Integrity Capital Income Fund 10-QT 4 May 17 2016 T1 Quarterly report for transitional period Financial data

Document and Entity Information

Document and Entity Information - shares	2 Months Ended
	Dec. 31, 2016	May 04, 2017
Document And Entity Information
Entity Registrant Name	Integrity Capital Income Fund, Inc.
Entity Central Index Key	1,598,893
Document Type	10-QT
Document Period End Date	Dec. 31, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		2,463,778
Document Fiscal Period Focus	T1
Document Fiscal Year Focus	2,016

STATEMENTS OF ASSETS, LIABILITI

STATEMENTS OF ASSETS, LIABILITIES AND NET ASSETS (unaudited) - USD ($)	Dec. 31, 2016	Oct. 31, 2016
Investments at fair value
Non-controlled/non-affiliate company investments	$ 23,378,866	$ 21,805,282
Controlled affiliate company investments	902,312	902,312
Total Investments at fair value (cost $23,558,400 and $22,045,584)	24,281,178	22,707,594
Cash and cash equivalents	1,472,162	2,528,322
Interest receivable	1,220,196	1,032,000
Prepaid insurance	13,083	15,916
Other assets	12,017	12,500
Total assets	26,998,636	26,296,332
LIABILITIES:
Due to Adviser	240,759	168,694
Line of credit payable	1,714,658	1,700,687
Income taxes payable	125,508	125,508
Total liabilities	2,080,925	1,994,889
Commitments and contingencies (Note 6)
NET ASSETS	24,917,711	24,301,443
NET ASSETS REPRESENTED BY SHAREHOLDERS' EQUITY:
Common stock, par value $0.0001 per share, 200,000,000 shares authorized; 2,525,040 and 2,459,506 common shares issued and outstanding	253	246
Preferred stock, par value $0.0001 per share, 10,000,000 shares authorized; Zero shares issued and outstanding	0	0
Paid-in capital in excess of par value	25,547,836	24,872,843
Accumulated over-distributed net investment income	(1,526,272)	(1,406,772)
Net unrealized appreciation (depreciation) on investments	722,778	662,010
Net realized gain on investments	173,116	173,116
TOTAL NET ASSETS REPRESENTED BY SHAREHOLDERS' EQUITY	$ 24,917,711	$ 24,301,443
Net asset value per share	$ 9.87	$ 9.88

STATEMENTS OF ASSETS, LIABILIT3

STATEMENTS OF ASSETS, LIABILITIES AND NET ASSETS (unaudited) (Parenthetical) - USD ($)	Dec. 31, 2016	Oct. 31, 2016
Statement of Financial Position [Abstract]
Investments, at cost	$ 23,558,400	$ 22,045,584
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	2,525,040	2,459,506
Common stock, shares outstanding	2,525,040	2,459,506
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0

SCHEDULE OF INVESTMENTS

SCHEDULE OF INVESTMENTS - USD ($)	Dec. 31, 2016	Oct. 31, 2016	Oct. 30, 2016	Oct. 30, 2015
Investments, at cost	$ 23,558,400	$ 22,045,584
Investments at fair value	24,281,178	22,707,594
Unrealized appreciation (depreciation) on investments	$ 722,778	$ 662,010
% of Net Assets	97.50%	93.40%
5500 South Quebec Holdings, LLC
Investments, at cost	$ 4,152,361	$ 4,151,103
Investments at fair value	$ 4,271,543	4,260,403
Interest Rate	8.00%
Unrealized appreciation (depreciation) on investments	$ 119,182	$ 109,300
% of Net Assets	17.10%	17.60%
Aequitas Commercial Finance, LLC
Investments, at cost	$ 500,000	$ 500,000
Investments at fair value	$ 346,295	337,568
Interest Rate	14.50%
Unrealized appreciation (depreciation) on investments	$ (153,705)	$ (162,432)
% of Net Assets	1.40%	1.40%
Aequitas Peer-To-Peer Funding, LLC
Investments, at cost	$ 110,000	$ 110,000
Investments at fair value	$ 24,817	22,279
Interest Rate	14.50%
Unrealized appreciation (depreciation) on investments	$ (85,183)	$ (87,721)
% of Net Assets	0.10%	0.10%
Aequitas Peer-To-Peer Funding LLC
Investments, at cost	$ 16,500	$ 16,500
Investments at fair value	$ 3,722	3,342
Interest Rate	14.50%
Unrealized appreciation (depreciation) on investments	$ (12,778)	$ (13,158)
% of Net Assets	0.00%	0.00%
Ajubeo, LLC [Member]
Investments, at cost	$ 375,000	$ 375,000
Investments at fair value	$ 368,706	366,200
Interest Rate	8.00%
Unrealized appreciation (depreciation) on investments	$ (6,294)	$ (8,800)
% of Net Assets	1.50%	1.50%
All Pro Funding II, LLC
Investments, at cost	$ 1,000,000	$ 1,000,000
Investments at fair value	$ 1,000,000	1,000,000
Interest Rate	11.00%
Unrealized appreciation (depreciation) on investments	$ 0	$ 0
% of Net Assets	4.00%	4.10%
Burnham & Sullivan Holdings, LLC
Investments, at cost	$ 299,000		$ 299,000
Investments at fair value	$ 294,485		299,000
Interest Rate	10.50%
Unrealized appreciation (depreciation) on investments	$ (4,515)		$ 0
% of Net Assets	1.20%		1.20%
Care Payment Holdings, LLC
Investments, at cost	$ 1,000,000	$ 1,000,000
Investments at fair value	$ 723,299	707,633
Interest Rate	12.00%
Unrealized appreciation (depreciation) on investments	$ (276,701)	$ (292,367)
% of Net Assets	2.90%	2.90%
eCOS, LLC
Investments, at cost	$ 1,143,554	$ 1,142,741
Investments at fair value	$ 1,119,418	1,119,418
Interest Rate	12.00%
Unrealized appreciation (depreciation) on investments	$ (24,136)	$ (23,323)
% of Net Assets	4.50%	4.60%
IRC Malibu, LLC
Investments, at cost	$ 1,606,947
Investments at fair value	$ 1,619,000
Interest Rate	12.00%
Unrealized appreciation (depreciation) on investments	$ 12,053
% of Net Assets	6.50%
Monarch Country Meadows, LLC
Investments, at cost	$ 195,717	$ 344,750
Investments at fair value	$ 199,800	350,000
Interest Rate	12.00%
Unrealized appreciation (depreciation) on investments	$ 4,083	$ 5,250
% of Net Assets	0.80%	1.40%
Monarch Lincoln Meadows, LLC
Investments, at cost	$ 1,309,133	$ 1,247,400
Investments at fair value	$ 1,315,711	1,289,754
Interest Rate	12.70%
Unrealized appreciation (depreciation) on investments	$ 6,578	$ 42,354
% of Net Assets	5.30%	5.30%
NC Foundation
Investments, at cost	$ 1,190,500	$ 1,200,000
Investments at fair value	$ 1,218,946	1,218,946
Interest Rate	12.00%
Unrealized appreciation (depreciation) on investments	$ 28,446	$ 18,946
% of Net Assets	4.90%	5.00%
Northstar Portfolio, LLC
Investments, at cost	$ 3,915,445	$ 3,915,445
Investments at fair value	$ 4,112,826	4,088,368
Interest Rate	6.00%
Unrealized appreciation (depreciation) on investments	$ 197,381	$ 172,923
% of Net Assets	16.50%	16.80%
Patriot Park
Investments, at cost	$ 988,542	$ 988,125
Investments at fair value	$ 1,000,000	1,000,000
Interest Rate	12.00%
Unrealized appreciation (depreciation) on investments	$ 11,458	$ 11,875
% of Net Assets	4.00%	4.10%
Subsentio, LLC
Investments, at cost	$ 1,196,389	$ 1,196,208
Investments at fair value	$ 1,200,000	1,200,000
Interest Rate	8.75%
Unrealized appreciation (depreciation) on investments	$ 3,611	$ 3,792
% of Net Assets	4.80%	4.90%
PCM Tax Lien Fund, LP
Investments, at cost	$ 902,312	$ 902,312
Investments at fair value	$ 902,312	902,312
Interest Rate	7.00%
Unrealized appreciation (depreciation) on investments	$ 0	$ 0
% of Net Assets	3.60%	3.70%
TVO Capital Management, LLC - Westport on the River
Investments, at cost	$ 987,000	$ 987,000
Investments at fair value	$ 987,000	987,000
Interest Rate	8.00%
Unrealized appreciation (depreciation) on investments	$ 0	$ 0
% of Net Assets	4.00%	4.10%
TVO North America, LLC
Investments, at cost	$ 500,000	$ 500,000
Investments at fair value	$ 500,000	500,000
Interest Rate	12.00%
Unrealized appreciation (depreciation) on investments	$ 0	$ 0
% of Net Assets	2.00%	2.10%
TVO North America, LLC
Investments, at cost	$ 820,000			$ 820,000
Investments at fair value	$ 820,000			820,000
Interest Rate	12.00%
Unrealized appreciation (depreciation) on investments	$ 0			$ 0
% of Net Assets	3.30%			3.40%
Debt Securities
Investments, at cost	$ 22,208,400	$ 20,695,584
Investments at fair value	22,027,880	20,472,223
Unrealized appreciation (depreciation) on investments	$ (180,520)	$ (223,361)
% of Net Assets	88.40%	84.20%
Equity Securities, 5500 South Quebec Holdings, LLC
Investments, at cost	$ 0	$ 0
Investments at fair value	0	0
Unrealized appreciation (depreciation) on investments	$ 0	$ 0
Number of contracts/shares	49	49
% of Net Assets	0.00%	0.00%
Equity Securities, Ajubeo, LLC
Investments, at cost	$ 0	$ 0
Investments at fair value	392,084	359,778
Unrealized appreciation (depreciation) on investments	$ 392,084	$ 359,778
Number of contracts/shares	73,424	73,424
% of Net Assets	1.60%	1.50%
Equity Securities, Subsentio, LLC
Investments, at cost	$ 0	$ 0
Investments at fair value	361,890	344,559
Unrealized appreciation (depreciation) on investments	$ 361,890	$ 344,559
Number of contracts/shares	136,459	136,459
% of Net Assets	1.50%	1.40%
Equity Securities, Subsentio, LLC
Investments, at cost	$ 0	$ 0
Investments at fair value	161,598	151,732
Unrealized appreciation (depreciation) on investments	$ 161,598	$ 151,732
Number of contracts/shares	66,666	66,666
% of Net Assets	0.60%	0.60%
Equity Securities
Investments, at cost	$ 0	$ 0
Investments at fair value	915,572	856,069
Unrealized appreciation (depreciation) on investments	$ 915,572	$ 856,069
% of Net Assets	3.70%	3.50%
Investments in Partnership interests, BAL Riverchase Capital Partners, LLC
Investments, at cost	$ 850,000	$ 850,000
Investments at fair value	850,000	850,000
Unrealized appreciation (depreciation) on investments	$ 0	$ 0
Non-Voting Preferred Ownership	14.00%	14.00%
% of Net Assets	3.40%	3.50%
Investments in Partnership interests, Total partnership interests
Investments, at cost	$ 850,000	$ 850,000
Investments at fair value	850,000	850,000
Unrealized appreciation (depreciation) on investments	$ 0	$ 0
% of Net Assets	3.40%	3.50%
Investment in Other Investment Landmark Infrastructure Partners, LP
Investments, at cost	$ 500,000	$ 500,000
Investments at fair value	487,726	529,302
Unrealized appreciation (depreciation) on investments	$ (12,274)	$ 29,302
Number of contracts/shares	31,982	31,982
% of Net Assets	2.00%	2.20%
Total other investment companies
Investments, at cost	$ 500,000	$ 500,000
Investments at fair value	487,726	529,302
Unrealized appreciation (depreciation) on investments	$ (12,274)	$ 29,302
Number of contracts/shares	31,982
% of Net Assets	2.00%	2.20%

