VRDM 27,2% / INSEQ 21,4% / GreenWorks Corp. 20,5% / Sterling Planet Inc. 5,1% / Ovation Products Corp. 6,8% (Stand 31.12.2005).
Nachstehend Kurzprofil dieser Firmen (Auszug aus dem Annual Report vom 17-Apr-2006)
Veridium Corporation
At December 31, 2005 our investment in Veridium totaled $5,746,692 at cost and $4,040,171 at value, or 27.2% of our total assets. Total interest and related portfolio income earned from our investment in Veridium for nine months ended December 31, 2005, was $17,697. Net change in unrealized appreciation or depreciation for nine months ended December 31, 2005, includes $1,706,521 of unrealized depreciation related to Veridium.
Veridium (OTC Bulletin Board: VRDM) is a publicly traded environmental management company. Veridium is currently implementing a restructuring plan which includes the cessation of operations of Veridium's industrial waste recycling facility and is planned to include the reorganization of its services business. Veridium expects that these initiatives will enhance operating results in the immediate term and enable Veridium to grow its business more effectively.
Our chairman and chief executive officer, Kevin Kreisler, is also the chairman, chief executive officer and president of Veridium Corporation. As the controlling shareholder of the Company, who is in turn the controlling shareholder of Veridium, Mr. Kreisler has unconditionally guaranteed certain of Veridium's debts with its creditors.
INSEQ Corporation
At December 31, 2005, our investment in INSEQ totaled $1,988,967 at cost and $3,149,671 at value, or 21.4% of our total assets. Total interest and related portfolio income earned from our investment in INSEQ for the nine months ended December 31, 2005, was $151,928 which includes management fees of $150,000 and interest income of $1,928. Net change in unrealized appreciation or depreciation for the nine months ended December 31, 2005, includes $1,160,704 unrealized appreciation related to INSEQ.
INSEQ is a publicly traded corporation whose mission is to directly facilitate the efficient utilization of natural resources including metals, chemicals, fuels and plastics.
Our chairman and chief executive officer, Kevin Kreisler, is also the chairman of INSEQ, and our president and chief financial officer, James Grainer, is also the president and chief financial officer of INSEQ. As the controlling shareholder of the Company, who is in turn the controlling shareholder of INSEQ, Mr. Kreisler and the Company have unconditionally guaranteed certain of INSEQ's debts with its creditors.
GreenWorks Corporation
At December 31, 2005, our investment in GreenWorks totaled $1,002,124 at cost and $3,236,514 at value, or 20.5% of our total assets. Total related portfolio income earned from our investment in GreenWorks for the nine months ended December 31, 2005, was $112,500. Net change in unrealized appreciation or depreciation for the nine months ended December 31, 2005, includes $2,234,390 unrealized appreciation related to GreenWorks.
GreenWorks is an environmental engineering services company that provides consulting, technical and engineering services to alleviate the environmental problems of its clients. GreenWorks' clients include Fortune 100 and other industrial companies, commercial firms, engineering and construction contractors, law firms, utilities, real estate developers and government entities.
Our chairman and chief executive officer, Kevin Kreisler, is also the chairman of GreenWorks, and our president and chief financial officer, James Grainer, is also the president and chief financial officer of GreenWorks.
Sterling Planet, Inc.
At December 31, 2005, our investment in Sterling totaled $750,000 at cost and $750,000 at value, or 5.1% of our total assets. Total interest and related portfolio income earned from our investment in Sterling for the nine months ended December 31, 2005, was about $17,389. Net change in unrealized appreciation or depreciation for the nine months ended December 31, 2005, includes no unrealized appreciation related to Sterling.
Sterling Planet is the nation's leading retail renewable energy provider through the sourcing and sale of renewable energy certificates ("RECs"). RECs, or green tags, enable retail residential and non-residential consumers to purchase green, or environmentally friendly, energy through their existing utility and offset reliance on power generated from fossil fuel sources. RECs represent all of the positive environmental attributes of renewable power generation from sources such as solar, wind and organic bioenergy power and can be purchased and used by consumers regardless of whether or not their local utility has access to green power generation.
Ovation Products Corporation
At December 31, 2005, our investment in Ovation totaled $1,000,000 at cost and $1,000,000 at value, or 6.8% of our total assets. We did not realize any interest or related portfolio income from our investment in Ovation for the nine months ended December 31, 2005. Net change in unrealized appreciation or depreciation for the nine months ended December 31, 2005, includes no unrealized appreciation related to Ovation.
Ovation is a development stage company with patented and proprietary technologies involving new implementations of vapor compression distillation. Ovation has invested over $9 million developing technology that offers dramatic price and performance advantages over competing clean water technologies. Ovation is finalizing the development of its initial product, the Clean Water Appliance - a fire-hydrant sized appliance that can generate 25 gallons of pure water per hour from a variety of dirty water input sources at a cost of approximately $0.004 per gallon, or about 1.2% of the cost of traditional home distillation methods. Ovation expects that its Clean Water Appliance will be available in 2006 and will sell for a fraction of the price of commercial distillation systems. Our chairman and chief executive officer, Kevin Kreisler, is a board member of Ovation.
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