Annual report pursuant to Section 13 and 15(d)

Statements of Assets and Liabilities

v3.24.1
Statements of Assets and Liabilities - USD ($)
Dec. 31, 2023
Dec. 31, 2022
ASSETS    
Total investments at fair value $ 29,734,953 $ 30,564,088
Cash and cash equivalents 1,937,768 1,525,723
Restricted cash 41,891 40,823
Interest receivable, net of allowance for bad debt of $16,549 and $16,549, respectively 525,685 293,621
Prepaid expenses 47,306 35,552
Total assets 32,314,195 32,486,149
LIABILITIES    
Accrued management fees 78,889 91,934
Accounts payable 159,472 180,096
Taxes expense payable 64,537
Accrued expenses and other liabilities 41,860 65,782
Total liabilities 409,633 402,687
Net assets 31,904,562 32,083,462
NET ASSETS    
Common Stock, par value $0.001 per share (250,000,000 shares authorized; 120,486,061 shares issued and outstanding at December 31, 2023 and December 31, 2022) 120,486 120,486
Paid-in capital 64,868,884 64,868,884
Accumulated deficit (33,084,808) (32,905,908)
Total net assets $ 31,904,562 $ 32,083,462
Net asset value per share (in Dollars per share) $ 0.265 $ 0.266
Control Investments    
ASSETS    
Total investments at fair value $ 18,581,422 $ 18,499,943
Non-Control/Non-Affiliate Investments    
ASSETS    
Total investments at fair value 11,153,531 12,064,145
Related Party    
ASSETS    
Due from portfolio companies 26,592 26,342
LIABILITIES    
Due to affiliates [1] $ 64,875 $ 64,875
[1] Amounts under Due to Affiliates are for accrued amounts payable to the Company’s investment advisor, House Hanover, LLC for the reimbursement of administration fees that it incurs on the Company’s behalf. See Note 7 of the Notes to Financial Statements.