Quarterly report pursuant to Section 13 or 15(d)

Financial Highlights

v3.23.3
Financial Highlights
9 Months Ended
Sep. 30, 2023
Investment Company, Financial Highlights [Abstract]  
FINANCIAL HIGHLIGHTS

NOTE 7 – FINANCIAL HIGHLIGHTS

 

    Three Months
Ended
    Three Months
Ended
 
    September 30,
2023
    September 30,
2022
 
    (Unaudited)     (Unaudited)  
Per Share Data (1):            
Net asset value at beginning of period   $ 0.278     $ 0.276  
Net investment income (loss)     0.001       (0.002 )
Change in unrealized gain (loss)     (0.007 )     0.060  
Net asset value at end of period   $ 0.272     $ 0.334  
Total return based on net asset value (2)     (2.2 )%     21.0 %
Weighted average shares outstanding for period, basic     120,486,061       120,486,061  
Ratio/Supplemental Data:                
Net assets at end of period   $ 32,758,699     $ 40,195,377  
Average net assets   $ 33,533,386     $ 33,288,189  
Ratio of net operating expenses to average net assets (3)     4.2 %     8.4 %
Ratio of net operating expenses excluding management fees, incentive fees, and interest expense to average net assets (3)     3.3 %     7.4 %
Ratio of net investment income (loss) to average net assets (3)     1.9 %     (3.2 )%
Ratio of net investment income (loss) to average net assets, excluding other income from non-investment sources (3)     1.9 %     (3.2 )%
Ratio of net increase (decrease) in net assets resulting from operations to average net assets (3)     (9.3 )%     83.2 %
Portfolio Turnover     0.0 %     0.0 %

 

    Nine Months
Ended
    Nine Months
Ended
 
    September 30,
2023
    September 30,
2022
 
    (Unaudited)     (Unaudited)  
Per Share Data (1):            
Net asset value at beginning of period   $ 0.266     $ 0.286  
Net investment income (loss)     0.006       (0.006 )
Change in unrealized gain (loss)     -       0.054  
Net asset value at end of period   $ 0.272     $ 0.334  
Total return based on net asset value (2)     2.3 %     16.8 %
Weighted average shares outstanding for period, basic     120,486,061       120,486,061  
Ratio/Supplemental Data:                
Net assets at end of period   $ 32,758,699     $ 40,195,377  
Average net assets   $ 32,238,403     $ 33,703,681  
Ratio of net operating expenses to average net assets (3)     5.0 %     7.3 %
Ratio of net operating expenses excluding management fees, incentive fees, and interest expense to average net assets (3)     4.0 %     6.3 %
Ratio of net investment income (loss) to average net assets (3)     3.1 %     (2.9 )%
Ratio of net investment income (loss) to average net assets, excluding other income from non-investment sources (3)     3.1 %     (2.9 )%
Ratio of net increase (decrease) in net assets resulting from operations to average net assets (3)     2.8 %     22.7 %
Portfolio Turnover     0.00 %     0.0 %

 

    Year Ended December 31,  
    2022     2021     2020     2019     2018  
Per Share Data (1):                              
Net asset value at beginning of period   $ 0.286     $ 0.187     $ 0.276     $ 0.345     $ 0.344  
Net investment income (loss)     (0.006 )     (0.007 )     (0.005 )     (0.009 )     0.009  
Change in unrealized gain (loss)     0.025       0.106       (0.022 )     (0.060 )     (0.007 )
Realized gain (loss)     0.036       -       (0.062 )     -       (0.001 )
Dividend distribution     (0.075 )     -       -       -       -  
Net asset value at end of period   $ 0.266     $ 0.286     $ 0.187     $ 0.276     $ 0.345  
Total return based on net asset value (2)     (7.0 )%     52.9 %     (32.60 )%     (20.0 )%     0.3  
Weighted average shares outstanding for period, basic     120,486,061       120,486,061       120,486,061       120,486,061       120,486,061  
Ratio/Supplemental Data:                                        
Net assets at end of period   $ 32,083,462     $ 34,472,992     $ 22,479,540     $ 33,280,329     $ 41,554,951  
Average net assets   $ 35,317,720     $ 29,126,862     $ 25,276,013     $ 38,504,249     $ 41,416,562  
Total operating expenses to average net assets     6.6 %     6.0 %     6.2 %     5.8 %     5.4 %
Net operating expenses to average net assets     6.6 %     6.0 %     6.2 %     5.8 %     5.4 %
Net operating expenses excluding management fees, incentive fees, and interest expense to average net assets     5.6 %     5.1 %     5.2 %     4.9 %     4.3 %
                                         
Net investment income (loss) to average net assets     (2.2 )%     (3.0 )%     (2.7 )%     (2.8 )%     2.5 %
Net investment income (loss) to average net assets, excluding other income from non-investment sources     (2.3 )%     (3.0 )%     (3.0 )%     (2.8 )%     2.5 %
                                         
Net increase (decrease) in net assets resulting from operations to average net assets     18.8 %     41.2 %     (42.7 )%     (21.5 )%     0.4 %
Portfolio Turnover     32.3 %     0.4 %     0.4 %     0.7 %     0.5 %

 

(1) Financial highlights are based on weighted average shares outstanding.
(2) Total return based on net asset value is based upon the change in net asset value per share between the opening and ending net asset values per share in the period. The total returns are not annualized.