Consolidated Statements of Operations (Unaudited) - USD ($) |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2026 |
Sep. 30, 2025 |
Sep. 30, 2026 |
Sep. 30, 2025 |
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| Revenue: | ||||
| Interest income from loans | $ 1,661,896 | $ 1,770,377 | $ 5,099,291 | $ 5,503,694 |
| Origination fees | 391,662 | 265,376 | 1,067,114 | 1,161,008 |
| Total revenue | 2,053,558 | 2,035,753 | 6,166,405 | 6,664,702 |
| Operating costs and expenses: | ||||
| Interest and amortization of deferred financing costs | 369,477 | 421,980 | 1,131,684 | 1,379,595 |
| Referral fees | 2,844 | 2,575 | 8,455 | 4,242 |
| General and administrative expenses | 447,275 | 413,518 | 1,373,033 | 1,304,873 |
| Total operating costs and expenses | 819,596 | 838,073 | 2,513,172 | 2,688,710 |
| Income from operations | 1,233,962 | 1,197,680 | 3,653,233 | 3,975,992 |
| Other income | 4,500 | 4,500 | 13,500 | 13,500 |
| Income before income tax expense | 1,238,462 | 1,202,180 | 3,666,733 | 3,989,492 |
| Income tax expense | (1,300) | (1,210) | ||
| Net income | $ 1,238,462 | $ 1,202,180 | $ 3,665,433 | $ 3,988,282 |
| Basic and diluted net income per common share outstanding: | ||||
| —Basic | $ 0.11 | $ 0.11 | $ 0.32 | $ 0.35 |
| —Diluted | $ 0.11 | $ 0.11 | $ 0.32 | $ 0.35 |
| Weighted average number of common shares outstanding: | ||||
| —Basic | 11,410,412 | 11,438,651 | 11,422,745 | 11,438,651 |
| —Diluted | 11,410,412 | 11,438,651 | 11,422,745 | 11,438,651 |
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- Definition Interest and amortization of deferred financing costs. No definition available.
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- Definition Origination fees. No definition available.
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- Definition Referral fees. No definition available.
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- References No definition available.
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate interest and fee income generated by: (1) loans the Entity has positive intent and ability to hold for the foreseeable future, or until maturity or payoff, including commercial and consumer loans, whether domestic or foreign, which may consist of: (a) industrial and agricultural; (b) real estate; and (c) real estate construction loans; (d) trade financing; (e) lease financing; (f) home equity lines-of-credit; (g) automobile and other vehicle loans; and (h) credit card and other revolving-type loans and (2) loans and leases held-for-sale which may include mortgage loans, direct financing, and sales-type leases. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Excludes Selling, General and Administrative Expense. No definition available.
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- References No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of income related to nonoperating activities, classified as other. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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