NOTE 15 – NET GAIN ON TRADING SECURITIES

Net gain on trading securities is comprised of:

As of September 30, 2021, and March 31, 2021, the Company held in its proprietary trading portfolio shares of stock of SPBX at fair value of $50,083 and $18,408, respectively.

During the three months ended September 30, 2021, the Company exchanged approximately 11,500 shares of its stock of SPBX for units in the closed-end unit investment combined fund “SPB fund” (the “SPBX ETF”). In September 2021, the Company sold its SPBX ETF units to approximately 15,000 investors through placement agents for net proceeds of $155,673. As a result, during the three months ended September 30, 2021, the Company recognized gains on trading securities of $179,015, which included $141,067 of realized gain and $37,948 of net unrealized gain from revaluation of the SPBX shares the Company still held at September 30, 2021.