Annual report pursuant to Section 13 and 15(d)

Investment Securities

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Investment Securities
12 Months Ended
Jul. 31, 2018
Schedule of Investments [Abstract]  
Investment Securities

Note 4—Investment Securities

 

The amortized cost, gross unrealized gains and losses, and fair value of securities held to maturity are as follows as of July 31, 2018:

 

Description   Amortized Cost     Gross Unrealized Gain/(Loss)     Fair Value  
Investment securities                        
U.S. treasury securities with maturities of one year or less   $ 23,174,447     $ (20,212 )   $ 23,154,235  
Total   $ 23,174,447     $ (20,212 )   $ 23,154,235  

 

The fair values of held to maturity securities, excluding U.S. treasury securities, were obtained using an independent third-party financial institution. Management made no adjustments to the fair value quotes that were provided by the third-party financial institution. The fair values of U.S. treasury securities were determined using quoted, active market prices for identical securities.