If like the company has suggested in last quarter's report, we are very likely to see one IPO in 12 months and a few IPOs(say three) in 24 months, how much would that add to TINY's net value?
TINY is currently holding 35 high-tech and fast growing companies.
The majority of these company are growing fast.
Total revenues have increased 25.5% in 2012 and almost 100% increase comparing with 2009!!!
TINY was trading above $23 in 2004 and I don't know what happened after that.
Maybe the wall street is out of patience of waiting for the IPOs?
The intensive insider purchase from the officers might be a good sign that this company might be going through a re-evaluation process. Don't forget the net value is calculated by the CEO and the management.
Below is a paragraph from the letter to the shareholders from the company recently:
Third, our existing portfolio is generating a tremendous amount of excitement. We currently have 24 companies in our equity-focused venture capital portfolio that generate revenue. In aggregate, our portfolio companies had approximately $532 million in revenue in 2012, a 25.5 percent increase from aggregate 2011 revenue of approximately $424 million, a 39.9 percent increase from aggregate 2010 revenue of approximately $380 million and a 99.1 percent increase from aggregate 2009 revenue of approximately $267 million.
this is what happened (a partial list)
1. the original CEO died from cancer. The company was taken over by his helpers, who care more about their regular bonuses with no ties to stock performance whatsoever.
2. the highly proclaimed cooperation with the Russian state nano-tech initiative became a big flop
3. TINY skipped participation in secondary offerings with companies that eventually had nice exits via IPO or acquisition. As the result of this original TINY investments were highly diluted and realized gains were barely enough to cover board's bonuses. None was left for the shareholders.
4. TINY had sunk too much money into losers
5. TINY's venture into the stock market trading sucks even with the market up by over 100% since their original decision to trade public funds of other companies
6. TINY's investments into companies are too small to have any say with how those companies operate
7. TINY's letters to the shareholders are vaporware, they blame the environment, instead of finding ways to control the environment like the winners do.
"Maybe the wall street is out of patience of waiting for the IPOs?" It's worse than that. The few IPOs that have happened with TINY investments have not resulted in much money for TINY. They are always promising IPOs over the next x months, but they are not making anything meaningful from the ones that do occur.
I was an early investor and still have a token interest...
All i've seen is similar promises and touting all along.
The original founders have long since fled
and i don't take management seriously...
but i lost serious money.
I'm long here and have been for (too?) many years. I'm writing to challenge your assumption that IPO news will cause significant upward movement in the stock price, given that ordinary shareholders have not benefited at all from previous IPOs. I hope I'm wrong. Convince me, please!