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Investments (Tables)
 3 Months Ended
Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]  
Schedule of investments at amortized cost and fair value
   Amortized Cost   Percentage   Fair Value   Percentage 
Senior Secured First Lien Term Loans  $129,910    51.6%  $88,691    48.4%
Senior Secured Notes   2,252    0.9    1,617    0.9 
Unsecured Debt   182    0.1    -    - 
Equity/Warrants   119,127    47.4    92,963    50.7 
Total Investments  $251,471    100.0%  $183,271    100.0%

 

   Amortized Cost   Percentage   Fair Value   Percentage 
Senior Secured First Lien Term Loans  $128,482    48.7%  $88,248    45.6%
Senior Secured Second Lien Term Loans   2,603    1.0    2,607    1.4 
Senior Secured Notes   2,252    0.9    1,659    0.9 
Unsecured Debt   182    0.1    -    - 
Equity/Warrants   129,929    49.3    100,443    52.1 
Total Investments  $263,448    100.0%  $192,957    100.0%

 
Schedule of portfolio composition by industry grouping at fair value
   Fair Value   Percentage 
         
Services: Business  $42,167    23.0%
Banking, Finance, Insurance & Real Estate   35,012    19.1 
Hotel, Gaming & Leisure   32,073    17.5 
Services: Consumer   17,618    9.6 
Construction & Building   17,404    9.4 
Media: Broadcasting & Subscription   10,356    5.7 
Automotive   7,514    4.1 
High Tech Industries   5,342    2.9 
Consumer Discretionary   4,916    2.7 
Energy: Oil & Gas   4,755    2.6 
Packaging   3,353    1.8 
Metals & Mining   2,640    1.4 
Retail   121    0.1 
Total  $183,271    100.0%

 

   Fair Value   Percentage 
         
Services: Business  $52,851    27.4%
Hotel, Gaming & Leisure   31,947    16.6 
Banking, Finance, Insurance & Real Estate   31,910    16.5 
Services: Consumer   21,243    11.0 
Construction & Building   17,724    9.1 
Automotive   8,075    4.2 
Consumer Discretionary   6,208    3.2 
High Tech Industries   5,465    2.8 
Media: Broadcasting & Subscription   4,220    2.2 
Energy: Oil & Gas   4,152    2.2 
Packaging   3,361    1.7 
Metals & Mining   3,073    1.6 
Aerospace & Defense   2,607    1.4 
Retail   121    0.1 
Total  $192,957    100.0%

 
Schedule of portfolio composition by geographic location at fair value
   Fair Value   Percentage 
Northeast  $85,952    46.9%
Southeast   51,451    28.1 
West   19,453    10.6 
Midwest   14,869    8.1 
Southwest   6,049    3.3 
Mid-Atlantic   162    0.1 
Other(1)   5,335    2.9 
Total  $183,271    100.0%

 

   Fair Value   Percentage 
Northeast  $92,939    48.2%
Southeast   51,797    26.8 
West   20,196    10.5 
Midwest   16,023    8.3 
Southwest   6,288    3.3 
Mid-Atlantic   265    0.1 
Other(1)   5,449    2.8 
Total  $192,957    100.0%

 
Schedule of transactions with affiliated investments and controlled Investments
Name of Investment(1)(2)  Type of Investment  Fair Value at
September 30,
2022		   Purchases/
(Sales) of 
or 
Advances/
(Distributions)		   Transfers
In/(Out)
of 
Affiliates		   Unrealized
Gain/(Loss)		   Realized
Gain/(Loss)		   Fair
Value
at
December 31,
2022		   Earned
Income		 
Affiliated Investments                                      
1888 Industrial Services, LLC  Senior Secured First Lien Term Loan C  $-   $-   $         -   $123,193   $          -   $123,193   $27,308 
   Revolving Credit Facility   4,151,562    215,622    -    264,993    -    4,632,177    97,647 
Black Angus Steakhouses, LLC  Senior Secured First Lien Delayed Draw Term Loan   758,929    -    -    -    -    758,929    24,693 
   Senior Secured First Lien Term Loan   1,547,918    -    -    117,776    -    1,665,694    - 
   Senior Secured First Lien Super Priority DDTL   1,500,000    -    -    -    -    1,500,000    48,805 
Kemmerer Operations, LLC  Senior Secured First Lien Term Loan   2,378,510    (813,559)   -    -    -    1,564,951    89,743 
   Equity   694,702    -    -    380,742    -    1,075,444    - 
US Multifamily, LLC  Equity   1,282,571    -    -    (171,167)   -    1,111,404    - 
Total Affiliated Investments     $12,314,192   $(597,937)  $-   $715,537   $-   $12,431,792   $288,196 

 

