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Control Investments - Rockfish Seafood Grill, Inc. - First Lien Loan 2025-12-31 0000845385 Control Investments - Rockfish Seafood Grill, Inc. - First Lien Loan 2025-01-01 2025-12-31 0000845385 Control Investments - Rockfish Seafood Grill, Inc. - First Lien Loan 2024-12-31 0000845385 Control Investments - Rockfish Seafood Grill, Inc. - Revolving Loan 2025-12-31 0000845385 Control Investments - Rockfish Seafood Grill, Inc. - Revolving Loan 2025-01-01 2025-12-31 0000845385 Control Investments - Rockfish Seafood Grill, Inc. - Revolving Loan 2024-12-31 0000845385 Control Investments - Rockfish Holdings, LLC - Warrant 2025-12-31 0000845385 Control Investments - Rockfish Holdings, LLC - Warrant 2025-01-01 2025-12-31 0000845385 Control Investments - Rockfish Holdings, LLC - Warrant 2024-12-31 0000845385 Control Investments - Rockfish Holdings, LLC - Membership Interest - Class A 2025-12-31 0000845385 Control Investments - Rockfish Holdings, LLC - Membership Interest - Class A 2025-01-01 2025-12-31 0000845385 Control Investments - Rockfish Holdings, LLC - Membership Interest - Class A 2024-12-31 0000845385 Control Investments 2025-01-01 2025-12-31 0000845385 Control Investments 2024-12-31 0000845385 Control Investments 2025-12-31 0000845385 Control Investments - Advantis Certified Staffing Solutions, Inc. - Second Lien Loan 2024-01-01 2024-12-31 0000845385 Control Investments - Advantis Certified Staffing Solutions, Inc. - Second Lien Loan 2023-12-31 0000845385 Control Investments - Advantis Certified Staffing Solutions, Inc. - Unsecured loan 2024-01-01 2024-12-31 0000845385 Control Investments - Advantis Certified Staffing Solutions, Inc. - Unsecured loan 2023-12-31 0000845385 Control Investments - Advantis Certified Staffing Solutions, Inc. - Common Stock - Series A 2024-01-01 2024-12-31 0000845385 Control Investments - Advantis Certified Staffing Solutions, Inc. - Common Stock - Series A 2023-12-31 0000845385 Control Investments - Advantis Certified Staffing Solutions, Inc. - Common Stock - Series B 2024-01-01 2024-12-31 0000845385 Control Investments - Advantis Certified Staffing Solutions, Inc. - Common Stock - Series B 2023-12-31 0000845385 Control Investments - Advantis Certified Staffing Solutions, Inc. - Warrant 2024-01-01 2024-12-31 0000845385 Control Investments - Advantis Certified Staffing Solutions, Inc. - Warrant 2023-12-31 0000845385 Control Investments - Advantis Certified Staffing Solutions, Inc. - Warrant One 2024-01-01 2024-12-31 0000845385 Control Investments - Advantis Certified Staffing Solutions, Inc. - Warrant One 2023-12-31 0000845385 Control Investments - Dominion Medical Management, Inc. - First Lien Loan 2024-12-31 0000845385 Control Investments - Dominion Medical Management, Inc. - First Lien Loan 2024-01-01 2024-12-31 0000845385 Control Investments - Dominion Medical Management, Inc. - First Lien Loan 2023-12-31 0000845385 Control Investments - Integrated Medical Partners, LLC - Preferred Membership - Class A units 2024-12-31 0000845385 Control Investments - Integrated Medical Partners, LLC - Preferred Membership - Class A units 2024-01-01 2024-12-31 0000845385 Control Investments - Integrated Medical Partners, LLC - Preferred Membership - Class A units 2023-12-31 0000845385 Control Investments - Integrated Medical Partners, LLC - Preferred Membership - Class B units 2024-12-31 0000845385 Control Investments - Integrated Medical Partners, LLC - Preferred Membership - Class B units 2024-01-01 2024-12-31 0000845385 Control Investments - Integrated Medical Partners, LLC - Preferred Membership - Class B units 2023-12-31 0000845385 Control Investments - Integrated Medical Partners, LLC - Common Units 2024-12-31 0000845385 Control Investments - Integrated Medical Partners, LLC - Common Units 2024-01-01 2024-12-31 0000845385 Control Investments - Integrated Medical Partners, LLC - Common Units 2023-12-31 0000845385 Control Investments - PCC SBH Sub, Inc. - Common Stock 2024-01-01 2024-12-31 0000845385 Control Investments - PCC SBH Sub, Inc. - Common Stock 2023-12-31 0000845385 Control Investments - PCC SBH Sub, Inc. - First lien Revolving Loan 2024-01-01 2024-12-31 0000845385 Control Investments - PCC SBH Sub, Inc. - First lien Revolving Loan 2023-12-31 0000845385 Control Investments - Rockfish Seafood Grill, Inc. - First Lien Loan 2024-01-01 2024-12-31 0000845385 Control Investments - Rockfish Seafood Grill, Inc. - First Lien Loan 2023-12-31 0000845385 Revolving Loan 2024-12-31 0000845385 Revolving Loan 2024-01-01 2024-12-31 0000845385 Revolving Loan 2023-12-31 0000845385 Control Investments - Rockfish Holdings, LLC - Warrant 2024-01-01 2024-12-31 0000845385 Control Investments - Rockfish Holdings, LLC - Warrant 2023-12-31 0000845385 Control Investments - Rockfish Holdings, LLC - Membership Interest - Class A 2024-01-01 2024-12-31 0000845385 Control Investments - Rockfish Holdings, LLC - Membership Interest - Class A 2023-12-31 0000845385 Control Investments 2024-01-01 2024-12-31 0000845385 Control Investments 2023-12-31 0000845385 2025-10-01 2025-12-31 iso4217:USD shares iso4217:USD shares pure 10-K true 2025-12-31 --12-31 2025 false 814-00710 PRINCETON CAPITAL CORPORATION MD 46-3516073 800 Turnpike Street Suite 300 North Andover MA 01845 (978) 794-3366 None true No No Yes Yes Non-accelerated Filer false false false false false 330114 120486061 Certain exhibits previously filed with the Securities and Exchange Commission are incorporated by reference into Part IV of this report <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Item 1A. RISK FACTORS</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Investing in our securities involves a number of significant risks. Before you invest in our securities, you should be aware of various risks, including those described below. You should carefully consider these risk factors, together with all of the other information included in this annual report on Form 10-K, before you decide whether to make an investment in our securities. The risks set out below are the principal risks with respect to an investment in our securities generally and with respect to a BDC with investment objectives, investment policies, capital structures or trading markets similar to ours. However, they may not be the only risks we face. Additional risks and uncertainties not presently known to us or not presently deemed material by us may also impair our operations and performance. If any of the following events occur, our business, financial condition, results of operations and cash flows could be materially and adversely affected. In such case, our net asset value and the trading price of our securities could decline, and you may lose all or part of your investment.</i></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Risks Relating to our Business and Structure</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>There are significant potential conflicts of interest that could negatively affect our investment returns.</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The investment professionals of House Hanover serve, or may serve, as officers, directors, members, or principals of entities that operate in the same or a related line of business as we do, or of investment funds, accounts, or investment vehicles managed by House Hanover. Similarly, House Hanover may have other clients with similar, different or competing investment objectives. In serving in these multiple capacities, they may have obligations to other clients or investors in those entities, the fulfillment of which may not be in the best interests of us or our stockholders.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>The management fee structure we have with House Hanover may create incentives that are not fully aligned with the interests of our stockholders.</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In the course of our investing activities, we will pay management fees to House Hanover. We have entered into an investment advisory agreement with House Hanover that provides that these fees will be based on the value of our net assets. As a result, investors in our common stock will invest on a gross basis and receive distributions on a net basis after expenses, resulting in a lower rate of return than one might achieve through direct investments.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our board of directors is charged with protecting our interests by monitoring how House Hanover addresses these and other conflicts of interests associated with its management services and compensation. While our board of directors is not expected to review or approve each investment decision, borrowing or incurrence of leverage, our independent directors will periodically review House Hanover’s services and fees as well as its portfolio management decisions and performance of our portfolio. In connection with these reviews, our independent directors will consider whether our fees and expenses (including those related to leverage) remain appropriate. As a result of this arrangement, House Hanover may from time to time have interests that differ from those of our stockholders, giving rise to a conflict.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>The involvement of our interested directors in the valuation process may create conflicts of interest.</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We expect to make many of our portfolio investments in the form of loans and securities that are not publicly traded and for which no market based price quotation is available. As a result, our board of directors will determine the fair value of these loans and securities in good faith as described below in “— Our portfolio investments will be recorded at fair value as determined in good faith by our board of directors and, as a result, there may be uncertainty as to the value of our portfolio investments.” In connection with that determination, investment professionals from House Hanover may provide our board of directors with valuations based upon the most recent portfolio company financial statements available and projected financial results of each portfolio company. While the valuation for most portfolio investments will be prepared quarterly by an independent valuation firm with the assistance of the Company’s Valuation Committee, the ultimate determination of fair value will be made by our board of directors, including our interested directors, and not by such third-party valuation firm. In addition, Mr. Mark DiSalvo, an interested member of our board of directors, has a direct pecuniary interest in House Hanover. The participation of House Hanover’s investment professionals in our valuation process, and the pecuniary interest in House Hanover by a member of our board of directors, could result in a conflict of interest as House Hanover’s management fee is based, in part, on the value of our gross assets.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>The time and resources that House Hanover devote to us may be diverted, and we may face additional competition due to the fact that House Hanover and its affiliates are not prohibited from raising money for, or managing, another entity that makes the same types of investments that we target.</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">House Hanover and some of its affiliates, including our officers and our non-independent directors, are not prohibited from raising money for, or managing, another investment entity that makes the same types of investments as those we target. For example, House Hanover could seek to raise capital for a private credit fund that will have an investment strategy that is identical to our investment strategy. House Hanover and we may seek exemptive relief from the SEC that would establish a co-investment program with investment funds, accounts and investment vehicles managed by House Hanover; however, there can be no assurance if and when the SEC would grant such relief. In addition, we may compete with any such investment entity for the same investors and investment opportunities.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>House Hanover’s liability is limited under the House Hanover Investment Advisory Agreement and we have agreed to indemnify House Hanover against certain liabilities, which may lead House Hanover to act in a riskier manner on our behalf than it would when acting for its own account.</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under the House Hanover Investment Advisory Agreement, House Hanover has not assumed any responsibility to us other than to render the services called for under that agreement. It will not be responsible for any action of our board of directors by following or declining to follow House Hanover’s advice or recommendations. Under the House Hanover Investment Advisory Agreement, House Hanover, its officers, members and personnel, and any person controlling or controlled by House Hanover will not be liable to us, any subsidiary of ours, our directors, our stockholders or any subsidiary’s stockholders or partners for acts or omissions performed in accordance with and pursuant to the House Hanover Investment Advisory Agreement, except those resulting from acts constituting gross negligence, willful misfeasance, bad faith or reckless disregard of the duties that House Hanover owes to us under the House Hanover Investment Advisory Agreement. In addition, as part of the House Hanover Investment Advisory Agreement, we have agreed to indemnify House Hanover and each of its officers, directors, members, managers and employees from and against any claims or liabilities, including reasonable legal fees and other expenses reasonably incurred, arising out of or in connection with our business and operations or any action taken or omitted on our behalf pursuant to authority granted by the House Hanover Investment Advisory Agreement, except where attributable to gross negligence, willful misfeasance, bad faith or reckless disregard of such person’s duties under the House Hanover Investment Advisory Agreement. These protections may lead House Hanover to act in a riskier manner when acting on our behalf than it would when acting for its own account.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Our ability to enter into transactions with our affiliates will be restricted, which may limit the scope of investments available to us.</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We are prohibited under the 1940 Act from participating in certain transactions with our affiliates without the prior approval of our independent directors and, in some cases, the SEC. Any person that owns, directly or indirectly, 5% or more of our outstanding voting securities will be our affiliate for purposes of the 1940 Act, and we are generally prohibited from buying or selling any security from or to such affiliate without the prior approval of our independent directors. The 1940 Act also prohibits certain “joint” transactions with certain of our affiliates, which could include concurrent investments in the same portfolio company, without prior approval of our independent directors and, in some cases, of the SEC. We are prohibited from buying or selling any security from or to any person that controls us or who owns more than 25% of our voting securities or certain of that person’s affiliates, or entering into prohibited joint transactions with such persons, absent the prior approval of the SEC. As a result of these restrictions, we may be prohibited from buying or selling any security (other than any security of which we are the issuer) from or to any portfolio company of a private fund managed by House Hanover or its affiliates without the prior approval of the SEC, which may limit the scope of investment opportunities that would otherwise be available to us.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We may, however, invest alongside House Hanover’s investment funds, accounts and investment vehicles in certain circumstances where doing so is consistent with our investment strategy as well as applicable law and SEC staff interpretations. For example, we may invest alongside such investment funds, accounts and investment vehicles consistent with guidance promulgated by the SEC staff to purchase interests in a single class of privately placed securities so long as certain conditions are met, including that House Hanover, acting on our behalf and on behalf of such investment funds, accounts and investment vehicles, negotiates no term other than price. We may also invest alongside House Hanover’s investment funds, accounts and investment vehicles as otherwise permissible under regulatory guidance, applicable regulations and House Hanover’s allocation policy. This allocation policy provides that allocations among us and investment funds, accounts and investment vehicles managed by House Hanover and its affiliates will generally be made pro rata based on capital available for investment, as determined, in our case, by our board of directors as well as the terms of our governing documents and those of such investment funds, accounts and investment vehicles. It is our policy to base our determinations on such factors as the amount of cash on-hand, existing commitments and reserves, if any, our targeted leverage level, our targeted asset mix and diversification requirements and other investment policies and restrictions set by our board of directors or imposed by applicable laws, rules, regulations or interpretations. We expect that these determinations will be made similarly for investment funds, accounts and investment vehicles managed by House Hanover. However, we can offer no assurance that investment opportunities will be allocated to us fairly or equitably in the short-term or over time.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In situations where co-investment with investment funds, accounts and investment vehicles managed by House Hanover, prior to receiving exemptive relief, is not permitted or appropriate, such as when there is an opportunity to invest concurrently in different securities of the same issuer or where the different investments could be expected to result in a conflict between our interests and those of House Hanover’s clients, subject to the limitations described in the preceding paragraph, House Hanover will need to decide which client will proceed with the investment. House Hanover will make these determinations based on its policies and procedures, which generally require that such opportunities be offered to eligible accounts on an alternating basis that will be fair and equitable over time. Moreover, except in certain circumstances, we will be unable to invest in any issuer in which an investment fund, account or investment vehicle managed by House Hanover has previously invested.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We and House Hanover may seek exemptive relief from the SEC to permit greater flexibility to negotiate the terms of co-investments if our board of directors determines that it would be advantageous for us to co-invest with investment funds, accounts and investment vehicles managed by House Hanover in a manner consistent with our investment objective, positions, policies, strategies and restrictions as well as regulatory requirements and other pertinent factors. We believe that co-investment by us and investment funds, accounts and investment vehicles managed by House Hanover may afford us additional investment opportunities and an ability to achieve greater diversification. Accordingly, if we make an application for exemptive relief, we will seek an exemptive order permitting us to invest with investment funds, accounts and investment vehicles managed by House Hanover in the same portfolio companies under circumstances in which such investments would otherwise not be permitted by the 1940 Act. We expect that such exemptive relief permitting co-investments, if granted, would not require review and approval of each co-investment by our independent directors. There can be no assurance if and when the SEC would grant such relief.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>You may not receive distributions, or our distributions may not grow over time.</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We cannot assure you that we will achieve investment results that will allow us to make a specified level of cash distributions or year-to-year increases in cash distributions. Our ability to pay distributions might be adversely affected by the impact of one or more of the risk factors described in this filing. Due to the asset coverage test applicable to us under the 1940 Act as a BDC, we may be limited in our ability to make distributions. All distributions will be made at the discretion of our board of directors and will depend on our earnings, financial condition, maintenance of RIC status, compliance with applicable BDC requirements, and such other factors as our board of directors may deem relative from time to time. We cannot assure you that we will make distributions to our stockholders in the future.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>We may have difficulty paying required distributions to qualify as a RIC if we recognize income before, or without, receiving cash representing such income.</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For U.S. federal income tax purposes, we will include in income certain amounts that we have not yet received in cash, such as the accrual of original issue discount. This may arise if we receive warrants in connection with the making of a loan and in other circumstances, or through contracted PIK interest, which represents contractual interest added to the loan balance and due at the end of the loan term. Such original issue discount, which could be significant relative to our overall investment activities, and increases in loan balances as a result of contracted PIK arrangements will be included in income before we receive any corresponding cash payments. We also may be required to include in income certain other amounts that we will not receive in cash.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Since we may recognize income before or without receiving cash representing such income, we may have difficulty meeting the requirement to distribute at least 90% of our net ordinary income and net short-term capital gains in excess of net long-term capital losses, if any, to achieve qualification as a RIC. In such a case, we may have to sell some of our investments at times we would not consider advantageous, raise additional debt or equity capital or reduce new investment originations to meet these distribution requirements. If we are not able to obtain such cash from other sources, we may continue to fail to qualify as a RIC and thus be subject to corporate-level income tax.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>PIK interest payments we receive will increase our assets under management and, as a result, will increase the amount of base management fees payable by us to House Hanover.</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain of our debt investments may contain provisions providing for the payment of PIK interest. Because PIK interest results in an increase in the size of the loan balance of the underlying loan, the receipt by us of PIK interest will have the effect of increasing our assets under management. As a result, because the base management fee that we pay to House Hanover is based on the value of our gross assets, the receipt by us of PIK interest will result in an increase in the amount of the base management fee payable by us.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Our portfolio investments will be recorded at fair value as determined in good faith by our board of directors and, as a result, there may be uncertainty as to the value of our portfolio investments.</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As a BDC, we generally invest in illiquid loans and securities including debt and equity securities of middle-market companies. Under procedures established by our board of directors, we value investments for which market quotations are readily available at such market quotations. We obtain these market values from an independent pricing service or at the mean between the bid and ask prices obtained from at least two brokers or dealers (if available, otherwise by a principal market maker or a primary market dealer). Debt and equity securities that are not publicly traded or whose market prices are not readily available are valued at fair value as determined in good faith by our board of directors. Such determination of fair values may involve subjective judgments and estimates, although we engage independent valuation providers to review the valuation of each portfolio investment that does not have a readily available market quotation quarterly. Investments purchased within 60 days of maturity are valued at cost plus accreted discount, or minus amortized premium, which approximate fair value. With respect to unquoted securities, our board of directors values each investment considering, among other measures, discounted cash flow models, comparisons of financial ratios of peer companies that are public and other factors, which are provided by a nationally recognized independent valuation firm. The Company has engaged a third-party valuation firm to perform its independent valuations of the Company’s Level 3 investments. This valuation firm provides a range of values for selected investments, which is presented to the Valuation Committee to determine the value for each of the selected investments.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">When an external event such as a purchase transaction, public offering or subsequent equity sale occurs, our board of directors uses the pricing indicated by the external event to corroborate and/or assist us in our valuation. Because there is not a readily available market for substantially all of the investments in our portfolio, we value our portfolio investments at fair value as determined in good faith by our board of directors using a documented valuation policy and a consistently applied valuation process. Due to the inherent uncertainty of determining the fair value of investments that do not have a readily available market value, the fair value of our investments may differ significantly from the values that would have been used had a readily available market value existed for such investments, and the differences could be material.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">With respect to investments for which market quotations are not readily available, our board of directors undertakes a multi-step valuation process each quarter, as described below:</span></p><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our quarterly valuation process begins with each portfolio company or investment being initially valued by an independent valuation firm, except for those investments where market quotations are readily available;</span></td> </tr></table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Preliminary valuation conclusions are then documented and discussed with our senior management, our investment advisor, and our auditors;</span></td> </tr></table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The valuation committee of our board of directors then reviews these preliminary valuations and approves them for recommendation to the board of directors;</span></td> </tr></table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The board of directors then discusses valuations and determines the fair value of each investment in our portfolio in good faith, based on the input of our investment advisor, the independent valuation firm and the valuation committee.</span></td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Our common stock is traded on the Over the Counter Pink Market, which may make it more difficult for investors to resell their shares due to suitability requirements.</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our common stock is currently traded on the OTC Market under the symbol “PIAC” where we expect it to remain in the foreseeable future. We do not believe that we will become eligible for the OTCQB Market in the foreseeable future because of our inability to meet the required public float restrictions of the OTCQB Market. Broker-dealers often decline to trade in OTC Pink stocks given the markets for such securities are often limited, the stocks are more volatile, and the risk to investors is greater. These factors may reduce the potential market for our common stock by reducing the number of potential investors. This may make it more difficult for investors in our common stock to sell shares to third parties or to otherwise dispose of their shares. This could cause our stock price to decline.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Our board of directors may change our investment objective, operating policies and strategies without prior notice or stockholder approval.</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our board of directors has the authority, except as otherwise provided in the 1940 Act, to modify or waive certain of our operating policies and strategies without prior notice and without stockholder approval. However, absent stockholder approval, we may not change the nature of our business so as to cease to be, or withdraw our election as, a BDC. We cannot predict the effect any changes to our current operating policies and strategies would have on our business, operating results and the market price of our common stock. Nevertheless, any such changes could adversely affect our business and impair our ability to make distributions to our stockholders.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Provisions of the Maryland General Corporation Law and of our charter and bylaws could deter takeover attempts and have an adverse impact on the price of our common stock.</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Maryland General Corporation Law and our charter and bylaws contain provisions that may discourage, delay or make more difficult a change in control of the Company or the removal of our directors. We are subject to the Maryland Business Combination Act, subject to any applicable requirements of the 1940 Act. Our board of directors has adopted a resolution exempting from the Business Combination Act any business combination between us and any other person, subject to prior approval of such business combination by our board of directors, including approval by a majority of our independent directors. If the resolution exempting business combinations is repealed or our board of directors does not approve a business combination, the Business Combination Act may discourage third parties from trying to acquire control of us and increase the difficulty of consummating such an offer. Our bylaws exempt from the Maryland Control Share Acquisition Act acquisitions of our stock by any person. If we amend our bylaws to repeal the exemption from the Control Share Acquisition Act, the Control Share Acquisition Act also may make it more difficult for a third party to obtain control of us and increase the difficulty of consummating such a transaction.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We have also adopted measures that may make it difficult for a third party to obtain control of us, including authorizing our board of directors to classify or reclassify shares of our stock in one or more classes or series, to cause the issuance of additional shares of our stock and to amend our charter without stockholder approval to increase or decrease the number of shares of stock that we have authority to issue. These provisions, as well as other provisions of our charter and bylaws, may delay, defer or prevent a transaction or a change in control that might otherwise be in the best interests of our stockholders.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The foregoing provisions are expected to discourage certain coercive takeover practices and inadequate takeover bids and to encourage persons seeking to acquire control of us to negotiate first with our board of directors. However, these provisions may deprive a stockholder of the opportunity to sell such stockholder’s shares of a premium to a potential acquirer. We believe that the benefits of these provisions outweigh the potential disadvantages of discouraging any such acquisition proposals because, among other things, the negotiation of such proposals may improve their terms. Our board of directors has considered both the positive and negative effects of the foregoing provisions and determined that they are in the best interests of our stockholders.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>House Hanover can resign as our investment advisor and administrator upon 60 days’ notice and we may not be able to find suitable replacements within that time, or at all, resulting in a disruption in our operations that could adversely affect our financial condition, business and results of operations.</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">House Hanover has the right under the House Hanover Investment Advisory Agreement to resign as our investment adviser and administrator at any time upon 60 days’ written notice, whether we have found a replacement or not. If House Hanover was to resign, we may not be able to find a new investment adviser or administrator or hire internal management with similar expertise and ability to provide the same or equivalent services on acceptable terms within 60 days, or at all. If we are unable to do so quickly, our operations are likely to experience a disruption, our financial condition, business and results of operations as well as our ability to pay distributions to our stockholders are likely to be adversely affected and the market price of our shares may decline. In addition, the coordination of our internal management and investment or administrative activities, as applicable, is likely to suffer if we are unable to identify and reach an agreement with a single institution or group of executives having the expertise possessed by House Hanover. Even if we are able to retain comparable management, whether internal or external, the integration of such management and their lack of familiarity with our investment objective may result in additional costs and time delays that may adversely affect our business, financial condition, results of operations and cash flows.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Cybersecurity risks and cyber incidents may adversely affect our business or those of our portfolio companies by causing a disruption to our operations, a compromise or corruption of confidential information and/or damage to business relationships, or those of our portfolio companies, all of which could negatively impact our business, results of operations or financial condition.</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A cyber incident is considered to be any adverse event that threatens the confidentiality, integrity or availability of our information resources. These incidents may be an intentional attack or an unintentional event and could involve gaining unauthorized access to, use, alteration or destruction of our information systems for purposes of misappropriating assets, obtaining ransom payments, stealing confidential information, corrupting data or causing operational disruption, or may involve phishing. The result of these incidents may include disrupted operations, misstated or unreliable financial data, liability for stolen information, misappropriation of assets, increased cybersecurity protection and insurance costs, litigation and damage to our business relationships. This could result in significant losses, reputational damage, litigation, regulatory fines or penalties, or otherwise adversely affect our business, financial condition or results of operations. In addition, we may be required to expend significant additional resources to modify our protective measures and to investigate and remediate vulnerabilities or other exposures arising from operational and security risks. The costs related to cybersecurity incidents may not be fully insured or indemnified. As our and our portfolio companies’ reliance on technology has increased, so have the risks posed to our information systems, both internal and those provided by our Investment Adviser and third-party service providers, and the information systems of our portfolio companies. We, our Investment Adviser and its affiliates have implemented processes, procedures and internal controls to help mitigate cybersecurity risks and cyber intrusions, but these measures, as well as our increased awareness of the nature and extent of a risk of a cyber incident, may be ineffective and do not guarantee that a cyber incident will not occur or that our financial results, operations or confidential information will not be negatively impacted by such an incident.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Third parties with which we do business (including, but not limited to, service providers, such as accountants, attorneys, custodians, transfer agents and administrators, and the issuers of securities in which we invest) may also be sources or targets of cybersecurity or other technological risks. We outsource certain functions and these relationships allow for the storage and processing of our information and assets, as well as certain investor, counterparty and borrower information. While we engage in actions to reduce our exposure resulting from outsourcing, we cannot control the cybersecurity plans and systems put in place by these third parties and ongoing threats may result in unauthorized access, loss, exposure or destruction of data, or other cybersecurity incidents, with increased costs and other consequences, including those described above. Privacy and information security laws and regulation changes, and compliance with those changes, may also result in cost increases due to system changes and the development of new administrative processes.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>We may hold the loans and debt securities of leveraged companies that may, due to the significant operating volatility typical of such companies, enter into bankruptcy proceedings.</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Leveraged companies may experience bankruptcy or similar financial distress. The bankruptcy process has a number of significant inherent risks. Many events in a bankruptcy proceeding are the product of contested matters and adversary proceedings and are beyond the control of the creditors. A bankruptcy filing by a portfolio company may adversely and permanently affect that company. If the proceeding is converted to a liquidation, the value of the portfolio company may not equal the liquidation value that was believed to exist at the time of the investment. The duration of a bankruptcy proceeding is also difficult to predict, and a creditor’s return on investment can be adversely affected by delays until the plan of reorganization or liquidation ultimately becomes effective. The administrative costs in connection with a bankruptcy proceeding are frequently high and would be paid out of the debtor’s estate prior to any return to creditors. Because the standards for classification of claims under bankruptcy law are vague, our influence with respect to the class of securities or other obligations we own may be lost by increases in the number and amount of claims in the same class or by different classification and treatment. In the early stages of the bankruptcy process, it is often difficult to estimate the extent of, or even to identify, any contingent claims that might be made. In addition, certain claims that have priority by law (for example, claims for taxes) may be substantial.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Our investments in private and small and lower middle-market portfolio companies are risky, and we could lose all or part of our investment.</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investments in private and small and lower middle-market companies involve a number of significant risks. Generally, little public information exists about these companies, and we will rely on the ability of House Hanover’s investment professionals to obtain adequate information to evaluate the potential returns from investing in these companies. If we are unable to uncover all material information about these companies, we may not make a fully informed investment decision, and we may lose money on our investments. Small and lower middle-market companies may have limited financial resources and may be unable to meet their obligations under their loans and debt securities that we hold, which may be accompanied by a deterioration in the value of any collateral and a reduction in the likelihood of our realizing any guarantees we may have obtained in connection with our investment. In addition, such companies typically have shorter operating histories, narrower product lines and smaller market shares than larger businesses, which tend to render them more vulnerable to competitors’ actions and adverse market conditions, as well as general economic downturns. Additionally, middle-market companies are more likely to depend on the management talents and efforts of a small group of persons. Therefore, the death, disability, resignation or termination of one or more of these persons could have a material adverse impact on one or more of the portfolio companies we invest in and, in turn, on us. Small and lower middle-market companies also may be parties to litigation and may be engaged in rapidly changing businesses with products subject to a substantial risk of obsolescence. In addition, our executive officers, directors and investment advisor may, in the ordinary course of business, be named as defendants in litigation arising from our investments in portfolio companies.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>The lack of liquidity in our investments may adversely affect our business.</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All of our assets may be invested in illiquid loans and securities, and a substantial portion of our investments in leveraged companies will be subject to legal and other restrictions on resale or will otherwise be less liquid than more broadly traded public securities. The illiquidity of these investments may make it difficult for us to sell such investments if the need arises. In addition, if we are required to liquidate all or a portion of our portfolio quickly, we may realize significantly less than the value at which we have previously recorded our investments. Also, as noted above, we may be limited or prohibited in our ability to sell or otherwise exit certain positions in our initial portfolio as such a transaction could be considered a joint transaction prohibited by the 1940 Act.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>We are a non-diversified investment company as defined under the 1940 Act, and therefore we are not limited with respect to the proportion of our assets that may be invested in securities of a single issuer.</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We are classified as a non-diversified investment company as defined under the 1940 Act, which means that we are not limited by the 1940 Act with respect to the proportion of our assets that we may invest in securities of a single issuer. Beyond the asset diversification requirements associated with our qualification as a RIC under the Code, we do not have fixed guidelines for diversification. To the extent that we assume large positions in the securities of a small number of issuers or our investments are concentrated in relatively few industries, our net asset value may fluctuate to a greater extent than that of a diversified investment company as a result of changes in the financial condition or the market’s assessment of the issuer. We may also be more susceptible to any single economic or regulatory occurrence than a diversified investment company.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Our failure to make follow-on investments in our portfolio companies could impair the value of our portfolio.</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Following an initial investment in a portfolio company, we may make additional investments in that portfolio company as “follow-on” investments, in seeking to increase or maintain in whole or in part our position as a creditor or equity ownership percentage in a portolio company, exercise warrants, options or convertible securities that were acquired in the original or subsequent financing, or preserve or enhance the value of our investment.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We have discretion to make follow-on investments, subject to the availability of capital resources. Failure on our part to make follow-on investments may, in some circumstances, jeopardize the continued viability of a portfolio company and our initial investment, or may result in a missed opportunity for us to increase our participation in a successful operation. Even if we have sufficient capital to make a desired follow-on investment, we may elect not to make a follow-on investment because we may not want to increase our level of risk, because we prefer other opportunities or because we are inhibited by compliance with BDC requirements of the 1940 Act or the desire to maintain our qualification as a RIC. Our ability to make follow-on investments may also be limited by House Hanover’s allocation policy.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>When we do not hold controlling equity interests in our portfolio companies, we may not be able to exercise control over our portfolio companies or to prevent decisions by management of our portfolio companies that could decrease the value of our investments.</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If we do not hold controlling equity positions in the portfolio companies included in our portfolio, we will be subject to the risk that a portfolio company may make business decisions with which we disagree, and that the management and/or stockholders of a portfolio company may take risks or otherwise act in ways that are adverse to our interests. Due to the lack of liquidity of the debt and equity investments that we expect to hold in our portfolio companies, we may not be able to dispose of our investments in the event we disagree with the actions of a portfolio company and may therefore suffer a decrease in the value of our investments.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Our portfolio companies may incur debt that ranks equally with, or senior to, our investments in such companies.