Quarterly report pursuant to Section 13 or 15(d)

Statements of Assets and Liabilities

v3.22.2.2
Statements of Assets and Liabilities - USD ($)
Sep. 30, 2022
Dec. 31, 2021
ASSETS    
Control investments at fair value (cost of $27,353,273 and $27,353,273, respectively) $ 17,965,147 $ 22,615,962
Non-control/non-affiliate investments at fair value (cost of $18,682,876 and $18,682,876, respectively) 22,806,912 11,691,130
Total investments at fair value (cost of $46,036,149 and $46,036,149, respectively) 40,772,059 34,307,092
Cash 187,979 523,815
Restricted cash 40,624 40,586
Due from portfolio companies 229,540 225,396
Interest receivable, net of allowance for bad debt of $430,445 and $430,445, respectively 310,928 104,145
Taxes receivable 750
Prepaid expenses 82,876 30,473
Total assets 41,624,006 35,232,257
LIABILITIES    
Accrued management fees 512,735 262,324
Accounts payable 364,873 203,645
Due to affiliates [1] 472,500 273,016
Deferred fee income 17,996
Accrued expenses and other liabilities 78,521 2,284
Total liabilities 1,428,629 759,265
Net assets 40,195,377 34,472,992
NET ASSETS    
Common Stock, par value $0.001 per share (250,000,000 shares authorized; 120,486,061 shares issued and outstanding at September 30, 2022 and December 31, 2021) 120,486 120,486
Paid-in capital 64,868,884 64,868,884
Accumulated deficit (24,793,993) (30,516,378)
Total net assets $ 40,195,377 $ 34,472,992
Net asset value per share (in Dollars per share) [2] $ 0.334 $ 0.286
[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.
[2] Financial highlights are based on weighted average shares outstanding.