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INCOME TAXES (Tables)

6 Months Ended

Jun. 30, 2023

INCOME TAXES [Abstract]

Components of Accumulated Losses

As of March 31, 2023, the components of distributable earnings on a tax basis detailed below differ from the amounts reflected in the Company’s Statements of Assets and Liabilities by temporary book or tax differences primarily arising from the tax treatment of organizational costs.

		March 31, 2023
Undistributed ordinary income		$	3,418,714
Net unrealized appreciation (depreciation) on investments			713,009
Other temporary differences			(399,948	)
Total		$	3,731,775

Investments and Cash Equivalents for Federal Income tax

The following table sets forth the tax cost basis and the estimated aggregate gross unrealized appreciation and depreciation from investments and cash equivalents for federal income tax purposes as of  June 30, 2023, March 31, 2023, and December 31, 2022:

		June 30, 2023				March 31, 2023				December 31, 2022
Tax cost of investments and cash equivalents		$	89,465,059			$	87,454,317			$	85,653,218
Unrealized appreciation		$	394,377			$	713,009			$	-
Unrealized depreciation			(158,609	)			-				(273,348	)
Net unrealized appreciation (depreciation) from investments and cash equivalents		$	235,768			$	713,009			$	(273,348	)

X

- Definition

Tabular disclosure of the federal tax basis of investment holdings. This item captures the aggregate cost of securities, aggregate gross unrealized appreciation for all securities in which there is an excess of value over tax cost, aggregate gross unrealized depreciation for all securities in which there is an excess of tax cost over value, net unrealized appreciation (depreciation), and an explanation of the differences between tax and book.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-03(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479886/946-10-S99-3

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- References

No definition available.

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X

- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 9
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-9

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