XML 52 R37.htm IDEA: XBRL DOCUMENT v3.24.4
Financial Highlights (Tables)
 12 Months Ended
Sep. 30, 2024
Investment Company, Financial Highlights [Abstract]  
Schedule of Financial Highlights The following is a schedule of financial highlights for the years ended September 30, 2024, 2023, 2022, 2021 and 2020:
    For the Years Ended September 30,  
    2024     2023     2022     2021     2020  
Per share data                              
Net Asset Value per share at Beginning of Period   $ 70.75     $ 57.49     $ 57.08     $ 55.30     $ 79.46  
                                         
Results of Operations:                                        
Net Investment Income/(Loss)(1)     2.32       3.11       1.48       6.92       (1.00 )
Net Realized Gain/(Loss) on Investments     3.57       (5.51 )     2.24       (15.86 )     (18.35 )
Net Unrealized Gain/(Loss) on Investments     2.81       15.27       (6.22 )     9.47       (3.90 )
Net loss on extinguishment of debt     -       -       (0.13 )     (0.05 )     (0.91 )
Deferred tax benefit (expense)     0.43       -       -       -       -  
Net Increase (Decrease) in Net Assets Resulting from Operations     9.13       12.87       (2.63 )     0.48       (24.16 )
                                         
Capital Share Transactions                                        
Distributions declared     (1.31 )     -       (0.12 )     -       -  
Repurchase of common stock under stock repurchase program(2)     0.80       0.39       3.16       1.30       -  
Net Increase (Decrease) Resulting from Capital Share Transactions     (0.51 )     0.39       3.04       1.30       -  
Net Asset Value per share at End of Period   $ 79.37     $ 70.75     $ 57.49     $ 57.08     $ 55.30  
                                         
Net Assets at End of Period   $ 160,307,773     $ 146,705,535     $ 120,845,408     $ 143,693,981     $ 150,619,517  
Shares Outstanding at End of Period     2,019,778       2,073,713       2,102,129       2,517,221       2,723,709  
                                         
Per share market value at end of period   $ 47.60     $ 37.90     $ 34.88     $ 42.90     $ 17.83  
Total return based on market value(3)     29.05 %     8.66 %     (18.69 %)     140.61 %     (65.58 %)
Total return based on net asset value(4)     11.08 %     21.40 %     (15.90 %)     (4.60 %)     (30.41 %)
Portfolio turnover rate     43.90 %     32.62 %     69.43 %     24.97 %     5.66 %
                                         
Ratios:                                        
Ratio of net investment/(loss) income to average net assets after waivers, discounts and reimbursements(5)     3.06 %     4.80 %     2.55 %     12.44 %     (1.64 %)
Ratio of total expenses to average net assets     11.27 %     10.04 %     9.02 %     9.26 %     14.64 %
                                         
Supplemental Data:                                        
Percentage of non-recurring fee income(5)     2.32 %     1.61 %     2.70 %     7.94 %     2.33 %
Average debt outstanding(6)   $ 88,467,130     $ 81,599,762     $ 85,397,690     $ 82,930,098     $ 189,038,998  
Average debt outstanding per weighted average common share   $ 43.36     $ 39.18     $ 36.75     $ 30.97     $ 69.40  
Asset coverage ratio per unit(7)   $ 2,168     $ 2,707     $ 2,550     $ 2,856     $ 1,992  
Senior Securities Outstanding(8)                                        
2021 Notes(9)   $ -     $ -     $ -     $ -     $ 74,012,825  
2023 Notes   $ -     $ -     $ 22,521,800     $ 77,846,800     $ 77,846,800  
2028 Notes   $ 57,500,000     $ 57,500,000     $ 57,500,000     $ -     $ -  
2028 Promissory Note   $ 1,661,498       -       -       -       -  
Credit Facility   $ 78,072,953     $ 28,241,941     $ -     $ -     $ -  
(1)Net investment income/(loss) excluding management and incentive fee waivers, discounts and reimbursements based on total weighted average common stock outstanding equals $2.32, $3.11, $1.48, $6.92 and $(3.35) per share for the years ended September 30, 2024, 2023, 2022, 2021, and 2020, respectively.
(2) The amount shown at this caption is the balancing amount derived from the other figures in the schedule. The amount shown at this caption for a share outstanding throughout the period may not agree with the repurchase of common stock because of the timing of repurchase of the Company’s shares.

 

(3) 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.
(4) Total return is historical and assumes changes in NAV, reinvestments of all dividends at prices obtained under the Company’s dividend reinvestment plan, and no sales charges for the period.
(5) Represents the impact of the non-recurring fees as a percentage of total investment income.
(6) Based on daily weighted average carrying value of debt outstanding during the period.
(7)

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, 2024, the Company’s asset coverage was 216.8% after giving effect to leverage and therefore the Company’s asset coverage was above 200%, the minimum asset coverage requirement under the 1940 Act.

(8) Total amount of each class of senior securities outstanding at the end of the period excluding debt issuance costs.
(9)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.