| Schedule of fair value of assets and liabilities measured on a recurring basis |
The following table provides information on the assets and liabilities
measured at fair value as of August 31, 2014:
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|
|
|
|
|
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Quoted Prices in Active Markets for Identical Assets |
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|
Significant Other Observable Inputs |
|
|
Significant Unobservable Inputs |
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|
Total Unrealized Gains and |
|
| |
|
Fair Value |
|
|
Cost / Other Value |
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|
(Level 1) |
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|
(Level 2) |
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(Level 3) |
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|
(Losses) |
|
| Tap Participation Fee |
|
$ |
7,935,300 |
|
|
$ |
7,935,300 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
7,935,300 |
|
|
$ |
- |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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| Schedule of unobservable input reconciliation of fair value liabilities measured on a recurring basis |
Although
not required, the Company deems the following table, which presents the changes in the Tap Participation Fee for the year ended
August 31, 2014, to be helpful to the users of its financial statements:
| |
|
Gross
Estimated Tap Participation Fee Liability |
|
|
Tap
Participation Fee Reported Liability |
|
|
Discount
- to be imputed as interest expense in future periods |
|
| Balance
at September 1, 2013 |
|
$ |
102,681,900 |
|
|
$ |
59,807,300 |
|
|
$ |
42,874,600 |
|
| Total gains and
losses (realized and unrealized): |
|
|
|
|
|
|
|
|
|
|
|
|
| Imputed
interest recorded as "Other Expense" |
|
|
- |
|
|
|
1,445,500 |
|
|
|
(1,445,500 |
) |
| Purchases, sales,
issuances, payments, and settlements |
|
|
(90,643,600 |
) |
|
|
(53,317,500 |
) |
|
|
(37,326,100 |
) |
| Transfers
in and/or out of Level 3 |
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Balance
at August 31, 2014 |
|
$ |
12,038,300 |
|
|
$ |
7,935,300 |
|
|
$ |
4,103,000 |
|
|