Cover
Cover - shares | 6 Months Ended | |
Sep. 30, 2021 | Nov. 15, 2021 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Sep. 30, 2021 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2022 | |
Current Fiscal Year End Date | --03-31 | |
Entity File Number | 000-50390 | |
Entity Registrant Name | KYTO TECHNOLOGY AND LIFE SCIENCE, INC. | |
Entity Central Index Key | 0001164888 | |
Entity Tax Identification Number | 65-1086538 | |
Entity Incorporation, State or Country Code | DE | |
Entity Address, Address Line One | 13050 Paloma Road | |
Entity Address, City or Town | Los Altos Hills | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 94022 | |
City Area Code | (650) | |
Local Phone Number | 204 7896 | |
Title of 12(b) Security | Common stock | |
Trading Symbol | KBPH | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 13,287,621 |
Condensed Statements of Assets
Condensed Statements of Assets and Liabilities - USD ($) | Sep. 30, 2021 | Mar. 31, 2021 |
ASSETS | ||
Investments at fair value (cost of $7,904,636 and $5,686,545, respectively) | $ 10,442,813 | $ 6,821,407 |
Cash | 316,124 | 1,437,868 |
Other current assets | 230,434 | 169,891 |
Total Assets | 10,989,371 | 8,429,166 |
Liabilities | ||
Accounts payable and accrued liabilities | 84,477 | 193,141 |
Accrued liabilities - related parties | 87,000 | 51,420 |
Common stock subscription liability | 1,191,442 | |
Total Liabilities | 171,477 | 1,436,003 |
Commitments and Contingencies (Note 3) | ||
Net Assets | ||
Preferred stock, value | ||
Common stock, $.01 par value, 40,000,000 shares authorized, 13,287,621 and 9,983,082 issued and outstanding as of September 30, 2021 and March 31 2021, respectively | 132,876 | 99,831 |
Additional paid-in capital | 42,878,748 | 39,772,228 |
Accumulated deficit | (32,294,845) | (32,957,186) |
Total Net Assets | 10,817,894 | 6,993,163 |
Total Liabilities and Net Assets | 10,989,371 | 8,429,166 |
Series A Preferred Stock [Member] | ||
Net Assets | ||
Preferred stock, value | 42,001 | 42,001 |
Series B Preferred Stock [Member] | ||
Net Assets | ||
Preferred stock, value | $ 59,114 | $ 36,289 |
Condensed Statements of Asset_2
Condensed Statements of Assets and Liabilities (Parenthetical) - USD ($) | Sep. 30, 2021 | Mar. 31, 2021 |
Investments at fair value | $ 7,904,636 | $ 5,686,545 |
Preferred Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 |
Preferred Stock, Shares Authorized | 19,800,000 | 19,800,000 |
Preferred Stock, Shares Issued | 0 | 0 |
Preferred Stock, Shares Outstanding | 0 | 0 |
Common Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 |
Common Stock, Shares Authorized | 40,000,000 | 40,000,000 |
Common Stock, Shares, Issued | 13,287,621 | 9,983,082 |
Common Stock, Shares, Outstanding | 13,287,621 | 9,983,082 |
Series A Preferred Stock [Member] | ||
Preferred Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 |
Preferred Stock, Shares Authorized | 4,200,000 | 4,200,000 |
Preferred Stock, Shares Issued | 4,200,000 | 4,200,000 |
Preferred Stock, Shares Outstanding | 4,200,000 | 4,200,000 |
Preferred Stock, Liquidation Preference, Value | $ 6,720,000 | $ 6,720,000 |
Series B Preferred Stock [Member] | ||
Preferred Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 |
Preferred Stock, Shares Authorized | 6,000,000 | 6,000,000 |
Preferred Stock, Shares Issued | 5,911,406 | 3,628,906 |
Preferred Stock, Shares Outstanding | 5,911,406 | 3,628,906 |
Preferred Stock, Liquidation Preference, Value | $ 9,458,250 | $ 5,806,250 |
Condensed Statements of Operati
Condensed Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
INVESTMENT INCOME | ||||
Interest and other income | $ 500 | |||
Total investment income | 500 | |||
EXPENSES | ||||
Professional fees | 107,201 | 63,605 | 273,359 | 76,543 |
Other operating expenses | 245,519 | 96,506 | 466,027 | 122,936 |
Interest and non operating expenses | 1,596 | 1,588 | ||
Total expenses | 354,316 | 160,111 | 740,974 | 199,479 |
Net investment loss | (354,316) | (160,111) | (740,974) | (198,979) |
Net change in unrealized gain from investments | 1,350,449 | 478,248 | 1,403,315 | 478,248 |
Net increase in net assets resulting from operations | $ 996,133 | $ 318,137 | $ 662,341 | $ 279,269 |
Basic earnings per Common Share, | ||||
Net increase in net assets resulting from operations per common share | $ 0.08 | $ 0.05 | $ 0.05 | $ 0.05 |
Weighted average common shares outstanding | 13,271,996 | 5,836,832 | 13,269,764 | 5,836,832 |
Fully-diluted earnings per Common Share, | ||||
Net increase in net assets resulting from operations per common share | $ 0.04 | $ 0.02 | $ 0.03 | $ 0.02 |
Weighted average common shares outstanding | 27,338,695 | 17,987,040 | 26,263,218 | 17,058,856 |
Condensed Statements of Changes
Condensed Statements of Changes in Net Assets (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Mar. 31, 2021 | |
Balance | $ 8,537,246 | $ 3,004,791 | $ 6,993,163 | $ 2,667,611 | $ 2,667,611 |
Net increase in net assets resulting from operations | 996,133 | 318,137 | 662,341 | 279,269 | |
Sale of Series B Preferred stock at $0.80 per share | 1,273,000 | 895,000 | 1,826,001 | 1,270,000 | |
Sale of common stock at $0.40 per share | 1,314,317 | ||||
Exerrcise of stock options | $ 618 | $ 618 | |||
Exercise of stock options, shares | 18,750 | 18,750 | |||
Compensation expense from stock options | $ 10,897 | 12,803 | $ 21,454 | 13,851 | |
Balance | 10,817,894 | 4,230,731 | 10,817,894 | 4,230,731 | 6,993,163 |
Preferred Stock [Member] | |||||
Balance | $ 42,001 | $ 42,001 | $ 42,001 | $ 42,001 | $ 42,001 |
Balance, shares | 4,200,000 | 42,000,000 | 4,200,000 | 42,000,000 | 42,000,000 |
Net increase in net assets resulting from operations | |||||
Sale of Series B Preferred stock at $0.80 per share | |||||
Compensation expense from stock options | |||||
Balance | $ 42,001 | $ 42,001 | $ 42,001 | $ 42,001 | $ 42,001 |
Balance, shares | 4,200,000 | 42,000,000 | 4,200,000 | 42,000,000 | 4,200,000 |
Preferred B Stock [Member] | |||||
Balance | $ 43,202 | $ 12,188 | $ 36,289 | $ 8,125 | $ 8,125 |
Balance, shares | 4,320,156 | 1,281,250 | 3,628,906 | 812,500 | 812,500 |
Net increase in net assets resulting from operations | |||||
Sale of Series B Preferred stock at $0.80 per share | $ 15,912 | $ 11,187 | $ 22,825 | $ 15,250 | |
Stock Issued During Period, Shares, New Issues | 1,591,250 | 1,056,250 | 2,282,500 | 1,525,000 | |
Compensation expense from stock options | |||||
Balance | $ 59,114 | $ 23,375 | $ 59,114 | $ 23,375 | $ 36,289 |
Balance, shares | 5,911,406 | 2,337,500 | 5,911,406 | 2,337,500 | 3,628,906 |
Common Stock [Member] | |||||
Balance | $ 132,689 | $ 58,368 | $ 99,831 | $ 58,368 | $ 58,368 |
Balance, shares | 13,268,871 | 5,836,832 | 9,983,082 | 5,836,832 | 5,836,832 |
Net increase in net assets resulting from operations | |||||
Sale of Series B Preferred stock at $0.80 per share | |||||
Sale of common stock at $0.40 per share | $ 32,858 | ||||
Sale of common stock $0.40 per share, shares | 3,285,789 | ||||
Exerrcise of stock options | $ 187 | $ 187 | |||
Exercise of stock options, shares | 18,750 | 18,750 | |||
Compensation expense from stock options | |||||
Balance | $ 132,876 | $ 58,368 | $ 132,876 | $ 58,368 | $ 99,831 |
Balance, shares | 13,287,621 | 5,836,832 | 13,287,621 | 5,836,832 | 9,983,082 |
Additional Paid-in Capital [Member] | |||||
Balance | $ 41,610,332 | $ 36,315,354 | $ 39,772,228 | $ 35,943,369 | $ 35,943,369 |
Net increase in net assets resulting from operations | |||||
Sale of Series B Preferred stock at $0.80 per share | 1,257,088 | 883,813 | 1,803,176 | 1,254,750 | |
Sale of common stock at $0.40 per share | 1,281,459 | ||||
Exerrcise of stock options | 431 | 431 | |||
Compensation expense from stock options | 10,897 | 12,803 | 21,454 | 13,851 | |
Balance | 42,878,748 | 37,211,970 | 42,878,748 | 37,211,970 | 39,772,228 |
Retained Earnings [Member] | |||||
Balance | (33,290,978) | (33,423,120) | (32,957,186) | (33,384,252) | (33,384,252) |
Net increase in net assets resulting from operations | 996,133 | 318,137 | 662,341 | 279,269 | |
Sale of Series B Preferred stock at $0.80 per share | |||||
Compensation expense from stock options | |||||
Balance | $ (32,294,845) | $ (33,104,983) | $ (32,294,845) | $ (33,104,983) | $ (32,957,186) |
Condensed Statements of Chang_2
Condensed Statements of Changes in Net Assets (Unaudited) (Parenthetical) - $ / shares | Sep. 30, 2021 | Sep. 30, 2020 |
Common Stock [Member] | ||
Class of Stock [Line Items] | ||
Sales of stock price per share | $ 0.40 | |
Series B Preferred Stock [Member] | ||
Class of Stock [Line Items] | ||
Sales of stock price per share | $ 0.80 | $ 0.80 |
Condensed Statements of Cash Fl
Condensed Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Operating activities: | ||
Net increase in net assets resulting from operations | $ 662,341 | $ 279,269 |
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash used in operating activities | ||
Net change in unrealized gain on investments | (1,403,315) | (478,248) |
Stock option compensation expense | 21,454 | 13,851 |
Change in operating assets and liabilities | ||
Other current assets | 60,543 | (500) |
Accounts payable and accrued liabilities | (108,664) | 15,064 |
Accrued liabilities to related parties | 35,580 | |
Purchase of investments | (2,218,091) | (740,000) |
Net cash used in operating activities | (3,071,238) | (909,564) |
Cash flows from financing activities: | ||
Sale of Common stock in connection with preference rights (see Note 6) | 122,875 | |
Sale of Common stock from exercise of options stock | 618 | |
Sale of Series B-1 Preferred stock | 1,826,001 | 1,270,000 |
Receipt of SBA loan | 1,000 | |
Advances from related party | 2,250 | |
Net cash provided by financing activities | 1,949,494 | 1,273,250 |
Net increase/(decrease) in cash | (1,121,744) | 363,686 |
Cash, beginning of period | 1,437,868 | 33,756 |
Cash, end of period | 316,124 | 397,442 |
Supplemental cash flow information | ||
Interest paid | 1,588 | |
Taxes paid | 800 | 800 |
Supplemental schedule of noncash financing activities: | ||
Conversion of common stock subscription liability to common stock | $ 1,191,442 |
Condensed Schedule of Investmen
Condensed Schedule of Investments (Unaudited) - USD ($) | Sep. 30, 2021 | Mar. 31, 2021 | |
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 7,904,636 | $ 5,686,545 | |
Investment owned, at fair value | $ 10,442,813 | $ 6,821,407 | |
Investment owned, percent of net assets | 96.50% | 97.50% | |
UNITED STATES | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 6,184,636 | $ 4,516,546 | |
Investment owned, at fair value | $ 8,514,130 | $ 5,486,011 | |
Investment owned, percent of net assets | 78.70% | 78.40% | |
CANADA | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 970,000 | $ 770,000 | |
Investment owned, at fair value | $ 1,137,116 | $ 907,560 | |
Investment owned, percent of net assets | 10.50% | 13.00% | |
Rest of World [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 750,000 | $ 400,000 | |
Investment owned, at fair value | $ 791,567 | $ 427,836 | |
Investment owned, percent of net assets | 7.30% | 6.10% | |
Convertible Debt Securities [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 3,243,539 | $ 2,216,048 | |
Investment owned, at fair value | $ 3,801,833 | $ 2,553,954 | |
Investment owned, percent of net assets | 35.10% | 36.50% | |
Convertible Debt Securities [Member] | UNITED STATES | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 2,423,539 | $ 1,596,048 | |
Investment owned, at fair value | $ 2,873,150 | $ 1,868,557 | |
Investment owned, percent of net assets | 26.60% | 26.70% | |
Convertible Debt Securities [Member] | CANADA | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 470,000 | $ 370,000 | |
Investment owned, at fair value | $ 537,116 | $ 407,561 | |
Investment owned, percent of net assets | 5.00% | 5.80% | |
Convertible Debt Securities [Member] | Rest of World [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 350,000 | $ 250,000 | |
Investment owned, at fair value | $ 391,567 | $ 277,836 | |
Investment owned, percent of net assets | 3.60% | 4.00% | |
Preferred Investments [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 3,050,997 | $ 2,450,998 | |
Investment owned, at fair value | $ 4,538,653 | $ 3,129,458 | |
Investment owned, percent of net assets | 42.00% | 44.80% | |
Preferred Investments [Member] | UNITED STATES | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 2,800,997 | $ 2,300,998 | |
Investment owned, at fair value | $ 4,288,653 | $ 2,979,458 | |
Investment owned, percent of net assets | 39.60% | 42.60% | |
Preferred Investments [Member] | CANADA | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 200,000 | $ 100,000 | |
Investment owned, at fair value | $ 200,000 | $ 100,000 | |
Investment owned, percent of net assets | 1.80% | 1.40% | |
Preferred Investments [Member] | Rest of World [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 50,000 | $ 50,000 | |
Investment owned, at fair value | $ 50,000 | $ 50,000 | |
Investment owned, percent of net assets | 0.50% | 0.70% | |
Common Stock Investments [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 464,100 | $ 273,500 | |
Investment owned, at fair value | $ 956,327 | $ 391,995 | |
Investment owned, percent of net assets | 8.80% | 5.60% | |
Common Stock Investments [Member] | UNITED STATES | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 264,100 | $ 73,500 | |
Investment owned, at fair value | $ 656,327 | $ 91,995 | |
Investment owned, percent of net assets | 6.10% | 1.30% | |
Common Stock Investments [Member] | CANADA | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 200,000 | $ 200,000 | |
Investment owned, at fair value | $ 300,000 | $ 300,000 | |
Investment owned, percent of net assets | 2.00% | 4.30% | |
Common Stock Investments [Member] | Rest of World [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | |||
Investment owned, at fair value | |||
Common Stock Investment [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | 464,100 | ||
Investment owned, at fair value | $ 956,327 | ||
Investment owned, percent of net assets | 4.20% | ||
Safe Investments [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 575,000 | 325,000 | |
Investment owned, at fair value | $ 575,000 | $ 325,000 | |
Investment owned, percent of net assets | 5.30% | 4.60% | |
Safe Investments [Member] | UNITED STATES | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 125,000 | $ 125,000 | |
Investment owned, at fair value | $ 125,000 | $ 125,000 | |
Investment owned, percent of net assets | 1.20% | 1.80% | |
Safe Investments [Member] | CANADA | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 100,000 | $ 100,000 | |
Investment owned, at fair value | $ 100,000 | $ 100,000 | |
Investment owned, percent of net assets | 0.90% | 1.40% | |
Safe Investments [Member] | Rest of World [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 350,000 | $ 100,000 | |
Investment owned, at fair value | $ 350,000 | $ 100,000 | |
Investment owned, percent of net assets | 3.20% | 1.40% | |
Other Investment [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 571,000 | $ 421,000 | |
Investment owned, at fair value | $ 571,000 | $ 421,000 | |
Investment owned, percent of net assets | 5.30% | 6.00% | |
Other Investment [Member] | UNITED STATES | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 571,000 | $ 421,000 | |
Investment owned, at fair value | $ 571,000 | 421,000 | |
Investment owned, percent of net assets | 5.30% | ||
Other Investment [Member] | CANADA | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | |||
Investment owned, at fair value | |||
Other Investment [Member] | Rest of World [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | |||
Investment owned, at fair value | |||
Life science [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at fair value | 8,286,334 | 5,301,059 | |
Technology [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at fair value | 2,030,449 | 1,394,318 | |
Fintech [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at fair value | 126,030 | 126,030 | |
Abfero pharmaceuticals Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 6% Due Decemeber 2022 [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | 100,000 | ||
Investment owned, at fair value | $ 102,630 | ||
Investment owned, percent of net assets | 0.90% | ||
Achelios Therapeutics Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 8% Due Decemeber 2021 [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | [1] | $ 100,000 | 100,000 |
Investment owned, at fair value | [1] | $ 125,184 | $ 121,173 |
Investment owned, percent of net assets | [1] | 1.20% | 1.70% |
Achelios Therapeutics Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 8% Due Decemeber 2021 [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | [1] | $ 25,000 | $ 25,000 |
Investment owned, at fair value | [1] | $ 30,036 | $ 29,033 |
Investment owned, percent of net assets | [1] | 0.30% | 0.40% |
Achelios Therapeutics Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 8% Due Decemeber 2021. [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | [1] | $ 50,000 | $ 50,000 |
Investment owned, at fair value | [1] | $ 56,586 | $ 54,581 |
Investment owned, percent of net assets | [1] | 0.50% | 0.80% |
Achelios Therapeutics Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note Sidecar 25% Discount No Interest [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | [1] | $ 50,000 | |
Investment owned, at fair value | [1] | $ 50,000 | |
Investment owned, percent of net assets | [1] | 0.50% | |
AOADX Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 4% Due May 2024 [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 100,000 | ||
Investment owned, at fair value | $ 101,567 | ||
Investment owned, percent of net assets | 0.90% | ||
:Avisi Technologies Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 8% Due July 2020 [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 50,000 | $ 50,000 | |
Investment owned, at fair value | $ 54,679 | $ 52,674 | |
Investment owned, percent of net assets | 0.50% | 0.80% | |
Basepaws Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 1% Due April 2020 [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 50,000 | $ 50,000 | |
Investment owned, at fair value | $ 201,663 | $ 162,319 | |
Investment owned, percent of net assets | 1.90% | 2.30% | |
Beam Semi Conductor Inc [Member] | Technology [Member] | Convertible Debt Securities [Member] | Convertible Note 8% Due April 2020 [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | [1],[2] | $ 150,000 | $ 150,000 |
Investment owned, at fair value | [1],[2] | $ 177,058 | $ 171,041 |
Investment owned, percent of net assets | [1],[2] | 1.60% | 2.40% |
Beam Semi Conductor Inc [Member] | Technology [Member] | Convertible Debt Securities [Member] | Convertible Note 8% Due March 2021[Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | [1],[2] | $ 50,000 | $ 50,000 |
Investment owned, at fair value | [1],[2] | $ 56,290 | $ 54,285 |
Investment owned, percent of net assets | [1],[2] | 0.50% | 0.80% |
Beam Semi Conductor Inc [Member] | Technology [Member] | Convertible Debt Securities [Member] | Convertible Note 8% Due March 2022 [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | [1],[2] | $ 100,000 | |
Investment owned, at fair value | [1],[2] | $ 103,704 | |
Investment owned, percent of net assets | [1],[2] | 1.00% | |
Co Labs Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 6% Due February 2023[Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 50,000 | ||
Investment owned, at fair value | $ 50,304 | ||
Investment owned, percent of net assets | 0.50% | ||
Co Labs Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series A-1 Preferred [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 50,000 | $ 50,000 | |
Investment owned, at fair value | $ 50,000 | $ 50,000 | |
Investment owned, percent of net assets | 0.50% | 0.70% | |
Corinnova Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 6% Due December 2024 [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 100,000 | $ 100,000 | |
Investment owned, at fair value | $ 105,211 | $ 102,318 | |
Investment owned, percent of net assets | 1.00% | 1.50% | |
Corinnova Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 6% Due December 2024 [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 50,000 | ||
Investment owned, at fair value | $ 50,164 | ||
Investment owned, percent of net assets | 0.50% | ||
Cyberdontics Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 8% Due September 2022 [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | [2] | $ 30,000 | $ 30,000 |
Investment owned, at fair value | [2] | $ 34,971 | $ 33,768 |
Investment owned, percent of net assets | [2] | 0.30% | 0.50% |
Cyberdontics Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 8% Due February 2023 [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | [2] | $ 35,000 | $ 35,000 |
Investment owned, at fair value | [2] | $ 39,457 | $ 38,053 |
Investment owned, percent of net assets | [2] | 0.40% | 0.50% |
Cyberdontics Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 0% On Due Date [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | [2] | $ 35,000 | $ 35,000 |
Investment owned, at fair value | [2] | $ 37,700 | $ 36,296 |
Investment owned, percent of net assets | [2] | 0.30% | 0.50% |
Deep Blue Medical Advances Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 6% Due June 2022 [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 50,000 | $ 50,000 | |
Investment owned, at fair value | $ 52,351 | $ 50,863 | |
Investment owned, percent of net assets | 0.50% | 0.70% | |
Deep Blue Medical Advances Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series A Preferred Stock [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 49,996 | $ 49,997 | |
Investment owned, at fair value | $ 49,997 | $ 49,997 | |
Investment owned, percent of net assets | 0.50% | 0.70% | |
Every Key Inc [Member] | Technology [Member] | Convertible Debt Securities [Member] | Convertible Note 5% Due December 2023 [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 100,000 | $ 100,000 | |
Investment owned, at fair value | $ 109,027 | $ 106,521 | |
Investment owned, percent of net assets | 1.00% | 1.50% | |
Identical Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 2% Due May 2022 [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 100,000 | $ 100,000 | |
Investment owned, at fair value | $ 101,775 | $ 100,844 | |
Investment owned, percent of net assets | 0.90% | 1.40% | |
