Harris & Harris Group Reports Financial Statements as of December 31, 2006
NEW YORK--(BUSINESS WIRE)--
Harris & Harris Group, Inc., reported today that, as of December 31, 2006, its net asset value and net asset value per share were $113,930,303 and $5.42, respectively.
SUMMARY OF FINANCIAL RESULTS ---------------------------------------------------------------------- December 31, 2006 September 30, 2006 December 31, 2005 (Audited) (Unaudited) (Audited) Total Assets $118,328,590 $118,975,063 $132,938,120 Total Net Income Tax Liability $ 0 $ 38,938 $ 9,637,334 Net Assets $113,930,303 $115,048,343 $117,987,742 Net Asset Value per Share $ 5.42 $ 5.54 $ 5.68 Shares Outstanding 21,015,017 20,756,345 20,756,345
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 31 initial private equity investments have been in tiny technology-enabled companies. The Company has 21,341,029 shares of common stock outstanding.
Detailed information about Harris & Harris Group and its holdings can be found on its website at www.TinyTechVC.com.
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 Registration Statement on Form N-2 and Annual Report on Form 10-K for the year ended December 31, 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.
Released March 15, 2007