Quarterly report pursuant to Section 13 or 15(d)

Financial Highlights

Financial Highlights

9 Months Ended

Sep. 30, 2023

Investment Company, Financial Highlights [Abstract]

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.