STATEMENTS OF OPERATIONS (unaud

STATEMENTS OF OPERATIONS (unaudited) - USD ($)	2 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
From non-controlled/non-affiliate company investments:
Interest on investments, net	$ 344,418	$ 216,719
Dividend and interest income	12,037	5,904
Total investment income from non-controlled/non-affiliate company investments	356,455	222,623
From controlled affiliate company investments:
Interest on investments	12,783	10,702
Total investment income from controlled affiliate company investments	12,783	10,702
Total investment income	369,238	233,325
EXPENSES:
Base management fees	66,245	57,434
Professional fees	68,639	63,816
Marketing expenses	10,262	2,680
Custody fees	6,625	5,743
Insurance expense	2,833	2,583
Director fees	8,049	0
Interest expense	13,971	5,554
Other expenses	1,095	0
Total expenses	177,719	137,810
Operating expenses refunded/(reimbursed) (Note 4)	0	(33,639)
Net expenses	177,719	104,171
NET INVESTMENT INCOME	191,519	129,154
Net realized gain on investments:
Non-controlled/non-affiliate company investments	0	98,983
Net change in unrealized appreciation on investments:
Non-controlled/non-affiliate company investments	60,768	25,091
Net realized and unrealized gain on investments:	60,768	124,074
NET INCREASE/(DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$ 252,287	$ 253,228
Per Common Share data:
Net investment income per common share - basic and diluted	$ 0.08	$ 0.06
Earnings per common share - basic and diluted	$ .10	$ 0.12
Weighted average shares of common stock outstanding - basic and diluted	2,479,091	2,074,568
Distributions declared per common share	$ 0.13	$ 0.13

STATEMENTS OF CHANGES IN NET AS

STATEMENTS OF CHANGES IN NET ASSETS (Unaudited) - USD ($)	2 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Common Stock
BALANCE, Amount	$ 246	$ 185
BALANCE, Shares	2,459,506	1,849,246
Issuance of common stock, Amount	$ 7	$ 43
Issuance of common stock, Shares	65,534	429,695
BALANCE, Amount	$ 253	$ 228
BALANCE, Shares	2,525,040	2,278,941
Paid-in Capital in Excess of Par Value
BALANCE, Amount	$ 24,872,843	$ 18,612,085
Issuance of common stock, Amount	674,993	4,370,557
BALANCE, Amount	25,547,836	22,982,642
Accumulated over-distributed net investment income
BALANCE, Amount	(1,406,772)	(262,113)
Net increase in net assets resulting from operations	191,519	129,154
Distributions (0.13 per share)	(311,019)	(264,531)
BALANCE, Amount	(1,526,272)	(397,490)
Net Unrealized Appreciation (Depreciation) on Investments
BALANCE, Amount	662,010	474,791
Net increase in net assets resulting from operations	60,768	25,091
BALANCE, Amount	722,778	499,882
Net Realized Gain on investments
BALANCE, Amount	173,116	0
Net increase in net assets resulting from operations		98,983
BALANCE, Amount	173,116	98,983
BALANCE, Amount	24,301,443	18,824,948
Issuance of common stock, Amount	675,000	4,370,600
Net increase in net assets resulting from operations	252,287	253,228
Distributions (0.13 per share)	(311,019)	(264,531)
BALANCE, Amount	$ 24,917,711	$ 23,184,245

STATEMENTS OF CHANGES IN NET A7

STATEMENTS OF CHANGES IN NET ASSETS (Parenthetical) - $ / shares	2 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Statement of Stockholders' Equity [Abstract]
Dividend per share	$ .13	$ .13

STATEMENTS OF CASH FLOWS (unaud

STATEMENTS OF CASH FLOWS (unaudited) - USD ($)	2 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net increase in net assets resulting from operations	$ 252,287	$ 253,228
Adjustments to reconcile net increase in net assets resulting from operations to net cash used in operating activities:
Purchase of investments	(1,590,810)	(2,131,851)
Proceeds from principal payments and sales of investments	150,200	525,747
Net realized gain on investments	0	(98,983)
Net change in unrealized appreciation on investments	(60,768)	(25,091)
Accretion of loan origination fees	(72,206)	(7,716)
PIK interest	(107,013)	(188,754)
Change in assets and liabilities:
Interest receivable	(81,183)	77,745
Prepaid insurance	2,833	2,583
Other Assets	483	43,500
Due to Adviser	72,065	26,535
Deferred loan origination fees	0	(35,649)
Net cash used in operating activities	(1,434,112)	(1,558,706)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuances of common stock	675,000	4,370,600
Distributions of income paid	(311,019)	(264,531)
Borrowings on line of credit	13,971	0
Repayments on line of credit, net	0	(1,701,008)
Net cash provided by financing activities	377,952	2,405,061
NET CHANGE IN CASH AND CASH EQUIVALENTS	(1,056,160)	846,355
CASH AND CASH EQUIVALENTS - Beginning of period	2,528,322	3,764,999
CASH AND CASH EQUIVALENTS - End of period	1,472,162	4,611,354
Interest Paid during the period	0	5,554
Distributions declared and paid during the period	$ (311,019)	$ (264,531)

1. ORGANIZATION

1. ORGANIZATION	2 Months Ended
	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
1. ORGANIZATION	Integrity Capital Income Fund, Inc. (the "Company"), an externally managed investment company was organized as a Colorado corporation on December 10, 2013 and was initially funded on January 21, 2014 (commencement of operations). The Company has elected to be regulated as a business development company ("BDC") under the Investment Company Act of 1940, as amended (the "1940 Act"). In addition, for U.S. federal income tax purposes, the Company has elected to be treated as a regulated investment company ("RIC") under Subchapter M of the Internal Revenue Code of 1986, as amended (the "Code"). The Company invests principally in debt and equity securities, including convertible preferred securities, limited liability companies, partnerships and other debt securities convertible into equity securities, of primarily non-public U.S.-based companies. The investment objective is to maximize income and capital appreciation. In accordance with the investment objective, the Company intends to provide capital principally to U.S.-based, private companies with an equity value of less than $250 million, which the Company refers to as "micro-cap companies." The Company's primary emphasis is to identify companies with experienced management and positive cash flow from operations by (1) accessing established relationship channels of Integrity Trust Company, LLC, a Colorado limited liability company (the "Adviser"), (2) selecting investments within our core markets, (3) partnering with experienced private equity, real estate and investment firms, (4) implementing the disciplined underwriting standards of the Adviser and (5) drawing upon the combined experience and resources of the Adviser and its affiliates. The Company generally invests in securities that have not been rated by independent rating agencies or that would be rated below investment grade if they were rated. These securities have predominately speculative characteristics with respect to the issuer's capacity to pay interest and repay principal. Fiscal Year The Company historically reported its results based on a 52 week year ending on the 31st of October. On March 20, 2017, the Board of Directors approved a change of the Company's fiscal year end from October 31 st st

