v3.26.3
Consolidated Statement of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Operating Activities:    
Net income $ 747,560 $ 1,745
Adjustments to reconcile net income to net cash used in operating activities:    
Net amortization of discounts on residential mortgage loans (162,808) 0
Net realized gain on residential mortgage loans (48,383) 0
Net unrealized loss on residential mortgage loans, mortgage servicing rights investments and derivative contracts 107,383 0
Amortization of deferred financing costs 210,134 0
Net change in:    
Increase in receivables (885,828) 0
Increase in other assets (38,687) 0
Increase in due from related parties (1,260,660) 0
Increase in accounts payable and accrued liabilities 610,275 0
Increase in deferred tax liabilities, net 314,503 0
Net cash (used in) provided by operating activities (406,511) 1,745
Investing Activities:    
Purchases of residential mortgage loans (59,179,586) 0
Proceeds from residential mortgage loans 2,250,315 0
Purchases of mortgage servicing rights investments (9,223,645) 0
Distributions from mortgage servicing rights investments 3,500,000 0
Net cash used in investing activities (62,652,916) 0
Financing Activities:    
Private offering, net 40,114,700 200,000
Distributions paid, net of distributions reinvested (1,359,756) 0
Principal payments on repurchase agreement (1,324,386) 0
Borrowings under line of credit 6,700,000 0
Repayments of line of credit (6,700,000) 0
Proceeds from investments sold under agreement to repurchase 35,626,762 0
Deferred financing costs (533,426) 0
Net cash provided by financing activities 72,523,894 200,000
Net increase in cash 9,464,467 201,745
Cash, beginning of period 203,272 0
Cash, end of period 9,667,739 201,745
Supplemental disclosure of cash flow information and non-cash investing activities:    
Cash paid for interest 1,029,616 0
Investing in securities using a repurchase agreement 31,339,912 0
Amounts incurred but not paid (including amounts due to related parties):    
Payable for investments purchased $ (180,116) $ 0