Annual report pursuant to Section 13 and 15(d)

Schedule of investments (Unaudited)

v3.23.1
Schedule of investments (Unaudited) - USD ($)
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Fair Value $ 30,564,088 $ 34,307,092
Principal Amount $ 0 $ 97,401
% of Net Assets 95.26% 99.52%
Non-control/non-affiliate investments [Member]    
Fair Value [1] $ 12,064,145  
Amortized Cost $ 11,882,290  
% of Net Assets 37.60%  
Total Portfolio Investments [Member]    
Fair Value [1] $ 30,564,088  
Amortized Cost $ 39,235,563  
% of Net Assets 95.26%  
Total Investments [Member]    
Fair Value [1] $ 30,564,088  
Amortized Cost $ 39,235,563  
% of Net Assets 95.26%  
Control investments [Member]    
Fair Value [1] $ 18,499,943 $ 22,615,962
Amortized Cost $ 27,353,273 $ 27,353,273
% of Net Assets 57.66% 65.61%
Non-control/non-affiliate investments [Member]    
Fair Value [1]   $ 11,691,130
Amortized Cost   $ 18,682,876
% of Net Assets   33.91%
Total Portfolio Investments [Member]    
Fair Value [1]   $ 34,307,092
Amortized Cost   $ 46,036,149
% of Net Assets   99.52%
Total Investments [Member]    
Fair Value [1]   $ 34,307,092
Amortized Cost   $ 46,036,149
% of Net Assets   99.52%
Advantis Certified Staffing Solutions, Inc. [Member] | Control investments [Member]    
Fair Value [1] $ 3,656,647 $ 4,441,765
Amortized Cost $ 6,331,585 $ 6,331,585
% of Net Assets 11.40% 12.89%
Advantis Certified Staffing Solutions, Inc. [Member] | Control investments [Member] | Second Lien Loan [Member]    
Fair Value [1],[3],[4] $ 3,656,647 [2] $ 4,441,765 [5]
Acquisition Date [3],[4] Mar. 13, 2015 [2] Mar. 13, 2015 [5]
Amortized Cost [3],[4] $ 4,500,000 [2] $ 4,500,000 [5]
Principal Amount [3],[4],[6],[7] $ 4,500,000 [2] $ 4,500,000 [5]
% of Net Assets [3],[4] 11.40% [2] 12.89% [5]
Advantis Certified Staffing Solutions, Inc. [Member] | Control investments [Member] | Unsecured Loans [Member]    
Fair Value [1],[4]
Acquisition Date [4] Oct. 01, 2019 Oct. 01, 2019
Amortized Cost [4] $ 1,381,586 $ 1,381,586
Principal Amount [4],[7] $ 1,381,586 $ 1,381,586
% of Net Assets [4]
Advantis Certified Staffing Solutions, Inc. [Member] | Control investments [Member] | Common Stock – Series A [Member]    
Fair Value [1],[4] [2] [5]
Acquisition Date [4] Jul. 02, 2017 [2] Jul. 02, 2017 [5]
Amortized Cost [4] $ 10,150 [2] $ 10,150 [5]
% of Net Assets [4] [2] [5]
Number of Shares (in Shares) [4],[6],[7] 225,000 [2] 225,000 [5]
Advantis Certified Staffing Solutions, Inc. [Member] | Control investments [Member] | Common Stock – Series B [Member]    
Fair Value [1],[4] [2] [5]
Acquisition Date [4] Jul. 02, 2017 [2] Jul. 02, 2017 [5]
Amortized Cost [4] $ 428,571 [2] $ 428,571 [5]
% of Net Assets [4] [2] [5]
Number of Shares (in Shares) [4],[6],[7] 9,500,000 [2] 9,500,000 [5]
Advantis Certified Staffing Solutions, Inc. [Member] | Control investments [Member] | Warrant [Member]    
Fair Value [1],[4] [2] [5]
Acquisition Date [4] Jul. 02, 2017 [2] Jul. 02, 2017 [5]
Amortized Cost [4] $ 11,278 [2] $ 11,278 [5]
% of Net Assets [4] [2] [5]
Number of Shares (in Shares) [4],[6],[7] 1 [2] 1 [5]
Advantis Certified Staffing Solutions, Inc. [Member] | Control investments [Member] | Warrant One [Member]    
Fair Value [1],[4] [2] [5]
Acquisition Date [4] Dec. 31, 2016 [2] Dec. 31, 2016 [5]
Amortized Cost [4] [2] [5]
