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CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($)
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
INVESTMENT INCOME    
Total Investment Income $ 24,951,658 $ 25,996,749
OPERATING EXPENSES    
Management fees 4,054,726 3,852,233
Valuation fees 157,889 156,507
Administrative services expenses 449,298 490,901
Income incentive fees 2,136,491 2,509,110
Professional fees 418,031 339,627
Directors' fees 111,250 108,250
Insurance expense 97,090 124,989
Interest expense and other fees 8,263,019 7,767,573
Income tax expense 499,547 370,719
Other general and administrative expenses 218,351 245,275
Total Operating Expenses 16,405,692 15,965,184
Income incentive fee waiver (1,242,843) (204,351)
Total Operating Expenses, net of fee waivers 15,162,849 15,760,833
Net Investment Income 9,788,809 10,235,916
Net realized loss on non-controlled, non-affiliated investment (5,967,221) (20,384,731)
Net realized loss on foreign currency translations (29,655) (25,106)
Net change in unrealized appreciation on controlled investments 1,193,293 23,518,590
Net change in unrealized appreciation on non-controlled, non-affiliated investments 1,138,017 22,982,020
Net change in unrealized appreciation (depreciation) on foreign currency translations 8,319 (3,602)
Provision for taxes on net unrealized appreciation on investments   (192,607)
Net Increase in Net Assets Resulting from Operations $ 4,993,545 $ 13,148,460
Net Investment Income Per Share - basic $ 0.35 $ 0.42
Net Investment Income Per Share - diluted 0.35 0.42
Net Increase in Net Assets Resulting from Operations Per Share Basic (in dollars per share) 0.18 0.54
Net Increase in Net Assets Resulting from Operations Per Share Diluted (in dollars per share) $ 0.18 $ 0.54
Weighted Average Shares of Common Stock Outstanding Basic 27,602,612 24,125,642
Weighted Average Shares of Common Stock Outstanding Diluted 27,602,612 24,125,642
Distributions Per Share-basic and diluted $ 0.4 $ 0.4
Controlled investments    
INVESTMENT INCOME    
Interest income   $ 81,636
OPERATING EXPENSES    
Net change in unrealized appreciation on controlled investments $ 55,276 536,570
Non-controlled/non-affiliated    
INVESTMENT INCOME    
Interest income 24,127,116 24,956,851
Other income $ 824,542 $ 958,262