v3.26.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Investment income:        
Total interest from portfolio companies $ 1,173,727 $ 1,514,562 $ 2,356,486 $ 3,191,728
Total interest from other investments 27 36,556 13,828 46,939
Total dividend and other investment income 152,513 0 152,513 13,125
Total fee income 68,152 51,179 111,441 358,409
Total investment income 1,394,419 1,602,297 2,634,268 3,610,201
Operating Expenses [Abstract]        
Base management fee (see Note 8) 205,153 217,649 394,848 469,857
Income based incentive fees (see Note 8) 0 0 0 119,673
Capital gains incentive fees (see Note 8) 0 (1,490,000) 0 (1,565,000)
Interest expense 72,476 25,417 102,086 61,903
Professional fees 124,194 142,020 347,816 350,862
Stockholders and office operating 104,559 103,349 165,828 194,112
Directors' fees 76,375 66,550 149,750 130,400
Administrative fees 52,500 50,250 103,200 99,000
Insurance 10,614 9,974 20,586 23,136
Corporate development 1,519 (2,493) 5,193 4,501
Bad debt expense 0 13,125 0 38,462
Total expenses 647,390 (864,159) 1,289,307 (73,094)
Net investment income before income taxes: 747,029 2,466,456 1,344,961 3,683,295
Income tax expense (benefit) 37,368 (11,778) 90,273 (13,054)
Net investment income 709,661 2,478,234 1,254,688 3,696,349
Net realized gain on sales and dispositions of investments:        
Net realized gain on sales and dispositions of investments 958,948 0 2,034,519 925,332
Net change in unrealized appreciation/ depreciation on investments:        
Change in unrealized appreciation/depreciation before income taxes (337,551) (10,312,214) (2,377,667) (11,610,598)
Deferred income tax benefit (35,220) (97,826) (87,269) (94,210)
Net change in unrealized appreciation/depreciation on investments (302,331) (10,214,388) (2,290,398) (11,516,388)
Net realized and unrealized gain (loss) on investments 656,617 (10,214,388) (255,879) (10,591,056)
Net increase (decrease) in net assets from operations $ 1,366,278 $ (7,736,154) $ 998,809 $ (6,894,707)
Weighted average shares outstanding, Basic 2,969,814 2,969,814 2,969,814 2,920,135
Weighted average shares outstanding, Diluted 2,969,814 2,969,814 2,969,814 2,920,135
Net increase (decrease) in net assets from operations per share, Basic $ 0.46 $ (2.6) $ 0.34 $ (2.36)
Net increase (decrease) in net assets from operations per share, Diluted $ 0.46 $ (2.6) $ 0.34 $ (2.36)
Control investments        
Investment income:        
Total interest from portfolio companies $ 7,621 $ 12,979 $ 16,517 $ 12,979
Total fee income 4,516 4,516 9,032 9,032
Net change in unrealized appreciation/ depreciation on investments:        
Change in unrealized appreciation/depreciation before income taxes 0 0 0 (875,000)
Affiliate investments        
Investment income:        
Total interest from portfolio companies 828,689 1,264,789 1,781,864 2,547,648
Total dividend and other investment income 152,513 0 152,513 13,125
Total fee income 53,871 42,891 88,872 174,646
Net realized gain on sales and dispositions of investments:        
Net realized gain on sales and dispositions of investments 958,948 0 2,034,519 925,357
Net change in unrealized appreciation/ depreciation on investments:        
Change in unrealized appreciation/depreciation before income taxes (1,887,551) (10,122,270) (3,927,667) (10,545,654)
Non-Control/Non-Affiliate investments        
Investment income:        
Total interest from portfolio companies 337,417 236,794 558,105 631,101
Total interest from other investments 27 36,556 13,828 46,939
Total fee income 9,765 3,772 13,537 174,731
Net realized gain on sales and dispositions of investments:        
Net realized gain on sales and dispositions of investments 0 0 (0) (25)
Net change in unrealized appreciation/ depreciation on investments:        
Change in unrealized appreciation/depreciation before income taxes $ 1,550,000 $ (189,944) $ 1,550,000 $ (189,944)