During any time that the iSelect Fund holds securities or warrants in a portfolio company, the portfolio company is required to report material events that impact the value of the underlying securities. Within 30 days after the end of each fiscal quarter, every portfolio company must submit an update form, setting forth any material developments that occurred during the prior quarter. iSelect will upload the information to the portfolio company’s file that is available to investors through iSelect’s virtual data room (see HOW CAN I FIND OUT MORE ABOUT THE COMPANIES IN THE ISELECT FUND?)
In addition, until expiration of iSelect’s warrant to purchase the company’s securities, each company is required to provide an income statement and balance sheet to iSelect within 30 days of the end of each fiscal quarter and within 90 days of the end of the fiscal year. iSelect does not require that these statements be audited but they must be certified by company management.