IN Bay Technonlogy Inc [Member] | Technology [Member] | Convertible Debt Securities [Member] | Convertible Note 12% Due October 2020 [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | [2] | $ 50,000 | $ 50,000 |
Investment owned, at fair value | [2] | $ 67,589 | $ 59,721 |
Investment owned, percent of net assets | [2] | 0.60% | 0.90% |
IN Bay Technonlogy Inc [Member] | Technology [Member] | Convertible Debt Securities [Member] | Convertible Note Twelve Percentage Due July 2021 [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | [2] | $ 30,000 | $ 30,000 |
Investment owned, at fair value | [2] | $ 38,028 | $ 34,149 |
Investment owned, percent of net assets | [2] | 0.40% | 0.50% |
IN Bay Technonlogy Inc [Member] | Technology [Member] | Convertible Debt Securities [Member] | Convertible Note 12% Due February 2022 [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | [2] | $ 50,000 | $ 50,000 |
Investment owned, at fair value | [2] | $ 59,649 | $ 56,641 |
Investment owned, percent of net assets | [2] | 0.60% | 0.80% |
IN Bay Technonlogy Inc [Member] | Technology [Member] | Convertible Debt Securities [Member] | Convertible Note 12% Due December 2022 [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | [2] | $ 40,000 | $ 40,000 |
Investment owned, at fair value | [2] | $ 43,958 | $ 41,552 |
Investment owned, percent of net assets | [2] | 0.40% | 0.60% |
IN Bay Technonlogy Inc [Member] | Technology [Member] | Convertible Debt Securities [Member] | Convertible Note 12% Due December 2023 [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | [2] | $ 50,000 | |
Investment owned, at fair value | [2] | $ 52,926 | |
Investment owned, percent of net assets | [2] | 0.50% | |
Iris R And D Group Inc [Member] | Technology [Member] | Convertible Debt Securities [Member] | Convertible Note 8% Due December 2023 [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | [2] | $ 50,000 | |
Investment owned, at fair value | [2] | $ 51,447 | |
Investment owned, percent of net assets | [2] | 0.50% | |
Kiana Analytics [Member] | Technology [Member] | Convertible Debt Securities [Member] | Convertible Note 3% Due December 2022 [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 100,000 | $ 100,000 | |
Investment owned, at fair value | $ 102,326 | $ 100,847 | |
Investment owned, percent of net assets | 0.90% | 1.40% | |
Kiotech Medical Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 6% Due December 2020 [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 100,000 | $ 100,000 | |
Investment owned, at fair value | $ 246,141 | $ 243,133 | |
Investment owned, percent of net assets | 2.30% | 3.50% | |
Kiotech Medical Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 6% Due November 2022 [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 75,000 | $ 75,000 | |
Investment owned, at fair value | $ 85,896 | $ 83,738 | |
Investment owned, percent of net assets | 0.80% | 1.20% | |
Lifewave Biomedical Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 6% Due December 2020 [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 30,000 | $ 30,000 | |
Investment owned, at fair value | $ 33,733 | $ 32,831 | |
Investment owned, percent of net assets | 0.30% | 0.50% | |
Lifewave Biomedical Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 6% Due November 2021 [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 70,000 | $ 70,000 | |
Investment owned, at fair value | $ 76,916 | $ 74,810 | |
Investment owned, percent of net assets | 0.70% | 1.10% | |
Lifewave Biomedical Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 6% Due November 2021 [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 50,000 | ||
Investment owned, at fair value | $ 51,159 | ||
Investment owned, percent of net assets | 0.50% | ||
Lowell Therapeutics Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 8% No Due Date [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 27,491 | ||
Investment owned, at fair value | $ 27,955 | ||
Investment owned, percent of net assets | 0.30% | ||
Lowell Therapeutics Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series A Preferred Stock [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 50,000 | $ 50,000 | |
Investment owned, at fair value | $ 50,000 | $ 50,000 | |
Investment owned, percent of net assets | 0.50% | 0.70% | |
Lowell Therapeutics Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series B Preferred Stock [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 100,000 | ||
Investment owned, at fair value | $ 100,000 | ||
Investment owned, percent of net assets | 0.90% | ||
Lowell Therapeutics Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series A Preferred Stock One [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 50,000 | ||
Investment owned, at fair value | $ 50,000 | ||
Investment owned, percent of net assets | 0.70% | ||
MM Tron Inc [Member] | Technology [Member] | Convertible Debt Securities [Member] | Convertible Note 4% Due April 2023 [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 100,000 | ||
Investment owned, at fair value | $ 101,030 | ||
Investment owned, percent of net assets | 0.90% | ||
Navaux Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 6% Due December 2023 [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 60,000 | $ 60,000 | |
Investment owned, at fair value | $ 62,841 | $ 61,036 | |
Investment owned, percent of net assets | 0.60% | 0.90% | |
Neuro Fouty Two Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 8% Due December 2023 [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 50,000 | $ 50,000 | |
Investment owned, at fair value | $ 52,564 | $ 50,559 | |
Investment owned, percent of net assets | 0.50% | 0.70% | |
Octagon Therapeutics Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 5% Due June 2021 [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 50,000 | $ 50,000 | |
Investment owned, at fair value | $ 52,349 | $ 51,110 | |
Investment owned, percent of net assets | 0.50% | 0.70% | |
Octagon Therapeutics Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 5% Due June 2021 [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 50,000 | $ 50,000 | |
Investment owned, at fair value | $ 52,219 | $ 50,966 | |
Investment owned, percent of net assets | 0.50% | 0.70% | |
Perikinetics Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 6% Due May 2022 [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 100,000 | $ 100,000 | |
Investment owned, at fair value | $ 105,326 | $ 102,318 | |
Investment owned, percent of net assets | 1.00% | 1.50% | |
Preview Medical Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 7% Due January 2023 [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 100,000 | $ 100,000 | |
Investment owned, at fair value | $ 104,948 | $ 101,918 | |
Investment owned, percent of net assets | 1.00% | 1.50% | |
Promaxo Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 5% Due July 2022 [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 100,000 | ||
Investment owned, at fair value | $ 183,876 | ||
Investment owned, percent of net assets | 1.70% | ||
RheosInc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 8% Due August 2026 [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 100,000 | ||
Investment owned, at fair value | $ 101,074 | ||
Investment owned, percent of net assets | 0.90% | ||
Saccharo Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 7% Due September 2022 [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 50,000 | ||
Investment owned, at fair value | $ 50,815 | ||
Investment owned, percent of net assets | 0.50% | ||
Sage Medic Corp [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 8% Due April 2021 Plus Warrants [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 50,000 | $ 50,000 | |
Investment owned, at fair value | $ 59,885 | $ 57,879 | |
Investment owned, percent of net assets | 0.60% | 0.80% | |
Sage Medic Corp [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 8% Due December 2022 Plus Warrants [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 75,000 | $ 75,000 | |
Investment owned, at fair value | $ 79,948 | $ 77,088 | |
Investment owned, percent of net assets | 0.70% | 1.10% | |
Sensing Electromagnetic Plus Corp [Member] | Technology [Member] | Convertible Debt Securities [Member] | Convertible Note Fully Reserved [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 50,000 | $ 50,000 | |
Investment owned, at fair value | $ 1 | $ 1 | |
Investment owned, percent of net assets | 0.00% | 0.00% | |
Sensing Electromagnetic Plus Corp [Member] | Technology [Member] | Convertible Debt Securities [Member] | Convertible Note Fully Reserved One [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 11,048 | $ 11,048 | |
Investment owned, at fair value | $ 1 | $ 1 | |
Investment owned, percent of net assets | 0.00% | 0.00% | |
Single Pass Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 6% April 2024 [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 50,000 | ||
Investment owned, at fair value | $ 50,970 | ||
Investment owned, percent of net assets | 0.50% | ||
Valfix Medical Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 8% December 2021 [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | [2] | $ 50,000 | $ 50,000 |
Investment owned, at fair value | [2] | $ 54,515 | $ 52,510 |
Investment owned, percent of net assets | [2] | 0.50% | 0.80% |
Valfix Medical Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series Seed Preferred [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | [2] | $ 50,000 | $ 50,000 |
Investment owned, at fair value | [2] | $ 50,000 | $ 50,000 |
Investment owned, percent of net assets | [2] | 0.50% | 0.70% |
Xpan Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 8% March 2025 [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | [2] | $ 50,000 | |
Investment owned, at fair value | [2] | $ 56,301 | |
Investment owned, percent of net assets | [2] | 0.50% | |
Xpan Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 8% June 2022 [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | [2] | $ 25,000 | $ 25,000 |
Investment owned, at fair value | [2] | $ 27,548 | $ 26,545 |
Investment owned, percent of net assets | [2] | 0.30% | 0.40% |
Xpan Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 8% June 2022 [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | [2] | $ 25,000 | $ 25,000 |
Investment owned, at fair value | [2] | $ 27,542 | $ 26,540 |
Investment owned, percent of net assets | [2] | 0.30% | 0.40% |
Xpan Inc [Member] | Life science [Member] | Corporate Note Securities [Member] | Convertible Note 8% March 2025 [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | [2] | $ 50,000 | |
Investment owned, at fair value | [2] | $ 54,296 | |
Investment owned, percent of net assets | [2] | 0.80% | |
Altis Biosystems [Member] | Life science [Member] | Preferred Investments [Member] | Series Seed Preferred [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 50,000 | $ 50,000 | |
Investment owned, at fair value | $ 50,000 | $ 50,000 | |
Investment owned, percent of net assets | 0.50% | 0.70% | |
Astrocyte Pharmaceuticals Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series A Preferred Stock [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 100,000 | $ 100,000 | |
Investment owned, at fair value | $ 100,000 | $ 100,000 | |
Investment owned, percent of net assets | 0.90% | 1.40% | |
Cnote Group Inc [Member] | Fintech [Member] | Preferred Investments [Member] | Series Seed-2 Preferred [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 51,500 | $ 51,500 | |
Investment owned, at fair value | $ 59,783 | $ 59,783 | |
Investment owned, percent of net assets | 0.60% | 0.90% | |
Cnote Group Inc [Member] | Fintech [Member] | Preferred Investments [Member] | Series Seed-3 Preferred [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 50,000 | $ 50,000 | |
Investment owned, at fair value | $ 66,247 | $ 66,247 | |
Investment owned, percent of net assets | 0.60% | 0.90% | |
Connectus Services Ltd [Member] | Technology [Member] | Preferred Investments [Member] | Series Seed Preferred [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | [2] | $ 100,000 | $ 100,000 |
Investment owned, at fair value | [2] | $ 100,000 | $ 100,000 |
Investment owned, percent of net assets | [2] | 0.90% | 1.40% |
Eumentis Thereapeutics Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series A Preferred Stock [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 100,000 | $ 100,000 | |
Investment owned, at fair value | $ 100,000 | $ 100,000 | |
Investment owned, percent of net assets | 0.90% | 1.40% | |
Femto DX Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series A Preferred Stock [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 100,000 | $ 100,000 | |
Investment owned, at fair value | $ 290,046 | $ 159,835 | |
Investment owned, percent of net assets | 2.70% | 2.30% | |
Healionics Corporation [Member] | Life science [Member] | Preferred Investments [Member] | Series A-1 Preferred [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 100,000 | ||
Investment owned, at fair value | $ 100,000 | ||
Investment owned, percent of net assets | 0.90% | ||
ILumen Scientific Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series A Preferred Plus Warrants [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 50,000 | $ 50,000 | |
Investment owned, at fair value | $ 50,000 | $ 50,000 | |
Investment owned, percent of net assets | 0.50% | 0.70% | |
ILumen Scientific Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series A Preferred Plus Warrants One[Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 50,000 | $ 50,000 | |
Investment owned, at fair value | $ 50,000 | $ 50,000 | |
Investment owned, percent of net assets | 0.50% | 0.70% | |
Inhalon Biopharma Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series Seed Preferred [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 99,997 | $ 99,997 | |
Investment owned, at fair value | $ 99,997 | $ 99,997 | |
Investment owned, percent of net assets | 0.90% | 1.40% | |
Light Line Medical Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series Seed Preferred [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 25,000 | $ 25,000 | |
Investment owned, at fair value | $ 25,000 | $ 25,000 | |
Investment owned, percent of net assets | 0.20% | 0.40% | |
Light Line Medical Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series A Preferred Plus Warrants [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 50,000 | $ 50,000 | |
Investment owned, at fair value | $ 50,000 | $ 50,000 | |
Investment owned, percent of net assets | 0.50% | 0.70% | |
Light Line Medical Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series Seed Preferred Converted Note [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 30,000 | $ 30,000 | |
Investment owned, at fair value | $ 38,031 | $ 38,031 | |
Investment owned, percent of net assets | 0.40% | 0.50% | |
Light Line Medical Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series Seed Preferred Converted Note One [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 70,000 | $ 70,000 | |
Investment owned, at fair value | $ 106,049 | $ 106,049 | |
Investment owned, percent of net assets | 1.00% | 1.50% | |
Makani Science Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series Seed Preferred [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 50,000 | ||
Investment owned, at fair value | $ 50,000 | ||
Investment owned, percent of net assets | 0.50% | ||
Micronic Technologies Inc [Member] | Technology [Member] | Preferred Investments [Member] | Series Seed-1 Preferred Plus Warrants [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 100,000 | $ 100,000 | |
Investment owned, at fair value | $ 100,000 | $ 100,000 | |
Investment owned, percent of net assets | 0.90% | 1.40% | |
Neuroflow Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series Seed-2 Preferred [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 150,000 | $ 150,000 | |
Investment owned, at fair value | $ 224,998 | $ 224,998 | |
Investment owned, percent of net assets | 2.10% | 3.20% | |
Neuroflow Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series B Preferred Stock [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 100,000 | $ 100,000 | |
Investment owned, at fair value | $ 212,497 | $ 212,497 | |
Investment owned, percent of net assets | 2.00% | 3.00% | |
New View Surgical Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series A-1 Preferred [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 75,000 | $ 75,000 | |
Investment owned, at fair value | $ 75,000 | $ 75,000 | |
Investment owned, percent of net assets | 0.70% | 1.10% | |
New View Surgical Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series A-1 Preferred [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 100,000 | ||
Investment owned, at fair value | $ 100,000 | ||
Investment owned, percent of net assets | 0.90% | ||
Orion Biotechnology Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series A Preferred Stock [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | [2] | $ 100,000 | |
Investment owned, at fair value | [2] | $ 100,000 | |
Investment owned, percent of net assets | [2] | 0.90% | |
Orion Biotechnology Inc [Member] | Life science [Member] | Safe Investments [Member] | SAFE [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | [2] | $ 100,000 | |
Investment owned, at fair value | [2] | $ 100,000 | |
Investment owned, percent of net assets | [2] | 1.40% | |
Orion Biotechnology Inc [Member] | Life science [Member] | Safe Investments [Member] | SAFE [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | [2] | $ 100,000 | |
Investment owned, at fair value | [2] | $ 100,000 | |
Investment owned, percent of net assets | [2] | 0.90% | |
Otomagnetics Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series A-1 Preferred Plus Warrants [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 100,000 | $ 100,000 | |
Investment owned, at fair value | $ 100,000 | $ 100,000 | |
Investment owned, percent of net assets | 0.90% | 1.40% | |
Partheous Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series A Preferred Stock [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 50,000 | ||
Investment owned, at fair value | $ 50,000 | ||
Investment owned, percent of net assets | 0.50% | ||
Promaxol Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series B-1 Preferred Converted Note [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 250,000 | ||
Investment owned, at fair value | $ 1,034,684 | ||
Investment owned, percent of net assets | 9.60% | ||
Seal Rock Therapeutics Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series Seed Preferred Converted Note [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 78,000 | $ 78,000 | |
Investment owned, at fair value | $ 199,112 | $ 80,329 | |
Investment owned, percent of net assets | 1.80% | 1.10% | |
Shyft F K A Crater Group Inc [Member] | Technology [Member] | Preferred Investments [Member] | Series A Preferred Stock [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 50,000 | ||
Investment owned, at fair value | $ 91,771 | ||
Investment owned, percent of net assets | 0.80% | ||
Shyft F K A Crater Group Inc [Member] | Technology [Member] | Preferred Investments [Member] | Series A-1 Preferred [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 51,500 | $ 51,500 | |
Investment owned, at fair value | $ 107,059 | $ 97,940 | |
Investment owned, percent of net assets | 1.00% | 1.40% | |
Shyft F K A Crater Group Inc [Member] | Technology [Member] | Preferred Investments [Member] | Series A-1 Preferred Converted Note [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 50,000 | $ 50,000 | |
Investment owned, at fair value | $ 70,990 | $ 50,000 | |
Investment owned, percent of net assets | 0.70% | 0.70% | |
Shyft F K A Crater Group Inc [Member] | Technology [Member] | Preferred Investments [Member] | Series A Preferred Converted Note [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 50,000 | ||
Investment owned, at fair value | $ 64,626 | ||
Investment owned, percent of net assets | 0.90% | ||
Trellis Bioscience LLC [Member] | Life science [Member] | Preferred Investments [Member] | Series B Preferred Plus Warrants [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | [1] | $ 50,000 | $ 50,000 |
Investment owned, at fair value | [1] | $ 50,000 | $ 50,000 |
Investment owned, percent of net assets | [1] | 0.50% | 0.70% |
Trellis Bioscience LLC [Member] | Life science [Member] | Preferred Investments [Member] | SeriesB Preferred Plus Warrants One [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | [1] | $ 50,000 | $ 50,000 |
Investment owned, at fair value | [1] | $ 50,000 | $ 50,000 |
Investment owned, percent of net assets | [1] | 0.50% | 0.70% |
Trellis Bioscience LLC [Member] | Life science [Member] | Preferred Investments [Member] | Series B Preferred Plus Warrants Two [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | [1] | $ 100,000 | |
Investment owned, at fair value | [1] | $ 100,000 | |
Investment owned, percent of net assets | [1] | 1.40% | |
Trellis Bioscience LLC [Member] | Technology [Member] | Preferred Investments [Member] | Series B Preferred Plus Warrants Two [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | [1] | $ 100,000 | |
Investment owned, at fair value | [1] | $ 100,000 | |
Investment owned, percent of net assets | [1] | 0.90% | |
Vesteck Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series A Preferred Stock [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 100,000 | ||
Investment owned, at fair value | $ 100,000 | ||
Investment owned, percent of net assets | 0.90% | ||
Visgenx Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series Seed Preferred Converted Note [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 25,000 | $ 25,000 | |
Investment owned, at fair value | $ 25,648 | $ 25,648 | |
Investment owned, percent of net assets | 0.20% | 0.40% | |
Visgenx Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series Seed Preferred Converted Note One [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 15,003 | $ 15,003 | |
Investment owned, at fair value | $ 15,392 | $ 15,392 | |
Investment owned, percent of net assets | 0.10% | 0.20% | |
Visgenx Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series Seed-1 Preferred Converted Note [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 30,000 | $ 30,000 | |
Investment owned, at fair value | $ 46,352 | $ 46,352 | |
Investment owned, percent of net assets | 0.40% | 0.70% | |
Benda R X Corp [Member] | Life science [Member] | Common Stock Investments [Member] | Common Stock [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | [2] | $ 100,000 | $ 100,000 |
