v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended 12 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Dec. 31, 2025
Cash Flows from Operating Activities      
Net increase (decrease) in net assets resulting from operations $ (8,628,662) $ 2,206,292  
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:      
Origination and purchase of investments (784,273) (5,612,192)  
Payment in-kind interest and dividends (405,572) (666,155)  
Sales and repayments of investments 14,025,422 7,340,189  
Net realized (gain) loss on investments (19,335) 1,627,282  
Net change in unrealized appreciation/depreciation on investments 8,833,079 (3,230,048)  
Amortization of discount/premium on investments (409,766) (289,989)  
Amortization of deferred debt issuance costs 153,824 153,824  
Amortization of original issue discount (922,523) 17,778  
Net (increase) decrease in operating assets:      
Principal receivable (27,710) 720,855  
Interest receivable (128,712) 508,793  
Payment-in-kind interest receivable 40,184 3,202  
Long-term receivable 0 489,365  
Short-term receivable 0 (367,561)  
Prepaid expenses and other assets (272,354) (393,083)  
Net increase (decrease) in operating liabilities:      
Interest payable (989,631) 729,233  
Base management fees payable 359,808 773,893  
Income-based incentive fees payable 0 0  
Deferred income liability (75,731) 674,011  
Directors fees payable 79,952 (4,823)  
Accrued expenses and other liabilities (7,341) 410,727  
Net cash (used in) provided by operating activities 10,820,659 5,091,593  
Cash Flows from Financing Activities:      
Payments for deferred financing costs (248,182) 0  
Distributions to stockholders 0 (1,706,034)  
Proceeds from borrowing on revolving financing facility 0 500,000  
Repayments of borrowing on revolving financing facility (14,000,000) (3,000,000)  
Proceeds from 2029 Notes payable 65,000,000 0  
Repayments of borrowing on 2026 Notes payable (65,000,000) 0  
Net cash (used in) provided by financing activities (14,248,182) (4,206,034)  
Net change in cash and cash equivalents (3,427,523) 885,559  
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period 14,998,445 12,104,547 $ 12,104,547
Cash and cash equivalents and restricted cash and cash equivalents at end of period 11,570,922 12,990,106 14,998,445
Supplemental and non-cash financing cash flow information:      
Cash paid for interest 2,679,644 1,102,733  
Cash paid for taxes 425,244 6,059  
Issuance of shares pursuant to Dividend Reinvestment Plan 0 22,715  
Non-cash purchase of investments 0 (10,453,723)  
Non-cash sale of investments 0 10,453,723  
Cash and cash equivalents 2,739,918 2,333,328  
Restricted cash and cash equivalents 8,831,004 10,656,778  
Cash and cash equivalents and restricted cash and cash equivalents $ 11,570,922 $ 12,990,106 $ 14,998,445