Annual report pursuant to Section 13 and 15(d)

Financial Highlights

v3.23.1
Financial Highlights
12 Months Ended
Dec. 31, 2022
Investment Company, Financial Highlights [Abstract]  
FINANCIAL HIGHLIGHTS

NOTE 8 – FINANCIAL HIGHLIGHTS

 

    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.