Investment owned, at fair value | [2] | $ 150,000 | $ 150,000 |
Investment owned, percent of net assets | [2] | 1.40% | 2.10% |
Benda R X Corp [Member] | Life science [Member] | Common Stock Investments [Member] | Common Stock One [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | [2] | $ 100,000 | $ 100,000 |
Investment owned, at fair value | [2] | $ 150,000 | $ 150,000 |
Investment owned, percent of net assets | [2] | 1.40% | 2.10% |
Boardwalk Tech [Member] | Life science [Member] | Common Stock Investments [Member] | Common Stock [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 73,500 | ||
Investment owned, at fair value | $ 91,995 | ||
Investment owned, percent of net assets | 1.30% | ||
Boardwalk Tech [Member] | Technology [Member] | Common Stock Investments [Member] | Common Stock [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 65,600 | ||
Investment owned, at fair value | $ 65,600 | ||
Investment owned, percent of net assets | 0.60% | ||
Boardwalk Tech [Member] | Technology [Member] | Common Stock Investments [Member] | Common Stock One [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 73,500 | ||
Investment owned, at fair value | $ 91,995 | ||
Investment owned, percent of net assets | 0.90% | ||
Kuantsol Inc [Member] | Technology [Member] | Common Stock Investments [Member] | Common Stock [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 25,000 | ||
Investment owned, at fair value | $ 25,000 | ||
Investment owned, percent of net assets | 0.20% | ||
Sanaby Health Sponsor LLC [Member] | Life science [Member] | Common Stock Investments [Member] | Common Stock [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 100,000 | ||
Investment owned, at fair value | $ 473,732 | ||
Investment owned, percent of net assets | 4.40% | ||
Infinidome Ltd [Member] | Technology [Member] | Safe Investments [Member] | SAFE [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | [2] | $ 50,000 | |
Investment owned, at fair value | [2] | $ 50,000 | |
Investment owned, percent of net assets | [2] | 0.70% | |
Infinidome Ltd [Member] | Technology [Member] | Safe Investments [Member] | Safe One [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | [2] | $ 50,000 | |
Investment owned, at fair value | [2] | $ 50,000 | |
Investment owned, percent of net assets | [2] | 0.70% | |
Infinidome Ltd [Member] | Technology [Member] | Safe Investments [Member] | SAFE [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | [2] | $ 50,000 | |
Investment owned, at fair value | [2] | $ 50,000 | |
Investment owned, percent of net assets | [2] | 0.50% | |
Infinidome Ltd [Member] | Technology [Member] | Safe Investments [Member] | Safe One [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | [2] | $ 50,000 | |
Investment owned, at fair value | [2] | $ 50,000 | |
Investment owned, percent of net assets | [2] | 0.50% | |
Madorra Inc [Member] | Safe Investments [Member] | Safe Investments [Member] | SAFE [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | [2] | $ 100,000 | |
Investment owned, at fair value | [2] | $ 100,000 | |
Investment owned, percent of net assets | [2] | 0.90% | |
Mitre Medical Corp [Member] | Life science [Member] | Safe Investments [Member] | SAFE [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 75,000 | ||
Investment owned, at fair value | $ 75,000 | ||
Investment owned, percent of net assets | 1.10% | ||
Mitre Medical Corp [Member] | Life science [Member] | Safe Investments [Member] | Safe One [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 50,000 | ||
Investment owned, at fair value | $ 50,000 | ||
Investment owned, percent of net assets | 0.70% | ||
Mitre Medical Corp [Member] | Life science [Member] | Safe Investments [Member] | SAFE [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 75,000 | ||
Investment owned, at fair value | $ 75,000 | ||
Investment owned, percent of net assets | 0.70% | ||
Mitre Medical Corp [Member] | Life science [Member] | Safe Investments [Member] | Safe One [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 50,000 | ||
Investment owned, at fair value | $ 50,000 | ||
Investment owned, percent of net assets | 0.50% | ||
Polymertal Inc [Member] | Technology [Member] | Safe Investments [Member] | SAFE [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | [2] | $ 150,000 | |
Investment owned, at fair value | [2] | $ 150,000 | |
Investment owned, percent of net assets | [2] | 1.40% | |
Enduralock LLC [Member] | Technology [Member] | Other Investment [Member] | Series A-1 Ownership Units [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 30,000 | $ 30,000 | |
Investment owned, at fair value | $ 30,000 | $ 30,000 | |
Investment owned, percent of net assets | 0.30% | 0.40% | |
Enduralock LLC [Member] | Technology [Member] | Other Investment [Member] | Series A-1 Ownership Units 1 [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 35,000 | $ 35,000 | |
Investment owned, at fair value | $ 35,000 | $ 35,000 | |
Investment owned, percent of net assets | 0.30% | 0.50% | |
Exodos Life Sciences LP [Member] | Life science [Member] | Other Investment [Member] | Series A-1 Ownership Units [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | [1] | $ 206,000 | |
Investment owned, at fair value | [1] | $ 206,000 | |
Investment owned, percent of net assets | [1] | 1.90% | |
Exodos Life Sciences LP [Member] | Life science [Member] | Other Investment [Member] | Class A-1 Preferred Ownership Units [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 206,000 | ||
Investment owned, at fair value | $ 206,000 | ||
Investment owned, percent of net assets | 2.90% | ||
Green Sun Medical LLC [Member] | Life science [Member] | Other Investment [Member] | Class A-1 Preferred Ownership Units [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 50,000 | $ 50,000 | |
Investment owned, at fair value | $ 50,000 | $ 50,000 | |
Investment owned, percent of net assets | 0.50% | 0.70% | |
Green Sun Medical LLC [Member] | Life science [Member] | Other Investment [Member] | Class A-1 Preferred Ownership Units 1 [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 25,000 | $ 25,000 | |
Investment owned, at fair value | $ 25,000 | $ 25,000 | |
Investment owned, percent of net assets | 0.20% | 0.40% | |
Green Sun Medical LLC [Member] | Life science [Member] | Other Investment [Member] | Class A-1 Preferred Ownership Units 2 [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 25,000 | $ 25,000 | |
Investment owned, at fair value | $ 25,000 | $ 25,000 | |
Investment owned, percent of net assets | 0.20% | 0.40% | |
Green Sun Medical LLC [Member] | Life science [Member] | Other Investment [Member] | Class A-1 Preferred Ownership Units 3 [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 100,000 | ||
Investment owned, at fair value | $ 100,000 | ||
Investment owned, percent of net assets | 0.90% | ||
Riso Capital Fund ILP [Member] | Technology [Member] | Other Investment [Member] | Ownership Units [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 50,000 | $ 50,000 | |
Investment owned, at fair value | $ 50,000 | $ 50,000 | |
Investment owned, percent of net assets | 0.50% | 0.70% | |
Riso Capital Fund ILP [Member] | Technology [Member] | Other Investment [Member] | Ownership Units One [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 50,000 | ||
Investment owned, at fair value | $ 50,000 | ||
Investment owned, percent of net assets | 0.50% | ||
Promaxo [Member] | Life science [Member] | Preferred Investments [Member] | Series B-1 Preferred Converted Note [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, at cost | $ 250,000 | ||
Investment owned, at fair value | $ 531,738 | ||
Investment owned, percent of net assets | 7.60% | ||
[1] | Kyto representatives sit on the Board of Directors of these companies. | ||
[2] | These companies are headquartered outside of the US. |
Condensed Schedule of Investm_2
Condensed Schedule of Investments (Unaudited) (Parenthetical) - USD ($) | 6 Months Ended | 12 Months Ended | |
Sep. 30, 2021 | Mar. 31, 2021 | ||
Stockholders' Equity Attributable to Parent | $ 10,817,894 | $ 6,993,163 | |
Investment Owned, Percent of Net Assets | 96.50% | 97.50% | |
UNITED STATES | |||
Investment Owned, Percent of Net Assets | 78.70% | 78.40% | |
CANADA | |||
Investment Owned, Percent of Net Assets | 10.50% | 13.00% | |
Common Stock [Member] | |||
Stockholders' Equity Attributable to Parent | $ 132,876 | $ 99,831 | |
Convertible Debt Securities [Member] | |||
Investment Owned, Percent of Net Assets | 35.10% | 36.50% | |
Convertible Debt Securities [Member] | UNITED STATES | |||
Investment Owned, Percent of Net Assets | 26.60% | 26.70% | |
Convertible Debt Securities [Member] | CANADA | |||
Investment Owned, Percent of Net Assets | 5.00% | 5.80% | |
Preferred Investments [Member] | |||
Investment Owned, Percent of Net Assets | 42.00% | 44.80% | |
Preferred Investments [Member] | UNITED STATES | |||
Investment Owned, Percent of Net Assets | 39.60% | 42.60% | |
Preferred Investments [Member] | CANADA | |||
Investment Owned, Percent of Net Assets | 1.80% | 1.40% | |
Common Stock Investments [Member] | |||
Investment Owned, Percent of Net Assets | 8.80% | 5.60% | |
Common Stock Investments [Member] | UNITED STATES | |||
Investment Owned, Percent of Net Assets | 6.10% | 1.30% | |
Common Stock Investments [Member] | CANADA | |||
Investment Owned, Percent of Net Assets | 2.00% | 4.30% | |
Other Investment [Member] | |||
Investment Owned, Percent of Net Assets | 5.30% | 6.00% | |
Other Investment [Member] | UNITED STATES | |||
Investment Owned, Percent of Net Assets | 5.30% | ||
Abfero pharmaceuticals Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 6% Due Decemeber 2022 [Member] | |||
Interest percentage | 6.00% | ||
Maturity date | 2022-12 | ||
Investment Owned, Percent of Net Assets | 0.90% | ||
Achelios Therapeutics Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 8% Due Decemeber 2021 [Member] | |||
Interest percentage | 8.00% | 8.00% | |
Maturity date | 2021-12 | ||
Investment Owned, Percent of Net Assets | [1] | 1.20% | 1.70% |
Achelios Therapeutics Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 8% Due Decemeber 2021 [Member] | |||
Interest percentage | 8.00% | 8.00% | |
Maturity date | 2021-12 | 2021-12 | |
Investment Owned, Percent of Net Assets | [1] | 0.30% | 0.40% |
Achelios Therapeutics Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 8% Due Decemeber 2021. [Member] | |||
Interest percentage | 8.00% | 8.00% | |
Maturity date | 2021-12 | 2021-12 | |
Investment Owned, Percent of Net Assets | [1] | 0.50% | 0.80% |
Achelios Therapeutics Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note Sidecar 25% Discount No Interest [Member] | |||
Debt discount percentage | 25.00% | ||
Investment Owned, Percent of Net Assets | [1] | 0.50% | |
AOADX Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 4% Due May 2024 [Member] | |||
Interest percentage | 4.00% | ||
Maturity date | 2024-05 | ||
Investment Owned, Percent of Net Assets | 0.90% | ||
:Avisi Technologies Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 8% Due July 2020 [Member] | |||
Interest percentage | 8.00% | 8.00% | |
Maturity date | 2022-07 | 2022-07 | |
Investment Owned, Percent of Net Assets | 0.50% | 0.80% | |
Basepaws Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 1% Due April 2020 [Member] | |||
Interest percentage | 1.00% | 1.00% | |
Maturity date | 2020-04 | 2020-04 | |
Investment Owned, Percent of Net Assets | 1.90% | 2.30% | |
Beam Semi Conductor Inc [Member] | Technology [Member] | Convertible Debt Securities [Member] | Convertible Note 8% Due April 2020 [Member] | |||
Interest percentage | 8.00% | 8.00% | |
Maturity date | 2022-04 | 2022-04 | |
Investment Owned, Percent of Net Assets | [1],[2] | 1.60% | 2.40% |
Beam Semi Conductor Inc [Member] | Technology [Member] | Convertible Debt Securities [Member] | Convertible Note 8% Due March 2021[Member] | |||
Interest percentage | 8.00% | 8.00% | |
Maturity date | 2021-03 | 2021-03 | |
Investment Owned, Percent of Net Assets | [1],[2] | 0.50% | 0.80% |
Beam Semi Conductor Inc [Member] | Technology [Member] | Convertible Debt Securities [Member] | Convertible Note 8% Due March 2022 [Member] | |||
Interest percentage | 8.00% | ||
Maturity date | 2022-03 | ||
Investment Owned, Percent of Net Assets | [1],[2] | 1.00% | |
Co Labs Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 6% Due February 2023[Member] | |||
Interest percentage | 6.00% | ||
Maturity date | 2023-02 | ||
Investment Owned, Percent of Net Assets | 0.50% | ||
Co Labs Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series A-1 Preferred [Member] | |||
Number of shares | 147,058 | 147,058 | |
Investment Owned, Percent of Net Assets | 0.50% | 0.70% | |
Corinnova Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 6% Due December 2024 [Member] | |||
Interest percentage | 6.00% | 6.00% | |
Maturity date | 2024-12 | 2024-12 | |
Investment Owned, Percent of Net Assets | 1.00% | 1.50% | |
Corinnova Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 6% Due December 2024 [Member] | |||
Interest percentage | 6.00% | ||
Maturity date | 2024-12 | ||
Investment Owned, Percent of Net Assets | 0.50% | ||
Cyberdontics Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 8% Due September 2022 [Member] | |||
Interest percentage | 8.00% | 8.00% | |
Maturity date | 2022-09 | 2022-09 | |
Investment Owned, Percent of Net Assets | [2] | 0.30% | 0.50% |
Cyberdontics Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 8% Due February 2023 [Member] | |||
Interest percentage | 8.00% | 8.00% | |
Maturity date | 2023-02 | 2023-02 | |
Investment Owned, Percent of Net Assets | [2] | 0.40% | 0.50% |
Cyberdontics Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 0% On Due Date [Member] | |||
Interest percentage | 0.00% | 0.00% | |
Investment Owned, Percent of Net Assets | [2] | 0.30% | 0.50% |
Deep Blue Medical Advances Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 6% Due June 2022 [Member] | |||
Interest percentage | 6.00% | 6.00% | |
Maturity date | 2022-06 | 2022-06 | |
Investment Owned, Percent of Net Assets | 0.50% | 0.70% | |
Deep Blue Medical Advances Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series A Preferred Stock [Member] | |||
Number of shares | 10,474 | 10,474 | |
Investment Owned, Percent of Net Assets | 0.50% | 0.70% | |
Every Key Inc [Member] | Technology [Member] | Convertible Debt Securities [Member] | Convertible Note 5% Due December 2023 [Member] | |||
Interest percentage | 5.00% | 5.00% | |
Maturity date | 2023-12 | 2023-12 | |
Investment Owned, Percent of Net Assets | 1.00% | 1.50% | |
Identical Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 2% Due May 2022 [Member] | |||
Interest percentage | 2.00% | 2.00% | |
Maturity date | 2022-05 | 2022-05 | |
Investment Owned, Percent of Net Assets | 0.90% | 1.40% | |
IN Bay Technonlogy Inc [Member] | Technology [Member] | Convertible Debt Securities [Member] | Convertible Note 12% Due October 2020 [Member] | |||
Interest percentage | 12.00% | 12.00% | |
Maturity date | 2020-10 | 2020-10 | |
Investment Owned, Percent of Net Assets | [2] | 0.60% | 0.90% |
IN Bay Technonlogy Inc [Member] | Technology [Member] | Convertible Debt Securities [Member] | Convertible Note Twelve Percentage Due July 2021 [Member] | |||
Interest percentage | 12.00% | 12.00% | |
Maturity date | 2021-07 | 2021-07 | |
Investment Owned, Percent of Net Assets | [2] | 0.40% | 0.50% |
IN Bay Technonlogy Inc [Member] | Technology [Member] | Convertible Debt Securities [Member] | Convertible Note 12% Due February 2022 [Member] | |||
Interest percentage | 12.00% | 12.00% | |
Maturity date | 2022-02 | 2022-02 | |
Investment Owned, Percent of Net Assets | [2] | 0.60% | 0.80% |
IN Bay Technonlogy Inc [Member] | Technology [Member] | Convertible Debt Securities [Member] | Convertible Note 12% Due December 2022 [Member] | |||
Interest percentage | 12.00% | 12.00% | |
Maturity date | 2022-12 | 2022-12 | |
Investment Owned, Percent of Net Assets | [2] | 0.40% | 0.60% |
IN Bay Technonlogy Inc [Member] | Technology [Member] | Convertible Debt Securities [Member] | Convertible Note 12% Due December 2023 [Member] | |||
Interest percentage | 12.00% | ||
Maturity date | 2023-12 | ||
Investment Owned, Percent of Net Assets | [2] | 0.50% | |
Iris R And D Group Inc [Member] | Technology [Member] | Convertible Debt Securities [Member] | Convertible Note 8% Due December 2023 [Member] | |||
Interest percentage | 8.00% | ||
Maturity date | 2023-05 | ||
Investment Owned, Percent of Net Assets | [2] | 0.50% | |
Kiana Analytics [Member] | Technology [Member] | Convertible Debt Securities [Member] | Convertible Note 3% Due December 2022 [Member] | |||
Interest percentage | 3.00% | 3.00% | |
Maturity date | 2022-12 | 2022-12 | |
Investment Owned, Percent of Net Assets | 0.90% | 1.40% | |
Kiotech Medical Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 6% Due December 2020 [Member] | |||
Interest percentage | 6.00% | 6.00% | |
Maturity date | 2020-12 | 2020-12 | |
Investment Owned, Percent of Net Assets | 2.30% | 3.50% | |
Kiotech Medical Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 6% Due November 2022 [Member] | |||
Interest percentage | 6.00% | 6.00% | |
Maturity date | 2022-11 | 2022-11 | |
Investment Owned, Percent of Net Assets | 0.80% | 1.20% | |
Lifewave Biomedical Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 6% Due December 2020 [Member] | |||
Interest percentage | 6.00% | 6.00% | |
Maturity date | 2020-12 | 2020-12 | |
Investment Owned, Percent of Net Assets | 0.30% | 0.50% | |
Lifewave Biomedical Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 6% Due November 2021 [Member] | |||
Interest percentage | 6.00% | 6.00% | |
Maturity date | 2020-12 | 2020-12 | |
Investment Owned, Percent of Net Assets | 0.70% | 1.10% | |
Lifewave Biomedical Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 6% Due November 2021 [Member] | |||
Interest percentage | 6.00% | ||
Maturity date | 2021-12 | ||
Investment Owned, Percent of Net Assets | 0.50% | ||
Lowell Therapeutics Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 8% No Due Date [Member] | |||
Interest percentage | 8.00% | ||
Investment Owned, Percent of Net Assets | 0.30% | ||
Lowell Therapeutics Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series A Preferred Stock [Member] | |||
Number of shares | 20,000 | 20,000 | |
Investment Owned, Percent of Net Assets | 0.50% | 0.70% | |
Lowell Therapeutics Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series A Preferred Stock One [Member] | |||
Number of shares | 20,000 | 20,000 | |
Investment Owned, Percent of Net Assets | 0.70% | ||
Lowell Therapeutics Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series B Preferred Stock [Member] | |||
Number of shares | 25,000 | ||
Investment Owned, Percent of Net Assets | 0.90% | ||
MM Tron Inc [Member] | Technology [Member] | Convertible Debt Securities [Member] | Convertible Note 4% Due April 2023 [Member] | |||
Interest percentage | 4.00% | ||
Maturity date | 2023-04 | ||
Investment Owned, Percent of Net Assets | 0.90% | ||
Navaux Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 6% Due December 2023 [Member] | |||
Interest percentage | 6.00% | 6.00% | |
Maturity date | 2023-12 | 2023-12 | |
Investment Owned, Percent of Net Assets | 0.60% | 0.90% | |
Neuro Fouty Two Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 8% Due December 2023 [Member] | |||
Interest percentage | 8.00% | 8.00% | |
Maturity date | 2023-12 | 2023-12 | |
Investment Owned, Percent of Net Assets | 0.50% | 0.70% | |
Octagon Therapeutics Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 5% Due June 2021 [Member] | |||
Interest percentage | 5.00% | 5.00% | |
Maturity date | 2021-06 | 2021-06 | |
Investment Owned, Percent of Net Assets | 0.50% | 0.70% | |
Octagon Therapeutics Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 5% Due June 2021 [Member] | |||
Interest percentage | 5.00% | 5.00% | |
Maturity date | 2021-06 | 2021-06 | |
Investment Owned, Percent of Net Assets | 0.50% | 0.70% | |
Perikinetics Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 6% Due May 2022 [Member] | |||
Interest percentage | 6.00% | 6.00% | |
Maturity date | 2022-05 | 2022-05 | |
Investment Owned, Percent of Net Assets | 1.00% | 1.50% | |
Preview Medical Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 7% Due January 2023 [Member] | |||
Interest percentage | 7.00% | 7.00% | |
Maturity date | 2023-01 | 2023-01 | |
Investment Owned, Percent of Net Assets | 1.00% | 1.50% | |
Promaxo Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 5% Due July 2022 [Member] | |||
Interest percentage | 5.00% | ||
Maturity date | 2022-07 | ||
Investment Owned, Percent of Net Assets | 1.70% | ||
Promaxo Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series B-1 Preferred Converted Note [Member] | |||
Number of shares | 104,248 | ||
RheosInc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 8% Due August 2026 [Member] | |||
Interest percentage | 8.00% | ||
Maturity date | 2026-08 | ||
Investment Owned, Percent of Net Assets | 0.90% | ||
Saccharo Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 7% Due September 2022 [Member] | |||
Interest percentage | 7.00% | ||
Maturity date | 2022-09 | ||
Investment Owned, Percent of Net Assets | 0.50% | ||
Sage Medic Corp [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 8% Due April 2021 Plus Warrants [Member] | |||
Interest percentage | 8.00% | 8.00% | |
Maturity date | 2021-04 | 2021-04 | |
Investment Owned, Percent of Net Assets | 0.60% | 0.80% | |
Sage Medic Corp [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 8% Due December 2022 Plus Warrants [Member] | |||
Interest percentage | 8.00% | 8.00% | |
Maturity date | 2022-12 | 2022-12 | |
Investment Owned, Percent of Net Assets | 0.70% | 1.10% | |
Single Pass Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 6% April 2024 [Member] | |||
Interest percentage | 6.00% | ||
Maturity date | 2024-04 | ||
Investment Owned, Percent of Net Assets | 0.50% | ||
Valfix Medical Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 8% December 2021 [Member] | |||
Interest percentage | 8.00% | 8.00% | |
Maturity date | 2021-12 | 2021-12 | |
Investment Owned, Percent of Net Assets | [2] | 0.50% | 0.80% |
Valfix Medical Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series Seed Preferred [Member] | |||
Number of shares | 27,217 | 27,217 | |
Investment Owned, Percent of Net Assets | [2] | 0.50% | 0.70% |
Xpan Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 8% March 2025 [Member] | |||