</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We intend to invest a portion of our capital in second lien and subordinated loans issued by our portfolio companies. The portfolio companies usually have, or may be permitted to incur, other debt that ranks equally with, or senior to, the loans in which we invest. By their terms, such debt instruments may provide that the holders are entitled to receive payment of interest or principal on or before the dates on which we are entitled to receive payments in respect of the loans in which we invest. Also, in the event of insolvency, liquidation, dissolution, reorganization or bankruptcy of a portfolio company, holders of debt instruments ranking senior to our investment in that portfolio company would typically be entitled to receive payment in full before we receive any distribution in respect of our investment. After repaying senior creditors, a portfolio company may not have any remaining assets to use for repaying its obligation to us. In the case of debt ranking equally with loans in which we invest, we would have to share any distributions on an equal and ratable basis with other creditors holding such debt in the event of an insolvency, liquidation, dissolution, reorganization or bankruptcy of the relevant portfolio company.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additionally, certain loans that we may make to portfolio companies may be secured on a second priority basis by the same collateral securing senior secured debt of such companies. The first priority liens on the collateral will secure the portfolio company’s obligations under any outstanding senior debt and may secure certain other future debt that may be permitted to be incurred by the portfolio company under the agreements governing the loans. The holders of obligations secured by first priority liens on the collateral will generally control the liquidation of, and be entitled to receive proceeds from, any realization of the collateral to repay their obligations in full before us. In addition, the value of the collateral in the event of liquidation will depend on market and economic conditions, the availability of buyers and other factors. There can be no assurance that the proceeds, if any, from sales of all of the collateral would be sufficient to satisfy the loan obligations secured by the second priority liens after payment in full of all obligations secured by the first priority liens on the collateral. If such proceeds were not sufficient to repay amounts outstanding under the loan obligations secured by the second priority liens, then we, to the extent not repaid from the proceeds of the sale of the collateral, will only have an unsecured claim against the portfolio company’s remaining assets, if any.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>If we make subordinated investments, the obligors or the portfolio companies may not generate sufficient cash flow to service their debt obligations to us.</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We may make subordinated investments that rank below other obligations of the obligor in right of payment. Subordinated investments are subject to greater risk of default than senior obligations as a result of adverse changes in the financial condition of the obligor or economic conditions in general. If we make a subordinated investment in a portfolio company, the portfolio company may be highly leveraged, and its relatively high debt-to-equity ratio may create increased risks that its operations might not generate sufficient cash flow to service all of its debt obligations.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Risks Relating to our Common Stock</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Our share ownership is concentrated.</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of April 1, 2026 the Partnerships beneficially own approximately 95% of our outstanding common stock. As a result, the Partnerships will exert significant influence over all matters requiring stockholder approval, including the election and removal of directors, any merger, consolidation or sale of all or substantially all of the assets, as well as any charter amendment and other matters requiring stockholder approval. This concentration of ownership may delay or prevent a change in control and may have a negative impact on the market price of our common stock by discouraging third party investors. In addition, the interests of the Partnerships may not always coincide with the interests of our other stockholders.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>The Company’s common stock may be subject to the penny stock rules which might make it harder for stockholders to sell.</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As a result of our stock price, our shares are subject to the penny stock rules. Because a “penny stock” is, generally speaking, one selling for less than $5.00 per share, the Company’s common stock may be subject to the foregoing rules. The application of the penny stock rules may affect stockholders’ ability to sell their shares because some broker-dealers may not be willing to make a market in the Company’s common stock because of the burdens imposed upon them by the penny stock rules which include but are not limited to:</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section 15(g) of the Securities Exchange Act of 1934 and SEC Rules 15g-1 through 15g-6, which impose additional sales practice requirements on broker-dealers who sell Company securities to persons other than established customers and accredited investors.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Rule 15g-2 declares unlawful any broker-dealer transactions in penny stocks unless the broker-dealer has first provided to the customer a standardized disclosure document.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Rule 15g-3 provides that it is unlawful for a broker-dealer to engage in a penny stock transaction unless the broker-dealer first discloses and subsequently confirms to the customer the current quotation prices or similar market information concerning the penny stock in question.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Rule 15g-4 prohibits broker-dealers from completing penny stock transactions for a customer unless the broker-dealer first discloses to the customer the amount of compensation or other remuneration received as a result of the penny stock transaction.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Rule 15g-5 requires that a broker-dealer executing a penny stock transaction, other than one exempt under Rule 15g-1, disclose to its customer, at the time of or prior to the transaction, information about the sales persons compensation.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Potential stockholders of the Company should also be aware that, according to SEC Release No. 34-29093, the market for penny stocks has suffered in recent years from patterns of fraud and abuse. Such patterns include (i) control of the market for the security by one or a few broker-dealers that are often related to the promoter or issuer; (ii) manipulation of prices through prearranged matching of purchases and sales and false and misleading press releases; (iii) “boiler room” practices involving high-pressure sales tactics and unrealistic price projections by inexperienced sales persons; (iv) excessive and undisclosed bid-ask differential and markups by selling broker-dealers; and (v) the wholesale dumping of the same securities by promoters and broker dealers after prices have been manipulated to a desired level, along with the resulting inevitable collapse of those prices and with consequent investor losses.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Cybersecurity Program Overview</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Investment Adviser has instituted a cybersecurity program designed to identify, assess, and manage cyber risks applicable to the Company. The cyber risk management program involves risk assessments, implementation of security measures, and ongoing monitoring of systems and networks, including networks on which the Company relies. The Investment Adviser actively monitors the current threat landscape in an effort to identify material risks arising from new and evolving cybersecurity threats, including material risks faced by the Company.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company relies on the Investment Adviser to engage external experts, including cybersecurity assessors, consultants, and auditors, to evaluate cybersecurity measures and risk management processes, including those applicable to the Company. The Company relies on the Investment Adviser’s risk management program and processes, which include cyber risk assessments.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company depends on and engages various third parties, including suppliers, vendors, and service providers, to operate its business. The Company relies on the expertise of risk management, legal, information technology, and compliance personnel of the Investment Adviser when identifying and overseeing risks from cybersecurity threats associated with the Company’s use of such entities.</span></p> true true <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Board Oversight of Cybersecurity Risks</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The board of directors of the Company (“Board”) provides strategic oversight on cybersecurity matters, including risks associated with cybersecurity threats. The Board receives periodic updates from the Chief Compliance Officer (“CCO”) of the Company, who also serves as Chief Compliance Officer of the Investment Adviser, regarding the overall state of the Investment Adviser’s cybersecurity program, information on the current threat landscape, and briefing on material risks from cybersecurity threats and material cybersecurity incidents impacting the Company.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Management's Role in Cybersecurity Risk Management</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s Management, including the Company’s CCO, manages the Company’s cybersecurity program, under the supervision of the Company’s Audit Committee. The CCO of the Company oversees the Company’s risk management function generally and relies on the Investment Adviser to assist with assessing and managing material risks from cybersecurity threats. The Company’s CCO has been responsible for this oversight function as CCO to the Company for over 7 years and has worked in the financial services industry for over 25 years, during which time the CCO has gained expertise in assessing and managing risks applicable to the Company.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management of the Company is informed about and monitors the prevention, detection, mitigation, and remediation of cybersecurity incidents impacting the Company, including through the receipt of notifications from service providers and reliance on communications with risk management, legal, information technology, and/or compliance personnel of the Investment Adviser.</span></p> The Company’s Management, including the Company’s CCO, manages the Company’s cybersecurity program, under the supervision of the Company’s Audit Committee. The CCO of the Company oversees the Company’s risk management function generally and relies on the Investment Adviser to assist with assessing and managing material risks from cybersecurity threats. The Company’s CCO has been responsible for this oversight function as CCO to the Company for over 7 years and has worked in the financial services industry for over 25 years, during which time the CCO has gained expertise in assessing and managing risks applicable to the Company. true <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management of the Company is informed about and monitors the prevention, detection, mitigation, and remediation of cybersecurity incidents impacting the Company, including through the receipt of notifications from service providers and reliance on communications with risk management, legal, information technology, and/or compliance personnel of the Investment Adviser.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The potential impact of risks from cybersecurity threats on the Company are assessed on an ongoing basis, and how such risks could materially affect the Company’s business strategy, operational results, and financial condition are regularly evaluated. During the reporting period, the Company has not identified any risks from cybersecurity threats, including as a result of previous cybersecurity incidents, that the Company believes have materially affected, or are reasonably likely to materially affect, the Company, including its business strategy, operational results, and financial condition.</span></p> true 100 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Opinion on the Financial Statements</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have audited the accompanying Statements of Assets and Liabilities of Princeton Capital Corporation (the "Company"), including the schedules of investments, as of December 31, 2025 and 2024, the related statements of operations, changes in net assets, and cash flows for each of the three years in the period ended December 31, 2025, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2025 and 2024, and the results of its operations and its cash flows for each of the three years in the period ended December 31, 2025, in conformity with accounting principles generally accepted in the United States of America.</p> WithumSmith+Brown, PC Whippany, New Jersey 21745606 21690606 12188395 15066529 12365846 12365846 2073060 4151250 34111452 34056452 14261455 19217779 241832 1290864 5000 5000 34397 33049 0 0 148721 584769 67194 76418 14758599 21207879 135373 55286 130390 16545 194625 64875 456 34754 27907 495598 164613 14263001 21043266 0.001 0.001 250000000 250000000 120486061 120486061 120486061 120486061 120486 120486 64868884 64868884 -50726369 -43946104 14263001 21043266 0.118 0.175 9469 689083 1254375 132474 270775 1050876 318417 166339 13953 13953 8140 45 91823 1163 155941 1384051 2480893 184133 257384 317546 431768 423877 415092 202800 169520 149136 114780 158589 187687 90000 90000 90000 34465 14540 150000 150000 150000 131708 117236 151193 207 444517 130611 143392 138465 1914782 1524538 1599326 -1758841 -140487 881567 10100 -1850 64993 -1768941 -138637 816574 -5549735 -1200 -5549735 -1200 -2078190 -7320698 -1075753 -2933134 2147774 81479 -5011324 -5172924 -994274 -5011324 -10722659 -995474 -6780265 -10861296 -178900 -0.015 -0.001 0.007 -0.015 -0.001 0.007 -0.057 -0.09 -0.001 0.057 0.09 0.001 120486061 120486061 120486061 120486061 120486061 120486061 21043266 31904562 32083462 -1768941 -138637 816574 -5549735 -1200 -5011324 -5172924 -994274 -6780265 -10861296 -178900 -6780265 -10861296 -178900 14263001 21043266 31904562 120486061 120486061 120486061 120486061 120486061 120486061 -6780265 -10861296 -178900 -192932 -5549735 -1200 -5011324 -5172924 -994274 55000 80000 318417 166339 1348 6457 250 -436048 42535 232064 16549 -9224 29112 11754 80087 -23603 -13045 113845 -142927 -20624 129750 456 -64537 64537 41860 6847 -13953 -65782 -1049032 -683795 413113 -1049032 -683795 413113 1295864 1979659 1566546 246832 1295864 1979659 207 456 62687 456 0.12 2021-11-30 2015-03-13 4500000 4500000 3714696 0.2604 0.0633 2027-12-31 2019-10-01 1381586 1381586 2017-07-02 225000 10150 2017-07-02 9500000 428571 250000 0.01 2027-01-01 2017-07-02 1 11278 700000 0.01 2027-01-01 2016-12-31 1 6331585 3714696 0.2604 2017-02-06 100 2525481 884342 0.062 0.10 2026-05-08 2024-05-08 135000 135000 135000 0.0095 2660481 1019342 0.0715 0.08 0.06 2018-03-31 2015-03-13 6352944 6352944 5020776 0.352 0.08 2027-12-31 2015-06-29 2251000 2251000 2433581 0.1706 0.001 0.01 2028-07-28 2015-03-13 10 414960 2015-03-13 99.997 3734636 12753540 7454357 0.5226 21745606 12188395 0.8545 0.10 2026-12-31 2016-07-01 7234756 7234756 2073060 0.1454 2016-07-01 25.97 5131090 12365846 2073060 0.1454 12365846 2073060 0.1454 34111452 14261455 0.9999 34111452 14261455 0.9999 14261455 0.9999 14261455 0.9999 7454357 0.5226 3714696 0.2604 2073060 0.1454 1019342 0.0715 14261455 0.9999 0.12 2021-11-30 2015-03-13 4500000 4500000 3836547 0.1824 0.0633 2027-12-31 2019-10-01 1381586 1381586 2017-07-02 225000 10150 2017-07-02 9500000 428571 250000 0.01 2027-01-01 2017-07-02 1 11278 700000 0.01 2027-01-01 2016-12-31 1 6331585 3836547 0.1824 2017-02-06 100 2525481 1379019 0.0655 0.10 2026-05-08 2024-05-08 80000 80000 80000 0.0038 2605481 1459019 0.0693 0.08 0.06 2018-03-31 2015-03-13 6352944 6352944 7519963 0.3575 0.08 2027-12-31 2015-06-29 2251000 2251000 2251000 0.107 0.001 0.01 2028-07-28 2015-03-13 10 414960 2015-03-13 99.997 3734636 12753540 9770963 0.4645 21690606 15066529 0.7162 0.10 2026-12-31 2016-07-01 7234756 7234756 4151250 0.1973 2016-07-01 25.97 5131090 12365846 4151250 0.1973 12365846 4151250 0.1973 34056452 19217779 0.9135 34056452 19217779 0.9135 19217779 0.9135 19217779 0.9135 9770963 0.4644 4151250 0.1973 3836547 0.1824 1459019 0.0694 19217779 0.9135 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 1 – NATURE OF OPERATIONS </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>References herein to “we”, “us” or “our” refer to Princeton Capital Corporation (the “Company” or “Princeton Capital”), unless the context specifically requires otherwise.</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Princeton Capital Corporation, a Maryland corporation, was incorporated under the general laws of the State of Maryland on July 25, 2013. We are a non-diversified, closed-end investment company that has filed an election to be regulated as a business development company (“BDC”), under the Investment Company Act of 1940, as amended (the “1940 Act”). A goal of a BDC is to annually qualify and elect to be treated as a regulated investment company (“RIC”) under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”). The Company, however, did not meet the requirements to qualify as a RIC for the 2025 tax year and will be taxed as a corporation under Subchapter C of the Code and does not expect to meet the qualifications of a RIC until such time as certain strategic alternatives are achieved. While we have sought to invest primarily in private small and lower middle-market companies in various industries through first lien loans, second lien loans, unsecured loans, unitranche and mezzanine debt financing, often times with a corresponding equity investment, we are now (with a strategic alternatives process underway and limited resources) investing only in current investments and otherwise conserving cash. Our investment objective is to maximize the total return to our stockholders in the form of current income and capital appreciation through debt and related equity investments.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prior to March 13, 2015, Princeton Capital’s predecessor operated under the name Regal One Corporation (“Regal One”). Regal One had been located in Scottsdale, Arizona, and was a Florida corporation initially incorporated in 1959 as Electro-Mechanical Services Inc. Since inception, Regal One had been involved in several industries. In 1998, Electro-Mechanical Services Inc. changed its name to Regal One Corporation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 7, 2005, Regal One’s board of directors determined it was in the shareholders’ best interest to change the focus of its operations to providing financial consulting services through its network of advisors and professionals, and to be regulated as a BDC under the 1940 Act. On September 16, 2005, Regal One filed a Form N54A (Notification of Election by Business Development Companies) with the Securities and Exchange Commission (“SEC”), which transformed Regal One into a BDC in accordance with sections 55 through 65 of the 1940 Act. Regal One reported as an operating BDC from March 31, 2006 until March 13, 2015 and since March 13, 2015 (following the Reincorporation described below) Princeton Capital has reported as an operating BDC.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On December 27, 2017, the Board approved (specifically in accordance with Rule 15a-4(b)(1)(ii) of the Investment Company Act) and authorized the Company to enter into an Interim Investment Advisory Agreement between the Company and House Hanover, LLC, a Delaware limited liability company (“House Hanover”) (the “Interim Investment Advisory Agreement”), in accordance with Rule 15a-4 of the Investment Company Act. The effective date of the Interim Investment Advisory Agreement was January 1, 2018.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On April 5, 2018, the Board, including a majority of the independent directors, conditionally approved the Investment Advisory Agreement between the Company and House Hanover (the “House Hanover Investment Advisory Agreement”) subject to the approval of the Company’s stockholders at the 2018 Annual Meeting of Stockholders. The House Hanover Investment Advisory Agreement replaced the Interim Investment Advisory Agreement. On May 30, 2018, the Company’s stockholders approved the House Hanover Investment Advisory Agreement. The effective date of the House Hanover Investment Advisory Agreement was May 31, 2018. The House Hanover Investment Advisory Agreement was last annually renewed by the Board and by a majority of the members of the Board who are not parties to the House Hanover Investment Advisory Agreement or “interested persons” (as such term is defined in the 1940 Act) of any such party, in accordance with the requirements of the 1940 Act and the House Hanover Investment Advisory Agreement on May 12, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Since January 1, 2018, House Hanover has acted as our investment advisor under the Interim Investment Advisory Agreement (from January 1, 2018 until May 31, 2018) and the House Hanover Investment Advisory Agreement (since May 31, 2018).</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 15, 2019, our Board announced that the Company has initiated a strategic review process to identify, examine, and consider a range of strategic alternatives available to the Company, including but not limited to, (i) selling the Company’s assets to a business development company or other potential buyer, (ii) merging with another business development company, (iii) liquidating the Company’s assets in accordance with a plan of liquidation, (iv) raising additional funds for the Company, or (v) otherwise entering into another business combination, with the objective of maximizing stockholder value. As of December 31, 2025 and through the date of filing this Annual Report, the Company has not entered into any strategic alternative, and the strategic process remains ongoing.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 2 – SIGNIFICANT ACCOUNTING POLICIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Basis of Presentation</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). In accordance with Regulation S-X under the Securities Act of 1933 and Securities Exchange Act of 1934, the Company does not consolidate portfolio company investments. The accounting records of the Company are maintained in U.S. dollars. As an investment company, as defined by the 1940 Act, the Company follows investment company accounting and reporting guidance of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 946 – Financial Services - Investment Companies, which is U.S. GAAP.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Use of Estimates </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with U.S. GAAP requires our management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Changes in the economic environment, financial markets, creditworthiness of our portfolio companies and any other parameters used in determining these estimates could cause actual results to differ. It is likely that changes in these estimates will occur in the near term. The Company’s estimates are inherently subjective in nature and actual results could differ materially from such estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Portfolio Investment Classification</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company classifies its investments in accordance with the requirements of the 1940 Act. Under the 1940 Act, “Control Investments” are defined as investments in companies in which the Company owns more than 25% of the voting securities or maintains greater than 50% of the board representation. Under the 1940 Act, “Affiliated Investments” are defined as those non-control investments in companies in which the Company owns between 5% and 25% of the voting securities. Under the 1940 Act, “Non-affiliated Investments” are defined as investments that are neither Control Investments nor Affiliated Investments. As of December 31, 2025, the Company had control investments in Advantis Certified Staffing Solutions, Inc., PCC SBH Sub, Inc., Rockfish Holdings, LLC, and Rockfish Seafood Grill, Inc. as defined under the 1940 Act. As of December 31, 2024, the Company had control investments in Advantis Certified Staffing Solutions, Inc., PCC SBH Sub, Inc., Rockfish Holdings, LLC, and Rockfish Seafood Grill, Inc. as defined under the 1940 Act.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investments are recognized when we assume an obligation to acquire a financial instrument and assume the risks for gains or losses related to that instrument. Investments are derecognized when we assume an obligation to sell a financial instrument and forgo the risks for gains and losses related to that instrument. Specifically, we record all security transactions on a trade date basis. Investments in other non-security financial instruments, such as limited partnerships or private companies, are recorded on the basis of subscription date or redemption date, as applicable. Amounts for investments recognized or derecognized but not yet settled are reported as receivables for investments sold or payable for investments acquired, respectively, in the Statements of Assets and Liabilities.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Valuation of Investments</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In accordance with U.S. GAAP, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., the “exit price”) in an orderly transaction between market participants at the measurement date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In determining fair value, our board of directors uses various valuation approaches. In accordance with U.S. GAAP, ASC 820 establishes a fair value hierarchy for inputs and is used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Observable inputs are those that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the board of directors. Unobservable inputs reflect our board of director’s assumptions about the inputs market participants would use in pricing the asset or liability developed based on the best information available in the circumstances.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">With respect to investments for which market quotations are not readily available, our board of directors undertakes a multi-step valuation process each quarter, as described below:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our quarterly valuation process begins with each portfolio company or investment being initially valued by an independent valuation firm, except for those investments where market quotations are readily available;</span></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"></p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: justify; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Preliminary valuation conclusions are then documented and discussed with our senior management, our investment advisor, and our auditors;</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span> </p> <table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The valuation committee of our board of directors then reviews these preliminary valuations and approves them for recommendation to the board of directors; and</span></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The board of directors then discusses valuations and determines the fair value of each investment in our portfolio in good faith, based on the input of our investment advisor, the independent valuation firm and the valuation committee.</span></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">U.S. GAAP establishes a framework for measuring fair value that includes a hierarchy used to classify the inputs used in measuring fair value. The hierarchy prioritizes the inputs to valuation techniques used to measure fair value into three levels. The level in the fair value hierarchy within which the fair value measurement falls is determined based on the lowest level input that is significant to the fair value measurement. The levels of the fair value hierarchy are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 1 — Valuations based on unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. Valuation adjustments and block discounts are not applied to Level 1 securities. Since valuations are based on quoted prices that are readily and regularly available in an active market, valuation of these securities does not entail a significant degree of judgment.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 2 — Valuations based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 3 — Valuations based on inputs that are unobservable and significant to the overall fair value measurement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The availability of valuation techniques and observable inputs can vary from security to security and is affected by a wide variety of factors including, the type of security, whether the security is new and not yet established in the marketplace, and other characteristics particular to the transaction. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Those estimated values do not necessarily represent the amounts that may be ultimately realized due to the occurrence of future circumstances that cannot be reasonably determined. Because of the inherent uncertainty of valuation, those estimated values may be materially higher or lower than the values that would have been used had a ready market for the securities existed. Accordingly, the degree of judgment exercised by the board of directors in determining fair value is greatest for securities categorized in Level 3. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement in its entirety falls is determined based on the lowest level input that is significant to the fair value measurement. For the fair value measurements as of December 31, 2025, there were no changes in the valuation technique for the Company's investments from the prior quarter.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fair value is a market-based measure considered from the perspective of a market participant rather than an entity-specific measure. Therefore, even when market assumptions are not readily available, the Company’s own assumptions are set to reflect those that market participants would use in pricing the asset or liability at the measurement date. The Company uses prices and inputs that are current as of the measurement date, including periods of market dislocation. In periods of market dislocation, the observability of prices and inputs may be reduced for many securities. This condition could cause a security to be reclassified to a lower level within the fair value hierarchy.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Valuation Processes</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company establishes valuation processes and procedures to ensure that the valuation techniques for investments that are categorized within Level 3 of the fair value hierarchy are fair, consistent, and verifiable. The Company’s board of directors designates a Valuation Committee (the “Committee”) to oversee the entire valuation process of the Company’s Level 3 investments. The Committee is comprised of independent directors and reports to the Company’s board of directors. The Committee is responsible for developing the Company’s written valuation processes and procedures, conducting periodic reviews of the valuation policies, and evaluating the overall fairness and consistent application of the valuation policies.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Committee meets on a quarterly basis, or more frequently as needed, to determine the valuations of the Company’s Level 3 investments. Valuations determined by the Committee are required to be supported by market data, third-party pricing sources, industry accepted pricing models, counterparty prices, or other methods that the Committee deems to be appropriate.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company will periodically test its valuations of Level 3 investments through performing back testing of the sales of such investments by comparing the amounts realized against the most recent fair values reported, and if necessary, uses the findings to recalibrate its valuation procedures. On a quarterly basis, the Company engages the services of a nationally recognized third-party valuation firm to perform an independent valuation of the Company’s Level 3 investments. This valuation firm provides a range of values for selected investments, which is presented to the Valuation Committee to determine the value for each of the selected investments.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Investment Valuation </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We expect that most of our portfolio investments will take the form of securities that are not publicly traded. The fair value of loans, securities and other investments that are not publicly traded may not be readily determinable, and we will value these investments at fair value as determined in good faith by our board of directors, including reflecting significant events affecting the value of our investments. Most, if not all, of our investments (other than cash and cash equivalents) will be classified as Level 3 under Financial Accounting Standards Board Accounting Standards Codification “Fair Value Measurements and Disclosures”, or ASC 820. This means that our portfolio valuations will be based on unobservable inputs and our own assumptions about how market participants would price the asset or liability in question. We expect that inputs into the determination of fair value of our portfolio investments will require significant management judgment or estimation. Even if observable market data are available, such information may be the result of consensus pricing information or broker quotes, which include a disclaimer that the broker would not be held to such a price in an actual transaction. The non-binding nature of consensus pricing and/or quotes accompanied by disclaimers materially reduces the reliability of such information. We expect to retain the services of one or more independent service providers to review the valuation of these loans and securities. The types of factors that the board of directors may take into account in determining the fair value of our investments generally include, as appropriate, comparison to publicly traded securities including such factors as yield, maturity and measures of credit quality, the enterprise value of a portfolio company, the nature and realizable value of any collateral, the portfolio company’s ability to make payments and its earnings and discounted cash flow, the markets in which the portfolio company does business and other relevant factors. Because such valuations, and particularly valuations of private securities and private companies, are inherently uncertain, may fluctuate over short periods of time and may be based on estimates, our determinations of fair value may differ materially from the values that would have been used if a ready market for these loans and securities existed. Our net asset value could be adversely affected if our determinations regarding the fair value of our investments were materially higher than the values that we ultimately realize upon the disposal of such loans and securities.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We will adjust the valuation of our portfolio quarterly to reflect our board of directors’ determination of the fair value of each investment in our portfolio. Any changes in fair value are recorded in our Statements of Operations as net change in unrealized gain or loss on investments.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Debt Securities</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s portfolio consists primarily of first lien loans, second lien loans, and unsecured loans. Investments for which market quotations are readily available (“Level 2 Loans”) are generally valued using market quotations, which are generally obtained from an independent pricing service or broker-dealers. For other debt investments (“Level 3 Loans”), market quotations are not available and other techniques are used to determine fair value. The Company considers its Level 3 Loans to be performing if the borrower is not in default, the borrower is remitting payments in a timely manner, the loan is in covenant compliance or is otherwise not deemed to be impaired. In determining the fair value of the performing Level 3 Loans, the Board considers fluctuations in current interest rates, the trends in yields of debt instruments with similar credit ratings, financial condition of the borrower, economic conditions, success and prepayment fees, and other relevant factors, both qualitative and quantitative. In the event that a Level 3 Loan instrument is not performing, as defined above, the Board may evaluate the value of the collateral utilizing the same framework described above for a performing loan to determine the value of the Level 3 Loan instrument.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Equity Investments</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our equity investments, including common stock, membership interests, and warrants, are generally valued using a market approach and income approach. The income approach utilizes primarily the discount rate to value the investment whereas the primary inputs for the market approach are the earnings before interest, taxes, depreciation and amortization (“EBITDA”) multiple and revenue multiples. The Black-Scholes Option Pricing Model, a valuation technique that follows the income approach, is used to allocate the value of the equity to the investment. The pricing model takes into account the contract terms (including maturity) as well as multiple inputs, including time value, implied volatility, equity prices, risk free rates, and interest rates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Valuation of Other Financial Instruments</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The carrying amounts of the Company’s other, non-investment, financial instruments, consisting of cash, receivables, accounts payable, and accrued expenses, approximate fair value due to their short-term nature.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Cash, Cash Equivalents and Restricted Cash</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company deposits its cash in financial institutions and, at times, such balances may be in excess of the Federal Deposit Insurance Corporation insured limit; however, management does not believe it is exposed to any significant credit risk. Cash Equivalents are short-term, highly liquid investments that are readily convertible to known amounts of cash and present insignificant risk of changes in value. All of the Company’s cash equivalents are being held in a Money Market account.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table provides a reconciliation of cash and restricted cash reporting within the Statements of Assets and Liabilities that sum to the total of the same such amounts shown in the Statements of Cash Flows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2025</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2024</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: justify">Cash and Cash Equivalents</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">241,832</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,290,864</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Restricted Cash</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,000</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-align: left">Total Cash, Cash Equivalents and Restricted Cash</td><td> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">246,832</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">1,295,864</td><td style="text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of December 31, 2025 and December 31, 2024, restricted cash consisted of cash held for deposit with a law firm that represents the Company in an appeal on a matter incurred in the normal operating course of business.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>U.S. Treasury Bills</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">At the end of each fiscal quarter, we may take proactive steps to be in compliance with the RIC diversification requirements under Subchapter M of the Internal Revenue Code, which are dependent upon the composition of our total assets at quarter end. We may accomplish this in several ways, including purchasing U.S. Treasury Bills and closing out positions after quarter-end. As of December 31, 2025 and December 31, 2024, the Company did not purchase any U.S. Treasury Bills. The Company does not expect to meet the qualifications of a RIC nor anticipate buying U.S. Treasury Bills until such time as certain strategic alternatives are achieved.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Revenue Recognition</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Realized gains or losses on the sale of investments are calculated using the specific identification method. The Company measures realized gains or losses by the difference between the net proceeds from the repayment or sale and the amortized cost basis of the investment, without regard to unrealized appreciation or depreciation previously recognized, but considering unamortized upfront fees and prepayment penalties.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Interest income, adjusted for amortization of premium and accretion of discount, is recorded on an accrual basis. Origination, closing and/or commitment fees associated with senior and subordinated secured loans are accreted into interest income over the respective terms of the applicable loans. Upon the prepayment of a senior or subordinated secured loan, any prepayment penalties and unamortized loan origination, closing and commitment fees are recorded as interest income. Generally, when a payment default occurs on a loan in the portfolio, or if the Company otherwise believes that the borrower will not be able to make contractual interest payments, the Company may place the loan on non-accrual status and cease recognizing interest income on the loan until all principal and interest is current through payment, or until a restructuring occurs, and the interest income is deemed to be collectible. The Company may make exceptions to this policy if a loan has sufficient collateral value, is in the process of collection or is viewed to be able to pay all amounts due if the loan were to be collected on through an investment in or sale of the business, the sale of the assets of the business, or some portion or combination thereof.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dividend income is recorded on the ex-dividend date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Structuring fees, excess deal deposits, prepayment fees and similar fees are recognized as income as earned, usually when paid.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Other fee income from investment sources, can include loan fees, annual fees or monitoring fees from our portfolio investments and are included in other income from non-control/non-affiliate investments and other income from affiliate investments. Income from such sources for the years ended December 31, 2025, 2024 and 2023 was $13,953, $13,953 and $8,140, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other income from non-investment sources is generally comprised of interest income earned on cash held in a bank account. For the year ended December 31, 2024, $90,866 of the other income from non-investment sources resulted from the reversal of accrued legal fees from prior periods that were determined to no longer be payable.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Payment-in-Kind Interest (“PIK”)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have investments in our portfolio that contain a PIK interest provision. Any PIK interest is added to the principal balance of such investments and is recorded as income, if the portfolio company valuation indicates that such PIK interest is collectible. For the years ended December 31, 2025, 2024 and 2023, PIK interest was $0, $318,417, and $166,339, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Net Realized Gain and Loss</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net realized gain (loss) on investments is the difference between the proceeds received from the dispositions of portfolio investments and their amortized cost.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Net Change in Unrealized Gain or Loss</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net change in unrealized gain or loss will reflect the change in portfolio investment values during the reporting period, including any reversal of previously recorded unrealized appreciation or depreciation, when gains or losses are realized.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Legal Fees</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Legal fees invoiced to the Company for the years ended December 31, 2025, December 31, 2024 and December 31, 2023, were incurred in the normal operating course of business and are included in legal fees on the Statements of Operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Bad Debt Expense</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company recognizes bad debt expense to reflect estimated losses arising from the inability of borrowers to make required interest payments. Management evaluates the collectability of interest receivable on an ongoing basis. For the year ended December 31, 2025, the Company incurred $444,517 of bad debt expense related to the interest receivable that was deemed uncollectible from Rockfish Seafood Grill, Inc.