v3.26.1
Consolidated Statements of Assets and Liabilities - USD ($)
Jun. 30, 2026
Dec. 31, 2025
Assets    
Total investments, at fair value $ 135,930,163 $ 172,658,862
Cash and cash equivalents 10,940,767 4,582,403
Restricted cash and cash equivalents 9,918,285 10,416,042
Receivable for investments sold 3,288,243 0
Principal receivable 35,303 55,377
Interest receivable 648,809 808,703
Payment-in-kind interest receivable 156,106 190,790
Prepaid expenses and other assets 484,426 124,928
Total Assets 161,402,102 188,837,105
Debt:    
Revolving credit facility 44,900,000 58,900,000
Deferred debt issuance costs (580,809) (754,121)
Unamortized discount (1,107,452) (17,778)
Debt, net 108,211,739 123,128,101
Interest payable 681,127 1,887,457
Payable for investments purchased 335,966 0
Base management fees payable 0 786,986
Income-based incentive fees payable 238,897 239,841
Deferred income liability 0 440,084
Directors' fees payable 118,403 0
Accrued expenses and other liabilities 2,124,197 2,924,580
Total Liabilities 111,710,329 129,407,049
Commitments and Contingencies (see Note 6)
Net Assets    
Common stock, par value $0.001 per share (100,000,000 shares authorized and 14,432,472 and 14,432,472 shares issued and outstanding, respectively) 14,432 14,432
Additional paid-in capital 203,128,982 203,128,982
Distributable earnings (loss) (153,451,641) (143,713,358)
Total Net Assets 49,691,773 [1] 59,430,056
Total Liabilities and Net Assets $ 161,402,102 $ 188,837,105
Net Asset Value Per Share [1] $ 3.44 [2] $ 4.12
2029 Notes payable    
Debt:    
Notes payable $ 65,000,000 $ 0
2026 Notes payable    
Debt:    
Notes payable 0 65,000,000
Non-Controlled, Non-Affiliated Investments    
Assets    
Total investments, at fair value 126,415,798 159,985,717
Non-Controlled, Affiliated Investments    
Assets    
Total investments, at fair value $ 9,514,365 $ 12,673,145
[1] All per share data activity is calculated based on the weighted average shares outstanding for the relevant period, except net increase (decrease) in net assets from capital share transactions, which is based on the common shares outstanding as of the relevant balance sheet date.
[2] The per share data for dividends and distributions declared reflects the actual amount of the dividends and distributions declared per share during the period.