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CONSOLIDATED STATEMENT OF OPERATIONS (unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
INVESTMENT INCOME        
Interest income $ 5,158,773 $ 1,247,218 $ 9,890,725 $ 1,606,229
Other income 62,484 30,608 238,553 41,351
Total Investment Income 5,221,257 1,277,826 10,129,278 1,647,580
OPERATING EXPENSES        
Management fees 666,721 299,076 1,268,560 391,365
Income incentive fees 468,011 77,677 907,677 77,677
Capital gains incentive fee 124,892   124,892  
Professional fees 168,703 116,476 380,511 225,064
Organization costs     1,000 90,184
Amortization of deferred offering costs 41,106 62,954 98,729 97,831
Administrative services expenses 100,914 40,257 194,674 108,399
Trustees' fees 40,000 40,000 80,000 78,000
Insurance expense 20,307 20,495 40,391 40,796
Valuation fees 615   18,274  
Interest expense and other fees 1,822,407 277,904 3,525,910 350,671
Income tax expense 8,855   16,690  
Other general and administrative expenses 37,503 30,392 81,023 48,369
Total Operating Expenses 3,500,034 965,231 6,738,331 1,508,356
Expenses reimbursed/fees waived by Investment Advisor (Note 2) (961,954) (386,500) (1,930,229) (636,722)
Net Operating Expenses 2,538,080 578,731 4,808,102 871,634
Net Investment Income 2,683,177 699,095 5,321,176 775,946
Net realized gain on foreign currency translation 7,846   11,321  
Net change in unrealized appreciation (depreciation) on non-controlled non-affiliated investments 1,819,403 (82,562) 1,747,377 (190,610)
Net change in unrealized appreciation on foreign currency translations (27) 579 6,193 579
Net Increase in Net Assets Resulting from Operations $ 4,510,399 $ 617,112 $ 7,086,067 $ 585,915
Net Investment Income Per Share - basic $ 0.44 $ 0.23 $ 0.92 $ 0.28
Net Investment Income Per Share - diluted 0.44 0.23 0.92 0.28
Net Increase (Decrease) in Net Assets Resulting from Operations Per Share - basic 0.75 0.20 1.23 0.21
Net Increase (Decrease) in Net Assets Resulting from Operations Per Share - diluted $ 0.75 $ 0.20 $ 1.23 $ 0.21
Weighted Average Shares of Common Shares of Beneficial Interest Outstanding - basic 6,037,036 3,092,695 5,770,879 2,790,962
Weighted Average Shares of Common Shares of Beneficial Interest Outstanding - diluted 6,037,036 3,092,695 5,770,879 2,790,962
Distributions Per Share - basic and diluted $ 0.45   $ 0.87