% of Net Assets [4] [2] [5]
Number of Shares (in Shares) [4],[6],[7] 1 [2] 1 [5]
Dominion Medical Management, Inc. [Member] | Control investments [Member] | Second Lien Loan [Member]    
Fair Value [1],[3],[4],[5],[8]   $ 158,159
Acquisition Date [3],[4],[5],[8]   Mar. 22, 2018
Amortized Cost [3],[4],[5],[8]   $ 1,516,144
Principal Amount [3],[4],[5],[6],[7],[8],[9]   $ 1,516,144
% of Net Assets [3],[4],[5],[8]   0.46%
Dominion Medical Management, Inc. [Member] | Control investments [Member] | First Lien Loans [Member]    
Fair Value [2],[3],[4],[8] $ 184,999  
Acquisition Date [2],[3],[4],[8] Mar. 22, 2018  
Amortized Cost [2],[3],[4],[8] $ 1,516,144  
Principal Amount [2],[3],[4],[6],[7],[8],[9] $ 1,516,144  
% of Net Assets [2],[3],[4],[8] 0.58%  
Integrated Medical Partners, LLC [Member] | Control investments [Member]    
Fair Value [1] $ 184,999 $ 158,159
Amortized Cost $ 5,742,667 $ 5,742,667
% of Net Assets 0.58% 0.46%
Integrated Medical Partners, LLC [Member] | Control investments [Member] | Preferred Membership, Class A units [Member]    
Fair Value [1],[4] [2] [5]
Acquisition Date [4] Mar. 13, 2015 [2] Mar. 13, 2015 [5]
Amortized Cost [4] $ 4,196,937 [2] $ 4,196,937 [5]
% of Net Assets [4] [2] [5]
Number of Shares (in Shares) [4],[6],[7] 800 [2] 800 [5]
Integrated Medical Partners, LLC [Member] | Control investments [Member] | Preferred Membership, Class B units [Member]    
Fair Value [1],[4] [2] [5]
Acquisition Date [4] Mar. 13, 2015 [2] Mar. 13, 2015 [5]
Amortized Cost [4] $ 29,586 [2] $ 29,586 [5]
% of Net Assets [4] [2] [5]
Number of Shares (in Shares) [4],[6],[7] 760 [2] 760 [5]
Integrated Medical Partners, LLC [Member] | Control investments [Member] | Common Units [Member]    
Fair Value [1],[4] [2] [5]
Acquisition Date [4] Mar. 13, 2015 [2] Mar. 13, 2015 [5]
Amortized Cost [4] [2] [5]
% of Net Assets [4] [2] [5]
Number of Shares (in Shares) [4],[6],[7] 14,082 [2] 14,082 [5]
PCC SBH Sub, Inc. [Member] | Control investments [Member] | Common Stock [Member]    
Fair Value [1],[4] $ 1,698,329 [2] $ 1,745,113 [5]
Acquisition Date [4] Feb. 06, 2017 [2] Feb. 06, 2017 [5]
Amortized Cost [4] $ 2,525,481 [2] $ 2,525,481 [5]
% of Net Assets [4] 5.29% [2] 5.06% [5]
Number of Shares (in Shares) [4],[6],[7] 100 [2] 100 [5]
Rockfish Seafood Grill, Inc. [Member] | Control investments [Member] | First Lien Loans [Member]    
Fair Value [1],[4],[8] $ 10,708,968 $ 12,294,480 [3],[5]
Acquisition Date [4],[8] Mar. 13, 2015 Mar. 13, 2015 [3],[5]
Amortized Cost [4],[8] $ 6,352,944 $ 6,352,944 [3],[5]
Principal Amount [4],[7],[8] $ 6,352,944 $ 6,352,944 [3],[5],[6]
% of Net Assets [4],[8] 33.38% 35.66% [3],[5]
Rockfish Seafood Grill, Inc. [Member] | Control investments [Member] | Revolving Loan [Member]    
Fair Value [1],[4] $ 2,251,000 $ 2,251,000
Acquisition Date [4] Jun. 29, 2015 Jun. 29, 2015
Amortized Cost [4] $ 2,251,000 $ 2,251,000
Principal Amount [4] $ 2,251,000 [7] $ 2,251,000
% of Net Assets [4] 7.01% 6.53%
Rockfish Holdings, LLC [Member] | Control investments [Member]    
Fair Value [1] $ 16,270,925
Amortized Cost $ 4,149,596 $ 12,753,540
% of Net Assets 47.20%
Rockfish Holdings, LLC [Member] | Control investments [Member] | Warrant for Membership Interest [Member]    
Fair Value [1],[4] [2] $ 172,549 [5]
Acquisition Date [4] Mar. 13, 2015 [2] Mar. 13, 2015 [5]
