Net Investment Income for the quarter and fiscal year ended March 31, 2012, was $3.5 million and $13.7 million, or $0.16 and $0.62 per share, respectively.

Net (Decrease) Increase in Net Assets Resulting From Operations for the quarter and fiscal year ended March 31, 2012, was ($0.4) million and $22.0 million, or ($0.02) and $0.99 per share, respectively.

Term Preferred Stock Offering: In March 2012, the Company issued 1.6 million shares of 7.125% Series A Cumulative Term Preferred Stock (“Term Preferred Stock”) at a public offering price of $25.00 per share for net proceeds of $38.0 million, after deducting underwriting discounts and offering expenses borne by the Company. The proceeds were used to repay borrowings under the Company’s line of credit, with the remaining proceeds being held to make additional investments and for general corporate purposes. The Company is required to redeem all of the outstanding Term Preferred Stock on February 28, 2017, for cash at a redemption price equal to $25.00 per share plus an amount equal to accumulated but unpaid dividends, if any, to the date of redemption. The Term Preferred Stock has a preference over the Company’s common stock with respect to these dividends, whereby no distributions are payable on the Company’s common stock unless the stated dividends, including any accrued and unpaid dividends, on the Term Preferred Stock have been paid in full. The Term Preferred Stock trades on NASDAQ under the symbol “GAINP.”

Recurring Distributions: The Company paid monthly cash distributions to common stockholders of $0.05 per common share for each of January, February and March 2012. Additionally, the Company paid the pro-rata amount for March 2012 to holders of its Term Preferred Stock of $0.12369792 per preferred share.

Bonus Distributions: In March 2012, the Company declared and paid a bonus dividend to common stockholders of $0.03 per common share.

New Investment: In May 2012, the Company invested $9.5 million in a new affiliate investment through a combination of debt and equity.

Distributions Declared: In April 2012, the Company’s board of directors declared the following monthly cash distributions:

Record Date

April 20, 2012

May 18, 2012

June 20, 2012

Total for the Quarter:

For Year Ended:

Net investment income

Net increase in net assets resulting from operations

Weighted average yield on interest-bearing investments

Total dollars invested

Total dollars repaid

For Quarter Ended:

Net investment income

Net (decrease) increase in net assets resulting from operations

Weighted average yield on interest-bearing investments

Total dollars invested

Total dollars repaid

As of:

Fair value as a percent of cost

Net asset value per share

Number of portfolio companies

Total assets at fair value

ASSETS

Investments at fair value

Control investments (Cost of $186,743 and $136,306, respectively)

Affiliate investments (Cost of $70,015 and $45,145, respectively)

Non-Control/Non-Affiliate investments (Cost of $9,637 and $15,741, respectively)

Total investments at fair value (Cost of $266,395 and $197,192, respectively)

Cash and cash equivalents

Restricted cash

Interest receivable

Due from Custodian

Deferred financing costs

Other assets

TOTAL ASSETS

LIABILITIES

Borrowings at fair value:

Short-term loan (Cost of $76,005 and $40,000, respectively)

Line of credit (Cost of $0)

Total borrowings (Cost of $76,005 and $40,000, respectively)

Mandatorily redeemable preferred stock, $0.001 par value per share, $25 liquidation preference per share; 1,610,000 and no shares authorized; 1,600,000 and no shares issued and outstanding at March 31, 2012 and 2011, respectively

Accounts payable and accrued expenses

Fees due to Adviser

Fee due to Administrator

Other liabilities

TOTAL LIABILITIES

Commitments and contingencies

NET ASSETS

ANALYSIS OF NET ASSETS

Common stock, $0.001 par value per share, 100,000,000 shares authorized, 22,080,133 shares issued and outstanding at March 31, 2012 and 2011, respectively

Capital in excess of par value

Cumulative net unrealized depreciation of investments

Cumulative net unrealized depreciation of other

Net investment income in excess of distributions

Accumulated net realized loss

TOTAL NET ASSETS

NET ASSET VALUE PER SHARE AT END OF PERIOD

INVESTMENT INCOME

Interest income:

Control investments

Affiliate investments

Non-Control/Non-Affiliate investments

Cash and cash equivalents

Total interest income

Other income:

Control investments

Non-Control/Non-Affiliate investments

Total other income

Total investment income

EXPENSES

Base management fee

Administration fee

Interest expense on borrowings

Dividends on mandatorily redeemable preferred stock

Amortization of deferred financing costs

Professional fees

Other general and administrative expenses

Expenses before credits from Adviser

Credits to fees

Total expenses net of credits to fees

NET INVESTMENT INCOME

UNREALIZED (LOSS) GAIN

Net unrealized appreciation (depreciation):

Control investments

Affiliate investments

Non-Control/Non-Affiliate investments

Other

Net unrealized (loss) gain

NET (DECREASE) INCREASE IN NET ASSETS RESULTING FROM OPERATIONS

NET (DECREASE) INCREASE IN NET ASSETS RESULTING FROM OPERATIONS PER COMMON SHARE:

