Attached files

file filename
XML - IDEA: XBRL DOCUMENT - Mindesta Inc.R14.htm
10-K - FORM 10-K - Mindesta Inc.form10k.htm
XML - IDEA: XBRL DOCUMENT - Mindesta Inc.R20.htm
XML - IDEA: XBRL DOCUMENT - Mindesta Inc.R38.htm
XML - IDEA: XBRL DOCUMENT - Mindesta Inc.R27.htm
XML - IDEA: XBRL DOCUMENT - Mindesta Inc.R10.htm
XML - IDEA: XBRL DOCUMENT - Mindesta Inc.R5.htm
XML - IDEA: XBRL DOCUMENT - Mindesta Inc.R26.htm
XML - IDEA: XBRL DOCUMENT - Mindesta Inc.R21.htm
XML - IDEA: XBRL DOCUMENT - Mindesta Inc.R34.htm
XML - IDEA: XBRL DOCUMENT - Mindesta Inc.R16.htm
XML - IDEA: XBRL DOCUMENT - Mindesta Inc.R13.htm
XML - IDEA: XBRL DOCUMENT - Mindesta Inc.R15.htm
XML - IDEA: XBRL DOCUMENT - Mindesta Inc.R19.htm
XML - IDEA: XBRL DOCUMENT - Mindesta Inc.R23.htm
XML - IDEA: XBRL DOCUMENT - Mindesta Inc.R11.htm
XML - IDEA: XBRL DOCUMENT - Mindesta Inc.R12.htm
XML - IDEA: XBRL DOCUMENT - Mindesta Inc.R4.htm
XML - IDEA: XBRL DOCUMENT - Mindesta Inc.R18.htm
XML - IDEA: XBRL DOCUMENT - Mindesta Inc.R1.htm
XML - IDEA: XBRL DOCUMENT - Mindesta Inc.R17.htm
XML - IDEA: XBRL DOCUMENT - Mindesta Inc.R3.htm
XML - IDEA: XBRL DOCUMENT - Mindesta Inc.R7.htm
XML - IDEA: XBRL DOCUMENT - Mindesta Inc.R24.htm
XML - IDEA: XBRL DOCUMENT - Mindesta Inc.R36.htm
XML - IDEA: XBRL DOCUMENT - Mindesta Inc.R22.htm
XML - IDEA: XBRL DOCUMENT - Mindesta Inc.R35.htm
XML - IDEA: XBRL DOCUMENT - Mindesta Inc.R6.htm
XML - IDEA: XBRL DOCUMENT - Mindesta Inc.R2.htm
XML - IDEA: XBRL DOCUMENT - Mindesta Inc.R32.htm
XML - IDEA: XBRL DOCUMENT - Mindesta Inc.R8.htm
XML - IDEA: XBRL DOCUMENT - Mindesta Inc.R31.htm
XML - IDEA: XBRL DOCUMENT - Mindesta Inc.R30.htm
XML - IDEA: XBRL DOCUMENT - Mindesta Inc.R28.htm
XML - IDEA: XBRL DOCUMENT - Mindesta Inc.R29.htm
EXCEL - IDEA: XBRL DOCUMENT - Mindesta Inc.Financial_Report.xls
XML - IDEA: XBRL DOCUMENT - Mindesta Inc.R37.htm
XML - IDEA: XBRL DOCUMENT - Mindesta Inc.R25.htm
XML - IDEA: XBRL DOCUMENT - Mindesta Inc.R33.htm
XML - IDEA: XBRL DOCUMENT - Mindesta Inc.R39.htm
EX-31.2 - EXHIBIT 31.2 - Mindesta Inc.exhibit31-2.htm
EX-31.1 - EXHIBIT 31.1 - Mindesta Inc.exhibit31-1.htm
v2.4.0.8
MARKETABLE SECURITIES AND INVESTMENT IN NON-CONSOLIDATED AFFILIATE
12 Months Ended
Dec. 31, 2013
MARKETABLE SECURITIES AND INVESTMENT IN NON-CONSOLIDATED AFFILIATE [Text Block]

NOTE 3 – MARKETABLE SECURITIES AND INVESTMENT IN NON-CONSOLIDATED AFFILIATE

On January 7, 2011, the Company sold 2,000,000 common shares of Northern for CDN $0.50 per share and realized total proceeds of CDN$1,000,000. Due to the reduction in the Company’s interest in Northern arising from this transaction, the results of Northern are no longer consolidated. The Company recognized a gain on deconsolidation of $6,035,839, of which $5,835,457 related to the remeasurement of the Company’s retained investment in the former subsidiary to its fair value. Subsequent to deconsolidation Northern remains a related party by way of directors and officers in common.

As at December 31, 2011, the Company owned 9,750,000 common shares of Northern which represented a 26.1% interest. The estimated fair value of this investment at December 31, 2011 was $8,872,500 based on the quoted trading price of these shares on the Toronto Stock Exchange. As at December 31, 2011, the Company recorded its investment in Northern, a non-consolidated affiliate, at cost.

The carrying value of this investment is as follows:

Investment   $  
Non-consolidated balance at December 31, 2011   3,432,261  
Stock dividend paid on January 25, 2012   (3,313,675 )
Sale of marketable securities   (65,223 )
Balance at carrying value as at December 31, 2012   53,363  
Sale of marketable securities   (53,363 )
Balance at carrying value as at December 31, 2013   -  

Following the payment of the stock dividend on January 25, 2012, the Company’s investment in Northern was reclassified as an available-for-sale security and is reflected as marketable securities in the current asset section of the Balance Sheet. The following table summarizes the Company’s available-for sale securities as of December 31, 2012:

Equity securities   Cost     Gross unrealized gains     Fair value  
Outstanding   53,363     110,969     164,332  

During the year ended December 31, 2013, the Company sold all remaining shares of Northern and reclassified all unrealized gains and losses related to its investment in Northern from other comprehensive income to gain on sale of marketable securities, recognizing a net gain on sale of marketable securities of $24,318 (December 31, 2012 - $197,872).