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Gold/Mining/Energy : T.ITE: iTech Capital (TSE)

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To: Michael Brandon who wrote (4728)7/4/2000 8:14:22 PM
From: Dan Hamilton   of 5053
 
I agree it is difficult to assess value at this point since the companies are not publicly traded. But it is generally accepted that you cannot assume a value for each holding that is greater than what the original investment was, until there has been an IPO or another round of financing done. So for example if an initial investment was done at say $1.00 per share and another round was done six months later at $2.00 per share (whether or not ITE participated), then you can justifiably say the original investment has doubled in value. Similarly, if another round was done at a lesser price (it happens), then you would reduce the value of the investment accordingly.

So the best way to reckon the share price conservatively is to total up the current value of all holdings, discount by 25% and divide by the number of shares. I don't have all the information at my disposal to do so though. If anyone else does, we could do the math.
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