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Federal and State Income Taxes</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company was taxed as a regular corporation (a “C corporation”) under subchapter C of the Internal Revenue Code of 1986, as amended (the “Code”), for its 2024 and 2023 taxable years. The Company uses the liability method of accounting for income taxes. Deferred tax assets and liabilities are recorded for tax loss carryforwards and temporary differences between the tax basis of assets and liabilities and their reported amounts in the financial statements, using statutory tax rates in effect for the year in which the temporary differences are expected to reverse. A valuation allowance is provided against deferred tax assets when it is more likely than not that some portion or all of the deferred tax assets will not be realized.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company did not meet the qualifications of a RIC for the 2024 and 2023 tax years and was taxed as a corporation under the Code. For the 2023 tax year, the Company used available net operating loss carryforwards to reduce taxable income. A portion of the net operating loss carryforwards could only be used to offset 80% of the taxable income, which resulted in a federal tax expense of $54,019 for the year ended December 31, 2023.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company did not meet the qualifications of a RIC for the 2025 tax year and will be taxed as a corporation under the Code. It may not be in the best interests of the Company’s stockholders to elect to be taxed as a RIC at the present time due to the net operating losses and capital loss carryforwards the Company currently has. Further, we do not expect to meet the qualifications of a RIC until such time as certain strategic alternatives are achieved. Management will make a determination that is in the best interests of the Company and its stockholders.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In order to qualify as a RIC, among other things, the Company is required to distribute to its stockholders on a timely basis at least 90% of investment company taxable income, as defined by the Code, for each year. So long as the Company achieves its status as a RIC, it generally will not pay corporate-level U.S. federal and state income taxes on any ordinary income or capital gains that it distributes at least annually to its stockholders as dividends. Rather, any tax liability related to income earned by the Company will represent obligations of the Company’s investors and will not be reflected in the financial statements of the Company. While the Company does not expect to meet the qualifications of a RIC until such time as certain strategic alternatives are achieved, it can still declare a dividend even though it is not required to do so.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company evaluates tax positions taken or expected to be taken while preparing its financial statements to determine whether the tax positions are “more-likely-than-not” of being sustained by the applicable tax authority. The Company recognizes the tax benefits of uncertain tax positions only where the position has met the “more-likely-than-not” threshold. The Company classifies penalties and interest associated with income taxes, if any, as income tax expense. Conclusions regarding tax positions are subject to review and may be adjusted at a later date based on factors including, but not limited to, ongoing analyses of tax laws, regulations and interpretations thereof.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Dividends and Distributions</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dividends and distributions to common stockholders are recorded on the ex-dividend date. The amount, if any, to be paid as a dividend is approved by our board of directors each quarter and is generally based upon our management’s estimate of our earnings for the quarter.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dividends and distributions to common stockholders are recorded on the ex-dividend date. The amount, if any, to be paid as a dividend is approved by our board of directors each quarter and is generally based upon our management’s estimate of our earnings for the quarter.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2025, 2024 and 2023, and through the date of issuance of this report, no dividends were declared or distributed to stockholders.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Per Share Information</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Basic and diluted earnings (loss) per common share is calculated using the weighted average number of common shares outstanding for the periods presented.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic earnings (loss) per share is computed by dividing earnings (loss) by the weighted average number of shares of common stock outstanding during the period. Diluted earnings (loss) per share is computed by dividing earnings (loss) per share by the weighted average number of shares outstanding, plus, any potentially dilutive shares outstanding during the period. For the years ended December 31, 2025, 2024 and 2023, basic and diluted earnings (loss) per share were the same, since there were no potentially dilutive securities outstanding.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Capital Accounts</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain capital accounts including undistributed net investment income, accumulated net realized gain or loss, accumulated net unrealized gain or loss, and paid-in capital in excess of par, are adjusted, at least annually, for permanent differences between book and tax. In addition, the character of income and gains to be distributed is determined in accordance with income tax regulations that may differ from U.S. GAAP.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Recent Accounting Pronouncements </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In March 2022, the FASB issued Accounting Standards Update (“ASU”) 2022-02, which is intended to address issues identified during the post-implementation review of ASU 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments”. The amendment, among other things, eliminates the accounting guidance for troubled debt restructurings by creditors in Subtopic 310-40, “Receivables - Troubled Debt Restructurings by Creditors”, while enhancing disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. The new guidance is effective for interim and annual periods beginning after December 15, 2022. The Company has evaluated and will continue to evaluate the impact of the adoption of ASU 2022-02 on its financial statements and disclosures. Presently, the adoption of ASU 2022-02 has no impact on the Company’s financial statements and disclosures.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In June 2022, the FASB issued ASU No. 2022-03, “Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions, which changed the fair value measurement disclosure requirements of ASC Topic 820, Fair Value Measurements and Disclosures.” The amendments clarify that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. The amendments also clarify that an entity cannot, as a separate unit of account, recognize and measure a contractual sale restriction. The new guidance is effective for fiscal years beginning after December 15, 2023, including interim periods therein. Early application is permitted. The Company has evaluated and will continue to evaluate the impact the adoption of this new accounting standard on its financial statements. Presently, the adoption of this new accounting standard has no impact on the Company’s financial statements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In November 2023, the FASB issued ASU No. 2023-07, “Segment Reporting (Topic 280) Improvements to Reportable Segment Disclosures.” An operating segment is a component of an entity that engages in business activities from which it may earn revenues and incur expenses, whose operating results are reviewed regularly by the chief operating decision-maker, and for which discrete financial information is available. The Company operates under one operating segment and reporting unit, investment management. The Company’s chief operating decision-maker is our interim <span style="-sec-ix-hidden: hidden-fact-60">chief executive officer</span>, who is responsible for determining our investment strategy, capital allocation, expense allocation, expense structure and significant transactions. Key metrics include, but are not limited to, net investment income (loss) after income tax expense (benefit) and net increase (decrease) in net assets resulting from operations that is reported on the Statements of Operations, fair value of investments as disclosed on the Schedule of Investments, as well as distributions made to the Company’s shareholders. The Company’s adoption of ASU No. 2023-07 impacted its financial statement disclosures, but did not impact the financial position or results of its operations. (See Note 11)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In December 2023, the FASB issued ASU No. 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures”, which intends to enhance transparency by providing more detailed tax disclosures to investors. ASU No. 2023-09 is effective for fiscal years beginning after December 15, 2024 and is to be adopted on a prospective basis with the option to apply retrospectively. The Company adopted ASU 2023-09 on the required effective date for the Company’s financial statements issued for annual reporting periods beginning on January 1, 2025. The Company concluded that the adoption of this guidance did not have any material impact on its financial statements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Basis of Presentation</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). In accordance with Regulation S-X under the Securities Act of 1933 and Securities Exchange Act of 1934, the Company does not consolidate portfolio company investments. The accounting records of the Company are maintained in U.S. dollars. As an investment company, as defined by the 1940 Act, the Company follows investment company accounting and reporting guidance of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 946 – Financial Services - Investment Companies, which is U.S. GAAP.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Use of Estimates </b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with U.S. GAAP requires our management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Changes in the economic environment, financial markets, creditworthiness of our portfolio companies and any other parameters used in determining these estimates could cause actual results to differ. It is likely that changes in these estimates will occur in the near term. The Company’s estimates are inherently subjective in nature and actual results could differ materially from such estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Portfolio Investment Classification</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company classifies its investments in accordance with the requirements of the 1940 Act. Under the 1940 Act, “Control Investments” are defined as investments in companies in which the Company owns more than 25% of the voting securities or maintains greater than 50% of the board representation. Under the 1940 Act, “Affiliated Investments” are defined as those non-control investments in companies in which the Company owns between 5% and 25% of the voting securities. Under the 1940 Act, “Non-affiliated Investments” are defined as investments that are neither Control Investments nor Affiliated Investments. As of December 31, 2025, the Company had control investments in Advantis Certified Staffing Solutions, Inc., PCC SBH Sub, Inc., Rockfish Holdings, LLC, and Rockfish Seafood Grill, Inc. as defined under the 1940 Act. As of December 31, 2024, the Company had control investments in Advantis Certified Staffing Solutions, Inc., PCC SBH Sub, Inc., Rockfish Holdings, LLC, and Rockfish Seafood Grill, Inc. as defined under the 1940 Act.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investments are recognized when we assume an obligation to acquire a financial instrument and assume the risks for gains or losses related to that instrument. Investments are derecognized when we assume an obligation to sell a financial instrument and forgo the risks for gains and losses related to that instrument. Specifically, we record all security transactions on a trade date basis. Investments in other non-security financial instruments, such as limited partnerships or private companies, are recorded on the basis of subscription date or redemption date, as applicable. Amounts for investments recognized or derecognized but not yet settled are reported as receivables for investments sold or payable for investments acquired, respectively, in the Statements of Assets and Liabilities.</span></p> 0.25 0.50 0.05 0.25 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Valuation of Investments</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In accordance with U.S. GAAP, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., the “exit price”) in an orderly transaction between market participants at the measurement date.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In determining fair value, our board of directors uses various valuation approaches. In accordance with U.S. GAAP, ASC 820 establishes a fair value hierarchy for inputs and is used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Observable inputs are those that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the board of directors. Unobservable inputs reflect our board of director’s assumptions about the inputs market participants would use in pricing the asset or liability developed based on the best information available in the circumstances.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">With respect to investments for which market quotations are not readily available, our board of directors undertakes a multi-step valuation process each quarter, as described below:</span></p><table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our quarterly valuation process begins with each portfolio company or investment being initially valued by an independent valuation firm, except for those investments where market quotations are readily available;</span></td></tr></table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: justify; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Preliminary valuation conclusions are then documented and discussed with our senior management, our investment advisor, and our auditors;</span></td></tr> </table><table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The valuation committee of our board of directors then reviews these preliminary valuations and approves them for recommendation to the board of directors; and</span></td></tr></table><table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The board of directors then discusses valuations and determines the fair value of each investment in our portfolio in good faith, based on the input of our investment advisor, the independent valuation firm and the valuation committee.</span></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">U.S. GAAP establishes a framework for measuring fair value that includes a hierarchy used to classify the inputs used in measuring fair value. The hierarchy prioritizes the inputs to valuation techniques used to measure fair value into three levels. The level in the fair value hierarchy within which the fair value measurement falls is determined based on the lowest level input that is significant to the fair value measurement. The levels of the fair value hierarchy are as follows:</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 1 — Valuations based on unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. Valuation adjustments and block discounts are not applied to Level 1 securities. Since valuations are based on quoted prices that are readily and regularly available in an active market, valuation of these securities does not entail a significant degree of judgment.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 2 — Valuations based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 3 — Valuations based on inputs that are unobservable and significant to the overall fair value measurement.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The availability of valuation techniques and observable inputs can vary from security to security and is affected by a wide variety of factors including, the type of security, whether the security is new and not yet established in the marketplace, and other characteristics particular to the transaction. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Those estimated values do not necessarily represent the amounts that may be ultimately realized due to the occurrence of future circumstances that cannot be reasonably determined. Because of the inherent uncertainty of valuation, those estimated values may be materially higher or lower than the values that would have been used had a ready market for the securities existed. Accordingly, the degree of judgment exercised by the board of directors in determining fair value is greatest for securities categorized in Level 3. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement in its entirety falls is determined based on the lowest level input that is significant to the fair value measurement. For the fair value measurements as of December 31, 2025, there were no changes in the valuation technique for the Company's investments from the prior quarter.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fair value is a market-based measure considered from the perspective of a market participant rather than an entity-specific measure. Therefore, even when market assumptions are not readily available, the Company’s own assumptions are set to reflect those that market participants would use in pricing the asset or liability at the measurement date. The Company uses prices and inputs that are current as of the measurement date, including periods of market dislocation. In periods of market dislocation, the observability of prices and inputs may be reduced for many securities. This condition could cause a security to be reclassified to a lower level within the fair value hierarchy.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Valuation Processes</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company establishes valuation processes and procedures to ensure that the valuation techniques for investments that are categorized within Level 3 of the fair value hierarchy are fair, consistent, and verifiable. The Company’s board of directors designates a Valuation Committee (the “Committee”) to oversee the entire valuation process of the Company’s Level 3 investments. The Committee is comprised of independent directors and reports to the Company’s board of directors. The Committee is responsible for developing the Company’s written valuation processes and procedures, conducting periodic reviews of the valuation policies, and evaluating the overall fairness and consistent application of the valuation policies.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Committee meets on a quarterly basis, or more frequently as needed, to determine the valuations of the Company’s Level 3 investments. Valuations determined by the Committee are required to be supported by market data, third-party pricing sources, industry accepted pricing models, counterparty prices, or other methods that the Committee deems to be appropriate.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company will periodically test its valuations of Level 3 investments through performing back testing of the sales of such investments by comparing the amounts realized against the most recent fair values reported, and if necessary, uses the findings to recalibrate its valuation procedures. On a quarterly basis, the Company engages the services of a nationally recognized third-party valuation firm to perform an independent valuation of the Company’s Level 3 investments. This valuation firm provides a range of values for selected investments, which is presented to the Valuation Committee to determine the value for each of the selected investments.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Investment Valuation </b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We expect that most of our portfolio investments will take the form of securities that are not publicly traded. The fair value of loans, securities and other investments that are not publicly traded may not be readily determinable, and we will value these investments at fair value as determined in good faith by our board of directors, including reflecting significant events affecting the value of our investments. Most, if not all, of our investments (other than cash and cash equivalents) will be classified as Level 3 under Financial Accounting Standards Board Accounting Standards Codification “Fair Value Measurements and Disclosures”, or ASC 820. This means that our portfolio valuations will be based on unobservable inputs and our own assumptions about how market participants would price the asset or liability in question. We expect that inputs into the determination of fair value of our portfolio investments will require significant management judgment or estimation. Even if observable market data are available, such information may be the result of consensus pricing information or broker quotes, which include a disclaimer that the broker would not be held to such a price in an actual transaction. The non-binding nature of consensus pricing and/or quotes accompanied by disclaimers materially reduces the reliability of such information. We expect to retain the services of one or more independent service providers to review the valuation of these loans and securities. The types of factors that the board of directors may take into account in determining the fair value of our investments generally include, as appropriate, comparison to publicly traded securities including such factors as yield, maturity and measures of credit quality, the enterprise value of a portfolio company, the nature and realizable value of any collateral, the portfolio company’s ability to make payments and its earnings and discounted cash flow, the markets in which the portfolio company does business and other relevant factors. Because such valuations, and particularly valuations of private securities and private companies, are inherently uncertain, may fluctuate over short periods of time and may be based on estimates, our determinations of fair value may differ materially from the values that would have been used if a ready market for these loans and securities existed. Our net asset value could be adversely affected if our determinations regarding the fair value of our investments were materially higher than the values that we ultimately realize upon the disposal of such loans and securities.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We will adjust the valuation of our portfolio quarterly to reflect our board of directors’ determination of the fair value of each investment in our portfolio. Any changes in fair value are recorded in our Statements of Operations as net change in unrealized gain or loss on investments.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Debt Securities</i></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s portfolio consists primarily of first lien loans, second lien loans, and unsecured loans. Investments for which market quotations are readily available (“Level 2 Loans”) are generally valued using market quotations, which are generally obtained from an independent pricing service or broker-dealers. For other debt investments (“Level 3 Loans”), market quotations are not available and other techniques are used to determine fair value. The Company considers its Level 3 Loans to be performing if the borrower is not in default, the borrower is remitting payments in a timely manner, the loan is in covenant compliance or is otherwise not deemed to be impaired. In determining the fair value of the performing Level 3 Loans, the Board considers fluctuations in current interest rates, the trends in yields of debt instruments with similar credit ratings, financial condition of the borrower, economic conditions, success and prepayment fees, and other relevant factors, both qualitative and quantitative. In the event that a Level 3 Loan instrument is not performing, as defined above, the Board may evaluate the value of the collateral utilizing the same framework described above for a performing loan to determine the value of the Level 3 Loan instrument.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Equity Investments</i></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our equity investments, including common stock, membership interests, and warrants, are generally valued using a market approach and income approach. The income approach utilizes primarily the discount rate to value the investment whereas the primary inputs for the market approach are the earnings before interest, taxes, depreciation and amortization (“EBITDA”) multiple and revenue multiples. The Black-Scholes Option Pricing Model, a valuation technique that follows the income approach, is used to allocate the value of the equity to the investment. The pricing model takes into account the contract terms (including maturity) as well as multiple inputs, including time value, implied volatility, equity prices, risk free rates, and interest rates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Valuation of Other Financial Instruments</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The carrying amounts of the Company’s other, non-investment, financial instruments, consisting of cash, receivables, accounts payable, and accrued expenses, approximate fair value due to their short-term nature.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Cash, Cash Equivalents and Restricted Cash</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company deposits its cash in financial institutions and, at times, such balances may be in excess of the Federal Deposit Insurance Corporation insured limit; however, management does not believe it is exposed to any significant credit risk. Cash Equivalents are short-term, highly liquid investments that are readily convertible to known amounts of cash and present insignificant risk of changes in value. All of the Company’s cash equivalents are being held in a Money Market account.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table provides a reconciliation of cash and restricted cash reporting within the Statements of Assets and Liabilities that sum to the total of the same such amounts shown in the Statements of Cash Flows:</span></p><table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2025</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2024</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: justify">Cash and Cash Equivalents</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">241,832</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,290,864</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Restricted Cash</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,000</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-align: left">Total Cash, Cash Equivalents and Restricted Cash</td><td> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">246,832</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">1,295,864</td><td style="text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of December 31, 2025 and December 31, 2024, restricted cash consisted of cash held for deposit with a law firm that represents the Company in an appeal on a matter incurred in the normal operating course of business.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table provides a reconciliation of cash and restricted cash reporting within the Statements of Assets and Liabilities that sum to the total of the same such amounts shown in the Statements of Cash Flows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2025</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2024</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: justify">Cash and Cash Equivalents</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">241,832</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,290,864</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Restricted Cash</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,000</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-align: left">Total Cash, Cash Equivalents and Restricted Cash</td><td> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">246,832</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">1,295,864</td><td style="text-align: left"> </td></tr> </table> 241832 1290864 5000 5000 246832 1295864 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>U.S. Treasury Bills</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">At the end of each fiscal quarter, we may take proactive steps to be in compliance with the RIC diversification requirements under Subchapter M of the Internal Revenue Code, which are dependent upon the composition of our total assets at quarter end. We may accomplish this in several ways, including purchasing U.S. Treasury Bills and closing out positions after quarter-end. As of December 31, 2025 and December 31, 2024, the Company did not purchase any U.S. Treasury Bills. The Company does not expect to meet the qualifications of a RIC nor anticipate buying U.S. Treasury Bills until such time as certain strategic alternatives are achieved.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Revenue Recognition</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Realized gains or losses on the sale of investments are calculated using the specific identification method. The Company measures realized gains or losses by the difference between the net proceeds from the repayment or sale and the amortized cost basis of the investment, without regard to unrealized appreciation or depreciation previously recognized, but considering unamortized upfront fees and prepayment penalties.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Interest income, adjusted for amortization of premium and accretion of discount, is recorded on an accrual basis. Origination, closing and/or commitment fees associated with senior and subordinated secured loans are accreted into interest income over the respective terms of the applicable loans. Upon the prepayment of a senior or subordinated secured loan, any prepayment penalties and unamortized loan origination, closing and commitment fees are recorded as interest income. Generally, when a payment default occurs on a loan in the portfolio, or if the Company otherwise believes that the borrower will not be able to make contractual interest payments, the Company may place the loan on non-accrual status and cease recognizing interest income on the loan until all principal and interest is current through payment, or until a restructuring occurs, and the interest income is deemed to be collectible. The Company may make exceptions to this policy if a loan has sufficient collateral value, is in the process of collection or is viewed to be able to pay all amounts due if the loan were to be collected on through an investment in or sale of the business, the sale of the assets of the business, or some portion or combination thereof.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dividend income is recorded on the ex-dividend date.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Structuring fees, excess deal deposits, prepayment fees and similar fees are recognized as income as earned, usually when paid.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Other fee income from investment sources, can include loan fees, annual fees or monitoring fees from our portfolio investments and are included in other income from non-control/non-affiliate investments and other income from affiliate investments. Income from such sources for the years ended December 31, 2025, 2024 and 2023 was $13,953, $13,953 and $8,140, respectively.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other income from non-investment sources is generally comprised of interest income earned on cash held in a bank account. For the year ended December 31, 2024, $90,866 of the other income from non-investment sources resulted from the reversal of accrued legal fees from prior periods that were determined to no longer be payable.</span></p> 13953 13953 8140 90866 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Payment-in-Kind Interest (“PIK”)</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have investments in our portfolio that contain a PIK interest provision. Any PIK interest is added to the principal balance of such investments and is recorded as income, if the portfolio company valuation indicates that such PIK interest is collectible. For the years ended December 31, 2025, 2024 and 2023, PIK interest was $0, $318,417, and $166,339, respectively.</p> 0 318417 166339 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Net Realized Gain and Loss</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net realized gain (loss) on investments is the difference between the proceeds received from the dispositions of portfolio investments and their amortized cost.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Net Change in Unrealized Gain or Loss</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net change in unrealized gain or loss will reflect the change in portfolio investment values during the reporting period, including any reversal of previously recorded unrealized appreciation or depreciation, when gains or losses are realized.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Legal Fees</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Legal fees invoiced to the Company for the years ended December 31, 2025, December 31, 2024 and December 31, 2023, were incurred in the normal operating course of business and are included in legal fees on the Statements of Operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Bad Debt Expense</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company recognizes bad debt expense to reflect estimated losses arising from the inability of borrowers to make required interest payments. Management evaluates the collectability of interest receivable on an ongoing basis. For the year ended December 31, 2025, the Company incurred $444,517 of bad debt expense related to the interest receivable that was deemed uncollectible from Rockfish Seafood Grill, Inc.</p> 444517 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Federal and State Income Taxes</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company was taxed as a regular corporation (a “C corporation”) under subchapter C of the Internal Revenue Code of 1986, as amended (the “Code”), for its 2024 and 2023 taxable years. The Company uses the liability method of accounting for income taxes. Deferred tax assets and liabilities are recorded for tax loss carryforwards and temporary differences between the tax basis of assets and liabilities and their reported amounts in the financial statements, using statutory tax rates in effect for the year in which the temporary differences are expected to reverse. A valuation allowance is provided against deferred tax assets when it is more likely than not that some portion or all of the deferred tax assets will not be realized.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company did not meet the qualifications of a RIC for the 2024 and 2023 tax years and was taxed as a corporation under the Code. For the 2023 tax year, the Company used available net operating loss carryforwards to reduce taxable income. A portion of the net operating loss carryforwards could only be used to offset 80% of the taxable income, which resulted in a federal tax expense of $54,019 for the year ended December 31, 2023.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company did not meet the qualifications of a RIC for the 2025 tax year and will be taxed as a corporation under the Code. It may not be in the best interests of the Company’s stockholders to elect to be taxed as a RIC at the present time due to the net operating losses and capital loss carryforwards the Company currently has. Further, we do not expect to meet the qualifications of a RIC until such time as certain strategic alternatives are achieved. Management will make a determination that is in the best interests of the Company and its stockholders.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In order to qualify as a RIC, among other things, the Company is required to distribute to its stockholders on a timely basis at least 90% of investment company taxable income, as defined by the Code, for each year. So long as the Company achieves its status as a RIC, it generally will not pay corporate-level U.S. federal and state income taxes on any ordinary income or capital gains that it distributes at least annually to its stockholders as dividends. Rather, any tax liability related to income earned by the Company will represent obligations of the Company’s investors and will not be reflected in the financial statements of the Company. While the Company does not expect to meet the qualifications of a RIC until such time as certain strategic alternatives are achieved, it can still declare a dividend even though it is not required to do so.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company evaluates tax positions taken or expected to be taken while preparing its financial statements to determine whether the tax positions are “more-likely-than-not” of being sustained by the applicable tax authority. The Company recognizes the tax benefits of uncertain tax positions only where the position has met the “more-likely-than-not” threshold. The Company classifies penalties and interest associated with income taxes, if any, as income tax expense. Conclusions regarding tax positions are subject to review and may be adjusted at a later date based on factors including, but not limited to, ongoing analyses of tax laws, regulations and interpretations thereof.</span></p> 0.80 54019 0.90 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Dividends and Distributions</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dividends and distributions to common stockholders are recorded on the ex-dividend date. The amount, if any, to be paid as a dividend is approved by our board of directors each quarter and is generally based upon our management’s estimate of our earnings for the quarter.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dividends and distributions to common stockholders are recorded on the ex-dividend date. The amount, if any, to be paid as a dividend is approved by our board of directors each quarter and is generally based upon our management’s estimate of our earnings for the quarter.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2025, 2024 and 2023, and through the date of issuance of this report, no dividends were declared or distributed to stockholders.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Per Share Information</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Basic and diluted earnings (loss) per common share is calculated using the weighted average number of common shares outstanding for the periods presented.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic earnings (loss) per share is computed by dividing earnings (loss) by the weighted average number of shares of common stock outstanding during the period. Diluted earnings (loss) per share is computed by dividing earnings (loss) per share by the weighted average number of shares outstanding, plus, any potentially dilutive shares outstanding during the period. For the years ended December 31, 2025, 2024 and 2023, basic and diluted earnings (loss) per share were the same, since there were no potentially dilutive securities outstanding.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Capital Accounts</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain capital accounts including undistributed net investment income, accumulated net realized gain or loss, accumulated net unrealized gain or loss, and paid-in capital in excess of par, are adjusted, at least annually, for permanent differences between book and tax. In addition, the character of income and gains to be distributed is determined in accordance with income tax regulations that may differ from U.S. GAAP.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Recent Accounting Pronouncements </b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In March 2022, the FASB issued Accounting Standards Update (“ASU”) 2022-02, which is intended to address issues identified during the post-implementation review of ASU 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments”. The amendment, among other things, eliminates the accounting guidance for troubled debt restructurings by creditors in Subtopic 310-40, “Receivables - Troubled Debt Restructurings by Creditors”, while enhancing disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. The new guidance is effective for interim and annual periods beginning after December 15, 2022. The Company has evaluated and will continue to evaluate the impact of the adoption of ASU 2022-02 on its financial statements and disclosures. Presently, the adoption of ASU 2022-02 has no impact on the Company’s financial statements and disclosures.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In June 2022, the FASB issued ASU No. 2022-03, “Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions, which changed the fair value measurement disclosure requirements of ASC Topic 820, Fair Value Measurements and Disclosures.” The amendments clarify that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. The amendments also clarify that an entity cannot, as a separate unit of account, recognize and measure a contractual sale restriction. The new guidance is effective for fiscal years beginning after December 15, 2023, including interim periods therein. Early application is permitted. The Company has evaluated and will continue to evaluate the impact the adoption of this new accounting standard on its financial statements. Presently, the adoption of this new accounting standard has no impact on the Company’s financial statements.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In November 2023, the FASB issued ASU No. 2023-07, “Segment Reporting (Topic 280) Improvements to Reportable Segment Disclosures.” An operating segment is a component of an entity that engages in business activities from which it may earn revenues and incur expenses, whose operating results are reviewed regularly by the chief operating decision-maker, and for which discrete financial information is available. The Company operates under one operating segment and reporting unit, investment management. The Company’s chief operating decision-maker is our interim <span style="-sec-ix-hidden: hidden-fact-60">chief executive officer</span>, who is responsible for determining our investment strategy, capital allocation, expense allocation, expense structure and significant transactions. Key metrics include, but are not limited to, net investment income (loss) after income tax expense (benefit) and net increase (decrease) in net assets resulting from operations that is reported on the Statements of Operations, fair value of investments as disclosed on the Schedule of Investments, as well as distributions made to the Company’s shareholders. The Company’s adoption of ASU No. 2023-07 impacted its financial statement disclosures, but did not impact the financial position or results of its operations. (See Note 11)</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In December 2023, the FASB issued ASU No. 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures”, which intends to enhance transparency by providing more detailed tax disclosures to investors. ASU No. 2023-09 is effective for fiscal years beginning after December 15, 2024 and is to be adopted on a prospective basis with the option to apply retrospectively. The Company adopted ASU 2023-09 on the required effective date for the Company’s financial statements issued for annual reporting periods beginning on January 1, 2025. The Company concluded that the adoption of this guidance did not have any material impact on its financial statements.</p> 1 1 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 3 – CONCENTRATION OF CREDIT RISK</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In the normal course of business, the Company maintains its cash balances in financial institutions, which at times may exceed federally insured limits. The Company is subject to credit risk to the extent any financial institution with which it conducts business is unable to fulfill contractual obligations on its behalf. Management monitors the financial condition of such financial institutions and does not anticipate any losses from these counterparties.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>NOTE 4 – NET DECREASE IN NET ASSETS RESULTING FROM OPERATIONS PER COMMON SHARE</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following information sets forth the computation of basic and diluted net decrease in net assets resulting from operations per common share for the years ended December 31, 2025, 2024, and 2023.