The following table presents the components of interest expense for the following periods:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Three Months Ended |
|
|
For the Nine Months Ended |
|
|
|
September 30, 2025 |
|
|
September 30, 2024 |
|
|
September 30, 2025 |
|
|
September 30, 2024 |
|
Commitment fee |
|
$ |
125,465 |
|
|
$ |
- |
|
|
$ |
318,243 |
|
|
|
- |
|
Amortization of deferred financing costs |
|
|
177,966 |
|
|
|
- |
|
|
|
426,745 |
|
|
|
- |
|
Interest expense |
|
|
35,084 |
|
|
|
- |
|
|
|
40,168 |
|
|
|
- |
|
Total interest expense |
|
$ |
338,515 |
|
|
$ |
- |
|
|
$ |
785,156 |
|
|
|
- |
|
Average interest rate |
|
|
7.33 |
% |
|
|
- |
|
|
|
7.33 |
% |
|
|
- |
|
Average daily borrowings |
|
$ |
1,875,000 |
|
|
$ |
- |
|
|
$ |
723,443 |
|
|
|
- |
|
|