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Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues        
Interest income $ 15,183,450 $ 13,795,097 $ 46,369,976 $ 35,478,178
Interest expense (1,449,143) (861,348) (4,062,365) (1,383,172)
Net interest income 13,734,307 12,933,749 42,307,611 34,095,006
Expenses        
Management and incentive fees, net 1,601,387 1,347,421 5,539,059 3,266,487
General and administrative expense 1,251,307 1,076,798 3,833,733 2,410,151
Professional fees 491,107 348,785 1,598,376 1,649,360
Stock based compensation 540,426 84,891 942,605 328,356
(Reversal)/provision for current expected credit losses (41,351) 306,885 1,193,880 1,403,892
Total expenses 3,842,876 3,164,780 13,107,653 9,058,246
Change in unrealized gain on debt securities, at fair value 85,567   112,767
Net Income before income taxes 9,976,998 9,768,969 29,312,725 25,036,760
Income tax expense
Net Income $ 9,976,998 $ 9,768,969 $ 29,312,725 $ 25,036,760
Earnings per common share:        
Basic earnings per common share (in Dollars per share) $ 0.55 $ 0.55 $ 1.62 $ 1.42
Diluted earnings per common share (in Dollars per share) $ 0.54 $ 0.55 $ 1.6 $ 1.41
Weighted average number of common shares outstanding:        
Basic weighted average shares of common stock outstanding (in Shares) 18,175,467 17,657,913 18,052,293 17,652,367
Diluted weighted average shares of common stock outstanding (in Shares) 18,562,930 17,752,290 18,269,171 17,747,612