v3.25.2
Consolidated Statements of Operations (Unaudited) - USD ($)
 3 Months Ended
May 31, 2025
May 31, 2024
Payment in kind interest income:    
Total interest from investments $ 28,003,926 $ 34,306,476
Interest from cash and cash equivalents 2,027,211 624,631
Management fee income 705,175 804,456
Dividend income:    
Dividend from investments 998,601 1,546,541
Structuring and advisory fee income 264,375 410,843
Other income 319,329 985,203
Total investment income 32,318,617 38,678,150
OPERATING EXPENSES    
Interest and debt financing expenses 12,451,865 12,962,081
Base management fees 4,333,332 4,982,580
Incentive management fees expense (benefit) 2,536,513 3,584,734
Professional fees 699,200 999,310
Administrator expenses 1,250,000 1,075,000
Insurance 74,310 77,596
Directors fees and expenses 131,500 113,000
General and administrative 645,411 609,127
Income tax expense (benefit) 54,454 (60,283)
Total operating expenses 22,176,585 24,343,145
NET INVESTMENT INCOME 10,142,032 14,335,005
Net realized gain (loss) from investments:    
Net realized gain (loss) from investments 2,901,339 (21,194,997)
Net change in unrealized appreciation (depreciation) on investments:    
Net change in unrealized appreciation (depreciation) on investments 943,977 13,931,431
Net change in provision for deferred taxes on unrealized (appreciation) depreciation on investments (55,085) (461,001)
Net realized and unrealized gain (loss) on investments 3,790,231 (7,724,567)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS $ 13,932,263 $ 6,610,438
WEIGHTED AVERAGE - BASIC EARNINGS (LOSS) PER COMMON SHARE (in Dollars per share) $ 0.91 $ 0.48
WEIGHTED AVERAGE - DILUTED EARNINGS (LOSS) PER COMMON SHARE (in Dollars per share) $ 0.91 $ 0.48
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING - BASIC (in Shares) 15,344,510 13,683,314
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING - DILUTED (in Shares) 15,344,510 13,683,314
Non-control/Non-affiliate investments    
Interest income:    
Interest Income $ 25,464,663 $ 31,224,277
Payment in kind interest income:    
Payment in kind interest income 168,229 63,830
Dividend income:    
Dividend from investments 562,183 249,491
Net realized gain (loss) from investments:    
Net realized gain (loss) from investments 2,262,984
Net change in unrealized appreciation (depreciation) on investments:    
Net change in unrealized appreciation (depreciation) on investments 372,148 14,156,825
Affiliate investments    
Interest income:    
Interest Income 595,624 496,840
Payment in kind interest income:    
Payment in kind interest income 584,749 241,104
Total interest from investments 1,180,374  
Management fee income  
Net change in unrealized appreciation (depreciation) on investments:    
Net change in unrealized appreciation (depreciation) on investments (45,944) 601,223
Control investments    
Interest income:    
Interest Income 1,190,661 1,997,112
Payment in kind interest income:    
Payment in kind interest income 283,313
Total interest from investments 1,190,661  
Management fee income 705,175  
Dividend income:    
Dividend from investments 436,418 1,297,050
Net realized gain (loss) from investments:    
Net realized gain (loss) from investments 638,355 (21,194,997)
Net change in unrealized appreciation (depreciation) on investments:    
Net change in unrealized appreciation (depreciation) on investments $ 617,773 $ (826,617)