The valuation committee establishes guidelines and makes recommendations to our board of directors regarding the valuation of our investments. The board of directors and valuation committee utilize the services of nationally recognized third-party valuation firms to help determine the fair value of our securities that are not publicly traded and for which there are no readily available market quotations including securities, that while listed on a private securities exchange, have not actively traded. The valuation committee is presently composed of Messrs. Koenig, Potter, Friedman, and Lott, all of whom are considered independent under the rules of the NASDAQ Capital Market and are not "interested persons" of NeXt Innovation as that term is defined in Section 2(a)(19) of the 1940 Act. Mr. Koenig serves as chairman of the valuation committee.
- Financial Expert
- Independent Director