Investment Owned, Percent of Net Assets | [2] | 0.50% | |
Xpan Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 8% June 2022 [Member] | |||
Interest percentage | 8.00% | 8.00% | |
Maturity date | 2022-06 | 2022-06 | |
Investment Owned, Percent of Net Assets | [2] | 0.30% | 0.40% |
Xpan Inc [Member] | Life science [Member] | Convertible Debt Securities [Member] | Convertible Note 8% June 2022 [Member] | |||
Interest percentage | 8.00% | 8.00% | |
Maturity date | 2022-06 | 2022-06 | |
Investment Owned, Percent of Net Assets | [2] | 0.30% | 0.40% |
Xpan Inc [Member] | Life science [Member] | Corporate Note Securities [Member] | Convertible Note 8% March 2025 [Member] | |||
Interest percentage | 8.00% | 8.00% | |
Maturity date | 2022-03 | 2022-03 | |
Investment Owned, Percent of Net Assets | [2] | 0.80% | |
Altis Biosystems [Member] | Life science [Member] | Preferred Investments [Member] | Series Seed Preferred [Member] | |||
Number of shares | 22,028 | 22,028 | |
Investment Owned, Percent of Net Assets | 0.50% | 0.70% | |
Astrocyte Pharmaceuticals Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series A Preferred Stock [Member] | |||
Number of shares | 260,756 | 260,756 | |
Investment Owned, Percent of Net Assets | 0.90% | 1.40% | |
Cnote Group Inc [Member] | Fintech [Member] | Preferred Investments [Member] | Series Seed-2 Preferred [Member] | |||
Number of shares | 84,655 | 84,655 | |
Investment Owned, Percent of Net Assets | 0.60% | 0.90% | |
Cnote Group Inc [Member] | Fintech [Member] | Preferred Investments [Member] | Series Seed-3 Preferred [Member] | |||
Number of shares | 93,807 | 93,807 | |
Investment Owned, Percent of Net Assets | 0.60% | 0.90% | |
Connectus Services Ltd [Member] | Technology [Member] | Preferred Investments [Member] | Series Seed Preferred [Member] | |||
Number of shares | 31,348 | 31,348 | |
Investment Owned, Percent of Net Assets | [2] | 0.90% | 1.40% |
Eumentis Thereapeutics Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series A Preferred Stock [Member] | |||
Number of shares | 85,009 | 85,009 | |
Investment Owned, Percent of Net Assets | 0.90% | 1.40% | |
Femto DX Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series A Preferred Stock [Member] | |||
Number of shares | 42,436 | 42,436 | |
Investment Owned, Percent of Net Assets | 2.70% | 2.30% | |
Healionics Corporation [Member] | Life science [Member] | Preferred Investments [Member] | Series A-1 Preferred [Member] | |||
Number of shares | 35,075 | ||
Investment Owned, Percent of Net Assets | 0.90% | ||
ILumen Scientific Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series A Preferred Plus Warrants [Member] | |||
Number of shares | 50,000 | 50,000 | |
Investment Owned, Percent of Net Assets | 0.50% | 0.70% | |
ILumen Scientific Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series A Preferred Plus Warrants One[Member] | |||
Number of shares | 50,000 | 50,000 | |
Investment Owned, Percent of Net Assets | 0.50% | 0.70% | |
Inhalon Biopharma Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series Seed Preferred [Member] | |||
Number of shares | 18,843 | 18,843 | |
Investment Owned, Percent of Net Assets | 0.90% | 1.40% | |
Light Line Medical Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series Seed Preferred [Member] | |||
Number of shares | 40,323 | 40,323 | |
Investment Owned, Percent of Net Assets | 0.20% | 0.40% | |
Light Line Medical Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series A Preferred Plus Warrants [Member] | |||
Number of shares | 72,464 | 72,464 | |
Investment Owned, Percent of Net Assets | 0.50% | 0.70% | |
Light Line Medical Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series Seed Preferred Converted Note [Member] | |||
Number of shares | 62,849 | 62,849 | |
Investment Owned, Percent of Net Assets | 0.40% | 0.50% | |
Light Line Medical Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series Seed Preferred Converted Note One [Member] | |||
Number of shares | 141,871 | 141,871 | |
Investment Owned, Percent of Net Assets | 1.00% | 1.50% | |
Makani Science Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series Seed Preferred [Member] | |||
Number of shares | 172,413 | ||
Investment Owned, Percent of Net Assets | 0.50% | ||
Micronic Technologies Inc [Member] | Technology [Member] | Preferred Investments [Member] | Series Seed-1 Preferred Plus Warrants [Member] | |||
Number of shares | 51,929 | 51,929 | |
Investment Owned, Percent of Net Assets | 0.90% | 1.40% | |
Neuroflow Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series Seed-2 Preferred [Member] | |||
Number of shares | 98,684 | 98,684 | |
Investment Owned, Percent of Net Assets | 2.10% | 3.20% | |
Neuroflow Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series B Preferred Stock [Member] | |||
Number of shares | 20,429 | 20,429 | |
Investment Owned, Percent of Net Assets | 2.00% | 3.00% | |
New View Surgical Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series A-1 Preferred [Member] | |||
Number of shares | 53,825 | 53,825 | |
Investment Owned, Percent of Net Assets | 0.70% | 1.10% | |
New View Surgical Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series A-1 Preferred [Member] | |||
Number of shares | 58,220 | ||
Investment Owned, Percent of Net Assets | 0.90% | ||
Orion Biotechnology Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series A Preferred Stock [Member] | |||
Number of shares | 5,824 | ||
Investment Owned, Percent of Net Assets | [2] | 0.90% | |
Otomagnetics Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series A-1 Preferred Plus Warrants [Member] | |||
Number of shares | 16,538 | 16,538 | |
Investment Owned, Percent of Net Assets | 0.90% | 1.40% | |
Partheous Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series A Preferred Stock [Member] | |||
Number of shares | 50,000 | ||
Investment Owned, Percent of Net Assets | 0.50% | ||
Seal Rock Therapeutics Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series Seed Preferred Converted Note [Member] | |||
Number of shares | 68,075 | 68,075 | |
Investment Owned, Percent of Net Assets | 1.80% | 1.10% | |
Shyft F K A Crater Group Inc [Member] | Technology [Member] | Preferred Investments [Member] | Series A Preferred Stock [Member] | |||
Investment Owned, Percent of Net Assets | 0.80% | ||
Shyft F K A Crater Group Inc [Member] | Technology [Member] | Preferred Investments [Member] | Series A-1 Preferred [Member] | |||
Number of shares | 42,657 | 42,657 | |
Investment Owned, Percent of Net Assets | 1.00% | 1.40% | |
Shyft F K A Crater Group Inc [Member] | Technology [Member] | Preferred Investments [Member] | Series A Preferred Converted Note [Member] | |||
Number of shares | 28,147 | 28,147 | |
Investment Owned, Percent of Net Assets | 0.90% | ||
Shyft F K A Crater Group Inc [Member] | Technology [Member] | Preferred Investments [Member] | Series A-1 Preferred Converted Note [Member] | |||
Number of shares | 21,774 | 21,774 | |
Investment Owned, Percent of Net Assets | 0.70% | 0.70% | |
Trellis Bioscience LLC [Member] | Life science [Member] | Preferred Investments [Member] | Series B Preferred Plus Warrants [Member] | |||
Number of shares | 50,000 | 50,000 | |
Investment Owned, Percent of Net Assets | [1] | 0.50% | 0.70% |
Trellis Bioscience LLC [Member] | Life science [Member] | Preferred Investments [Member] | SeriesB Preferred Plus Warrants One [Member] | |||
Number of shares | 50,000 | 50,000 | |
Investment Owned, Percent of Net Assets | [1] | 0.50% | 0.70% |
Trellis Bioscience LLC [Member] | Life science [Member] | Preferred Investments [Member] | Series B Preferred Plus Warrants Two [Member] | |||
Number of shares | 100,000 | 100,000 | |
Investment Owned, Percent of Net Assets | [1] | 1.40% | |
Trellis Bioscience LLC [Member] | Technology [Member] | Preferred Investments [Member] | Series B Preferred Plus Warrants Two [Member] | |||
Investment Owned, Percent of Net Assets | [1] | 0.90% | |
Vesteck Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series A Preferred Stock [Member] | |||
Investment Owned, Percent of Net Assets | 0.90% | ||
Vesteck Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series A Preferred Converted Note [Member] | |||
Number of shares | 34,783 | ||
Visgenx Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series Seed Preferred Converted Note [Member] | |||
Number of shares | 4,132 | 4,132 | |
Investment Owned, Percent of Net Assets | 0.20% | 0.40% | |
Visgenx Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series Seed Preferred Converted Note One [Member] | |||
Number of shares | 2,480 | 2,480 | |
Investment Owned, Percent of Net Assets | 0.10% | 0.20% | |
Visgenx Inc [Member] | Life science [Member] | Preferred Investments [Member] | Series Seed-1 Preferred Converted Note [Member] | |||
Number of shares | 7,833 | 7,833 | |
Investment Owned, Percent of Net Assets | 0.40% | 0.70% | |
Benda R X Corp [Member] | Life science [Member] | Common Stock Investments [Member] | Common Stock [Member] | |||
Number of shares | 12,500 | 12,500 | |
Investment Owned, Percent of Net Assets | [2] | 1.40% | 2.10% |
Benda R X Corp [Member] | Life science [Member] | Common Stock Investments [Member] | Common Stock One [Member] | |||
Number of shares | 12,500 | 12,500 | |
Investment Owned, Percent of Net Assets | [2] | 1.40% | 2.10% |
Boardwalk Tech [Member] | Life science [Member] | Common Stock Investments [Member] | Common Stock [Member] | |||
Number of shares | 150,000 | ||
Investment Owned, Percent of Net Assets | 1.30% | ||
Boardwalk Tech [Member] | Technology [Member] | Common Stock Investments [Member] | Common Stock [Member] | |||
Number of shares | 75,000 | ||
Investment Owned, Percent of Net Assets | 0.60% | ||
Boardwalk Tech [Member] | Technology [Member] | Common Stock Investments [Member] | Common Stock One [Member] | |||
Number of shares | 150,000 | ||
Investment Owned, Percent of Net Assets | 0.90% | ||
Kuantsol Inc [Member] | Technology [Member] | Common Stock Investments [Member] | Common Stock [Member] | |||
Number of shares | 133.333 | ||
Investment Owned, Percent of Net Assets | 0.20% | ||
Sanaby Health Sponsor LLC [Member] | Life science [Member] | Common Stock Investments [Member] | Common Stock [Member] | |||
Number of shares | 50,000 | ||
Investment Owned, Percent of Net Assets | 4.40% | ||
Enduralock LLC [Member] | Technology [Member] | Other Investment [Member] | Series A-1 Ownership Units [Member] | |||
Number of shares | 34.1 | 34.1 | |
Investment Owned, Percent of Net Assets | 0.30% | 0.40% | |
Enduralock LLC [Member] | Technology [Member] | Other Investment [Member] | Series A-1 Ownership Units 1 [Member] | |||
Number of shares | 39.7 | 39.7 | |
Investment Owned, Percent of Net Assets | 0.30% | 0.50% | |
Green Sun Medical LLC [Member] | Life science [Member] | Other Investment [Member] | Class A-1 Preferred Ownership Units [Member] | |||
Number of shares | 2,193 | 2,193 | |
Investment Owned, Percent of Net Assets | 0.50% | 0.70% | |
Green Sun Medical LLC [Member] | Life science [Member] | Other Investment [Member] | Class A-1 Preferred Ownership Units 1 [Member] | |||
Number of shares | 1,096 | 1,096 | |
Investment Owned, Percent of Net Assets | 0.20% | 0.40% | |
Green Sun Medical LLC [Member] | Life science [Member] | Other Investment [Member] | Class A-1 Preferred Ownership Units 2 [Member] | |||
Number of shares | 1,096 | 1,096 | |
Investment Owned, Percent of Net Assets | 0.20% | 0.40% | |
Green Sun Medical LLC [Member] | Life science [Member] | Other Investment [Member] | Class A-1 Preferred Ownership Units 3 [Member] | |||
Number of shares | 4,386 | ||
Investment Owned, Percent of Net Assets | 0.90% | ||
Promaxo [Member] | Life science [Member] | Preferred Investments [Member] | Series B-1 Preferred Converted Note [Member] | |||
Number of shares | 104,248 | ||
Investment Owned, Percent of Net Assets | 7.60% | ||
[1] | Kyto representatives sit on the Board of Directors of these companies. | ||
[2] | These companies are headquartered outside of the US. |
DESCRIPTION OF BUSINESS
DESCRIPTION OF BUSINESS | 6 Months Ended |
Sep. 30, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
DESCRIPTION OF BUSINESS | NOTE 1 – DESCRIPTION OF BUSINESS Kyto Technology and Life Science, Inc. (the “Company”) was formed as a Florida corporation on March 5, 1999 under the name of B Twelve, Inc. In August, 2002, the Company changed its name from B Twelve, Inc. to Kyto BioPharma Inc. and in May 2018, the name was changed again to Kyto Technology and Life Science, Inc. In July 2019, the Company was re-incorporated as a Delaware company. The Company operates virtually, from public locations or the homes of its officers, and does not currently lease any office space. The Company was originally formed to acquire and develop proprietary drugs for the treatment of cancer, arthritis, and other autoimmune diseases and had been evaluating a number of strategies. As of March 31, 2018, the Company had accumulated a deficit of $ 32,380,746 250,000 5 The Company has one regular employee – the CEO, Mr, Paul Russo. Prior to December 31, 2020, Mr. Russo was acting as a consultant to the Company and did not receive contractual compensation for his services in the form of cash. As of January 1, 2021, Mr. Russo was engaged as an employee of the Company at a salary of $ 400,000 per annum of which 60 % was paid monthly from January to April 2021, then 75 % from May 2021, with the balance being deferred to be paid once the Company lists and starts trading on the Nasdaq exchange. The full terms of Mr. Russo’s employment are described in a Form 8-K filed on February 1, 2021, which was approved by the Compensation committee of the Board of Directors on that date. During the three months and six months ended September 30, 2021, Mr. Russo received gross pay of $ 90,000 and $ 170,000 , respectively. No consulting fees and no options were granted to him during these periods. During the three months and six months ended September 30, 2020, Mr. Russo received no payroll or consulting fees, however in the three and six months ended September 30, 2020 he received a bonus of $ 50,000 and was granted options to purchase 215,000 shares of Common stock. The Company has created a portfolio of minority investments in early-stage start-up companies and derives its revenue opportunity from the sale of those investments. Such sales are outside the Company’s control and depend on M&A transactions or IPOs which may result in cash or equity proceeds. Accordingly, it is difficult to forecast revenue, net income, and cash flow. As of the date of this filing, the Company had approximately $ 485,000 At March 31, 2020, management determined that the Company was an investment company for purposes of Accounting Standards Codification Topic 946, Financial Services—Investment Companies (ASC Topic 946) As a BDC, the Company will be required to comply with certain regulatory requirements. The Company also intends to elect to be treated for U.S. federal income tax purposes as a regulated investment company (“RIC”) under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”). As a RIC, the Company is required to comply with additional regulatory requirements. The Company has prepared and submitted sequentially two N-2 Registration Statements to the SEC for review but has not yet received final approval of its registration as at the filing date of this report. |
BASIS OF PRESENTATION AND SIGNI
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES | 6 Months Ended |
Sep. 30, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES | NOTE 2 - BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (A) BASIS OF PRESENTATION The accompanying unaudited condensed financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information with the instructions to Form 10-Q and Rule 8-03 of Regulation S-X. Accordingly, these unaudited condensed financial statements do not include all of the information and disclosures required by U.S. GAAP for complete financial statements. In the opinion of management, the accompanying unaudited condensed financial statements include all adjustments (consisting only of normal recurring adjustments), which the Company considers necessary, for a fair presentation of those financial statements. The results of operations and cash flows for the three months and six months ended September 30, 2021 may not necessarily be indicative of results that may be expected for any succeeding quarter or for the entire fiscal year. The condensed balance sheet as of March 31, 2021 was derived from the audited financial statements at that date, but does not include all the information and footnotes required by U.S. GAAP. The information contained in this Quarterly Report on Form 10-Q should be read in conjunction with the audited financial statements of the Company for the year ended March 31, 2021, included in the Annual Report on Form 10-K as filed with the Securities and Exchange Commission (the “SEC”) on August 10, 2021. The Company’s condensed interim financial statements are prepared in accordance with U.S. GAAP, which requires the use of estimates, assumptions and the exercise of subjective judgment as to future uncertainties. Actual results could differ from those estimates, assumptions, and judgments. Significant items subject to such estimates will include determining the fair value of investments, revenue recognition, income tax uncertainties, stock-based compensation, and other contingencies. The Company’s financial statements are prepared using the specialized accounting principles of ASC Topic 946. (B) INVESTMENT TRANSACTIONS AND NET REALIZED AND UNREALIZED GAIN OR LOSS ON INVESTMENTS The Company generates increases or decreases in its net assets from the sale of complete or partial investments following a merger or acquisition (“M&A”) transaction or restructuring or from the revaluation of portfolio company investments to recognize changes in their fair value, either upwards or downwards. As a minority early-stage investor, the Company does not have the ability to manage the timing or acceptance of liquidity events that will realize its investments, nor the ability to predict when they may happen, although as a general guideline, it would expect such events to occur approximately four to five years after its investments are made. The Company records the realized gains and losses from investment activities upon completion of sale and receipt of net proceeds, after deducting related transaction expenses. Realized gains or losses on the sale of investments, or upon the determination that an investment balance, or portion thereof, is not recoverable, are calculated using the specific identification method. The Company measures realized gains or losses by calculating the difference between the net proceeds from the repayment or sale and the cost basis of the investment. Net change in unrealized appreciation or depreciation reflects the change in the fair values of the Company’s portfolio investments during the reporting period, including any reversal of previously recorded unrealized appreciation or depreciation when gains or losses are realized. The Company is in periodic contact with the management of its portfolio investment companies to provide a basis for valuation changes. The Company does not expect to receive interest and principal repayments on its convertible notes and generally expects these notes to convert into equity securities upon completion of qualified subsequent financings. Accrued interest is recorded as an adjustment to the fair value of the convertible notes. (C) INCOME TAXES The Company accounts for income taxes under the Financial Accounting Standards Accounting Standard Codification Topic 740 “Accounting for Income Taxes” (“Topic 740” (D) USE OF ESTIMATES In preparing financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and revenues and expenses during the period presented. Actual results may differ from these estimates. Significant estimates during the three months and six months ended September 30, 2021 and September 30, 2020 include the valuation of the investment portfolio, deferred tax assets, tax valuation allowance, stock options and warrants. (E) CASH AND CASH EQUIVALENTS The Company considers all highly liquid investments with original maturities of three months or less at the time of purchase to be cash equivalents. There were no (F) CONCENTRATIONS The Company maintains its cash in bank checking and deposit accounts, which, at times, may exceed federally insured limits. As of September 30, 2021, and March 31, 2021, the Company’s bank balance exceeded the federally insured limit by approximately $ 70,000 1.2 (G) STOCK-BASED COMPENSATION Financial Accounting Standards Board Accounting Standards Codification Topic 718, “Stock Compensation” 490,000 510,000 740,000 510,000 (H) NET EARNINGS PER COMMON SHARE In accordance with Statement of Financial Accounting Standards Accounting Standard Codification Topic 260, “Earnings per Share” Weighted Average method Number of shares used in calculating fully- diluted earnings per common shares SCHEDULE OF EARNINGS PER SHARE Three months Six months Common Stock 13,271,996 13,269,764 Common stock subscribed not issued - - Series A preferred stock 4,200,000 4,200,000 Series B preferred stock 5,307,240 4,361,525 Options 2,962,792 2,835,262 Warrants 1,596,667 1,596,667 Total shares used in calculating fully-diluted earnings per common share 27,338,695 26,263,218 Three months Six months Common Stock issued 5,836,832 5,836,832 Series A preferred stock 4,200,000 4,200,000 Series B preferred stock 1,830,208 1,250,595 Options 1,920,000 1,571,429 Warrants 4,200,000 4,200,000 Total shares used in calculating fully-diluted earnings per common share 17,987,040 17,058,856 (I ) INVESTMENT AND VALUATION OF INVESTMENT AT FAIR VALUE The Company reviews the performance of its investments based on available information, including management reports, press releases, web site announcements and progress reports, third party equity updates, management interviews and, where accessible, financial reports, to determine their fair values. In the event that management considers the fair value of an investment to be greater or less than the current book value, the difference will be reflected as unrealized gains or losses in investments in the statements of operations. The Company adopted Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 820, “Fair Value Measurements and Disclosures”, Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. Fair value is an