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">For the Year Ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Per Share Data <sup>(1)</sup>:</b></span></td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 64%; text-align: left">Net decrease in net assets resulting from operations</td><td style="width: 1%; text-transform: uppercase"> </td> <td style="width: 1%; text-transform: uppercase; text-align: left">$</td><td style="width: 9%; text-transform: uppercase; text-align: right">(6,780,265</td><td style="width: 1%; text-transform: uppercase; text-align: left">)</td><td style="width: 1%; text-transform: uppercase"> </td> <td style="width: 1%; text-transform: uppercase; text-align: left">$</td><td style="width: 9%; text-transform: uppercase; text-align: right">(10,861,296</td><td style="width: 1%; text-transform: uppercase; text-align: left">)</td><td style="width: 1%; text-transform: uppercase"> </td> <td style="width: 1%; text-transform: uppercase; text-align: left">$</td><td style="width: 9%; text-transform: uppercase; text-align: right">(178,900</td><td style="width: 1%; text-transform: uppercase; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.125in">Weighted average shares outstanding for year</td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: right"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.25in">Basic</td><td style="text-transform: uppercase"> </td> <td style="text-transform: uppercase; text-align: left"> </td><td style="text-transform: uppercase; text-align: right">120,486,061</td><td style="text-transform: uppercase; text-align: left"> </td><td style="text-transform: uppercase"> </td> <td style="text-transform: uppercase; text-align: left"> </td><td style="text-transform: uppercase; text-align: right">120,486,061</td><td style="text-transform: uppercase; text-align: left"> </td><td style="text-transform: uppercase"> </td> <td style="text-transform: uppercase; text-align: left"> </td><td style="text-transform: uppercase; text-align: right">120,486,061</td><td style="text-transform: uppercase; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.25in">Diluted</td><td style="text-transform: uppercase"> </td> <td style="text-transform: uppercase; text-align: left"> </td><td style="text-transform: uppercase; text-align: right">120,486,061</td><td style="text-transform: uppercase; text-align: left"> </td><td style="text-transform: uppercase"> </td> <td style="text-transform: uppercase; text-align: left"> </td><td style="text-transform: uppercase; text-align: right">120,486,061</td><td style="text-transform: uppercase; text-align: left"> </td><td style="text-transform: uppercase"> </td> <td style="text-transform: uppercase; text-align: left"> </td><td style="text-transform: uppercase; text-align: right">120,486,061</td><td style="text-transform: uppercase; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Basic and diluted net decrease in net assets resulting from operations per common share</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: right"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.25in">Basic</td><td style="text-transform: uppercase"> </td> <td style="text-transform: uppercase; text-align: left">$</td><td style="text-transform: uppercase; text-align: right">(0.057</td><td style="text-transform: uppercase; text-align: left">)</td><td style="text-transform: uppercase"> </td> <td style="text-transform: uppercase; text-align: left">$</td><td style="text-transform: uppercase; text-align: right">(0.090</td><td style="text-transform: uppercase; text-align: left">)</td><td style="text-transform: uppercase"> </td> <td style="text-transform: uppercase; text-align: left">$</td><td style="text-transform: uppercase; text-align: right">(0.001</td><td style="text-transform: uppercase; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.25in">Diluted</td><td style="text-transform: uppercase"> </td> <td style="text-transform: uppercase; text-align: left">$</td><td style="text-transform: uppercase; text-align: right">(0.057</td><td style="text-transform: uppercase; text-align: left">)</td><td style="text-transform: uppercase"> </td> <td style="text-transform: uppercase; text-align: left">$</td><td style="text-transform: uppercase; text-align: right">(0.090</td><td style="text-transform: uppercase; text-align: left">)</td><td style="text-transform: uppercase"> </td> <td style="text-transform: uppercase; text-align: left">$</td><td style="text-transform: uppercase; text-align: right">(0.001</td><td style="text-transform: uppercase; text-align: left">)</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><sup> </sup></span></p> <table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><sup>(1)</sup></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Per share data based on weighted average shares outstanding.</span></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following information sets forth the computation of basic and diluted net decrease in net assets resulting from operations per common share for the years ended December 31, 2025, 2024, and 2023.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">For the Year Ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Per Share Data <sup>(1)</sup>:</b></span></td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 64%; text-align: left">Net decrease in net assets resulting from operations</td><td style="width: 1%; text-transform: uppercase"> </td> <td style="width: 1%; text-transform: uppercase; text-align: left">$</td><td style="width: 9%; text-transform: uppercase; text-align: right">(6,780,265</td><td style="width: 1%; text-transform: uppercase; text-align: left">)</td><td style="width: 1%; text-transform: uppercase"> </td> <td style="width: 1%; text-transform: uppercase; text-align: left">$</td><td style="width: 9%; text-transform: uppercase; text-align: right">(10,861,296</td><td style="width: 1%; text-transform: uppercase; text-align: left">)</td><td style="width: 1%; text-transform: uppercase"> </td> <td style="width: 1%; text-transform: uppercase; text-align: left">$</td><td style="width: 9%; text-transform: uppercase; text-align: right">(178,900</td><td style="width: 1%; text-transform: uppercase; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.125in">Weighted average shares outstanding for year</td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: right"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.25in">Basic</td><td style="text-transform: uppercase"> </td> <td style="text-transform: uppercase; text-align: left"> </td><td style="text-transform: uppercase; text-align: right">120,486,061</td><td style="text-transform: uppercase; text-align: left"> </td><td style="text-transform: uppercase"> </td> <td style="text-transform: uppercase; text-align: left"> </td><td style="text-transform: uppercase; text-align: right">120,486,061</td><td style="text-transform: uppercase; text-align: left"> </td><td style="text-transform: uppercase"> </td> <td style="text-transform: uppercase; text-align: left"> </td><td style="text-transform: uppercase; text-align: right">120,486,061</td><td style="text-transform: uppercase; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.25in">Diluted</td><td style="text-transform: uppercase"> </td> <td style="text-transform: uppercase; text-align: left"> </td><td style="text-transform: uppercase; text-align: right">120,486,061</td><td style="text-transform: uppercase; text-align: left"> </td><td style="text-transform: uppercase"> </td> <td style="text-transform: uppercase; text-align: left"> </td><td style="text-transform: uppercase; text-align: right">120,486,061</td><td style="text-transform: uppercase; text-align: left"> </td><td style="text-transform: uppercase"> </td> <td style="text-transform: uppercase; text-align: left"> </td><td style="text-transform: uppercase; text-align: right">120,486,061</td><td style="text-transform: uppercase; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Basic and diluted net decrease in net assets resulting from operations per common share</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: right"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.25in">Basic</td><td style="text-transform: uppercase"> </td> <td style="text-transform: uppercase; text-align: left">$</td><td style="text-transform: uppercase; text-align: right">(0.057</td><td style="text-transform: uppercase; text-align: left">)</td><td style="text-transform: uppercase"> </td> <td style="text-transform: uppercase; text-align: left">$</td><td style="text-transform: uppercase; text-align: right">(0.090</td><td style="text-transform: uppercase; text-align: left">)</td><td style="text-transform: uppercase"> </td> <td style="text-transform: uppercase; text-align: left">$</td><td style="text-transform: uppercase; text-align: right">(0.001</td><td style="text-transform: uppercase; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.25in">Diluted</td><td style="text-transform: uppercase"> </td> <td style="text-transform: uppercase; text-align: left">$</td><td style="text-transform: uppercase; text-align: right">(0.057</td><td style="text-transform: uppercase; text-align: left">)</td><td style="text-transform: uppercase"> </td> <td style="text-transform: uppercase; text-align: left">$</td><td style="text-transform: uppercase; text-align: right">(0.090</td><td style="text-transform: uppercase; text-align: left">)</td><td style="text-transform: uppercase"> </td> <td style="text-transform: uppercase; text-align: left">$</td><td style="text-transform: uppercase; text-align: right">(0.001</td><td style="text-transform: uppercase; text-align: left">)</td></tr> </table> -6780265 -10861296 -178900 120486061 120486061 120486061 120486061 120486061 120486061 -0.057 -0.09 -0.001 0.057 0.09 0.001 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 5 – FAIR VALUE OF INVESTMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s assets recorded at fair value have been categorized based upon a fair value hierarchy in accordance with ASC Topic 820 – Fair Value Measurements and Disclosures (“ASC 820”). See Note 2 for a discussion of the Company’s policies.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following tables present information about the Company’s assets measured at fair value as of December 31, 2025 and 2024:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="14" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of December 31, 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Portfolio Investments</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; width: 52%; text-align: left">First Lien Loans</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-61">    -</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-62">    -</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">7,589,357</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">7,589,357</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-align: left">Second Lien Loans</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-63">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-64">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,787,756</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,787,756</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; padding-bottom: 1.5pt">Equity</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-65">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-66">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">884,342</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">884,342</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt">Total Portfolio Investments</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-67">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-68">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">14,261,455</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">14,261,455</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2pt">Total Investments</td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-69">-</div></td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-70">-</div></td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">14,261,455</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">14,261,455</td><td style="padding-bottom: 2pt; text-align: left"> </td></tr> </table> <p style="margin: 0"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="14" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of December 31, 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Portfolio Investments</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; width: 52%; text-align: left">First Lien Loans</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-71">    -</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-72">    -</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">9,850,963</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">9,850,963</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-align: left">Second Lien Loans</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-73">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-74">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,987,797</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,987,797</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; padding-bottom: 1.5pt">Equity</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-75">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-76">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,379,019</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,379,019</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt">Total Portfolio Investments</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-77">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-78">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">19,217,779</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">19,217,779</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2pt">Total Investments</td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-79">-</div></td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-80">-</div></td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">19,217,779</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">19,217,779</td><td style="padding-bottom: 2pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the years ended December 31, 2025 and 2024, there were no transfers between Level 1, Level 2 or Level 3. During the year ended December 31, 2025, the Company advanced $55,000 under its loan agreement with PCC SBH Sub, Inc. During the year ended December 31, 2024, the Company advanced $80,000 under its loan agreement with PCC SBH Sub, Inc.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table presents additional information about Level 3 assets measured at fair value. Both observable and unobservable inputs may be used to determine the fair value of positions that the Company has classified within the Level 3 category. As a result, the unrealized gains and losses for assets within the Level 3 category may include changes in fair value that were attributable to both observable (e.g., changes in market interest rates) and unobservable (e.g., changes in unobservable long-dated volatilities) inputs.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Changes in Level 3 assets measured at fair value for the year ended December 31, 2025 are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"><b>First Lien<br/> Loans</b></td><td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Second Lien <br/> Loans</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Unsecured<br/> Loans</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Equity</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 40%; text-align: left">Fair value at beginning of year</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">9,850,963</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">7,987,797</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-81">      -</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,379,019</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">19,217,779</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.125in">Purchases of investments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">55,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-82">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-83">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-84">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">55,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt">Change in unrealized loss on investments</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2,316,606</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2,200,041</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-85">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(494,677</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(5,011,324</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 2pt">Fair value at end of year</td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">7,589,357</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">5,787,756</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-86">-</div></td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">884,342</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">14,261,455</td><td style="padding-bottom: 2pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 2pt">Change in unrealized loss on Level 3 investments still held as of December 31, 2025</td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(2,316,606</td><td style="padding-bottom: 2pt; text-align: left">)</td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(2,200,041</td><td style="padding-bottom: 2pt; text-align: left">)</td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-87">-</div></td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(494,677</td><td style="padding-bottom: 2pt; text-align: left">)</td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(5,011,324</td><td style="padding-bottom: 2pt; text-align: left">)</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Changes in Level 3 assets measured at fair value for the year ended December 31, 2024 are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">First Lien Loans</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Second Lien Loans</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Unsecured Loans</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Equity</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Fair value at beginning of year</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">12,301,440</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">11,652,480</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-88">       -</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">5,781,033</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">29,734,953</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Purchases of investments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">80,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-89">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-90">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-91">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">80,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Sales or repayment of investments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(192,932</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-92">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-93">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-94">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(192,932</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Payment-in-kind interest</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-95">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">318,417</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-96">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-97">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">318,417</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Change in unrealized loss on investments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,014,333</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,983,100</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-98">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(175,491</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,172,924</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Realized loss on investments</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,323,212</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-99">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-100">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(4,226,523</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(5,549,735</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Fair value at end of year</td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">9,850,963</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">7,987,797</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-101">-</div></td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">1,379,019</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">19,217,779</td><td style="padding-bottom: 2pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -10pt; padding-left: 10pt; text-align: left">Change in unrealized gain (loss) on Level 3 investments still held as of December 31, 2024</td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(2,357,078</td><td style="padding-bottom: 2pt; text-align: left">)</td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(3,983,100</td><td style="padding-bottom: 2pt; text-align: left">)</td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-102">-</div></td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(4,402,014</td><td style="padding-bottom: 2pt; text-align: left">)</td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(10,742,192</td><td style="padding-bottom: 2pt; text-align: left">)</td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table provides quantitative information regarding Level 3 fair value measurements as of December 31, 2025:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid"><b>Description</b></td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Fair Value</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Valuation Technique <sup>(1)</sup></b></span></td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; border-bottom: Black 1.5pt solid"><b>Unobservable Inputs</b></td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Range (Average <sup>(2)</sup>) </b></span></td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: center"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 16%; font-weight: bold">First Lien Loans</td><td style="width: 1%; text-transform: uppercase"> </td> <td style="width: 1%; text-transform: uppercase; text-align: left">$</td><td style="width: 9%; text-transform: uppercase; text-align: right">7,454,357</td><td style="width: 1%; text-transform: uppercase; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 22%; text-align: center">Enterprise Value Coverage</td><td style="width: 1%"> </td> <td style="width: 25%; text-align: center">EV / STORE LEVEL EBITDAR</td><td style="width: 1%"> </td> <td style="width: 22%; text-align: center">4.00x-4.50x (4.25x)</td></tr> <tr style="vertical-align: bottom; "> <td> </td><td style="text-transform: uppercase"> </td> <td style="text-transform: uppercase; text-align: left"> </td><td style="text-transform: uppercase; text-align: right"> </td><td style="text-transform: uppercase; text-align: left"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center">Location Value</td><td> </td> <td style="text-align: center">$1,050,000-$1,250,000 ($1,150,000)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td style="text-transform: uppercase"> </td> <td style="text-transform: uppercase; text-align: left"> </td><td style="text-transform: uppercase; text-align: right">67,500</td><td style="text-transform: uppercase; text-align: left"> </td><td> </td> <td style="text-align: center">Appraisal Value Coverage</td><td> </td> <td style="text-align: center"> Cost Approach</td><td> </td> <td style="text-align: center">$838,000-$1,077,000 <br/>($958,000)</td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center">Sales Comparison Approach</td><td> </td> <td style="text-align: center">$928,000-$1,187,000 ($1,058,000) <br/></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt"> </td><td style="text-transform: uppercase; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-transform: uppercase; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-transform: uppercase; text-align: right">67,500</td><td style="padding-bottom: 1.5pt; text-transform: uppercase; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt">Broker Estimates</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt"> Broker Estimate</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt">$972,000-$1,211,000 <br/>($1,092,000)</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 10pt; font-style: italic; padding-bottom: 1.5pt">Total</td><td style="text-transform: uppercase; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-transform: uppercase; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-transform: uppercase; text-align: right">7,589,357</td><td style="padding-bottom: 1.5pt; text-transform: uppercase; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold">Second Lien Loans</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,232,961</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">Enterprise Value Coverage</td><td> </td> <td style="text-align: center">EV / LTM Revenue</td><td> </td> <td style="text-align: center">0.27x-0.32x (0.29x)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center">EV / PF Revenue</td><td> </td> <td style="text-align: center">1.20x-1.30x (1.25x)</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,554,795</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt">Net Orderly Liquidation Value</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt">Total Asset Value Recovery Rate</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt">15%-44% (29%)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; font-style: italic; padding-bottom: 1.5pt">Total</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,787,756</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 1.5pt">Unsecured Loans</td><td style="text-transform: uppercase; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-transform: uppercase; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-transform: uppercase; text-align: right"><div style="-sec-ix-hidden: hidden-fact-103">-</div></td><td style="padding-bottom: 1.5pt; text-transform: uppercase; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt">Enterprise Value Coverage</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt">EV / LTM Revenue</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt">0.27x-0.32x (0.29x)</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 10pt; font-style: italic; padding-bottom: 1.5pt">Total</td><td style="text-transform: uppercase; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-transform: uppercase; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-transform: uppercase; text-align: right"><div style="-sec-ix-hidden: hidden-fact-104">-</div></td><td style="padding-bottom: 1.5pt; text-transform: uppercase; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold">Equity</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-105">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">Enterprise Value Coverage</td><td> </td> <td style="text-align: center">EV / LTM Revenue</td><td> </td> <td style="text-align: center">0.27x-0.32x (0.29x)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center">EV / PF Revenue</td><td> </td> <td style="text-align: center">1.20x-1.30x (1.25x)</td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center">EV / STORE LEVEL EBITDAR <br/>Location Value</td><td> </td> <td style="text-align: center">4.00x-4.50x (4.25x) <br/>$1,050,000-$1,250,000 ($1,150,000)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-106">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">Net Orderly Liquidation Value</td><td> </td> <td style="text-align: center">Total Asset Value Recovery Rate</td><td> </td> <td style="text-align: center">15%-44% (29%)</td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">442,171</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">Appraisal Value Coverage <br/></td><td> </td> <td style="text-align: center">Cost Approach <br/></td><td> </td> <td style="text-align: center">$838,000-$1,077,000 ($958,000)</td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center">Sales Comparison Approach</td><td> </td> <td style="text-align: center">$928,000-$1,187,000 ($1,058,000)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">442,171</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt">Broker Estimates</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt">Broker Estimates</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt">$972,000-$1,211,000 <br/>(1,092,000)</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 10pt; font-style: italic; padding-bottom: 1.5pt">Total</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">884,342</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -10pt; padding-left: 10pt; font-weight: bold; padding-bottom: 2pt">Total Level 3 Investments</td><td style="text-transform: uppercase; padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-transform: uppercase; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-transform: uppercase; text-align: right">14,261,455</td><td style="padding-bottom: 2pt; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; padding-bottom: 2pt"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: center; padding-bottom: 2pt"> </td><td style="padding-bottom: 2pt"> </td> <td style="text-align: center; padding-bottom: 2pt"> </td><td style="padding-bottom: 2pt"> </td> <td style="text-align: center; padding-bottom: 2pt"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">There were no changes in the valuation technique for the Company's investments from the prior quarter.</span></td></tr></table> <p style="margin-top: 0; margin-bottom: 0"> </p> <table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The average represents the arithmetic average of the unobservable inputs and is not weighted by the relative fair value.</span></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company had no other remaining Level 3 investments. As a result, there were no unobservable inputs that have been internally developed by the Company in determining the fair values of these investments as of December 31, 2025.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table provides quantitative information regarding Level 3 fair value measurements as of December 31, 2024:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid"><b>Description</b></td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Fair Value</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Valuation Technique <sup>(1)</sup></b></span></td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; border-bottom: Black 1.5pt solid"><b>Unobservable Inputs</b></td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Range (Average <sup>(2)</sup>) </b></span></td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: center"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 16%; font-weight: bold">First Lien Loans</td><td style="width: 1%; text-transform: uppercase"> </td> <td style="width: 1%; text-transform: uppercase; text-align: left">$</td><td style="width: 9%; text-transform: uppercase; text-align: right">9,770,963</td><td style="width: 1%; text-transform: uppercase; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 22%; text-align: center">Enterprise Value Coverage</td><td style="width: 1%"> </td> <td style="width: 25%; text-align: center">EV / STORE LEVEL EBITDAR</td><td style="width: 1%"> </td> <td style="width: 22%; text-align: center">4.75x-5.25x(5.00x)</td></tr> <tr style="vertical-align: bottom; "> <td> </td><td style="text-transform: uppercase"> </td> <td style="text-transform: uppercase; text-align: left"> </td><td style="text-transform: uppercase; text-align: right"> </td><td style="text-transform: uppercase; text-align: left"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center">Location Value</td><td> </td> <td style="text-align: center">$1,300,000-$1,500,000 ($1,400,000)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td style="text-transform: uppercase"> </td> <td style="text-transform: uppercase; text-align: left"> </td><td style="text-transform: uppercase; text-align: right">80,000</td><td style="text-transform: uppercase; text-align: left"> </td><td> </td> <td style="text-align: center">Appraisal Value Coverage</td><td> </td> <td style="text-align: center"> Cost Approach</td><td> </td> <td style="text-align: center">$1,323,000-$1,617,000 <br/>($1,470,000)</td></tr> <tr style="vertical-align: bottom; "> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt">Sales Comparison Approach</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt">$1,395,000-$1,705,000 ($1,550,000) <br/></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; font-style: italic">Total</td><td style="text-transform: uppercase; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-transform: uppercase; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-transform: uppercase; text-align: right">9,850,963</td><td style="padding-bottom: 1.5pt; text-transform: uppercase; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Second Lien Loans</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,874,360</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">Enterprise Value Coverage</td><td> </td> <td style="text-align: center">EV / LTM Revenue</td><td> </td> <td style="text-align: center">0.37x-0.42x (0.40)</td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center">EV / PF Revenue</td><td> </td> <td style="text-align: center">1.05x-1.15x (1.10x)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,113,437</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt">Net Orderly Liquidation Value</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt">Total Asset Value Recovery Rate</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt">54%-86% (70%)</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 10pt; font-style: italic">Total</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">7,987,797</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold">Unsecured Loans</td><td style="text-transform: uppercase; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-transform: uppercase; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-transform: uppercase; text-align: right"><div style="-sec-ix-hidden: hidden-fact-107">-</div></td><td style="padding-bottom: 1.5pt; text-transform: uppercase; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt">Enterprise Value Coverage</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt">EV / LTM Revenue</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt">0.37x-0.42x (0.40x)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; font-style: italic">Total</td><td style="text-transform: uppercase; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-transform: uppercase; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-transform: uppercase; text-align: right"><div style="-sec-ix-hidden: hidden-fact-108">-</div></td><td style="padding-bottom: 1.5pt; text-transform: uppercase; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Equity</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-109">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">Enterprise Value Coverage</td><td> </td> <td style="text-align: center">EV / LTM Revenue</td><td> </td> <td style="text-align: center">0.37x-0.42x (0.40x)</td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center">EV / PF Revenue</td><td> </td> <td style="text-align: center">1.05x-1.15x (1.10x)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center">EV / Store level EBITDAR <br/>Location Value</td><td> </td> <td style="text-align: center">4.75x-5.25x (5.00x) <br/>$1,300,000-$1,500,000 ($1,400,000)</td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-110">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">Net Orderly Liquidation Value</td><td> </td> <td style="text-align: center">Total Asset Value Recovery Rate</td><td> </td> <td style="text-align: center">54%-86% (70%)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,379,019</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">Appraisal Value Coverage <br/></td><td> </td> <td style="text-align: center">Cost Approach <br/></td><td> </td> <td style="text-align: center">$1,323,000-$1,617,000 ($1,470,000)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt">Sales Comparison Approach</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt">$1,395,000-$1,705,000 ($1,550,000)</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 10pt; font-style: italic">Total</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,379,019</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Total Level 3 Investments</td><td style="text-transform: uppercase; padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-transform: uppercase; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-transform: uppercase; text-align: right">19,217,779</td><td style="padding-bottom: 2pt; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; padding-bottom: 2pt"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: center; padding-bottom: 2pt"> </td><td style="padding-bottom: 2pt"> </td> <td style="text-align: center; padding-bottom: 2pt"> </td><td style="padding-bottom: 2pt"> </td> <td style="text-align: center; padding-bottom: 2pt"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">There were no changes in the valuation technique for the Company's investments from the prior quarter.</span></td></tr></table> <p style="margin-top: 0; margin-bottom: 0"> </p> <table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The average represents the arithmetic average of the unobservable inputs and is not weighted by the relative fair value.</span></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2025 and 2024, respectively, the Company used a market approach to value certain equity investments as the Company felt this approach better reflected the fair value of these investments.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company considers all relevant information that can reasonably be obtained when determining the fair value of Level 3 investments. Due to any given portfolio company’s information rights, changes in capital structure, recent events, transactions, or liquidity events, the type and availability of unobservable inputs may change. Increases (decreases) in revenue multiples, earnings before interest and taxes (“EBIT”) multiples, time to expiration, and stock price/strike price would result in higher (lower) fair values all else equal. Decreases (increases) in discount rates, volatility, and annual risk rates, would result in higher (lower) fair values all else equal. The market approach utilizes market value (revenue and EBIT) multiples of publicly traded comparable companies and available precedent sales transactions of comparable companies. The Company carefully considers numerous factors when selecting the appropriate companies whose multiples are used to value its portfolio companies. These factors include, but are not limited to, the type of organization, similarity to the business being valued, relevant risk factors, as well as size, profitability and growth expectations. In general, precedent transactions include recent rounds of financing, recent purchases made by the Company, and tender offers. Refer to “Note 2—Significant Accounting Policies” for more detail.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The primary significant unobservable input used in the fair value measurement of the Company’s debt securities (first lien loans, second lien loans and unsecured loans), when using an income approach, is the discount rate. Significant increases (decreases) in the discount rate in isolation would result in a significantly lower (higher) fair value measurement. In determining the discount rate, for the income (discounted cash flow) or yield approach, the Company considers current market yields and multiples, portfolio company performance, leverage levels and credit quality, among other factors in its analysis. Changes in one or more of these factors can have a similar directional change on other factors in determining the appropriate discount rate to use in the income approach.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The primary significant unobservable inputs used in the fair value measurement of the Company’s equity investments, when using a market approach, are the EBITDA multiple and revenue multiple, which is used to determine the Enterprise Value. Significant increases (decreases) in the Enterprise Value in isolation would result in a significantly higher (lower) fair value measurement. To determine the Enterprise Value for the market approach, the Company considers current market trading and/or transaction multiples, portfolio company performance (financial ratios) relative to public and private peer companies and leverage levels, among other factors. Changes in one or more of these factors can have a similar directional change on other factors in determining the appropriate multiple to use in the market approach.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The primary unobservable inputs used in the fair value measurement of the Company’s equity investments, when using an option pricing model to allocate the equity value to the investment, are the discount rate for lack of marketability and volatility. Significant increases (decreases) in the discount rate in isolation would result in a significantly lower (higher) fair value measurement. Significant increases (decreases) in the volatility in isolation would result in a significantly higher (lower) fair value measurement. Changes in one or more factors can have a similar directional change on other factors in determining the appropriate discount rate or volatility to use in the valuation of equity using an option pricing model.