Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

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Consolidated Statements of Cash Flows (Unaudited) (USD $)
 6 Months Ended
Jun. 30, 2013
May 31, 2012
Net Income $ 3,220,252 $ 7,723,801
Net Income (Loss) 3,220,252 7,723,801
Adjustments to reconcile net income to net cash provided by operating activities:    
Distributions received from investment securities 0 2,243,539
Deferred Income Taxes and Tax Credits 395,050 4,646,076
Depreciation 5,714,448 493,633
Amortization 433,386 77,540
Realized and unrealized (gain) loss on trading securities (316,063) 737,810
Realized and unrealized gain on other equity securities (2,395,010) (12,906,601)
Changes in assets and liabilities:    
Increase in accounts receivable (352,037) (207,221)
(Increase) decrease in prepaid expenses and other assets 31,321 (791,312)
Decrease in accounts payable and other accrued liabilities (1,217,791) (247,054)
increase (decrease) in dividends payable 3,018,495 0
increase in distributions to non controlling interest 1,690,413 0
Increase (Decrease) in Fair Value of Derivative Instruments, Not Designated as Hedging Instruments 64,123 0
Decrease in current income tax liability (3,855,947) 0
Decrease in unearned revenue (1,422,457) 0
Net cash provided by operating activities 5,008,183 1,770,211
Investing Activities    
Proceeds from sale of long-term investment of trading and other equity securities 5,563,865 0
Deferred lease costs (5,620) 0
Purchases of property and equipment (42,242) (30,321)
Proceeds from Sale of Property, Plant, and Equipment 0 3,076
Return of capital on distributions received 631,524 0
Net cash provided by (used in) investing activities 6,147,527 (27,245)
Financing Activities    
Payments on lease obligation (20,698) (39,590)
Debt financing costs (10,999) (1,283,000)
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge (17,895) 0
Dividends (6,036,078) (975,062)
Payments of Ordinary Dividends, Noncontrolling Interest (1,690,413) 0
Advances on revolving line of credit 139,397 1,045,000
Payments on revolving line of credit (139,397) (205,000)
Dividend reinvestment 49,141 0
Net cash used in financing activities (7,726,942) (1,457,652)
Net Change in Cash and Cash Equivalents 3,428,768 285,314
Cash and Cash Equivalents at beginning of period 17,680,783 2,793,326
Cash and Cash Equivalents at end of period 21,109,551 3,078,640
Supplemental Disclosure of Cash Flow Information    
Interest paid 1,242,441 142,584
Income taxes paid 4,776,354 96,000
Deferred income tax, net $ 395,050 $ 4,646,076