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CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
INVESTMENT INCOME        
Total Investment Income $ 26,498,259 $ 27,165,026 $ 79,121,207 $ 77,825,390
OPERATING EXPENSES        
Management fees 3,959,554 3,933,121 11,664,020 11,533,811
Valuation fees 151,535 139,267 343,753 332,762
Administrative services expenses 469,274 470,846 1,441,436 1,399,188
Income incentive fees 2,564,922 2,705,200 7,616,562 7,433,039
Capital gains incentive fee reversal       (569,528)
Professional fees 312,034 276,592 847,866 877,276
Directors' fees 93,250 93,250 315,750 303,750
Insurance expense 126,362 123,725 376,840 366,156
Interest expense and other fees 7,956,403 8,049,063 23,840,473 24,037,462
Income tax expense 360,192 335,508 1,304,948 1,082,057
Other general and administrative expenses 245,043 217,655 908,185 727,754
Total Operating Expenses 16,238,569 16,344,227 48,659,833 47,523,727
Income incentive fee waiver     (1,826,893)  
Total Operating Expenses, net of fee waivers 16,238,569 16,344,227 46,832,940 47,523,727
Net Investment Income 10,259,690 10,820,799 32,288,267 30,301,663
Net realized (loss) gain on non-controlled, non-affiliated investments (3,297,615) 600,403 (21,689,864) 324,782
Net realized loss on foreign currency translation (22,095) (22,166) (76,990) (72,782)
Net change in unrealized appreciation on controlled investments 8,504,018 (13,793,320)    
Net change in unrealized appreciation (depreciation) on non-controlled, non-affiliated investments 8,255,272 (13,793,320) 25,512,422 (24,338,195)
Net change in unrealized appreciation (depreciation) on foreign currency translations 14,588 (2,794) 5,099 (21,243)
(Provision) benefit for taxes on net unrealized (appreciation) depreciation on investments   (312) 188,893 (144,425)
Benefit for taxes on net realized loss on investments 2,221   2,221  
Net Increase (Decrease) in Net Assets Resulting from Operations $ 15,460,807 $ (2,397,390) $ 37,153,553 $ 6,049,800
Net Investment Income Per Share - basic $ 0.39 $ 0.47 $ 1.29 $ 1.42
Net Investment Income Per Share - diluted 0.39 0.47 1.29 1.42
Net Increase (Decrease) in Net Assets Resulting from Operations Per Share Basic (in dollars per share) 0.59 (0.11) 1.48 0.28
Net Increase (Decrease) in Net Assets Resulting from Operations Per Share Diluted (in dollars per share) $ 0.59 $ (0.11) $ 1.48 $ 0.28
Weighted Average Shares of Common Stock Outstanding Basic 26,326,426 22,824,221 25,066,626 21,289,880
Weighted Average Shares of Common Stock Outstanding Diluted 26,326,426 22,824,221 25,066,626 21,289,880
Distributions Per Share-basic and diluted $ 0.40 $ 0.41 $ 1.21 $ 1.22
Controlled investments        
INVESTMENT INCOME        
Interest income     $ 81,636  
OPERATING EXPENSES        
Net change in unrealized appreciation on controlled investments $ 248,746   923,505  
Non-controlled/non-affiliated        
INVESTMENT INCOME        
Interest income 25,338,361 $ 26,223,986 75,460,156 $ 75,295,485
Other income $ 1,159,898 $ 941,040 $ 3,579,415 $ 2,529,905