Name of Investment(1)(2)   Type of Investment   Fair Value at
September 30,
2022		     Purchases/(Sales)
of or Advances/
(Distributions)		     Transfers
In/(Out)
of Affiliates		     Unrealized Gain/(Loss)     Realized
Gain/(Loss)		     Fair Value at
December 31,
2022		     Earned
Income		  
Controlled Investments                                          
FlexFIN, LLC   Equity Interest   $ 47,136,146     $ (10,467,262 )   $ -     $ 1,627     $ -     $ 36,670,511     $ 1,210,200  
NVTN LLC   Senior Secured First Lien Delayed Draw Term Loan     7,192,927       -       -       51,169       -       7,244,096       194,627  
    Senior Secured First Lien Term Loan B     3,697,109       -       -       -       -       3,697,109       -  
Total Controlled Investments       $ 58,026,182     $ (10,467,262 )   $ -     $ 52,796     $ -     $ 47,611,716     $ 1,404,827  

 

Name of Investment(1)(2)    Type of Investment  Fair Value at
September 30,
2021		   Purchases/(Sales)
of or Advances/
(Distributions)		   Transfers
In/(Out)
of Affiliates		   Unrealized Gain/(Loss)   Realized
Gain/(Loss)		   Fair Value at
December 31,
2021		   Earned
Income		 
Affiliated Investments                                        
1888 Industrial Services, LLC    Senior Secured First Lien Term Loan B  $-   $-   $         -   $19,468,870   $(19,468,870)  $-   $- 
     Senior Secured First Lien Term Loan C   24,639    -    -    (24,639)   -    -    - 
     Revolving Credit Facility   3,554,069    -    -    -    -    3,554,069    - 
Black Angus Steakhouses, LLC    Senior Secured First Lien Delayed Draw Term Loan   758,929    -    -    -    -    758,929    19,395 
     Senior Secured First Lien Term Loan   2,279,814    -    -    (529,994)   -    1,749,820    - 
     Senior Secured First Lien Super Priority DDTL   1,500,000    -    -    -    -    1,500,000    38,333 
Caddo Investors Holdings 1 LLC    Equity   3,454,786    (3,448,219)   -    (925,960)   919,393    -    - 
Dynamic Energy Services International LLC    Senior Secured First Lien Term Loan   -    (4,910,671)   -    7,328,568    (2,417,897)   -    - 
JFL-NGS Partners, LLC    Equity   26,862,813    (26,807,520)   -    (26,805,513)   26,750,220    -    - 
JFL-WCS Partners, LLC    Equity   8,099,949    (8,084,639)   -    (7,970,361)   7,955,051    -    - 
Kemmerer Operations, LLC    Senior Secured First Lien Term Loan   2,360,547    91,309    -    4,125    -    2,455,981    91,347 
     Senior Secured First Lien Delayed Draw Term Loan   162,441    (129,875)   -    (4,442)   -    28,124    5,665 
     Equity   553,746    -    -    (62,347)   -    491,399    - 
Path Medical, LLC    Senior Secured First Lien Term Loan A   2,249,835    -    -    (31,984)   -    2,217,851    - 
URT Acquisition Holdings Corporation    Warrants   920,000    (1,000,000)   -    (920,000)   1,000,000    -    - 
US Multifamily, LLC    Senior Secured First Lien Term Loan   2,577,416    -    -    -    -    2,577,416    64,435 
     Equity   2,236,261    -    -    (166)   -    2,236,095    - 
Total Affiliated Investments       $57,595,245   $(44,289,615)  $-   $(10,473,843)  $14,737,897   $17,569,684   $219,175 

 

Name of Investment(1)(2)  Type of Investment    Fair Value at
September 30,
2021		   Purchases/(Sales)
of or Advances/
(Distributions)		   Transfers
In/(Out)
of Affiliates		   Unrealized Gain/(Loss)   Realized
Gain/(Loss)		   Fair Value at
December 31,
2021		   Earned
Income		 
Controlled Investments                              
FlexFIN, LLC  Equity Interest    $2,500,000   $28,000,000   $        -   $-   $         -   $30,500,000   $398,844 
NVTN LLC  Senior Secured First Lien Delayed Draw Term Loan     6,414,860    -    -    6,566    -    6,421,426    - 
   Super Priority Senior Secured First Lien Term Loan     977,000    (500,000)   -    11,075    925    489,000    154,794 
Total Controlled Investments       $9,891,860   $27,500,000   $-   $17,641   $925   $37,410,426   $553,638 

 
Schedule of summarized balance sheet or financial position for Unconsolidated Significant Subsidiaries
Balance Sheet  December 31,
2022
(Unaudited)		   September 30,
2022
(Audited)		 
Total Assets  $36,670   $47,168 
Total Liabilities   54    12 

 
Schedule of summarized income statement or financial information for Unconsolidated Significant Subsidiaries
Income Statement  For the Three
Months Ended
December 31,
2022
(Unaudited)		   For the
Year Ended
September 30,
2022
(Audited)		 
Total Income  $1,085   $3,855 
Total Expenses   75    202 
Net Income  $1,010   $3,653