on march 20 , 2019 , we completed a registered direct offering of $ 40.0 million in additional aggregate principal amount of our 2023 notes . see “ 2023 notes ” below for more information . investment income we generate interest income on the debt investments in portfolio company investments that we originate or acquire . our debt investments , whether in the form of senior secured , unitranche secured or junior secured debt , typically have an initial term of three to seven years and bear interest at a fixed or floating rate . in some instances , we receive payments on our debt investment based on scheduled amortization of the outstanding balances . in addition , we receive repayments of some of our debt investments prior to their scheduled maturity date . in some cases , our investments provide for deferred interest of payment-in-kind ( “ pik ” ) interest . in addition , we may generate revenue in the form of commitment , origination , amendment , structuring or due diligence fees , fees for providing managerial assistance and consulting fees . loan origination fees , original issue discount and market discount or premium are capitalized , and we accrete or amortize such amounts as interest income . we record prepayment premiums and prepayment gains ( losses ) on loans as interest income . as the frequency or volume of the repayments which trigger these prepayment premiums and prepayment gains ( losses ) may fluctuate significantly from period to period , the associated interest income recorded may also fluctuate significantly from period to period . interest and fee income is recorded on the accrual basis to the extent we expect to collect such amounts . interest income is accrued based upon the outstanding principal amount and contractual terms of debt and preferred equity investments . interest is accrued on a daily basis . we record fees on loans based on the determination of whether the fee is considered a yield enhancement or payment for a service . if the fee is considered a yield enhancement associated with a funding of cash on a loan , the fee is generally deferred and recognized into interest income using the effective interest method if captured in the cost basis or using the straight-line method if the loan is unfunded and therefore there is no cost basis . if the fee is not considered a yield enhancement because a service was provided , and the fee is payment for that service , the fee is deemed earned and recognized as fee income in the period the service has been completed . dividend income on preferred equity securities is recorded as dividend income on an accrual basis to the extent that such amounts are payable by the portfolio company and are expected to be collected . dividend income on common equity securities is recorded on the record date for private portfolio companies . each distribution received from limited liability company ( “ llc ” ) and limited partnership ( “ lp ” ) investments is evaluated to determine if the distribution should be recorded as dividend income or a return of capital . generally , we will not record distributions from equity investments in llcs and lps as dividend income unless there are sufficient accumulated tax-basis earnings and profits in the llc or lp prior to the distribution . distributions that are classified as a return of capital are recorded as a reduction in the cost basis of the investment . the frequency and volume of the distributions on common equity securities and llc and lp investments may fluctuate significantly from period to period . 47 expenses our primary operating expenses include the payment of base management and incentive fees to mc advisors , under the investment advisory and management agreement ( the “ investment advisory agreement ” ) , the payment of fees to mc management for our allocable portion of overhead and other expenses under the administration agreement ( the “ administration agreement ” ) and other operating costs . see note 6 to our consolidated financial statements and “ related party transactions ” below for additional information on our investment advisory agreement and administration agreement . our expenses also include interest expense on our various forms of indebtedness . we bear all other out-of-pocket costs and expenses of our operations and transactions . net gain ( loss ) we recognize realized gains or losses on investments based on the difference between the net proceeds from the disposition and the cost basis of the investment without regard to unrealized gains or losses previously recognized . we record current period changes in fair value of investments , foreign currency forward contracts , secured borrowings , foreign currency and other transactions within net change in unrealized gain ( loss ) on the consolidated statements of operations . portfolio and investment activity during the year ended december 31 , 2019 , we invested $ 98.6 million in 18 new portfolio companies and $ 132.0 million in 33 existing