Fair Value of Investments (Tables)

6 Months Ended

Jun. 30, 2026

Fair Value of Investments [Abstract]

Schedule of Fair Value Hierarchy

The following tables present the fair value hierarchy of the Company’s investments as of June 30, 2026 and December 31, 2025:

		Fair Value Hierarchy as of June 30, 2026
Description		Level 1				Level 2				Level 3				Total
Corporate Bond Investments		$	-			$	29,520,346			$	-			$	29,520,346
Senior Secured Loan Debt Investments			-				11,257,909				43,350,637				54,608,546
Equity Investments - Preferred Stock			-				-				3,938,257				3,938,257
Short Term Investment - Money Market Funds			14,045,778				-				-				14,045,778
Warrants			-				-				256,052				256,052
Total		$	14,045,778			$	40,778,255			$	47,544,946			$	102,368,979

		Fair Value Hierarchy as of December 31, 2025
Description		Level 1				Level 2				Level 3				Total
Corporate Bond Investments		$	-			$	41,486,860			$	-			$	41,486,860
Senior Secured Loan Debt Investments			-				12,764,068				30,580,558				43,344,626
Equity Investments - Preferred Stock			-				-				3,197,792				3,197,792
Money Market Funds			6,217,008				-				-				6,217,008
Warrants			-				-				8,102				8,102
Total		$	6,217,008			$	54,250,928			$	33,786,452			$	94,254,388

Schedule of Changes in the Fair Value of Investments

The following tables present changes in the fair value of the Company’s investments for which Level 3 inputs were used to determine the fair value of such investments as of and for the six months ended June 30, 2026 and 2025:

		For the six months ended June 30,
Senior Secured Loan Debt Investments		2026				2025
Fair value, beginning of period		$	30,580,558			$	12,316,326
Purchases of investments			13,866,444				16,013,270
Proceeds from principal pre-payments and sales of investments			(2,338,019	)			(145,092	)
Net realized gain (loss)			84,184				2,354
Net change in unrealized appreciation/(depreciation)			78,485				146,570
Net accretion of discount (amortization of discount) on investments			(42,808	)			84,476
Payment-in-kind interest			144,243				55,824
Transfers into (out of) Level 3⁽¹⁾			977,550				-
Fair value, end of period		$	43,350,637			$	28,473,728

(1)	During the six months ended June 30, 2026, transfers into and out of Level 3 were attributable to the observability of market data and resulted from decreases in liquidity, security restructurings, reclassification, or corporate actions.

		For the six months ended June 30,
Equity Investments - Preferred Stock		2026				2025
Fair value, beginning of period		$	3,197,792			$	2,238,363
Purchases of investments			648,000				984,960
Proceeds from sales of investments			-				-
Net realized gain (loss)			-				-
Net change in unrealized appreciation/(depreciation)			92,465				295,051
Transfers into (out of) Level 3			-				-
Fair value, end of period		$	3,938,257			$	3,518,374

		For the six months ended June 30,
Warrants		2026				2025
Fair value, beginning of period		$	8,102			$	-
Purchases of investments			-				-
Proceeds from sales of investments			-				-
Net realized gain (loss)			-				-
Net change in unrealized appreciation/(depreciation)			247,950				-
Transfers into (out of) Level 3			-				-
Fair value, end of period		$	256,052			$	-

Schedule of Net Change in Unrealized Appreciation (Depreciation)

The following table presents the net change in unrealized appreciation/(depreciation) of the Company’s investments for the respective periods relating to these Level 3 assets that were still held by the Company as of and for the six months ended June 30, 2026 and 2025:

		For the six months ended June 30,
Net Change in Unrealized Appreciation/(Depreciation)		2026				2025
Senior Secured Loan Debt Investments		$	78,485			$	146,570
Equity Investments - Preferred Stock			92,465				295,051
Warrants			247,950				-
Total		$	418,900			$	441,621

Schedule of Information about Significant Unobservable Inputs of Investments

The following tables present quantitative information about the significant unobservable inputs of the Company’s Level 3 investments as of June 30, 2026 and December 31, 2025. The tables are not intended to be all-inclusive, but instead capture the significant unobservable inputs relevant to the Adviser’s determination of fair value.

Fair Value
as of
June 30,
2026

Valuation Technique

Unobservable Input

Range/Input

Weighted
Average
Inputs

Senior Secured Loan Debt Investments (Non-Liquid)⁽¹⁾

$

36,856,833

Discounted cash flow

Discount rate

6.22% - 10.98

%

8.63

%

Senior Secured Loan Investments (Non-Liquid)⁽¹⁾

$

4,534,417

Recent Transaction Price⁽³⁾

N/A

N/A

N/A

Senior Secured Loan Debt Investments (Non-Liquid)⁽¹⁾

$

1,959,387

Comparable Transaction Price⁽¹⁾

N/A

N/A

N/A

Equity Investments - Preferred Stock

$

3,290,257

Market approach

EBITDA multiples

5.25x - 9.15x

7.78x

 

Equity Investments - Preferred Stock

$

648,000

Comparable Transaction Price⁽³⁾

N/A

N/A

N/A

Equity Investments - Warrants

$

256,052

Market approach

EBITDA multiples

9.15x

9.15x

 

Total

$

47,544,946

(1)	Privately held assets without available third-party pricing or trading information.

(2)	Based on private transaction price of comparable security.

(3)	Transaction price consists of securities recently purchased. The Company determined that there was no change to the valuation based on the underlying assumptions used at the closing of such transactions.

Fair Value
as of
December 31, 2025

Valuation
Technique

Unobservable
Input

Range/Input

Weighted
Average
Inputs

Senior Secured Loan Debt Investments (Non-Liquid)⁽¹⁾

$

30,580,558

Discounted cash flow

Discount rate

7.41% – 11.10

%

9.24

%

Equity Investments - Preferred Stock

$

3,197,792

Market approach

EBITDA multiples

5.36x – 7.85x

7.05x

 

Equity Investments - Warrants

$

8,102

Market approach

EBITDA multiples

7.85x

7.85x

Total

$

33,786,452

(1)	Privately held assets without available third-party pricing or trading information.

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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