v3.26.1
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
 3 Months Ended 9 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Mar. 31, 2026
Mar. 31, 2025
Investment Income        
PIK interest income from non-control/non-affiliate investments $ 12,701 $ 189,903 $ 157,722 $ 356,889
Total Investment Income 1,830,954 2,462,221 6,052,073 6,923,586
Operating Expenses        
Interest expense and credit facility expenses (Note 10) 664,614 968,724 2,227,493 2,780,363
Base management fees (Note 4) 266,636 312,824 839,951 916,005
Administrator Costs (Note 4) 165,156 185,000 497,656 486,000
Transfer agent’s fees and expenses 84,528 88,932 195,814 241,378
General and administrative 74,897 44,611 145,802 94,527
Audit and tax expense 63,750 73,750 232,343 328,250
Offering costs 29,587 154,522 111,672 427,341
Legal expense 24,326 45,807 113,922 174,364
Insurance expense 23,134 30,572 58,006 94,387
Valuation services 5,570 13,581 29,844 43,468
Total Operating Expenses 1,402,198 1,918,323 4,452,503 5,586,083
Expense limitation reimbursement (Note 4) (737,584) (312,824) (2,225,010) (916,005)
Waiver of Administrator Costs (Note 4) (200,000) 0 (200,000) 0
Total Net Operating Expenses 464,614 1,605,499 2,027,493 4,670,078
Net Investment Income (Loss) before income taxes 1,366,340 856,722 4,024,580 2,253,508
Excise tax expense 0 0 26,328 0
Net Investment Income (Loss) 1,366,340 856,722 3,998,252 2,253,508
Net Realized Losses and Net Change in Unrealized Gains/(Losses) on Investments        
Net realized losses (1,257,763) (502,209) (3,159,340) (1,623,306)
Net change in unrealized gains/(losses) 1,256,861 (493,957) (3,386,538) (177,501)
Net Realized Losses and Net Change in Unrealized Losses on Investments (902) (996,166) (6,545,878) (1,800,807)
Extinguishment of debt 0 0 (495,849) 0
Net Increase/(Decrease) in Net Assets Resulting from Operations 1,365,438 (139,444) (3,043,475) 452,701
Non-Control/ Non-Affiliate Investments        
Investment Income        
Interest income from non-control/non-affiliate investments (excluding Paid-in-Kind ("PIK") interest income) 1,818,253 2,272,318 5,894,351 6,566,697
PIK interest income from non-control/non-affiliate investments $ 12,701 $ 189,903 $ 157,722 $ 356,889