portfolio companies and had $ 166.1 million in aggregate amount of sales and principal repayments , resulting in net investments of $ 64.5 million for the year . during the year ended december 31 , 2018 , we invested $ 112.4 million in 20 new portfolio companies and $ 128.0 million in 31 existing portfolio companies and had $ 159.2 million in aggregate amount of sales and principal repayments , resulting in net investments of $ 81.2 million for the year . during the year ended december 31 , 2017 , we invested $ 200.4 million in 27 new portfolio companies and $ 64.0 million in 31 existing portfolio companies and had $ 173.4 million in aggregate amount of sales and principal repayments , resulting in net investments of $ 91.0 million for the year . story_separator_special_tag the award was issued as “ interim ” due to the fact that the arbitrator will hear further briefing from both parties as to an allocation of attorneys ' fees , interest and certain other amounts that should be paid to rockdale in connection with the interim award . as such , the exact computation of the final amount of the award has yet to be determined and is uncertain , but is expected to resolve over the next few quarters . at this time , we believe that our share of the net proceeds from the award will exceed the cost basis of our investment due to our right to receive excess proceeds pursuant to the terms of a sharing agreement between the lenders and the estate ; however , due to the aforementioned post-trial arbitration proceedings , it is not certain that will be the case . the lenders to rockdale , including the company , will share in the proceeds of this arbitration award with the estate , once it becomes final and is paid . at this time , it is also unclear whether , or to what extent , the national insurance carrier may seek to appeal the adverse ruling against it . we believe that any such appeal is unlikely to be successful based on the appellate standard for arbitration . for the years ended december 31 , 2019 , 2018 and 2017 , our secured borrowings had zero , zero and ( $ 6 ) thousand of net change in unrealized gain ( loss ) , respectively . for the years ended december 31 , 2019 , 2018 and 2017 , our foreign currency forward contracts had ( $ 75 ) thousand , $ 16 thousand , and zero of net change in unrealized gain ( loss ) , respectively . for the years ended december 31 , 2019 , 2018 and 2017 , our foreign currency borrowings had ( $ 0.8 ) million , $ 1.0 million and ( $ 0.4 ) million of net change in unrealized gain ( loss ) , respectively . net increase ( decrease ) in net assets resulting from operations for the years ended december 31 , 2019 , 2018 and 2017 , the net increase ( decrease ) in net assets from operations was $ 19.2 million , $ 5.8 million and $ 12.2 million , respectively . based on the weighted average shares of common stock outstanding for the years ended december 31 , 2019 , 2018 and 2017 , our per share net increase ( decrease ) in net assets resulting from operations was $ 0.94 , $ 0.29 and $ 0.65 , respectively . the $ 13.4 million increase during the year ended december 31 , 2019 , is primarily the result of a comparative decrease in net mark-to-market losses on investments in the portfolio , partially offset by a decrease in net investment income . the $ 6.4 million decrease during the year ended december 31 , 2018 , is primarily the result of an increase in net losses on investments in the portfolio , partially offset by an increase in net investment income primarily due to portfolio growth and the incentive fee limitation . liquidity and capital resources as of december 31 , 2019 , we had $ 2.2 million in cash , $ 27.4 million in cash at mrcc sbic , $ 180.3 million of total debt outstanding on our revolving credit facility , $ 109.0 million in 2023 notes and $ 115.0 million in outstanding sba debentures . we had $ 74.7 million available for additional borrowings on our revolving credit facility . see “ borrowings ” below for additional information . cash flows for the year ended december 31 , 2019 , we experienced a net increase ( decrease ) in cash and restricted cash of $ 11.9 million . during the same period we used $ 39.2 million in operating activities , primarily as a result of purchases of portfolio investments , partially offset by sales of and principal repayments on portfolio investments . during the same period , we generated $ 51.2 million from financing activities , primarily as a result of net proceeds from our 2023 notes ( net of deferred financing cost payments ) and net borrowings on our revolving credit facility and 2023 notes , partially offset by distributions to stockholders . for the year ended december 31 , 2018 , we experienced a net increase ( decrease ) in cash and restricted cash of $ 10.5 million . during the same period we used $ 55.1 million in operating activities , primarily as a result of purchases of portfolio investments , partially offset by sales of and principal