Portfolio Update:
I reviewed the SI public portfolio and am making a couple changes. A link to the portfolio is in the original post at the top of this thread.
DCLK. The cost basis of DCLK, which was incorrect, is adjusted as follows: $22,043,000 (original investment in NetGravity) / 773,512 (number of DCLK shares received for interest in NetGravity) = $28.50 per share
HYBR. Shares of HYBR are added. LDP owned convertible debentures of HYBR (Hybrid Networks) per management's statement in the 1999 annual report. An assumption is made that these were converted to common per this HYBR press release:
siliconinvestor.com
The exact ownership of LDP was not set forth in the annual report, so absent other information an assumption is made that there was an equal division among the VC investors:
3,412,930 shares divided equally among 3 venture capital firms = 1,137,643 per firm.
So, 1,137,643 shares of HYBR are added to the portfolio. The cost basis for these is assumed to be $2.85 per share. That was the conversion price for the convertible debentures set forth in an SEC filing of HYBR.
NUFO. Two categories of NUFO are created to easily discern the taxable and non-taxable capital gains.
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Other misc. notes:
CNSW ownership is via convertible debentures.
The RAMP shares remain unchanged despite the discrepancy I have seen elsewhere. The number of RAMP used in the portfolio is the number from the 13G filed in Feb. 2000.
The VTSS escrow shares are included in the portfolio as a separate VTSS holding.
The GSPN numbers are based on conservative assumptions regarding the iCompression acquisition and more likely than not underestimate LDP's actual ownership.
HYBR is based on assumed facts.
EXTN, PKTR, SABA, and 3 million shares of NUFO are not subject to capital gains tax.
We don't know if any shares have recently been sold, and if sold, how the sale proceeds were used.
Comments welcome.
Have a good weekend. |