2. SIGNIFICANT ACCOUNTING POLIC

2. SIGNIFICANT ACCOUNTING POLICIES	2 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
2. SIGNIFICANT ACCOUNTING POLICIES	Basis of Accounting The accompanying financial statements of the Company and related financial information have been prepared in accordance with generally accepted accounting principles in the United States of America ("GAAP") and pursuant to the requirements for reporting on Form 10-Q and Articles 6 or 10 of Regulation S-X. The Company has determined it meets the definition of an investment company and follows the accounting and reporting guidance in the Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 946—Financial Services—Investment Companies ("ASC Topic 946"). In the opinion of management, the financial statements reflect all adjustments and reclassifications that are necessary for the fair presentation of financial results as of and for the periods presented. Use of Estimates Financial statements prepared on a GAAP basis require management to make estimates and assumptions that affect the amounts and disclosures reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Such estimates and assumptions could change in the future as more information becomes known, which could impact the amounts reported and disclosed herein. Investment valuation represents a significant estimate within these financial statements. Cash and Cash Equivalents The Company deposits its cash in financial institutions and, at times, such balances may be in excess of the Federal Deposit Insurance Corporation insurance limits; however, management does not believe it is exposed to any significant credit risk. Fair Value of Investments The Company's fair value accounting policies adhere to the provisions of FASB ASC Topic 820, Fair Value Measurements and Disclosures ("Topic ASC 820"). Topic ASC 820 establishes a fair value hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are those that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Company. Unobservable inputs reflect the Company's assumption about the inputs market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The fair value hierarchy is categorized into three levels based on the inputs as follows: Level 1 -Valuations based on unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. Valuation adjustments and block discounts are not applied to Level 1 securities. Since valuations are based on quoted prices that are readily and regularly available in an active market, valuation of these securities does not entail a significant degree of judgment. Level 2 -Valuations based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly. Level 3 -Valuations based on inputs that are unobservable and significant to the overall fair value measurement. To the extent that the valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Those estimated values do not necessarily represent the amounts that may be ultimately realized due to the occurrence of future circumstances that cannot be reasonably determined. Because of the inherent uncertainty of valuation, those estimated values may be materially higher or lower than the values that would have been used had a ready market for the securities existed. Accordingly, the degree of judgment exercised by the Company in determining fair value is greatest for securities categorized in Level 3. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety is determined by the lowest level input that is significant to the fair value measurement. Fair value is a market-based measure considered from the perspective of a market participant rather than an entity-specific measure. Therefore, even when market assumptions are not readily available, the Company's own assumptions are set to reflect those that market participants would use in pricing the asset or liability at the measurement date. See further description of fair value methodology in Note 5. Revenue Recognition Investments and related investment income: Interest income is accrued based upon the outstanding principal amount and contractual interest terms of debt investments. For the two months ended December 31, 2016 and December 31, 2015, the Company earned interest income of $357,201 and $227,421 (including $12,783 and $10,702 in interest on investments from affiliate company), respectively. As of December 31, 2016 and October 31, 2016, the Company had interest receivable of $1,220,196 and $1,032,000, respectively. The Company had no allowances on interest receivable balances as of December 31, 2016 and October 31, 2016. Fee income such as loan origination, closing, commitment, structuring and other upfront fees is capitalized, and the Company accretes or amortizes such amounts over the life of the loan as net interest on investments. For the two months ended December 31, 2016 and 2015, interest income included $72,206 and $7,716, respectively, of accretion of loan origination fees. For the two months ended December 31, 2016 and 2015, the Company received fee income of $28,190 and $0, respectively. Investment transactions are accounted for on a trade-date basis. Realized gains or losses on investments are measured by the difference between the net proceeds from the disposition and the cost basis of investment, without regard to unrealized gains or losses previously recognized. The Company reports current period changes in fair value of investments that are measured at fair value as a component of the net change in unrealized appreciation (depreciation) on investments in the Statements of Operations. For investments with contractual payment-in-kind ("PIK") interest, which represents contractual interest accrued and added to the principal balance that generally becomes due at maturity, the Company will not accrue PIK interest if the portfolio company valuation indicates that the PIK interest is not collectible. For the period ended December 31, 2016 and the year ended October 31, 2016, the Company held three investments, Ajubeo, LLC, Northstar Portfolio, LLC and 5500 South Quebec Holdings, LLC with contractual PIK interest. As of December 31, 2016, the balance of accrued PIK interest related to these investments was $64,656, $302,470, and $443,525, respectively. As of October 31, 2016 the balance of accrued PIK interest related to these investments was $59,066, $260,852, and $383,720, respectively. All PIK interest amounts are recorded within the interest receivable balances as of December 31, 2016 and October 31, 2016. The Company notes that investments held with PIK interest do not have cash interest rates. Dividend income from investments in other investment companies is recorded as dividend income on an accrual basis to the extent that such amounts are payable by the investment company and are expected to be collected. Each distribution received from limited liability company ("LLC") and limited partnership ("LP") investments is evaluated to determine if the distribution should be recorded as dividend income or a return of capital. Generally, the Company will not record distributions from equity investments in LLCs and LPs as dividend income unless there are sufficient accumulated tax-basis earnings and profits in the LLC or LP prior to the distribution. Distributions that are classified as a return of capital are recorded as a reduction in the cost basis of the investment. For the two months ended December 31, 2016 and December 31, 2015, the Company recorded dividend income of $10,794 and $5,904, respectively. Non-accrual loans: A loan may be left on accrual status during the period the Company is pursuing repayment of the loan. Management reviews all loans that become 90 days or more past due on principal and interest, or when there is reasonable doubt that principal or interest will be collected, for possible placement on non-accrual status. When a loan is placed on non-accrual status, unpaid interest credited to income is reversed. Additionally, any original issue discount and market discount are no longer accreted to interest income as of the date the loan is placed on non-accrual status. Interest payments received on non-accrual loans may be recognized as income or applied to principal depending upon management's judgment. Non-accrual loans are restored to accrual status when past due principal and interest is paid and, in management's judgment, are likely to remain current. There were three non-accrual loans held as of December 31, 2016 and October 31, 2016 (Aequitas Commercial Finance, LLC, Aequitas Peer-To-Peer Funding, LLC, and Care Payment Holdings, LLC) with a total fair value of $1,098,133 and $1,070,822, respectively, and cost of $1,626,500 for both periods. Partial loan sales: The Company follows the guidance in FASB ASC Topic 860 when accounting for loan participations and other partial loan sales. Such guidance requires a participation or other partial loan sale to meet the definition of a "participating interest", as defined in the guidance, in order for sale treatment to be allowed. Participations or other partial loan sales which do not meet the definition of a participating interest remain on the Company's Statements of Assets, Liabilities and Net Assets and the proceeds are recorded as a secured borrowing until the definition is met. Secured borrowings are carried at fair value to correspond with the related investments, which are carried at fair value. For the two months ended December 31, 2016 and 2015, there were no partial loan sales which met the definition of a participating interest to a related party. Income Taxes The Company has elected to be treated as a BDC under the 1940 Act. The Company elected to be treated as a RIC under the Internal Revenue Code beginning with the tax year ended October 31, 2015. Such election was made upon the filing of the Company's first federal tax return for RIC purposes. In order to continue to qualify as a RIC, among other things, the Company must meet certain source of income and asset diversification requirements and timely distribute to its stockholders at least 90% of investment company taxable income, as defined by the Code, for each tax year. The Company has made, and intends to continue to make, the requisite distributions to its stockholders, which generally relieves the Company from U.S. federal income taxes with respect to all income distributed to its stockholders. So long as the Company maintains its status as a RIC, it will generally not pay corporate-level U.S. federal income or excise taxes on any ordinary income or capital gains that it distributes at least annually to its stockholders as distributions of income. As a result, any tax liability related to income earned and distributed by the Company represents obligations of the Company's stockholders and will not be reflected in the financial statements of the Company. As a RIC, the Company is subject to a 4% nondeductible federal excise tax on certain undistributed income unless the Company distributes in a timely manner an amount at least equal to the sum of (i) 98.0% of ordinary income for each calendar year, (ii) 98.2% of capital gain net income for the one-year period ending October 31 in that calendar year, and (iii) any income realized, but not distributed, in the preceding year. The Company will not be subject to excise taxes on amounts on which the Company is required to pay corporate income tax (such as retained net capital gains). The Company currently intends to make sufficient distributions each taxable year to satisfy the Excise Tax Avoidance Requirement. For the two months ended December 31, 2016 and December 31, 2015, there were no amounts recorded for U.S. federal excise tax. The Company accounts for income taxes in conformity with ASC Topic 740 — Income Taxes ("ASC Topic 740"). ASC Topic 740 provides guidelines for how uncertain tax positions should be recognized, measured, presented and disclosed in financial statements. ASC Topic 740 requires the evaluation of tax positions taken in the course of preparing the Company's tax returns to determine whether the tax positions are "more-likely-than-not" to be sustained by the applicable tax authority. Tax benefits of positions not deemed to meet the more-likely-than-not threshold would be recorded as a tax expense in the current year. It is the Company's policy to recognize accrued interest and penalties related to uncertain tax benefits in income tax expense. As of and during the two months ended December 31, 2016, the Company did not have any unrecognized tax benefits. All tax years since inception remain subject to examination by U.S. federal and most state tax authorities. For the tax year ended October 31, 2016, the Company did not meet the RIC income test. However, the Company believes that it is more than 50 percent likely to satisfy the relief requirement with the IRS. Accordingly, it has recorded a federal income tax expense in the amount of $125,508 which is reflected in the Company's Statements of Operations for the year ended October 31, 2016. If the Company is not able to satisfy the relief requirement with the IRS, it will not be considered RIC for its tax year ended October 31, 2016. Refer to the October 31, 2016 form 10-K for the Company's full income tax footnote for the tax year ended October 31, 2016. As of the quarter ended January 31, 2017, the Company met the asset diversification requirements as stated in Internal Revenue code section 851. While it is the Company's intention to qualify as a RIC, management does not believe that the Company will satisfy the gross income test as of its tax year-end and be taxed as a C-Corp. The Company is in the process of transitioning its structure and will determine the tax due at the time it determines the appropriate change in tax year-end. At this time, the Company has not changed its tax year-end and the result of that change will be the determining factor in exactly how much, if any tax is due. As of December 31, 2016, management of the Company does not believe a liability for income taxes is needed as the event that triggers the liability has not occurred. If a liability were to be recorded as of December 31, 2016 approximately $88,000 would be included as an income tax liability and income tax expense on the statement of operations. Distributions Distributions to common stockholders are recorded on the record date. The amount to be paid out as a distribution is determined by the Board each quarter and is generally based upon the earnings estimated by management. Net realized capital gains, if any, are distributed at least annually, although the Company may decide to retain such capital gains for investment. During the two months ended December 31, 2016 and 2015, there were total distributions of $311,019 and $264,531, respectively. Redemptions of Common Stock As the Company's common stock is currently not sold in a publicly traded marketplace, the Company has limited its redemption of common stock to 2.5% of the weighted average number of shares outstanding in the prior four calendar quarters. All redemptions of common stock must be formally requested by the shareholder.

3. BORROWINGS

3. BORROWINGS	2 Months Ended
	Dec. 31, 2016
Borrowings
3. BORROWINGS	Revolving Credit Facility During the fiscal year ended October 31, 2015, the Company established a line of credit of $3,200,000. The Company renewed the line of credit during the fiscal year ended October 31, 2016 and the line of credit now expires on October 21, 2017, unless extended again. In the process of renewing the line of credit, the credit facility was increased to $4,000,000 from $3,200,000. Borrowings under the line of credit bear interest at a rate of 4.85% over a year of 360 days. All borrowings are collateralized by all assets of the Company. The outstanding balance on the line of credit was $1,714,658 and $1,700,687 at December 31, 2016 and October 31, 2016, respectively. Borrowings under the line of credit are subject to certain financial covenants and restrictions on indebtedness, distribution payments, financial guarantees, business combinations, and other related items. As of December 31, 2016 and October 31, 2016, the Company was in compliance with all covenants. In accordance with the 1940 Act, with certain limited exceptions, the Company is only allowed to borrow amounts such that its asset coverage, calculated pursuant to the 1940 Act, is at least 200% after such borrowing. As of December 31, 2016 and October 31, 2016, the Company's asset coverage was 1,553% and 1,529%, respectively.

