2. Significant Accounting Policies: Principles of Consolidation. (Policies) |
6 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Policies | |
| Principles of Consolidation. | Principles of Consolidation. Under ASC 946, the Company is precluded from consolidating portfolio company investments, including those in which it has a controlling interest, unless the portfolio company is another investment company that is substantially wholly owned by it. That being said, the Company will generally consolidate a subsidiary when the design and purpose of the subsidiary is to act as an extension of the Company’s investment operations and to facilitate the execution of the Company’s investment strategy. The Company holds some of its investments at a subsidiary level (CBT SF LLC) and has elected to consolidate the subsidiary and treat it as an investment company. The Company has received participation capital from an investor at the CBT SF LLC level and has treated this investment as equity. |