The Company maintains interests in several privately held companies primarily through its interests in two venture capital funds which invest as “@Ventures.” The Company invests in early stage technology companies. These investments are generally made in connection with a round of financing with other third-party investors.
During the three months ended October 31, 2013 no investments were made by @Ventures in privately held companies. During the three months ended October 31, 2012, approximately $0.6 million was invested by @Ventures in privately held companies. At October 31, 2013 and July 31, 2013, the Company’s carrying value of investments in privately held companies was approximately $7.8 million and $8.0 million, respectively. No impairment charges were recorded during the three months ended October 31, 2013 and 2012. During the three months ended October 31, 2013 and 2012, @Ventures did not receive any distributions from its investments.
off-topic on Von Neumann. I have a degree (3rd?) in math, and I've noticed that a lot of us nerdniks gravitate into stock investing - perhaps the random walk aspect, or an interest in game theory or chaos theory. At any rate, I could tell you about my dalliance with prime number theory, and how I managed to discover a way of counting primes within certain partitions only to find out that Ramanujan long ago beat me to it and did a much better job of it. See, I can hear the snoring already...