v3.25.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
INVESTMENT INCOME        
Total Investment Income $ 167,304 $ 1,027,353 $ 666,398 $ 2,555,444
OPERATING EXPENSES        
Compensation expense 1,571,856 2,198,509 3,239,691 4,383,827
Directors’ fees 175,495 167,825 346,060 338,938
Interest expense 1,275,485 1,214,267 2,535,334 2,428,534
Professional fees 680,857 586,825 1,431,081 1,315,384
Income tax expense (218,745) 52,794 (215,949) 54,894
Other expenses 404,516 462,758 714,110 912,394
Total Operating Expenses 3,889,464 4,682,978 8,050,327 9,433,971
Net Investment Loss (3,722,160) (3,655,625) (7,383,929) (6,878,527)
Realized Gain/(Loss) on Investments:        
Net Realized Gain/(Loss) on Investments 21,212,611 (29,612) 21,194,660 (453,686)
Realized loss on partial repurchase of 6.00% Notes due December 30, 2026 (15,873)
Change in Unrealized Appreciation/(Depreciation) of Investments:        
Net Change in Unrealized Appreciation/(Depreciation) of Investments 44,837,619 (6,965,946) 47,726,497 (25,384,316)
Net Change in Net Assets Resulting from Operations $ 62,328,070 $ (10,651,183) $ 61,521,355 $ (32,716,529)
Net Change in Net Assets Resulting from Operations per Common Share:        
Basic $ 2.63 $ (0.45) $ 2.60 $ (1.34)
Diluted [1] $ 2.23 $ (0.45) $ 2.23 $ (1.34)
Weighted-Average Common Shares Outstanding        
Basic 23,728,095 23,410,235 23,650,399 24,401,863
Diluted [1] 28,244,225 23,410,235 28,113,063 24,401,863
Non Controlled Non Affiliate Investments [Member]        
INVESTMENT INCOME        
Interest income [2] $ 167,304 $ 290,750 $ 317,951 $ 532,757
Dividend income 348,447 21,875
Realized Gain/(Loss) on Investments:        
Net Realized Gain/(Loss) on Investments 21,212,611 (22,867) 21,194,660 (507,008)
Change in Unrealized Appreciation/(Depreciation) of Investments:        
Net Change in Unrealized Appreciation/(Depreciation) of Investments 35,090,339 (3,481,638) 29,841,454 (19,876,809)
Controlled Investments [Member]        
INVESTMENT INCOME        
Interest income 376,667 811,667
Interest income from U.S. Treasury bills 359,936 1,189,145
Realized Gain/(Loss) on Investments:        
Net Realized Gain/(Loss) on Investments (6,745) (6,745)
Change in Unrealized Appreciation/(Depreciation) of Investments:        
Net Change in Unrealized Appreciation/(Depreciation) of Investments 10,086,973 864 18,697,449 (5,636)
Non-Controlled Affiliate Investments [Member]        
Realized Gain/(Loss) on Investments:        
Net Realized Gain/(Loss) on Investments 60,067
Change in Unrealized Appreciation/(Depreciation) of Investments:        
Net Change in Unrealized Appreciation/(Depreciation) of Investments $ (339,693) $ (3,485,172) $ (812,406) $ (5,501,871)
[1] For the three and six months ended June 30, 2024, there were
[2] Includes interest income earned on cash.