v3.22.2.2
FAIR VALUE MEASUREMENTS (Tables)
 12 Months Ended
Jun. 30, 2022
Fair Value Disclosures [Abstract]  
SCHEDULE OF FAIR VALUE, ASSETS MEASURED ON RECURRING BASIS

The carrying values of the Company’s financial instruments not required to be carried at fair value on a recurring basis approximate fair value due to their short maturities (i.e., accounts receivable, other assets, accounts payable and other liabilities, due to securities broker and obligations for securities sold) or the nature and terms of the obligation (i.e., other notes payable and mortgage notes payable).

 

The assets measured at fair value on a recurring basis are as follows:

 

As of June 30, 2022  Level 1 
Assets:     
Investment in marketable securities:     
Communication services  $355,000 
REITs and real estate companies   162,000 
Basic materials   18,000 
Utilities   5,000 
Technology   1,000 
Investment in marketable securities  $541,000 

 

  

As of June 30, 2021  Level 1 
Assets:     
Investment in marketable securities:     
Communication services  $1,334,000 
Basic materials   720,000 
Industrials   653,000 
REITs and real estate companies   438,000 
Energy   250,000 
Healthcare   141,000 
Investment in marketable securities  $3,536,000 
SCHEDULE OF FAIR VALUE, ASSETS MEASURED ON NONRECURRING BASIS

Financial assets that are measured at fair value on a non-recurring basis and are not included in the tables above include “Other investments in non-marketable securities,” that were initially measured at cost and have been written down to fair value as a result of impairment or adjusted to record the fair value of new instruments received (i.e., preferred shares) in exchange for old instruments (i.e., debt instruments). The following table shows the fair value hierarchy for these assets measured at fair value on a non-recurring basis as follows:

Assets  Level 3   June 30, 2022   Net loss for the
year ended June 30, 2022		 
             
Other non-marketable investments  $-   $-   $(20,000)

 

           Net loss for the 
Assets  Level 3   June 30, 2021   year ended June
30, 2021		 
             
Other non-marketable investments  $20,000   $20,000   $(38,000)