4. RELATED PARTY TRANSACTIONS A

4. RELATED PARTY TRANSACTIONS AND AGREEMENTS	2 Months Ended
	Dec. 31, 2016
Related Party Transactions [Abstract]
4. RELATED PARTY TRANSACTIONS AND AGREEMENTS	Investment Advisory and Management Agreement The Company pays the Adviser a fee for its investment advisory services under the Investment Advisory Agreement consisting of two components - a base management fee and an incentive fee. The cost of both the base management fee and any incentive fees earned by the Adviser is ultimately borne by the common shareholders. The base management fee (the "Base Fee") is calculated at an annual rate of 1.50% of gross assets, which includes the use of leverage, if any. The Base Fee is payable quarterly in arrears, and is calculated based on the value of gross assets at the end of the most recently completed fiscal quarter, and appropriately adjusted for any equity capital raises or repurchases during the current fiscal quarter. The Base Fee for any partial month or quarter will be appropriately prorated. For the two months ended December 31, 2016, the Company calculated an estimated management fee of $66,245 for comparative purposes based upon the value of gross assets at October 31, 2016 (the Company's original fiscal year end) adjusted for capital raises during the period. However, the Company notes that the estimated management fee for the two months ended December 31, 2016 does not impact the actual amounts and dates of the original management fee payments that occurred in November 2016 or March 2017 based upon the Company's original fiscal year and quarter dates. The Incentive Fee is determined and payable in arrears as of the end of each fiscal year (or upon termination of the Investment Advisory Agreement, as of the termination date), commencing with the calendar year beginning November 1, 2014, and equals 20% of "Net Investment Income" above 7.50% for the year. "Net Investment Income" is defined as all income accrued during the year minus operating expenses, Base Management Fee and expenses paid under the Investment Advisory Agreement. Net Investment Income includes, in the case of investments with a deferred interest feature (such as original issue discount debt instruments with payable-in-kind interest and zero coupon securities) accrued income not yet received in cash. Net Investment Income does include any realized capital gains, realized capital losses, or unrealized capital depreciation. It does not include unrealized capital appreciation. For the two months ended December 31, 2016 and December 31, 2015, the Adviser earned $66,245 and $57,434 in base management fees, respectively. There was no Incentive Fee for the two months ended December 31, 2016 and December 31, 2015. Custody Agreement As compensation for the Adviser's services related to the Custody Agreement the Company has agreed to pay an annual fee of 0.15% of the Custodial Property defined as all investments and cash equivalents held by the Adviser through October 31, 2015. Effective November 1, 2015, Custodial Property was amended to be defined as gross assets at the end of the most recently completed fiscal quarter, appropriately adjusted for any equity capital raises or repurchases during the current fiscal quarter. The Adviser invoices the Company quarterly in arrears for the pro-rata portion of the annual amount. For the two months ended December 31, 2016 and December 31, 2015, the Adviser earned $6,625 and $5,743, respectively, in custody fees. Administration Agreement Pursuant to the Investment Advisory Agreement, the Adviser furnishes the Company with equipment and clerical, bookkeeping and record-keeping services, as well as certain administrative services, which include being responsible for the financial records which the Company is required to maintain and preparing reports to shareholders and reports filed with the SEC. In addition, the Adviser assists the Company in monitoring portfolio accounting and bookkeeping, managing portfolio collections and reporting, performing internal audit services, determining and publishing the net asset value, overseeing the preparation and filing of tax returns and the printing and dissemination of reports to shareholders, providing support for risk management efforts and generally overseeing the payment of expenses and the performance of administrative and professional services rendered to the Company by others. The Company reimburses the Adviser for the allocable portion of overhead and other expenses incurred in performing its administrative obligations under the Advisory Agreement. The Adviser prepares and delivers statements documenting its expenses which are subject to reimbursement. The Adviser has entered into an Operating Expense Limitation Agreement ("OELA") with the Company effective January 2, 2014, to limit total operating expense to 2.34% of total operating expenses of the Company. Effective September 1, 2014, the OELA was amended to 2.95%, whereby any expenses in excess of the OELA will be reimbursed to the Company by the Adviser. However, the Adviser will be able to recoup from the Company these expenses reimbursed in excess of the limit over a period not to exceed three years. On August 30, 2016, the Adviser gave a termination notice of the Operating Expense Limitation Agreement to the Company, effective as of the close of business, October 31, 2016. The Company's independent directors have reviewed the request and have approved the termination of the agreement. Amounts due under the agreement at the time of cancellation will still be collected under the terms of the agreement. For the two months ended December 31, 2016, the Company calculated that total operating expenses did not fall below the 2.95% limit or the 2.34% limit for comparative purposes. The Company notes that no amounts were reimbursed to the Adviser for the period ended January 31, 2017, or the first quarter of the Company's original fiscal year. For the two months ended December 31, 2015, the Company calculated an estimated waiver amount of $33,639 for comparative purposes. However, the Company notes that this estimated waiver for the two months ended December 31, 2015 does not impact the actual amount and date of the original waiver that occurred on January 31, 2016, as shown in the table below. Such expenses paid by the Adviser each quarter will be subject to reimbursement to the Adviser over a period not to exceed three years, if the Company's expense ratio for such future period is less than the 2.95% limit or the 2.34% limit related to each respective period. The following table presents the amounts reimbursed by the Adviser, based on the Company's original fiscal year end and the expiration date for such future possible reimbursement by the Company. Date Reimbursed Waiver Amount Operating Expenses Refunded Remaining Waiver Amount Expiration Date June 30, 2014 $ 121,939 $ - $ 121,939 June 30, 2017 October 31, 2014 55,091 (28,817 ) 26,274 October 31, 2017 January 31, 2015 77,836 - 77,836 January 31, 2018 April 30, 2015 49,943 - 49,943 April 30, 2018 July 31, 2015 15,643 - 15,643 July 31, 2018 October 31, 2015 16,920 - 16,920 October 31, 2018 January 31, 2016 78,196 - 78,196 January 31, 2019 October 31, 2016 21,758 - 21,758 October 31, 2019 $ 437,326 $ (28,817 ) $ 408,509 Through the normal course of business, the Adviser or an affiliate of the Adviser processes payments on behalf of the Company and then is reimbursed for expenses paid on behalf of the Company on a quarterly basis. As of December 31, 2016, $240,759 was due to the Adviser for such reimbursements, which did not include any amounts reimbursed or refunded related to the agreement. As of October 31, 2016, $168,694 was due to the Adviser for such reimbursements, net of the October 31, 2016 OELA reimbursement of $21,758 noted in the table above. The Due to Adviser balance is settled monthly in arrears. Amounts paid by the Adviser on behalf of the Company are non-interest bearing. Line of Credit Agreement As discussed in Footnote 3, the Company holds a revolving credit facility with Central Bank & Trust Co. ("the Lender"). The Lender is a correspondent bank with the Adviser. In addition, Gemini Bancshares, Inc., the sole shareholder of the Adviser, also has a correspondent bank relationship with the Lender and has a loan currently outstanding with the Lender in the amount of $3,205,000 as of December 31, 2016. Bank Account The Company has held a bank account with Integrity Bank & Trust, Inc. ("Integrity Bank"), an affiliate of the Adviser, since its inception. The Company's ending balance in the Integrity Bank account was $27,500 as of December 31, 2016 and $0 as of October 31, 2016.

