Note the totally disingenuous, misleading and wholly farcical repeated use of the word "success" to describe a stock price that as been in the proverbial toilet for several years running. Also, anyone who has closely followed this woefully malperforming company understands that the oft-cited NAV is no more than a cooked or fabricated number. Too, one has to wonder which individuals TINY company officials believe are 'buying' such obviously vacuous rhetoric.
"Douglas W. Jamison - Chairman, CEO & Mgt Dir. & Chairman of Exec. Comm.
This is Doug. Welcome to our call reporting on the second quarter of 2013. Patty Egan, our CFO; and Daniel Wolfe, our President and Chief Operating Officer, are joining me on the call today.Harris & Harris Group is an early-stage active investor in transformative companies. We invest in early-stage companies because we believe company-building is the best way to deliver outsized returns regardless of the market conditions, so-called alpha in the finance filings. Our team has the right expertise for this early-stage company-building, and we have been successful where others have faltered over the past decade. Most importantly, we believe we now have the portfolio and a position where our success can be meaningful to NAV growth as we experience greater success over the coming years.There are few experienced investors involved in deep science innovation that has been the cornerstone to our success. Astronaut Buzz Aldrin has been attributed with the quote, "You promised me Mars colonies. Instead, I got Facebook." We build companies that solve big problems. We believe venture capital has reached the nadir on its cyclicality, and the next decade is going to be a good climate for building these types of companies, especially since there's now less competition.The first half of 2013 has been productive for Harris & Harris Group. Net asset value per share has increased from from $4.13 as of December 31, 2012 to $4.24 as of June 30, 2013."