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Note 5 - Transactions With Affiliated Companies | 9 Months Ended
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Sep. 30, 2023
Notes to Financial Statements |
Investments in and Advances to Affiliates, Schedule of Investments [Text Block] | Note 5. Transactions with affiliated companies A non-controlled affiliated company is generally a portfolio company in which the Company owns 5% or more of such portfolio company’s voting securities but not more than 25% of such portfolio company’s voting securities. Transactions related to investments in non-controlled affiliated companies for the three months ended September 30, 2023 were as follows:
|  |  |  |  |  |  |  |  |  | Three months ended September 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Fair value at |  |  |  |  |  |  |  |  |  |  | Transfers |  |  |  |  |  |  | Net |  |  |  |  |  |  | Fair value at |  |  |  |  |
Portfolio |  | June 30, |  |  |  |  |  |  | Principal |  |  | in/(out) at |  |  | Discount |  |  | unrealized |  |  | Net realized |  |  | September 30, |  |  | Interest |
Company |  | 2023 |  |  | Purchases |  |  | Payments |  |  | fair value |  |  | accretion |  |  | gain/(loss) |  |  | gain/(loss) |  |  | 2023 |  |  | income |
|  | (In thousands) |
Aulea Medical, Inc. |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Cadrenal Therapeutics, Inc. (1) |  |  | 906 |  |  |  | — |  |  |  | — |  |  |  | (906 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Evelo Biosciences, Inc. |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 7,665 |  |  |  | 8 |  |  |  | (5,007 | ) |  |  | — |  |  |  | 2,666 |  |  |  | 277 |
|  |  | — |  |  |  | — |  |  |  | — |  |  |  | 11,496 |  |  |  | 11 |  |  |  | (7,510 | ) |  |  | — |  |  |  | 3,997 |  |  |  | 415 |
|  |  | — |  |  |  | — |  |  |  | — |  |  |  | 4,612 |  |  |  | 5 |  |  |  | (3,013 | ) |  |  | — |  |  |  | 1,604 |  |  |  | 166 |
|  |  | — |  |  |  | — |  |  |  | — |  |  |  | 4,598 |  |  |  | 3 |  |  |  | (3,004 | ) |  |  | — |  |  |  | 1,597 |  |  |  | 163 |
|  |  | — |  |  |  | — |  |  |  | — |  |  |  | 3,067 |  |  |  | 4 |  |  |  | (2,003 | ) |  |  | — |  |  |  | 1,068 |  |  |  | 114 |
|  |  | — |  |  |  | — |  |  |  | — |  |  |  | 3,067 |  |  |  | 4 |  |  |  | (2,003 | ) |  |  | — |  |  |  | 1,068 |  |  |  | 111 |
|  |  | — |  |  |  | — |  |  |  | — |  |  |  | 5,000 |  |  |  | — |  |  |  | 3,485 |  |  |  | — |  |  |  | 8,485 |  |  |  | — |
Total non-controlled affiliates |  | $ | 906 |  |  | $ | — |  |  | $ | — |  |  | $ | 38,599 |  |  | $ | 35 |  |  | $ | (19,055 | ) |  | $ | — |  |  | $ | 20,485 |  |  | $ | 1,246 |
(1) | As of September 30, 2023, the Company no longer owns 5% or more of the portfolio company.
