Note:
The NAV-basic per Equity Share on any Valuation Date shall be calculated by dividing the NAV on such Valuation Date by the total number of Equity Shares issued and outstanding on such Valuation Date.

NAV-fully diluted: where the NAV-basic per Equity Share is greater than $10.00, the diluted NAV per Equity Share shall be calculated by adding to the denominator the total number of Warrants outstanding and by adding to the numerator the product of the total number of Warrants outstanding multiplied by $10.00 Equity Share.