5. FAIR VALUE OF INVESTMENTS

5. FAIR VALUE OF INVESTMENTS	2 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
5. FAIR VALUE OF INVESTMENTS	The Company invests in direct debt and equity securities that are not traded on a public market. These securities are recorded at fair value as determined by the Company using the framework of Topic ASC 820. In addition, the Company has adopted written guidelines for determining the fair value of its investments for reporting in the accompanying financial statements. Under these guidelines, investment valuations are reviewed on a quarterly basis and investments without readily available market values are valued at fair value as determined by the Company. In the absence of readily ascertainable market values, the Company uses valuation techniques consistent with the market, income and cost approaches, as prescribed by Topic ASC 820, in order to estimate the fair value of investments. In all cases, the Company evaluates whether the valuation techniques used and the resultant fair value estimate is representative of what the most likely buyers of the company would also pay upon exit, and therefore, whether the value is deemed to be the price expected in an orderly transaction between market participants at the measurement date. Under Topic ASC 820, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., the "exit price") in an orderly transaction between market participants at the measurement date. Topic ASC 820 permits the Company, as a practical expedient, to estimate the fair value of investments in other investment companies based on the net asset value (NAV) per share, or its equivalent, if the NAV of such investments is calculated in a manner consistent with the measurement principles of Topic ASC 946. As such the Company's estimate of fair value for its investments in other investment companies is generally based on the NAV provided to the Company by each Investee Fund, supported by the independently audited financial statements of the Investee Fund, when available. As of December 31, 2016 and October 31, 2016, the Company did not hold any investments valued using NAV. The transaction price is typically the Company's best estimate of fair value at inception of the investment. When evidence supports a change to the carrying value from the transaction price, adjustments are made to reflect expected exit values. Ongoing reviews by the Company are based on an assessment of significant assumptions related to each underlying investment including incorporating valuations that consider the evaluation of financing and sale transactions with third parties, the financial condition and operating results of the portfolio company, achievement of technical milestones, and expected cash flows. At December 31, 2016 and October 31, 2016, the Company held one Level 1 investment, Landmark Infrastructure Partners, LP. As part of the valuation process, management may take into account the following types of factors, if relevant, in determining the fair value of the Company's investments: the enterprise value of a portfolio company (the entire value of the portfolio company to a market participant, including the sum of the values of debt and equity securities used to capitalize the enterprise at a point in time), the nature and realizable value of any collateral, the portfolio company's ability to make payments and its earnings and discounted cash flow, the markets in which the portfolio company does business, a comparison of the portfolio company's securities to any similar publicly traded securities, changes in the interest rate environment and the credit markets generally that may affect the price at which similar investments would trade in their principal markets and other relevant factors. The primary method for determining enterprise value uses a multiple analysis whereby appropriate multiples are applied to the portfolio company's net income before net interest expense, income tax expense, depreciation, and amortization. The enterprise analysis is performed to determine the value of equity investments and to determine if debt investments are credit impaired. If debt investments are credit impaired, the Company will use the enterprise value analysis or a liquidation basis analysis to determine fair value. For debt investments that are not determined to be credit impaired, the Company uses a market interest rate yield analysis to determine fair value. When an external event such as a purchase transaction, public offering or subsequent equity sale occurs, management considers the pricing indicated by the external event to corroborate its valuation. Because there is not a readily available market value for most of the investments in its portfolio, the Company values substantially all of its portfolio investments at fair value as determined in good faith by management, as described throughout this note. Due to the inherent uncertainty of determining the fair value of investments that do not have a readily available market value, the fair value of the Company's investments may fluctuate from period to period. Additionally, the fair value of the Company's investments may differ significantly from the values that would have been used had a readily available market existed for such investments and may differ materially from the values that the Company may ultimately realize. Further, such investments are generally subject to legal and other restrictions on resale or otherwise are less liquid than publicly traded securities. If the Company was required to liquidate a portfolio investment in a forced or liquidation sale, the Company could realize significantly less than the value at which the Company has recorded it. In addition, changes in the market environment and other events that may occur over the life of the investments may cause the gains or losses ultimately realized on these investments to be different than the unrealized gains or losses reflected in the valuations currently assigned. The following tables present information about the Company's assets measured at fair value on a recurring basis at December 31, 2016 and October 31, 2016. The Company assesses the levels for the investments at each measurement date, and transfers between levels are recognized on the actual date of the event or change in circumstances that caused the transfer in accordance with the Company's accounting policy regarding the recognitions of transfers between levels of the fair value hierarchy. For the two months ended December 31, 2016 and the year ended October 31, 2016, there were no transfers in or out of Level 1, 2, and 3. Assets Measured at Fair Value on a Recurring Basis at December 31, 2016: Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Balance at December 31, (Level 1) (Level 2) (Level 3) 2016 Investments: Debt Securities $ - $ - $ 22,027,880 $ 22,027,880 Equity Securities - - 915,572 915,572 Investments in Partnership Interests - - 850,000 850,000 Investment in Publicly Traded Partnerships 487,726 - - 487,726 Total $ 487,726 $ - $ 23,793,452 $ 24,281,178 Assets Measured at Fair Value on a Recurring Basis at October 31, 2016: Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Balance at October 31, (Level 1) (Level 2) (Level 3) 2016 Investments: Debt Securities $ - $ - $ 20,472,223 $ 20,472,223 Equity Securities - - 856,069 856,069 Investments in Partnership Interests - - 850,000 850,000 Investment in Publicly Traded Partnerships 529,302 - - 529,302 Total $ 529,302 $ - $ 22,178,292 $ 22,707,594 Changes in Level 3 Assets Measured at Fair Value on a Recurring Basis: Debt Securities Equity Securities Investments in Partnership Interests Total Balance at October 31, 2015 $ 14,067,446 $ 301,084 $ 1,706,233 $ 16,074,763 Purchase of investments 8,545,224 - - 8,545,224 Proceeds from principal payments and sales of investments (2,062,126 ) - (860,916 ) (2,923,042 ) Net realized gains - - 173,116 173,116 Net unrealized gains/(losses) (201,695 ) 554,985 (168,433 ) 184,857 Accretion of loan origination fees 123,74 - - 123,374 Balance at October 31, 2016 $ 20,472,223 $ 856,069 $ 850,000 $ 22,178,292 Purchase of investments $ 1,590,810 $ - $ - $ 1,590,810 Proceeds from principal payments and sales of investments (150,200 ) - - (150,200 ) Net realized gains - - - - Net unrealized gains/(losses) 42,841 59,503 - 102,344 Accretion of loan origination fees 72,206 - - 72,206 Balance at December 31, 2016 $ 22,027,880 $ 915,572 $ 850,000 $ 23,793,452 Quantitative Information About Level 3 Fair Value Measurements: Below is a table summarizing the valuation techniques, the unobservable inputs used in the valuation, along with ranges used to determine the fair value of certain Level 3 investments held at December 31, 2016 and October 31, 2016. December 31, 2016 Type of Security Fair Value Valuation Technique Unobservable Input Range (Wtd Avg) Debt Securities $ 20,929,747 Yield Analysis Market Yield 6.0 - 12.7% (9.%) $ 1,098,133 Liquidation Basis Discount Rate 14.0 - 16.5% (14.9%) Equity Securities $ 915,572 Earnings Multiple Market Comparables 2.3 - 3.8(3.1) $ - Income Approach Capitalization Rate 14.8% Investments in Partnership Interests $ 850,000 Income Approach Capitalization Rate 7.0% October 31, 2016 Type of Security Fair Value Valuation Technique Unobservable Input Range (Wtd Avg) Debt Securities $ 19,401,401 Yield Analysis Market Yield 6.0 - 12.7% (9.1%) $ 1,070,822 Liquidation Basis Discount Rate 14.0 - 16.5% (14.8%) Equity Securities $ 856,069 Earnings Multiple Market Comparables 2.3 - 3.0(2.8) $ - Income Approach Capitalization Rate 14.8% Investments in Partnership Interests $ 850,000 Income Approach Capitalization Rate 7.0% The above tables are not intended to be all-inclusive but rather to provide information on significant unobservable inputs and valuation techniques used by the Company. The significant unobservable input used in the fair value measurement of the Company's debt investments is market interest rates. The Company uses market interest rates for loans to determine if the effective yield on a loan is commensurate with the market yields for that type of loan. If a loan's effective yield is significantly less than the market yield for a similar loan with a similar credit profile, then the resulting fair value of the loan may be lower.

6. COMMITMENTS AND CONTINGENCIE

6. COMMITMENTS AND CONTINGENCIES	2 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
6. COMMITMENTS AND CONTINGENCIES	In the normal course of business, the Company may enter into commitments to invest in certain private equity funds. Under these agreements, the Company would be required to make payments to third parties upon request. The Company had no such commitments outstanding at December 31, 2016 and October 31, 2016.

7. EARNINGS PER SHARE

7. EARNINGS PER SHARE	2 Months Ended
	Dec. 31, 2016
Earnings Per Share [Abstract]
7. EARNINGS PER SHARE	The following information sets forth the computation of basic net increase in net assets per share (earnings per share) resulting from operations for the two months ended December 31, 2016 and December 31, 2015. Two months ended December 31, 2016 December 31, 2015 (unaudited) Earnings per share - basic: Net increase in net assets resulting from operations $ 252,287 $ 253,228 Weighted average shares outstanding - basic 2,479,091 2,074,568 Earnings per share - basic: $ 0.10 $ 0.12

8. DISTRIBUTIONS FROM INCOME

8. DISTRIBUTIONS FROM INCOME	2 Months Ended
	Dec. 31, 2016
Equity [Abstract]
8. DISTRIBUTIONS FROM INCOME	The Company's distributions from income and realized gains are recorded on the date declared (record date). The following table summarizes the Company's declarations and distributions during the two months ended December 31, 2016: Declaration Date Distribution Date Amount Per Share Cash Distribution 11/28/2016 11/28/2016 $0.0625 $153,901 12/27/2016 12/27/2016 $0.0625 $157,118

9. FINANCIAL HIGHLIGHTS

9. FINANCIAL HIGHLIGHTS	2 Months Ended
	Dec. 31, 2016
Financial Highlights
9. FINANCIAL HIGHLIGHTS	Two months ended December 31, 2016 December 31, 2015 (unaudited) Per Share Data: Net asset value at beginning of period $ 9.88 $ 10.18 Issuance of common stock - - Net investment income (2) 0.08 0.06 Net realized and unrealized gain (2) 0.02 0.06 Net increase in shareholder's equity 0.10 0.12 Accretive effect of share issuance above NAV (3) 0.02 - Shareholder distributions: From net investment income (0.13 ) (0.13 ) Income tax expense - - Net asset value at end of period $ 9.87 $ 10.17 Shares outstanding at end of period 2,525,040 2,278,941 Ratio/Supplemental Data: Weighted average net assets at end of period $ 24,513,267 $ 21,187,263 Total return based on net asset value (4) 1.01 % 1.18 % Ratio of gross operating expenses to average net assets (1) 4.35 % 3.90 % Waived or reimbursed expenses (1) 0.00 % -0.95 % Ratio of net operating expenses to average net assets (1) 4.35 % 2.95 % Ratio of net investment income to average net assets (1) 4.69 % 3.66 % Average debt outstanding $ 1,707,672 $ 850,504 Average debt outstanding per share (2) $ 0.69 $ 0.41 Portfolio turnover 0.65 % 3.10 % (1) The ratios have been annualized except for those expenses that are not recurring. (2) Calculated using the weighted average shares outstanding during the respective period. (3) Amounts are balancing amounts necessary to reconcile the change in net asset value per unit to the per unit information. (4) Total return based on market value is calculated assuming a purchase of common shares at the market value on the first day and a sale at the market value on the last day of the periods reported. Distributions, if any, are assumed for purposes of this calculation to be reinvested at prices obtained under the Company's distribution reinvestment plan. Total return based on market value does not reflect brokerage commissions. Return calculations are not annualized. These financial highlights may not be indicative of the future performance of the Company. Financial highlights are calculated for all outstanding common stock as a whole. An individual shareholder's return and ratios may vary.

10. RISKS AND UNCERTAINTIES

10. RISKS AND UNCERTAINTIES	2 Months Ended
	Dec. 31, 2016
Risks and Uncertainties [Abstract]
10. RISKS AND UNCERTAINTIES	The Company in the normal course of business makes investments in financial instruments where the risk of potential loss exists due to changes in the market (market risk), or failure or inability of the counterparty to a transaction to perform (credit and counterparty risk). See below for a detailed description of select principal risks. Market Risk Market risk is the company's investments in financial instruments and derivatives that expose it to various risks such as, but not limited to, interest rate, foreign currency, and equity. Interest rate risk is the risk that a fixed income investment's value will change due to a change in the absolute level of interest rates, in the spread between two rates, in the shape of the yield curve or in any other interest rate relationship. Such changes usually affect securities inversely and can be reduced by diversifying (for example, investing in fixed- income securities with different durations) or hedging (for example, through an interest rate swap). Equity Risk Equity risk is the risk that the market values of equities, such as common stocks or equity related investments such as futures and options, may decline due to general market conditions, such as political or macroeconomic factors. Additionally, equities may decline in value due to specific factors affecting a related industry or industries. Equity securities and equity related investments generally have greater market price volatility than fixed income securities. Credit and Counterparty Risk The Company is exposed to credit risk to counterparties with whom it transacts with and also bears the risk of settlement default. The company may lose money if the issuer or guarantor of a fixed income security, or the counterparty to a derivative instrument contract, repurchase agreement or securities lending is unable or unwilling to make timely principal and/or interest payments, or to otherwise honor its obligations. Securities are subject to varying degrees of credit risk, which are often reflected in credit ratings. The Company minimizes concentrations of credit risk by undertaking transactions with a diverse population of counterparties with a history of good credit quality. Further, the company manages counterparty risk by entering into appropriate legally enforceable master netting agreements, or similar agreements which include provisions for offsetting positions, collateral, or both in the event of counterparty default or nonperformance. As the Company currently holds three investments with PIK interest, we note that the interest rate and warrants received on PIK securities reflects the payment deferral and increased credit risk associated with such instruments. Such investments generally represent a significantly higher credit risk than coupon loans. We note that even if accounting conditions were met, the borrower could still default when the Company's actual collection is supposed to occur at the maturity of the obligation. PIK securities may have unreliable valuations because their continuing accruals require continuing judgments about the collectability of the deferred payments and the value of associated collateral. PIK interest has the effect of generating investment income and increasing the incentive fees payable at a compounding rate. In addition, the deferral of PIK interest also reduces the loan-to-value ratio at a compounding rate. PIK securities also create the risk that incentive fees will be paid to the Adviser based on non-cash accruals that ultimately may not be realized, but the Adviser will be under no obligation to reimburse the Company for these fees.