Transactions related to investments in non-controlled affiliated companies for the nine months ended September 30, 2023 were as follows:
|  |  |  |  |  |  |  |  |  | Nine months ended September 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Fair value at |  |  |  |  |  |  |  |  |  |  | Transfers |  |  |  |  |  |  | Net |  |  |  |  |  |  | Fair value at |  |  |  |  |
Portfolio |  | December 31, |  |  |  |  |  |  | Principal |  |  | in/(out) at |  |  | Discount |  |  | unrealized |  |  | Net realized |  |  | September 30, |  |  | Interest |
Company |  | 2022 |  |  | Purchases |  |  | Payments |  |  | fair value |  |  | accretion |  |  | gain/(loss) |  |  | gain/(loss) |  |  | 2023 |  |  | income |
|  | (In thousands) |
Aulea Medical, Inc. |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Cadrenal Therapeutics, Inc. (1) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (906 | ) |  |  | — |  |  |  | 906 |  |  |  | — |  |  |  | — |  |  |  | — |
Evelo Biosciences, Inc. |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 7,665 |  |  |  | 8 |  |  |  | (5,007 | ) |  |  | — |  |  |  | 2,666 |  |  |  | 277 |
|  |  | — |  |  |  | — |  |  |  | — |  |  |  | 11,496 |  |  |  | 11 |  |  |  | (7,510 | ) |  |  | — |  |  |  | 3,997 |  |  |  | 415 |
|  |  | — |  |  |  | — |  |  |  | — |  |  |  | 4,612 |  |  |  | 5 |  |  |  | (3,013 | ) |  |  | — |  |  |  | 1,604 |  |  |  | 166 |
|  |  | — |  |  |  | — |  |  |  | — |  |  |  | 4,598 |  |  |  | 3 |  |  |  | (3,004 | ) |  |  | — |  |  |  | 1,597 |  |  |  | 163 |
|  |  | — |  |  |  | — |  |  |  | — |  |  |  | 3,067 |  |  |  | 4 |  |  |  | (2,003 | ) |  |  | — |  |  |  | 1,068 |  |  |  | 114 |
|  |  | — |  |  |  | — |  |  |  | — |  |  |  | 3,067 |  |  |  | 4 |  |  |  | (2,003 | ) |  |  | — |  |  |  | 1,068 |  |  |  | 111 |
|  |  | — |  |  |  | — |  |  |  | — |  |  |  | 5,000 |  |  |  | — |  |  |  | 3,485 |  |  |  | — |  |  |  | 8,485 |  |  |  | — |
Total non-controlled affiliates |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 38,599 |  |  | $ | 35 |  |  | $ | (18,149 | ) |  | $ | — |  |  | $ | 20,485 |  |  | $ | 1,246 |
(1) | As of September 30, 2023, the Company no longer owns 5% or more of the portfolio company.
Transactions related to investments in non-controlled affiliated companies for the three months ended September 30, 2022 were as follows:
|  |  |  |  |  |  |  |  |  | Three months ended September 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Fair value at |  |  |  |  |  |  |  |  |  |  | Transfers |  |  |  |  |  |  | Net |  |  |  |  |  |  | Fair value at |  |  |  |  |
Portfolio |  | June 30, |  |  |  |  |  |  |  |  |  |  | in/(out) at |  |  | Discount |  |  | unrealized |  |  | Net realized |  |  | September 30, |  |  | Interest |
Company |  | 2022 |  |  | Purchases |  |  | Sales |  |  | fair value |  |  | Accretion |  |  | gain/(loss) |  |  | gain/(loss) |  |  | 2022 |  |  | income |
|  | (In thousands) |
MVI (ABC) LLC fka StereoVision, Inc. |  |  | — |  |  |  | — |  |  |  | (30 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 30 |  |  |  | — |  |  |  | — |
Total non-controlled affiliates |  | $ | — |  |  | $ | — |  |  | $ | (30 | ) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 30 |  |  | $ | — |  |  | $ | — |
Transactions related to investments in non-controlled affiliated companies for the nine months ended September 30, 2022 were as follows:
|  |  |  |  |  |  |  |  |  | Nine months ended September 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Fair value at |  |  |  |  |  |  |  |  |  |  | Transfers |  |  |  |  |  |  | Net |  |  |  |  |  |  | Fair value at |  |  |  |  |
Portfolio |  | December 31, |  |  |  |  |  |  |  |  |  |  | in/(out) at |  |  | Discount |  |  | unrealized |  |  | Net realized |  |  | September 30, |  |  | Interest |
