INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2023

INCOME TAXES [Abstract]

Net Operating Loss Forfeiture for Income

During the year ended December 31, 2023, the period from April 1, 2022 through December 31, 2022, and the period ended March 31, 2022, the Company reclassified for book purposes amounts arising from permanent book to tax differences primarily related to net operating loss forfeiture for income tax purposes.

	December 31, 2023			December 31, 2022		March 31, 2022
Increase (decrease) in additional paid in capital	$	121,099		$	-	$	(295,235	)
Increase (decrease) in distributed earnings (accumulated loss)		(121,099	)		-		295,235

Components of Distributable Earning

For income tax purposes, distributions paid to shareholders are reported as ordinary income, return of capital, long-term capital gains, or a combination thereof. For the tax period from April 1, 2023 through December 31, 2023, the tax year from April 1, 2022 to March 31, 2023, and the tax period from January 1, 2022 through March 31, 2022, the Company paid the following distributions.

	For the period from April 1, 2023 through December 31, 2023		For the period from April 1, 2022 through March 31, 2023		For the period from January 1, 2022 through March 31, 2022
Ordinary Income	$	8,265,537	$	-	$	-
Total Distributions	$	8,265,537	$	-	$	-

As of March 31, 2023, the components of distributable earnings on a tax basis detailed below differ from the amounts reflected in the Company’s Statements of Assets and Liabilities by temporary book or tax differences primarily arising from the tax treatment of organizational costs.

	March 31, 2023			March 31, 2022
Undistributed ordinary income	$	3,418,714		$	-
Net unrealized appreciation (depreciation) on investments		713,009			-
Other temporary differences		(399,948	)		(427,845	)
Total	$	3,731,775		$	(427,845	)

Investments and Cash Equivalents for Federal Income tax

The following table sets forth the tax cost basis and the estimated aggregate gross unrealized appreciation and depreciation from investments and cash equivalents for federal income tax purposes for the fiscal years ended December 31, 2023 and December 31, 2022 and the fiscal period ended March 31, 2022.

	December 31, 2023			December 31, 2022			March 31, 2022
Tax cost of investments and cash equivalents	$	86,082,952		$	85,653,218		$	84,766,060
Unrealized appreciation	$	784,052		$	-		$	-
Unrealized depreciation		(135,369	)		(273,348	)		-
Net unrealized appreciation (depreciation) from investments and cash equivalents	$	648,683		$	(273,348	)	$	-