Amortized Cost [4] $ 414,960 [2] $ 414,960 [5]
% of Net Assets [4] [2] 0.50% [5]
Percentage of Ownership [4] 10.00% [2] 10.00% [5]
Rockfish Holdings, LLC [Member] | Control investments [Member] | Membership Interest – Class A [Member]    
Fair Value [1],[4] [2] $ 1,552,896 [5]
Acquisition Date [4] Mar. 13, 2015 [2] Mar. 13, 2015 [5]
Amortized Cost [4] $ 3,734,636 [2] $ 3,734,636 [5]
% of Net Assets [4] [2] 4.51% [5]
Percentage of Ownership [4] 99.997% [2] 99.997% [5]
Performance Alloys, LLC [Member] | Non-control/non-affiliate investments [Member]    
Fair Value [1] $ 12,062,945 $ 6,835,210
Amortized Cost $ 11,881,090 $ 11,881,090
% of Net Assets 37.60% 19.83%
Performance Alloys, LLC [Member] | Non-control/non-affiliate investments [Member] | Second Lien Loan [Member]    
Fair Value [1],[4] $ 7,320,000 $ 6,835,210
Acquisition Date [4] Jul. 01, 2016 Jul. 01, 2016
Amortized Cost [4] $ 6,750,000 $ 6,750,000
Principal Amount [4] $ 6,750,000 $ 6,750,000
% of Net Assets [4] 22.82% 19.83%
Performance Alloys, LLC [Member] | Non-control/non-affiliate investments [Member] | Membership Interest – Class B [Member]    
Fair Value [1],[4] $ 4,742,945 [2] [5]
Acquisition Date [4] Jul. 01, 2016 [2] Jul. 01, 2016 [5]
Amortized Cost [4] $ 5,131,090 [2] $ 5,131,090 [5]
% of Net Assets [4] 14.78% [2] [5]
Percentage of Ownership [4] 25.97% [2] 25.97% [5]
Rampart Detection Systems, Ltd. [Member] | Non-control/non-affiliate investments [Member] | Common Stock Shares [Member]    
Fair Value [1],[10] $ 1,200 [2] $ 1,200 [5]
Acquisition Date [10] Mar. 13, 2015 [2] Mar. 13, 2015 [5]
Amortized Cost [10] $ 1,200 [2] $ 1,200 [5]
% of Net Assets [10] [2] [5]
Number of Shares (in Shares) [10] 600,000 [2] 600,000 [5]
Great Value Storage, LLC [Member] | Non-control/non-affiliate investments [Member] | First Lien Loans [Member]    
Fair Value [1],[3],[4],[5],[8],[11]   $ 4,854,720
Acquisition Date [3],[4],[5],[8],[11]   Mar. 13, 2015
Amortized Cost [3],[4],[5],[8],[11]   $ 6,800,586
Principal Amount [3],[4],[5],[8],[11]   $ 6,800,586
% of Net Assets [3],[4],[5],[8],[11]   14.08%
[1] See Note 5 of the Notes to Financial Statements for a discussion of the methodologies used to value securities in the portfolio.
[2] Investment is non-income producing as of December 31, 2022.
[3] Investment is on non-accrual status.
[4] Represents an investment valued using significant unobservable inputs.
[5] Investment is non-income producing as of December 31, 2021.
[6] Non-income producing security.
[7] Represents an illiquid investment.
[8] Represents a security with a payment-in-kind component (“PIK”). At the option of the issuer, interest can be paid in cash or cash and PIK. The percentage of PIK shown is the maximum PIK that can be elected by the portfolio company.
[9] Includes PIK interest.
[10] The investment in Rampart Detection Systems, Ltd does not represent a “qualifying asset” under Section 55(a) of the 1940 Act as the principal place of business is in British Columbia, Canada. As of December 31, 2022, less than 1% of the total fair value of investments represents non-qualifying assets.
[11] On March 14, 2019, the Company filed a lawsuit against Great Value Storage, LLC due to a breach of contract. See Note 8 of the Notes to Financial Statements. The Company has not received financial statements since August 2018.