XML 33 R23.htm IDEA: XBRL DOCUMENT v3.23.1
INVESTMENTS (Tables)
 3 Months Ended
Mar. 31, 2023
INVESTMENTS [Abstract]  
Portfolio Investments
The Company’s portfolio investments are in companies conducting business in or supporting the cannabis industries. The following tables summarize the composition of the Company’s portfolio investments by industry at cost and fair value and as a percentage of the total portfolio as of March 31, 2023 and December 31, 2022.
 

   
March 31, 2023
  
   
Amortized Cost
  
Fair Value
  
Industry
  
Amount
  
%
  
Amount
  
%
  
Wholesale Trade
    
$
54,910,290
      
100.0
%
  
$
55,623,299
      
100.0
%
Total
    
$
54,910,290
      
100.0
%
  
$
55,623,299
      
100.0
%
 
   
December 31, 2022
  
   
Amortized Cost
  
Fair Value
  
Industry
  
Amount
  
%
  
Amount
  
%
  
Wholesale Trade
    
$
50,527,898
      
100.0
%
  
$
50,254,550
      
100.0
%
Total
    
$
50,527,898
      
100.0
%
  
$
50,254,550
      
100.0
%

The geographic composition is determined by the location of headquarters of the portfolio company. The following tables summarize the composition of the Company’s portfolio investments by geographic region of the United States at cost and fair value and as a percentage of the total portfolio as of March 31, 2023 and December 31, 2022. Geographic regions are defined as:  West, for the states of WA, OR, ID, MT, WY, CO, AK, HI, UT, NV and CA; Midwest, for the states ND, SD, NE, KS, MO, IA, MN, WI, MI, IL, IN and OH; Northeast, for the states PA, NJ, NY, CT, RI, MA, VT, NH and ME; Southeast, for the states of AR, LA, MS, TN, KY, AL, FL, GA, SC, NC, VA, DE, WV and MD; and Southwest, for the states of AZ, NM, TX and OK.
 
   
March 31, 2023
  
   
Amortized Cost
  
Fair Value
  
Geographic Location
  
Amount
  
%
  
Amount
  
%
  
Midwest
    
$
24,472,332
      
44.5
%
  
$
24,959,628
      
44.9
%
West
      
20,509,585
      
37.4
   
20,571,719
      
37.0
Northeast
      
8,130,300
      
14.8
   
8,287,292
      
14.9
Southeast
      
1,798,073
      
3.3
   
1,804,660
      
3.2
Total
    
$
54,910,290
      
100.0
%
  
$
55,623,299
      
100.0
%

   
December 31, 2022
  
   
Amortized Cost
    
Fair Value
  
Geographic Location
  
Amount
    
%
    
Amount
    
%
  
Midwest
  
$
24,420,752
      
48.4
%
  
$
24,358,686
      
48.5
%
West
    
20,479,987
      
40.5
   
20,268,705
      
40.3
Northeast
    
3,854,475
      
7.6
   
3,854,475
      
7.7
Southeast
    
1,772,684
      
3.5
   
1,772,684
      
3.5
Total
  
$
50,527,898
      
100.0
%
  
$
50,254,550
      
100.0
%

The following tables summarize the composition of the Company’s portfolio investments by investment type at cost and fair value and as a percentage of the total portfolio as of March 31, 2023 and December 31, 2022.
 
   
March 31, 2023
  
   
Amortized Cost
  
Fair Value
  
Investment
  
Amount
  
%
  
Amount
  
%
  
Senior Secured First Lien Term Loan
    
$
45,176,109
      
82.3
%
  
$
45,703,391
      
82.2
%
Senior Secured Notes
      
9,734,181
      
17.7
   
9,919,908
      
17.8
Total
    
$
54,910,290
      
100.0
%
  
$
55,623,299
      
100.0
%
 
   
December 31, 2022
  
   
Amortized Cost
  
Fair Value
  
Investment
  
Amount
  
%
  
Amount
  
%
  
Senior Secured First Lien Term Loan
    
$
40,871,914
      
80.9
%
  
$
40,660,633
      
80.9
%
Senior Secured Notes
      
9,655,984
      
19.1
   
9,593,917
      
19.1
Total
    
$
50,527,898
      
100.0
%
  
$
50,254,550
      
100.0
%