v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
May 31, 2026
May 31, 2025
Operating activities    
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS $ (6,903,113) $ 13,932,263
FROM OPERATIONS TO NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES:    
Distributions from CLO, payment-in-kind and other adjustments to cost (677,848) (517,108)
Net accretion of discount on investments (813,693) (858,544)
Amortization of deferred debt financing costs 1,297,110 1,254,331
Income tax expense (benefit) (20,709) 50,004
Net realized (gain) loss from investments (150,207) (2,901,339)
Net change in unrealized (appreciation) depreciation on investments 15,177,131 (943,977)
Net change in provision for deferred taxes on unrealized (appreciation) depreciation on investments (530,824) 55,085
Proceeds from sales and repayments of investments 48,415,037 65,066,218
Purchases of investments (79,150,550) (50,085,463)
(Increase) decrease in operating assets:    
Interest receivable (1,734,807) (523,277)
Management fee receivable 16,883 19,886
Other assets (217,960) (419,072)
Increase (decrease) in operating liabilities:    
Base management and incentive fees payable 259,294 638,901
Payable from open trades 6,750,000
Accounts payable and accrued expenses (437,806) (120,229)
Interest and debt fees payable (498,291) 689,021
Directors fees payable (5,500)
Due to Manager 9,958 204,517
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES (25,965,895) 32,291,217
Financing activities    
Borrowings on debt 53,000,000 17,500,000
Issuance of notes 24,500,000
Repayments of notes (20,000,000)
Payments of deferred debt financing costs (1,713,358)
Proceeds from issuance of common stock 6,143,820
Capital contribution from Manager 297,770
Payments of cash dividends (10,797,683) (16,667,926)
Payments of offering costs (2,080)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES 64,988,959 (12,728,416)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS AND CASH AND CASH EQUIVALENTS, RESERVE ACCOUNTS 39,023,064 19,562,801
CASH AND CASH EQUIVALENTS AND CASH AND CASH EQUIVALENTS, RESERVE ACCOUNTS, BEGINNING OF PERIOD 21,785,753 204,723,924
CASH AND CASH EQUIVALENTS AND CASH AND CASH EQUIVALENTS, RESERVE ACCOUNTS, END OF PERIOD (See note 2) 60,808,817 224,286,725
Interest paid during the period 12,856,838 10,508,514
Cash paid for taxes 4,374 2,762
Payment-in-kind interest income and other adjustments to cost 677,848 721,477
Net accretion of discount on investments 813,693 858,544
Discount on debt issuance, 7.25% Notes Payable 2029 500,000
Amortization of deferred debt financing costs 1,297,110 1,254,331
Stock dividend distribution $ 1,386,544 $ 2,312,153