Their work has proved especially valuable in providing an appropriate level of support for the annual independent audit of the Fund.

George J. McVey, Jr.
Dynamis Advisors, LLC & IMVA, LLC

LiquiStat - Private Company Shares

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LiquiStat consists of records of trades that have taken place between investors in the secondary market.

For each transaction, we have collected information, including deal documents, on the buyers and sellers of the securities, the nature, rights, preferences, and privilleges of the securities, restrictions on resale inherent in the securities, and data on the issuer's financial condition, among other factors.

The goal is, for each transaction, to discover, determine, and analyze the factors that were considered by the buyer and seller when making the decision to trade. These factors, then, represents the main drivers of value of the securities sold.

LiquiStat contains a large number of transactions in private company shares - shares in typically later-stage venture-backed companies that are not yet ready to, or have chosen not to, go public yet. Typical names include companies like Facebook, Twitter, LinkedIn, Zynga, etc. When valuing the stock of similar companies, for example, to comply with FAS 123R/ASC 718 or IRC 409A, the transaction data in LiquiStat is highly valuable.