repayments on portfolio investments . during the same period , we generated $ 65.7 million from financing activities , primarily as a result of proceeds from our 2023 notes ( net of deferred financing cost payments ) and net borrowings on our revolving credit facility , partially offset by distributions to stockholders . for the year ended december 31 , 2017 , we experienced a net increase ( decrease ) in cash and restricted cash of ( $ 1.1 ) million . during the same period we used $ 69.6 million in operating activities , primarily as a result of purchases of portfolio investments , partially offset by sales of and principal repayments on portfolio investments . during the same period , we generated $ 68.4 million from financing activities , primarily as a result of net proceeds from capital raises and sba debenture borrowings , partially offset by net repayments on our revolving credit facility and distributions to stockholders . 52 story_separator_special_tag ratio of total assets ( less total liabilities other than indebtedness ) to total indebtedness of not less than 1.5 to 1 ; and ( 3 ) a senior debt coverage ratio of at least 2 to 1. the revolving

capital resources as a bdc , we distribute substantially all of our net income to our stockholders and have an ongoing need to raise additional capital for investment purposes . we intend to generate additional cash primarily from future offerings of securities , future borrowings and cash flows from operations , including income earned from investments in our portfolio companies . on both a short-term and long-term basis , our primary use of funds will be to invest in portfolio companies and make cash distributions to our stockholders . as a bdc , we are generally not permitted to issue and sell our common stock at a price below net asset value per share . we may , however , sell our common stock , or warrants , options or rights to acquire our common stock , at a price below the then-current net asset value per share of our common stock if our board , including independent directors , determines that such sale is in the best interests of us and our stockholders , and if our stockholders have approved such sales . on june 19 , 2019 , our stockholders voted to allow us to sell or otherwise issue common stock at a price below net asset value per share for a period of one year , subject to certain limitations . as of december 31 , 2019 and 2018 , we had 20,444,564 and 20,444,564 shares outstanding , respectively . on june 24 , 2015 , our stockholders approved a proposal to authorize us to issue warrants , options or rights to subscribe to , convert to , or purchase our common stock in one or more offerings . this is a standing authorization and does not require annual re-approval by our stockholders . on march 27 , 2018 , our board approved the application of the modified asset coverage requirements set forth in section 61 ( a ) ( 2 ) of the 1940 act . on june 20 , 2018 , our stockholders approved the application of the modified asset coverage requirements .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```capital resources as a bdc , we distribute substantially all of our net income to our stockholders and have an ongoing need to raise additional capital for investment purposes . we intend to generate additional cash primarily from future offerings of securities , future borrowings and cash flows from operations , including income earned from investments in our portfolio companies . on both a short-term and long-term basis , our primary use of funds will be to invest in portfolio companies and make cash distributions to our stockholders . as a bdc , we are generally not permitted to issue and sell our common stock at a price below net asset value per share . we may , however , sell our common stock , or warrants , options or rights to acquire our common stock , at a price below the then-current net asset value per share of our common stock if our board , including independent directors , determines that such sale is in the best interests of us and our stockholders , and if our stockholders have approved such sales . on june 19 , 2019 , our stockholders voted to allow us to sell or otherwise issue common stock at a price below net asset value per share for a period of one year , subject to certain limitations . as of december 31 , 2019 and 2018 , we had 20,444,564 and 20,444,564 shares outstanding , respectively . on june 24 , 2015 , our stockholders approved a proposal to authorize us to issue warrants , options or rights to subscribe to , convert to , or purchase our common stock in one or more offerings . this is a standing authorization and does not require annual re-approval by our stockholders . on march 27 , 2018 , our board approved the application of the modified asset coverage requirements set forth in section 61 ( a ) ( 2 ) of the 1940 act . on june 20 , 2018 , our stockholders approved the application of the modified asset coverage requirements .
