
403,000

 
402,936

 
400,000

 
399,639

Total Current
 
$
1,980,913

 
$
2,170,269

 
$
2,227,909

 
$
2,283,772


As of August 31, 2013, the Company had total unrealized gains on its investments of $189,356. This amount was reduced by a deferred tax expense of $69,879, of which a deferred tax expense of $49,263 was recorded in the current fiscal year and $20,616 was recorded in prior fiscal years. None of the unrealized losses have been deemed to be other-than-temporary impairments.
Bank certificates of deposit are insured by the Federal Deposit Insurance Corporation for the full balance under the Temporary Liquidity Guarantee Program. The Company maintains accounts with several brokerage firms. The accounts contain cash and securities. Balances are insured up to $500,000 (with a limit of $100,000 for cash) by the Securities Investor Protection Corporation (SIPC).