exchange price notion under which fair value is the price in an orderly transaction between market participants to sell an asset or transfer a liability in the market in which the reporting entity would transact for the asset or liability. The Company has established procedures to estimate the fair value of its investments which the Company’s board of directors has reviewed and approved. The Company uses observable market data to estimate the fair value of investments to the extent that market data is available. In the absence of quoted market prices in active markets, or quoted market prices for similar assets or in markets that are not active, the Company uses the valuation methodologies described below with unobservable data based on the best available information in the circumstances, which incorporates the Company’s assumptions about the factors that a market participant would use to value the asset. For investments for which quoted market prices are not available, which comprise most of our investment portfolio, fair value is estimated by using the income, market, or back-solve approach. The income approach is based on the assumption that value is created by the expectation of future benefits discounted to a current value and the fair value estimate is the amount an investor would be willing to pay to receive those future benefits. The market approach compares recent comparable transactions to the investment. The back solve method involves comparing available data over a period of time and inferring a new valuation based on changes from a known starting point, for example the cost of an investment. Adjustments are made for any dissimilarity between the comparable transactions and the investments. These valuation methodologies involve a significant degree of judgment on the part of our management and board. In determining the appropriate fair value of an investment using these approaches, the most significant information and assumptions may include, as applicable: available current market data, including relevant and applicable comparable market transactions, applicable market yields and multiples, security covenants, call protection provisions, information rights, the nature and realizable value of any collateral, the investment’s ability to make payments, its earnings and discounted cash flows, the markets in which the company does business, comparisons of financial ratios of peer companies that are public, merger and acquisition comparables, the principal market and enterprise values, environmental factors, subsequent financings by the portfolio investment, among other factors. The estimated fair values do not necessarily represent the amounts that may be ultimately realized due to the occurrence or nonoccurrence of future circumstances that cannot be reasonably determined. Because of the inherent uncertainty of the valuation of the investments, the estimate of fair values may differ significantly from the value that would have been used had a broader market for the investments existed. The authoritative accounting guidance prioritizes the use of market-based inputs over entity-specific inputs and establishes a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation. The three levels of valuation hierarchy are defined as follows: Level 1: Observable inputs such as quoted market prices in active markets for identical assets or liabilities Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data Level 3: Unobservable inputs for which there is little or no market data, which require the use of the reporting entity’s own assumptions. Most of the Company’s investments are Level 3. Critical accounting policies and practices are the policies that are both most important to the portrayal of the Company’s financial condition and results, and require management’s most difficult, subjective, or complex judgments, often as a result of the need to make estimates about matters that are inherently uncertain. These include estimates of the fair value of Level 3 investments and other estimates that affect the reported amounts of assets and liabilities as of the date of the consolidated financial statements and the reported amounts of certain revenues and expenses during the reporting period. It is likely that changes in these estimates will occur in the near term. The Company’s estimates are inherently subjective in nature and actual results could differ materially from such estimates. See “Note 1 – Significant Accounting Policies” to our financial statements as of March 31, 2021, as filed with the SEC on August 10, 2021, for further detail regarding our critical accounting policies and recently issued or adopted accounting pronouncements. (J) RECENT ACCOUNTING PRONOUNCEMENTS Management does not believe that any recently issued, but not yet effective, accounting standards if currently adopted would have a material effect on the accompanying financial statements. (K) OTHER CURRENT ASSETS Other current assets principally include deferred offering costs. Since April 2019, the Company has conducted a series of sales of common and preferred stock to fund its ongoing investment program and cost of operations. Typically, it expects that raising capital through the sale of any series of securities, from start to finish, may take from six to nine months and in order to match the cost and benefits of this process, the Company adopted a policy of capitalizing direct expenses incurred in the course of raising capital, with the intention of netting accumulated expenses against proceeds from sale of equity, and reporting the net funds raised at the close. Direct expenses include legal fees, investor relations fees, investor roadshows and meeting expenses, and related filing and printing fees. At September 30, 2021 and March 31, 2021, the Company had deferred $ 230,434 169,891 |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 6 Months Ended |
Sep. 30, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | NOTE 3 – COMMITMENTS AND CONTINGENCIES The Company has no commitments or contingencies as of the date of this filing. The Company may be subject to litigation during the normal course of business but has not received any such claims to date. |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 6 Months Ended |
Sep. 30, 2021 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | NOTE 4 - RELATED PARTY TRANSACTIONS At September 30, 2021 and March 31, 2021, the Company had accrued and owed $ 87,000 51,420 At September 30, 2021, officers or directors of the Company held board positions at four portfolio companies: Beam Semiconductor Inc., Trellis Bioscience Inc., Exodos Life Sciences LP, and Achelios Therapeutics Inc. |
INVESTMENTS
INVESTMENTS | 6 Months Ended |
Sep. 30, 2021 | |
Investments, All Other Investments [Abstract] | |
INVESTMENTS | NOTE 5 – INVESTMENTS The following table summarizes the Company’s investment portfolio at September 30, 2021 and March 31, 2021. SUMMARY OF INVESTMENT PORTFOLIO September 30, 2021 March 31, 2021 Number of portfolio companies 66 51 Fair value $ 10,442,813 $ 6,821,407 Cost 7,904,636 5,686,545 % of portfolio at fair value Convertible notes 3,801,833 36.4 % 2,553,954 37.4 % Preferrred stock 4,538,653 43.5 % 3,129,458 45.9 % Common stock 956,327 9.2 % 391,995 5.7 % SAFE 575,000 5.5 % 325,000 4.8 % Other ownership units 571,000 5.5 % 421,000 6.2 % Total $ 10,442,813 100 % $ 6,821,407 100 % A SAFE is a Simple Agreement for Future Equity in the form of a warrant to purchase equity stock in a future priced round. Our investment portfolio represents approximately 96 98 Significant Unobservable Inputs for Level 3 Assets and Liabilities In accordance with FASB ASC 820, Fair Value Management The following table summarizes the valuation techniques and significant unobservable inputs used for investments that are categorized within Level 3 of the fair value hierarchy as of September 30, 2021 and March 31, 2021: SCHEDULE OF INVESTMENTS As of September 30, 2021 Fair Value Valuation Approach/ Technique Unobservable Inputs Range/ Weighted Average Convertible notes: Basepaws Inc $ 201,663 Market approach based on indicative term sheet and last round of financing As if converted note and Series A term sheet of $37.5 million 50:50 weight Convertible notes: Promaxo Inc 183,876 Market approach based on available comparables and financial performance Conversion prospects, market yield, remaining maturity 5 Convertible notes: Other 3,416,294 Market approach based on available comparables and financial performance Conversion prospects, market yield, remaining maturity 1 12 Preferred stock in private companies” Shyft Moving Inc 269,820 Market approach based on indicative term sheet and last round of financing 50/50 weighting to prior A-3 preferred and indicated pre Series B price. Forecast revenue from investor deck and 75% percentile for public company peer valuation ratios Based on Series B valuation of $ 80 Preferred stock in private companies: Seal Rock Therapeutics Inc 199,112 Market approach based on indicative term sheet and last round of financing 50/50 weighting to prior Series seed preferred and indicated Note price. 75% percentile for public company peer valuation ratios Based on new Note indication of $ 80 Preferred stock in private companies: Femto DX Inc 290,046 Market approach based on indicative term sheet and last round of financing 50/50 weighting to prior Series B-2 preferred price and public market. 75% percentile for public company peer valuation ratios Based on Series B valuation of $ 170 Preferred stock in private companies: Promaxo Inc 1,034,984 Market approach based on available comparables and financial performance a) Last round of financing for series B-2 price, 118% change in enterprise value 75th percentile b) revenue multiples 2021 13.3X 2022 9.3x 0 168.3 Preferred stock in private companies: Other 2,744,691 Market approach based on available comparables and financial performance Market approach based on available information from portfolio companies Various Common stock in private companies 325,000 Market approach based on available comparables and financial performance Historic or projected revenue and/or EBITDA multiples discounted for lack of marketability Various SAFE 575,000 Market approach based on available comparables and financial performance Precedent and follow-on transactions adjusted for marketability Various Other investments 571,000 Market approach based on available comparables and financial performance Precedent and follow-on transactions adjusted for marketability Various Total Investments $ 9,811,486 As of March 31, 2021 Fair Value Valuation Approach/ Technique Unobservable Inputs Range/ Weighted Average Convertible notes: Kitotech Medical Inc $ 326,871 Market approach based on available comparables and financial performance Market cap of $ 28.51 Range : $ 28.514 Convertible notes 2,227,083 Market approach based on available comparables and financial performance Conversion prospects, market yield, remaining maturity 1 12 Preferred stock in private companies: Femto DX Inc 159,835 Market approach based on available comparables and financial performance Based on Series B financing and public company peer multiples using 50:50 percentile Market value of invested capital $ 58.66 Preferred stock in private companies: Neuroflow Inc 437,495 Market approach based on available comparables and financial performance Based on Series Seed 2 and last round of financing - Series B Market value of invested capital $ 57.98 Preferred stock in private companies: other 2,532,128 Market approach based on available comparables and financial performance Market approach based on available information from portfolio companies Various Common stock in private companies 300,000 Market approach based on available comparables and financial performance Historic or projected revenue and/or EBITDA multiples Various SAFE 325,000 Market approach based on available comparables and financial performance Precedent and follow-on transactions adjusted for marketability Various Other investments 421,000 Market approach based on available comparables and financial performance Precedent and follow-on transactions adjusted for marketability Various Total Investments $ 6,729,412 The following table presents fair value measurements of investments, by major class, as of September 30, 2021, and March 31, 2021, according to the fair value hierarchy: SCHEDULE OF INVESTMENTS AT FAIR VALUE MEASUREMENTS OF INVESTMENTS As of September 30, 2021 Quoted prices in active markets for identical securities Significant other observable inputs Significant unobservable inputs Description (Level 1) (Level 2) (Level 3) Total Investments at Fair Value Private Portfolio Companies Convertible notes $ - $ $ 3,801,833 $ 3,801,833 Preferred stock - - 4,538,653 4,538,653 Common stock - - 325,000 325,000 SAFEs - - 575,000 575,000 Other ownership interests - - 571,000 571,000 - - 9,811,486 9,811,486 Public Portfolio Companies Common stock 631,327 - - 631,327 Total Investments at Fair value $ 631,327 $ - $ 9,811,486 $ 10,442,813 As of March 31, 2021 Description Level 1 Level 2 Level 3 Total March 31, 2021 Investments at Fair Value Private Portfolio Companies Convertible notes $ - $ - $ 2,553,954 $ 2,553,954 Preferred stock - - 3,129,458 3,129,458 Common stock - - 300,000 300,000 SAFEs - - 325,000 325,000 Other ownership interests - - 421,000 421,000 - - 6,729,412 6,729,412 Public Portfolio Companies Common stock 91,995 - - 91,995 Total Investments at Fair value $ 91,995 $ - $ 6,729,412 $ 6,821,407 As of September 30, 2021, and March 31, 2021, all our investments were treated as Level 3 with the exception of two which are invested in common stock of a public company and treated as Level 1. We focus on making our investments in the United States, Canada, and Israel. All investments are made and reported in U.S. dollars. Assets that are denominated in foreign currencies are translated into U.S. dollars at closing rates of exchange on the date of valuation. Transactions during the year are translated at the rate of exchange prevailing on the date of the transaction. The Company does not isolate that portion of results of operations resulting from the changes in foreign exchange rates on securities from fluctuations resulting from changes in market prices of such securities. Such foreign currency translation gains and losses are included in the net realized gains or losses from investments and net changes in unrealized gain or losses from investments on the statement of operations. SCHEDULE OF INVESTMENTS IN UNREALIZED GAIN OR LOSSES FOREIGN EXCHANGE RATES ON SECURITIES America Canada Rest of World Total Fair value beginning of year March 31, 2021 $ 5,486,011 $ 907,560 $ 427,836 $ 6,821,407 New investments 1,668,091 200,000 350,000 2,218,091 Proceeds from sale of investments - - - - Realized gains - - - - Net change in unrealized gains included in condensed Statements of Operations 1,360,028 29,556 13,731 1,403,315 Fair value end of six months September 30, 2021 $ 8,514,130 $ 1,137,116 $ 791,567 $ 10,442,813 Changes in unrealized gains or losses for the period included in Condensed Statement of Operations for assets held at the end of the reporting period. $ 1,403,315 America Canada Rest of World Total Fair value beginning of year March 31, 2020 $ 2,170,499 $ 245,000 $ 250,000 $ 2,665,499 New investments 540,000 150,000 50,000 740,000 Proceeds from sale of investments - - - - Realized gains - - - - Net change in unrealized gains included in condensed Statements of Operations 438,953 21,947 17,348 478,248 Fair value end of six months September 30, 2020 $ 3,149,452 $ 416,947 $ 317,348 $ 3,883,747 Changes in unrealized gains or losses for the period included in Condensed Statement of Operations for assets held at the end of the reporting period. $ 478,248 Working on the experience of our technical advisors, we limit our investments to fintech, technology, and life sciences. Fintech Technology Life science Total Fair value beginning of year March 31, 2021 $ 126,030 $ 1,394,318 $ 5,301,059 $ 6,821,407 New investments - 590,600 1,627,491 2,218,091 Proceeds from sale of investments - - - - Realized gains - - - - Net change in unrealized gains included in condensed Statements of Operations - 45,531 1,357,784 1,403,315 Fair value end of six months September 30, 2021 $ 126,030 $ 2,030,449 $ 8,286,334 $ 10,442,813 Changes in unrealized gains or losses for the period included in Condensed Statement of Operations for assets held at the end of the reporting period. $ 1,403,315 Fintech Technology Life science Total Fair value beginning of year March 31, 2020 $ 101,500 $ 685,002 $ 1,878,997 $ 2,665,499 New investments - - 740,000 740,000 Proceeds from sale of investments - - - - Realized gains - - - - Net change in unrealized gains included in condensed Statements of Operations 24,530 37,769 415,949 478,248 Fair value end of six months September 30, 2020 $ 126,030 $ 722,771 $ 3,034,946 $ 3,883,747 Changes in unrealized gains or losses for the period included in Condensed Statement of Operations for assets held at the end of the reporting period. $ 478,248 We invest in early-stage private companies developing products or solutions in the fields of fintech, technology and life sciences. Typically, we are investing in interest bearing notes that may be convertible into equity securities upon the completion of qualified subsequent financings, preferred stock, SAFEs or other forms of ownership. Typically notes carry a two-year term and are then rolled over for additional periods if no other maturity triggers have been achieved. If a convertible note investment were, in our judgment, to become impaired, we would reverse the accrued interest and adjust the valuation to reflect management’s assessment of fair value. If a convertible note investment exceeds its maturity date we would request the portfolio company to document an extension, as well as consider whether the overdue note, along with all other available performance data and management reviews lead us to consider whether there should be an adjustment in fair value of the investment. There were no transfers into or out of Level 3 during the three and six months ended September 30, 2021 and September 30, 2020. SCHEDULE OF ADJUSTMENT IN FAIR VALUE TO REFLECT IMPAIRMENT OF INVESTMENT Convertible notes Preferred stock Common stock SAFEs Other ownership interests Total Fair value March 31, 2021 $ 2,553,954 $ 3,129,458 $ 391,995 $ 325,000 $ 421,000 $ 6,821,407 Conversions into preferred stock - - - - - - New investments 1,027,491 600,000 190,600 250,000 150,000 2,218,091 Proceeds from sale of investments - - - - - - Realized gains - - - - - - Unrealized gains included in condensed Statements of Operations 220,388 809,195 373,732 - - 1,403,315 Fair value September 30, 2021 $ 3,801,833 $ 4,538,653 $ 956,327 $ 575,000 $ 571,000 $ 10,442,813 Convertible notes Preferred stock Common stock SAFEs Other ownership interests Total Fair value March 31, 2020 $ 1,528,002 $ 701,497 $ 126,500 $ 73,500 $ 236,000 $ 2,665,499 Conversions into preferred stock (597,984 ) 678,313 - (80,329 ) - - New investments 100,000 440,000 100,000 - 100,000 740,000 Proceeds from sale of investments - - - - - - Realized gains - - - - - - Unrealized gains included in condensed Statements of Operations 178,986 279,433 (62,000 ) 81,829 - 478,248 Fair value September 30, 2020 $ 1,209,004 $ 2,099,243 $ 164,500 $ 75,000 $ 336,000 $ 3,883,747 |
EQUITY
EQUITY | 6 Months Ended |
Sep. 30, 2021 | |
Equity [Abstract] | |
EQUITY | NOTE 6– EQUITY (A) PREFERRED STOCK Series A The Company has sold 4,200,000 0.80 On March 2, 2021, in preparation for an intended IPO, the Company made an offer to all its preferred shareholders to protect them against the possibility that the IPO price might be less than their preferred stock price. Accordingly, Series A-1 and Series A-2 Preferred Stock were created, and the holders of Series A Preferred Stock were granted an opportunity to purchase shares of Common Stock at $ 0.40 6,000 10 1,437,500 2,212,500 550,000 0.01 Series B There were also 6,000,000 0.01 10 On March 2, 2021, in preparation for an intended future IPO, the Company made an offer to all its preferred shareholders to protect them against the possibility that the IPO price might be less than their preferred stock price. Accordingly, Series B-1 and Series B-2 Preferred Stock (“Series B-1” and “Series B-2”, respectively) were created, and the holders of the Series B were granted an opportunity to purchase shares of Common Stock at $ 0.40 6,000 10 1,166,406 2,176,250 286,250 1,591,250 2,282,500 1,273,000 1,826,001 As of September 30, 2021, the Company authorized an additional 3,000,000 9,000,000 0.01 0.80 10 10 B) COMMON STOCK The Company has authorized 40,000,000 0.01 13,287,621 9,983,082 During the three and six months ended September 30, 2021, in connection with the amendment of Preferred Stock rights described in A above, the Company sold 3,285,789 1,314,317 1,191,442 During each of the three and six months ended September 30, 2021, the Company issued 18,750 618 C) STOCK OPTIONS In April 2018, the Board approved the introduction of the Kyto Technology and Life Science, Inc. Incentive Stock Option Plan (“the 2018 Plan”) reserving 2,697,085 In July 2019, the Board approved the introduction of the Kyto Technology and Life Science 2019 Stock Option and Incentive Plan (“2019 Plan”), and reserved 2 May 21, 2029 In December 2020, the Board approved the introduction of the Kyto Technology and Life Science 2020 Non Qualified Stock Option Plan (“2020 Plan”), and reserved 2 During the three months ended September 30, 2021, and September 30, 2020, the Company issued a total of 490,000 510,000 two years 740,000 630,000 SCHEDULE OF OPTIONS VESTED Number of options granted Weighted average exercise price Weighted average remaining life years Outstanding March 31, 2021 2,634,250 $ 0.05 8.13 Granted 740,000 0.07 9.42 Exercised (18,750 ) (0.03 ) - Cancelled - - - Outstanding September 30, 2021 3,355,500 $ 0.06 8.63 Exercisable September 30, 2021 2,085,041 $ 0.04 8.90 In connection with the grant of stock options the Company recognizes the value of the related option expense using the Black Scholes model, with appropriate assumptions for option life, stock value, risk free interest rate, volatility, and cancellations. SCHEDULE OF FAIR VALUE ASSUMPTIONS - STOCK OPTIONS September 30, 2021 March 31, 2021 Stock Price at grant date $ 0.07 $ 0.033 - $ 0.078 Exercise Price $ 0.07 $ 0.033 - $ 0.078 Term in Years 0 - 2.00 0 - 2.00 Volatility assumed 196 % 71 % - 196 % Annual dividend rate 0.0 % 0.0 % Risk free discount rate 0.12 % 0.12 % - 2.0 % The compensation expense calculated at time of grant is recognized over the vesting period for the options granted. During the three and six months ended September 30, 2021 the Company recognized $ 10,897 and $ 21,454 , respectively, as stock-based compensation expense. For the corresponding three and six months ended September 30, 2020, the Company recognized $ 12,805 and $ 13,851 , respectively. The intrinsic value of outstanding options at September 30, 2021 was $ 62,580 , and $ 56,987 of the option expense upon grant remained unrecognized at September 30, 2021 with a remaining vesting period of 1.44 years. D) WARRANTS In conjunction with the sale of Series A Stock Units, the Company issued 4,200,000 1.20 three years SCHEDULE OF WARRANTS Number of warrants Weighted average exercise price Weighted average remaining life in years Outstanding March 31, 2020 4,200,000 $ 1.20 2.9 Granted - - - Exercised (2,603,333 ) $ 1.20 - Cancelled - - - Outstanding September 30, 2020 1,596,667 $ 1.20 1.4 Exercisable March 31, 2020 4,200,000 $ 1.20 2.9 Exercisable September 30, 2020 1,596,667 $ 1.20 1.4 Number of warrants Weighted average exercise price Weighted average remaining life in years Outstanding March 31, 2021 1,596,667 $ 1.20 1.4 Granted - - Exercised - - Cancelled - - Outstanding September 30, 2021 1,596,667 $ 1.20 1.1 Exercisable March 31, 2021 1,596,667 $ 1.20 1.4 Exercisable September 30, 2021 1,596,667 $ 1.20 1.1 The Company values the warrants using the Black Scholes model, with appropriate assumptions for warrant life, stock value, risk free interest rate, and volatility. The assumptions used for warrant valuation were as follows: SCHEDULE OF FAIR VALUE ASSUMPTIONS - STOCK OPTIONS Stock Price at grant date $ 0.006 Exercise Price $ 1.200 Term in Years 3.00 Volatility assumed 73 % Annual dividend rate 0.0 % Risk free discount rate 1.79 % |
