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CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
INVESTMENT INCOME        
Total Investment Income $ 26,626,199 $ 26,585,017 $ 52,622,948 $ 50,660,364
OPERATING EXPENSES        
Management fees 3,852,233 3,865,588 7,704,466 7,600,690
Valuation fees 35,711 46,422 192,218 193,495
Administrative services expenses 481,261 466,378 972,162 928,342
Income incentive fees 2,542,530 2,603,004 5,051,640 4,727,839
Capital gains incentive fee       (569,528)
Professional fees 196,205 169,836 535,832 600,684
Directors' fees 114,250 93,250 222,500 210,500
Insurance expense 125,489 121,885 250,478 242,431
Interest expense and other fees 8,116,497 8,101,975 15,884,070 15,988,399
Income tax expense 574,037 371,786 944,756 746,549
Other general and administrative expenses 417,867 331,649 663,142 510,099
Total Operating Expenses 16,456,080 16,171,773 32,421,264 31,179,500
Income incentive fee waiver (1,622,542)   (1,826,893)  
Total Operating Expenses, net of fee waivers 14,833,538 16,171,773 30,594,371 31,179,500
Net Investment Income 11,792,661 10,413,244 22,028,577 19,480,864
Net realized gain (loss) on non-controlled, non-affiliated investments 1,992,482 (310,588) (18,392,249) (275,621)
Net realized loss on foreign currency translation (29,789) (10,704) (54,895) (50,616)
Net change in unrealized appreciation on controlled investments (5,586,681) (6,295,233)    
Net change in unrealized (depreciation) appreciation on non-controlled, non-affiliated investments (5,724,870) (6,295,233) 17,257,150 (10,544,875)
Net change in unrealized depreciation on foreign currency translations (5,887) (20,323) (9,489) (18,449)
Benefit (provision) for taxes on net unrealized depreciation (appreciation) on investments 381,500 (65,353) 188,893 (144,113)
Net Increase in Net Assets Resulting from Operations $ 8,544,286 $ 3,711,043 $ 21,692,746 $ 8,447,190
Net Investment Income Per Share - basic $ 0.48 $ 0.49 $ 0.90 $ 0.95
Net Investment Income Per Share - diluted 0.48 0.49 0.90 0.95
Net Increase in Net Assets Resulting from Operations Per Share Basic (in dollars per share) 0.35 0.17 0.89 0.41
Net Increase in Net Assets Resulting from Operations Per Share Diluted (in dollars per share) $ 0.35 $ 0.17 $ 0.89 $ 0.41
Weighted Average Shares of Common Stock Outstanding Basic 24,733,966 21,231,979 24,429,804 20,509,995
Weighted Average Shares of Common Stock Outstanding Diluted 24,733,966 21,231,979 24,429,804 20,509,995
Distributions Per Share-basic and diluted $ 0.41 $ 0.41 $ 0.81 $ 0.81
Controlled investments        
INVESTMENT INCOME        
Interest income     $ 81,636  
OPERATING EXPENSES        
Net change in unrealized appreciation on controlled investments $ 138,189   674,759  
Non-controlled/non-affiliated        
INVESTMENT INCOME        
Interest income 25,164,944 $ 25,662,895 50,121,795 $ 49,071,499
Other income $ 1,461,255 $ 922,122 $ 2,419,517 $ 1,588,865