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following tables present information about the Company’s assets measured at fair value as of December 31, 2025 and 2024:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="14" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of December 31, 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Portfolio Investments</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; width: 52%; text-align: left">First Lien Loans</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-61">    -</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-62">    -</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">7,589,357</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">7,589,357</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-align: left">Second Lien Loans</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-63">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-64">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,787,756</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,787,756</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; padding-bottom: 1.5pt">Equity</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-65">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-66">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">884,342</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">884,342</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt">Total Portfolio Investments</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-67">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-68">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">14,261,455</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">14,261,455</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2pt">Total Investments</td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-69">-</div></td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-70">-</div></td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">14,261,455</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">14,261,455</td><td style="padding-bottom: 2pt; text-align: left"> </td></tr> </table> <p style="margin: 0"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="14" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of December 31, 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Portfolio Investments</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; width: 52%; text-align: left">First Lien Loans</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-71">    -</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-72">    -</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">9,850,963</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">9,850,963</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-align: left">Second Lien Loans</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-73">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-74">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,987,797</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,987,797</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; padding-bottom: 1.5pt">Equity</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-75">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-76">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,379,019</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,379,019</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt">Total Portfolio Investments</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-77">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-78">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">19,217,779</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">19,217,779</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2pt">Total Investments</td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-79">-</div></td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-80">-</div></td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">19,217,779</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">19,217,779</td><td style="padding-bottom: 2pt; text-align: left"> </td></tr> </table> 7589357 7589357 5787756 5787756 884342 884342 14261455 14261455 14261455 14261455 9850963 9850963 7987797 7987797 1379019 1379019 19217779 19217779 19217779 19217779 55000 80000 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Changes in Level 3 assets measured at fair value for the year ended December 31, 2025 are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"><b>First Lien<br/> Loans</b></td><td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Second Lien <br/> Loans</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Unsecured<br/> Loans</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Equity</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 40%; text-align: left">Fair value at beginning of year</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">9,850,963</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">7,987,797</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-81">      -</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,379,019</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">19,217,779</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.125in">Purchases of investments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">55,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-82">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-83">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-84">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">55,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt">Change in unrealized loss on investments</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2,316,606</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2,200,041</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-85">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(494,677</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(5,011,324</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 2pt">Fair value at end of year</td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">7,589,357</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">5,787,756</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-86">-</div></td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">884,342</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">14,261,455</td><td style="padding-bottom: 2pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 2pt">Change in unrealized loss on Level 3 investments still held as of December 31, 2025</td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(2,316,606</td><td style="padding-bottom: 2pt; text-align: left">)</td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(2,200,041</td><td style="padding-bottom: 2pt; text-align: left">)</td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-87">-</div></td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(494,677</td><td style="padding-bottom: 2pt; text-align: left">)</td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(5,011,324</td><td style="padding-bottom: 2pt; text-align: left">)</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Changes in Level 3 assets measured at fair value for the year ended December 31, 2024 are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">First Lien Loans</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Second Lien Loans</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Unsecured Loans</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Equity</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Fair value at beginning of year</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">12,301,440</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">11,652,480</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-88">       -</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">5,781,033</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">29,734,953</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Purchases of investments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">80,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-89">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-90">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-91">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">80,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Sales or repayment of investments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(192,932</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-92">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-93">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-94">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(192,932</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Payment-in-kind interest</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-95">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">318,417</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-96">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-97">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">318,417</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Change in unrealized loss on investments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,014,333</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,983,100</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-98">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(175,491</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,172,924</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Realized loss on investments</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,323,212</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-99">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-100">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(4,226,523</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(5,549,735</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Fair value at end of year</td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">9,850,963</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">7,987,797</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-101">-</div></td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">1,379,019</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">19,217,779</td><td style="padding-bottom: 2pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -10pt; padding-left: 10pt; text-align: left">Change in unrealized gain (loss) on Level 3 investments still held as of December 31, 2024</td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(2,357,078</td><td style="padding-bottom: 2pt; text-align: left">)</td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(3,983,100</td><td style="padding-bottom: 2pt; text-align: left">)</td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-102">-</div></td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(4,402,014</td><td style="padding-bottom: 2pt; text-align: left">)</td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(10,742,192</td><td style="padding-bottom: 2pt; text-align: left">)</td></tr> </table> 9850963 7987797 1379019 19217779 55000 55000 -2316606 -2200041 -494677 -5011324 7589357 5787756 884342 14261455 -2316606 -2200041 -494677 -5011324 12301440 11652480 5781033 29734953 80000 80000 -192932 -192932 318417 318417 -1014333 -3983100 -175491 -5172924 -1323212 -4226523 -5549735 9850963 7987797 1379019 19217779 -2357078 -3983100 -4402014 -10742192 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table provides quantitative information regarding Level 3 fair value measurements as of December 31, 2025:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid"><b>Description</b></td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Fair Value</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Valuation Technique <sup>(1)</sup></b></span></td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; border-bottom: Black 1.5pt solid"><b>Unobservable Inputs</b></td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Range (Average <sup>(2)</sup>) </b></span></td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: center"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 16%; font-weight: bold">First Lien Loans</td><td style="width: 1%; text-transform: uppercase"> </td> <td style="width: 1%; text-transform: uppercase; text-align: left">$</td><td style="width: 9%; text-transform: uppercase; text-align: right">7,454,357</td><td style="width: 1%; text-transform: uppercase; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 22%; text-align: center">Enterprise Value Coverage</td><td style="width: 1%"> </td> <td style="width: 25%; text-align: center">EV / STORE LEVEL EBITDAR</td><td style="width: 1%"> </td> <td style="width: 22%; text-align: center">4.00x-4.50x (4.25x)</td></tr> <tr style="vertical-align: bottom; "> <td> </td><td style="text-transform: uppercase"> </td> <td style="text-transform: uppercase; text-align: left"> </td><td style="text-transform: uppercase; text-align: right"> </td><td style="text-transform: uppercase; text-align: left"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center">Location Value</td><td> </td> <td style="text-align: center">$1,050,000-$1,250,000 ($1,150,000)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td style="text-transform: uppercase"> </td> <td style="text-transform: uppercase; text-align: left"> </td><td style="text-transform: uppercase; text-align: right">67,500</td><td style="text-transform: uppercase; text-align: left"> </td><td> </td> <td style="text-align: center">Appraisal Value Coverage</td><td> </td> <td style="text-align: center"> Cost Approach</td><td> </td> <td style="text-align: center">$838,000-$1,077,000 <br/>($958,000)</td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center">Sales Comparison Approach</td><td> </td> <td style="text-align: center">$928,000-$1,187,000 ($1,058,000) <br/></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt"> </td><td style="text-transform: uppercase; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-transform: uppercase; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-transform: uppercase; text-align: right">67,500</td><td style="padding-bottom: 1.5pt; text-transform: uppercase; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt">Broker Estimates</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt"> Broker Estimate</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt">$972,000-$1,211,000 <br/>($1,092,000)</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 10pt; font-style: italic; padding-bottom: 1.5pt">Total</td><td style="text-transform: uppercase; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-transform: uppercase; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-transform: uppercase; text-align: right">7,589,357</td><td style="padding-bottom: 1.5pt; text-transform: uppercase; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold">Second Lien Loans</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,232,961</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">Enterprise Value Coverage</td><td> </td> <td style="text-align: center">EV / LTM Revenue</td><td> </td> <td style="text-align: center">0.27x-0.32x (0.29x)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center">EV / PF Revenue</td><td> </td> <td style="text-align: center">1.20x-1.30x (1.25x)</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,554,795</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt">Net Orderly Liquidation Value</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt">Total Asset Value Recovery Rate</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt">15%-44% (29%)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; font-style: italic; padding-bottom: 1.5pt">Total</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,787,756</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 1.5pt">Unsecured Loans</td><td style="text-transform: uppercase; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-transform: uppercase; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-transform: uppercase; text-align: right"><div style="-sec-ix-hidden: hidden-fact-103">-</div></td><td style="padding-bottom: 1.5pt; text-transform: uppercase; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt">Enterprise Value Coverage</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt">EV / LTM Revenue</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt">0.27x-0.32x (0.29x)</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 10pt; font-style: italic; padding-bottom: 1.5pt">Total</td><td style="text-transform: uppercase; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-transform: uppercase; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-transform: uppercase; text-align: right"><div style="-sec-ix-hidden: hidden-fact-104">-</div></td><td style="padding-bottom: 1.5pt; text-transform: uppercase; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold">Equity</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-105">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">Enterprise Value Coverage</td><td> </td> <td style="text-align: center">EV / LTM Revenue</td><td> </td> <td style="text-align: center">0.27x-0.32x (0.29x)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center">EV / PF Revenue</td><td> </td> <td style="text-align: center">1.20x-1.30x (1.25x)</td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center">EV / STORE LEVEL EBITDAR <br/>Location Value</td><td> </td> <td style="text-align: center">4.00x-4.50x (4.25x) <br/>$1,050,000-$1,250,000 ($1,150,000)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-106">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">Net Orderly Liquidation Value</td><td> </td> <td style="text-align: center">Total Asset Value Recovery Rate</td><td> </td> <td style="text-align: center">15%-44% (29%)</td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">442,171</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">Appraisal Value Coverage <br/></td><td> </td> <td style="text-align: center">Cost Approach <br/></td><td> </td> <td style="text-align: center">$838,000-$1,077,000 ($958,000)</td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center">Sales Comparison Approach</td><td> </td> <td style="text-align: center">$928,000-$1,187,000 ($1,058,000)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">442,171</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt">Broker Estimates</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt">Broker Estimates</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt">$972,000-$1,211,000 <br/>(1,092,000)</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 10pt; font-style: italic; padding-bottom: 1.5pt">Total</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">884,342</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -10pt; padding-left: 10pt; font-weight: bold; padding-bottom: 2pt">Total Level 3 Investments</td><td style="text-transform: uppercase; padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-transform: uppercase; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-transform: uppercase; text-align: right">14,261,455</td><td style="padding-bottom: 2pt; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; padding-bottom: 2pt"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: center; padding-bottom: 2pt"> </td><td style="padding-bottom: 2pt"> </td> <td style="text-align: center; padding-bottom: 2pt"> </td><td style="padding-bottom: 2pt"> </td> <td style="text-align: center; padding-bottom: 2pt"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table provides quantitative information regarding Level 3 fair value measurements as of December 31, 2024:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid"><b>Description</b></td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Fair Value</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Valuation Technique <sup>(1)</sup></b></span></td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; border-bottom: Black 1.5pt solid"><b>Unobservable Inputs</b></td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Range (Average <sup>(2)</sup>) </b></span></td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: center"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 16%; font-weight: bold">First Lien Loans</td><td style="width: 1%; text-transform: uppercase"> </td> <td style="width: 1%; text-transform: uppercase; text-align: left">$</td><td style="width: 9%; text-transform: uppercase; text-align: right">9,770,963</td><td style="width: 1%; text-transform: uppercase; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 22%; text-align: center">Enterprise Value Coverage</td><td style="width: 1%"> </td> <td style="width: 25%; text-align: center">EV / STORE LEVEL EBITDAR</td><td style="width: 1%"> </td> <td style="width: 22%; text-align: center">4.75x-5.25x(5.00x)</td></tr> <tr style="vertical-align: bottom; "> <td> </td><td style="text-transform: uppercase"> </td> <td style="text-transform: uppercase; text-align: left"> </td><td style="text-transform: uppercase; text-align: right"> </td><td style="text-transform: uppercase; text-align: left"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center">Location Value</td><td> </td> <td style="text-align: center">$1,300,000-$1,500,000 ($1,400,000)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td style="text-transform: uppercase"> </td> <td style="text-transform: uppercase; text-align: left"> </td><td style="text-transform: uppercase; text-align: right">80,000</td><td style="text-transform: uppercase; text-align: left"> </td><td> </td> <td style="text-align: center">Appraisal Value Coverage</td><td> </td> <td style="text-align: center"> Cost Approach</td><td> </td> <td style="text-align: center">$1,323,000-$1,617,000 <br/>($1,470,000)</td></tr> <tr style="vertical-align: bottom; "> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt">Sales Comparison Approach</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt">$1,395,000-$1,705,000 ($1,550,000) <br/></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; font-style: italic">Total</td><td style="text-transform: uppercase; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-transform: uppercase; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-transform: uppercase; text-align: right">9,850,963</td><td style="padding-bottom: 1.5pt; text-transform: uppercase; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Second Lien Loans</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,874,360</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">Enterprise Value Coverage</td><td> </td> <td style="text-align: center">EV / LTM Revenue</td><td> </td> <td style="text-align: center">0.37x-0.42x (0.40)</td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center">EV / PF Revenue</td><td> </td> <td style="text-align: center">1.05x-1.15x (1.10x)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,113,437</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt">Net Orderly Liquidation Value</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt">Total Asset Value Recovery Rate</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt">54%-86% (70%)</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 10pt; font-style: italic">Total</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">7,987,797</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold">Unsecured Loans</td><td style="text-transform: uppercase; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-transform: uppercase; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-transform: uppercase; text-align: right"><div style="-sec-ix-hidden: hidden-fact-107">-</div></td><td style="padding-bottom: 1.5pt; text-transform: uppercase; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt">Enterprise Value Coverage</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt">EV / LTM Revenue</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt">0.37x-0.42x (0.40x)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; font-style: italic">Total</td><td style="text-transform: uppercase; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-transform: uppercase; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-transform: uppercase; text-align: right"><div style="-sec-ix-hidden: hidden-fact-108">-</div></td><td style="padding-bottom: 1.5pt; text-transform: uppercase; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Equity</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-109">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">Enterprise Value Coverage</td><td> </td> <td style="text-align: center">EV / LTM Revenue</td><td> </td> <td style="text-align: center">0.37x-0.42x (0.40x)</td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center">EV / PF Revenue</td><td> </td> <td style="text-align: center">1.05x-1.15x (1.10x)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center">EV / Store level EBITDAR <br/>Location Value</td><td> </td> <td style="text-align: center">4.75x-5.25x (5.00x) <br/>$1,300,000-$1,500,000 ($1,400,000)</td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-110">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">Net Orderly Liquidation Value</td><td> </td> <td style="text-align: center">Total Asset Value Recovery Rate</td><td> </td> <td style="text-align: center">54%-86% (70%)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,379,019</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center">Appraisal Value Coverage <br/></td><td> </td> <td style="text-align: center">Cost Approach <br/></td><td> </td> <td style="text-align: center">$1,323,000-$1,617,000 ($1,470,000)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt">Sales Comparison Approach</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt">$1,395,000-$1,705,000 ($1,550,000)</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 10pt; font-style: italic">Total</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,379,019</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Total Level 3 Investments</td><td style="text-transform: uppercase; padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-transform: uppercase; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-transform: uppercase; text-align: right">19,217,779</td><td style="padding-bottom: 2pt; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; padding-bottom: 2pt"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: center; padding-bottom: 2pt"> </td><td style="padding-bottom: 2pt"> </td> <td style="text-align: center; padding-bottom: 2pt"> </td><td style="padding-bottom: 2pt"> </td> <td style="text-align: center; padding-bottom: 2pt"> </td></tr> </table> 7454357 Enterprise Value Coverage EV / STORE LEVEL EBITDAR 4.00x-4.50x (4.25x) Location Value $1,050,000-$1,250,000 ($1,150,000) 67500 Appraisal Value Coverage Cost Approach $838,000-$1,077,000 ($958,000) Sales Comparison Approach $928,000-$1,187,000 ($1,058,000) 67500 Broker Estimates Broker Estimate $972,000-$1,211,000 ($1,092,000) 7589357 4232961 Enterprise Value Coverage EV / LTM Revenue 0.27x-0.32x (0.29x) EV / PF Revenue 1.20x-1.30x (1.25x) 1554795 Net Orderly Liquidation Value Total Asset Value Recovery Rate 15%-44% (29%) 5787756 Enterprise Value Coverage EV / LTM Revenue 0.27x-0.32x (0.29x) Enterprise Value Coverage EV / LTM Revenue 0.27x-0.32x (0.29x) EV / PF Revenue 1.20x-1.30x (1.25x) EV / STORE LEVEL EBITDAR Location Value 4.00x-4.50x (4.25x) $1,050,000-$1,250,000 ($1,150,000) Net Orderly Liquidation Value Total Asset Value Recovery Rate 15%-44% (29%) 442171 Appraisal Value Coverage Cost Approach $838,000-$1,077,000 ($958,000) Sales Comparison Approach $928,000-$1,187,000 ($1,058,000) 442171 Broker Estimates Broker Estimates $972,000-$1,211,000 (1,092,000) 884342 14261455 9770963 Enterprise Value Coverage EV / STORE LEVEL EBITDAR 4.75x-5.25x(5.00x) Location Value $1,300,000-$1,500,000 ($1,400,000) 80000 Appraisal Value Coverage Cost Approach $1,323,000-$1,617,000 ($1,470,000) Sales Comparison Approach $1,395,000-$1,705,000 ($1,550,000) 9850963 4874360 Enterprise Value Coverage EV / LTM Revenue 0.37x-0.42x (0.40) EV / PF Revenue 1.05x-1.15x (1.10x) 3113437 Net Orderly Liquidation Value Total Asset Value Recovery Rate 54%-86% (70%) 7987797 Enterprise Value Coverage EV / LTM Revenue 0.37x-0.42x (0.40x) Enterprise Value Coverage EV / LTM Revenue 0.37x-0.42x (0.40x) EV / PF Revenue 1.05x-1.15x (1.10x) EV / Store level EBITDAR Location Value 4.75x-5.25x (5.00x) $1,300,000-$1,500,000 ($1,400,000) Net Orderly Liquidation Value Total Asset Value Recovery Rate 54%-86% (70%) 1379019 Appraisal Value Coverage Cost Approach $1,323,000-$1,617,000 ($1,470,000) Sales Comparison Approach $1,395,000-$1,705,000 ($1,550,000) 1379019 19217779 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 6 – INCOME TAX </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company is currently taxable as a C corporation and subject to federal and state corporate income taxes. The Company recorded a provision as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: justify">Current expense/(benefit)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">10,100</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">(1,850</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">64,993</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Deferred expense</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-111">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-112">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-113">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Total expense/(benefit)</td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">10,100</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(1,850</td><td style="padding-bottom: 2pt; text-align: left">)</td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">64,993</td><td style="padding-bottom: 2pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The components of deferred tax assets and liabilities at December 31, 2025, 2024 and 2023 were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: justify; border-bottom: Black 1.5pt solid">Deferred tax assets:</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: justify">Net operating loss carryforward</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">976,271</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">676,170</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">641,502</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Net capital loss carryforwards</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,032,603</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,683,864</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">651,514</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Other</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-114">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-115">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,476</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-bottom: 1.5pt">Basis differences in investments</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,835,059</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,949,538</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">730,130</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Total gross deferred tax assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,843,933</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,309,572</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,026,622</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-bottom: 1.5pt">Less: Valuation allowance</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(4,843,933</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(4,309,572</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2,026,622</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 4pt">Net deferred tax assets</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-116">-</div></td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-117">-</div></td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-118">-</div></td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of December 31, 2025 and 2024, the total amount of federal net operating loss carryforwards was approximately $4,648,908 and $2,889,156, respectively. The federal net operating loss carryforwards in the amount of $4,648,909 will not expire, but can only be used to offset 80% of taxable income. As of December 31, 2025 and 2024, the total amount of federal capital loss carryforwards was approximately $4,917,156 and $8,018,402, respectively. The federal capital loss carryforwards in the amount of $4,915,956 and $1,200 will expire in 2029 and 2028, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The recognition of a valuation allowance for deferred taxes requires management to make estimates and judgments about the Company’s future profitability which are inherently uncertain. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of all of the deferred tax assets will not be realized. Management believes that the likelihood of realizing the benefits of these deductible differences at December 31, 2025, does not meet the “more likely than not threshold” as defined in ASC 740 – “Income Taxes” and thus management has recorded a full valuation allowance.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For federal and state purposes, a portion of the Company’s net operating loss carryforwards and basis differences may be subject to limitations on annual utilization in case of a change in ownership, as defined by federal and state law. The amount of such limitations, if any, has not been determined. Accordingly, the amount of such tax attributes available to offset future profits may be significantly less than the actual amounts of the tax attributes.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The difference between the tax provision (benefit) at the statutory federal income tax rate and the tax provision (benefit) before the adoption of ASU 2023-09 was as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Federal statutory tax rate</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">21.00</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">21.00</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Federal payable true up</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-119">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-120">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">State tax, net of federal benefit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.01</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(7.25</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Permanent items</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-121">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-122">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Capital loss carryforward expiration</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-123">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-124">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Deferred true-up</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.03</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(30.33</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Rate change</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-125">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-126">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Increase (decrease) in valuation allowance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(21.02</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(40.48</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Other</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-127">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-128">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 4pt">Effective tax rate</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">0.02</td><td style="padding-bottom: 4pt; text-align: left">%</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">(57.06</td><td style="padding-bottom: 4pt; text-align: left">)%</td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The difference between the tax provision (benefit) at the <span style="-sec-ix-hidden: hidden-fact-141">statutory federal income tax rate</span> and the tax provision (benefit) after the adoption of ASU 2023-09 was as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: justify">Tax at U.S Statutory Rate</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">(1,421,735</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">21.00</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">State and Local Income Taxes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">360</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.01</td><td style="text-align: left">)%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Foreign Tax Effects</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-129">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-130">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Effect of Cross-Border Tax Laws</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-131">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-132">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Tax Credits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-133">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-134">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Changes in Valuation Allowance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,431,475</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(21.14</td><td style="text-align: left">)%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Nontaxable and Nondeductible Items</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-135">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-136">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Changes in Unrecognized Tax Benefits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-137">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-138">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt">Other Adjustments</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-139">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-140">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-bottom: 4pt">Effective Tax Rate</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">10,100</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">(0.15</td><td style="padding-bottom: 2.5pt; text-align: left">)%</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company did not meet the qualifications of a RIC for the 2025 tax year and will be taxed as a corporation under Subchapter C of the Code. It may not be in the best interests of the Company’s stockholders to elect to be taxed as a RIC at the present time due to the net operating losses and capital loss carryforwards the Company currently has. Management will make a determination that is in the best interests of the Company and its stockholders. As a RIC, the Company generally will not pay corporate-level U.S. federal income taxes on any net ordinary income or capital gains that the Company distributes to its stockholders as dividends and claims dividends paid deductions to compute taxable income. A RIC will not be eligible to utilize net operating losses. However, the net operating losses may become available should the Company disqualify as a RIC and become a C corporation in the future. In the event that the Company qualifies as a RIC, the Company itself will no longer be required to recognize deferred tax assets or liabilities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In addition to meeting other requirements, the Company must generally distribute at least 90% of its investment company taxable income to qualify for the special treatment accorded to a RIC and, if the Company qualifies, to maintain its RIC status. As part of maintaining RIC status, undistributed taxable income (subject to a 4% excise tax) pertaining to a given fiscal year may be distributed up to 12 months subsequent to the end of that fiscal year, provided such dividends are declared prior to the later of (1) the fifteenth day of the ninth month following the close of that fiscal year or (2) the extended due date for filing the federal income tax return for that fiscal year.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company did not have any unrecognized tax benefits as of the period presented herein. The Company identified its major tax jurisdiction as U.S. federal. For the years ended December 31, 2025, and 2024, no income tax expenses or related liabilities for uncertain tax positions were recognized for the Company’s open tax years from inception through 2025. The Company is not aware of any tax positions for which it is reasonably possible that the total amount of unrecognized tax benefits will change significantly in the next 12 months. The Company files tax returns as prescribed by the tax laws of the jurisdictions in which it operates. In general, the federal and state income tax returns remain open to examination by taxing authorities for tax years beginning in 2021 to present.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On July 2, 2025, H.R.1 commonly referred to as the One Big Beautiful Bill Act (the “Act”), was enacted, which includes a broad range of tax reform provisions. There has not been, and nor do we anticipate, a material impact on our financial statements as a result of the enactment of this Act.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In December 2023, the FASB issued ASU No. 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures”, which intends to enhance transparency by providing more detailed tax disclosures to investors. ASU No. 2023-09 is effective for fiscal years beginning after December 15, 2024 and is to be adopted on a prospective basis with the option to apply retrospectively. The Company adopted ASU 2023-09 on the required effective date for the Company’s financial statements issued for annual reporting periods beginning on January 1, 2025. The Company concluded that the adoption of this guidance did not have any material impact on its financial statements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the year ended December 31, 2025, the Company paid $456 to the State of Massachusetts as a minimum tax on the Company’s taxable income.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company is currently taxable as a C corporation and subject to federal and state corporate income taxes. The Company recorded a provision as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: justify">Current expense/(benefit)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">10,100</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">(1,850</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">64,993</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Deferred expense</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-111">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-112">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-113">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Total expense/(benefit)</td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">10,100</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(1,850</td><td style="padding-bottom: 2pt; text-align: left">)</td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">64,993</td><td style="padding-bottom: 2pt; text-align: left"> </td></tr> </table> 10100 -1850 64993 10100 -1850 64993 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The components of deferred tax assets and liabilities at December 31, 2025, 2024 and 2023 were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: justify; border-bottom: Black 1.5pt solid">Deferred tax assets:</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: justify">Net operating loss carryforward</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">976,271</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">676,170</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">641,502</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Net capital loss carryforwards</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,032,603</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,683,864</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">651,514</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Other</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-114">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-115">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,476</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-bottom: 1.5pt">Basis differences in investments</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,835,059</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,949,538</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">730,130</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Total gross deferred tax assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,843,933</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,309,572</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,026,622</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-bottom: 1.5pt">Less: Valuation allowance</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(4,843,933</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(4,309,572</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2,026,622</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 4pt">Net deferred tax assets</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-116">-</div></td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-117">-</div></td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-118">-</div></td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> 976271 676170 641502 1032603 1683864 651514 3476 2835059 1949538 730130 4843933 4309572 2026622 4843933 4309572 2026622 4648908 2889156 4648909 0.80 4917156 8018402 4915956 1200 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The difference between the tax provision (benefit) at the statutory federal income tax rate and the tax provision (benefit) before the adoption of ASU 2023-09 was as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Federal statutory tax rate</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">21.00</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">21.00</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Federal payable true up</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-119">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-120">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">State tax, net of federal benefit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.01</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(7.25</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Permanent items</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-121">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-122">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Capital loss carryforward expiration</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-123">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-124">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Deferred true-up</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.03</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(30.33</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Rate change</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-125">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-126">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Increase (decrease) in valuation allowance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(21.02</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(40.48</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Other</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-127">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-128">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 4pt">Effective tax rate</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">0.02</td><td style="padding-bottom: 4pt; text-align: left">%</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">(57.06</td><td style="padding-bottom: 4pt; text-align: left">)%</td></tr> </table> 0.21 0.21 0.0001 -0.0725 0.0003 -0.3033 -0.2102 -0.4048 0.0002 -0.5706 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The difference between the tax provision (benefit) at the <span style="-sec-ix-hidden: hidden-fact-141">statutory federal income tax rate</span> and the tax provision (benefit) after the adoption of ASU 2023-09 was as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: justify">Tax at U.S Statutory Rate</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">(1,421,735</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">21.00</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">State and Local Income Taxes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">360</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.01</td><td style="text-align: left">)%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Foreign Tax Effects</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-129">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-130">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Effect of Cross-Border Tax Laws</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-131">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-132">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Tax Credits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-133">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-134">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Changes in Valuation Allowance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,431,475</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(21.14</td><td style="text-align: left">)%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Nontaxable and Nondeductible Items</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-135">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-136">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Changes in Unrecognized Tax Benefits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-137">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-138">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt">Other Adjustments</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-139">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-140">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-bottom: 4pt">Effective Tax Rate</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">10,100</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">(0.15</td><td style="padding-bottom: 2.5pt; text-align: left">)%</td></tr> </table> -1421735 0.21 360 -0.0001 1431475 -0.2114 10100 -0.0015 0.90 0.04 456 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 7 – RELATED PARTY TRANSACTIONS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>House Hanover Investment Advisory Agreement</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">House Hanover has served as the Company’s investment advisor since January 1, 2018 pursuant to the Interim Investment Advisory Agreement (until May 31, 2018) and the House Hanover Investment Advisory Agreement (since May 31, 2018). House Hanover is registered as an investment advisor under the 1940 Act.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Advisory Services</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">House Hanover is registered as an investment adviser under the 1940 Act and serves as the Company’s investment advisor pursuant to the House Hanover Investment Advisory Agreement in accordance with the 1940 Act. House Hanover is owned by and an affiliate of Mr. Mark DiSalvo, the Company’s Interim President, Interim Chief Executive Officer, and a director of the Company. </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subject to supervision by the Company’s Board, House Hanover oversees the Company’s day-to-day operations and provides the Company with investment advisory services. Under the terms of the House Hanover Investment Advisory Agreement, House Hanover, among other things: (i) determines the composition and allocation of the portfolio of the Company, the nature and timing of the changes therein and the manner of implementing such changes; (ii) identifies, evaluates and negotiates the structure of the investments made by the Company; (iii) executes, closes, services and monitors the Company’s investments; (iv) determines the securities and other assets that the Company shall purchase, retain, or sell; (v) performs due diligence on prospective portfolio companies; (vi) provides the Company with such other investment advisory, research and related services as the Company may, from time to time, reasonably require for the investment of its funds; and (vii) if directed by the Board, assists in the execution and closing of the sale of the Company’s assets or a sale of the equity of the Company in one or more transactions. House Hanover’s services under the House Hanover Investment Advisory Agreement may not be exclusive and it is free to furnish similar services to other entities so long as its services to the Company are not impaired. At the request of the Company, House Hanover, upon any transition of the Company’s investment advisory relationship to another investment advisor or upon any internalization, shall provide reasonable transition assistance to the Company and any successor investment advisor.