Annual report pursuant to Section 13 and 15(d)

Statements of Operations

v3.24.1
Statements of Operations - USD ($)
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
INVESTMENT INCOME      
Interest income from non-control/non-affiliate investments $ 1,254,375 $ 684,375 $ 286,875
Interest income from control investments 1,050,876 827,954 465,455
Interest income paid-in-kind from control investments 97,401
Interest income paid-in-kind from non-control/ non-affiliate investments 166,339
Other income   24,000  
Total investment income 2,480,893 1,554,643 874,536
OPERATING EXPENSES      
Management fees 317,546 339,328 265,340
Administration fees 415,092 403,299 402,110
Audit fees 149,136 202,196 159,547
Legal fees (Note 2) 187,687 786,720 349,332
Valuation fees 90,000 121,500 132,000
Other professional fees 14,170 19,487
Directors’ fees 150,000 150,000 150,000
Insurance expense 151,193 184,311 160,260
Interest expense 207 4,896 188
Other general and administrative expenses 138,465 126,721 116,058
Total operating expenses 1,599,326 2,333,141 1,754,322
Net investment income (loss) before tax 881,567 (778,498) (879,786)
Income tax expense 64,993 456
Net investment income (loss) after taxes 816,574 (778,954) (879,786)
Net realized gain (loss) on:      
Non-control/non-affiliate investments (1,200) 4,368,297
Total net realized gain (loss) (1,200) 4,368,297
Net change in unrealized gain (loss) on investments:      
Non-control/non-affiliate investments (1,075,753) 7,173,601 4,404,498
Control investments 81,479 (4,116,019) 8,468,740
Net change in unrealized gain (loss) on investments (994,274) 3,057,582 12,873,238
Net realized and unrealized gain (loss) on investments (995,474) 7,425,879 12,873,238
Net increase (decrease) in net assets resulting from operations $ (178,900) $ 6,646,925 $ 11,993,452
Net investment income (loss) per share      
Basic (in Dollars per share) $ 0.007 $ (0.006) $ (0.007)
Diluted (in Dollars per share) 0.007 (0.006) (0.007)
Net increase (decrease) in net assets resulting from operations per share      
Basic (in Dollars per share) [1] (0.001) 0.055 0.1
Diluted (in Dollars per share) [1] $ (0.001) $ 0.055 $ 0.1
Weighted average shares of common stock outstanding      
Basic (in Shares) [1],[2] 120,486,061 120,486,061 120,486,061
Diluted (in Shares) [1] 120,486,061 120,486,061 120,486,061
Non-Control/Non-Affiliate Investments      
INVESTMENT INCOME      
Other income $ 8,140 $ 17,996 $ 24,060
Non-Investment Sources      
INVESTMENT INCOME      
Other income $ 1,163 $ 24,318 $ 745
[1] Per share data based on weighted average shares outstanding.
[2] Financial highlights are based on weighted average shares outstanding.