FINANCIAL HIGHLIGHTS
FINANCIAL HIGHLIGHTS | 6 Months Ended |
Sep. 30, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
FINANCIAL HIGHLIGHTS | NOTE 7 – FINANCIAL HIGHLIGHTS SCHEDULE OF FINANCIAL HIGHLIGHTS Per share data ( a) Three months ended Three months ended Six months ended Six months ended September 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020 Net asset value $ 0.82 $ 0.72 $ 0.82 $ 0.72 Net investment loss $ (0.03 ) $ (0.03 ) $ (0.06 ) $ (0.03 ) Net unrealized gain on investments $ 0.10 $ 0.05 $ 0.11 $ 0.08 Net increase in net assets $ 0.08 $ 0.05 $ 0.05 $ 0.05 Ratios and Supplemental Data Net assets, end of period $ 10,817,894 $ 4,230,731 $ 10,817,894 $ 4,230,731 Weighted average common shares outstanding, end of period 13,271,996 5,836,832 13,269,764 5,836,832 Total operating expenses/net assets 3.3 % 3.8 % 6.8 % 4.7 % Net investment loss/net assets 3.3 % 3.8 % 6.8 % 4.7 % Total return 9.2 % 7.5 % 6.1 % 6.6 % (a) Per share data is based on the weighted average number of common shares outstanding at the end of the period. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 6 Months Ended |
Sep. 30, 2021 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 8 - SUBSEQUENT EVENTS On October 5, 2021, the Company filed a Form 8-K announcing the Designation of 3,000,000 546,000 300,000 |
BASIS OF PRESENTATION AND SIG_2
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies) | 6 Months Ended |
Sep. 30, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
BASIS OF PRESENTATION | (A) BASIS OF PRESENTATION The accompanying unaudited condensed financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information with the instructions to Form 10-Q and Rule 8-03 of Regulation S-X. Accordingly, these unaudited condensed financial statements do not include all of the information and disclosures required by U.S. GAAP for complete financial statements. In the opinion of management, the accompanying unaudited condensed financial statements include all adjustments (consisting only of normal recurring adjustments), which the Company considers necessary, for a fair presentation of those financial statements. The results of operations and cash flows for the three months and six months ended September 30, 2021 may not necessarily be indicative of results that may be expected for any succeeding quarter or for the entire fiscal year. The condensed balance sheet as of March 31, 2021 was derived from the audited financial statements at that date, but does not include all the information and footnotes required by U.S. GAAP. The information contained in this Quarterly Report on Form 10-Q should be read in conjunction with the audited financial statements of the Company for the year ended March 31, 2021, included in the Annual Report on Form 10-K as filed with the Securities and Exchange Commission (the “SEC”) on August 10, 2021. The Company’s condensed interim financial statements are prepared in accordance with U.S. GAAP, which requires the use of estimates, assumptions and the exercise of subjective judgment as to future uncertainties. Actual results could differ from those estimates, assumptions, and judgments. Significant items subject to such estimates will include determining the fair value of investments, revenue recognition, income tax uncertainties, stock-based compensation, and other contingencies. The Company’s financial statements are prepared using the specialized accounting principles of ASC Topic 946. |
INVESTMENT TRANSACTIONS AND NET REALIZED AND UNREALIZED GAIN OR LOSS ON INVESTMENTS | (B) INVESTMENT TRANSACTIONS AND NET REALIZED AND UNREALIZED GAIN OR LOSS ON INVESTMENTS The Company generates increases or decreases in its net assets from the sale of complete or partial investments following a merger or acquisition (“M&A”) transaction or restructuring or from the revaluation of portfolio company investments to recognize changes in their fair value, either upwards or downwards. As a minority early-stage investor, the Company does not have the ability to manage the timing or acceptance of liquidity events that will realize its investments, nor the ability to predict when they may happen, although as a general guideline, it would expect such events to occur approximately four to five years after its investments are made. The Company records the realized gains and losses from investment activities upon completion of sale and receipt of net proceeds, after deducting related transaction expenses. Realized gains or losses on the sale of investments, or upon the determination that an investment balance, or portion thereof, is not recoverable, are calculated using the specific identification method. The Company measures realized gains or losses by calculating the difference between the net proceeds from the repayment or sale and the cost basis of the investment. Net change in unrealized appreciation or depreciation reflects the change in the fair values of the Company’s portfolio investments during the reporting period, including any reversal of previously recorded unrealized appreciation or depreciation when gains or losses are realized. The Company is in periodic contact with the management of its portfolio investment companies to provide a basis for valuation changes. The Company does not expect to receive interest and principal repayments on its convertible notes and generally expects these notes to convert into equity securities upon completion of qualified subsequent financings. Accrued interest is recorded as an adjustment to the fair value of the convertible notes. |
INCOME TAXES | (C) INCOME TAXES The Company accounts for income taxes under the Financial Accounting Standards Accounting Standard Codification Topic 740 “Accounting for Income Taxes” (“Topic 740” |
USE OF ESTIMATES | (D) USE OF ESTIMATES In preparing financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and revenues and expenses during the period presented. Actual results may differ from these estimates. Significant estimates during the three months and six months ended September 30, 2021 and September 30, 2020 include the valuation of the investment portfolio, deferred tax assets, tax valuation allowance, stock options and warrants. |
CASH AND CASH EQUIVALENTS | (E) CASH AND CASH EQUIVALENTS The Company considers all highly liquid investments with original maturities of three months or less at the time of purchase to be cash equivalents. There were no |
CONCENTRATIONS | (F) CONCENTRATIONS The Company maintains its cash in bank checking and deposit accounts, which, at times, may exceed federally insured limits. As of September 30, 2021, and March 31, 2021, the Company’s bank balance exceeded the federally insured limit by approximately $ 70,000 1.2 |
STOCK-BASED COMPENSATION | (G) STOCK-BASED COMPENSATION Financial Accounting Standards Board Accounting Standards Codification Topic 718, “Stock Compensation” 490,000 510,000 740,000 510,000 |
NET EARNINGS PER COMMON SHARE | (H) NET EARNINGS PER COMMON SHARE In accordance with Statement of Financial Accounting Standards Accounting Standard Codification Topic 260, “Earnings per Share” Weighted Average method Number of shares used in calculating fully- diluted earnings per common shares SCHEDULE OF EARNINGS PER SHARE Three months Six months Common Stock 13,271,996 13,269,764 Common stock subscribed not issued - - Series A preferred stock 4,200,000 4,200,000 Series B preferred stock 5,307,240 4,361,525 Options 2,962,792 2,835,262 Warrants 1,596,667 1,596,667 Total shares used in calculating fully-diluted earnings per common share 27,338,695 26,263,218 Three months Six months Common Stock issued 5,836,832 5,836,832 Series A preferred stock 4,200,000 4,200,000 Series B preferred stock 1,830,208 1,250,595 Options 1,920,000 1,571,429 Warrants 4,200,000 4,200,000 Total shares used in calculating fully-diluted earnings per common share 17,987,040 17,058,856 |
INVESTMENT AND VALUATION OF INVESTMENT AT FAIR VALUE | (I ) INVESTMENT AND VALUATION OF INVESTMENT AT FAIR VALUE The Company reviews the performance of its investments based on available information, including management reports, press releases, web site announcements and progress reports, third party equity updates, management interviews and, where accessible, financial reports, to determine their fair values. In the event that management considers the fair value of an investment to be greater or less than the current book value, the difference will be reflected as unrealized gains or losses in investments in the statements of operations. The Company adopted Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 820, “Fair Value Measurements and Disclosures”, Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. Fair value is an exchange price notion under which fair value is the price in an orderly transaction between market participants to sell an asset or transfer a liability in the market in which the reporting entity would transact for the asset or liability. The Company has established procedures to estimate the fair value of its investments which the Company’s board of directors has reviewed and approved. The Company uses observable market data to estimate the fair value of investments to the extent that market data is available. In the absence of quoted market prices in active markets, or quoted market prices for similar assets or in markets that are not active, the Company uses the valuation methodologies described below with unobservable data based on the best available information in the circumstances, which incorporates the Company’s assumptions about the factors that a market participant would use to value the asset. For investments for which quoted market prices are not available, which comprise most of our investment portfolio, fair value is estimated by using the income, market, or back-solve approach. The income approach is based on the assumption that value is created by the expectation of future benefits discounted to a current value and the fair value estimate is the amount an investor would be willing to pay to receive those future benefits. The market approach compares recent comparable transactions to the investment. The back solve method involves comparing available data over a period of time and inferring a new valuation based on changes from a known starting point, for example the cost of an investment. Adjustments are made for any dissimilarity between the comparable transactions and the investments. These valuation methodologies involve a significant degree of judgment on the part of our management and board. In determining the appropriate fair value of an investment using these approaches, the most significant information and assumptions may include, as applicable: available current market data, including relevant and applicable comparable market transactions, applicable market yields and multiples, security covenants, call protection provisions, information rights, the nature and realizable value of any collateral, the investment’s ability to make payments, its earnings and discounted cash flows, the markets in which the company does business, comparisons of financial ratios of peer companies that are public, merger and acquisition comparables, the principal market and enterprise values, environmental factors, subsequent financings by the portfolio investment, among other factors. The estimated fair values do not necessarily represent the amounts that may be ultimately realized due to the occurrence or nonoccurrence of future circumstances that cannot be reasonably determined. Because of the inherent uncertainty of the valuation of the investments, the estimate of fair values may differ significantly from the value that would have been used had a broader market for the investments existed. The authoritative accounting guidance prioritizes the use of market-based inputs over entity-specific inputs and establishes a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation. The three levels of valuation hierarchy are defined as follows: Level 1: Observable inputs such as quoted market prices in active markets for identical assets or liabilities Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data Level 3: Unobservable inputs for which there is little or no market data, which require the use of the reporting entity’s own assumptions. Most of the Company’s investments are Level 3. Critical accounting policies and practices are the policies that are both most important to the portrayal of the Company’s financial condition and results, and require management’s most difficult, subjective, or complex judgments, often as a result of the need to make estimates about matters that are inherently uncertain. These include estimates of the fair value of Level 3 investments and other estimates that affect the reported amounts of assets and liabilities as of the date of the consolidated financial statements and the reported amounts of certain revenues and expenses during the reporting period. It is likely that changes in these estimates will occur in the near term. The Company’s estimates are inherently subjective in nature and actual results could differ materially from such estimates. See “Note 1 – Significant Accounting Policies” to our financial statements as of March 31, 2021, as filed with the SEC on August 10, 2021, for further detail regarding our critical accounting policies and recently issued or adopted accounting pronouncements. |
RECENT ACCOUNTING PRONOUNCEMENTS | (J) RECENT ACCOUNTING PRONOUNCEMENTS Management does not believe that any recently issued, but not yet effective, accounting standards if currently adopted would have a material effect on the accompanying financial statements. |
OTHER CURRENT ASSETS | (K) OTHER CURRENT ASSETS Other current assets principally include deferred offering costs. Since April 2019, the Company has conducted a series of sales of common and preferred stock to fund its ongoing investment program and cost of operations. Typically, it expects that raising capital through the sale of any series of securities, from start to finish, may take from six to nine months and in order to match the cost and benefits of this process, the Company adopted a policy of capitalizing direct expenses incurred in the course of raising capital, with the intention of netting accumulated expenses against proceeds from sale of equity, and reporting the net funds raised at the close. Direct expenses include legal fees, investor relations fees, investor roadshows and meeting expenses, and related filing and printing fees. At September 30, 2021 and March 31, 2021, the Company had deferred $ 230,434 169,891 |
BASIS OF PRESENTATION AND SIG_3
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables) | 6 Months Ended |
Sep. 30, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
SCHEDULE OF EARNINGS PER SHARE | Number of shares used in calculating fully- diluted earnings per common shares SCHEDULE OF EARNINGS PER SHARE Three months Six months Common Stock 13,271,996 13,269,764 Common stock subscribed not issued - - Series A preferred stock 4,200,000 4,200,000 Series B preferred stock 5,307,240 4,361,525 Options 2,962,792 2,835,262 Warrants 1,596,667 1,596,667 Total shares used in calculating fully-diluted earnings per common share 27,338,695 26,263,218 Three months Six months Common Stock issued 5,836,832 5,836,832 Series A preferred stock 4,200,000 4,200,000 Series B preferred stock 1,830,208 1,250,595 Options 1,920,000 1,571,429 Warrants 4,200,000 4,200,000 Total shares used in calculating fully-diluted earnings per common share 17,987,040 17,058,856 |
INVESTMENTS (Tables)
INVESTMENTS (Tables) | 6 Months Ended |
Sep. 30, 2021 | |
Investments, All Other Investments [Abstract] | |
SUMMARY OF INVESTMENT PORTFOLIO | The following table summarizes the Company’s investment portfolio at September 30, 2021 and March 31, 2021. SUMMARY OF INVESTMENT PORTFOLIO September 30, 2021 March 31, 2021 Number of portfolio companies 66 51 Fair value $ 10,442,813 $ 6,821,407 Cost 7,904,636 5,686,545 % of portfolio at fair value Convertible notes 3,801,833 36.4 % 2,553,954 37.4 % Preferrred stock 4,538,653 43.5 % 3,129,458 45.9 % Common stock 956,327 9.2 % 391,995 5.7 % SAFE 575,000 5.5 % 325,000 4.8 % Other ownership units 571,000 5.5 % 421,000 6.2 % Total $ 10,442,813 100 % $ 6,821,407 100 % |
SCHEDULE OF INVESTMENTS | The following table summarizes the valuation techniques and significant unobservable inputs used for investments that are categorized within Level 3 of the fair value hierarchy as of September 30, 2021 and March 31, 2021: SCHEDULE OF INVESTMENTS As of September 30, 2021 Fair Value Valuation Approach/ Technique Unobservable Inputs Range/ Weighted Average Convertible notes: Basepaws Inc $ 201,663 Market approach based on indicative term sheet and last round of financing As if converted note and Series A term sheet of $37.5 million 50:50 weight Convertible notes: Promaxo Inc 183,876 Market approach based on available comparables and financial performance Conversion prospects, market yield, remaining maturity 5 Convertible notes: Other 3,416,294 Market approach based on available comparables and financial performance Conversion prospects, market yield, remaining maturity 1 12 Preferred stock in private companies” Shyft Moving Inc 269,820 Market approach based on indicative term sheet and last round of financing 50/50 weighting to prior A-3 preferred and indicated pre Series B price. Forecast revenue from investor deck and 75% percentile for public company peer valuation ratios Based on Series B valuation of $ 80 Preferred stock in private companies: Seal Rock Therapeutics Inc 199,112 Market approach based on indicative term sheet and last round of financing 50/50 weighting to prior Series seed preferred and indicated Note price. 75% percentile for public company peer valuation ratios Based on new Note indication of $ 80 Preferred stock in private companies: Femto DX Inc 290,046 Market approach based on indicative term sheet and last round of financing 50/50 weighting to prior Series B-2 preferred price and public market. 75% percentile for public company peer valuation ratios Based on Series B valuation of $ 170 Preferred stock in private companies: Promaxo Inc 1,034,984 Market approach based on available comparables and financial performance a) Last round of financing for series B-2 price, 118% change in enterprise value 75th percentile b) revenue multiples 2021 13.3X 2022 9.3x 0 168.3 Preferred stock in private companies: Other 2,744,691 Market approach based on available comparables and financial performance Market approach based on available information from portfolio companies Various Common stock in private companies 325,000 Market approach based on available comparables and financial performance Historic or projected revenue and/or EBITDA multiples discounted for lack of marketability Various SAFE 575,000 Market approach based on available comparables and financial performance Precedent and follow-on transactions adjusted for marketability Various Other investments 571,000 Market approach based on available comparables and financial performance Precedent and follow-on transactions adjusted for marketability Various Total Investments $ 9,811,486 As of March 31, 2021 Fair Value Valuation Approach/ Technique Unobservable Inputs Range/ Weighted Average Convertible notes: Kitotech Medical Inc $ 326,871 Market approach based on available comparables and financial performance Market cap of $ 28.51 Range : $ 28.514 Convertible notes 2,227,083 Market approach based on available comparables and financial performance Conversion prospects, market yield, remaining maturity 1 12 Preferred stock in private companies: Femto DX Inc 159,835 Market approach based on available comparables and financial performance Based on Series B financing and public company peer multiples using 50:50 percentile Market value of invested capital $ 58.66 Preferred stock in private companies: Neuroflow Inc 437,495 Market approach based on available comparables and financial performance Based on Series Seed 2 and last round of financing - Series B Market value of invested capital $ 57.98 Preferred stock in private companies: other 2,532,128 Market approach based on available comparables and financial performance Market approach based on available information from portfolio companies Various Common stock in private companies 300,000 Market approach based on available comparables and financial performance Historic or projected revenue and/or EBITDA multiples Various SAFE 325,000 Market approach based on available comparables and financial performance Precedent and follow-on transactions adjusted for marketability Various Other investments 421,000 Market approach based on available comparables and financial performance Precedent and follow-on transactions adjusted for marketability Various Total Investments $ 6,729,412 |
