Quarterly report pursuant to Section 13 or 15(d)

Statements of Assets and Liabilities

v3.23.2
Statements of Assets and Liabilities - USD ($)
Jun. 30, 2023
Dec. 31, 2022
ASSETS    
Control investments at fair value (cost of $27,353,273 and $27,353,273, respectively) $ 19,767,054 $ 18,499,943
Non-control/non-affiliate investments at fair value (cost of $11,904,790 and $11,882,290, respectively) 11,686,220 12,064,145
Total investments at fair value (cost of $39,258,063 and $39,235,563, respectively) 31,453,274 30,564,088
Cash and cash equivalents 1,874,111 1,525,723
Restricted cash 41,278 40,823
Due from portfolio companies 26,592 26,342
Interest receivable, net of allowance for bad debt of $16,549 and $16,549, respectively 483,114 293,621
Prepaid expenses 113,699 35,552
Total assets 33,992,068 32,486,149
LIABILITIES    
Accrued management fees 74,239 91,934
Accounts payable 261,093 180,096
Due to affiliates [1] 64,875 64,875
Deferred fee income 48,837  
Accrued expenses and other liabilities 1,125 65,782
Total liabilities 450,169 402,687
Net assets 33,541,899 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 June 30, 2023 and December 31, 2022) 120,486 120,486
Paid-in capital 64,868,884 64,868,884
Accumulated deficit (31,447,471) (32,905,908)
Total net assets $ 33,541,899 $ 32,083,462
Net asset value per share (in Dollars per share) $ 0.278 $ 0.266
[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.