Advanced Flower Capital Inc.

For the period ended Mar 31, 2026. Filed May 7, 2026.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2026 · Filed May 7, 2026

AFCG$3.44+8.4%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Index

TABLE OF CONTENTS

INDEX

Part I. · Financial Information
Item 1.	Financial Statements	1
	Consolidated Statement of Assets and Liabilities as of March 31, 2026 (unaudited)	1
	Consolidated Balance Sheet as of December 31, 2025	2
	Consolidated Statement of Operations for the three months ended March 31, 2026 and 2025 (unaudited)	3
	Consolidated Statement of Changes in Net Assets for the three months ended March 31, 2026 and 2025 (unaudited)	5
	Consolidated Statement of Shareholders' Equity for the three months ended March 31, 2025 (unaudited)	6
	Consolidated Statement of Cash Flows for the three months ended March 31, 2026 and 2025 (unaudited)	7
	Consolidated Schedules of Investments as of March 31, 2026 and December 31, 2025 (unaudited)	9
	Notes to the Consolidated Financial Statements (unaudited)	13
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	37
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	48
Item 4.	Controls and Procedures	50
Part II.	Other Information	50
Item 1.	Legal Proceedings	51
Item 1A.	Risk Factors	52
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	52
Item 3.	Defaults Upon Senior Securities	52
Item 4.	Mine Safety Disclosures	52
Item 5.	Other Information	52
Item 6.	Exhibits	53
	Signatures	54

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.