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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2022
Operating activities    
Net income $ 1,068,551 $ 15,267,791
Adjustments to reconcile net income to net cash provided by operating activities:    
Accretion of deferred loan origination fees and other discounts (64,061) (1,362,776)
Payment-in-kind interest (51,767) (2,400,627)
Provision for current expected credit losses 1,097,008
Amortization of deferred debt issuance costs 16,712 241,095
Stock based compensation 243,465
Changes in operating assets and liabilities:    
Interest receivable (84,384) (777,837)
Other receivables and assets, net (118) (146,102)
Interest reserve 613,663 (6,162,392)
Related party payable 739,950
Management fee payable 342,438
Accounts payable and other liabilities (43,501) 292,669
Net cash provided by operating activities 1,455,095 7,374,682
Cash flows from investing activities    
Issuance of and fundings of loans (32,017,500) (125,383,782)
Principal repayment of loans 46,667 6,654,703
Net cash used in investing activities (31,970,833) (118,729,079)
Cash flows from financing activities    
Proceeds from sale of common stock 31,359,323 4,505,664
Proceeds from borrowings on revolving line of credit 45,000,000
Dividends paid (11,575,495)
Payment of debt issuance costs (177,261)
Payment of deferred offering costs (23,941)
Net cash provided by financing activities 31,359,323 37,728,967
Change in cash 843,585 (73,625,430)
Cash, beginning of period 100,000 80,248,526
Cash, end of period 943,585 6,623,096
Supplemental disclosure of non-cash financing and investing activity    
Loans acquired for issuance of shares of common stock 24,940,421
Interest reserve withheld from funding of loan 820,388 5,895,863
OID withheld from funding of loans 682,500 1,835,592
Dividends declared and not yet paid 1,068,551 8,380,271
Supplemental information:    
Interest paid during the period 102,500
Income taxes paid during the period