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Management Fee</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant to the House Hanover Investment Advisory Agreement, the Company pays House Hanover a base management fee for investment advisory and management services. The cost of the base management fee is ultimately borne by the Company’s stockholders. The House Hanover Investment Advisory Agreement does not contain an incentive fee component.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The base management fee is calculated at an annual rate of 1.00% of the Company’s gross assets, including assets purchased with borrowed funds or other forms of leverage and excluding cash and cash equivalents net of all indebtedness of the Company for borrowed money and other liabilities of the Company. The base management fee is payable quarterly in arrears, and determined as set forth in the preceding sentence at the end of the two most recently completed calendar quarters. The Board may retroactively adjust the valuation of the Company’s assets and the resulting calculation of the base management fee in the event the Company or any of its assets are sold or transferred to an independent third party or the Company or House Hanover receives an audit report or other independent third party valuation of the Company. To the extent that any such adjustment increases or decreases the base management fee of any prior period, the Company will be obligated to pay the amount of increase to House Hanover or House Hanover will be obligated to refund the decreased amount, as applicable.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Management fees under the House Hanover Investment Advisory Agreement for the years ended December 31, 2025, 2024 and 2023, were $184,133, $257,384 and $317,546, respectively. As of December 31, 2025 and 2024, management fees of $135,373 and $55,286, respectively were payable to House Hanover.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Incentive Fee</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company is not obligated to pay House Hanover an incentive fee. Incentive fees are a typical component of investment advisory agreements with business development companies.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Payment of Expenses</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">House Hanover bears all compensation expenses (including health insurance, pension benefits, payroll taxes and other compensation related matters) of its employees and bears the costs of any salaries or directors’ fees of any officers or directors of the Company who are affiliated persons (as defined in the 1940 Act) of House Hanover. However, House Hanover, subject to approval by the Board of the Company, is entitled to reimbursement for the portion of any compensation expense and the costs of any salaries of any such employees to the extent attributable to services performed by such employees for the Company. During the term of the House Hanover Investment Advisory Agreement, House Hanover will also bear all of its costs and expenses for office space rental, office equipment, utilities and other non-compensation related overhead allocable to performance of its obligations under the House Hanover Investment Advisory Agreement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Except as provided in the preceding paragraph the Company reimburses House Hanover all direct and indirect costs and expenses incurred by it during the term of the House Hanover Investment Advisory Agreement for: (i) due diligence of potential investments of the Company, (ii) monitoring performance of the Company’s investments, (iii) serving as officers of the Company, (iv) serving as directors and officers of portfolio companies of the Company, (v) providing managerial assistance to portfolio companies of the Company, and (vi) enforcing the Company’s rights in respect of its investments and disposing of its investments; provided, however, that, any third party expenses incurred by House Hanover in excess of $50,000 in the aggregate in any calendar quarter will require advance approval by the Board of the Company.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In addition to the foregoing, the Company will also be responsible for the payment of all of the Company’s other expenses, including the payment of the following fees and expenses:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">organizational and offering expenses; </span></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">expenses incurred in valuing the Company’s assets and computing its net asset value per share (including the cost and expenses of any independent valuation firm); </span></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">subject to the guidelines approved by the Board of Directors, expenses incurred by House Hanover that are payable to third parties, including agents, consultants or other advisors, in monitoring financial and legal affairs for the Company and in monitoring the Company’s investments and performing due diligence on the Company’s prospective portfolio companies or otherwise related to, or associated with, evaluating and making investments; </span></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">interest payable on debt, if any, incurred to finance the Company’s investments and expenses related to unsuccessful portfolio acquisition efforts; </span></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">offerings of the Company’s common stock and other securities; </span></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">administration fees; </span></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">transfer agent and custody fees and expenses; </span></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">U.S. federal and state registration fees of the Company (but not House Hanover); </span></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">all costs of registration and listing the Company’s shares on any securities exchange; </span></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">U.S. federal, state and local taxes; </span></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">independent directors’ fees and expenses; </span></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">costs of preparing and filing reports or other documents required of the Company (but not House Hanover) by the SEC or other regulators; </span></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">costs of any reports, proxy statements or other notices to stockholders, including printing costs; </span></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the costs associated with individual or group stockholders; </span></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the Company’s allocable portion of the fidelity bond, directors and officers/errors and omissions liability insurance, and any other insurance premiums; </span></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">direct costs and expenses of administration and operation of the Company, including printing, mailing, long distance telephone, copying, secretarial and other staff, independent auditors and outside legal costs; and</span></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">all other non-investment advisory expenses incurred by the Company regarding administering the Company’s business.</span></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Duration and Termination</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unless terminated earlier as described below, the House Hanover Investment Advisory Agreement will continue in effect for a period of one (1) year from its effective date. It will remain in effect from year to year thereafter if approved annually by the Company’s Board or by the affirmative vote of the holders of a majority of the Company’s outstanding voting securities, and, in either case, if also approved by a majority of Company’s directors who are neither parties to the House Hanover Investment Advisory Agreement nor “interested persons” (as defined under the 1940 Act) of any such party. The House Hanover Investment Advisory Agreement was last annually renewed by the Board and by a majority of the members of the Board who are not parties to the House Hanover Investment Advisory Agreement or “interested persons” (as such term is defined in the 1940 Act) of any such party, in accordance with the requirements of the 1940 Act and the House Hanover Investment Advisory Agreement on May 12, 2025.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The House Hanover Investment Advisory Agreement may be terminated at any time, without the payment of any penalty, (i) upon written notice, effective on the date set forth in such notice, by the vote of a majority of the outstanding voting securities of the Company or by the vote of the Company’s directors, or (ii) upon 60 days’ written notice, by House Hanover. The House Hanover Investment Advisory Agreement automatically terminates in the event of its “assignment,” as defined in the 1940 Act.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Indemnification</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The House Hanover Investment Advisory Agreement provides that, absent willful misfeasance, bad faith or negligence in the performance of their duties, or by reason of the material breach or reckless disregard of their duties and obligations under the House Hanover Investment Advisory Agreement, House Hanover and its officers, managers, employees and members are entitled to indemnification from the Company for any damages, liabilities, costs and expenses (including reasonable attorneys’ fees and amounts reasonably paid in settlement) arising from the rendering of House Hanover’s services under the House Hanover Investment Advisory Agreement or otherwise as the Company’s investment advisor. The amounts payable for indemnification will be calculated net of payments recovered by the indemnified party under any insurance policy with respect to such losses.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At all times during the term of the House Hanover Investment Advisory Agreement and for one year thereafter, House Hanover is obligated to maintain directors and officers/errors and omission liability insurance in an amount and with a provider reasonably acceptable to the Board of the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Administration Services and Service Agreement</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">House Hanover is entitled to reimbursement of expenses under the House Hanover Investment Advisory Agreement for administrative services performed for the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On January 1, 2018, Princeton Capital Corporation directly entered into a service agreement with SS&amp;C Technologies Holdings, Inc. (the “Sub-Administrator”) to provide certain administrative services to the Company. In exchange for providing services, the Company pays the Sub-Administrator an asset-based fee with a $168,597 annual minimum as adjusted for any reimbursement of expenses. This annual minimum was amended in the service agreement on April 20, 2019 and has increased annually by the US Consumer Price Index - All Urban Consumers per the service agreement on July 1st of each year beginning on July 1, 2020. This asset-based fee will vary depending upon our gross assets, as adjusted, as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 49%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Gross Assets </b></span></td> <td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; width: 2%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 49%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fee</b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">first $150 million of gross assets</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">20 basis points (0.20%)</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; "> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">next $150 million of gross assets</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">15 basis points (0.15%)</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">next $200 million of gross assets</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10 basis points (0.10%)</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; "> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">in excess of $500 million of gross assets</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5 basis points (0.05%)</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Administration fees were $259,500, $259,500 and $259,500 for the years ended December 31, 2025, 2024 and 2023, respectively, and sub-administration fees were $172,268, $164,377 and $155,592 for the years ended December 31, 2025, 2024 and 2023, respectively, as shown on the Statements of Operations under administration fees. As of December 31, 2025 and 2024, there were $194,625 and $64,875, respectively, of administration fees owed to House Hanover, as shown on the Statements of Assets and Liabilities under Due to affiliates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Managerial Assistance</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As a BDC, we offer, and must provide upon request, managerial assistance to our portfolio companies. This assistance could involve monitoring the operations of our portfolio companies, participating in board of directors and management meetings, consulting with and advising officers of portfolio companies and providing other organizational and financial guidance. As of December 31, 2022, none of the portfolio companies had accepted our offer for such services, except for Advantis Certified Staffing Solutions, Inc. (“Advantis”). On May 1, 2022, Advantis requested one of its directors, Gregory J. Cannella who also serves as our Chief Financial Officer, become the Executive Chair of Advantis to provide executive authority and leadership in the absence of their former president, who resigned in March 2022. Mr. Cannella has agreed to take this position and in return will be compensated by Advantis in the amount of $5,000 per month. The title and benefits of this position can be removed at any time by the board of directors of Advantis.</span></p> 0.01 184133 257384 317546 135373 55286 50000 168597 This asset-based fee will vary depending upon our gross assets, as adjusted, as follows:<table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 49%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Gross Assets </b></span></td> <td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; width: 2%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 49%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fee</b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">first $150 million of gross assets</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">20 basis points (0.20%)</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; "> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">next $150 million of gross assets</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">15 basis points (0.15%)</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">next $200 million of gross assets</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10 basis points (0.10%)</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; "> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">in excess of $500 million of gross assets</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5 basis points (0.05%)</span></td></tr> </table> first $150 million of gross assets 20 basis points (0.20%) next $150 million of gross assets 15 basis points (0.15%) next $200 million of gross assets 10 basis points (0.10%) in excess of $500 million of gross assets 5 basis points (0.05%) 259500 259500 259500 172268 164377 155592 194625 64875 5000 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 8 – FINANCIAL HIGHLIGHTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Per Share Data <sup>(1)</sup>:</b></span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%">Net asset value at beginning of period</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">0.175</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">0.265</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">0.266</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">0.286</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">0.187</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Net investment income (loss)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.015</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.001</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.007</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.006</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.007</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Change in unrealized gain (loss)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.042</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.043</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.008</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.025</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.106</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Realized gain (loss)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-142">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.046</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-143">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.036</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-144">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Dividend distribution</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-145">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-146">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-147">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(0.075</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-148">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Net asset value at end of period</td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">0.118</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">0.175</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">0.265</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">0.266</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">0.286</td><td style="padding-bottom: 2pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total return based on net asset value <sup>(2)</sup></span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(32.6</td><td style="text-align: left">)%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(34.0</td><td style="text-align: left">)%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.4</td><td style="text-align: left">)%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(7.0</td><td style="text-align: left">)%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">52.9</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -10pt; padding-left: 10pt">Weighted average shares outstanding for period, basic</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left">Ratio/Supplemental Data:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net assets at end of period</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">14,263,001</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">21,043,266</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">31,904,562</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">32,083,462</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">34,472,992</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Average net assets</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">18,965,398</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">26,066,545</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">32,367,368</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">35,317,720</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">29,126,862</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -10pt; padding-left: 10pt; text-align: left">Total operating expenses to average net assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10.1</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.8</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.9</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6.6</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6.0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -10pt; padding-left: 10pt; text-align: left">Net operating expenses to average net assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10.1</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.8</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.9</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6.6</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6.0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -10pt; padding-left: 10pt; text-align: left">Net operating expenses excluding management fees, incentive fees, and interest expense to average net assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9.1</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.8</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.6</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.1</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -10pt; padding-left: 10pt; text-align: left">Net investment income (loss) to average net assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(9.3</td><td style="text-align: left">)%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.5</td><td style="text-align: left">)%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2.5</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2.2</td><td style="text-align: left">)%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3.0</td><td style="text-align: left">)%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -10pt; padding-left: 10pt; text-align: left">Net investment income (loss) to average net assets, excluding other income from non-investment sources</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(9.3</td><td style="text-align: left">)%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.9</td><td style="text-align: left">)%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2.5</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2.3</td><td style="text-align: left">)%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3.0</td><td style="text-align: left">)%</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -10pt; padding-left: 10pt; text-align: left">Net increase (decrease) in net assets resulting from operations to average net assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(35.8</td><td style="text-align: left">)%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(41.6</td><td style="text-align: left">)%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.6</td><td style="text-align: left">)%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18.8</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">41.2</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Portfolio Turnover</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.3</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.3</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">32.3</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.4</td><td style="text-align: left">%</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial highlights are based on weighted average shares outstanding.</span></td></tr> <tr style="vertical-align: top"> <td> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total return based on net asset value is based upon the change in net asset value per share between the opening and ending net asset values per share in the period. The total returns are not annualized.</span></td></tr> <tr style="vertical-align: top"> <td> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial Highlights for the periods of less than one year are annualized and the ratios of operating expenses to average net assets and net investment loss to average net assets are adjusted accordingly. Non-recurring expenses are not annualized. For the years ended December 31, 2025 and 2024, the Company did not exclude any nonrecurring expenses. Because the ratios are calculated for the Company’s common stock taken as a whole, an individual investor’s ratios may vary from these ratios.</span></td></tr> </table> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Per Share Data <sup>(1)</sup>:</b></span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%">Net asset value at beginning of period</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">0.175</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">0.265</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">0.266</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">0.286</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">0.187</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Net investment income (loss)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.015</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.001</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.007</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.006</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.007</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Change in unrealized gain (loss)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.042</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.043</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.008</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.025</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.106</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Realized gain (loss)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-142">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.046</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-143">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.036</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-144">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Dividend distribution</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-145">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-146">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-147">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(0.075</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-148">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Net asset value at end of period</td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">0.118</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">0.175</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">0.265</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">0.266</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">0.286</td><td style="padding-bottom: 2pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total return based on net asset value <sup>(2)</sup></span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(32.6</td><td style="text-align: left">)%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(34.0</td><td style="text-align: left">)%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.4</td><td style="text-align: left">)%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(7.0</td><td style="text-align: left">)%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">52.9</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -10pt; padding-left: 10pt">Weighted average shares outstanding for period, basic</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left">Ratio/Supplemental Data:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net assets at end of period</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">14,263,001</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">21,043,266</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">31,904,562</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">32,083,462</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">34,472,992</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Average net assets</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">18,965,398</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">26,066,545</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">32,367,368</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">35,317,720</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">29,126,862</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -10pt; padding-left: 10pt; text-align: left">Total operating expenses to average net assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10.1</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.8</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.9</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6.6</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6.0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -10pt; padding-left: 10pt; text-align: left">Net operating expenses to average net assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10.1</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.8</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.9</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6.6</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6.0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -10pt; padding-left: 10pt; text-align: left">Net operating expenses excluding management fees, incentive fees, and interest expense to average net assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9.1</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.8</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.6</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.1</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -10pt; padding-left: 10pt; text-align: left">Net investment income (loss) to average net assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(9.3</td><td style="text-align: left">)%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.5</td><td style="text-align: left">)%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2.5</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2.2</td><td style="text-align: left">)%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3.0</td><td style="text-align: left">)%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -10pt; padding-left: 10pt; text-align: left">Net investment income (loss) to average net assets, excluding other income from non-investment sources</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(9.3</td><td style="text-align: left">)%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.9</td><td style="text-align: left">)%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2.5</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2.3</td><td style="text-align: left">)%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3.0</td><td style="text-align: left">)%</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -10pt; padding-left: 10pt; text-align: left">Net increase (decrease) in net assets resulting from operations to average net assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(35.8</td><td style="text-align: left">)%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(41.6</td><td style="text-align: left">)%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.6</td><td style="text-align: left">)%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18.8</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">41.2</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Portfolio Turnover</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.3</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.3</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">32.3</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.4</td><td style="text-align: left">%</td></tr> </table> 0.175 0.265 0.266 0.286 0.187 -0.015 -0.001 0.007 -0.006 -0.007 -0.042 -0.043 -0.008 0.025 0.106 -0.046 0.036 0.075 0.118 0.175 0.265 0.266 0.286 -0.326 -0.34 -0.004 -0.07 0.529 120486061 120486061 120486061 120486061 120486061 14263001 21043266 31904562 32083462 34472992 18965398 26066545 32367368 35317720 29126862 0.101 0.058 0.049 0.066 0.06 0.101 0.058 0.049 0.066 0.06 0.091 0.048 0.04 0.056 0.051 -0.093 -0.005 0.025 -0.022 -0.03 -0.093 -0.009 0.025 -0.023 -0.03 -0.358 -0.416 -0.006 0.188 0.412 0.003 0.003 0 0.323 0.004 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 9 – COMMITMENTS AND CONTINGENCIES </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In the normal course of business, the Company may enter into investment agreements under which it commits to make an investment in a portfolio company at some future date or over a specified period of time. The Company maintains sufficient assets to provide adequate cover to allow it to satisfy its unfunded commitment amount as of December 31, 2025. The unfunded commitment is accounted for under ASC 820. As of the date of this report, all commitments have been funded.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On December 24, 2024, the Company entered into a Corporate Guaranty Agreement with a new food vendor of Rockfish Seafood Grill, Inc. (“Rockfish”) that should provide significant savings to Rockfish. This guaranty was limited to $90,000 and expired on June 1, 2025. As of September 30, 2025, the Company has no further obligations under this guaranty.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Legal Proceedings </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">From time to time, the Company may be a party to certain legal proceedings in the ordinary course of business, including proceedings relating to the enforcement of the Company’s rights under contracts with its portfolio companies. The Company is not currently subject to any material legal proceedings, nor, to our knowledge, is any material legal proceeding threatened against us.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Risks and Uncertainties</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Russia/Belarus Action with Ukraine</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Various social and political circumstances in the U.S. and around the world (including wars and other forms of conflict, including rising trade tensions between the United States and China, and other uncertainties regarding actual and potential shifts in the U.S. and foreign, trade, economic and other policies with other countries, terrorist acts, security operations and catastrophic events such as fires, floods, earthquakes, tornadoes, hurricanes and global health epidemics), may also contribute to increased market volatility and economic uncertainties or deterioration in the U.S. and worldwide. Specifically, the rising conflict between Russia and Ukraine, and resulting market volatility could adversely affect the Company’s operations. In response to the conflict between Russia and Ukraine, the U.S. and other countries have imposed sanctions or other restrictive actions against Russia. Any of the above factors, including sanctions, export controls, tariffs, trade wars and other governmental actions, may materially impact the valuation of the portfolio investments and in turn, the net asset value of the Company. The specific impact on the Company’s financial condition, results of operations, and cash flows is not determinable as of the date of these financial statements.</span></p> 90000 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 10 – UNCONSOLIDATED SIGNIFICANT SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s investments are primarily in private small and lower middle-market companies. In accordance with Rules 3.09 and 4.08(g) of Regulation S-X, the Company must determine which of its unconsolidated controlled portfolio companies are considered “significant subsidiaries”, if any. On May 21, 2020, the U.S. Securities and Exchange Commission adopted rule amendments to be effective on January 1, 2021. Under the new rules, a new definition of “significant subsidiary” was adopted.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In evaluating these investments, there are now two tests utilized to determine if any of the Company’s control investments are considered significant subsidiaries; the investment and the income significant tests. The asset significant test was eliminated under the new rules. Rule 3-09 of Regulation S-X, as interpreted by the SEC, requires the Company to include separate audited financial statements of any unconsolidated majority-owned subsidiary in this filing if the subsidiary investment value exceeds 20% of the Company’s total investments at fair value, the income from the subsidiary investment exceeds 80% of the Company’s change in net assets resulting from operations, or the income from the subsidiary investment exceeds 20% of the Company’s change in net assets resulting from operations and the subsidiary investment value exceeds 5% of the Company’s total investments at fair value. Rule 4-08(g) of Regulation S-X requires summarized financial information of an unconsolidated subsidiary where the Company owns more than 25% of the voting securities or is otherwise controlled by the Company in this filing if it does not qualify under Rule 3.09 of Regulation S-X and if the subsidiary investment value exceeds 10% of the Company’s total investments at fair value, the income from the subsidiary investment exceeds 80% of the Company’s change in net assets resulting from operations, or the income from the subsidiary investment exceeds 10% of the Company’s change in net assets resulting from operations and the subsidiary investment value exceeds 5% of the Company’s total investments at fair value.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has determined that Rockfish Seafood Grill, Inc. and Advantis Certified Staffing Solutions, Inc., majority owned or control investments, were each considered a significant subsidiary at the 20% level at December 31, 2025 as prescribed under Rule 3-09 of Regulation S-X. The Company has included the audited financial statements of Rockfish Seafood Grill, Inc. for the years ended December 31, 2025 and December 25, 2024 and Advantis Certified Staffing Solutions, Inc. for the years ended December 31, 2025 and 2024. See “Item 15. Exhibits And Financial Statement Schedules.”</p> The asset significant test was eliminated under the new rules. Rule 3-09 of Regulation S-X, as interpreted by the SEC, requires the Company to include separate audited financial statements of any unconsolidated majority-owned subsidiary in this filing if the subsidiary investment value exceeds 20% of the Company’s total investments at fair value, the income from the subsidiary investment exceeds 80% of the Company’s change in net assets resulting from operations, or the income from the subsidiary investment exceeds 20% of the Company’s change in net assets resulting from operations and the subsidiary investment value exceeds 5% of the Company’s total investments at fair value. Rule 4-08(g) of Regulation S-X requires summarized financial information of an unconsolidated subsidiary where the Company owns more than 25% of the voting securities or is otherwise controlled by the Company in this filing if it does not qualify under Rule 3.09 of Regulation S-X and if the subsidiary investment value exceeds 10% of the Company’s total investments at fair value, the income from the subsidiary investment exceeds 80% of the Company’s change in net assets resulting from operations, or the income from the subsidiary investment exceeds 10% of the Company’s change in net assets resulting from operations and the subsidiary investment value exceeds 5% of the Company’s total investments at fair value. The Company has determined that Rockfish Seafood Grill, Inc. and Advantis Certified Staffing Solutions, Inc., majority owned or control investments, were each considered a significant subsidiary at the 20% level at December 31, 2025 as prescribed under Rule 3-09 of Regulation S-X. <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 11 – SEGMENT INFORMATION</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">An operating segment is a component of an entity that engages in business activities from which it may earn revenues and incur expenses, whose operating results are reviewed regularly by the chief operating decision-maker, and for which discrete financial information is available. The Company operates under one operating segment and reporting unit, investment management. The Company’s chief operating decision-maker is our interim <span style="-sec-ix-hidden: hidden-fact-149">chief executive officer</span>, who is responsible for determining our investment strategy, capital allocation, expense allocation, expense structure and significant transactions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Key metrics include, but are not limited to, net investment income (loss) after income tax expense (benefit) and net increase (decrease) in net assets resulting from operations that is reported on the Statements of Operations, fair value of investments as disclosed on the Schedule of Investments, as well as distributions made to the Company’s shareholders.