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 Suspicious Activity Report : on march 20 , 2019 , we completed a registered direct offering of $ 40.0 million in additional aggregate principal amount of our 2023 notes . see “ 2023 notes ” below for more information . investment income we generate interest income on the debt investments in portfolio company investments that we originate or acquire . our debt investments , whether in the form of senior secured , unitranche secured or junior secured debt , typically have an initial term of three to seven years and bear interest at a fixed or floating rate . in some instances , we receive payments on our debt investment based on scheduled amortization of the outstanding balances . in addition , we receive repayments of some of our debt investments prior to their scheduled maturity date . in some cases , our investments provide for deferred interest of payment-in-kind ( “ pik ” ) interest . in addition , we may generate revenue in the form of commitment , origination , amendment , structuring or due diligence fees , fees for providing managerial assistance and consulting fees . loan origination fees , original issue discount and market discount or premium are capitalized , and we accrete or amortize such amounts as interest income . we record prepayment premiums and prepayment gains ( losses ) on loans as interest income . as the frequency or volume of the repayments which trigger these prepayment premiums and prepayment gains ( losses ) may fluctuate significantly from period to period , the associated interest income recorded may also fluctuate significantly from period to period . interest and fee income is recorded on the accrual basis to the extent we expect to collect such amounts . interest income is accrued based upon the outstanding principal amount and contractual terms of debt and preferred equity investments . interest is accrued on a daily basis . we record fees on loans based on the determination of whether the fee is considered a yield enhancement or payment for a service . if the fee is considered a yield enhancement associated with a funding of cash on a loan , the fee is generally deferred and recognized into interest income using the effective interest method if captured in the cost basis or using the straight-line method if the loan is unfunded and therefore there is no cost basis . if the fee is not considered a yield enhancement because a service was provided , and the fee is payment for that service , the fee is deemed earned and recognized as fee income in the period the service has been completed . dividend income on preferred equity securities is recorded as dividend income on an accrual basis to the extent that such amounts are payable by the portfolio company and are expected to be collected . dividend income on common equity securities is recorded on the record date for private portfolio companies . each distribution received from limited liability company ( “ llc ” ) and limited partnership ( “ lp ” ) investments is evaluated to determine if the distribution should be recorded as dividend income or a return of capital . generally , we will not record distributions from equity investments in llcs and lps as dividend income unless there are sufficient accumulated tax-basis earnings and profits in the llc or lp prior to the distribution . distributions that are classified as a return of capital are recorded as a reduction in the cost basis of the investment . the frequency and volume of the distributions on common equity securities and llc and lp investments may fluctuate significantly from period to period . 47 expenses our primary operating expenses include the payment of base management and incentive fees to mc advisors , under the investment advisory and management agreement ( the “ investment advisory agreement ” ) , the payment of fees to mc management for our allocable portion of overhead and other expenses under the administration agreement ( the “ administration agreement ” ) and other operating costs . see note 6 to our consolidated financial statements and “ related party transactions ” below for additional information on our investment advisory agreement and administration agreement . our expenses also include interest expense on our various forms of indebtedness . we bear all other out-of-pocket costs and expenses of our operations and transactions . net gain ( loss ) we recognize realized gains or losses on investments based on the difference between the net proceeds from the disposition and the cost basis of the investment without regard to unrealized gains or losses previously recognized . we record current period changes in fair value of investments , foreign currency forward contracts , secured borrowings , foreign currency and other transactions within net change in unrealized gain ( loss ) on the consolidated statements of operations . portfolio and investment activity during the year ended december 31 , 2019 , we invested $ 98.6 million in 18 new portfolio companies and $ 132.0 million in 33 existing portfolio companies and had $ 166.1 million in aggregate amount of sales and principal repayments , resulting in net investments of $ 64.5 million for the year . during the year ended december 31 , 2018 , we invested $ 112.4 million in 20 new portfolio companies and $ 128.0 million in 31 existing portfolio companies and had $ 159.2 million in aggregate amount of sales and principal repayments , resulting in net investments of $ 81.2 million for the year . during the year ended december 31 , 2017 , we invested $ 200.4 million in 27 new