11. INDEMNIFICATION

11. INDEMNIFICATION	2 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
11. INDEMNIFICATION	The Company has provided general indemnifications to the Adviser, any affiliate of the Adviser and any person acting on behalf of the Adviser or such affiliate when they act, in good faith, in the best interest of the Company. The Company is unable to develop an estimate of the maximum potential amount of future payments that could potentially result from any hypothetical future claim, but expects the risk of having to make any payments under these general business indemnifications to be remote.

12. SUBSEQUENT EVENTS

12. SUBSEQUENT EVENTS	2 Months Ended
	Dec. 31, 2016
Subsequent Events [Abstract]
12. SUBSEQUENT EVENTS	For the purpose of issuing these financial statements, the Company evaluated events and transactions through the date the financial statements were issued. The Company continued to pay its monthly distribution of $0.0625 per share. On February 14, 2017, the Company filed a tender offer to purchase up to 61,262 shares of its issued and outstanding Common Stock, par value $0.0001, at $9.88 per share, which represents the Company's net asset value per share as of the quarter ended October 31, 2016. The tender offer expired on March 15, 2017 and $605,273 of redemptions were paid on March 20, 2017. On February 21, 2017, the Company received a partial principal payment of $297,449 related to it's promissory note with NC Foundation. On February 28, 2017 the Company received a payoff of $1,340,000 related to its promissory note with Monarch Lincoln Meadows, LLC. On March 10, 2017, the Company purchased Class B membership interest in 860 Potomac, LLC. On March 3, 2017, the Board of Directors determined that shareholder approval would be requested in order to convert the Company from a BDC to a private real estate investment trust ("REIT"). On April 12, 2017, the Company delivered a proxy statement to its shareholder of record as of March 20, 2017, seeking approval to withdraw the Company's registration as a BDC so that it may convert to a REIT. At an Annual Meeting of the Shareholder on April 25, 2017, the shareholders of the Company approved the withdrawal of the Company's BDC election and conversion to a REIT. Additionally, on March 20, 2017, the Board of Directors approved a change in the Company's fiscal year end from October 31st to December 31st in anticipation of qualifying as a REIT. The shareholders also re-elected all Board members. Through May 4, 2017, the Company received $8,332,000 in proceeds and made payments of $9,314,000 on its line of credit. The outstanding amount under the line of credit as of May 4, 2017 is $718,000. As of May 4, 2017, the Company has not received principal payments related to its investments in TVO North America, LLC 1 and TVO North America, LLC 2 that were due in March 2017.

2. SIGNIFICANT ACCOUNTING POL21

2. SIGNIFICANT ACCOUNTING POLICIES (Policies)	2 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Basis of Accounting	The accompanying financial statements of the Company and related financial information have been prepared in accordance with generally accepted accounting principles in the United States of America ("GAAP") and pursuant to the requirements for reporting on Form 10-Q and Articles 6 or 10 of Regulation S-X. The Company has determined it meets the definition of an investment company and follows the accounting and reporting guidance in the Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 946—Financial Services—Investment Companies ("ASC Topic 946"). In the opinion of management, the financial statements reflect all adjustments and reclassifications that are necessary for the fair presentation of financial results as of and for the periods presented.
Use of Estimates	Financial statements prepared on a GAAP basis require management to make estimates and assumptions that affect the amounts and disclosures reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Such estimates and assumptions could change in the future as more information becomes known, which could impact the amounts reported and disclosed herein. Investment valuation represents a significant estimate within these financial statements.
Cash and Cash Equivalents	The Company deposits its cash in financial institutions and, at times, such balances may be in excess of the Federal Deposit Insurance Corporation insurance limits; however, management does not believe it is exposed to any significant credit risk.
Fair Value of Investments	The Company's fair value accounting policies adhere to the provisions of FASB ASC Topic 820, Fair Value Measurements and Disclosures ("Topic ASC 820"). Topic ASC 820 establishes a fair value hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are those that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Company. Unobservable inputs reflect the Company's assumption about the inputs market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The fair value hierarchy is categorized into three levels based on the inputs as follows: Level 1 -Valuations based on unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. Valuation adjustments and block discounts are not applied to Level 1 securities. Since valuations are based on quoted prices that are readily and regularly available in an active market, valuation of these securities does not entail a significant degree of judgment. Level 2 -Valuations based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly. Level 3 -Valuations based on inputs that are unobservable and significant to the overall fair value measurement. To the extent that the valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Those estimated values do not necessarily represent the amounts that may be ultimately realized due to the occurrence of future circumstances that cannot be reasonably determined. Because of the inherent uncertainty of valuation, those estimated values may be materially higher or lower than the values that would have been used had a ready market for the securities existed. Accordingly, the degree of judgment exercised by the Company in determining fair value is greatest for securities categorized in Level 3. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety is determined by the lowest level input that is significant to the fair value measurement. Fair value is a market-based measure considered from the perspective of a market participant rather than an entity-specific measure. Therefore, even when market assumptions are not readily available, the Company's own assumptions are set to reflect those that market participants would use in pricing the asset or liability at the measurement date. See further description of fair value methodology in Note 5.
Revenue Recognition	Investments and related investment income: Interest income is accrued based upon the outstanding principal amount and contractual interest terms of debt investments. For the two months ended December 31, 2016 and December 31, 2015, the Company earned interest income of $357,201 and $227,421 (including $12,783 and $10,702 in interest on investments from affiliate company), respectively. As of December 31, 2016 and October 31, 2016, the Company had interest receivable of $1,220,196 and $1,032,000, respectively. The Company had no allowances on interest receivable balances as of December 31, 2016 and October 31, 2016. Fee income such as loan origination, closing, commitment, structuring and other upfront fees is capitalized, and the Company accretes or amortizes such amounts over the life of the loan as net interest on investments. For the two months ended December 31, 2016 and 2015, interest income included $72,206 and $7,716, respectively, of accretion of loan origination fees. For the two months ended December 31, 2016 and 2015, the Company received fee income of $28,190 and $0, respectively. Investment transactions are accounted for on a trade-date basis. Realized gains or losses on investments are measured by the difference between the net proceeds from the disposition and the cost basis of investment, without regard to unrealized gains or losses previously recognized. The Company reports current period changes in fair value of investments that are measured at fair value as a component of the net change in unrealized appreciation (depreciation) on investments in the Statements of Operations. For investments with contractual payment-in-kind ("PIK") interest, which represents contractual interest accrued and added to the principal balance that generally becomes due at maturity, the Company will not accrue PIK interest if the portfolio company valuation indicates that the PIK interest is not collectible. For the period ended December 31, 2016 and the year ended October 31, 2016, the Company held three investments, Ajubeo, LLC, Northstar Portfolio, LLC and 5500 South Quebec Holdings, LLC with contractual PIK interest. As of December 31, 2016, the balance of accrued PIK interest related to these investments was $64,656, $302,470, and $443,525, respectively. As of October 31, 2016 the balance of accrued PIK interest related to these investments was $59,066, $260,852, and $383,720, respectively. All PIK interest amounts are recorded within the interest receivable balances as of December 31, 2016 and October 31, 2016. The Company notes that investments held with PIK interest do not have cash interest rates. Dividend income from investments in other investment companies is recorded as dividend income on an accrual basis to the extent that such amounts are payable by the investment company and are expected to be collected. Each distribution received from limited liability company ("LLC") and limited partnership ("LP") investments is evaluated to determine if the distribution should be recorded as dividend income or a return of capital. Generally, the Company will not record distributions from equity investments in LLCs and LPs as dividend income unless there are sufficient accumulated tax-basis earnings and profits in the LLC or LP prior to the distribution. Distributions that are classified as a return of capital are recorded as a reduction in the cost basis of the investment. For the two months ended December 31, 2016 and December 31, 2015, the Company recorded dividend income of $10,794 and $5,904, respectively. Non-accrual loans: A loan may be left on accrual status during the period the Company is pursuing repayment of the loan. Management reviews all loans that become 90 days or more past due on principal and interest, or when there is reasonable doubt that principal or interest will be collected, for possible placement on non-accrual status. When a loan is placed on non-accrual status, unpaid interest credited to income is reversed. Additionally, any original issue discount and market discount are no longer accreted to interest income as of the date the loan is placed on non-accrual status. Interest payments received on non-accrual loans may be recognized as income or applied to principal depending upon management's judgment. Non-accrual loans are restored to accrual status when past due principal and interest is paid and, in management's judgment, are likely to remain current. There were three non-accrual loans held as of December 31, 2016 and October 31, 2016 (Aequitas Commercial Finance, LLC, Aequitas Peer-To-Peer Funding, LLC, and Care Payment Holdings, LLC) with a total fair value of $1,098,133 and $1,070,822, respectively, and cost of $1,626,500 for both periods. Partial loan sales: The Company follows the guidance in FASB ASC Topic 860 when accounting for loan participations and other partial loan sales. Such guidance requires a participation or other partial loan sale to meet the definition of a "participating interest", as defined in the guidance, in order for sale treatment to be allowed. Participations or other partial loan sales which do not meet the definition of a participating interest remain on the Company's Statements of Assets, Liabilities and Net Assets and the proceeds are recorded as a secured borrowing until the definition is met. Secured borrowings are carried at fair value to correspond with the related investments, which are carried at fair value. For the two months ended December 31, 2016 and 2015, there were no partial loan sales which met the definition of a participating interest to a related party.
Income Taxes	The Company has elected to be treated as a BDC under the 1940 Act. The Company elected to be treated as a RIC under the Internal Revenue Code beginning with the tax year ended October 31, 2015. Such election was made upon the filing of the Company's first federal tax return for RIC purposes. In order to continue to qualify as a RIC, among other things, the Company must meet certain source of income and asset diversification requirements and timely distribute to its stockholders at least 90% of investment company taxable income, as defined by the Code, for each tax year. The Company has made, and intends to continue to make, the requisite distributions to its stockholders, which generally relieves the Company from U.S. federal income taxes with respect to all income distributed to its stockholders. So long as the Company maintains its status as a RIC, it will generally not pay corporate-level U.S. federal income or excise taxes on any ordinary income or capital gains that it distributes at least annually to its stockholders as distributions of income. As a result, any tax liability related to income earned and distributed by the Company represents obligations of the Company's stockholders and will not be reflected in the financial statements of the Company. As a RIC, the Company is subject to a 4% nondeductible federal excise tax on certain undistributed income unless the Company distributes in a timely manner an amount at least equal to the sum of (i) 98.0% of ordinary income for each calendar year, (ii) 98.2% of capital gain net income for the one-year period ending October 31 in that calendar year, and (iii) any income realized, but not distributed, in the preceding year. The Company will not be subject to excise taxes on amounts on which the Company is required to pay corporate income tax (such as retained net capital gains). The Company currently intends to make sufficient distributions each taxable year to satisfy the Excise Tax Avoidance Requirement. For the two months ended December 31, 2016 and December 31, 2015, there were no amounts recorded for U.S. federal excise tax. The Company accounts for income taxes in conformity with ASC Topic 740 — Income Taxes ("ASC Topic 740"). ASC Topic 740 provides guidelines for how uncertain tax positions should be recognized, measured, presented and disclosed in financial statements. ASC Topic 740 requires the evaluation of tax positions taken in the course of preparing the Company's tax returns to determine whether the tax positions are "more-likely-than-not" to be sustained by the applicable tax authority. Tax benefits of positions not deemed to meet the more-likely-than-not threshold would be recorded as a tax expense in the current year. It is the Company's policy to recognize accrued interest and penalties related to uncertain tax benefits in income tax expense. As of and during the two months ended December 31, 2016, the Company did not have any unrecognized tax benefits. All tax years since inception remain subject to examination by U.S. federal and most state tax authorities. For the tax year ended October 31, 2016, the Company did not meet the RIC income test. However, the Company believes that it is more than 50 percent likely to satisfy the relief requirement with the IRS. Accordingly, it has recorded a federal income tax expense in the amount of $125,508 which is reflected in the Company's Statements of Operations for the year ended October 31, 2016. If the Company is not able to satisfy the relief requirement with the IRS, it will not be considered RIC for its tax year ended October 31, 2016. Refer to the October 31, 2016 form 10-K for the Company's full income tax footnote for the tax year ended October 31, 2016. As of the quarter ended January 31, 2017, the Company met the asset diversification requirements as stated in Internal Revenue code section 851. While it is the Company's intention to qualify as a RIC, management does not believe that the Company will satisfy the gross income test as of its tax year-end and be taxed as a C-Corp. The Company is in the process of transitioning its structure and will determine the tax due at the time it determines the appropriate change in tax year-end. At this time, the Company has not changed its tax year-end and the result of that change will be the determining factor in exactly how much, if any tax is due. As of December 31, 2016, management of the Company does not believe a liability for income taxes is needed as the event that triggers the liability has not occurred. If a liability were to be recorded as of December 31, 2016 approximately $88,000 would be included as an income tax liability and income tax expense on the statement of operations.
Distributions	Distributions to common stockholders are recorded on the record date. The amount to be paid out as a distribution is determined by the Board each quarter and is generally based upon the earnings estimated by management. Net realized capital gains, if any, are distributed at least annually, although the Company may decide to retain such capital gains for investment. During the two months ended December 31, 2016 and 2015, there were total distributions of $311,019 and $264,531, respectively.
Redemptions of Common Stock	As the Company's common stock is currently not sold in a publicly traded marketplace, the Company has limited its redemption of common stock to 2.5% of the weighted average number of shares outstanding in the prior four calendar quarters. All redemptions of common stock must be formally requested by the shareholder.