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table illustrates key metrics for the years ended December 31, 2025 and 2024 as reported on the Statements of Operations:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Year Ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Net investment loss after taxes</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">(1,768,941</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">(138,637</td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Net decrease in net assets resulting from operations</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(6,780,265</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(10,861,296</td><td style="text-align: left">)</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table illustrates key metrics as of December 31, 2025 and December 31, 2024 as reported on the Schedules of Investments:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31,<br/> 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31,<br/> 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%">Fair value of investments</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">14,261,455</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">19,217,779</td><td style="width: 1%; text-align: left"> </td></tr> </table> 1 1 The Company’s chief operating decision-maker is our interim chief executive officer, who is responsible for determining our investment strategy, capital allocation, expense allocation, expense structure and significant transactions. <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table illustrates key metrics for the years ended December 31, 2025 and 2024 as reported on the Statements of Operations:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Year Ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Net investment loss after taxes</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">(1,768,941</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">(138,637</td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Net decrease in net assets resulting from operations</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(6,780,265</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(10,861,296</td><td style="text-align: left">)</td></tr> </table> -1768941 -138637 -6780265 -10861296 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table illustrates key metrics as of December 31, 2025 and December 31, 2024 as reported on the Schedules of Investments:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31,<br/> 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31,<br/> 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%">Fair value of investments</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">14,261,455</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">19,217,779</td><td style="width: 1%; text-align: left"> </td></tr> </table> 14261455 19217779 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 12 – SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="14" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Quarter Ended</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31,<br/> 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">September 30,<br/> 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">June 30,<br/> 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">March 31,<br/> 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left">Total Investment Income</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">30,728</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">25,734</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">27,417</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">72,062</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Total Operating Expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">805,654</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">326,235</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">362,541</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">420,352</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Income tax expense (benefit)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">114</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">9,302</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">570</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">114</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Net Investment Income (Loss)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(775,040</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(309,803</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(335,694</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(348,404</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Net Change in Unrealized Appreciation/(Depreciation)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2,427,842</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(702,832</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(178,885</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,701,765</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net Increase (Decrease) in Net Assets Resulting from Operations</td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(3,202,882</td><td style="padding-bottom: 2pt; text-align: left">)</td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(1,012,635</td><td style="padding-bottom: 2pt; text-align: left">)</td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(514,579</td><td style="padding-bottom: 2pt; text-align: left">)</td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(2,050,169</td><td style="padding-bottom: 2pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -10pt; padding-left: 10pt; text-align: left">Net Increase (Decrease) in Net Assets from Operations per Common Share:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 10pt">Basic</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.028</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.008</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.004</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.017</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Diluted</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.028</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.008</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.004</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.017</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Weighted Average Common Shares Outstanding - Basic</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Weighted Average Common Shares Outstanding - Diluted</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="14" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Quarter Ended</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31,<br/> 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">September 30,<br/> 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">June 30,<br/> 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">March 31,<br/> 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left">Total Investment Income</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">420,927</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">326,698</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">319,654</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">316,772</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Total Operating Expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">372,385</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">352,234</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">402,451</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">397,468</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Income tax expense (benefit)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(5,206</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,402</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">552</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,402</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Net Investment Income (Loss)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">53,748</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(26,938</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(83,349</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(82,098</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Net Realized Gain (Loss) on Investments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-150">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-151">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,549,735</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-152">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net Change in Unrealized Appreciation/(Depreciation)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2,135,886</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(986,123</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">4,500,937</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(6,551,852</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -10pt; padding-left: 10pt; text-align: left">Net Increase (Decrease) in Net Assets Resulting from Operations</td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(2,082,138</td><td style="padding-bottom: 2pt; text-align: left">)</td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(1,013,061</td><td style="padding-bottom: 2pt; text-align: left">)</td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(1,132,147</td><td style="padding-bottom: 2pt; text-align: left">)</td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(6,633,950</td><td style="padding-bottom: 2pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -10pt; padding-left: 10pt; text-align: left">Net Increase (Decrease) in Net Assets from Operations per Common Share:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Basic</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.017</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.008</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.009</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.055</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 10pt">Diluted</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.017</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.008</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.009</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.055</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Weighted Average Common Shares Outstanding - Basic</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Weighted Average Common Shares Outstanding - Diluted</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td></tr> </table><table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31,<br/> 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">September 30,<br/> 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">June 30,<br/> 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">March 31,<br/> 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left">Total Investment Income</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">518,826</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">513,278</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">740,055</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">708,734</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Total Operating Expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">393,392</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">354,352</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">419,818</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">431,764</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Income tax expense</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">59,363</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">174</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,456</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-153">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Net Investment Income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">66,071</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">158,752</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">314,781</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">276,970</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Net Realized Loss on Investments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,200</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-154">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-155">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-156">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net Change in Unrealized Appreciation/(Depreciation)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(919,008</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(941,952</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,160,718</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,294,032</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -10pt; padding-left: 10pt; text-align: left">Net Increase (Decrease) in Net Assets Resulting from Operations</td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(854,137</td><td style="padding-bottom: 2pt; text-align: left">)</td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(783,200</td><td style="padding-bottom: 2pt; text-align: left">)</td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">2,475,499</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(1,017,062</td><td style="padding-bottom: 2pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -10pt; padding-left: 10pt; text-align: left">Net Increase (Decrease) in Net Assets from Operations per Common Share:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Basic</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.007</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.007</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.021</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.008</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 10pt">Diluted</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.007</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.007</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.021</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.008</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Weighted Average Common Shares Outstanding - Basic</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Weighted Average Common Shares Outstanding - Diluted</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td></tr> </table> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="14" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Quarter Ended</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31,<br/> 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">September 30,<br/> 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">June 30,<br/> 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">March 31,<br/> 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left">Total Investment Income</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">30,728</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">25,734</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">27,417</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">72,062</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Total Operating Expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">805,654</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">326,235</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">362,541</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">420,352</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Income tax expense (benefit)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">114</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">9,302</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">570</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">114</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Net Investment Income (Loss)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(775,040</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(309,803</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(335,694</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(348,404</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Net Change in Unrealized Appreciation/(Depreciation)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2,427,842</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(702,832</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(178,885</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,701,765</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net Increase (Decrease) in Net Assets Resulting from Operations</td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(3,202,882</td><td style="padding-bottom: 2pt; text-align: left">)</td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(1,012,635</td><td style="padding-bottom: 2pt; text-align: left">)</td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(514,579</td><td style="padding-bottom: 2pt; text-align: left">)</td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(2,050,169</td><td style="padding-bottom: 2pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -10pt; padding-left: 10pt; text-align: left">Net Increase (Decrease) in Net Assets from Operations per Common Share:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 10pt">Basic</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.028</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.008</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.004</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.017</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Diluted</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.028</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.008</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.004</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.017</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Weighted Average Common Shares Outstanding - Basic</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Weighted Average Common Shares Outstanding - Diluted</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="14" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Quarter Ended</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31,<br/> 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">September 30,<br/> 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">June 30,<br/> 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">March 31,<br/> 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left">Total Investment Income</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">420,927</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">326,698</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">319,654</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">316,772</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Total Operating Expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">372,385</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">352,234</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">402,451</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">397,468</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Income tax expense (benefit)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(5,206</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,402</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">552</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,402</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Net Investment Income (Loss)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">53,748</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(26,938</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(83,349</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(82,098</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Net Realized Gain (Loss) on Investments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-150">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-151">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,549,735</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-152">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net Change in Unrealized Appreciation/(Depreciation)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2,135,886</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(986,123</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">4,500,937</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(6,551,852</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -10pt; padding-left: 10pt; text-align: left">Net Increase (Decrease) in Net Assets Resulting from Operations</td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(2,082,138</td><td style="padding-bottom: 2pt; text-align: left">)</td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(1,013,061</td><td style="padding-bottom: 2pt; text-align: left">)</td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(1,132,147</td><td style="padding-bottom: 2pt; text-align: left">)</td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(6,633,950</td><td style="padding-bottom: 2pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -10pt; padding-left: 10pt; text-align: left">Net Increase (Decrease) in Net Assets from Operations per Common Share:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Basic</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.017</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.008</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.009</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.055</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 10pt">Diluted</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.017</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.008</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.009</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.055</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Weighted Average Common Shares Outstanding - Basic</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Weighted Average Common Shares Outstanding - Diluted</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td></tr> </table><table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31,<br/> 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">September 30,<br/> 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">June 30,<br/> 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">March 31,<br/> 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left">Total Investment Income</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">518,826</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">513,278</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">740,055</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">708,734</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Total Operating Expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">393,392</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">354,352</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">419,818</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">431,764</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Income tax expense</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">59,363</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">174</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,456</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-153">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Net Investment Income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">66,071</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">158,752</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">314,781</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">276,970</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Net Realized Loss on Investments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,200</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-154">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-155">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-156">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net Change in Unrealized Appreciation/(Depreciation)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(919,008</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(941,952</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,160,718</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,294,032</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -10pt; padding-left: 10pt; text-align: left">Net Increase (Decrease) in Net Assets Resulting from Operations</td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(854,137</td><td style="padding-bottom: 2pt; text-align: left">)</td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(783,200</td><td style="padding-bottom: 2pt; text-align: left">)</td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">2,475,499</td><td style="padding-bottom: 2pt; text-align: left"> </td><td style="padding-bottom: 2pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(1,017,062</td><td style="padding-bottom: 2pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -10pt; padding-left: 10pt; text-align: left">Net Increase (Decrease) in Net Assets from Operations per Common Share:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Basic</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.007</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.007</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.021</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.008</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 10pt">Diluted</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.007</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.007</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.021</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.008</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Weighted Average Common Shares Outstanding - Basic</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Weighted Average Common Shares Outstanding - Diluted</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,486,061</td><td style="text-align: left"> </td></tr> </table> 30728 25734 27417 72062 805654 326235 362541 420352 114 9302 570 114 -775040 -309803 -335694 -348404 -2427842 -702832 -178885 -1701765 -3202882 -1012635 -514579 -2050169 -0.028 -0.008 -0.004 -0.017 -0.028 -0.008 -0.004 -0.017 120486061 120486061 120486061 120486061 120486061 120486061 120486061 120486061 420927 326698 319654 316772 372385 352234 402451 397468 -5206 1402 552 1402 53748 -26938 -83349 -82098 -5549735 -2135886 -986123 4500937 -6551852 -2082138 -1013061 -1132147 -6633950 -0.017 -0.008 -0.009 -0.055 -0.017 -0.008 -0.009 -0.055 120486061 120486061 120486061 120486061 120486061 120486061 120486061 120486061 518826 513278 740055 708734 393392 354352 419818 431764 59363 174 5456 66071 158752 314781 276970 -1200 -919008 -941952 2160718 -1294032 -854137 -783200 2475499 -1017062 -0.007 -0.007 0.021 -0.008 -0.007 -0.007 0.021 -0.008 120486061 120486061 120486061 120486061 120486061 120486061 120486061 120486061 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 13 – SUBSEQUENT EVENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Portfolio Activity</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subsequent to the year ended December 31, 2025 and through the date of this filing, there was no portfolio activity or other events to report.</span></p> <p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Schedule 12-14</b></span></p> <p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The table below represents the fair value of control and affiliate investments at December 31, 2024 and any amortization, purchases, sales, and realized and change in unrealized gain (loss) made to such investments, as well as the ending fair value as of December 31, 2025.</span></p> <p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><b>Portfolio Company/Type of Investment <sup>(1)</sup></b></span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><b>Principal<br/> Amount/Shares/<br/> Ownership % at December 31,<br/> 2025</b></span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Amount of<br/> Interest and<br/> Dividends<br/> Credited in<br/> Income</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Fair Value at December 31,<br/> 2024</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><b>Purchases <sup>(2)</sup></b></span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Sales</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Transfers from Restructuring/<br/> Transfers into<br/> Control Investments</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Change in<br/> Unrealized<br/> Gains/(Losses)</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><b>Fair Value at December 31,<br/> 2025</b></span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><span style="text-decoration:underline">Control Investments</span></span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -10pt; padding-left: 10pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Advantis Certified Staffing Solutions, Inc.</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -10pt; padding-left: 10pt; width: 28%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Second Lien Loan, 12.0% Cash, due 11/30/2021<sup>(3)</sup></span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">4,500,000</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-157; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">3,836,547</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="width: 1%; text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="width: 1%; text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">$</span></td><td style="width: 6%; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-158; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="width: 1%; text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="width: 1%; text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="width: 1%; text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">$</span></td><td style="width: 6%; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-159; font-family: Times New Roman, Times, Serif; font-size: 8pt">      -</span></td><td style="width: 1%; text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="width: 1%; text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="width: 1%; text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span>$</td><td style="width: 6%; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-160; font-family: Times New Roman, Times, Serif; font-size: 8pt">                 -</span></td><td style="width: 1%; text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="width: 1%; text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="width: 1%; text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">$</span></td><td style="width: 6%; text-transform: uppercase; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">(121,851</span></td><td style="width: 1%; text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">)</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">3,714,696</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -10pt; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Unsecured loan Consolidated BL Note 6.33% due 12/31/2027</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">$</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">1,381,586</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">87,454</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-161; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-162; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-163; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-164; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-165; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-166; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -10pt; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Common Stock – Series A <sup>(3)</sup></span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">225,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-167; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-168; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-169; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-170; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-171; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-172; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-173; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -10pt; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Common Stock – Series B <sup>(3)</sup></span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">9,500,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-174; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-175; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-176; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-177; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-178; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-179; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-180; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -10pt; padding-left: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Warrant for 250,000 Shares of Series A Common Stock, exercise price $0.01 per share, expires 1/1/2027<sup>(3)</sup></span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">1</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-181; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-182; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-183; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-184; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-185; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-186; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-187; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -10pt; padding-left: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Warrant for 700,000 Shares of Series A Common Stock, exercise price $0.01 per share, expires 1/1/2027<sup>(3)</sup></span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">1</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-188; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-189; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-190; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-191; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-192; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-193; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-194; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -10pt; padding-left: 10pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">PCC SBH Sub, Inc.</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -10pt; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Common Stock <sup>(3)</sup></span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">100</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-195; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">1,379,019</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-196; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-197; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-198; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">(494,677</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">)</span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">884,342</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -10pt; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">First lien Revolving Loan 10%, due 5/8/2026 <sup>(4)</sup></span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">135,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-199"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></div></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">80,000</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">55,000</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-200"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></div></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-201"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></div></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-202; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">135,000</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -10pt; padding-left: 10pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Rockfish Seafood Grill, Inc.</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -10pt; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">First Lien Loan, 8% Cash, 6.0% PIK, due 3/31/2018 <sup>(2) (3)</sup></span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">$</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">6,352,944</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-203; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">7,519,963</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-204; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-205; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-206; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">(2,499,187</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">)</span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">5,020,776</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -10pt; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Revolving Loan, 8% Cash, due 12/31/2027<sup>(3)</sup></span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">$</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">2,251,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">45,020</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">2,251,000</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-207; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-208; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-209; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">182,581</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">2,433,581</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -10pt; padding-left: 10pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Rockfish Holdings, LLC</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -10pt; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Warrant for Membership Interest, exercise price $0.001 per 1% membership interest, expires 7/28/2028 <sup>(3)</sup></span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">10.0</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">%</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-210; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-211; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-212; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-213; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-214; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-215; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-216; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -10pt; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Membership Interest – Class A <sup>(3)</sup></span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">99.997</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">%</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-217; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-218; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="padding-bottom: 1.5pt; text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-219; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="padding-bottom: 1.5pt; text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-220; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="padding-bottom: 1.5pt; text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-221; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-222; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-223; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="padding-bottom: 1.5pt; text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -10pt; padding-left: 10pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Total Control Investments</span></td><td style="padding-bottom: 2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="padding-bottom: 2pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="padding-bottom: 2pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="padding-bottom: 2pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; padding-bottom: 2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; text-transform: uppercase; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">132,474</span></td><td style="padding-bottom: 2pt; text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; padding-bottom: 2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; text-transform: uppercase; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">15,066,529</span></td><td style="padding-bottom: 2pt; text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; padding-bottom: 2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; text-transform: uppercase; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">55,000</span></td><td style="padding-bottom: 2pt; text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; padding-bottom: 2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-224; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="padding-bottom: 2pt; text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="padding-bottom: 2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="-sec-ix-hidden: hidden-fact-225; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="padding-bottom: 2pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; padding-bottom: 2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; text-transform: uppercase; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">(2,933,134</span></td><td style="padding-bottom: 2pt; text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">)</span></td><td style="text-transform: uppercase; padding-bottom: 2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; text-transform: uppercase; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">12,188,395</span></td><td style="padding-bottom: 2pt; text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table border="0" cellpadding="0" style="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><sup>(1)</sup></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Represents an illiquid investment.</span></td> </tr></table> <p style="margin-top: 0; margin-bottom: 0"> </p> <table border="0" cellpadding="0" style="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><sup>(2)</sup></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Includes PIK interest.</span></td></tr> </table> <p style="margin-top: 0; margin-bottom: 0"> </p> <table border="0" cellpadding="0" style="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><sup>(3)</sup></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-income producing security.</span></td> </tr></table> <p style="margin-top: 0; margin-bottom: 0"> </p> <table border="0" cellpadding="0" style="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><sup>(4)</sup></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Represents an investment valued using significant unobservable inputs.</span></td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Schedule 12-14</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 7pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The table below represents the fair value of control and affiliate investments at December 31, 2023 and any amortization, purchases, sales, and realized and change in unrealized gain (loss) made to such investments, as well as the ending fair value as of December 31, 2024.</span></p> <p style="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%; border-spacing: 0px;"> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: bold 8pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt"><b>Portfolio Company/Type of Investment<sup>(1)</sup></b></span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font: bold 8pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Principal Amount/Shares/ Ownership % at December 31, 2024</span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font: bold 8pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: center"><span style="font-size: 8pt">Amount of Interest and Dividends Credited in Income</span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font: bold 8pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: center"><span style="font-size: 8pt">Fair Value at December 31,<br/> 2023</span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font: bold 8pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><b>Purchases <sup>(2)</sup></b></span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font: bold 8pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: center"><span style="font-size: 8pt">Sales</span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font: bold 8pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: center"><span style="font-size: 8pt">Transfers from Restructuring/<br/> Transfers into Control Investments</span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font: bold 8pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: center"><span style="font-size: 8pt">Change in Unrealized Gains/(Losses)</span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font: bold 8pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: center"><span style="font-size: 8pt">Fair Value at<br/> December 31,<br/> 2024</span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: bold 8pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt"><span style="font-size: 8pt"><span style="text-decoration:underline">Control Investments</span></span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: bold 8pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt"><span style="font-size: 8pt">Advantis Certified Staffing Solutions, Inc.</span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 8pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt; width: 28%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Second Lien Loan, 12.0% Cash, due 11/30/2021<sup>(3)</sup></span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 6%; text-align: right"><span style="font-size: 8pt">4,500,000</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 6%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-226; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 6%; text-align: right"><span style="font-size: 8pt">4,736,141</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-transform: uppercase; text-align: left"><span style="font-size: 8pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 6%; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-227; font-size: 8pt">          -</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-transform: uppercase; text-align: left"><span style="font-size: 8pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 6%; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-228; font-size: 8pt">           -</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span>$</td><td style="font: 8pt Times New Roman, Times, Serif; width: 6%; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-229; font-size: 8pt">                -</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-transform: uppercase; text-align: left"><span style="font-size: 8pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 6%; text-transform: uppercase; text-align: right"><span style="font-size: 8pt">(899,594</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-transform: uppercase; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 6%; text-align: right"><span style="font-size: 8pt">3,836,547</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; "> <td style="font: 8pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt; text-align: left"><span style="-sec-ix-hidden: hidden-fact-236; font-size: 8pt">Unsecured loan Consolidated BL Note 6.33% due 12/31/2027</span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,381,586</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="font-size: 8pt">87,694</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-230; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-231; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-232; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-233; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-234; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-235; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 8pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Common Stock – Series A <sup>(3)</sup></span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">225,000</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-237; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-238; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-239; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-240; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-241; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-242; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-243; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; "> <td style="font: 8pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Common Stock – Series B <sup>(3)</sup></span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">9,500,000</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-244; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-245; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-246; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-247; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-248; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-249; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-250; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 8pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Warrant for 250,000 Shares of Series A Common Stock, exercise price $0.01 per share, expires 1/1/2027<sup>(3)</sup></span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-251; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-252; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-253; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-254; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-255; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-256; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-257; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; "> <td style="font: 8pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Warrant for 700,000 Shares of Series A Common Stock, exercise price $0.01 per share, expires 1/1/2027<sup>(3)</sup></span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-258; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-259; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-260; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-261; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-262; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-263; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-264; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 8pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt; text-align: left"><span style="font-size: 8pt">Dominion Medical Management, Inc.</span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; "> <td style="font: 8pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">First Lien Loan, 12.0% Cash, 6% PIK due, 3/31/2020 <sup>(2) (3)</sup></span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,516,144</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-265; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="font-size: 8pt">173,399</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-266; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="font-size: 8pt">(5,742,667</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-267; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="font-size: 8pt">5,569,268</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-268; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 8pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt; text-align: left"><span style="font-size: 8pt">Integrated Medical Partners, LLC</span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; "> <td style="font: 8pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Preferred Membership – Class A units <sup>(3)</sup></span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">800</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-269; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-270; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-271; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-272; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-273; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-274; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-275; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 8pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Preferred Membership – Class B units <sup>(3)</sup></span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">760</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-276; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-277; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-278; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-279; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-280; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-281; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-282; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; "> <td style="font: 8pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Common Units <sup>(3)</sup></span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">14,082</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-283; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-284; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-285; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-286; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-287; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-288; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-289; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 8pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt; text-align: left"><span style="font-size: 8pt">PCC SBH Sub, Inc.