XML 11 R4.htm IDEA: XBRL DOCUMENT v3.25.1
Consolidated Statements of Operations (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Investment Income:    
Total interest income $ 3,503,180 $ 5,590,163
Total payment-in-kind interest income 441,268 633,318
Total dividend income 81,607 54,138
Total payment-in-kind dividend income 221,685 198,123
Total other fee income 121,024 142,347
Total investment income 4,368,764 6,618,089
Expenses:    
Interest expense 1,831,967 2,174,195
Base management fees 848,036 951,799
Income-based incentive fees 0 0
Professional fees 341,283 354,934
Allocation of administrative costs from Adviser 254,023 225,856
Amortization of deferred debt issuance costs 153,824 152,591
Amortization of original issue discount - 2026 Notes 17,777 17,777
Insurance expense 120,502 125,766
Directors' fees 76,500 75,157
Custodian and administrator fees 74,237 68,031
Other expenses 40,173 379,406
Total expenses 3,758,322 4,525,512
Net expenses 3,684,179 4,428,081
Net investment income before taxes 684,585 2,190,008
Income tax expense, including excise tax expense 81,059 111,646
Net investment income after taxes 603,526 2,078,362
Net realized gain (loss) from investments    
Net realized gain (loss) from investments (1,627,282) (6,271,968)
Net change in unrealized appreciation (depreciation) in value of investments    
Net change in unrealized appreciation (depreciation) on investments 3,230,048 6,605,346
Total realized gain (loss) and change in unrealized appreciation (depreciation) on investments 1,602,766 333,378
Net increase (decrease) in net assets resulting from operations $ 2,206,292 $ 2,411,740
Earnings (Loss) per share - basic $ 0.15 $ 0.17
Earnings (Loss) per share - diluted $ 0.15 $ 0.17
Weighted average shares of common stock outstanding - basic 14,412,994 14,396,951
Weighted average shares of common stock outstanding - diluted 14,412,994 14,396,951
Distributions paid per common share $ 0.12 $ 0.15
Base Management Fees [Member]    
Expenses:    
Waiver of base management fees $ (74,143) $ (97,431)
Income-Based Incentive Fees [Member]    
Expenses:    
Waiver of income-based incentive fees 0 0
Non-Controlled, Non-Affiliated Investments    
Investment Income:    
Total interest income 3,488,202 5,561,333
Total payment-in-kind interest income 419,888 613,765
Total dividend income 81,607 54,138
Total payment-in-kind dividend income 221,685 198,123
Total other fee income 121,024 142,347
Net realized gain (loss) from investments    
Net realized gain (loss) from investments (1,627,282) (31,984)
Net change in unrealized appreciation (depreciation) in value of investments    
Net change in unrealized appreciation (depreciation) on investments 3,379,849 1,089,608
Non-Controlled, Affiliated Investments    
Investment Income:    
Total interest income 14,978 28,830
Total payment-in-kind interest income 21,380 19,553
Total dividend income 0 0
Total payment-in-kind dividend income 0 0
Total other fee income 0 0
Net realized gain (loss) from investments    
Net realized gain (loss) from investments 0 (6,239,984)
Net change in unrealized appreciation (depreciation) in value of investments    
Net change in unrealized appreciation (depreciation) on investments $ (149,801) $ 5,515,738