v3.26.1
Consolidated Statements of Assets and Liabilities - USD ($)
Dec. 31, 2025
Dec. 31, 2024
Jun. 30, 2024
Assets      
Total investments, at fair value $ 172,658,862 $ 191,616,958 $ 184,569,530
Cash and cash equivalents 4,582,403 771,483 158,768
Restricted cash and cash equivalents 10,416,042 11,333,064 4,950,036
Principal receivable 55,377 720,855 50,609
Interest receivable 808,703 1,576,381 1,301,516
Payment-in-kind interest receivable 190,790 85,399 66,625
Short-term receivable 0 160,901 0
Long-term receivable 0 489,365 631,667
Escrow receivable 0 0 97,173
Prepaid expenses and other assets 124,928 97,324 411,821
Total Assets 188,837,105 206,851,730 192,237,745
Debt:      
Revolving credit facility 58,900,000 58,500,000 43,000,000
2026 Notes payable 65,000,000 65,000,000 65,000,000
Deferred debt issuance costs (754,121) (1,369,415) (1,654,870)
Unamortized discount (17,778) (88,888) (124,443)
Debt, net 123,128,101 122,041,697 106,220,687
Payable for investments purchased 0 1,474,677 7,425,000
Interest payable 1,887,457 1,894,921 1,950,925
Dividend payable 0 1,728,749 0
Base management fees payable 786,986 769,176 816,777
Income-based incentive fees payable 351,571 501,955 128,876
Deferred income liability 440,084 0 0
Directors' fees payable 0 81,323 0
Accrued expenses and other liabilities 916,894 757,102 685,271
Total Liabilities 127,511,093 129,249,600 117,227,536
Commitments and Contingencies (see Note 6)
Net Assets      
Common stock, par value $0.001 per share (100,000,000 shares authorized and 14,432,472, 14,406,244, and 14,403,752 shares issued and outstanding, respectively) 14,432 14,406 14,404
Additional paid-in capital 203,128,982 203,505,480 203,103,263
Distributable earnings (loss) (141,817,402) (125,917,756) (128,107,458)
Total Net Assets 61,326,012 77,602,130 75,010,209
Total Liabilities and Net Assets $ 188,837,105 $ 206,851,730 $ 192,237,745
Net Asset Value Per Share $ 4.25 [1] $ 5.39 [2] $ 5.21 [2]
Non-controlled, non-affiliated investments      
Assets      
Total investments, at fair value $ 159,985,717 $ 188,602,029 $ 181,948,376
Affiliate Investments      
Assets      
Total investments, at fair value $ 12,673,145 $ 3,014,929 $ 2,621,154
[1] The per share data for dividends and distributions declared reflects the actual amount of the dividends and distributions declared per share during the period.
[2] All per share data activity is calculated based on the weighted average shares outstanding for the relevant period, except net increase (decrease) in net assets from capital share transactions, which is based on the common shares outstanding as of the relevant balance sheet date.