XML 24 R6.htm IDEA: XBRL DOCUMENT v3.2.0.727
Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash Flows from Operating Activities:    
Net Income $ (284,404) $ 861,789
Adjustments to reconcile net income to net cash from operations    
Depreciation and amortization 234,345 277,935
Bond amortization, net (9,054) (1,195)
Non-cash stock based compensation 11,552 11,552
Net receivables and accrued investment income (952,580) (805,905)
Reinsurance recoverable (462,692) (124,690)
Deferred policy acquisition costs (387,191) (161,724)
Other assets (111,974) 295,879
Unpaid losses and loss adjustment expenses (164,846) 270,451
Unearned premium 1,716,663 886,701
Advance premium and premium deposits 133,077 (6,372)
Accrued expenses and other liabilities (446,737) 31,748
Income taxes current/deferred (128,377) (82,388)
Net Cash Provided (Used) by Operating Activities (852,218) 1,453,781
Investing Activities    
Purchase of fixed maturity investments (21,323,858) (100,000)
Proceeds from maturity of fixed maturity investments 1,949,000 400,000
Net decrease (increase) in short-term investments 20,647,434 (1,712,301)
Additions to property and equipment (339,919) (313,806)
Net Cash Provided (Used) by Investing Activities 932,657 (1,726,107)
Financing Activities    
Repurchase of common stock (23,490) 0
Net Cash Provided (Used) by Financing Activities (23,490) 0
Net increase (decrease) in cash 56,949 (272,326)
Cash at beginning of period 309,162 376,388
Cash at End of Period 366,111 104,062
Cash paid during the period for:    
Interest 0 0
Income taxes $ 8,900 $ 533,800