FTII Shares Gain 18% in 2005 – Annual Report
1. Our First Six Months
Fundamental Technologies II Corp. (FTII) was incorporated on June 9, 2005.
Our first six months focused on our structure, strategy and the start of our fund raising activities. Our fund raising strategy is to grow optimally; accepting new subscriptions at about the same rate as we can invest capital in what we believe are outstanding companies. If we execute well on this strategy, we will usually have most of our capital working for our investors – providing the highest returns we can.
By year-end we had completed three investments and added real value to our investee companies.
2. Expenses
Part of our mission at FTII is to keep costs as low as possible. We are proud that in our startup year,
after expensing everything, our total expenses as a percentage of year-end assets was 0.21%.
3. Our Portfolio
Parasun Technologies – our first, full-sized investment was into Parasun Technologies. This New Westminster based company is the American market leader in providing high speed internet services in partnership with cable TV operators. Parasun provides high speed data to over 80,000 homes and businesses in over 180 communities in North America. Parasun is very profitable and consistently growing cash flow at over 30% per year. Click here to visit Parasun’s website.
Visiphor Corporation – we made a first, small investment into Visiphor Corporation. Visiphor enables organizations to easily integrate and view data spread across multiple locations, platforms and formats. The company has recently been awarded two contracts for its products from the US Department of Homeland security. In November, Visiphor completed an acquisition of Sunaptic Solutions, a Vancouver-based IT services firm. Click here to visit Visiphor's website.
Backbone Systems and Networks – we were the lead investor in this startup company. Backbone is capitalizing on one of the biggest trends in technology; the transformation of hardware and software from a capital asset to a pay-as-you-go service. Click here to visit Backbone's website.
4. Net Assets per Share up 18.2% at Year End
The team at FTII is pleased to report that the company’s net asset value per share at December 31, 2005 was $11.82 - an 18.2% gain in the six months from June 1, 2005. Our year end financials are attached.
Our team will be working hard in 2006 to generate what we hope are outstanding returns for our shareholders.
Please call or e-mail us anytime if you have questions, comments or suggestions.
Dr. Basil Peters
CEO and Director |
Rick Peterson
President and Director |
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