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Statements of Operations (Unaudited) - USD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Investment income      
Total investment income $ 32,354,151 $ 16,657,337 $ 4,590,044
Operating expenses      
Incentive fees earned 4,585,541 201,710 304,622
Interest and other debt expenses 2,705,528 1,923,494 446,572
Management fees 2,116,298 1,381,498 365,873
Professional fees 439,380 405,977 446,259
Administrative expenses 320,583 375,798 381,314
Director fees 124,500 156,000 176,426
Custody and transfer agent fees 73,783 54,880 40,938
Insurance expense 30,838 30,536 27,972
Incentive fees on capital gains [1] 0 (165,778) 165,778
Other operating expenses 336,139 240,468 79,886
Total operating expenses 10,732,590 4,604,583 2,435,640
Net investment income before taxes 21,621,561 12,052,754 2,154,404
Excise tax expense 1,809 0 0
Net investment income 21,619,752 12,052,754 2,154,404
Net realized gain (loss):      
Net realized gain (loss) 3,222 0 (1,580)
Net change in unrealized appreciation (depreciation):      
Change in net unrealized appreciation (depreciation) (1,095,138) (7,134,450) 1,669,324
Net realized and unrealized gain (loss) (1,091,916) (7,134,450) 1,667,744
Net increase (decrease) in net assets resulting from operations $ 20,527,836 $ 4,918,304 $ 3,822,148
Basic earnings (loss) per share [2] $ 1.03 $ 0.42 $ 0.69
Diluted earnings (loss) per share [2] $ 1.03 $ 0.42 $ 0.69
Basic weighted average shares outstanding 20,136,022 12,201,765 5,316,154
Diluted weighted average shares outstanding 20,136,022 12,201,765 5,316,154
Non-Controlled, Non-Affiliated Investments      
Investment income      
Interest income (excluding PIK) $ 30,770,599 $ 16,259,168 $ 4,530,361
PIK income 1,535,999 228,972 26,479
Other income 47,553 169,197 33,204
Net realized gain (loss):      
Net realized gain (loss) 3,222 0 (1,580)
Net change in unrealized appreciation (depreciation):      
Change in net unrealized appreciation (depreciation) $ (1,095,138) $ (7,134,450) $ 1,669,324
[1] Net investment income and per share amounts displayed above are net of the accrual for incentive fees on capital gains which is reflected on a hypothetical liquidation basis in accordance with Generally Accepted Accounting Principles (“GAAP”) for the years ended December 31, 2023, 2022, and 2021 (see Note 3).
[2] Computed based on the actual number of shares outstanding and capital activity during the time periods such earnings occurred.