Fee income (see Note 9)                       11,064          2,108 
Other income                                  72,774             22 
                                         -----------    ----------- 
Total Investment Income                    6,216,483      5,721,678 
 
Expenses: 
  Interest and financing expenses          2,545,811      1,542,061 
  Salaries and benefits                    1,028,617      1,424,992 
  Professional fees, net                     418,013        357,554 
  Directors fees                             204,000        187,500 
  Insurance expenses                          88,421         97,756 
  Administrator expenses (see Note 
   6)                                         84,355         77,852 
  General and administrative 
   expenses                                  221,793        325,061 
                                         -----------    ----------- 
Total expenses                             4,591,010      4,012,776 
                                         -----------    ----------- 
Net Investment Income                      1,625,473      1,708,902 
 
Realized and unrealized gains 
(losses) on investments 
Net realized gains (losses): 
  Non-controlled, non-affiliated 
   investments                             1,168,670        229,804 
  Affiliated investments                           -              - 
  Controlled investments                           -              - 
                                         -----------    ----------- 
Total net realized gains (losses)          1,168,670        229,804 
Net change in unrealized gains 
(losses): 
  Non-controlled, non-affiliated 
   investments                               808,538      1,364,243 
  Affiliated investments                    (889,186)     2,431,263 
  Controlled investments                    (249,338)    (1,200,373) 
                                         -----------    ----------- 
Total net change in unrealized 
 gains (losses)                             (329,986)     2,595,133 
Deferred tax benefit (expense)                     -              - 
                                         -----------    ----------- 
Total realized and unrealized gains 
 (losses)                                    838,684      2,824,937 
                                         -----------    ----------- 
 
Net Increase (Decrease) in Net 
 Assets Resulting from Operations     $    2,464,157   $  4,533,839 
                                         ===========    =========== 
 
Weighted average basic and diluted 
 earnings per common share            $         1.22   $       2.19 
Weighted average common shares 
 outstanding - basic and diluted 
 (see Note 11)                             2,019,778      2,072,694 
 

(END) Dow Jones Newswires

February 07, 2025 06:00 ET (11:00 GMT)