4. RELATED PARTY TRANSACTIONS22

4. RELATED PARTY TRANSACTIONS AND AGREEMENTS (Tables)	2 Months Ended
	Dec. 31, 2016
Related Party And Agreements Tables
Schedule of Related Party Transactions	Date Reimbursed Waiver Amount Operating Expenses Refunded Remaining Waiver Amount Expiration Date June 30, 2014 $ 121,939 $ - $ 121,939 June 30, 2017 October 31, 2014 55,091 (28,817 ) 26,274 October 31, 2017 January 31, 2015 77,836 - 77,836 January 31, 2018 April 30, 2015 49,943 - 49,943 April 30, 2018 July 31, 2015 15,643 - 15,643 July 31, 2018 October 31, 2015 16,920 - 16,920 October 31, 2018 January 31, 2016 78,196 - 78,196 January 31, 2019 October 31, 2016 21,758 - 21,758 October 31, 2019 $ 437,326 $ (28,817 ) $ 408,509

5. FAIR VALUE OF INVESTMENTS (T

5. FAIR VALUE OF INVESTMENTS (Tables)	2 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Assets Measured at Fair Value on a Recurring Basis	Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Balance at December 31, (Level 1) (Level 2) (Level 3) 2016 Investments: Debt Securities $ - $ - $ 22,027,880 $ 22,027,880 Equity Securities - - 915,572 915,572 Investments in Partnership Interests - - 850,000 850,000 Investment in Publicly Traded Partnerships 487,726 - - 487,726 Total $ 487,726 $ - $ 23,793,452 $ 24,281,178 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Balance at October 31, (Level 1) (Level 2) (Level 3) 2016 Investments: Debt Securities $ - $ - $ 20,472,223 $ 20,472,223 Equity Securities - - 856,069 856,069 Investments in Partnership Interests - - 850,000 850,000 Investment in Publicly Traded Partnerships 529,302 - - 529,302 Total $ 529,302 $ - $ 22,178,292 $ 22,707,594
Changes in Level 3 Assets Measured at Fair Value on a Recurring Basis	Debt Securities Equity Securities Investments in Partnership Interests Total Balance at October 31, 2015 $ 14,067,446 $ 301,084 $ 1,706,233 $ 16,074,763 Purchase of investments 8,545,224 - - 8,545,224 Proceeds from principal payments and sales of investments (2,062,126 ) - (860,916 ) (2,923,042 ) Net realized gains - - 173,116 173,116 Net unrealized gains/(losses) (201,695 ) 554,985 (168,433 ) 184,857 Accretion of loan origination fees 123,74 - - 123,374 Balance at October 31, 2016 $ 20,472,223 $ 856,069 $ 850,000 $ 22,178,292 Purchase of investments $ 1,590,810 $ - $ - $ 1,590,810 Proceeds from principal payments and sales of investments (150,200 ) - - (150,200 ) Net realized gains - - - - Net unrealized gains/(losses) 42,841 59,503 - 102,344 Accretion of loan origination fees 72,206 - - 72,206 Balance at December 31, 2016 $ 22,027,880 $ 915,572 $ 850,000 $ 23,793,452
Quantitative Information About Level 3 Fair Value Measurements	December 31, 2016 Type of Security Fair Value Valuation Technique Unobservable Input Range (Wtd Avg) Debt Securities $ 20,929,747 Yield Analysis Market Yield 6.0 - 12.7% (9.%) $ 1,098,133 Liquidation Basis Discount Rate 14.0 - 16.5% (14.9%) Equity Securities $ 915,572 Earnings Multiple Market Comparables 2.3 - 3.8(3.1) $ - Income Approach Capitalization Rate 14.8% Investments in Partnership Interests $ 850,000 Income Approach Capitalization Rate 7.0% October 31, 2016 Type of Security Fair Value Valuation Technique Unobservable Input Range (Wtd Avg) Debt Securities $ 19,401,401 Yield Analysis Market Yield 6.0 - 12.7% (9.1%) $ 1,070,822 Liquidation Basis Discount Rate 14.0 - 16.5% (14.8%) Equity Securities $ 856,069 Earnings Multiple Market Comparables 2.3 - 3.0(2.8) $ - Income Approach Capitalization Rate 14.8% Investments in Partnership Interests $ 850,000 Income Approach Capitalization Rate 7.0%

7. EARNINGS PER SHARE (Tables)

7. EARNINGS PER SHARE (Tables)	2 Months Ended
	Dec. 31, 2016
Earnings Per Share [Abstract]
Computation of basic earnings per share	Two months ended December 31, 2016 December 31, 2015 (unaudited) Earnings per share - basic: Net increase in net assets resulting from operations $ 252,287 $ 253,228 Weighted average shares outstanding - basic 2,479,091 2,074,568 Earnings per share - basic: $ 0.10 $ 0.12

8. DISTRIBUTIONS FROM INCOME (T

8. DISTRIBUTIONS FROM INCOME (Tables)	2 Months Ended
	Dec. 31, 2016
Equity [Abstract]
Schedule of Distributions	Declaration Date Distribution Date Amount Per Share Cash Distribution 11/28/2016 11/28/2016 $0.0625 $153,901 12/27/2016 12/27/2016 $0.0625 $157,118

9. FINANCIAL HIGHLIGHTS (Tables

9. FINANCIAL HIGHLIGHTS (Tables)	2 Months Ended
	Dec. 31, 2016
Financial Highlights Tables
Summary of financial highlights	Two months ended December 31, 2016 December 31, 2015 (unaudited) Per Share Data: Net asset value at beginning of period $ 9.88 $ 10.18 Issuance of common stock - - Net investment income (2) 0.08 0.06 Net realized and unrealized gain (2) 0.02 0.06 Net increase in shareholder's equity 0.10 0.12 Accretive effect of share issuance above NAV (3) 0.02 - Shareholder distributions: From net investment income (0.13 ) (0.13 ) Income tax expense - - Net asset value at end of period $ 9.87 $ 10.17 Shares outstanding at end of period 2,525,040 2,278,941 Ratio/Supplemental Data: Weighted average net assets at end of period $ 24,513,267 $ 21,187,263 Total return based on net asset value (4) 1.01 % 1.18 % Ratio of gross operating expenses to average net assets (1) 4.35 % 3.90 % Waived or reimbursed expenses (1) 0.00 % -0.95 % Ratio of net operating expenses to average net assets (1) 4.35 % 2.95 % Ratio of net investment income to average net assets (1) 4.69 % 3.66 % Average debt outstanding $ 1,707,672 $ 850,504 Average debt outstanding per share (2) $ 0.69 $ 0.41 Portfolio turnover 0.65 % 3.10 % (1) The ratios have been annualized except for those expenses that are not recurring. (2) Calculated using the weighted average shares outstanding during the respective period. (3) Amounts are balancing amounts necessary to reconcile the change in net asset value per unit to the per unit information. (4) Total return based on market value is calculated assuming a purchase of common shares at the market value on the first day and a sale at the market value on the last day of the periods reported. Distributions, if any, are assumed for purposes of this calculation to be reinvested at prices obtained under the Company's distribution reinvestment plan. Total return based on market value does not reflect brokerage commissions. Return calculations are not annualized.

