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Investment Policies
We have developed a general policy framework from which we will operate. Our investment objectives and non-diversification status may be changed at any time and from time to time without shareholder approval. Our general policies are described below, but are not all-inclusive.
We do not intend to sell securities short or on margin, write puts or calls on marketable securities or purchase or sell commodities or commodity contracts.
We do not contemplate the purchase or sale of real estate, or real estate mortgage loans, nor do we intend to formally underwrite the issuance of securities of other companies although we may invest in real estate operating businesses.
We do not exclude investments in any type of businesses, industry or group or the amount or type of securities of a company that we may acquire. It is somewhat more likely that we will invest in potentially high growth technology or software companies because of the background of our management.
We may make additional investments in Portfolio Companies to protect our original investment and we may continue to invest in the restricted securities of such Portfolio Companies.
We expect to lend funds and provide services to our Portfolio Companies to advance their business plans and to create additional value. We are more likely to subordinate repayment or convert to equity than to recapture such funds upon a follow-on financing transaction.
We intend to focus on companies that have completed the R&D stage and are selling products or services or have a proven and marketable product.
We may hold securities in non-target companies that we have received as fees. Such securities will likely be liquidated when they become both marketable and unrestricted.
We may hold investments in higher-grade securities as a liquidity management tool while we seek appropriate portfolio investments.
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