Basic and Diluted

WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING:

Basic and diluted

INVESTMENT INCOME

Interest income:

Control investments

Affiliate investments

Non-Control/Non-Affiliate investments

Cash and cash equivalents

Total interest income

Other income:

Control investments

Non-Control/Non-Affiliate investments

Total other income

Total investment income

EXPENSES

Base management fee

Incentive fee

Administration fee⁽

Interest expense on borrowings

Dividends on mandatorily redeemable preferred stock

Amortization of deferred financing costs

Professional fees

Other general and administrative expenses

Expenses before credits from Adviser

Credits to fees

Total expenses net of credits to fees

NET INVESTMENT INCOME

REALIZED AND UNREALIZED GAIN (LOSS)

Net realized gain (loss):

Control investments

Non-Control/Non-Affiliate investments

Other

Total net realized gain (loss)

Net unrealized appreciation (depreciation):

Control investments

Affiliate investments

Non-Control/Non-Affiliate investments

Other

Total net unrealized appreciation (depreciation)

Net realized and unrealized gain (loss)

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS PER COMMON SHARE:

Basic and Diluted

WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING:

Basic and diluted

Per Share Data

Net asset value at beginning of period^(A)

Net investment income^(B)

Net unrealized (depreciation) appreciation of investments^(B)

Total from investment operations^(B)

Cash distributions from net investment income^(B)(C)

Net asset value at end of period^(A)

Per share market value at beginning of period

Per share market value at end of period

Total return^(D)

Shares outstanding at end of period

Statement of Assets and Liabilities Data:

Net assets at end of period

Average net assets^(E)

Senior Securities Data:

Total borrowings, at cost

Mandatorily redeemable preferred stock

Asset coverage ratio^(F)

Average coverage per unit^(G)

Ratios/Supplemental Data:

Ratio of expenses to average net assets^(H)(J)

Ratio of net expenses to average net assets^(I)(J)

Ratio of net investment income to average net assets^(J)

Based on actual shares outstanding at the end of the corresponding year.

Based on weighted average per basic common share data.

Distributions are determined based on taxable income calculated in accordance with income tax regulations, which may differ from amounts determined under accounting principles generally accepted in the United States of America.

Total return equals the change in the market value of the Company’s common stock from the beginning of the period, taking into account dividends reinvested in accordance with the terms of the Company’s dividend reinvestment plan. Total return does not take into account distributions that may be characterized as a return of capital.

Calculated using the average balance of net assets at the end of each month of the respective periods.

As a business development company, the Company is generally required to maintain an asset coverage ratio of at least 200% of total consolidated assets, less all liabilities and indebtedness not represented by senior securities, to the aggregate amount of senior securities. The Company’s mandatorily redeemable preferred stock is characterized as a senior security for purposes of the asset coverage ratio.

Asset coverage per unit is the asset coverage ratio expressed in terms of dollar amounts per one thousand dollars of indebtedness.

Ratio of expenses to average net assets is computed using expenses before credits from the Adviser.

Ratio of net expenses to average net assets is computed using total expenses net of credits to the management fee.

Amounts are annualized.

Per Share Data

Net asset value at beginning of year^(A)

Net investment income^(B)

Realized gain on sale of investments^(B)

Net unrealized appreciation (depreciation) of investments^(B)

Total from investment operations^(B)

Cash distributions from net investment income^(B)(C)

Net asset value at end of year^(A)

Per share market value at beginning of year

Per share market value at end of year

Total return^(D)

Shares outstanding at end of year

Statement of Assets and Liabilities Data:

Net assets at end of year

Average net assets^(E)

Senior Securities Data:

Total borrowings, at cost

Mandatorily redeemable preferred stock

Asset coverage ratio^(F)

Average coverage per unit^(G)

Ratios/Supplemental Data:

Ratio of expenses to average net assets^(H)

Ratio of net expenses to average net assets^(I)

Ratio of net investment income to average net assets

Based on actual shares outstanding at the end of the corresponding year.

Based on weighted average per basic common share data.

Distributions are determined based on taxable income calculated in accordance with income tax regulations, which may differ from amounts determined under GAAP.

Total return equals the change in the market value of our common stock from the beginning of the year, taking into account dividends reinvested in accordance with the terms of our dividend reinvestment plan. Total return does not take into account distributions that may be characterized as a return of capital.

Calculated using the average balance of net assets at the end of each month of the reporting year.

As a BDC, we are generally required to maintain an asset coverage ratio of at least 200% of total consolidated assets, less all liabilities and indebtedness not represented by senior securities, to the aggregate amount of senior securities. Our mandatorily redeemable preferred stock is characterized as a senior security for purposes of the asset coverage ratio.

Asset coverage per unit is the asset coverage ratio expressed in terms of dollar amounts per one thousand dollars of indebtedness.

Ratio of expenses to average net assets is computed using expenses before credits from the Adviser.

Ratio of net expenses to average net assets is computed using total expenses net of credits to the management fee.