SCHEDULE OF INVESTMENTS AT FAIR VALUE MEASUREMENTS OF INVESTMENTS | The following table presents fair value measurements of investments, by major class, as of September 30, 2021, and March 31, 2021, according to the fair value hierarchy: SCHEDULE OF INVESTMENTS AT FAIR VALUE MEASUREMENTS OF INVESTMENTS As of September 30, 2021 Quoted prices in active markets for identical securities Significant other observable inputs Significant unobservable inputs Description (Level 1) (Level 2) (Level 3) Total Investments at Fair Value Private Portfolio Companies Convertible notes $ - $ $ 3,801,833 $ 3,801,833 Preferred stock - - 4,538,653 4,538,653 Common stock - - 325,000 325,000 SAFEs - - 575,000 575,000 Other ownership interests - - 571,000 571,000 - - 9,811,486 9,811,486 Public Portfolio Companies Common stock 631,327 - - 631,327 Total Investments at Fair value $ 631,327 $ - $ 9,811,486 $ 10,442,813 As of March 31, 2021 Description Level 1 Level 2 Level 3 Total March 31, 2021 Investments at Fair Value Private Portfolio Companies Convertible notes $ - $ - $ 2,553,954 $ 2,553,954 Preferred stock - - 3,129,458 3,129,458 Common stock - - 300,000 300,000 SAFEs - - 325,000 325,000 Other ownership interests - - 421,000 421,000 - - 6,729,412 6,729,412 Public Portfolio Companies Common stock 91,995 - - 91,995 Total Investments at Fair value $ 91,995 $ - $ 6,729,412 $ 6,821,407 |
SCHEDULE OF INVESTMENTS IN UNREALIZED GAIN OR LOSSES FOREIGN EXCHANGE RATES ON SECURITIES | SCHEDULE OF INVESTMENTS IN UNREALIZED GAIN OR LOSSES FOREIGN EXCHANGE RATES ON SECURITIES America Canada Rest of World Total Fair value beginning of year March 31, 2021 $ 5,486,011 $ 907,560 $ 427,836 $ 6,821,407 New investments 1,668,091 200,000 350,000 2,218,091 Proceeds from sale of investments - - - - Realized gains - - - - Net change in unrealized gains included in condensed Statements of Operations 1,360,028 29,556 13,731 1,403,315 Fair value end of six months September 30, 2021 $ 8,514,130 $ 1,137,116 $ 791,567 $ 10,442,813 Changes in unrealized gains or losses for the period included in Condensed Statement of Operations for assets held at the end of the reporting period. $ 1,403,315 America Canada Rest of World Total Fair value beginning of year March 31, 2020 $ 2,170,499 $ 245,000 $ 250,000 $ 2,665,499 New investments 540,000 150,000 50,000 740,000 Proceeds from sale of investments - - - - Realized gains - - - - Net change in unrealized gains included in condensed Statements of Operations 438,953 21,947 17,348 478,248 Fair value end of six months September 30, 2020 $ 3,149,452 $ 416,947 $ 317,348 $ 3,883,747 Changes in unrealized gains or losses for the period included in Condensed Statement of Operations for assets held at the end of the reporting period. $ 478,248 Working on the experience of our technical advisors, we limit our investments to fintech, technology, and life sciences. Fintech Technology Life science Total Fair value beginning of year March 31, 2021 $ 126,030 $ 1,394,318 $ 5,301,059 $ 6,821,407 New investments - 590,600 1,627,491 2,218,091 Proceeds from sale of investments - - - - Realized gains - - - - Net change in unrealized gains included in condensed Statements of Operations - 45,531 1,357,784 1,403,315 Fair value end of six months September 30, 2021 $ 126,030 $ 2,030,449 $ 8,286,334 $ 10,442,813 Changes in unrealized gains or losses for the period included in Condensed Statement of Operations for assets held at the end of the reporting period. $ 1,403,315 Fintech Technology Life science Total Fair value beginning of year March 31, 2020 $ 101,500 $ 685,002 $ 1,878,997 $ 2,665,499 New investments - - 740,000 740,000 Proceeds from sale of investments - - - - Realized gains - - - - Net change in unrealized gains included in condensed Statements of Operations 24,530 37,769 415,949 478,248 Fair value end of six months September 30, 2020 $ 126,030 $ 722,771 $ 3,034,946 $ 3,883,747 Changes in unrealized gains or losses for the period included in Condensed Statement of Operations for assets held at the end of the reporting period. $ 478,248 |
SCHEDULE OF ADJUSTMENT IN FAIR VALUE TO REFLECT IMPAIRMENT OF INVESTMENT | SCHEDULE OF ADJUSTMENT IN FAIR VALUE TO REFLECT IMPAIRMENT OF INVESTMENT Convertible notes Preferred stock Common stock SAFEs Other ownership interests Total Fair value March 31, 2021 $ 2,553,954 $ 3,129,458 $ 391,995 $ 325,000 $ 421,000 $ 6,821,407 Conversions into preferred stock - - - - - - New investments 1,027,491 600,000 190,600 250,000 150,000 2,218,091 Proceeds from sale of investments - - - - - - Realized gains - - - - - - Unrealized gains included in condensed Statements of Operations 220,388 809,195 373,732 - - 1,403,315 Fair value September 30, 2021 $ 3,801,833 $ 4,538,653 $ 956,327 $ 575,000 $ 571,000 $ 10,442,813 Convertible notes Preferred stock Common stock SAFEs Other ownership interests Total Fair value March 31, 2020 $ 1,528,002 $ 701,497 $ 126,500 $ 73,500 $ 236,000 $ 2,665,499 Conversions into preferred stock (597,984 ) 678,313 - (80,329 ) - - New investments 100,000 440,000 100,000 - 100,000 740,000 Proceeds from sale of investments - - - - - - Realized gains - - - - - - Unrealized gains included in condensed Statements of Operations 178,986 279,433 (62,000 ) 81,829 - 478,248 Fair value September 30, 2020 $ 1,209,004 $ 2,099,243 $ 164,500 $ 75,000 $ 336,000 $ 3,883,747 |
EQUITY (Tables)
EQUITY (Tables) | 6 Months Ended |
Sep. 30, 2021 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |
SCHEDULE OF OPTIONS VESTED | SCHEDULE OF OPTIONS VESTED Number of options granted Weighted average exercise price Weighted average remaining life years Outstanding March 31, 2021 2,634,250 $ 0.05 8.13 Granted 740,000 0.07 9.42 Exercised (18,750 ) (0.03 ) - Cancelled - - - Outstanding September 30, 2021 3,355,500 $ 0.06 8.63 Exercisable September 30, 2021 2,085,041 $ 0.04 8.90 |
SCHEDULE OF FAIR VALUE ASSUMPTIONS - STOCK OPTIONS | In connection with the grant of stock options the Company recognizes the value of the related option expense using the Black Scholes model, with appropriate assumptions for option life, stock value, risk free interest rate, volatility, and cancellations. SCHEDULE OF FAIR VALUE ASSUMPTIONS - STOCK OPTIONS September 30, 2021 March 31, 2021 Stock Price at grant date $ 0.07 $ 0.033 - $ 0.078 Exercise Price $ 0.07 $ 0.033 - $ 0.078 Term in Years 0 - 2.00 0 - 2.00 Volatility assumed 196 % 71 % - 196 % Annual dividend rate 0.0 % 0.0 % Risk free discount rate 0.12 % 0.12 % - 2.0 % |
SCHEDULE OF WARRANTS | SCHEDULE OF WARRANTS Number of warrants Weighted average exercise price Weighted average remaining life in years Outstanding March 31, 2020 4,200,000 $ 1.20 2.9 Granted - - - Exercised (2,603,333 ) $ 1.20 - Cancelled - - - Outstanding September 30, 2020 1,596,667 $ 1.20 1.4 Exercisable March 31, 2020 4,200,000 $ 1.20 2.9 Exercisable September 30, 2020 1,596,667 $ 1.20 1.4 Number of warrants Weighted average exercise price Weighted average remaining life in years Outstanding March 31, 2021 1,596,667 $ 1.20 1.4 Granted - - Exercised - - Cancelled - - Outstanding September 30, 2021 1,596,667 $ 1.20 1.1 Exercisable March 31, 2021 1,596,667 $ 1.20 1.4 Exercisable September 30, 2021 1,596,667 $ 1.20 1.1 |
Warrant [Member] | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |
SCHEDULE OF FAIR VALUE ASSUMPTIONS - STOCK OPTIONS | SCHEDULE OF FAIR VALUE ASSUMPTIONS - STOCK OPTIONS Stock Price at grant date $ 0.006 Exercise Price $ 1.200 Term in Years 3.00 Volatility assumed 73 % Annual dividend rate 0.0 % Risk free discount rate 1.79 % |
FINANCIAL HIGHLIGHTS (Tables)
FINANCIAL HIGHLIGHTS (Tables) | 6 Months Ended |
Sep. 30, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
SCHEDULE OF FINANCIAL HIGHLIGHTS | SCHEDULE OF FINANCIAL HIGHLIGHTS Per share data ( a) Three months ended Three months ended Six months ended Six months ended September 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020 Net asset value $ 0.82 $ 0.72 $ 0.82 $ 0.72 Net investment loss $ (0.03 ) $ (0.03 ) $ (0.06 ) $ (0.03 ) Net unrealized gain on investments $ 0.10 $ 0.05 $ 0.11 $ 0.08 Net increase in net assets $ 0.08 $ 0.05 $ 0.05 $ 0.05 Ratios and Supplemental Data Net assets, end of period $ 10,817,894 $ 4,230,731 $ 10,817,894 $ 4,230,731 Weighted average common shares outstanding, end of period 13,271,996 5,836,832 13,269,764 5,836,832 Total operating expenses/net assets 3.3 % 3.8 % 6.8 % 4.7 % Net investment loss/net assets 3.3 % 3.8 % 6.8 % 4.7 % Total return 9.2 % 7.5 % 6.1 % 6.6 % (a) Per share data is based on the weighted average number of common shares outstanding at the end of the period. |
DESCRIPTION OF BUSINESS (Detail
DESCRIPTION OF BUSINESS (Details Narrative) - USD ($) | Jan. 02, 2021 | May 31, 2021 | Sep. 30, 2021 | Sep. 30, 2021 | Sep. 30, 2020 | Oct. 01, 2021 | Mar. 31, 2021 | Mar. 31, 2018 |
Accumulated deficit | $ (32,294,845) | $ (32,294,845) | $ (32,957,186) | $ 32,380,746 | ||||
Ownership percentage | 5.00% | 5.00% | ||||||
Cash | $ 316,124 | $ 316,124 | $ 485,000 | $ 1,437,868 | ||||
Chief Executive Officer [Member] | ||||||||
Officers compensation | $ 400,000 | |||||||
Percentage of salary | 60.00% | 75.00% | ||||||
Payments to employees | 90,000 | 170,000 | ||||||
Consulting fees | $ 0 | |||||||
Share based payment award options received bonus | $ 50,000 | |||||||
Share-based payment award, options, grants forfeitures | 215,000 | |||||||
Maximum [Member] | ||||||||
Investment by company | $ 250,000 | $ 250,000 |
SCHEDULE OF EARNINGS PER SHARE
SCHEDULE OF EARNINGS PER SHARE (Details) - shares | 3 Months Ended | 6 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Total shares used in calculating fully-diluted earnings per common share | 27,338,695 | 17,987,040 | 26,263,218 | 17,058,856 |
Common Stock Issued [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Total shares used in calculating fully-diluted earnings per common share | 13,271,996 | 5,836,832 | 13,269,764 | 5,836,832 |
Common Stock Subscribed Not Issued [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Total shares used in calculating fully-diluted earnings per common share | ||||
Series A Preferred Stock [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Total shares used in calculating fully-diluted earnings per common share | 4,200,000 | 4,200,000 | 4,200,000 | 4,200,000 |
Series B Preferred Stock [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Total shares used in calculating fully-diluted earnings per common share | 5,307,240 | 1,830,208 | 4,361,525 | 1,250,595 |
Share-based Payment Arrangement, Option [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Total shares used in calculating fully-diluted earnings per common share | 2,962,792 | 1,920,000 | 2,835,262 | 1,571,429 |
Warrant [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Total shares used in calculating fully-diluted earnings per common share | 1,596,667 | 4,200,000 | 1,596,667 | 4,200,000 |
BASIS OF PRESENTATION AND SIG_4
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Mar. 31, 2021 | |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |||||
Cash equivalents | $ 0 | $ 0 | $ 0 | ||
Cash balance exceeds FDIC insured amount | 70,000 | 70,000 | 1,200,000 | ||
Deferred offering cost | $ 230,434 | $ 230,434 | $ 169,891 | ||
Consultants And Advisors [Member] | |||||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |||||
Number of options granted | 490,000 | 510,000 | 740,000 | 510,000 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | Sep. 30, 2021 | Mar. 31, 2021 |
Related Party Transactions [Abstract] | ||
Related party accrued and owed | $ 87,000 | $ 51,420 |
SUMMARY OF INVESTMENT PORTFOLIO
SUMMARY OF INVESTMENT PORTFOLIO (Details) | Sep. 30, 2021USD ($)Integer | Mar. 31, 2021USD ($)Integer | Sep. 30, 2020USD ($) | Mar. 31, 2020USD ($) |
Net Investment Income [Line Items] | ||||
Number of portfolio companies | Integer | 66 | 51 | ||
Investment Owned, at Fair Value | $ 10,442,813 | $ 6,821,407 | $ 3,883,747 | $ 2,665,499 |
Investment Owned, at Cost | $ 7,904,636 | $ 5,686,545 | ||
Percentage of investment portfolio | 100.00% | 100.00% | ||
Convertible Debt Securities [Member] | ||||
Net Investment Income [Line Items] | ||||
Investment Owned, at Fair Value | $ 3,801,833 | $ 2,553,954 | 1,209,004 | 1,528,002 |
Investment Owned, at Cost | $ 3,243,539 | $ 2,216,048 | ||
Percentage of investment portfolio | 36.40% | 37.40% | ||
Preferred Stock [Member] | ||||
Net Investment Income [Line Items] | ||||
Investment Owned, at Fair Value | $ 4,538,653 | $ 3,129,458 | 2,099,243 | 701,497 |
Percentage of investment portfolio | 43.50% | 45.90% | ||
Common Stock [Member] | ||||
Net Investment Income [Line Items] | ||||
Investment Owned, at Fair Value | $ 956,327 | $ 391,995 | 164,500 | 126,500 |
Percentage of investment portfolio | 9.20% | 5.70% | ||
SAFE [Member] | ||||
Net Investment Income [Line Items] | ||||
Investment Owned, at Fair Value | $ 575,000 | $ 325,000 | 75,000 | 73,500 |
Percentage of investment portfolio | 5.50% | 4.80% | ||
Other Ownership Units [Member] | ||||
Net Investment Income [Line Items] | ||||
Investment Owned, at Fair Value | $ 571,000 | $ 421,000 | $ 336,000 | $ 236,000 |
Percentage of investment portfolio | 5.50% | 6.20% |
SCHEDULE OF INVESTMENTS (Detail
SCHEDULE OF INVESTMENTS (Details) | 3 Months Ended | 12 Months Ended | ||
Sep. 30, 2021USD ($) | Mar. 31, 2021USD ($) | Sep. 30, 2020USD ($) | Mar. 31, 2020USD ($) | |
Investment Owned, at Fair Value | $ 10,442,813 | $ 6,821,407 | $ 3,883,747 | $ 2,665,499 |
Convertible Debt Securities [Member] | ||||
Investment Owned, at Fair Value | 3,801,833 | 2,553,954 | 1,209,004 | 1,528,002 |
Common Stock In Private Companies [Member] | ||||
Investment Owned, at Fair Value | 325,000 | 300,000 | ||
SAFE [Member] | ||||
Investment Owned, at Fair Value | 575,000 | 325,000 | $ 75,000 | $ 73,500 |
Other Investments [Member] | ||||
Investment Owned, at Fair Value | 571,000 | 421,000 | ||
Investment Fair Value [Member] | ||||
Investment Owned, at Fair Value | 9,811,486 | 6,729,412 | ||
Investment Fair Value [Member] | Convertible Debt Securities [Member] | ||||
Investment Owned, at Fair Value | $ 2,227,083 | |||
Valuation Approach/ Technique | Market approach based on available comparables and financial performance | |||
Unobservable Inputs | Conversion prospects, market yield, remaining maturity | |||
Investment Fair Value [Member] | Convertible Debt Securities [Member] | Basepaws Inc [Member] | ||||
Investment Owned, at Fair Value | $ 201,663 | |||
Valuation Approach/ Technique | Market approach based on indicative term sheet and last round of financing | |||
Unobservable Inputs | As if converted note and Series A term sheet of $37.5 million | |||
Range/ Weighted Average | 50:50 weight | |||
Investment Fair Value [Member] | Convertible Debt Securities [Member] | Promaxo Inc [Member] | ||||
Investment Owned, at Fair Value | $ 183,876 | |||
Valuation Approach/ Technique | Market approach based on available comparables and financial performance | |||
Unobservable Inputs | Conversion prospects, market yield, remaining maturity | |||
Investment Fair Value [Member] | Convertible Debt Securities [Member] | Promaxo Inc [Member] | Weighted Average [Member] | ||||
Debt Instrument, Measurement Input | 5 | |||
Investment Fair Value [Member] | Convertible Debt Securities [Member] | Kitotech Medical Inc [Member] | ||||
Investment Owned, at Fair Value | $ 326,871 | |||
Valuation Approach/ Technique | Market approach based on available comparables and financial performance | |||
Unobservable Inputs | Market cap of $ | |||
Range/ Weighted Average | Range : $28.514 million | |||
Debt instrument fair value | $ 28,514,000 | |||
Investment Fair Value [Member] | Convertible Debt Securities Other [Member] | ||||
Investment Owned, at Fair Value | $ 3,416,294 | |||
Valuation Approach/ Technique | Market approach based on available comparables and financial performance | |||
Unobservable Inputs | Conversion prospects, market yield, remaining maturity | |||
Investment Fair Value [Member] | Convertible Debt Securities Other [Member] | Minimum [Member] | ||||
Debt Instrument, Measurement Input | 1 | 1 | ||
Investment Fair Value [Member] | Convertible Debt Securities Other [Member] | Maximum [Member] | ||||
Debt Instrument, Measurement Input | 12 | 12 | ||
Investment Fair Value [Member] | Preferred Stock In Private Companies [Member] | Promaxo Inc [Member] | ||||
Investment Owned, at Fair Value | $ 1,034,984 | |||
Valuation Approach/ Technique | Market approach based on available comparables and financial performance | |||
Unobservable Inputs | a) Last round of financing for series B-2 price, 118% change in enterprise value @75th percentile b) revenue multiples 2021 13.3X 2022 9.3x | |||
Range/ Weighted Average | 0%-168.3% 0.6x - 27.7x 0.5x - 59.4x | |||
Investment Fair Value [Member] | Preferred Stock In Private Companies [Member] | Promaxo Inc [Member] | Minimum [Member] | ||||
Debt Instrument, Measurement Input | 0 | |||
Investment Fair Value [Member] | Preferred Stock In Private Companies [Member] | Promaxo Inc [Member] | Maximum [Member] | ||||
Debt Instrument, Measurement Input | 168.3 | |||
Investment Fair Value [Member] | Preferred Stock In Private Companies [Member] | Shyft Moving Inc [Member] | ||||
Investment Owned, at Fair Value | $ 269,820 | |||
Valuation Approach/ Technique | Market approach based on indicative term sheet and last round of financing | |||
Unobservable Inputs | 50/50 weighting to prior A-3 preferred and indicated pre Series B price. Forecast revenue from investor deck and 75% percentile for public company peer valuation ratios | |||
Range/ Weighted Average | Based on Series B valuation of $80 million | |||
Debt instrument fair value | $ 80,000,000 | |||
Investment Fair Value [Member] | Preferred Stock In Private Companies [Member] | Seal Rock Therapeutics Inc [Member] | ||||
Investment Owned, at Fair Value | $ 199,112 | |||
Valuation Approach/ Technique | Market approach based on indicative term sheet and last round of financing | |||
Unobservable Inputs | 50/50 weighting to prior Series seed preferred and indicated Note price. 75% percentile for public company peer valuation ratios | |||
Range/ Weighted Average | Based on new Note indication of $80 million | |||
Debt instrument fair value | $ 80,000,000 | |||
Investment Fair Value [Member] | Preferred Stock In Private Companies [Member] | Femto DX Inc [Member] | ||||
Investment Owned, at Fair Value | $ 290,046 | $ 159,835 | ||
Valuation Approach/ Technique | Market approach based on indicative term sheet and last round of financing | Market approach based on available comparables and financial performance | ||
Unobservable Inputs | 50/50 weighting to prior Series B-2 preferred price and public market. 75% percentile for public company peer valuation ratios | Based on Series B financing and public company peer multiples using 50:50 percentile | ||
Range/ Weighted Average | Based on Series B valuation of $170 million | Market value of invested capital $58.66 million | ||
Debt instrument fair value | $ 170,000,000 | $ 58,660,000 | ||
Investment Fair Value [Member] | Preferred Stock In Private Companies [Member] | Neuroflow Inc [Member] | ||||
Investment Owned, at Fair Value | $ 437,495 | |||
Valuation Approach/ Technique | Market approach based on available comparables and financial performance | |||
Unobservable Inputs | Based on Series Seed 2 and last round of financing - Series B | |||
Range/ Weighted Average | Market value of invested capital $57.98 million | |||
Debt instrument fair value | $ 57,980,000 | |||
Investment Fair Value [Member] | Preferred Stock In Private Companies Other [Member] | ||||
Investment Owned, at Fair Value | $ 2,744,691 | $ 2,532,128 | ||
Valuation Approach/ Technique | Market approach based on available comparables and financial performance | Market approach based on available comparables and financial performance | ||
Unobservable Inputs | Market approach based on available information from portfolio companies | Market approach based on available information from portfolio companies | ||
Range/ Weighted Average | Various | Various | ||
Investment Fair Value [Member] | Common Stock In Private Companies [Member] | ||||
Investment Owned, at Fair Value | $ 325,000 | $ 300,000 | ||
Valuation Approach/ Technique | Market approach based on available comparables and financial performance | Market approach based on available comparables and financial performance | ||
Unobservable Inputs | Historic or projected revenue and/or EBITDA multiples discounted for lack of marketability | Historic or projected revenue and/or EBITDA multiples | ||
Range/ Weighted Average | Various | Various | ||
Investment Fair Value [Member] | SAFE [Member] | ||||
Investment Owned, at Fair Value | $ 575,000 | $ 325,000 | ||
Valuation Approach/ Technique | Market approach based on available comparables and financial performance | Market approach based on available comparables and financial performance | ||
Unobservable Inputs | Precedent and follow-on transactions adjusted for marketability | Precedent and follow-on transactions adjusted for marketability | ||
Range/ Weighted Average | Various | Various | ||
Investment Fair Value [Member] | Other Investments [Member] | ||||
Investment Owned, at Fair Value | $ 571,000 | $ 421,000 | ||
Valuation Approach/ Technique | Market approach based on available comparables and financial performance | Market approach based on available comparables and financial performance | ||
Unobservable Inputs | Precedent and follow-on transactions adjusted for marketability | Precedent and follow-on transactions adjusted for marketability | ||
Range/ Weighted Average | Various | Various |
SCHEDULE OF INVESTMENTS AT FAIR
SCHEDULE OF INVESTMENTS AT FAIR VALUE MEASUREMENTS OF INVESTMENTS (Details) - USD ($) | Sep. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2020 | Mar. 31, 2020 |
Defined Benefit Plan Disclosure [Line Items] | ||||
Investments at fair value (cost of $7,904,636 and $5,686,545, respectively) | $ 10,442,813 | $ 6,821,407 | $ 3,883,747 | $ 2,665,499 |
Convertible Debt Securities [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Investments at fair value (cost of $7,904,636 and $5,686,545, respectively) | 3,801,833 | 2,553,954 | 1,209,004 | 1,528,002 |
