XML 14 R4.htm IDEA: XBRL DOCUMENT v3.23.1
Consolidated Statements of Operations (Unaudited) - USD ($)
 3 Months Ended 9 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Mar. 31, 2023
Mar. 31, 2022
Investment Income:        
Total interest income $ 6,314,620 $ 5,409,376 $ 18,163,636 $ 17,475,459
Total payment-in-kind interest income 592,722 94,522 1,147,978 284,155
Total dividend income 0 0 101,755 296,126
Total other fee income 98,498 412,516 670,926 554,254
Total investment income 7,005,840 5,916,414 20,084,295 18,609,994
Expenses:        
Interest expense 2,166,739 1,527,148 6,119,083 5,059,231
Base management fees 1,043,306 1,161,530 3,204,391 3,413,139
Income-based incentive fees 0 0 (147,145) 0
Provision for tax expense 77,575 242,658 187,763 270,618
Professional fees 271,784 342,205 815,347 947,964
Allocation of administrative costs from Adviser 375,900 348,849 1,127,700 1,052,249
Amortization of deferred debt issuance costs 173,333 173,334 520,000 447,778
Amortization of original issue discount 2026 Notes 17,777 17,777 53,332 53,332
Insurance expense 120,093 132,259 395,734 374,527
Directors' fees 75,625 75,625 226,875 226,875
Custodian and administrator fees 74,397 73,161 217,913 221,005
Other expenses 151,093 154,148 426,908 469,003
Total expenses 4,547,622 4,248,694 13,147,901 12,535,721
Waiver of base management fees (89,939) (128,831) (296,566) (352,645)
Waiver of income-based incentive fees 0 0 0 0
Net expenses 4,457,683 4,119,863 12,851,335 12,183,076
Net Investment Income 2,548,157 1,796,551 7,232,960 6,426,918
Net realized gain (loss) from investments        
Net realized gain (loss) from investments (26,890,095) (6,607,419) (26,890,095) (14,390,976)
Net change in unrealized appreciation (depreciation) in value of investments        
Net change in unrealized appreciation (depreciation) on investments 23,237,794 4,747,787 20,827,357 14,637,324
Total realized gain (loss) and change in unrealized appreciation (depreciation) on investments (3,652,301) (1,859,632) (6,062,738) 246,348
Net increase (decrease) in net assets resulting from operations $ (1,104,144) $ (63,081) $ 1,170,222 $ 6,673,266
Net investment income per share $ 0.18 $ 0.12 $ 0.50 $ 0.45
Earnings per share - Basic $ (0.08) $ (0.00) $ 0.08 $ 0.47
Weighted average shares of common stock outstanding - Basic 14,389,868 14,384,988 14,388,295 14,277,683
Distributions paid per common share $ 0.15 $ 0.15 $ 0.45 $ 0.45
Earnings per share - diluted $ (0.08) $ (0.00) $ 0.08 $ 0.47
Weighted average shares of common stock outstanding - diluted 14,389,868 14,384,988 14,388,295 14,277,683
Non-controlled, non-affiliated investments        
Investment Income:        
Total interest income $ 6,314,620 $ 5,430,305 $ 18,184,247 $ 17,375,069
Total payment-in-kind interest income 575,231 79,679 1,096,040 117,143
Total dividend income 0 0 101,755 0
Total other fee income 98,498 412,516 670,926 552,744
Net realized gain (loss) from investments        
Net realized gain (loss) from investments (26,890,095) (6,607,419) (26,890,095) (6,194,307)
Net change in unrealized appreciation (depreciation) in value of investments        
Net change in unrealized appreciation (depreciation) on investments 24,505,471 5,595,748 22,391,835 8,064,316
Affiliate Investments        
Investment Income:        
Total interest income 0 20,929 20,611 100,390
Total payment-in-kind interest income 17,491 14,843 51,938 167,012
Total dividend income 0 0 0 296,126
Total other fee income 0 0 0 1,510
Net realized gain (loss) from investments        
Net realized gain (loss) from investments 0 0 0 (8,196,669)
Net change in unrealized appreciation (depreciation) in value of investments        
Net change in unrealized appreciation (depreciation) on investments $ (1,267,677) $ (847,961) $ (1,564,478) $ 6,573,008