CVG Equipment under its new CEO is rationalizing its business through divesting noncore assets. Mama’s Creations held an Analyst Day recently. While you can’t take advantage of sampling the food at the event in person, you can order its products from Mama’s website and enjoy them at home while listening to Adam Michaels and his team describe what they believe will be substantial growth ahead. Even our legacy private holding that completed public listing, D-Wave Systems, announced new partnerships and the availability of a new quantum computer through its quantum cloud offering. These announcements are just a sampling of what we believe sets up ’24 as a year where multiple value-creating catalysts could occur and if they do, to drive meaningful growth for TURN and its shareholders.
Lastly, I would like to note that we included additional slides that contain metrics from the quarter, year and inception to date in an appendix at the end of the slide deck on our website. We’re not going to discuss those slides in the prepared remarks today but we would be happy to answer questions on them any time. We would now like to open the line for questions [Operator Instructions]
Kevin Rendino: While we’re waiting for questions, one last comment from me. Now that essentially 100% of our assets are in public companies and most of you know that we’re investors and not traders, you should be able to do the math and figure out what our NAV is at any given point in time during the quarter by looking at what our holdings were at the end of last quarter. Now, that’s not going to be an exact science because sometimes we obviously trade in and out of quarters. And then, of course, you have to subtract expenses as well. But you should have a much clearer picture of where we stand and how we’re doing during the course of a quarter. And that’s something that we couldn’t have said at any time in the last 7 years.
We’re now — our NAV growth is now almost 100% aligned towards our public stock performance. And as you know or can see, given what’s happened year-to-date, if we continue to own the stocks that we owned at the end of last quarter, our NAV is materially higher than it was at the end of last quarter and approaching 6 and far away from 5. So I’ll stop there, Daniel and see if we have any questions.
A – Daniel Wolfe:
Kevin Rendino: Excellent, no questions. I mean, we either gave a complete performance analysis and nobody had anything to ask, or nobody was on the phone. Either way, I wish everybody a good day, a much better 2024. As I said, we’re off to a very good start. We’re excited about that. We’re excited about the amount of stock that we own in TURN given the potential for us to increase our NAV and narrow that discount going forward. Have a good 2024. Thanks.
Daniel Wolfe: And if anyone has any questions, feel free to reach out to us at any time. Thank you very much and you can now disconnect.