Company |  | 2021 |  |  | Purchases |  |  | Sales |  |  | fair value |  |  | Accretion |  |  | gain/(loss) |  |  | gain/(loss) |  |  | 2022 |  |  | income |
|  | (In thousands) |
MVI (ABC) LLC fka StereoVision, Inc. |  |  | — |  |  |  | — |  |  |  | (30 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 30 |  |  |  | — |  |  |  | — |
Total non-controlled affiliates |  | $ | — |  |  | $ | — |  |  | $ | (30 | ) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 30 |  |  | $ | — |  |  | $ | — |
A controlled affiliated company is generally a portfolio company in which the Company owns more than 25% of such portfolio company’s voting securities or has the power to exercise control over management or policies of such portfolio company (including through a management agreement). Transactions related to investments in controlled affiliated companies for the three months ended September 30, 2023 were as follows:
|  |  |  |  |  |  |  |  |  | Three months ended September 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Fair value at |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Transfers |  |  |  |  |  |  | Net |  |  |  |  |  |  | Fair value at |  |  |  |  |
Portfolio |  | June 30, |  |  |  |  |  |  | Principal |  |  |  |  |  |  | in/(out) at |  |  | Discount |  |  | unrealized |  |  | Net realized |  |  | September 30, |  |  | Interest |
Company |  | 2023 |  |  | Purchases |  |  | Payments |  |  | PIK |  |  | fair value |  |  | accretion |  |  | gain/(loss) |  |  | gain/(loss) |  |  | 2023 |  |  | income |
|  | (In thousands) |
Better Place Forests Co. |  | $ | — |  |  | $ | 59 |  |  | $ | — |  |  | $ | 105 |  |  | $ | 1,759 |  |  | $ | 2 |  |  | $ | 1,080 |  |  | $ | — |  |  | $ | 3,005 |  |  | $ | 111 |
|  |  | — |  |  |  | — |  |  |  | — |  |  |  | 53 |  |  |  | 844 |  |  |  | 1 |  |  |  | 536 |  |  |  | — |  |  |  | 1,434 |  |  |  | 55 |
|  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,061 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,061 |  |  |  | — |
|  |  | — |  |  |  | 750 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (259 | ) |  |  | — |  |  |  | 491 |  |  |  | — |
HIMV LLC |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 6,154 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 6,154 |  |  |  | — |
Total controlled affiliates |  | $ | — |  |  | $ | 809 |  |  | $ | — |  |  | $ | 158 |  |  | $ | 10,818 |  |  | $ | 3 |  |  | $ | 1,357 |  |  | $ | — |  |  | $ | 13,145 |  |  | $ | 166 |
Transactions related to investments in controlled affiliated companies for the nine months ended September 30, 2023 were as follows:
|  |  |  |  |  |  |  |  |  | Nine months ended September 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Fair value at |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Transfers |  |  |  |  |  |  | Net |  |  |  |  |  |  | Fair value at |  |  |  |  |
Portfolio |  | December 31, |  |  |  |  |  |  | Principal |  |  |  |  |  |  | in/(out) at |  |  | Discount |  |  | unrealized |  |  | Net realized |  |  | September 30, |  |  | Interest |
Company |  | 2022 |  |  | Purchases |  |  | Payments |  |  | PIK |  |  | fair value |  |  | accretion |  |  | gain/(loss) |  |  | gain/(loss) |  |  | 2023 |  |  | income |
|  | (In thousands) |
Better Place Forests Co. |  | $ | — |  |  | $ | 59 |  |  | $ | — |  |  | $ | 105 |  |  | $ | 1,759 |  |  | $ | 2 |  |  | $ | 1,080 |  |  | $ | — |  |  | $ | 3,005 |  |  | $ | 111 |
|  |  | — |  |  |  | — |  |  |  | — |  |  |  | 53 |  |  |  | 844 |  |  |  | 1 |  |  |  | 536 |  |  |  | — |  |  |  | 1,434 |  |  |  | 55 |
|  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,061 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,061 |  |  |  | — |
