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CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
INVESTMENT INCOME        
Interest income $ 26,223,986 $ 19,617,468 $ 75,295,485 $ 50,392,437
Other income 941,040 524,799 2,529,905 1,353,279
Total Investment Income 27,165,026 20,142,267 77,825,390 51,745,716
OPERATING EXPENSES        
Management fees 3,933,121 3,827,669 11,533,811 11,025,435
Valuation fees 139,267 145,865 332,762 315,482
Administrative services expenses 470,846 447,381 1,399,188 1,388,602
Income incentive fees 2,705,200 1,635,641 7,433,039 1,635,641
Capital gains incentive fee reversal   (646,757) (569,528) (1,672,549)
Professional fees 276,592 315,809 877,276 845,275
Directors' fees 93,250 83,500 303,750 254,500
Insurance expense 123,725 127,274 366,156 377,671
Interest expense and other fees 8,049,063 6,448,280 24,037,462 16,864,255
Income tax expense 335,508 361,115 1,082,057 1,066,768
Other general and administrative expenses 217,655 207,170 727,754 766,562
Total Operating Expenses 16,344,227 12,952,947 47,523,727 32,867,642
Net Investment Income 10,820,799 7,189,320 30,301,663 18,878,074
Net realized gain on non-controlled, non-affiliated investments 600,403 1,553,450 324,782 4,658,817
Net realized loss on foreign currency translation (22,166) (676) (72,782) (8,026)
Net change in unrealized depreciation on non-controlled, non-affiliated investments (13,793,320) (4,798,980) (24,338,195) (12,810,173)
Net change in unrealized depreciation on foreign currency translation (2,794) (18,120) (21,243) (53,874)
(Provision) benefit for taxes on net unrealized (appreciation) depreciation on investments (312) 30,535 (144,425) (151,278)
Net (Decrease) Increase in Net Assets Resulting from Operations $ (2,397,390) $ 3,955,529 $ 6,049,800 $ 10,513,540
Net Investment Income Per Share - basic $ 0.47 $ 0.37 $ 1.42 $ 0.97
Net Investment Income Per Share - diluted 0.47 0.37 1.42 0.97
Net (Decrease) Increase in Net Assets Resulting from Operations Per Share Basic (in dollars per share) (0.11) 0.20 0.28 0.54
Net (Decrease) Increase in Net Assets Resulting from Operations Per Share Diluted (in dollars per share) $ (0.11) $ 0.20 $ 0.28 $ 0.54
Weighted Average Shares of Common Stock Outstanding Basic 22,824,221 19,545,935 21,289,880 19,535,708
Weighted Average Shares of Common Stock Outstanding Diluted 22,824,221 19,545,935 21,289,880 19,535,708
Distributions Per Share-basic and diluted $ 0.41 $ 0.34 $ 1.22 $ 0.96