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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
INVESTMENT INCOME        
Interest income $ 19,617,468 $ 16,460,579 $ 50,392,437 $ 44,819,754
Other income 524,799 568,764 1,353,279 1,301,827
Total Investment Income 20,142,267 17,029,343 51,745,716 46,121,581
OPERATING EXPENSES        
Management fees 3,827,669 3,473,041 11,025,435 9,715,381
Valuation fees 145,865 141,012 315,482 289,447
Administrative services expenses 447,381 437,804 1,388,602 1,354,295
Income incentive fees 1,635,641 1,451,752 1,635,641 1,507,651
Capital gains incentive (reversal) fees (646,757) 1,742,904 (1,672,549) 1,840,572
Professional fees 315,809 267,332 845,275 772,509
Directors' fees 83,500 74,500 254,500 240,500
Insurance expense 127,274 120,119 377,671 356,439
Interest expense and other fees 6,448,280 4,854,388 16,864,255 13,869,834
Income tax expense 361,115 192,612 1,066,768 718,869
Other general and administrative expenses 207,170 209,779 766,562 796,338
Total Operating Expenses 12,952,947 12,965,243 32,867,642 31,461,835
Net Investment Income 7,189,320 4,064,100 18,878,074 14,659,746
Net realized gain (loss) on non-controlled, non-affiliated investments 1,553,450 7,921,322 4,658,817 6,601,885
Net realized loss on foreign currency translation (676)   (8,026)  
Loss on debt extinguishment       (539,250)
Net change in unrealized (depreciation) appreciation on non-controlled, non-affiliated investments (4,798,980) 2,080,603 (12,810,173) 3,868,463
Net change in unrealized depreciation on foreign currency translations (18,120)   (53,874)  
Benefit (provision) for taxes on net unrealized depreciation (appreciation) on investments 30,535 (606,377) (151,278) (586,460)
Provision for taxes on realized gain on investments   (681,027)   (681,027)
Net Increase in Net Assets Resulting from Operations $ 3,955,529 $ 12,778,621 $ 10,513,540 $ 23,323,357
Net Investment Income Per Share - basic $ 0.37 $ 0.21 $ 0.97 $ 0.75
Net Investment Income Per Share - diluted 0.37 0.21 0.97 0.75
Net increase in net assets from operations per share Basic (in dollars per share) 0.20 0.66 0.54 1.20
Net increase in net assets from operations per share Diluted (in dollars per share) $ 0.20 $ 0.66 $ 0.54 $ 1.20
Weighted average common shares Basic 19,545,935 19,486,003 19,535,708 19,486,003
Weighted average common shares Diluted 19,545,935 19,486,003 19,535,708 19,486,003
Distributions Per Share - basic and diluted $ 0.34 $ 0.58 $ 0.96 $ 1.08