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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash Flows from Operating Activities      
Net change in net assets resulting from operations $ (38,124,247) $ 5,066,822 $ (132,177,053)
Adjustments to reconcile net change in net assets resulting from operations to net cash provided by/(used in) operating activities:      
Net realized loss on investments 5,020,314 11,947,504 5,905,453
Net change in unrealized (appreciation)/depreciation of investments 18,968,978 (30,453,935) 111,563,592
Amortization of discount on 6.00% Notes due 2026 468,999 319,092 425,550
Amortization of discount on 6.50% Convertible Notes due 2029 73,196
Stock-based compensation 1,738,687 2,448,807 2,015,600
Adjustments to escrow proceeds receivable (331,816) 117,136 (859,121)
Accrued interest on U.S. Treasury bills 18,150 13,024
Purchases of investments in:      
Portfolio investments (75,064,900) (24,485,431) (22,783,388)
U.S. Treasury bills (253,585,717) (184,172,673)
Proceeds from sales or maturity of investments in:      
Portfolio investments 26,107,936 16,008,100 9,063,919
U.S. Treasury bills 63,792,704 274,792,611 99,173,075
Change in operating assets and liabilities:      
Proceeds receivable 52,493
Escrow proceeds receivable 263,995 319,039 1,418,313
Prepaid expenses and other assets (361,028) 232,404 210,978
Interest and dividends receivable (623,415) 6,159 (55,111)
Accounts payable and accrued expenses 422,086 (362,519) (166,220)
Accrued interest payable (175,000)
Net Cash Provided by /(Used in) Operating Activities 2,369,639 2,383,096 (110,559,593)
Cash Flows from Financing Activities      
Proceeds from the issuance of common stock, net 229,896
Gross proceeds from the issuance of 6.50% Convertible Notes due 2029 30,000,000
Deferred debt issuance costs (1,021,789)
Repurchases of 6.00% Notes due 2026 (30,076,852)
Realized loss on partial repurchase of 6.00% Notes due 2026 183,668
Repurchases of common stock (9,400,000) (14,178,685) (21,452,541)
Deferred financing costs (53,721) (1,540)
Cash dividends paid (143,657) (143,657) (26,535,702)
Net Cash Used in Financing Activities (10,512,351) (14,322,342) (47,759,887)
Total Decrease in Cash Balance (8,142,712) (11,939,246) (158,319,480)
Cash Balance at Beginning of Year 28,178,352 40,117,598 198,437,078
Cash Balance at End of Year 20,035,640 28,178,352 40,117,598
Supplemental Information:      
Interest paid 4,359,287 4,500,000 4,662,500
Taxes paid 88,692 533,894 82,238
Right of use asset obtained in exchange for operating lease liabilities $ 466,029