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Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues        
Interest income $ 15,022,431 $ 14,659,222 $ 30,366,098 $ 31,186,526
Interest expense (1,838,932) (994,926) (3,942,982) (2,613,222)
Net interest income 13,183,499 13,664,296 26,423,116 28,573,304
Expenses        
Management and incentive fees, net 1,774,880 1,799,667 3,529,621 3,937,672
General and administrative expense 1,254,535 1,280,401 2,644,802 2,555,226
Professional fees 409,149 537,894 859,007 1,107,269
Stock based compensation 836,333 263,844 1,367,626 402,179
(Reversal) provision for current expected credit losses (275,471) 1,139,112 104,808 1,235,231
Total expenses 3,999,426 5,020,918 8,505,864 9,237,577
Change in unrealized gain on debt securities, at fair value (75,604)
Realized gain on debt securities, at fair value 72,428
Net Income before income taxes 9,184,073 8,643,378 17,914,076 19,335,727
Income tax expense 0 0 0 0
Net Income $ 9,184,073 $ 8,643,378 $ 17,914,076 $ 19,335,727
Earnings per common share:        
Basic earnings per common share (in Dollars per share) $ 0.47 $ 0.48 $ 0.95 $ 1.07
Diluted earnings per common share (in Dollars per share) $ 0.46 $ 0.47 $ 0.93 $ 1.07
Weighted average number of common shares outstanding:        
Basic weighted average shares of common stock outstanding (in Shares) 19,378,445 18,094,288 18,826,182 17,989,684
Diluted weighted average shares of common stock outstanding (in Shares) 19,890,376 18,273,512 19,265,434 18,117,919