Nice preso. PVL currently trades (6.5c) at a ~30% discount to...

Nice preso. PVL currently trades (6.5c) at a ~30% discount to NTA (9.1c). It is pleasing to see solid and steady ongoing increases to NTA despite difficult venture market conditions. I suspect we will see NTA continue to increase this year as market conditions improve and more of the portfolio undergoes new financing rounds. Let's see. A possible strategy here is simply to buy when there is a discount to NTA and sell when there is a premium to NTA in order to benefit from the underlying portfolio return (NTA increases) plus take advantage of mood swings by the market (for an enhanced return). If they can keep cashburn near neutral and continue a solid track record the gap of share price to NTA should close.