2. SIGNIFICANT ACCOUNTING POL27

2. SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	2 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Oct. 31, 2016
Accounting Policies [Abstract]
Interest income	$ 344,418	$ 216,719
Interest on investments from affiliate company	12,783	10,702
Interest receivable	1,220,196		$ 1,032,000
Loan origination fees	72,206	7,716
Revenue from loan origination fees	28,190	0
Dividend income	10,794	5,904
Partial loan sales to an unrelated third party	0	0
Total distributions	$ 311,019	$ 264,531

3. BORROWINGS (Details Narrativ

3. BORROWINGS (Details Narrative) - USD ($)	Dec. 31, 2016	Oct. 31, 2016
Borrowings Details Narrative
Line of credit	$ 1,714,658	$ 1,700,687
Company's asset coverage	1553.00%	1529.00%

4. RELATED PARTY TRANSACTIONS29

4. RELATED PARTY TRANSACTIONS AND AGREEMENTS (Details)	2 Months Ended
	Dec. 31, 2016USD ($)
Waiver Amount	$ 437,326
Operating Expenses Refunded	(28,817)
Remaining Waiver Amount	408,509
June 30, 2014 [Member]
Waiver Amount	121,939
Operating Expenses Refunded	0
Remaining Waiver Amount	$ 121,939
Expiration date	Jun. 30, 2017
October 31, 2014 [Member]
Waiver Amount	$ 55,091
Operating Expenses Refunded	(28,817)
Remaining Waiver Amount	$ 26,274
Expiration date	Oct. 31, 2017
January 31, 2015 [Member]
Waiver Amount	$ 77,836
Operating Expenses Refunded	0
Remaining Waiver Amount	$ 77,836
Expiration date	Jan. 31, 2018
April 30, 2015 [Member]
Waiver Amount	$ 49,943
Operating Expenses Refunded	0
Remaining Waiver Amount	$ 49,943
Expiration date	Apr. 30, 2018
July 31, 2015 [Member]
Waiver Amount	$ 15,643
Operating Expenses Refunded	0
Remaining Waiver Amount	$ 15,643
Expiration date	Jul. 31, 2018
October 31, 2015 [Member]
Waiver Amount	$ 16,920
Operating Expenses Refunded	0
Remaining Waiver Amount	$ 16,920
Expiration date	Oct. 31, 2018
January 31, 2016 [Member]
Waiver Amount	$ 78,196
Operating Expenses Refunded	0
Remaining Waiver Amount	$ 78,196
Expiration date	Jan. 31, 2019
October 31, 2016 [Member]
Waiver Amount	$ 21,758
Operating Expenses Refunded	0
Remaining Waiver Amount	$ 21,758
Expiration date	Oct. 31, 2019

4. RELATED PARTY TRANSACTIONS30

4. RELATED PARTY TRANSACTIONS AND AGREEMENTS (Details Narrative) - USD ($)	2 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Oct. 31, 2016
Related Party And Agreements Details Narrative
Base management fees	$ 66,245	$ 57,434
Incentive Fee	0	0
Custody fees	6,625	5,743
Operating expenses reimbursed	0	$ 33,639
Due to Adviser	$ 240,759		$ 168,694

5. FAIR VALUE OF INVESTMENTS (D

5. FAIR VALUE OF INVESTMENTS (Details) - USD ($)	Dec. 31, 2016	Oct. 31, 2016
Investments:
Debt Securities	$ 22,027,880	$ 20,472,223
Equity Securities	915,572	856,069
Investment in Partnership Interests	850,000	850,000
Investment in Other Investment Companies	487,726	529,302
Total	24,281,178	22,707,594
Quoted Prices in Active Markets for Identical Assets (Level 1)
Investments:
Debt Securities	0	0
Equity Securities	0	0
Investment in Partnership Interests	0	0
Investment in Other Investment Companies	487,726	529,302
Total	487,726	529,302
Significant Other Observable Inputs (Level 2)
Investments:
Debt Securities	0	0
Equity Securities	0	0
Investment in Partnership Interests	0	0
Investment in Other Investment Companies	0	0
Total	0	0
Significant Unobservable Inputs (Level 3)
Investments:
Debt Securities	22,027,880	20,472,223
Equity Securities	915,572	856,069
Investment in Partnership Interests	850,000	850,000
Investment in Other Investment Companies	0	0
Total	$ 23,793,452	$ 22,178,292

5. FAIR VALUE OF INVESTMENTS 32

5. FAIR VALUE OF INVESTMENTS (Details 1) - USD ($)	2 Months Ended		12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Oct. 31, 2016
Fair value balance, beginning	$ 22,178,292	$ 16,074,763	$ 16,074,763
Purchases of investments	1,590,810		8,545,224
Proceeds from principal payments and sales of investments	(150,200)		(2,923,042)
Net realized gains	0	98,983	173,116
Net unrealized gains/(losses)	102,344		184,857
Acretion of loan origination fees	72,206		123,374
Fair value balance, ending	23,793,452		22,178,292
Debt Securities
Fair value balance, beginning	20,472,223	14,067,446	14,067,446
Purchases of investments	1,590,810		8,545,224
Proceeds from principal payments and sales of investments	(150,200)		(2,062,126)
Net realized gains	0		0
Net unrealized gains/(losses)	42,841		(201,695)
Acretion of loan origination fees	72,206		123,374
Fair value balance, ending	22,027,880		20,472,223
Equity Securities
Fair value balance, beginning	856,069	301,084	301,084
Purchases of investments	0		0
Proceeds from principal payments and sales of investments	0		0
Net realized gains	0		0
Net unrealized gains/(losses)	59,503		554,985
Acretion of loan origination fees	0		0
Fair value balance, ending	915,572		856,069
Investment in Partnership Interests
Fair value balance, beginning	850,000	$ 1,706,233	1,706,233
Purchases of investments	0		0
Proceeds from principal payments and sales of investments	0		(860,916)
Net realized gains	0		173,116
Net unrealized gains/(losses)	0		(168,433)
Acretion of loan origination fees	0		0
Fair value balance, ending	$ 850,000		$ 850,000

5. FAIR VALUE OF INVESTMENTS 33

5. FAIR VALUE OF INVESTMENTS (Details 2) - USD ($)	2 Months Ended	12 Months Ended
	Dec. 31, 2016	Oct. 31, 2016	Oct. 31, 2015
Fair value	$ 23,793,452	$ 22,178,292	$ 16,074,763
Debt Securities
Fair value	$ 22,027,880	$ 20,472,223	14,067,446
Valuation Technique	Yield Analysis	Yield Analysis
Unobservable Input	Market Yield	Market Yield
Range (Wtd Avg)	6.0 - 12.7% (9%)	6.0 - 12.7% (9.1%)
Equity Securities
Fair value	$ 915,572	$ 856,069	301,084
Valuation Technique	Earnings Multiple	Earnings Multiple
Unobservable Input	Market Comparables	Market Comparables
Range (Wtd Avg)	2.3 - 3.8(3.1)	2.3 - 3.0(2.8)
Investments in Partnership interests
Fair value	$ 850,000
Investment in Partnership Interests
Fair value	$ 850,000	$ 850,000	$ 1,706,233
Valuation Technique	Income Approach	Income Approach
Unobservable Input	Capitalization Rate	Capitalization Rate
Range (Wtd Avg)	7.0%	7.0%

6. COMMITMENTS AND CONTINGENC34

6. COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($)	Dec. 31, 2016	Oct. 31, 2016
Commitments And Contingencies Details Narrative
Commitments	$ 0	$ 0

7. EARNINGS PER SHARE (Details)

7. EARNINGS PER SHARE (Details) - USD ($)	2 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Earnings per share - basic and diluted:
Net increase in net assets resulting from operations	$ 252,287	$ 253,228
Weighted average shares outstanding - basic	2,479,091	2,074,568
Earnings per share - basic	$ .10	$ 0.12

8. DISTRIBUTIONS FROM INCOME (D

8. DISTRIBUTIONS FROM INCOME (Details) - USD ($)	2 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Amount Per Share	$ 0.13	$ 0.13
Distribution 1
Declaration Date	Nov. 28, 2016
Distribution Date	Nov. 28, 2016
Amount Per Share	$ .0625
Cash Distribution	$ 153,901
Distribution 2
Declaration Date	Dec. 27, 2016
Distribution Date	Dec. 27, 2016
Amount Per Share	$ .0625
Cash Distribution	$ 157,118

9. FINANCIAL HIGHLIGHTS (Detail

9. FINANCIAL HIGHLIGHTS (Details) - USD ($)		2 Months Ended
		Dec. 31, 2016	Dec. 31, 2015
Per Share Data:
Net asset value at beginning of period		$ 9.88	$ 10.18
Issuance of common stock		0	0
Net investment income	[1]	0.08	0.06
Net realized and unrealized gain	[1]	0.02	0.06
Net increase in shareholders' equity		0.10	0.12
Accretive effect of share issuance above NAV	[2]	0.02	0
Shareholder distributions:
From net investment income		(0.13)	(0.13)
Income tax expense		0	0
Net asset value at end of period		$ 9.87	$ 10.17
Shares outstanding at end of period		2,525,040	2,278,941
Ratio/Supplemental Data:
Weighted average net assets at end of period		$ 24,513,267	$ 21,187,263
Total return based on net asset value	[3]	1.01%	1.18%
Ratio of gross operating expenses to average net assets	[4]	4.35%	3.90%
Waived or reimbursed expenses	[4]	0.00%	(0.95%)
Ratio of net operating expenses to average net assets	[4]	4.35%	2.95%
Ratio of net investment income to average net assets	[4]	4.69%	3.66%
Average debt outstanding		$ 1,707,672	$ 850,504
Average debt outstanding per share	[1]	$ 0.69	$ 0.41
Portfolio turnover		0.65%	3.10%
[1]	Calculated using the weighted average shares outstanding during the respective period.
[2]	Amounts are balancing amounts necessary to reconcile the change in net asset value per unit to the per unit information.
[3]	Total return based on market value is calculated assuming a purchase of common shares at the market value on the first day and a sale at the market value on the last day of the periods reported. Distributions, if any, are assumed for purposes of this calculation to be reinvested at prices obtained under the Company's distribution reinvestment plan. Total return based on market value does not reflect brokerage commissions. Return calculations are not annualized.
[4]	The ratios have been annualized except for those expenses that are not recurring.