v3.25.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Dec. 31, 2024
Jun. 30, 2024
Cash Flows from Operating Activities          
Net increase (decrease) in net assets resulting from operations     $ 1,771,994   $ 459,594
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:          
Origination and purchase of investments     (27,670,641)   (27,198,195)
Payment in-kind interest and dividends     (1,103,161)   (1,889,046)
Sales and repayments of investments     17,549,493   50,173,846
Net realized (gain) loss on investments $ (2,208,625) $ 1,828,530 (581,343)   8,100,498
Net change in unrealized appreciation/depreciation on investments     17,023   (5,172,628)
Amortization of discount/premium on investments     (725,093)   (1,202,452)
Amortization of deferred debt issuance costs     307,648   317,679
Amortization of original issue discount- 2026 Notes     35,555   35,555
Net (increase) decrease in operating assets:          
Interest receivable     90,029   45,025
Payment-in-kind interest receivable     (132,733)   85,781
Principal receivable     564,557   38,615
Due from affiliate     0   515,361
Long-term receivable     489,365   (631,667)
Escrow receivable     0   (97,173)
Short-term receivable     (191,407)   0
Prepaid expenses and other assets     (278,753)   (251,379)
Net increase (decrease) in operating liabilities:          
Payable for investments purchased     8,098,992   1,925,000
Interest payable     (38,724)   (317,286)
Deferred income liability     594,913   0
Directors fees payable     (81,323)   (4,343)
Accrued expenses and other liabilities     (249,312)   27,228
Base management fees payable     10,491   (55,178)
Income-based incentive fees payable     (118,748)   0
Net cash (used in) provided by operating activities     (1,641,178)   24,904,835
Cash Flows from Financing Activities:          
Payment for deferred financing costs     0   (1,010,788)
Issuance of common shares     0   0
Distributions to stockholders     (5,118,649)   (6,449,605)
Proceeds from borrowing on revolving financing facility     18,500,000   9,000,000
Repayments of borrowing on revolving financing facility     (6,500,000)   (36,000,000)
Net cash (used in) provided by financing activities     6,881,351   (34,460,393)
Net change in cash     5,240,173   (9,555,558)
Cash and restricted cash at beginning of year     12,104,547 $ 5,108,804 14,664,362
Cash and restricted cash at end of period 17,344,720 5,108,804 17,344,720 12,104,547 5,108,804
Supplemental and non-cash financing cash flow information:          
Cash paid for interest     3,726,887   4,448,478
Cash paid for taxes     478,619   265,000
Issuance of shares pursuant to Dividend Reinvestment Plan     70,453   29,311
Non-cash purchase of investments     (11,306,892)   (5,700,354)
Non-cash sale of investments     11,306,892   5,700,354
Cash 2,946,719 158,768 2,946,719 771,483 158,768
Cash, restricted 14,398,001 4,950,036 14,398,001 11,333,064 4,950,036
Cash and restricted cash $ 17,344,720 $ 5,108,804 $ 17,344,720 $ 12,104,547 $ 5,108,804