v3.26.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
INVESTMENT INCOME    
Total Investment Income $ 731,963 $ 499,094
OPERATING EXPENSES    
Compensation expense 1,976,252 1,667,835
Directors’ fees 195,562 170,565
Interest expense 1,217,194 1,259,849
Professional fees 872,729 750,224
Income tax expense 57,558 2,796
Other expenses 391,160 309,594
Total Operating Expenses 4,710,455 4,160,863
Net Investment Loss (3,978,492) (3,661,769)
Realized Gain/(Loss) on Investments:    
Net Realized Gain/(Loss) on Investments 890,513 (17,951)
Realized loss on partial repurchase of 6.00% Notes due December 30, 2026 (15,873)
Change in Unrealized Appreciation/(Depreciation) of Investments:    
Net Change in Unrealized Appreciation/(Depreciation) of Investments 158,724,039 2,888,878
Net Change in Net Assets Resulting from Operations $ 155,636,060 $ (806,715)
Net Change in Net Assets Resulting from Operations per Common Share:    
Basic $ 6.13 $ (0.03)
Diluted [1] $ 5.18 $ (0.03)
Weighted-Average Common Shares Outstanding    
Basic 25,380,755 23,571,840
Diluted [1] 30,160,470 23,571,840
Non Controlled Non Affiliate Investments [Member]    
INVESTMENT INCOME    
Interest income [2] $ 388,213 $ 150,647
Dividend income 343,750 348,447
Realized Gain/(Loss) on Investments:    
Net Realized Gain/(Loss) on Investments 890,513 (17,951)
Change in Unrealized Appreciation/(Depreciation) of Investments:    
Net Change in Unrealized Appreciation/(Depreciation) of Investments 159,993,061 (5,248,885)
Non Controlled Affiliate Investments [Member]    
Change in Unrealized Appreciation/(Depreciation) of Investments:    
Net Change in Unrealized Appreciation/(Depreciation) of Investments (1,269,022) (472,713)
Controlled Investments [Member]    
Change in Unrealized Appreciation/(Depreciation) of Investments:    
Net Change in Unrealized Appreciation/(Depreciation) of Investments $ 8,610,476
[1] For the three months ended March 31, 2025, 4,516,131 potentially dilutive common shares were excluded from the weighted-average common shares outstanding for diluted net change in net assets resulting from operations per common share because the effect of these shares would have been anti-dilutive. Refer to “Note 6 — Net Change in Net Assets Resulting from Operations per Common Share — Basic and Diluted”.
[2] Includes interest income earned on cash.