I put your numbers into a spreadsheet and compared them to what Winfield Capital reported at year end, 3/31. The spreadsheet didn't copy nicely into this message, but I hope you get the idea. The publicly traded portfolio is down about 25%, but the new IPO's show a nice $10,000,000 gain. Winfield Capital is down about $10,000,000 since 3/31, but they reported a $27 MM loss in the first quarter, so they could report about $17 MM or so profit this quarter.
You did not include Independence Brewing in the numbers. They are selling at .06/share, and the value was $ 3819 on 3/31.
Also, we don't yet know what new investments or sales WCAP has made.
Loans and Notes As of March 31,2000
Cost Value
As of 3/31/00 $6,708,130 $6,573,132
Repaid
Diversified Development $430,000 $430,000
Improved Drinking $2,000 $2,000 Water & Pool
Converted to Stock
e-Media $2,200,000 $2,200,000
Pseudo Programs $500,000 $500,000
Total $3,576,130 $3,441,132
Equity Interests
Registered and Publically Traded, 3/31 Shares Current Value
BLSW Bluestone Software $749,999 $2,059,391 57,170 $1,068,364
CMRC Commerce One $1,086,052 $51,148,408 690,146 $48,439,622
COOL Cyberian Outpost $2,719,970 $10,785,392 1,409,855 $5,991,884
EPRS Eprise $500,000 $1,403,736 127,323 $1,862,099
ESTM E-Stamp $1,341,698 $759,321 141,341 $212,012
HEAR HearMe $1,500,001 $5,164,779 227,273 $1,505,684
INSP InfoSpace.com $500,000 $3,171,392 50,128 $1,904,864
IBCO Independence Brewing $4,755 $3,819
JWEB Juno Online Services $1,646,661 $3,640,792 261,846 $1,464,701
PNVN PNV Inc. $815,801 $317,422 100,768 $113,364
ROWE Rowecom $1,499,997 $2,351,241 153,676 $782,787
IBUY Styleclick.com $516,236 $465,299 47,000 $499,375
Total Cost $12,881,170 Value, 3/31 $81,270,992
Value,9/15 $63,844,756
Unregistered 3/31, now Publically Traded
CPST Capstone Turbine $750,000 $750,000 112,500 $10,065,234
SCRM Screaming Media $470,400 $470,400 145,182 $1,451,820
SYNQ SynQuest $250,263 $250,263 40,300 $405,519
USWDA US Wireless Data $500,000 $500,000 333,333 $583,333
$1,970,663 $1,970,663 $12,505,906
Unregistered Equity 3/31
Bigfoot IMS $499,994 $499,994 52,631 Preferred A
Cool Zone $200,000 $200,000 40,000 Common
EoExchange $499,998 $499,998 233,644 Preferred D
etang.com $500,000 $500,000 60,000 Preferred B
HPA Monon $500,000 $500,000 625,000 Convertible
HQ Global Workplaces $0 $58,500 65,000 Common
Homepoint $725,036 $725,036 10,875 Preferred B
Internet Gift Registries $500,000 $500,000 50,000 Preferred B
MarketFirst Software $999,908 $999,908 938,881 Preferred D
myGeek.com $1,000,000 $1,000,000 287,969 Preferred A
NeoPlanet $750,000 $750,000 62,448 Preferred B
New York Restaurant $163,278 $163,278 16,920 Preferred A
Open Port Technology $1,000,000 $1,000,000 621,118 Preferred F
Open Solutions $2,620,000 $2,620,000 281,116 Preferred F
Petroleum Place $1,499,992 $1,499,992 25,372 Preferred C
Pseudo Programs $500,000 $500,000 462,963 Preferred D
TeraStor $500,000 $509,708 485,437 Preferred E
Vivid Semiconductor $1,650,000 $550,000 440,000 Preferred E
Vivid Semiconductor $250,003 $99,208 79,366 Preferred F-1
Total Cost $14,108,206 Value, 3/31 $13,076,414
Warrants, Convertibles, other units as of 3/31
Creative Foods $3,680 Warrant
Diversified Development Warrant
Dowling Residences $198,004 $198,004 Preferred Return Units
DRS Technologies $303,125 25,000 Warrant
Internet Gift Registries 60,000 Warrants
Portfolio Cost $35,866,173
Value, 3/31 $103,396,010
Value, 9/15 $92,868,208 |