portfolio companies and $ 64.0 million in 31 existing portfolio companies and had $ 173.4 million in aggregate amount of sales and principal repayments , resulting in net investments of $ 91.0 million for the year . story_separator_special_tag the award was issued as “ interim ” due to the fact that the arbitrator will hear further briefing from both parties as to an allocation of attorneys ' fees , interest and certain other amounts that should be paid to rockdale in connection with the interim award . as such , the exact computation of the final amount of the award has yet to be determined and is uncertain , but is expected to resolve over the next few quarters . at this time , we believe that our share of the net proceeds from the award will exceed the cost basis of our investment due to our right to receive excess proceeds pursuant to the terms of a sharing agreement between the lenders and the estate ; however , due to the aforementioned post-trial arbitration proceedings , it is not certain that will be the case . the lenders to rockdale , including the company , will share in the proceeds of this arbitration award with the estate , once it becomes final and is paid . at this time , it is also unclear whether , or to what extent , the national insurance carrier may seek to appeal the adverse ruling against it . we believe that any such appeal is unlikely to be successful based on the appellate standard for arbitration . for the years ended december 31 , 2019 , 2018 and 2017 , our secured borrowings had zero , zero and ( $ 6 ) thousand of net change in unrealized gain ( loss ) , respectively . for the years ended december 31 , 2019 , 2018 and 2017 , our foreign currency forward contracts had ( $ 75 ) thousand , $ 16 thousand , and zero of net change in unrealized gain ( loss ) , respectively . for the years ended december 31 , 2019 , 2018 and 2017 , our foreign currency borrowings had ( $ 0.8 ) million , $ 1.0 million and ( $ 0.4 ) million of net change in unrealized gain ( loss ) , respectively . net increase ( decrease ) in net assets resulting from operations for the years ended december 31 , 2019 , 2018 and 2017 , the net increase ( decrease ) in net assets from operations was $ 19.2 million , $ 5.8 million and $ 12.2 million , respectively . based on the weighted average shares of common stock outstanding for the years ended december 31 , 2019 , 2018 and 2017 , our per share net increase ( decrease ) in net assets resulting from operations was $ 0.94 , $ 0.29 and $ 0.65 , respectively . the $ 13.4 million increase during the year ended december 31 , 2019 , is primarily the result of a comparative decrease in net mark-to-market losses on investments in the portfolio , partially offset by a decrease in net investment income . the $ 6.4 million decrease during the year ended december 31 , 2018 , is primarily the result of an increase in net losses on investments in the portfolio , partially offset by an increase in net investment income primarily due to portfolio growth and the incentive fee limitation . liquidity and capital resources as of december 31 , 2019 , we had $ 2.2 million in cash , $ 27.4 million in cash at mrcc sbic , $ 180.3 million of total debt outstanding on our revolving credit facility , $ 109.0 million in 2023 notes and $ 115.0 million in outstanding sba debentures . we had $ 74.7 million available for additional borrowings on our revolving credit facility . see “ borrowings ” below for additional information . cash flows for the year ended december 31 , 2019 , we experienced a net increase ( decrease ) in cash and restricted cash of $ 11.9 million . during the same period we used $ 39.2 million in operating activities , primarily as a result of purchases of portfolio investments , partially offset by sales of and principal repayments on portfolio investments . during the same period , we generated $ 51.2 million from financing activities , primarily as a result of net proceeds from our 2023 notes ( net of deferred financing cost payments ) and net borrowings on our revolving credit facility and 2023 notes , partially offset by distributions to stockholders . for the year ended december 31 , 2018 , we experienced a net increase ( decrease ) in cash and restricted cash of $ 10.5 million . during the same period we used $ 55.1 million in operating activities , primarily as a result of purchases of portfolio investments , partially offset by sales of and principal repayments on portfolio investments . during the same period , we generated $ 65.7 million from financing activities , primarily as a result of proceeds from our 2023 notes ( net of deferred financing cost payments ) and net borrowings on our revolving credit facility , partially offset by distributions to stockholders . for the year ended december 31 , 2017 , we experienced a net increase ( decrease ) in cash and restricted cash of ( $ 1.1 ) million . during the same period we used $ 69.6 million in operating activities , primarily as a result of purchases of portfolio investments , partially offset by sales of and principal repayments on portfolio investments . during the same period , we generated $ 68.4 million from financing activities , primarily as a result of net proceeds from capital raises and sba debenture borrowings , partially offset by net repayments on our revolving credit facility and distributions to stockholders . 52 story_separator_special_tag ratio of total assets ( less total liabilities other than indebtedness ) to total indebtedness of not less than 1.5 to 1 ; and ( 3 ) a senior debt coverage ratio of at least 2 to 1. the revolving