</span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; "> <td style="font: 8pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Common Stock <sup>(3)</sup></span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">100</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-290; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="font-size: 8pt">1,543,841</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-291; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-292; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-293; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="font-size: 8pt">(164,822</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="font-size: 8pt">1,379,019</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 8pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">First lien Revolving Loan 10%, due 5/8/2026 <sup>(4)</sup></span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">80,000</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><div style="-sec-ix-hidden: hidden-fact-294"><span style="font-size: 8pt"> </span></div></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-295; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="font-size: 8pt">80,000</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><div style="-sec-ix-hidden: hidden-fact-296"><span style="font-size: 8pt"> </span></div></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><div style="-sec-ix-hidden: hidden-fact-297"><span style="font-size: 8pt"> </span></div></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-298; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="font-size: 8pt">80,000</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; "> <td style="font: bold 8pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt; text-align: left"><span style="font-size: 8pt">Rockfish Seafood Grill, Inc.</span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 8pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">First Lien Loan, 8% Cash, 6.0% PIK, due 3/31/2018 <sup>(2) (3)</sup></span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">6,352,944</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-299; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="font-size: 8pt">9,877,041</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-300; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-301; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-302; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="font-size: 8pt">(2,357,078</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="font-size: 8pt">7,519,963</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; "> <td style="font: 8pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt; text-align: left"><span style="font-size: 8pt">Revolving Loan, 8% PIK, due 12/31/2027</span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">2,251,000</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">183,081</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="font-size: 8pt">2,251,000</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="font-size: 8pt">2,251,000</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 8pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt; text-align: left"><span style="font-size: 8pt">Rockfish Holdings, LLC</span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; "> <td style="font: 8pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt; text-align: left"><span style="font-size: 8pt">Warrant for Membership Interest, exercise price $0.001 per 1% membership interest, expires 7/28/2028<sup>(3)</sup></span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">10.0</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">%</span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-303; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-304; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-305; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-306; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-307; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-308; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-309; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 8pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Membership Interest – Class A <sup>(3)</sup></span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"><span style="font-size: 8pt">99.997</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt">%</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-310; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-311; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-312; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-313; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-314; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-315; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-316; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; "> <td style="font: bold 8pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt; text-align: left"><span style="font-size: 8pt">Total Control Investments</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2pt"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; padding-bottom: 2pt"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 4pt double; text-transform: uppercase; text-align: left"><span style="font-size: 8pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 4pt double; text-transform: uppercase; text-align: right"><span style="font-size: 8pt">270,775</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2pt; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; padding-bottom: 2pt"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 4pt double; text-transform: uppercase; text-align: left"><span style="font-size: 8pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 4pt double; text-transform: uppercase; text-align: right"><span style="font-size: 8pt">18,581,422</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2pt; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; padding-bottom: 2pt"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 4pt double; text-transform: uppercase; text-align: left"><span style="font-size: 8pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 4pt double; text-transform: uppercase; text-align: right"><span style="font-size: 8pt">80,000</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2pt; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; padding-bottom: 2pt"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 4pt double; text-transform: uppercase; text-align: left"><span style="font-size: 8pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 4pt double; text-transform: uppercase; text-align: right"><span style="font-size: 8pt">(5,742,667</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2pt; text-transform: uppercase; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2pt"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 4pt double; text-align: left"><span style="font-size: 8pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 4pt double; text-align: right"><span style="-sec-ix-hidden: hidden-fact-317; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; padding-bottom: 2pt"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 4pt double; text-transform: uppercase; text-align: left"><span style="font-size: 8pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 4pt double; text-transform: uppercase; text-align: right"><span style="font-size: 8pt">2,147,774</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2pt; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; padding-bottom: 2pt"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 4pt double; text-transform: uppercase; text-align: left"><span style="font-size: 8pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 4pt double; text-transform: uppercase; text-align: right"><span style="font-size: 8pt">15,066,529</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2pt; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td></tr> </table> <p style="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 7pt"> </span></p> <table border="0" cellpadding="0" style="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><sup>(1)</sup></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Represents an illiquid investment.</span></td></tr> </table> <p style="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table border="0" cellpadding="0" style="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.25in"><sup>(2)</sup></td> <td style="text-align: justify">Includes PIK interest.</td></tr> </table> <p style="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table border="0" cellpadding="0" style="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.25in"><sup>(3)</sup></td> <td style="text-align: justify">Non-income producing security.</td></tr> </table> <p style="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table border="0" cellpadding="0" style="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.25in"><sup>(4)</sup></td> <td style="text-align: justify">Represents an investment valued using significant unobservable inputs.</td></tr> </table> <p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The table below represents the fair value of control and affiliate investments at December 31, 2024 and any amortization, purchases, sales, and realized and change in unrealized gain (loss) made to such investments, as well as the ending fair value as of December 31, 2025.</span></p> <p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><b>Portfolio Company/Type of Investment <sup>(1)</sup></b></span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><b>Principal<br/> Amount/Shares/<br/> Ownership % at December 31,<br/> 2025</b></span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Amount of<br/> Interest and<br/> Dividends<br/> Credited in<br/> Income</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Fair Value at December 31,<br/> 2024</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><b>Purchases <sup>(2)</sup></b></span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Sales</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Transfers from Restructuring/<br/> Transfers into<br/> Control Investments</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Change in<br/> Unrealized<br/> Gains/(Losses)</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><b>Fair Value at December 31,<br/> 2025</b></span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><span style="text-decoration:underline">Control Investments</span></span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -10pt; padding-left: 10pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Advantis Certified Staffing Solutions, Inc.</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -10pt; padding-left: 10pt; width: 28%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Second Lien Loan, 12.0% Cash, due 11/30/2021<sup>(3)</sup></span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">4,500,000</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-157; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">3,836,547</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="width: 1%; text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="width: 1%; text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">$</span></td><td style="width: 6%; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-158; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="width: 1%; text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="width: 1%; text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="width: 1%; text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">$</span></td><td style="width: 6%; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-159; font-family: Times New Roman, Times, Serif; font-size: 8pt">      -</span></td><td style="width: 1%; text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="width: 1%; text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="width: 1%; text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span>$</td><td style="width: 6%; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-160; font-family: Times New Roman, Times, Serif; font-size: 8pt">                 -</span></td><td style="width: 1%; text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="width: 1%; text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="width: 1%; text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">$</span></td><td style="width: 6%; text-transform: uppercase; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">(121,851</span></td><td style="width: 1%; text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">)</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">3,714,696</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -10pt; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Unsecured loan Consolidated BL Note 6.33% due 12/31/2027</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">$</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">1,381,586</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">87,454</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-161; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-162; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-163; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-164; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-165; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-166; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -10pt; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Common Stock – Series A <sup>(3)</sup></span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">225,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-167; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-168; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-169; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-170; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-171; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-172; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-173; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -10pt; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Common Stock – Series B <sup>(3)</sup></span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">9,500,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-174; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-175; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-176; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-177; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-178; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-179; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-180; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -10pt; padding-left: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Warrant for 250,000 Shares of Series A Common Stock, exercise price $0.01 per share, expires 1/1/2027<sup>(3)</sup></span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">1</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-181; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-182; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-183; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-184; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-185; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-186; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-187; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -10pt; padding-left: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Warrant for 700,000 Shares of Series A Common Stock, exercise price $0.01 per share, expires 1/1/2027<sup>(3)</sup></span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">1</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-188; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-189; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-190; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-191; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-192; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-193; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-194; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -10pt; padding-left: 10pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">PCC SBH Sub, Inc.</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -10pt; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Common Stock <sup>(3)</sup></span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">100</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-195; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">1,379,019</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-196; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-197; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-198; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">(494,677</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">)</span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">884,342</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -10pt; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">First lien Revolving Loan 10%, due 5/8/2026 <sup>(4)</sup></span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">135,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-199"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></div></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">80,000</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">55,000</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-200"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></div></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-201"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></div></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-202; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">135,000</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -10pt; padding-left: 10pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Rockfish Seafood Grill, Inc.</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -10pt; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">First Lien Loan, 8% Cash, 6.0% PIK, due 3/31/2018 <sup>(2) (3)</sup></span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">$</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">6,352,944</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-203; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">7,519,963</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-204; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-205; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-206; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">(2,499,187</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">)</span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">5,020,776</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -10pt; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Revolving Loan, 8% Cash, due 12/31/2027<sup>(3)</sup></span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">$</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">2,251,000</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">45,020</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">2,251,000</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-207; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-208; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-209; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">182,581</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">2,433,581</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -10pt; padding-left: 10pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Rockfish Holdings, LLC</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -10pt; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Warrant for Membership Interest, exercise price $0.001 per 1% membership interest, expires 7/28/2028 <sup>(3)</sup></span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">10.0</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">%</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-210; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-211; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-212; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-213; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-214; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-215; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-216; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -10pt; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Membership Interest – Class A <sup>(3)</sup></span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">99.997</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">%</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-217; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-218; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="padding-bottom: 1.5pt; text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-219; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="padding-bottom: 1.5pt; text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-220; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="padding-bottom: 1.5pt; text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-221; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-222; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-223; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="padding-bottom: 1.5pt; text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -10pt; padding-left: 10pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Total Control Investments</span></td><td style="padding-bottom: 2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="padding-bottom: 2pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="padding-bottom: 2pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="padding-bottom: 2pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; padding-bottom: 2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; text-transform: uppercase; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">132,474</span></td><td style="padding-bottom: 2pt; text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; padding-bottom: 2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; text-transform: uppercase; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">15,066,529</span></td><td style="padding-bottom: 2pt; text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; padding-bottom: 2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; text-transform: uppercase; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">55,000</span></td><td style="padding-bottom: 2pt; text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; padding-bottom: 2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-224; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="padding-bottom: 2pt; text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="padding-bottom: 2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="-sec-ix-hidden: hidden-fact-225; font-family: Times New Roman, Times, Serif; font-size: 8pt">-</span></td><td style="padding-bottom: 2pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td><td style="text-transform: uppercase; padding-bottom: 2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; text-transform: uppercase; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">(2,933,134</span></td><td style="padding-bottom: 2pt; text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">)</span></td><td style="text-transform: uppercase; padding-bottom: 2pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; text-transform: uppercase; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">12,188,395</span></td><td style="padding-bottom: 2pt; text-transform: uppercase; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The table below represents the fair value of control and affiliate investments at December 31, 2023 and any amortization, purchases, sales, and realized and change in unrealized gain (loss) made to such investments, as well as the ending fair value as of December 31, 2024.</span></p> <p style="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%; border-spacing: 0px;"> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: bold 8pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt"><b>Portfolio Company/Type of Investment<sup>(1)</sup></b></span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font: bold 8pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Principal Amount/Shares/ Ownership % at December 31, 2024</span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font: bold 8pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: center"><span style="font-size: 8pt">Amount of Interest and Dividends Credited in Income</span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font: bold 8pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: center"><span style="font-size: 8pt">Fair Value at December 31,<br/> 2023</span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font: bold 8pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><b>Purchases <sup>(2)</sup></b></span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font: bold 8pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: center"><span style="font-size: 8pt">Sales</span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font: bold 8pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: center"><span style="font-size: 8pt">Transfers from Restructuring/<br/> Transfers into Control Investments</span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font: bold 8pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: center"><span style="font-size: 8pt">Change in Unrealized Gains/(Losses)</span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font: bold 8pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: center"><span style="font-size: 8pt">Fair Value at<br/> December 31,<br/> 2024</span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: bold 8pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt"><span style="font-size: 8pt"><span style="text-decoration:underline">Control Investments</span></span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: bold 8pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt"><span style="font-size: 8pt">Advantis Certified Staffing Solutions, Inc.</span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 8pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt; width: 28%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Second Lien Loan, 12.0% Cash, due 11/30/2021<sup>(3)</sup></span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 6%; text-align: right"><span style="font-size: 8pt">4,500,000</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 6%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-226; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 6%; text-align: right"><span style="font-size: 8pt">4,736,141</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-transform: uppercase; text-align: left"><span style="font-size: 8pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 6%; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-227; font-size: 8pt">          -</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-transform: uppercase; text-align: left"><span style="font-size: 8pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 6%; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-228; font-size: 8pt">           -</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span>$</td><td style="font: 8pt Times New Roman, Times, Serif; width: 6%; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-229; font-size: 8pt">                -</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-transform: uppercase; text-align: left"><span style="font-size: 8pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 6%; text-transform: uppercase; text-align: right"><span style="font-size: 8pt">(899,594</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-transform: uppercase; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 6%; text-align: right"><span style="font-size: 8pt">3,836,547</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; "> <td style="font: 8pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt; text-align: left"><span style="-sec-ix-hidden: hidden-fact-236; font-size: 8pt">Unsecured loan Consolidated BL Note 6.33% due 12/31/2027</span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,381,586</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="font-size: 8pt">87,694</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-230; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-231; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-232; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-233; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-234; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-235; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 8pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Common Stock – Series A <sup>(3)</sup></span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">225,000</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-237; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-238; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-239; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-240; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-241; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-242; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-243; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; "> <td style="font: 8pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Common Stock – Series B <sup>(3)</sup></span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">9,500,000</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-244; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-245; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-246; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-247; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-248; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-249; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-250; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 8pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Warrant for 250,000 Shares of Series A Common Stock, exercise price $0.01 per share, expires 1/1/2027<sup>(3)</sup></span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-251; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-252; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-253; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-254; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-255; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-256; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-257; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; "> <td style="font: 8pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Warrant for 700,000 Shares of Series A Common Stock, exercise price $0.01 per share, expires 1/1/2027<sup>(3)</sup></span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-258; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-259; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-260; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-261; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-262; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-263; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-264; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 8pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt; text-align: left"><span style="font-size: 8pt">Dominion Medical Management, Inc.</span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; "> <td style="font: 8pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">First Lien Loan, 12.0% Cash, 6% PIK due, 3/31/2020 <sup>(2) (3)</sup></span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">1,516,144</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-265; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="font-size: 8pt">173,399</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-266; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="font-size: 8pt">(5,742,667</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-267; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="font-size: 8pt">5,569,268</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-268; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 8pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt; text-align: left"><span style="font-size: 8pt">Integrated Medical Partners, LLC</span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; "> <td style="font: 8pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Preferred Membership – Class A units <sup>(3)</sup></span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">800</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-269; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-270; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-271; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-272; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-273; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-274; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-275; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 8pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Preferred Membership – Class B units <sup>(3)</sup></span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">760</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-276; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-277; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-278; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-279; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-280; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-281; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-282; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; "> <td style="font: 8pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Common Units <sup>(3)</sup></span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">14,082</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-283; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-284; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-285; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-286; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-287; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-288; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-289; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 8pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt; text-align: left"><span style="font-size: 8pt">PCC SBH Sub, Inc.</span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; "> <td style="font: 8pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Common Stock <sup>(3)</sup></span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">100</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-290; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="font-size: 8pt">1,543,841</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-291; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-292; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-293; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="font-size: 8pt">(164,822</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="font-size: 8pt">1,379,019</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 8pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">First lien Revolving Loan 10%, due 5/8/2026 <sup>(4)</sup></span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">80,000</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><div style="-sec-ix-hidden: hidden-fact-294"><span style="font-size: 8pt"> </span></div></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-295; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="font-size: 8pt">80,000</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><div style="-sec-ix-hidden: hidden-fact-296"><span style="font-size: 8pt"> </span></div></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><div style="-sec-ix-hidden: hidden-fact-297"><span style="font-size: 8pt"> </span></div></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-298; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="font-size: 8pt">80,000</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; "> <td style="font: bold 8pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt; text-align: left"><span style="font-size: 8pt">Rockfish Seafood Grill, Inc.</span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 8pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">First Lien Loan, 8% Cash, 6.0% PIK, due 3/31/2018 <sup>(2) (3)</sup></span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">6,352,944</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-299; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="font-size: 8pt">9,877,041</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-300; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-301; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-302; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="font-size: 8pt">(2,357,078</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="font-size: 8pt">7,519,963</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; "> <td style="font: 8pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt; text-align: left"><span style="font-size: 8pt">Revolving Loan, 8% PIK, due 12/31/2027</span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">2,251,000</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">183,081</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="font-size: 8pt">2,251,000</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="font-size: 8pt">2,251,000</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 8pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt; text-align: left"><span style="font-size: 8pt">Rockfish Holdings, LLC</span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; "> <td style="font: 8pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt; text-align: left"><span style="font-size: 8pt">Warrant for Membership Interest, exercise price $0.001 per 1% membership interest, expires 7/28/2028<sup>(3)</sup></span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 8pt">10.0</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt">%</span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-303; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-304; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-305; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-306; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-307; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-308; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-309; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 8pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Membership Interest – Class A <sup>(3)</sup></span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"><span style="font-size: 8pt">99.997</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt">%</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-310; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-311; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-312; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-313; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-314; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-315; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-transform: uppercase; text-align: right"><span style="-sec-ix-hidden: hidden-fact-316; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; "> <td style="font: bold 8pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt; text-align: left"><span style="font-size: 8pt">Total Control Investments</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2pt"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; padding-bottom: 2pt"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 4pt double; text-transform: uppercase; text-align: left"><span style="font-size: 8pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 4pt double; text-transform: uppercase; text-align: right"><span style="font-size: 8pt">270,775</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2pt; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; padding-bottom: 2pt"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 4pt double; text-transform: uppercase; text-align: left"><span style="font-size: 8pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 4pt double; text-transform: uppercase; text-align: right"><span style="font-size: 8pt">18,581,422</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2pt; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; padding-bottom: 2pt"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 4pt double; text-transform: uppercase; text-align: left"><span style="font-size: 8pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 4pt double; text-transform: uppercase; text-align: right"><span style="font-size: 8pt">80,000</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2pt; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; padding-bottom: 2pt"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 4pt double; text-transform: uppercase; text-align: left"><span style="font-size: 8pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 4pt double; text-transform: uppercase; text-align: right"><span style="font-size: 8pt">(5,742,667</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2pt; text-transform: uppercase; text-align: left"><span style="font-size: 8pt">)</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2pt"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 4pt double; text-align: left"><span style="font-size: 8pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 4pt double; text-align: right"><span style="-sec-ix-hidden: hidden-fact-317; font-size: 8pt">-</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; padding-bottom: 2pt"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 4pt double; text-transform: uppercase; text-align: left"><span style="font-size: 8pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 4pt double; text-transform: uppercase; text-align: right"><span style="font-size: 8pt">2,147,774</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2pt; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-transform: uppercase; padding-bottom: 2pt"><span style="font-size: 8pt"> </span></td> <td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 4pt double; text-transform: uppercase; text-align: left"><span style="font-size: 8pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 4pt double; text-transform: uppercase; text-align: right"><span style="font-size: 8pt">15,066,529</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2pt; text-transform: uppercase; text-align: left"><span style="font-size: 8pt"> </span></td></tr> </table> 0.12 2021-11-30 4500000 3836547 -121851 3714696 0.0633 2027-12-31 1381586 87454 225000 9500000 250000 0.01 2027-01-01 1 700000 0.01 2027-01-01 1 100 1379019 -494677 884342 0.10 2026-05-08 135000 80000 55000 135000 0.08 0.06 2018-03-31 6352944 7519963 -2499187 5020776 0.08 2027-12-31 2251000 45020 2251000 182581 2433581 0.001 0.01 2028-07-28 10 99.997 132474 15066529 55000 -2933134 12188395 0.12 2021-11-30 4500000 4736141 -899594 3836547 0.0633 1381586 87694 225000 9500000 250000 0.01 2027-01-01 1 700000 0.01 2027-01-01 1 0.12 0.06 2020-03-31 1516144 173399 -5742667 5569268 800 760 14082 100 1543841 -164822 1379019 0.10 2026-05-08 80000 80000 80000 0.08 0.06 2018-03-31 6352944 9877041 -2357078 7519963 2251000 183081 2251000 2251000 0.001 0.01 2028-07-28 10 99.997 270775 18581422 80000 -5742667 2147774 15066529 false false false false NONE 0.040 0.04 http://fasb.org/srt/2025#ChiefExecutiveOfficerMember http://fasb.org/us-gaap/2025#IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate http://fasb.org/srt/2025#ChiefExecutiveOfficerMember 2024-12-31 0000845385 false FY Amounts under Due to Affiliates are for accrued amounts payable to the Company’s investment advisor, House Hanover, LLC for the reimbursement of administration fees that it incurs on the Company’s behalf (see Note 7). See Note 5 of the Notes to Financial Statements for a discussion of the methodologies used to value securities in the portfolio. Investment is on non-accrual status. Represents a security with a payment-in-kind component (“PIK”). At the option of the issuer, interest can be paid in cash or cash and PIK. The percentage of PIK shown is the maximum PIK that can be elected by the portfolio company. Investment is non-income producing as of December 31, 2025. Investment is non-income producing as of December 31, 2024. Represents an illiquid investment. At December 31, 2025, 100% of the total fair value of portfolio investments are illiquid. All of the Company’s portfolio investments are generally subject to restrictions on resale as “restricted securities.” Represents an illiquid investment. At December 31, 2024, 100% of the total fair value of portfolio investments are illiquid. All of the Company’s portfolio investments are generally subject to restrictions on resale as “restricted securities.” Represents an investment valued using significant unobservable inputs. Per share data based on weighted average shares outstanding. There were no changes in the valuation technique for the Company's investments from the prior quarter. The average represents the arithmetic average of the unobservable inputs and is not weighted by the relative fair value. Financial highlights are based on weighted average shares outstanding. Total return based on net asset value is based upon the change in net asset value per share between the opening and ending net asset values per share in the period. The total returns are not annualized. Represents an illiquid investment. Includes PIK interest. Non-income producing security.