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Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Investment Income:        
Total interest income $ 3,888,504 $ 4,674,329 $ 11,153,455 $ 14,339,129
Total payment-in-kind interest income 340,359 1,880,707 1,123,511 3,281,551
Total dividend income 0 0 81,607 54,138
Total payment-in-kind dividend income 0 212,979 452,742 615,400
Total other fee income 127,621 78,760 459,132 293,965
Total investment income 4,356,484 6,846,775 13,270,447 18,584,183
Expenses:        
Interest expense 2,029,835 1,857,409 5,717,997 5,988,599
Base management fees 877,923 840,459 2,577,693 2,681,973
Income-based incentive fees (18,802) 501,540 (137,550) 501,540
Professional fees 246,313 394,639 864,883 1,007,373
Allocation of administrative costs from Adviser 225,390 185,906 707,287 653,680
Amortization of deferred debt issuance costs 153,823 152,591 461,471 457,772
Amortization of original issue discount - 2026 Notes 17,778 17,778 53,333 53,333
Insurance expense 125,612 127,768 372,123 381,302
Directors' fees 76,500 94,529 226,500 243,186
Custodian and administrator fees 70,791 72,123 219,028 241,390
Other expenses 84,848 124,013 368,735 621,975
Total expenses 3,890,011 4,368,755 11,431,500 12,832,123
Waiver of base management fees (102,658) (69,578) (248,827) (239,908)
Waiver of income-based incentive fees 0 0 0 0
Net expenses 3,787,353 4,299,177 11,182,673 12,592,215
Net investment income before taxes 569,131 2,547,598 2,087,774 5,991,968
Income tax expense (benefit), including excise tax expense 60,666 221,655 371,635 278,561
Net investment income after taxes 508,465 2,325,943 1,716,139 5,713,407
Net realized gain (loss) from investments        
Net realized gain (loss) from investments 0 (4,056,505) 581,343 (12,157,003)
Net change in unrealized appreciation (depreciation) in value of investments        
Net change in unrealized appreciation (depreciation) on investments (1,768,995) 8,337,191 (1,786,018) 13,509,819
Total realized gain (loss) and change in unrealized appreciation (depreciation) on investments (1,768,995) 4,280,686 (1,204,675) 1,352,816
Net increase (decrease) in net assets resulting from operations $ (1,260,530) $ 6,606,629 $ 511,464 $ 7,066,223
Earnings (Loss) per share - basic $ (0.09) $ 0.46 $ 0.04 $ 0.49
Earnings (Loss) per share - diluted $ (0.09) $ 0.46 $ 0.04 $ 0.49
Weighted average shares of common stock outstanding - basic 14,431,202 14,403,752 14,421,267 14,400,619
Weighted average shares of common stock outstanding - diluted 14,431,202 14,403,752 14,421,267 14,400,619
Distributions declared per common share $ 0.14 $ 0.12 $ 0.38 $ 0.42
Non-Controlled, Non-Affiliated Investments        
Investment Income:        
Total interest income $ 3,888,504 $ 4,674,329 $ 11,155,389 $ 14,327,218
Total payment-in-kind interest income 340,359 1,859,938 1,102,374 3,221,182
Total dividend income 0 0 81,607 54,138
Total payment-in-kind dividend income 0 212,979 452,742 615,400
Total other fee income 127,621 78,760 459,132 293,965
Net realized gain (loss) from investments        
Net realized gain (loss) from investments 0 (4,056,505) 581,343 (5,917,019)
Net change in unrealized appreciation (depreciation) in value of investments        
Net change in unrealized appreciation (depreciation) on investments (1,307,380) 7,558,426 (779,718) 9,869,454
Non-Controlled, Affiliated Investments        
Investment Income:        
Total interest income 0 0 (1,934) 11,911
Total payment-in-kind interest income 0 20,769 21,137 60,369
Total dividend income 0 0 0 0
Total payment-in-kind dividend income 0 0 0 0
Total other fee income 0 0 0 0
Net realized gain (loss) from investments        
Net realized gain (loss) from investments 0 0 0 (6,239,984)
Net change in unrealized appreciation (depreciation) in value of investments        
Net change in unrealized appreciation (depreciation) on investments $ (461,615) $ 778,765 $ (1,006,300) $ 3,640,365