Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements

v3.5.0.2
Fair Value Measurements
6 Months Ended
Jun. 30, 2016
Fair Value Disclosures [Abstract]  
Fair Value Measurements

6. FAIR VALUE MEASUREMENTS

GAAP establishes a valuation hierarchy for disclosure of the inputs to valuation used to measure fair value. This hierarchy prioritizes the inputs into three broad levels as follows. Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 inputs are quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration. Level 3 inputs are unobservable inputs based on our own assumptions used to measure assets and liabilities at fair value. A financial asset or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement.

The following table provides the assets and liabilities carried at fair value measured on a recurring basis as of June 30, 2016 and December 31, 2015:

 

June 30, 2016

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Investment in securities

 

$

4,347,513

 

 

$

 

 

$

 

 

$

4,347,513

 

Total assets at fair value

 

$

4,347,513

 

 

$

 

 

$

 

 

$

4,347,513

 

 

December 31, 2015

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Investments, at value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Wholly owned subsidiaries

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Self storage facilities

 

$

 

 

$

 

 

$

34,600,000

 

 

$

34,600,000

 

Other

 

 

 

 

 

 

 

 

24,573

 

 

 

24,573

 

Common stocks

 

 

3,106,050

 

 

 

 

 

 

 

 

 

3,106,050

 

Preferred stocks

 

 

1,176,750

 

 

 

 

 

 

 

 

 

1,176,750

 

Other

 

 

 

 

 

 

 

 

 

 

 

 

Short term investments

 

 

3,526,337

 

 

 

 

 

 

 

 

 

3,526,337

 

Total assets at fair value

 

$

7,809,137

 

 

$

 

 

$

34,624,573

 

 

$

42,433,710