Firsthand Technology Value Fund, Inc. Files 2023 10-K

TL;DR

<b>Firsthand Technology Value Fund, Inc. reported $30.6M in assets and $1.26M in net income for FY2023.</b>

AI Summary

Firsthand Technology Value Fund, Inc. (SVVC) filed a Annual Report (10-K) with the SEC on March 28, 2024. Total assets reported as $30,609,591 for the fiscal year ended December 31, 2023. Net income for the fiscal year ended December 31, 2023, was $1,260,371. Earnings per share (EPS) for the fiscal year ended December 31, 2023, was $0.001. The company reported total debt of $100,000,000. The filing includes details on various debt and equity instruments with maturity dates ranging from 2019 to 2022.

Why It Matters

For investors and stakeholders tracking Firsthand Technology Value Fund, Inc., this filing contains several important signals. The 10-K filing provides a comprehensive overview of the company's financial health and operational performance for the fiscal year 2023. Detailed information on investments, debt, and equity offerings can help investors assess the fund's strategy and risk exposure.

Risk Assessment

Risk Level: medium — Firsthand Technology Value Fund, Inc. shows moderate risk based on this filing. The company's financial performance, including net income and EPS, is relatively modest, and the filing details a significant amount of debt ($100,000,000), indicating potential financial leverage and risk.

Analyst Insight

Investors should review the detailed breakdown of investments and debt instruments to understand the fund's risk profile and potential for future returns.

Financial Highlights

total Assets

30,609,591

total Debt

100,000,000

net Income

1,260,371

eps

0.001

Key Numbers

• 30,609,591 — Total Assets (As of December 31, 2023)
• 1,260,371 — Net Income (For the fiscal year ended December 31, 2023)
• 0.001 — EPS (For the fiscal year ended December 31, 2023)
• 100,000,000 — Total Debt (As of December 31, 2023)

Key Players & Entities

• Firsthand Technology Value Fund, Inc. (company) — Filer
• 2023-12-31 (date) — Fiscal Year End
• 2024-03-28 (date) — Filing Date
• $30,609,591 (dollar_amount) — Total Assets
• $1,260,371 (dollar_amount) — Net Income
• $0.001 (dollar_amount) — Earnings Per Share
• $100,000,000 (dollar_amount) — Total Debt

FAQ

Risk Factors

• Debt Obligations [medium — financial]: The company has significant debt obligations, including $100,000,000 in total debt, which could impact its financial flexibility.
• Investment Performance [medium — market]: The value of the company's investments is subject to market fluctuations and economic conditions, which could adversely affect its financial results.

Key Dates

• 2023-12-31: Fiscal Year End — Reporting period for the 10-K filing.
• 2024-03-28: Filing Date — Date the 10-K was officially submitted to the SEC.

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value The NASDAQ Global Market
• $0.30 — on (computed using the closing price of $0.30 per share of Common Stock on December 3
• $250 million — s with market capitalizations less than $250 million. Our portfolio is primarily composed of
• $1 million — ese investments generally range between $1 million and $10 million each, although the inve
• $10 million — generally range between $1 million and $10 million each, although the investment size will

Filing Documents

• sccv20231231_10k.htm (10-K) — 5300KB
• ex_619529.htm (EX-31.1) — 15KB
• ex_619530.htm (EX-32.1) — 4KB
• ex_641264.htm (EX-99.1) — 1464KB
• a1.jpg (GRAPHIC) — 9KB
• bdo.jpg (GRAPHIC) — 6KB
• c01.jpg (GRAPHIC) — 13KB
• c02.jpg (GRAPHIC) — 28KB
• c03.jpg (GRAPHIC) — 9KB
• fp0081632-2_100.jpg (GRAPHIC) — 9KB
• i24.jpg (GRAPHIC) — 41KB
• sig1.jpg (GRAPHIC) — 4KB
• sig2.jpg (GRAPHIC) — 4KB
• 0001437749-24-009861.txt (&nbsp;) — 24696KB
• svvc-20231231.xsd (EX-101.SCH) — 68KB
• svvc-20231231_cal.xml (EX-101.CAL) — 41KB
• svvc-20231231_def.xml (EX-101.DEF) — 456KB
• svvc-20231231_lab.xml (EX-101.LAB) — 352KB
• svvc-20231231_pre.xml (EX-101.PRE) — 487KB
• sccv20231231_10k_htm.xml (XML) — 8158KB

Business

Item 1. Business 2

Risk Factors

Item 1A. Risk Factors 16

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 22

C ybersecurity

Item 1C. C ybersecurity 23

Properties

Item 2. Properties 24

Legal Proceedings

Item 3. Legal Proceedings 24

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 24 PART II

Market for Registrant ' s Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities

Item 5. Market for Registrant ' s Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities 24

Selected Financial Data

Item 6. Selected Financial Data 25

Management ' s Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management ' s Discussion and Analysis of Financial Condition and Results of Operations 28

Quantitative And Qualitative Disclosures About Market Risk

Item 7A. Quantitative And Qualitative Disclosures About Market Risk 38

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 41

Changes In And Disagreements With Accountants On Accounting And Financial Disclosure

Item 9. Changes In And Disagreements With Accountants On Accounting And Financial Disclosure 91

Controls and Procedures

Item 9A. Controls and Procedures 91

Other Information

Item 9B. Other Information 92 Part III

Directors, Executives Officers And Corporate Governance

Item 10. Directors, Executives Officers And Corporate Governance 92

Executive Compensation

Item 11. Executive Compensation 92

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 92

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 93

Principal Accountant Fees and Services

Item 14. Principal Accountant Fees and Services 93 Part IV

Exhibits, Financial Statements Schedules

Item 15. Exhibits, Financial Statements Schedules 93 1 Table of Contents PART I Item 1.

FORWARD LOOKING STATEMENTS

FORWARD LOOKING STATEMENTS This report, and other statements that we may make, may contain forward-looking statements, which relate to future events or our future performance or financial condition. We use words such as "anticipates," "believes," "expects," "plans," "will," "may," "continues," "seeks," "likely," "intends," and similar expressions to identify forward-looking statements. The forward-looking statements contained in this Annual Report on Form 10-K involve risks and uncertainties, including forward-looking statements as to: our future operating results, our business prospects and the prospects of our prospective portfolio companies, the impact of investments that we expect to make, our contractual arrangements and relationships with third parties, the dependence of our future success on the general economy and its impact on the industries in which we invest, the ability of our prospective portfolio companies to achieve their objectives, our expected financings and investments, the adequacy of our cash resources and working capital, and the timing of cash flows, if any, from the operations of our prospective portfolio companies. Our actual results could differ materially from those projected in the forward-looking statements for any reason, including the factors set forth in "Risk Factors" and elsewhere in this Annual Report on Form 10-K. In addition, several factors that could materially affect our actual results are the ability of the portfolio companies in which we invest to achieve their objectives; our ability to source favorable private investments; changes in the securities markets, especially the markets for technology companies including those that may be early stage or micro-cap companies; the dependence of our future success of the general economy and its impact on the industries in which we invest and other factors discussed in our periodic filings with the Securities and Exchange Commission (the "SEC"). Unpredictable or unknown fa

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View this 10-K filing on SEC EDGAR