|  |  | — |  |  |  | 750 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (259 | ) |  |  | — |  |  |  | 491 |  |  |  | — |
HIMV LLC |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 6,154 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 6,154 |  |  |  | — |
Total controlled affiliates |  | $ | — |  |  | $ | 809 |  |  | $ | — |  |  | $ | 158 |  |  | $ | 10,818 |  |  | $ | 3 |  |  | $ | 1,357 |  |  | $ | — |  |  | $ | 13,145 |  |  | $ | 166 |
Transactions related to investments in controlled affiliated companies for the three months ended September 30, 2022 were as follows:
|  |  |  |  |  |  |  |  |  | Three months ended September 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Fair value at |  |  |  |  |  |  |  |  |  |  | Transfers |  |  |  |  |  |  | Net |  |  |  |  |  |  | Fair value at |  |  |  |  |
Portfolio |  | June 30, |  |  |  |  |  |  |  |  |  |  | in/(out) at |  |  | Discount |  |  | unrealized |  |  | Net realized |  |  | September 30, |  |  | Interest |
Company |  | 2022 |  |  | Purchases |  |  | Sales |  |  | fair value |  |  | Accretion |  |  | gain/(loss) |  |  | gain/(loss) |  |  | 2022 |  |  | income |
|  | (In thousands) |
HESP LLC |  |  | — |  |  |  | — |  |  |  | (50 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 50 |  |  |  | — |  |  |  | — |
Total controlled affiliates |  | $ | — |  |  | $ | — |  |  | $ | (50 | ) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 50 |  |  | $ | — |  |  | $ | — |
Transactions related to investments in controlled affiliated companies for the nine months ended September 30, 2022 were as follows:
|  |  |  |  |  |  |  |  |  | Nine months ended September 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Fair value at |  |  |  |  |  |  |  |  |  |  | Transfers |  |  |  |  |  |  | Net |  |  |  |  |  |  | Fair value at |  |  |  |  |
Portfolio |  | December 31, |  |  |  |  |  |  |  |  |  | in/(out) at |  |  | Discount |  |  | unrealized |  |  | Net realized |  |  | September 30, |  |  | Interest |
Company |  | 2021 |  |  | Purchases |  |  | Sales |  |  | fair value |  |  | accretion |  |  | gain/(loss) |  |  | gain/(loss) |  |  | 2022 |  |  | income |
|  | (In thousands) |
HESP LLC |  |  | — |  |  |  | — |  |  |  | (300 | ) |  |  | — |  |  |  | — |  |  |  | 1,450 |  |  |  | (1,150 | ) |  |  | — |  |  |  | — |
Total controlled affiliates |  | $ | — |  |  | $ | — |  |  | $ | (300 | ) |  | $ | — |  |  | $ | — |  |  | $ | 1,450 |  |  | $ | (1,150 | ) |  | $ | — |  |  | $ | — |

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- Definition The entire disclosure for the information summarizing investments in and advances to majority-owned subsidiaries, other controlled companies, and other affiliates. It reflects specified information about ownership, financial results from, and financial position in such entities. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 320 -Name Accounting Standards Codification -Section S99 -Paragraph 6 -Subparagraph (SX 210.12-14(Column E)(Footnote 6)(b)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480032/946-320-S99-6 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 320 -Name Accounting Standards Codification -Section S99 -Paragraph 6 -Subparagraph (SX 210.12-14(Column E)(Footnote 6)(c)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480032/946-320-S99-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 320 -Name Accounting Standards Codification -Section S99 -Paragraph 6 -Subparagraph (SX 210.12-14(Column A)(Footnote 1)(b)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480032/946-320-S99-6 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 946 -SubTopic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//946-320/tableOfContent + Details
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