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Harris & Harris Group, Inc. Message Board

  • acricketeer acricketeer Mar 20, 2013 10:59 AM Flag

    CC Hints at Possibility of Managing Outside Money (With SEC Disclosure Disclaimers)

    He pointed to the 12 - 18 month window (they announced a desire to do so around 12 mos. ago) that is customary in the vc industry. They obviously need to earn management fees to offset SG & A. Some nice new additions to their life sciences portfolio, including one in AgBiotech. I remember when Ag was 20% of the biotech stock index (15 years ago). Amgen just announce a positive phase 3 trial result last night from portfolio company, Biovex.Also, there are now two funds dealing with private Quantum Computing companies., including yesterday's announcement of the former CEO of Blackberry/RIMM starting a new quantum-based fund. They got theirhands full. It's time to execute without glossy disclaimers.

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    • It would be easy to list their complete portfolio the amount they have invested and their current valuation. It does little for anyone to discuss companies they have a very limited investment in. Lots of smoke and mirrors. It's hard to gloss BS. They haven't managed their shareholders capital well, how do they attract mananage fees for managing others capital? Szym stock is about 10% of TINY NAV. Even if they do have an IPO in 2013 they have already valued the stock of their holding at the expected offering price as a part of their NAV. Still spread too thin. One real success nurtured to completion is worth 20 companies evaporating small bits of capital that is unable to get them to success. Tiny has been evaporating capital for a long time and has lost the ability to attract new capital partially because of using the companies stock as an ATM for company employees. The original Harris founders model did not dilute capital til it becomes ineffective, choose a couple winners and give them capital support to succeed. Will they learn before all the money is gone? ? It doesn't look like it.

      Sentiment: Strong Sell

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