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Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Investment income        
Total investment income $ 8,437,465 $ 8,010,368 $ 17,142,161 $ 15,071,298
Operating expenses        
Incentive fees earned 876,495 2,801,811 1,780,373 2,801,811
Interest and other debt expenses 398,827 722,729 879,764 1,579,083
Management fees 590,237 517,431 1,165,595 996,325
Professional fees 137,176 58,137 300,243 124,754
Administrative expenses 105,447 74,081 205,526 152,373
Director fees 32,000 32,000 62,968 63,500
Custody and transfer agent fees 20,706 18,543 40,566 36,383
Insurance expense 9,714 6,822 16,517 13,568
Other operating expenses 131,396 135,153 227,998 168,050
Total operating expenses 2,301,998 4,366,707 4,679,550 5,935,847
Net investment income before taxes 6,135,467 3,643,661 12,462,611 9,135,451
Excise tax expense 0 0 0 1,809
Net investment income 6,135,467 3,643,661 12,462,611 9,133,642
Net realized gain (loss):        
Net realized gain (loss)     40,171 (4,768)
Net change in unrealized appreciation (depreciation):        
Change in net unrealized appreciation (depreciation): Non-controlled, non-affiliated investments     (6,816,431) (694,460)
Net realized and unrealized gain (loss) (4,569,807) 97,518 (6,776,260) (699,228)
Net increase (decrease) in net assets from operations $ 1,565,660 $ 3,741,179 $ 5,686,351 $ 8,434,414
Basic earnings (loss) per share [1] $ 0.09 $ 0.2 $ 0.27 $ 0.47
Diluted earnings (loss) per share [1] $ 0.09 $ 0.2 $ 0.27 $ 0.47
Basic weighted average shares outstanding 24,374,972 19,660,924 24,064,041 18,577,106
Diluted weighted average shares outstanding 24,374,972 19,660,924 24,064,041 18,577,106
Non-Controlled, Non-Affiliated Investments        
Investment income        
Interest income (excluding PIK) $ 8,012,092 $ 7,665,414 $ 16,143,728 $ 14,551,933
PIK income 396,582 327,555 968,220 482,341
Dividend income 27,807 0 27,807 0
Other income 984 17,399 2,406 37,024
Net realized gain (loss):        
Net realized gain (loss) 5,533 0 40,171 (4,768)
Net change in unrealized appreciation (depreciation):        
Change in net unrealized appreciation (depreciation): Non-controlled, non-affiliated investments $ (4,575,340) $ 97,518 $ (6,816,431) $ (694,460)
[1] Computed based on the actual number of shares outstanding and capital activity during the time periods such earnings occurred.