Note 2 - Summary of significant accounting policies: Investments in securities, at fair value (Policies)
|12 Months Ended|
Dec. 31, 2019
|Investments in securities, at fair value||
Investments in securities, at fair value
Investment in securities consists of debt and equity securities reported at fair value. The Company adopted ASU 2016-01, Financial Instruments - Overall: Recognition and Measurement of Financial Assets and Financial Liabilities, effective January 1, 2018, which requires that any change in fair value is reported in net income. The adoption of the guidance resulted in the recognition of $34,822 of net after-tax unrealized gains on equity investments as a cumulative effect adjustment that decreased our retained deficit as of January 1, 2018, and decreased AOCI by the same amount. The Company elected to report changes in the fair value of equity investment in realized investment gains (losses), net.
Disclosure of accounting policy for the cost method of accounting for investments in common stock or other interests including unconsolidated subsidiaries, corporate joint ventures, noncontrolling interests in real estate ventures, limited partnerships, and limited liability companies. An entity also may describe how such investments are assessed for impairment.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef