Annual report [Section 13 and 15(d), not S-K Item 405]

CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Investment income:      
Total interest from portfolio companies $ 7,727,949 $ 5,979,355 $ 4,152,802
Total interest from other investments 2,356 933 131
Total dividend and other investment income 295,260 1,037,131 1,456,334
Total fee income 533,720 320,744 155,914
Total investment income 8,559,285 7,338,163 5,765,181
Operating Expenses [Abstract]      
Base management fee (see Note 9) 1,212,160 1,057,166 927,226
Income based incentive fees (see Note 9) 178,218
Capital gains incentive fees (see Note 9) 1,012,300 804,700 (1,048,760)
Interest expense 1,089,678 1,044,831 69,960
Professional fees 600,298 547,456 729,967
Stockholders and office operating 265,617 261,639 205,083
Directors' fees 263,500 263,500 187,833
Administrative fees 158,167 149,000
Insurance 44,358 44,100 43,026
Corporate development 12,986 5,927 3,753
Other operating 1,141
Total expenses 4,837,282 4,178,319 1,119,229
Net investment income before income taxes 3,722,003 3,159,844 4,645,952
Income taxes, including excise tax expense 296,926 192,111 215,542
Net investment income 3,425,077 2,967,733 4,430,410
Net realized gain on sales and dispositions of investments:      
Net realized gain on sales and dispositions of investments, before income taxes 11,124,864 1,051,079 705,493
Income tax expense 359,682
Net realized gain on sales and dispositions of investments 11,124,864 691,397 705,493
Net change in unrealized appreciation/ depreciation on investments:      
Change in unrealized appreciation/depreciation before income taxes (6,062,300) 2,972,084 (5,909,772)
Deferred income tax (benefit) expense (339,971) 104,564 107,980
Net change in unrealized appreciation/depreciation on investments (5,722,329) 2,867,520 (6,017,752)
Net realized and unrealized gain (loss) on investments 5,402,535 3,558,917 (5,312,259)
Net increase (decrease) in net assets from operations $ 8,827,612 $ 6,526,650 $ (881,849)
Weighted average shares outstanding, Basic 2,581,021 2,581,021 2,581,021
Weighted average shares outstanding, Diluted 2,581,021 2,581,021 2,581,021
Net (decrease) Increase in net assets from operations per share, Basic $ 3.42 $ 2.53 $ (0.34)
Net (decrease) Increase in net assets from operations per share, Diluted $ 3.42 $ 2.53 $ (0.34)
Control investments      
Investment income:      
Total interest from portfolio companies $ 733,774 $ 698,872 $ 279,055
Total fee income 18,063 17,242 7,800
Net change in unrealized appreciation/ depreciation on investments:      
Change in unrealized appreciation/depreciation before income taxes (2,565,130) (748,810)
Affiliate investments      
Investment income:      
Total interest from portfolio companies 4,739,802 3,858,696 2,366,955
Total dividend and other investment income 52,500 506,076 974,669
Total fee income 450,255 278,061 92,531
Net realized gain on sales and dispositions of investments:      
Net realized gain on sales and dispositions of investments, before income taxes 6,165,419 2,574,829 167,159
Net change in unrealized appreciation/ depreciation on investments:      
Change in unrealized appreciation/depreciation before income taxes 1,400,942 (259,031) 4,740,353
Non-Control/Non-Affiliate investments      
Investment income:      
Total interest from portfolio companies 2,254,373 1,421,787 1,506,792
Total interest from other investments 2,356 933 131
Total dividend and other investment income 242,760 531,055 481,665
Total fee income 65,402 25,441 55,583
Net realized gain on sales and dispositions of investments:      
Net realized gain on sales and dispositions of investments, before income taxes 4,959,445 (1,523,750) 538,334
Net change in unrealized appreciation/ depreciation on investments:      
Change in unrealized appreciation/depreciation before income taxes $ (4,898,112) $ 3,231,115 $ (9,901,315)