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Financial Highlights | 12 Months Ended
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Sep. 30, 2023
Investment Company, Financial Highlights [Abstract] |
Financial Highlights | Note 12. Financial Highlights The following is a schedule of financial highlights for the years ended September 30, 2023, 2022, 2021, 2020 and 2019:
|  | For the Years Ended September 30, |
|  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2020 |  |  | 2019 |
Per share data |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net Asset Value per share at Beginning of Period |  | $ | 57.49 |  |  | $ | 57.08 |  |  | $ | 55.30 |  |  | $ | 79.46 |  |  | $ | 117.92 |
Results of Operations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net Investment Income/(Loss)(1) |  |  | 3.11 |  |  |  | 1.48 |  |  |  | 6.92 |  |  |  | (1.00 | ) |  |  | (7.66 | )
Net Realized Gain/(Loss) on Investments |  |  | (5.51 | ) |  |  | 2.24 |  |  |  | (15.86 | ) |  |  | (18.35 | ) |  |  | (41.18 | )
Net Unrealized Gain/(Loss) on Investments |  |  | 15.27 |  |  |  | (6.22 | ) |  |  | 9.47 |  |  |  | (3.90 | ) |  |  | 14.13 |
Net loss on extinguishment of debt |  |  | - |  |  |  | (0.13 | ) |  |  | (0.05 | ) |  |  | (0.91 | ) |  |  | (0.75 | )
Net Increase (Decrease) in Net Assets Resulting from Operations |  |  | 12.87 |  |  |  | (2.63 | ) |  |  | 0.48 |  |  |  | (24.16 | ) |  |  | (35.46 | )
Capital Share Transactions |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Distributions declared |  |  | - |  |  |  | (0.12 | ) |  |  | - |  |  |  | - |  |  |  | (3.00 | )
Repurchase of common stock under stock repurchase program |  |  | 0.39 |  |  |  | 3.16 |  |  |  | 1.30 |  |  |  | - |  |  |  | - |
Net Increase (Decrease) Resulting from Capital Share Transactions |  |  | 0.39 |  |  |  | 3.04 |  |  |  | 1.30 |  |  |  | - |  |  |  | (3.00 | )
Net Asset Value per share at End of Period |  | $ | 70.75 |  |  | $ | 57.49 |  |  | $ | 57.08 |  |  | $ | 55.30 |  |  | $ | 79.46 |
Net Assets at End of Period |  | $ | 146,705,535 |  |  | $ | 120,845,408 |  |  | $ | 143,693,981 |  |  | $ | 150,619,517 |  |  | $ | 216,432,530 |
Shares Outstanding at End of Period |  |  | 2,073,713 |  |  |  | 2,102,129 |  |  |  | 2,517,221 |  |  |  | 2,723,709 |  |  |  | 2,723,709 |
Per share market value at end of period |  | $ | 37.90 |  |  | $ | 34.88 |  |  | $ | 42.90 |  |  | $ | 17.83 |  |  | $ | 51.80 |
Total return based on market value(2) |  |  | 8.66 | % |  |  | (18.69 | )% |  |  | 140.61 | % |  |  | (65.58 | )% |  |  | (29.91 | )%
Total return based on net asset value (3) |  |  | 21.40 | % |  |  | (15.90 | )% |  |  | (4.60 | )% |  |  | (30.41 | )% |  |  | (29.47 | )%
Portfolio turnover rate |  |  | 32.62 | % |  |  | 69.43 | % |  |  | 24.97 | % |  |  | 5.66 | % |  |  | 11.93 | %
Ratios: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ratio of net investment/(loss) income to average net assets after waivers, discounts and reimbursements |  |  | 4.80 | % |  |  | 2.55 | % |  |  | 12.44 | % |  |  | (1.64 | )% |  |  | (7.96 | )%
Ratio of total expenses to average net assets |  |  | 10.04 | % |  |  | 9.02 | % |  |  | 9.26 | % |  |  | 14.64 | % |  |  | 25.62 | %
Supplemental Data: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Percentage of non-recurring fee income |  |  | 1.61 | % |  |  | 2.70 | % |  |  | 7.94 | % |  |  | 2.33 | % |  |  | 4.29 | %
Average debt outstanding(4) |  | $ | 81,599,762 |  |  | $ | 85,397,690 |  |  | $ | 82,930,098 |  |  | $ | 189,038,998 |  |  | $ | 347,991,878 |
Average debt outstanding per weighted average common share |  | $ | 39.18 |  |  | $ | 36.75 |  |  | $ | 30.97 |  |  | $ | 69.40 |  |  | $ | 127.76 |
Asset coverage ratio per unit(5) |  | $ | 2,707 |  |  | $ | 2,550 |  |  | $ | 2,856 |  |  | $ | 1,992 |  |  | $ | 1,842 |
2021 Notes(6) |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 74,012,825 |  |  | $ | 74,012,825 |
2023 Notes |  | $ | - |  |  | $ | 22,521,800 |  |  | $ | 77,846,800 |  |  | $ | 77,846,800 |  |  | $ | 77,846,800 |
2028 Notes |  | $ | 57,500,000 |  |  | $ | 57,500,000 |  |  | $ | - |  |  | $ | - |  |  | $ | - |
Credit Facility |  | $ | 28,441,941 |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
Israeli Notes(7) |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 105,136,927 |
(1) | Net investment income/(loss) excluding management and incentive fee waivers, discounts and reimbursements based on total weighted average common stock outstanding equals $3.11, $1.48, $6.92, $(3.35), and $(7.66) per share for the years ended September 30, 2023, 2022, 2021, 2020, and 2019, respectively.
(2) | Total return is historical and assumes changes in share price, reinvestments of all dividends and distributions at prices obtained under the Company’s dividend reinvestment plan, and no sales charge for the period.
(3) | Total return is historical and assumes changes in NAV, reinvestments of all dividends and distributions at prices obtained under the Company’s dividend reinvestment plan, and no sales charge for the period.
(4) | Based on daily weighted average carrying value of debt outstanding during the period.
(5) | Asset coverage per unit is the ratio of the carrying value of our total consolidated assets, less all liabilities and indebtedness not represented by senior securities, to the aggregate amount of senior securities representing indebtedness. Asset coverage per unit is expressed in terms of dollar amounts per $1,000 of indebtedness.
As of September 30, 2023, the Company’s asset coverage was 270.7% after giving effect to leverage and therefore the Company’s asset coverage was above 200%, the minimum asset coverage requirement under the 1940 Act.
(6) | During the year ended September 30, 2021, the 2021 Notes were redeemed in full and ceased trading on November 20, 2020. The average price for the year ended September 30, 2021 reflects the period from October 1, 2020 through November 20, 2020.
(7) | During the year ended September 30, 2020, the Israeli Notes were redeemed in full and ceased trading on the TASE on April 14, 2020.

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