New York City, Apr 22, 2020 (Issuewire.com) - Don Chambers owns more than 1% of shares outstanding of Firsthand Value Technology Fund (NASDAQ: SVVC).
Dr. Donald R. Chambers announced today that he intends to vote AGAINST the ratification of SVVC's current public accounting firm at the Annual Meeting of Firsthand Value Technology Fund shareholders scheduled for May 13, 2020. Chambers urges all shareholders to vote AGAINST the ratification of SVVC's current public accounting firm.
The reported net asset value of SVVC of $17.70 per share was announced on March 16, 2020. The market price of SVVC's stock surrounding that announcement traded in a range of only approximately $3 to $4 per share. SVVC's assets include extensive use of Level 3 value quotes which require professional judgement and unobservable parameters.
It is important, especially given the huge declines in SVVC share prices below the reported net asset value, that shareholders have statement compiled by a new public accounting firm that has not generated the past financial statements for SVVC and that is not serving as the public accounting firm for other Firsthand Funds. Shareholders deserve to receive fresh opinions from a public accounting firm with regard to the financial statements and potential conflicts of interest.
Analysis of these and other issues related to the annual shareholders meeting can be found at: www.savefirsthandtechnology.com.
Donald R Chambers is available at DonaldRChambers@gmail.com as well as at (610) 360-4176.
All information in this press release is for general information purposes only and should not be relied on as a basis for financial, investment or other decisions. The information represents interpretations I believe to be accurate, but no warranties of any kind are made about its accuracy, reliability or completeness.
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Dr. Donald R Chambers
Source :Dr. Donald R Chambers
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