v3.25.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
May 31, 2025
May 31, 2024
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS $ 13,932,263 $ 6,610,438
Distributions from CLO, payment-in-kind and other adjustments to cost (517,108) 383,131
Net accretion of discount on investments (858,544) (814,013)
Amortization of deferred debt financing costs 1,254,331 1,238,632
Income tax expense (benefit) 50,004 (60,283)
Net realized (gain) loss from investments (2,901,339) 21,194,997
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
Proceeds from sales and repayments of investments 65,066,218 75,702,723
Purchases of investments (50,085,463) (39,301,058)
Interest receivable (523,277) 680,549
Management fee receivable 19,886 7,967
Other assets (419,072) (522,897)
Receivable from open trades (1,269,231)
Current income tax receivable 84,245
Base management and incentive fees payable 638,901 420,098
Payable from open trades 6,750,000
Accounts payable and accrued expenses (120,229) (13,164)
Interest and debt fees payable 689,021 1,353,253
Due to Manager 204,517 (79,909)
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES 32,291,217 52,145,048
Financing activities    
Borrowings on debt 17,500,000 23,000,000
Paydowns on debt (12,500,000)
Repayments of notes (20,000,000)
Payments of deferred debt financing costs (875,791)
Proceeds from issuance of common stock 6,143,820
Capital contribution from Manager 297,770
Payments of cash dividends (16,667,926) (8,979,464)
Payments of offering costs (2,080)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES (12,728,416) 644,745
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS AND CASH AND CASH EQUIVALENTS, RESERVE ACCOUNTS 19,562,801 52,789,793
CASH AND CASH EQUIVALENTS AND CASH AND CASH EQUIVALENTS, RESERVE ACCOUNTS, BEGINNING OF PERIOD 204,723,924 40,507,124
CASH AND CASH EQUIVALENTS AND CASH AND CASH EQUIVALENTS, RESERVE ACCOUNTS, END OF PERIOD (See note 2) 224,286,725 93,296,917
Supplemental information:    
Interest paid during the period 10,508,514 10,370,196
Cash paid for taxes 2,762 54,821
Supplemental non-cash information:    
Payment-in-kind interest income and other adjustments to cost 721,477 (383,131)
Net accretion of discount on investments 858,544 814,013
Amortization of deferred debt financing costs 1,254,331 1,238,632
Stock dividend distribution $ 2,312,153 $ 987,572