v3.25.4
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Nov. 30, 2025
Nov. 30, 2024
Operating activities    
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS $ 39,217,382 $ 28,763,019
FROM OPERATIONS TO NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES:    
Distributions from CLO, payment-in-kind and other adjustments to cost (1,863,737) (4,546,611)
Net accretion of discount on investments (2,428,199) (2,181,920)
Amortization of deferred debt financing costs 3,614,157 3,781,712
Realized losses on extinguishment of debt 123,157
Income tax expense (benefit) (165,989) 43,168
Net realized (gain) loss from investments (6,024,577) 49,198,979
Net change in unrealized (appreciation) depreciation on investments (4,088,032) (33,741,003)
Net change in provision for deferred taxes on unrealized (appreciation) depreciation on investments (218,779) 747,063
Proceeds from sales and repayments of investments 150,894,253 296,246,215
Purchases of investments (174,362,303) (126,275,103)
(Increase) decrease in operating assets:    
Interest receivable (1,424,402) 2,836,864
Management fee receivable 42,816 15,655
Other assets (1,329,628) (707,967)
Current income tax receivable 97,745
Increase (decrease) in operating liabilities:    
Base management and incentive fees payable 651,258 (625,382)
Accounts payable and accrued expenses 469,710 1,162,668
Interest and debt fees payable 683,852 2,293,679
Directors fees payable 5,500
Due to Manager 590,173 346,396
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES 4,386,612 217,455,177
Financing activities    
Borrowings on debt 50,000,000 30,000,000
Paydowns on debt (32,500,000) (12,500,000)
Repayments of notes (37,000,000)
Payments of deferred debt financing costs (1,376,388) (1,176,806)
Proceeds from issuance of common stock 18,752,929 2,777,426
Capital contribution from Manager 569,322 199,652
Payments of cash dividends (37,972,332) (27,055,975)
Payments of offering costs (25,857) (42,575)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES (39,552,326) (7,798,278)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS AND CASH AND CASH EQUIVALENTS, RESERVE ACCOUNTS (35,165,714) 209,656,899
CASH AND CASH EQUIVALENTS AND CASH AND CASH EQUIVALENTS, RESERVE ACCOUNTS, BEGINNING OF PERIOD 204,723,924 40,507,124
CASH AND CASH EQUIVALENTS AND CASH AND CASH EQUIVALENTS, RESERVE ACCOUNTS, END OF PERIOD (See note 2) 169,558,210 250,164,023
Supplemental information:    
Interest paid during the period 32,437,453 33,059,630
Cash paid for taxes 382,459 617,665
Supplemental non-cash information:    
Distributions from CLO, payment-in-kind and other adjustments to cost 1,863,737 9,920,201
Net accretion of discount on investments 2,428,199 2,181,920
Amortization of deferred debt financing costs 3,614,157 3,781,712
Stock dividend distribution $ 4,883,827 $ 3,220,162