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Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net increase (decrease) in net assets resulting from operations $ 7,050,000 $ 16,323,205
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided (used in) operating activities:    
Net realized (gain) loss on investments (2,034,517) (45,283)
Net change in unrealized (gain) loss on investments 10,862,337 (88,174)
Net accretion of discounts and amortization of premiums (1,360,643) (1,004,803)
Purchases of investments (23,076,555) (84,536,880)
Proceeds from sales of investments 2,749,081 2,679,712
Proceeds from principal payments 48,244,155 11,669,868
Amortization of deferred financing costs 437,281 485,547
Payment-in-kind interest income (3,319,363) (1,791,327)
Changes in operating assets and liabilities:    
Interest receivable (1,079,673) (1,349,994)
Prepaid expenses (40,215) (3,740)
Management fees payable, net of fee waivers (Note 6) (43,118) 113,785
Incentive fees payable, net of fee waivers (Note 6) (1,936,406) 2,843,462
Credit facility interest payable (821,299) 1,121,065
Other payables (148,913) 277,784
Professional fees payable (26,549) 200,732
Due to Shareholder 0 12,501
Legal fees payable 8,318 111,127
Reimbursement expense payable (26,467) 85,222
Net cash provided by (used in) operating activities 35,437,454 (52,896,191)
Cash flows from financing activities:    
Proceeds from issuance of common shares, including subscriptions received in advance 37,313,965 33,612,379
Payments in repurchase of shares (14,173,190) (11,694,661)
Proceeds from credit facility 12,000,000 88,000,000
Repayments of credit facility (59,000,000) (65,500,000)
Distributions paid (8,739,781) (7,237,907)
Deferred financing and debt issuance costs paid (1,916,001) 0
Net cash provided by (used in) financing activities (34,515,007) 37,179,811
Net increase (decrease) in Cash 922,447 (15,716,380)
Cash, beginning of period 5,045,540 18,958,445
Cash, end of period 5,967,987 3,242,065
Non cash operating activities:    
Interest received in kind 3,319,363 1,791,327
Supplemental and non cash financing activities:    
Shares issued from dividend reinvestment plan (see Note 10) 8,366,869 7,241,352
Supplemental Information:    
Cash paid for interest $ 9,790,764 $ 7,349,573