Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

v3.23.2
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Investment income:        
Total interest from portfolio companies $ 1,473,540 $ 1,004,832 $ 2,770,443 $ 1,916,971
Total interest from other investments 104 1 236 1
Total dividend and other investment income 192,597 316,520 667,340 489,510
Total fee income 149,191 31,829 228,911 71,448
Total investment income 1,815,432 1,353,182 3,666,930 2,477,930
Operating Expenses [Abstract]        
Base management fee (see Note 8) 255,867 230,767 501,260 471,042
Capital gains incentive fees (see Note 8) 491,000 (663,000) 782,000 (902,760)
Interest expense 258,912   417,312  
Professional fees 100,307 212,138 271,282 443,221
Stockholders and office operating 85,080 64,890 149,384 121,588
Directors' fees 67,391 44,883 131,241 89,983
Administrative fees 37,250   74,500  
Insurance 10,380 13,353 23,340 22,263
Corporate development 554 726 4,267 3,753
Other operating 0 45   90
Total expenses 1,306,741 96,198 2,354,586 249,180
Net investment income before income taxes: 508,691 1,449,380 1,312,344 2,228,750
Income taxes, including excise tax expense 16,061 31,243 104,798 38,610
Net investment income 492,630 1,418,137 1,207,546 2,190,140
Net Realized Gain (Loss) On Sales And Dispositions Of Investments [Abstract]        
Net realized gain on sales and dispositions of investments, before income taxes 3,818,247 1,540,143 3,871,635 688,672
Income tax expense 338,158   338,158  
Net realized gain on sales and dispositions of investments 3,480,089 1,540,143 3,533,477 688,672
Net change in unrealized appreciation/ depreciation on investments:        
Change in unrealized appreciation/ depreciation before income taxes     34,703 (5,185,738)
Change in unrealized appreciation/ depreciation before income taxes (1,367,270) (4,854,669) 34,703 (5,185,738)
Deferred income tax benefit (66,441)   (66,441) 0
Net change in unrealized appreciation/depreciation on investments (1,300,829) (4,854,669) 101,144 (5,185,738)
Net realized and unrealized gain (loss) on investments 2,179,260 (3,314,526) 3,634,621 (4,497,066)
Net increase (decrease) in net assets from operations $ 2,671,890 $ (1,896,389) $ 4,842,167 $ (2,306,926)
Weighted average shares outstanding, Basic 2,581,021 2,581,021 2,581,021 2,581,021
Weighted average shares outstanding, Diluted 2,581,021 2,581,021 2,581,021 2,581,021
Increase (decrease) in net assets from operations per share, Basic $ 1.04 $ (0.73) $ 1.88 $ (0.89)
Increase (decrease) in net assets from operations per share, Diluted $ 1.04 $ (0.73) $ 1.88 $ (0.89)
Control investments        
Investment income:        
Total interest from portfolio companies $ 179,922   $ 330,838  
Total fee income 4,311   8,211  
Affiliate investments        
Investment income:        
Total interest from portfolio companies 941,201 $ 614,997 1,729,022 $ 1,185,113
Total dividend and other investment income 59,677 202,785 406,825 246,510
Total fee income 138,902 22,515 206,744 52,820
Net Realized Gain (Loss) On Sales And Dispositions Of Investments [Abstract]        
Net realized gain on sales and dispositions of investments, before income taxes 2,537,765 167,159 2,596,094 167,159
Net change in unrealized appreciation/ depreciation on investments:        
Change in unrealized appreciation/ depreciation before income taxes (886,698) 47,841 (886,698) 47,841
Non-Control/Non-Affiliate investments        
Investment income:        
Total interest from portfolio companies 352,417 389,835 710,583 731,858
Total interest from other investments 104 1 236 1
Total dividend and other investment income 132,920 113,735 260,515 243,000
Total fee income 5,978 9,314 13,956 18,628
Net Realized Gain (Loss) On Sales And Dispositions Of Investments [Abstract]        
Net realized gain on sales and dispositions of investments, before income taxes 1,280,482 1,372,984 1,275,541 521,513
Net change in unrealized appreciation/ depreciation on investments:        
Change in unrealized appreciation/ depreciation before income taxes $ (480,572) $ (4,902,510) $ 921,401 $ (5,233,579)