NEW YORK, Nov 08, 2006 (BUSINESS WIRE) -- Harris & Harris Group, Inc., announced today that, as of September 30, 2006, its net assets and net asset value per outstanding share (NAV) were $115,048,343 and $5.54, respectively.
Harris & Harris Group is a publicly traded venture capital company that makes initial investments exclusively in tiny technology, including nanotechnology, microsystems and microelectromechanical systems (MEMS). The Company's last 30 initial private equity investments have been in tiny technology-enabled companies. The Company has 20,756,345 common shares outstanding.
Detailed information about Harris & Harris Group and its holdings can be found on its website at www.TinyTechVC.com.
SUMMARY OF FINANCIAL RESULTS ----------------------------------------- Sept. 30, June 30, Dec. 31, Sept. 30, 2006 2006 2005 2005 (Unaudited) (Unaudited) (Audited) (Unaudited) Total Assets $118,975,063 $120,100,765 $132,938,120 $132,523,181 Net Assets $115,048,343 $115,166,300 $117,987,742 $123,376,692 Total Net Income Tax Liability $ 38,938 $ 1,354,502 $ 9,637,334 $ 1,353,454 Net Asset Value per Share $ 5.54 $ 5.54 $ 5.68 $ 5.94 Shares Outstanding 20,756,345 20,756,345 20,756,345 20,756,345
This press release may contain statements of a forward-looking nature relating to future events. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. These statements reflect the Company's current beliefs, and a number of important factors could cause actual results to differ materially from those expressed in this press release. Please see the Company's Annual Report on Form 10-K and the Company's report on Form 10-Q for the quarter ended September 30, 2006, filed with the Securities and Exchange Commission for a more detailed discussion of the risks and uncertainties associated with the Company's business, including but not limited to the risks and uncertainties associated with venture capital investing and other significant factors that could affect the Company's actual results. Except as otherwise required by Federal securities laws, Harris & Harris Group, Inc., undertakes no obligation to update or revise these forward-looking statements to reflect new events or uncertainties. The reference to the website www.TinyTechVC.com has been provided as a convenience, and the information contained on such website is not incorporated by reference into this press release.
SOURCE: Harris & Harris Group, Inc.
Harris & Harris Group, Inc. Charles E. Harris, 212-582-0900
Copyright Business Wire 2006
News Provided by COMTEX