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CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Investment Income:        
Total interest income $ 7,592 $ 4,990 $ 21,303 $ 12,765
Total dividend income 779 740 2,740 3,396
Total other income 905 303 2,620 943
Total investment income 9,276 6,033 26,663 17,104
Expenses:        
Management fees 899 804 2,652 2,355
Incentive fees 763   2,315  
Administration fees 420 221 1,056 704
Custody fees 19 13 62 41
Directors’ fees 51 49 156 156
Professional services 422 878 1,392 1,669
Interest expense 3,344 2,671 8,934 8,008
Other expenses 267 313 770 698
Total expenses 6,185 4,949 17,337 13,631
Incentive fee waiver       (4,854)
Net expenses 6,185 4,949 17,337 8,777
Net investment income before taxes 3,091 1,084 9,326 8,327
Excise tax 39 22 67 123
Net investment income 3,052 1,062 9,259 8,204
Net realized and unrealized gains (losses):        
Total net realized gain (loss) (1,824) 1,171 563 (128,513)
Total net change in unrealized appreciation (depreciation) 6,532 (902) 11,300 112,013
Net realized and unrealized gains (losses) 4,708 269 11,863 (16,500)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Total $ 7,760 $ 1,331 $ 21,122 $ (8,296)
Net investment income per share (basic and diluted): [1] $ 0.4 $ 0.14 $ 1.22 $ 1.42
Earnings per share, basic [1] 1.02 0.18 2.77 (1.43)
Earnings per share,diluted [1] $ 1.02 $ 0.18 $ 2.77 $ (1.43)
Weighted average shares outstanding basic [1] 7,601,958 7,601,958 7,601,958 5,796,255
Weighted average shares outstanding diluted [1] 7,601,958 7,601,958 7,601,958 5,796,255
Non-affiliated, Non-controlled Investments        
Investment Income:        
Total interest income $ 6,357 $ 4,221 $ 17,669 $ 10,496
Total dividend income 254 340 899 1,297
Total other income 905 303 2,620 943
Net realized and unrealized gains (losses):        
Total net realized gain (loss) 1,637 1,171 4,024 (17,729)
Total net change in unrealized appreciation (depreciation) 2,581 163 8,416 5,274
Non-affiliated, non-controlled investments (PIK)        
Investment Income:        
Total interest income 552 259 1,591 728
Affiliated Investments        
Investment Income:        
Total interest income 33 25 95 68
Net realized and unrealized gains (losses):        
Total net realized gain (loss)       (110,784)
Total net change in unrealized appreciation (depreciation) 25 5 177 108,325
Affiliated investments (PIK)        
Investment Income:        
Total other income       58
Controlled Investments        
Investment Income:        
Total interest income 525 400 1,841 2,099
Total dividend income 650 485 1,715 1,415
Net realized and unrealized gains (losses):        
Total net realized gain (loss) (3,461)   (3,461)  
Total net change in unrealized appreciation (depreciation) $ 3,926 $ (1,070) 2,707 $ (1,586)
Controlled investments (PIK)        
Investment Income:        
Total interest income     $ 233  
[1] Weighted average shares outstanding and per share amounts have been adjusted for the periods shown to reflect the six-for-one reverse stock split effected on February 28, 2022 on a retroactive basis as described in Note 2.