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GSV Capital Corp. Files Form 10-K For Fiscal Year 2013

Stocks in this article: GSVC

WOODSIDE, Calif., March 18, 2014 (GLOBE NEWSWIRE) -- GSV Capital Corp. ("GSV") (Nasdaq:GSVC), announced the filing of its annual report on Form 10-K with the United States Securities and Exchange Commission (SEC) for the fiscal year ended December 31, 2013. The Company's results for the fourth quarter and fiscal year 2013 included several accounting treatments new to GSV's financial statements and the following summary is intended to provide investors with further clarity.

GSV Financial Highlights for the year ended December 31, 2013

As reported on March 13, 2014 in the Company's earnings press release, GSV's net asset value per share increased $1.84 or 14% year-over-year to $14.91 as of year-end 2013. Further, the Company's stock increased 43% during calendar year 2013.

  Net Asset Value Net Asset Value per Share (Basic)
Net Assets (at 12/31/12)  $ 252,582,801  $ 13.07
Net Investment Loss  $ (22,034,924)  $ (1.14)
Net Realized Loss  $ (21,706,021)  $ (1.12)
Unrealized Portfolio Appreciation 1  $ 87,445,149  $ 4.53
Net Deferred Income Tax Provision  $ (8,320,561)  $ (0.43)
Net Increase in Net Assets  $ 35,383,643  $ 1.84
Net Assets (at 12/31/13)  $ 287,966,444  $ 14.91

GSV's Founder and Chief Executive Officer Michael Moe said, "We understand that our results for the fourth quarter and fiscal year end were particularly complex and we wanted to provide a summary of key information to make it easier for our investors to understand these factors. First, we are pleased by the strong increase in net asset value per share to $14.91 at year-end. The appreciation of our portfolio's value, primarily attributable to Twitter, Control4 and other top holdings, has resulted in substantial cumulative unrealized gains. It has always been our intention to pay a dividend once there are cumulative realized gains from our portfolio. We may generate net realized gains in 2014, and with our December 2013 application with the SEC, we have taken an important step toward transitioning to RIC (Regulated Investment Company) status. The Board is currently considering dividend plans for implementation when realized gains are recorded.

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