Quarterly report [Sections 13 or 15(d)]

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Unaudited)

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CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Unaudited) - USD ($)
Mar. 31, 2025
Dec. 31, 2024
ASSETS    
Total Investments at Fair Value $ 62,157,363 $ 70,818,041
Cash 4,933,269 834,805
Interest receivable 223,273 357,530
Prepaid income taxes 339,237 329,365
Deferred tax asset, net 4,886 2,161
Other assets 163,402 115,531
Total assets 67,821,430 72,457,433
Liabilities:    
Due to investment adviser $ 545,838 $ 2,182,846
Other Liability, Related Party [Extensible Enumeration] us-gaap:RelatedPartyMember us-gaap:RelatedPartyMember
Accounts payable and accrued expenses $ 45,676 $ 92,568
Line of credit (see Note 5)   600,000
Capital gains incentive fees 1,490,000 1,565,000
Deferred revenue 428,663 516,441
Dividend payable   2,168,058
Total liabilities 2,510,177 7,124,913
Commitments and contingencies (see Note 5)
Stockholders' equity (net assets):    
Common stock, $0.10 par; shares authorized 100,000,000; shares issued: 3,037,709 at 3/31/25 and 2,648,916 at 12/31/24; shares outstanding: 2,969,814 at 3/31/25 and 2,581,021 at 12/31/24 (see Note 1) 303,771 264,892
Capital in excess of par value 64,051,504 55,419,620
Stock dividends distributable: 0 shares at 3/31/25 and 388,793 shares at 12/31/24   8,672,231
Treasury stock, at cost: 67,895 shares at 3/31/25 and 12/31/24 (1,566,605) (1,566,605)
Total distributable earnings 2,522,583 2,542,382
Total stockholders' equity (net assets) (per share - 3/31/25: $21.99; 12/31/24: $25.31) 65,311,253 65,332,520
Total liabilities and stockholders' equity (net assets) 67,821,430 72,457,433
Control Investments    
ASSETS    
Total Investments at Fair Value 2,000,000 2,500,000
Affiliate Investments    
ASSETS    
Total Investments at Fair Value 52,490,162 51,668,144
Non-Control/Non-Affiliate Investments    
ASSETS    
Total Investments at Fair Value $ 7,667,201 $ 16,649,897