Quarterly report pursuant to Section 13 or 15(d)

NET GAIN ON TRADING SECURITIES

v3.23.1
NET GAIN ON TRADING SECURITIES
 3 Months Ended
Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]  
Net Gain on Trading Securities NET GAIN ON TRADING SECURITIES
Net gain on trading securities is comprised of:

Three Months Ended
December 31, 2021		 Three Months Ended
December 31, 2020
(Recast) (Recast)
Net gain recognized during the period on trading securities sold during the period $ 41,386  $ 6,571 
Net unrealized (loss)/gain recognized during the reporting period on trading securities still held at the reporting date (34,372) 7,401 
Net gain recognized during the period on trading securities $ 7,014  $ 13,972 

Nine Months Ended
December 31, 2021		 Nine Months Ended
December 31, 2020
(Recast) (Recast)
Net gain recognized during the period on trading securities sold during the period $ 189,783  $ 13,563 
Net unrealized (loss)/gain recognized during the reporting period on trading securities still held at the reporting date 5,487  5,680 
Net gain recognized during the period on trading securities $ 195,270  $ 19,243 

As of December 31, 2021, and March 31, 2021, the Company held in its proprietary trading portfolio shares SPBX at fair value of $7,182 and $18,371, respectively.

During the three months ended December 31, 2021, the Company exchanged approximately 1,000,000 shares of its stock of SPBX for units in the closed-end unit investment combined fund “SPB fund” (the “SPBX ETF”) and sold those SPBX
ETF units to approximately 490 investors through placement agents for net proceeds of $11,338. Additionally, during the three months ended December 31, 2021, the Company sold approximately 2,423,000 shares of SPBX to the market for net proceeds of $32,858. As a result, during the three months ended December 31, 2021, the Company recognized net gain on trading securities sold of $39,658, which included $36,079 of unrealized net gain recognized during previous periods that was reclassified to realized gain during the three months ended December 31, 2021.

During the nine months ended December 31, 2021, the Company exchanged approximately 12,500,000 shares of its stock of SPBX for units in the SPBX ETF. During the nine months ended December 31, 2021, the Company sold its SPBX ETF units to approximately 15,490 investors through placement agents for net proceeds of $167,011. Additionally, during the three months ended December 31, 2021, the Company sold approximately 2,423,000 shares of SPBX to the market for net proceeds of $32,858. As a result, during the nine months ended December 31, 2021, the Company recognized net gain on trading securities sold of $189,783, which included $177,146 of realized gain from the sale of the SPBX ETF and SPBX shares.