This the core of what was contained in the news release.
"NEW YORK, July 18, 2013 (GLOBE NEWSWIRE) -- Harris & Harris Group, Inc. (TINY), an early-stage, active investor in transformative companies, notes the closing of the sale of Xradia to Carl Zeiss on Friday, July 12, 2013. Xradia will now operate under the new name of Carl Zeiss X-ray Microscopy, Inc.
Harris & Harris Group is an investor in privately held Xradia. We will receive up to $15.2 million in proceeds from the sale, including amounts to be held in escrow. As of March 31, 2013, we valued our securities of Xradia at $13,140,763, and our cost basis in Xradia is $4,000,000.
"The sale of Xradia to Carl Zeiss is another validation that the portfolio we have built over the past decade is beginning to mature," said Doug Jamison, CEO of Harris & Harris Group. "Looking forward, with the progress of our portfolio companies, we are excited that our investment thesis is beginning to be realized."
Hey, Doug, talk about "validation." TINY is a $3 stock. Whoopee!
Also, if the past remains the prologue, TINY mgt. will see fit to claim a BIG chunk of the "up to $15.2 million," based upon bogus assertions like "we've met certain milestones," or the 'swell job we've done in building the portfolion "over the past decade" ' and like bunk.
Well, how about also mentioning the disastrous initial and post-IPO bigtime losing investments in NPTN, or the repeated blunders in 'managing' the SZYM position? And so forth.