Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited)

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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Revenue:    
Interest income from loans $ 12,641,444 $ 10,983,326
Investment gain, net 527,824 274,796
Income from partnership investments 1,195,300 549,723
Origination and modification fees, net 1,461,966 1,475,920
Fee and other income 1,189,241 707,605
Unrealized gain on equity securities 185,181 716,389
Total revenue 17,200,956 14,707,759
Operating costs and expenses:    
Interest and amortization of deferred financing costs 7,469,442 6,872,967
Compensation, fees and taxes 1,943,197 1,779,318
General and administrative expenses 1,238,574 898,115
Other expenses 556,640 83,722
Loss (Gain) on sale of real estate and equipment, net 10,854 (148,100)
Provision for credit losses related to loans 1,312,024 101,515
Total operating costs and expenses 12,530,731 9,587,537
Net income 4,670,225 5,120,222
Preferred stock dividend (1,021,526) (924,762)
Net income attributable to common shareholders 3,648,699 4,195,460
Other comprehensive income (loss)    
Unrealized (loss) gain on debt securities (125,285) 91,637
Total comprehensive income $ 3,523,414 $ 4,287,097
Basic and diluted net income per common share outstanding:    
Basic (in dollars per share) $ 0.08 $ 0.10
Diluted (in dollars per share) $ 0.08 $ 0.10
Weighted average number of common shares outstanding:    
Basic (in shares) 47,326,384 42,792,509
Diluted (in shares) 47,326,384 42,792,509