| Schedule of Financial Highlights |
| |
|
Three Months
Ended
|
|
|
Three Months
Ended |
|
| |
|
March 31,
2026 |
|
|
March 31,
2025 |
|
| |
|
(Unaudited) |
|
|
(Unaudited) |
|
| Per Share Data (1): |
|
|
|
|
|
|
| Net asset value at beginning of period |
|
$ |
0.118 |
|
|
$ |
0.175 |
|
| Net investment gain (loss) |
|
|
(0.002 |
) |
|
|
(0.003 |
) |
| Change in unrealized gain (loss) |
|
|
(0.003 |
) |
|
|
(0.014 |
) |
| Net asset value at end of period |
|
$ |
0.113 |
|
|
$ |
0.158 |
|
| Total return based on net asset value (2) |
|
|
(4.24 |
)% |
|
|
(9.7 |
)% |
| Weighted average shares outstanding for period, basic |
|
|
120,486,061 |
|
|
|
120,486,061 |
|
| Ratio/Supplemental Data: |
|
|
|
|
|
|
|
|
| Net assets at end of period |
|
$ |
13,630,522 |
|
|
$ |
18,993,097 |
|
| Average net assets |
|
$ |
14,255,973 |
|
|
$ |
21,020,486 |
|
| Ratio of net operating expenses to average net assets (3) |
|
|
10.0 |
% |
|
|
8.1 |
% |
| Ratio of net operating expenses excluding management fees, incentive fees, and interest expense to average net assets (3) |
|
|
8.9 |
% |
|
|
7.2 |
% |
| Ratio of net investment income (loss) to average net assets (3) |
|
|
(7.9 |
)% |
|
|
(6.7 |
)% |
| Ratio of net investment income (loss) to average net assets, excluding other income from non-investment sources (3) |
|
|
(7.9 |
)% |
|
|
(6.7 |
)% |
| Ratio of net increase (decrease) in net assets resulting from operations to average net assets (3) |
|
|
(18.0 |
)% |
|
|
(39.6 |
)% |
| Portfolio Turnover |
|
|
0.0 |
% |
|
|
0.0 |
% |
| |
|
2025 |
|
|
2024 |
|
|
2023 |
|
|
2022 |
|
|
2021 |
|
| Per Share Data (1): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net asset value at beginning of period |
|
$ |
0.175 |
|
|
$ |
0.265 |
|
|
$ |
0.266 |
|
|
$ |
0.286 |
|
|
$ |
0.187 |
|
| Net investment income (loss) |
|
|
(0.015 |
) |
|
|
(0.001 |
) |
|
|
0.007 |
|
|
|
(0.006 |
) |
|
|
(0.007 |
) |
| Change in unrealized gain (loss) |
|
|
(0.042 |
) |
|
|
(0.043 |
) |
|
|
(0.008 |
) |
|
|
0.025 |
|
|
|
0.106 |
|
| Realized gain (loss) |
|
|
- |
|
|
|
(0.046 |
) |
|
|
- |
|
|
|
0.036 |
|
|
|
- |
|
| Dividend distribution |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(0.075 |
) |
|
|
- |
|
| Net asset value at end of period |
|
$ |
0.118 |
|
|
$ |
0.175 |
|
|
$ |
0.265 |
|
|
$ |
0.266 |
|
|
$ |
0.286 |
|
| Total return based on net asset value (2) |
|
|
(32.6 |
)% |
|
|
(34.0 |
)% |
|
|
(0.4 |
)% |
|
|
(7.0 |
)% |
|
|
52.9 |
% |
| 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 |
|
$ |
14,263,001 |
|
|
$ |
21,043,266 |
|
|
$ |
31,904,562 |
|
|
$ |
32,083,462 |
|
|
$ |
34,472,992 |
|
| Average net assets |
|
$ |
18,965,398 |
|
|
$ |
26,066,545 |
|
|
$ |
32,367,368 |
|
|
$ |
35,317,720 |
|
|
$ |
29,126,862 |
|
| Total operating expenses to average net assets |
|
|
10.1 |
% |
|
|
5.8 |
% |
|
|
4.9 |
% |
|
|
6.6 |
% |
|
|
6.0 |
% |
| Net operating expenses to average net assets |
|
|
10.1 |
% |
|
|
5.8 |
% |
|
|
4.9 |
% |
|
|
6.6 |
% |
|
|
6.0 |
% |
| Net operating expenses excluding management fees, incentive fees, and interest expense to average net assets |
|
|
9.1 |
% |
|
|
4.8 |
% |
|
|
4.0 |
% |
|
|
5.6 |
% |
|
|
5.1 |
% |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net investment income (loss) to average net assets |
|
|
(9.3 |
)% |
|
|
(0.5 |
)% |
|
|
2.5 |
% |
|
|
(2.2 |
)% |
|
|
(3.0 |
)% |
| Net investment income (loss) to average net assets, excluding other income from non-investment sources |
|
|
(9.3 |
)% |
|
|
(0.9 |
)% |
|
|
2.5 |
% |
|
|
(2.3 |
)% |
|
|
(3.0 |
)% |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net increase (decrease) in net assets resulting from operations to average net assets |
|
|
(35.8 |
)% |
|
|
(41.6 |
)% |
|
|
(0.6 |
)% |
|
|
18.8 |
% |
|
|
41.2 |
% |
| Portfolio Turnover |
|
|
0.3 |
% |
|
|
0.3 |
% |
|
|
0.0 |
% |
|
|
32.3 |
% |
|
|
0.4 |
% |
|
(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. |
|
(3) |
Financial
Highlights for the periods of less than one year are annualized and the ratios of operating expenses to average net assets and net investment
loss to average net assets are adjusted accordingly. Non-recurring expenses are not annualized. For the three months ended March 31,
2026 and 2025, the Company did not exclude any nonrecurring expenses. Because the ratios are calculated for the Company’s common
stock taken as a whole, an individual investor’s ratios may vary from these ratios. |
|