XML 47 R31.htm IDEA: XBRL DOCUMENT v3.24.1
TRANSITION PERIOD COMPARATIVE DATA (Tables)
 12 Months Ended
Dec. 31, 2023
TRANSITION PERIOD COMPARATIVE DATA [Abstract]  
Transition Period Comparative Data
 
  
Nine Months Ended
December 31, 2022
    
Nine Months Ended
December 31, 2021
  
 
        
(unaudited)
  
INVESTMENT INCOME
            
Non-control/non-affiliate investment income
  
Interest income
  
$
3,626,792
    
$
-
  
Fee income
    
410,000
      
-
  
Total investment income
    
4,036,792
      
-
  
 
                
EXPENSES
                
Legal expenses
    
484,412
      
-
  
Management fee
    
336,432
      
-
  
Audit expense
    
210,284
      
30,000
  
Insurance expense
    
228,288
      
-
  
Administrator fees
    
171,494
      
-
  
Director expenses
    
99,845
      
-
  
Excise tax expense
    
80,566
      
-
  
Professional fees
    
70,264
      
-
  
Custodian fees
    
36,150
      
24,000
  
Organizational expenses
    
-
      
293,834
  
Other expenses
    
122,070
      
-
  
Total expenses
    
1,839,805
      
347,834
  
NET INVESTMENT INCOME (LOSS)
    
2,196,987
      
(347,834
)
 
                
NET REALIZED GAIN (LOSS) FROM INVESTMENTS
    
-
      
-
  
 
                
NET CHANGE IN UNREALIZED APPRECIATION (DEPRECIATION) FROM INVESTMENTS
  
Non-controlled/non-affiliate investments
    
(273,348
)
    
-
  
Net change in unrealized appreciation (depreciation) from investments
    
(273,348
)
    
-
  
 
                
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS
  
$
1,923,639
    
$
(347,834
)
 
                
NET INVESTMENT INCOME (LOSS) PER SHARE — BASIC AND DILUTED
  
$
0.35
    
$
(1,246.72
)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS PER SHARE — BASIC AND DILUTED
  
$
0.31
    
$
(1,246.72
)
WEIGHTED AVERAGE SHARES OUTSTANDING - BASIC AND DILUTED (1)
    
6,214,672
      
279
  
 
(1) 386 shares were issued on June 16, 2021. There were no shares prior to June 16, 2021.

 
  
Nine Months Ended
December 31, 2022
    
Nine Months Ended
December 31, 2021
  
 
        
(unaudited)
  
Cash flows from operating activities
            
Net increase (decrease) in net assets resulting from operations
  
$
1,923,639
    
$
(347,834
)
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:
                
Net change in unrealized (appreciation) depreciation from investments
    
273,348
      
-
  
Net (accretion of discounts) and amortization of premiums
    
(165,398
)
    
-
  
Purchase of investments
    
(50,362,500
)
    
-
  
(Increase)/Decrease in operating assets:
                
Prepaid expenses
    
224,189
      
-
  
Interest receivable
    
(1,549,867
)
    
-
  
Deferred offering costs
    
-
      
(1,118,803
)
Increase/(Decrease) in operating liabilities:
                
Legal fees payable
    
8,232
      
-
  
Management fee payable
    
170,965
      
-
  
Other payables
    
8,305
      
24,000
  
Professional fees payable
    
28,744
      
-
  
Excise tax payable
    
80,566
      
-
  
Director fees payable
    
7,679
      
-
  
Due to affiliate
    
(48
)
    
384,076
  
Offering cost payable
    
(264,581
)
    
748,000
  
Audit fees payable
    
-
      
30,000
  
Administrator fees payable
    
10,155
      
-
  
Organizational costs payable
    
(34,168
)
    
280,561
  
Net cash provided by (used in) operating activities
    
(49,640,740
)
    
-
  
 
                
Cash flows from financing activities
                
Issuance of common stock, net of offering cost
    
-
      
-
  
Net cash provided by (used in) financing activities
    
-
      
-
  
 
                
Net increase (decrease) in cash and cash equivalents
    
(49,640,740
)
    
-
  
Cash and cash equivalents, beginning of period
    
84,766,060
      
-
  
Cash and cash equivalents, end of period
  
$
35,125,320
    
$
-