| FINANCIAL HIGHLIGHTS |
NOTE 11 – FINANCIAL HIGHLIGHTS The following is a schedule of financial highlights for the three months ended March 31, 2022 through 2018: | | | | | | | | | | | | | | | Three Months Ended March 31, | | | | 2022 | | 2021 | | 2020 | | 2019 | | 2018 | | Per Share Data (1) | | | | | | | | | | | | | Net asset value at beginning of period | | $ | 1.24 | | 1.08 | | 0.91 | | 1.02 | | 0.87 | | Net investment income (loss) | | | 0.04 | | 0.00 | | 0.00 | | (0.02) | | (0.01) | | Net realized and unrealized gains (losses) | | | 0.01 | | 0.22 | | (0.03) | | 0.12 | | 0.06 | | Provision for income taxes | | | (0.01) | | (0.06) | | 0.00 | | 0.00 | | 0.00 | | Payment of common stock dividend | | | 0.00 | | 0.00 | | 0.00 | | (0.05) | | 0.00 | | Net asset value at end of period | | $ | 1.28 | | 1.24 | | 0.88 | | 1.07 | | 0.92 | | | | | | | | | | | | | | | Ratio / Supplemental Data | | | | | | | | | | | | | Per share market value of investments at end of period | | $ | 1.86 | | 1.25 | | 0.41 | | 0.78 | | 0.76 | | Shares outstanding at end of period | | | 10,790,413 | | 10,786,913 | | 11,067,402 | | 11,067,402 | | 11,067,402 | | Average weighted shares outstanding for the period | | | 10,790,413 | | 10,785,913 | | 11,067,402 | | 11,067,402 | | 11,863,392 | | Net assets at end of period | | $ | 13,826,160 | | 13,391,679 | | 9,786,615 | | 11,890,188 | | 9,783,191 | | Average net assets (2) | | $ | 13,620,104 | | 12,516,283 | | 9,927,574 | | 12,911,895 | | 9,770,410 | | Total investment return | | | 3.23 | % | 14.81 | % | (3.30) | % | 4.90 | % | 5.75 | % | Portfolio turnover rate (3) | | | 8.46 | % | 40.24 | % | 0.75 | % | 0.93 | % | 0.80 | % | Ratio of operating expenses to average net assets (3) | | | (15.28) | % | (16.20) | % | (7.82) | % | (6.06) | % | (7.52) | % | Ratio of net investment income (loss) to average net assets (3) | | | 14.24 | % | 0.42 | % | 0.87 | % | (4.87) | % | (6.16) | % | Ratio of realized gains (losses) to average net assets (3) | | | 4.20 | % | 133.32 | % | 1.00 | % | 137.57 | % | 2.17 | % |
| (1) | Per-share data was derived using the ending number of shares outstanding for the period. |
| (2) | Based on the monthly average of net assets as of the beginning and end of each period presented. |
| (3) | Ratios are annualized. |
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NOTE 11 – FINANCIAL HIGHLIGHTS The following is a schedule of financial highlights for the years ended December 31, 2021 through 2017: | | | | | | | | | | | | | | | Year Ended December 31, | | | | 2021 | | 2020 | | 2019 | | 2018 | | 2017 | | Per Share Data (1) | | | | | | | | | | | | | Net asset value at beginning of period | | $ | 1.08 | | 0.91 | | 1.02 | | 0.87 | | 0.77 | | Net investment gain (loss) | | | 0.12 | | 0.05 | | (0.06) | | (0.05) | | (0.05) | | Net realized and unrealized gains (losses) | | | 0.24 | | 0.18 | | 0.00 | | 0.20 | | 0.11 | | Provision for income taxes | | | (0.10) | | (0.02) | | 0.00 | | 0.00 | | 0.00 | | Stock based compensation | | | 0.00 | | (0.01) | | 0.00 | | 0.00 | | 0.00 | | Repurchase of common stock | | | 0.00 | | 0.02 | | 0.00 | | 0.00 | | 0.04 | | Payment of common stock dividend | | | (0.10) | | (0.05) | | (0.05) | | 0.00 | | 0.00 | | Net asset value at end of period | | $ | 1.24 | | 1.08 | | 0.91 | | 1.02 | | 0.87 | | | | | | | | | | | | | | | Ratio / Supplemental Data | | | | | | | | | | | | | Per share market value of investments at end of period | | $ | 1.31 | | 0.62 | | 0.16 | | 0.90 | | 0.65 | | Shares outstanding at end of period | | | 10,790,413 | | 10,785,913 | | 11,067,402 | | 11,067,402 | | 11,067,402 | | Average weighted shares outstanding for the period | | | 10,789,294 | | 10,869,054 | | 11,067,402 | | 11,067,402 | | 11,863,392 | | Net assets at end of period | | $ | 13,414,049 | | 11,640,887 | | 10,068,533 | | 11,278,889 | | 9,629,215 | | Average net assets (2) | | $ | 13,155,207 | | 10,504,563 | | 11,473,535 | | 10,341,702 | | 9,444,440 | | Total investment return | | | 24.07 | % | 23.08 | % | (5.88) | % | 17.24 | % | 7.79 | % | Portfolio turnover rate (3) | | | 168.67 | % | 61.11 | % | 7.63 | % | 26.93 | % | 35.03 | % | Ratio of operating expenses to average net assets (3) | | | (10.30) | % | (7.16) | % | (7.27) | % | (6.59) | % | (7.30) | % | Ratio of net investment income (loss) to average net assets (3) | | | 9.89 | % | 5.35 | % | (5.86) | % | (5.13) | % | (5.45) | % | Ratio of realized gains (losses) to average net assets (3) | | | 31.30 | % | 0.05 | % | 28.35 | % | (5.62) | % | 5.71 | % |
| (1) | Per-share data was derived using the weighted-average number of shares outstanding for the period. |
| (2) | Based on the monthly average of net assets as of the beginning and end of each period presented. |
| (3) | Ratios are annualized. |
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