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Net Change in Net Assets Resulting from Operations Per Share
 12 Months Ended
Jun. 30, 2024
Earnings Per Share [Abstract]  
Net Change in Net Assets Resulting from Operations Per Share

Note 9. Net Change in Net Assets Resulting from Operations Per Share

Basic earnings per share is computed by dividing earnings available to common stockholders by the weighted average number of shares outstanding during the period. Other potentially dilutive common shares, and the related impact to earnings, are considered when calculating earnings per share on a diluted basis.

The following table sets forth the computation of the weighted average basic and diluted net increase in net assets per share from operations:

 

 

Year Ended June 30,

 

 

2024

 

 

2023

 

 

2022

Net increase (decrease) in net assets resulting from operations

 

$

(4,092,470)

 

$

3,234,503

 

$

2,586,630

Weighted average shares of common stock outstanding

 

 

14,396,201

 

 

14,389,163

 

 

14,304,641

Basic/diluted net increase (decrease) in net assets from operations per share

 

$

(0.28)

 

$

0.22

 

$

0.18

On September 3, 2021, the Company issued 453,985 shares of common stock, par value $0.001 per share to Investcorp at a price of $6.92 per share for an aggregate offering price of $3,141,576. The sale of the Company’s common stock to Investcorp BDC was made pursuant to the Stock Purchase Agreement and the issuance of the Company’s common stock was exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”), pursuant to Section 4(a)(2) thereof and Regulation D thereunder. Investcorp BDC is an “accredited investor” as that term is defined in Rule 501(a) of Regulation D under the Securities Act.