.....das bei NASDAQ minus 3 % !
Hängt wohl mit der Abkündigung eines Aktienrückkaufs zusammen, nachdem
das Management wohl entdeckt hat, dass "ihre"Aktie z.Zt. unterbewertet ist.
Frühere Bewertung 3-4 x dem NAV (ca.-Wert der Beteiligungen), heute 1:1. Das gestern veröffentlichte NAV liegt unter meiner Schätzung von letzter Woche, wobei HHGP selbst recht vorsichtig bewertet, bei 4,64, also trotzdem 20 % über dem NAV vom 30.06.00. Kurs gestern auch unter 5,-- ! Da muss man einfach Aktien zurückkaufen:
Thursday October 12, 12:41 pm Eastern Time
Press Release
Harris & Harris Group Reports September 30, 2000
NAV of $4.64, Increases Liquidity and Authorizes
Share Repurchase Program
NEW YORK--(BUSINESS WIRE)--Harris & Harris Group, Inc. reported today that its
net asset value per share (NAV) as of September 30, 2000 was $4.64.
The most significant contribution to the change in NAV during the quarter was the initial public offering (IPO) of Genomica
Corp. (Nasdaq: GNOM - news), in which Harris & Harris Group owns 731,111 shares.
Primary liquidity (defined as cash and equivalents and receivables) increased during the quarter from $8,039,791 to
$13,499,123. Secondary liquidity (defined as freely marketable securities net of appropriate discounts) decreased from
$18,648,240 to $15,556,531. Tertiary liquidity (defined as restricted securities of publicly traded companies net of appropriate
discounts) increased from $0 to $11,173,375. Since the quarter ended, primary liquidity has increased to approximately
$16,569,884 currently, reflecting the sale in the open market of an additional 250,000 shares of Alliance Pharmaceutical Corp.
(Nasdaq: ALLP - news) for $3,785,477 and the purchase in the open market of 28,000 shares of SciQuest.com, Inc.
(Nasdaq: SQST - news), in which the Company had originally owned as a result of private placements a total of 461,039
shares which it had subsequently sold in the open market for a total of $8,257,377. Prior to September 30, 2000, the
Company had purchased in the open market 222,000 shares of SciQuest.com and currently holds a total of 250,000 shares for
which it paid $1,814,327. The Company's holdings continue to include 50,000 shares of Alliance Pharmaceutical.
The Board of Directors of Harris & Harris Group authorized a repurchase program in the open market of up to $2 million
worth of the Company's Common Stock, at the discretion of management. In 1998 and 1999, the Company repurchased a
total of 1,482,447 shares of its Common Stock through a combination of open market repurchases and a tender offer.
SUMMARY OF FINANCIAL RESULTS
Sept. 30, June 30, December 31, Sept. 30,
2000 2000 1999 1999
(Unaudited) (Unaudited) (Audited) (Unaudited)
Total Assets $55,663,252 $44,815,295 $65,320,768 $28,396,294
Net Assets $42,921,075 $35,863,725 $53,634,805 $23,474,023
Accrued Profit
Sharing $6,108,434 $4,293,344 $9,434,467 $2,747,383
Total Income
Tax Liability $5,474,091 $4,036,883 $1,517,774 $1,705,509
Net Asset Value
per Share $4.64 $3.88 $5.80 $2.54
Shares Outstanding 9,240,831 9,240,831 9,240,831 9,240,831
Dividends Paid
During Quarter $0 $0 $0 $0
Harris & Harris Group is a Business Development Company with 9,240,831 common shares issued and outstanding. Detailed
information about Harris & Harris Group and its holdings can be found on its website at www.hhgp.com.
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