HELD FOR TRADING SECURITIES	9 Months Ended
Sep. 30, 2023
Held For Trading Securities
HELD FOR TRADING SECURITIES	NOTE 5. HELD FOR TRADING SECURITIES We measure all equity investments that do not result in consolidation and are not accounted for under the equity method at fair value with the change in fair value included in net income. When equity investments are sold, the change in fair value will become a gain or loss realized on disposition of asset. We use quoted market prices to determine the fair value of equity securities with readily determinable fair values. As discussed in Note 4, on February 16, 2022, PCC entered into a Purchase and Sale Agreement and Debt Settlement Agreement with Prospera. In January of 2023, the Company converted $210,000 (CAD) ($157,315 USD using prevailing rates at that date) of our debenture from Prospera into shares of Prospera Common stock at a conversion rate of $0.05 (CAD) per share. In late March of 2023, the Company converted $300,000 (CAD) ($223,248 USD using prevailing rates at that date) of the debenture from Prospera into shares of Prospera common stock at a conversion rate of $0.05 (CAD) per share. The conversion was completed in early April of 2023. As of September 30, 2023, there are 4,200,000 shares remaining. They are valued at the market price of $0.11 (CAD) per share, for a market value of $462,000 CAD, which translates to $341,716 USD. Realized gains are calculated by determining the difference between the sale price and the original basis of $0.05 CAD per share. Unrealized gains are calculated as the difference between the remaining shares at current value versus the basis of $0.05 CAD per share.

HELD FOR TRADING SECURITIES

9 Months Ended

Sep. 30, 2023

NOTE 5. HELD FOR TRADING SECURITIES

We measure all equity investments that do not result in consolidation and are not accounted for under the equity method at fair value with the change in fair value included in net income. When equity investments are sold, the change in fair value will become a gain or loss realized on disposition of asset. We use quoted market prices to determine the fair value of equity securities with readily determinable fair values.

As discussed in Note 4, on February 16, 2022, PCC entered into a Purchase and Sale Agreement and Debt Settlement Agreement with Prospera. In January of 2023, the Company converted $210,000 (CAD) ($157,315 USD using prevailing rates at that date) of our debenture from Prospera into shares of Prospera Common stock at a conversion rate of $0.05 (CAD) per share. In late March of 2023, the Company converted $300,000 (CAD) ($223,248 USD using prevailing rates at that date) of the debenture from Prospera into shares of Prospera common stock at a conversion rate of $0.05 (CAD) per share. The conversion was completed in early April of 2023. As of September 30, 2023, there are 4,200,000 shares remaining. They are valued at the market price of $0.11 (CAD) per share, for a market value of $462,000 CAD, which translates to $341,716 USD. Realized gains are calculated by determining the difference between the sale price and the original basis of $0.05 CAD per share. Unrealized gains are calculated as the difference between the remaining shares at current value versus the basis of $0.05 CAD per share.

Petrolia Energy Corp 10-Q