Quarterly report pursuant to Section 13 or 15(d)

Statements of Assets and Liabilities

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Statements of Assets and Liabilities - USD ($)
Mar. 31, 2024
Dec. 31, 2023
ASSETS    
Total investments at fair value $ 23,258,115 $ 29,734,953
Cash and cash equivalents 1,942,385 1,937,768
Restricted cash 42,188 41,891
Interest receivable, net of allowance for bad debt of $16,549 and $16,549, respectively 524,946 525,685
Prepaid expenses 14,470 47,306
Total assets 25,810,176 32,314,195
LIABILITIES    
Accrued management fees 76,746 78,889
Accounts payable 293,632 159,472
Taxes expense payable 65,939 64,537
Accrued expenses and other liabilities 38,372 41,860
Total liabilities 539,564 409,633
Net assets 25,270,612 31,904,562
NET ASSETS    
Common Stock, par value $0.001 per share (250,000,000 shares authorized; 120,486,061 shares issued and outstanding at March 31, 2024 and December 31, 2023) 120,486 120,486
Paid-in capital 64,868,884 64,868,884
Accumulated deficit (39,718,758) (33,084,808)
Total net assets $ 25,270,612 $ 31,904,562
Net asset value per share (in Dollars per share) [1] $ 0.21 $ 0.265
Related Party    
ASSETS    
Due from portfolio companies $ 28,072 $ 26,592
LIABILITIES    
Due to affiliates [2] 64,875 64,875
Control Investments    
ASSETS    
Total investments at fair value 16,141,570 18,581,422
Non-Control/Non-Affiliate Investments    
ASSETS    
Total investments at fair value $ 7,116,545 $ 11,153,531
[1] Financial highlights are based on weighted average shares outstanding.
[2] 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.