Preferred Stock [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Investments at fair value (cost of $7,904,636 and $5,686,545, respectively) | 4,538,653 | 3,129,458 | 2,099,243 | 701,497 |
Common Stock In Private Companies [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Investments at fair value (cost of $7,904,636 and $5,686,545, respectively) | 325,000 | 300,000 | ||
SAFE [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Investments at fair value (cost of $7,904,636 and $5,686,545, respectively) | 575,000 | 325,000 | $ 75,000 | $ 73,500 |
Other Investments [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Investments at fair value (cost of $7,904,636 and $5,686,545, respectively) | 571,000 | 421,000 | ||
Private Portfolio Companies [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Investments at fair value (cost of $7,904,636 and $5,686,545, respectively) | 9,811,486 | 6,729,412 | ||
Common Stock In Public Companies [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Investments at fair value (cost of $7,904,636 and $5,686,545, respectively) | 631,327 | 91,995 | ||
Fair Value, Inputs, Level 1 [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Investments at fair value (cost of $7,904,636 and $5,686,545, respectively) | 631,327 | 91,995 | ||
Fair Value, Inputs, Level 1 [Member] | Convertible Debt Securities [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Investments at fair value (cost of $7,904,636 and $5,686,545, respectively) | ||||
Fair Value, Inputs, Level 1 [Member] | Preferred Stock [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Investments at fair value (cost of $7,904,636 and $5,686,545, respectively) | ||||
Fair Value, Inputs, Level 1 [Member] | Common Stock In Private Companies [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Investments at fair value (cost of $7,904,636 and $5,686,545, respectively) | ||||
Fair Value, Inputs, Level 1 [Member] | SAFE [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Investments at fair value (cost of $7,904,636 and $5,686,545, respectively) | ||||
Fair Value, Inputs, Level 1 [Member] | Other Investments [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Investments at fair value (cost of $7,904,636 and $5,686,545, respectively) | ||||
Fair Value, Inputs, Level 1 [Member] | Private Portfolio Companies [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Investments at fair value (cost of $7,904,636 and $5,686,545, respectively) | ||||
Fair Value, Inputs, Level 1 [Member] | Common Stock In Public Companies [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Investments at fair value (cost of $7,904,636 and $5,686,545, respectively) | 631,327 | 91,995 | ||
Fair Value, Inputs, Level 2 [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Investments at fair value (cost of $7,904,636 and $5,686,545, respectively) | ||||
Fair Value, Inputs, Level 2 [Member] | Convertible Debt Securities [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Investments at fair value (cost of $7,904,636 and $5,686,545, respectively) | ||||
Fair Value, Inputs, Level 2 [Member] | Preferred Stock [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Investments at fair value (cost of $7,904,636 and $5,686,545, respectively) | ||||
Fair Value, Inputs, Level 2 [Member] | Common Stock In Private Companies [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Investments at fair value (cost of $7,904,636 and $5,686,545, respectively) | ||||
Fair Value, Inputs, Level 2 [Member] | SAFE [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Investments at fair value (cost of $7,904,636 and $5,686,545, respectively) | ||||
Fair Value, Inputs, Level 2 [Member] | Other Investments [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Investments at fair value (cost of $7,904,636 and $5,686,545, respectively) | ||||
Fair Value, Inputs, Level 2 [Member] | Private Portfolio Companies [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Investments at fair value (cost of $7,904,636 and $5,686,545, respectively) | ||||
Fair Value, Inputs, Level 2 [Member] | Common Stock In Public Companies [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Investments at fair value (cost of $7,904,636 and $5,686,545, respectively) | ||||
Fair Value, Inputs, Level 3 [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Investments at fair value (cost of $7,904,636 and $5,686,545, respectively) | 9,811,486 | 6,729,412 | ||
Fair Value, Inputs, Level 3 [Member] | Convertible Debt Securities [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Investments at fair value (cost of $7,904,636 and $5,686,545, respectively) | 3,801,833 | 2,553,954 | ||
Fair Value, Inputs, Level 3 [Member] | Preferred Stock [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Investments at fair value (cost of $7,904,636 and $5,686,545, respectively) | 4,538,653 | 3,129,458 | ||
Fair Value, Inputs, Level 3 [Member] | Common Stock In Private Companies [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Investments at fair value (cost of $7,904,636 and $5,686,545, respectively) | 325,000 | 300,000 | ||
Fair Value, Inputs, Level 3 [Member] | SAFE [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Investments at fair value (cost of $7,904,636 and $5,686,545, respectively) | 575,000 | 325,000 | ||
Fair Value, Inputs, Level 3 [Member] | Other Investments [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Investments at fair value (cost of $7,904,636 and $5,686,545, respectively) | 571,000 | 421,000 | ||
Fair Value, Inputs, Level 3 [Member] | Private Portfolio Companies [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Investments at fair value (cost of $7,904,636 and $5,686,545, respectively) | 9,811,486 | 6,729,412 | ||
Fair Value, Inputs, Level 3 [Member] | Common Stock In Public Companies [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Investments at fair value (cost of $7,904,636 and $5,686,545, respectively) |
SCHEDULE OF INVESTMENTS IN UNRE
SCHEDULE OF INVESTMENTS IN UNREALIZED GAIN OR LOSSES FOREIGN EXCHANGE RATES ON SECURITIES (Details) - USD ($) | 6 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Fair value, beginning | $ 6,821,407 | $ 2,665,499 |
New investments | 2,218,091 | 740,000 |
Proceeds from sale of investments | ||
Realized gains | ||
Net change in unrealized gains | 1,403,315 | 478,248 |
Fair value, ending | 10,442,813 | 3,883,747 |
Changes in unrealized gains or losses for the period included in Condensed Statement of Operations for assets held at the end of the reporting period | 1,403,315 | 478,248 |
Fintech [Member] | ||
Fair value, beginning | 126,030 | 101,500 |
New investments | ||
Proceeds from sale of investments | ||
Realized gains | ||
Net change in unrealized gains | 24,530 | |
Fair value, ending | 126,030 | 126,030 |
Technology [Member] | ||
Fair value, beginning | 1,394,318 | 685,002 |
New investments | 590,600 | |
Proceeds from sale of investments | ||
Realized gains | ||
Net change in unrealized gains | 45,531 | 37,769 |
Fair value, ending | 2,030,449 | 722,771 |
Life science [Member] | ||
Fair value, beginning | 5,301,059 | 1,878,997 |
New investments | 1,627,491 | 740,000 |
Proceeds from sale of investments | ||
Realized gains | ||
Net change in unrealized gains | 1,357,784 | 415,949 |
Fair value, ending | 8,286,334 | 3,034,946 |
UNITED STATES | ||
Fair value, beginning | 5,486,011 | 2,170,499 |
New investments | 1,668,091 | 540,000 |
Proceeds from sale of investments | ||
Realized gains | ||
Net change in unrealized gains | 1,360,028 | 438,953 |
Fair value, ending | 8,514,130 | 3,149,452 |
CANADA | ||
Fair value, beginning | 907,560 | 245,000 |
New investments | 200,000 | 150,000 |
Proceeds from sale of investments | ||
Realized gains | ||
Net change in unrealized gains | 29,556 | 21,947 |
Fair value, ending | 1,137,116 | 416,947 |
Rest of World [Member] | ||
Fair value, beginning | 427,836 | 250,000 |
New investments | 350,000 | 50,000 |
Proceeds from sale of investments | ||
Realized gains | ||
Net change in unrealized gains | 13,731 | 17,348 |
Fair value, ending | $ 791,567 | $ 317,348 |
SCHEDULE OF ADJUSTMENT IN FAIR
SCHEDULE OF ADJUSTMENT IN FAIR VALUE TO REFLECT IMPAIRMENT OF INVESTMENT (Details) - USD ($) | 6 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Net Investment Income [Line Items] | ||
Fair value, beginning | $ 6,821,407 | $ 2,665,499 |
Conversions into preferred stock | ||
New investments | 2,218,091 | 740,000 |
Proceeds from sale of investments | ||
Realized gains | ||
Unrealized Gain (Loss) on Investments | 1,403,315 | 478,248 |
Fair value, ending | 10,442,813 | 3,883,747 |
Convertible Debt Securities [Member] | ||
Net Investment Income [Line Items] | ||
Fair value, beginning | 2,553,954 | 1,528,002 |
Conversions into preferred stock | (597,984) | |
New investments | 1,027,491 | 100,000 |
Proceeds from sale of investments | ||
Realized gains | ||
Unrealized Gain (Loss) on Investments | 220,388 | 178,986 |
Fair value, ending | 3,801,833 | 1,209,004 |
Preferred Stock [Member] | ||
Net Investment Income [Line Items] | ||
Fair value, beginning | 3,129,458 | 701,497 |
Conversions into preferred stock | 678,313 | |
New investments | 600,000 | 440,000 |
Proceeds from sale of investments | ||
Realized gains | ||
Unrealized Gain (Loss) on Investments | 809,195 | 279,433 |
Fair value, ending | 4,538,653 | 2,099,243 |
Common Stock [Member] | ||
Net Investment Income [Line Items] | ||
Fair value, beginning | 391,995 | 126,500 |
Conversions into preferred stock | ||
New investments | 190,600 | 100,000 |
Proceeds from sale of investments | ||
Realized gains | ||
Unrealized Gain (Loss) on Investments | 373,732 | (62,000) |
Fair value, ending | 956,327 | 164,500 |
SAFE [Member] | ||
Net Investment Income [Line Items] | ||
Fair value, beginning | 325,000 | 73,500 |
Conversions into preferred stock | (80,329) | |
New investments | 250,000 | |
Proceeds from sale of investments | ||
Realized gains | ||
Unrealized Gain (Loss) on Investments | 81,829 | |
Fair value, ending | 575,000 | 75,000 |
Other Ownership Units [Member] | ||
Net Investment Income [Line Items] | ||
Fair value, beginning | 421,000 | 236,000 |
Conversions into preferred stock | ||
New investments | 150,000 | 100,000 |
Proceeds from sale of investments | ||
Realized gains | ||
Unrealized Gain (Loss) on Investments | ||
Fair value, ending | $ 571,000 | $ 336,000 |
INVESTMENTS (Details Narrative)
INVESTMENTS (Details Narrative) | Sep. 30, 2021 | Mar. 31, 2021 |
Investments, All Other Investments [Abstract] | ||
Investment owned, percent of net assets approximate value | 96.00% | |
Percentage of net asset | 98.00% |
SCHEDULE OF OPTIONS VESTED (Det
SCHEDULE OF OPTIONS VESTED (Details) - $ / shares | 3 Months Ended | 6 Months Ended |
Sep. 30, 2021 | Sep. 30, 2021 | |
Equity [Abstract] | ||
Number of options granted outstanding, Beginning balance | 2,634,250 | |
Weighted average exercise price outstanding, Beginning balance | $ 0.05 | |
Weighted average remaining life years, Beginning years | 8 years 1 month 17 days | |
Number of options granted | 740,000 | |
Weighted average exercise price granted | $ 0.07 | |
Weighted average remaining life years granted | 9 years 5 months 1 day | |
Number of options Exercised | (18,750) | (18,750) |
Weighted average exercise price Exercised | $ (0.03) | |
Number of options Cancelled | ||
Weighted average exercise price Cancelled | ||
Number of options granted outstanding, Ending balance | 3,355,500 | 3,355,500 |
Weighted average exercise price outstanding, Ending balance | $ 0.06 | $ 0.06 |
Weighted average remaining life years, Ending years | 8 years 7 months 17 days | |
Number of options granted Exercisable | 2,085,041 | 2,085,041 |
Weighted average exercise price Exercisable | $ 0.04 | $ 0.04 |
Weighted average remaining life years Exercisable | 8 years 10 months 24 days |
SCHEDULE OF FAIR VALUE ASSUMPTI
SCHEDULE OF FAIR VALUE ASSUMPTIONS - STOCK OPTIONS (Details) - $ / shares | 6 Months Ended | 12 Months Ended | |
Sep. 30, 2021 | Mar. 30, 2021 | Mar. 31, 2021 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Stock Price at grant date | $ 0.07 | ||
Exercise Price | $ 0.07 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 196.00% | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | 0.00% | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 0.12% | ||
Warrant [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Stock Price at grant date | $ 0.006 | ||
Exercise Price | $ 1.200 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 3 years | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 73.00% | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 1.79% | ||
Minimum [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Stock Price at grant date | $ 0.033 | ||
Exercise Price | 0.033 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 0 years | 0 years | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 71.00% | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 0.12% | ||
Maximum [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Stock Price at grant date | 0.078 | ||
Exercise Price | $ 0.078 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 2 years | 2 years | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 196.00% | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 2.00% |
SCHEDULE OF WARRANTS (Details)
SCHEDULE OF WARRANTS (Details) - Warrant [Member] - $ / shares | 6 Months Ended | 12 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Mar. 31, 2021 | Mar. 31, 2020 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Number of warrants outstanding, Beginning balance | 1,596,667 | 4,200,000 | 4,200,000 | |
Weighted average exercise price outstanding, Beginning balance | $ 1.20 | $ 1.20 | $ 1.20 | |
Weighted average remaining life years, Beginning years | 1 year 4 months 24 days | 2 years 10 months 24 days | ||
Number of warrants granted | ||||
Weighted average exercise price outstanding granted | ||||
Number of warrants Exercised | (2,603,333) | |||
Weighted average exercise price outstanding Exercised | $ 1.20 | |||
Number of warrants Cancelled | ||||
Weighted average exercise price outstanding Cancelled | ||||
Number of warrants outstanding, Beginning balance | 1,596,667 | 1,596,667 | 1,596,667 | 4,200,000 |
Weighted average exercise price outstanding, Ending balance | $ 1.20 | $ 1.20 | $ 1.20 | $ 1.20 |
Weighted average remaining life years, Ending years | 1 year 1 month 6 days | 1 year 4 months 24 days | ||
Number of warrants Exercisable | 1,596,667 | 1,596,667 | 1,596,667 | 4,200,000 |
Weighted average exercise price Exercisable | $ 1.20 | $ 1.20 | $ 1.20 | |
Weighted average remaining life years Exercisable | 1 year 1 month 6 days | 1 year 4 months 24 days | 1 year 4 months 24 days | 2 years 10 months 24 days |
EQUITY (Details Narrative)
EQUITY (Details Narrative) - USD ($) | Sep. 30, 2021 | Mar. 02, 2021 | Jul. 31, 2019 | Apr. 30, 2018 | Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 |
Class of Stock [Line Items] | |||||||||||
Sale of stock, shares | 3,285,789 | 3,285,789 | |||||||||
Common stock par value | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | |||||||
Preferred Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | |||||||
Preferred Stock, Shares Authorized | 19,800,000 | 19,800,000 | 19,800,000 | 19,800,000 | |||||||
Share issued during period, value | $ 1,273,000 | $ 895,000 | $ 1,826,001 | $ 1,270,000 | |||||||
Common Stock, Shares Authorized | 40,000,000 | 40,000,000 | 40,000,000 | 40,000,000 | |||||||
Common Stock, Shares, Issued | 13,287,621 | 13,287,621 | 13,287,621 | 9,983,082 | |||||||
Common Stock, Shares, outstanding | 13,287,621 | 13,287,621 | 13,287,621 | 9,983,082 | |||||||
Exercise of stock shares, Issued | 18,750 | 18,750 | |||||||||
Exercise of stock value | $ 618 | $ 618 | |||||||||
Share-based Payment Arrangement, Noncash Expense | 10,897 | 12,805 | 21,454 | 13,851 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ 62,580 | $ 62,580 | 56,987 | $ 62,580 | 56,987 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term | 1 year 5 months 8 days | ||||||||||
2018 Stock Option And Incentive Plan [Member] | |||||||||||
Class of Stock [Line Items] | |||||||||||
Reserving stock option issuance | 2,697,085 | ||||||||||
2019 Stock Option And Incentive Plan [Member] | |||||||||||
Class of Stock [Line Items] | |||||||||||
Number of stock option grant | 2,000,000 | ||||||||||
Expiration date | May 21, 2029 | ||||||||||
2020 Stock Option And Incentive Plan [Member] | |||||||||||
Class of Stock [Line Items] | |||||||||||
Number of stock option grant | 2,000,000 | ||||||||||
Common Stock [Member] | |||||||||||
Class of Stock [Line Items] | |||||||||||
Sale of stock price per share | $ 0.40 | $ 0.40 | $ 0.40 | ||||||||
Share issued during period, value | |||||||||||
Exercise of stock shares, Issued | 18,750 | 18,750 | |||||||||
Exercise of stock value | $ 187 | $ 187 | |||||||||
Number of warrant issued | 4,200,000 | 4,200,000 | 4,200,000 | ||||||||
Number of warrant exercise price | $ 1.20 | $ 1.20 | $ 1.20 | ||||||||
Warrants and Rights Outstanding, Term | 3 years | 3 years | 3 years | ||||||||
Common Stock [Member] | Amendment of Preferred Stock [Member] | |||||||||||
Class of Stock [Line Items] | |||||||||||
Share issued during period, value | $ 1,314,317 | $ 1,314,317 | |||||||||
Common stock subscription, value | $ 1,191,442 | ||||||||||
Non Qualified Stock Options [Member] | |||||||||||
Class of Stock [Line Items] | |||||||||||
Stock options number of shares | 490,000 | 510,000 | 740,000 | 630,000 | |||||||
Share based payment vesting period | 2 years | ||||||||||
Series A Preferred Stock [Member] | |||||||||||
Class of Stock [Line Items] | |||||||||||
Sale of stock, shares | 4,200,000 | ||||||||||
Sale of stock price per share | $ 0.80 | ||||||||||
Excess outstanding shares | 550,000 | 550,000 | 550,000 | ||||||||
Preferred Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | |||||||
Preferred Stock, Shares Authorized | 4,200,000 | 4,200,000 | 4,200,000 | 4,200,000 | |||||||
Series A-1 Preferred Stock [Member] | |||||||||||
Class of Stock [Line Items] | |||||||||||
Common stock par value | $ 0.40 | $ 0.40 | $ 0.40 | ||||||||
Share purchased value | $ 6,000 | ||||||||||
Share issued during period stock exchanged, shares | 1,437,500 | ||||||||||
Series A-1 And Series A-2 Preferred Stock [Member] | IPO [Member] | |||||||||||
Class of Stock [Line Items] | |||||||||||
Purchased share discount percentage | 10.00% | ||||||||||
Series A-2 Preferred Stock [Member] | |||||||||||
Class of Stock [Line Items] | |||||||||||
Share issued during period stock exchanged, shares | 2,212,500 | ||||||||||
Series B Preferred Stock [Member] | |||||||||||
Class of Stock [Line Items] | |||||||||||
Sale of stock price per share | $ 0.80 | $ 0.80 | $ 0.80 | $ 0.80 | $ 0.80 | ||||||
Excess outstanding shares | 286,250 | 286,250 | 286,250 | ||||||||
Preferred Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | |||||||
Preferred Stock, Shares Authorized | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | |||||||
Preferred Stock, Dividend Rate, Percentage | 10.00% | ||||||||||
[custom:AdditionalPreferredStockSharesAuthorized-0] | 3,000,000 | 3,000,000 | 3,000,000 | ||||||||
Series B Preferred Stock [Member] | Common Stock [Member] | |||||||||||
Class of Stock [Line Items] | |||||||||||
Common stock par value | $ 0.40 | ||||||||||
Series B-1 Preferred Stock [Member] | |||||||||||
Class of Stock [Line Items] | |||||||||||
Sale of stock, shares | 1,591,250 | 2,282,500 | |||||||||
Share purchased value | $ 6,000 | ||||||||||
Share issued during period stock exchanged, shares | 1,166,406 | ||||||||||
Share issued during period, value | $ 1,273,000 | $ 1,826,001 | |||||||||
Series B-1 And Series B-1 Preferred Stock [Member] | IPO [Member] | |||||||||||
Class of Stock [Line Items] | |||||||||||
Purchased share discount percentage | 1000.00% | ||||||||||
Series B-2 Preferred Stock [Member] | |||||||||||
Class of Stock [Line Items] | |||||||||||
Share issued during period stock exchanged, shares | 2,176,250 | ||||||||||
Series B-3 Preferred Stock [Member] | |||||||||||
Class of Stock [Line Items] | |||||||||||
Preferred Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 | $ 0.01 | ||||||||
Preferred Stock, Shares Authorized | 9,000,000 | 9,000,000 | 9,000,000 | ||||||||
Dividend offered | $ 0.80 | $ 0.80 | $ 0.80 | ||||||||
Accumulated dividend share percentage | 10.00% | ||||||||||
Closing public stock | $ 10,000,000 |
SCHEDULE OF FINANCIAL HIGHLIGHT
SCHEDULE OF FINANCIAL HIGHLIGHTS (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | ||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||||||
Net asset value | [1] | $ 0.82 | $ 0.72 | $ 0.82 | $ 0.72 | $ 0.82 |
Net investment income loss | (0.03) | (0.03) | (0.06) | $ (0.03) | ||
Net unrealized gain on investments | 0.10 | 0.05 | 0.11 | 0.08 | ||
Net increase in net assets | $ 0.08 | $ 0.05 | $ 0.05 | $ 0.05 | ||
Net assets, end of period | $ 10,817,894 | $ 4,230,731 | $ 10,817,894 | $ 4,230,731 | $ 10,817,894 | |
Weighted average common shares outstanding, end of period | 13,271,996 | 5,836,832 | 13,269,764 | 5,836,832 | ||
Total operating expenses/net assets | 3.30% | 3.80% | 6.80% | 4.70% | ||
Net investment loss/net assets | 3.30% | 3.80% | 6.80% | 4.70% | ||
Total return | 9.20% | 7.50% | 6.10% | 6.60% | ||
[1] | Per share data is based on the weighted average number of common shares outstanding at the end of the period. |
SUBSEQUENT EVENTS (Details Narr
SUBSEQUENT EVENTS (Details Narrative) - USD ($) | Nov. 13, 2021 | Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Oct. 05, 2021 | Mar. 31, 2021 | Mar. 31, 2020 |
Subsequent Event [Line Items] | ||||||||
Stock, authorized | 19,800,000 | 19,800,000 | 19,800,000 | |||||
Number of stock issued value | $ 1,273,000 | $ 895,000 | $ 1,826,001 | $ 1,270,000 | ||||
Investments at fair value (cost of $7,904,636 and $5,686,545, respectively) | $ 10,442,813 | $ 3,883,747 | $ 10,442,813 | $ 3,883,747 | $ 6,821,407 | $ 2,665,499 | ||
Subsequent Event [Member] | ||||||||
Subsequent Event [Line Items] | ||||||||
Investments at fair value (cost of $7,904,636 and $5,686,545, respectively) | $ 300,000 | |||||||
Series B-3 Preferred Stock [Member] | ||||||||
Subsequent Event [Line Items] | ||||||||
Stock, authorized | 9,000,000 | 9,000,000 | ||||||
Series B-3 Preferred Stock [Member] | Subsequent Event [Member] | ||||||||
Subsequent Event [Line Items] | ||||||||
Stock, authorized | 3,000,000 | |||||||
Number of stock issued value | $ 546,000 |