Advanced Flower Capital Inc.

For the period ended Sep 30, 2026. Filed Nov 5, 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.

Sep 30, 2026 · Filed Nov 5, 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 September 30, 2026 (unaudited)	1
	Consolidated Balance Sheet as of December 31, 2025	2
	Consolidated Statement of Operations for the three and nine months ended September 30, 2026 and 2025 (unaudited)	3
	Consolidated Statement of Changes in Net Assets for the three and nine months ended September 30, 2026 (unaudited)	5
	Consolidated Statement of Shareholders' Equity for the three and nine months ended September 30, 2025 (unaudited)	6
	Consolidated Statement of Cash Flows for the nine months ended September 30, 2026 and 2025 (unaudited)	7
	Consolidated Schedules of Investments as of September 30, 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	51
Item 4.	Controls and Procedures	53
Part II.	Other Information	54
Item 1.	Legal Proceedings	54
Item 1A.	Risk Factors	55
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	55
Item 3.	Defaults Upon Senior Securities	56
Item 4.	Mine Safety Disclosures	56
Item 5.	Other Information	56
Item 6.	Exhibits	57
	Signatures	58

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.