XML 17 R6.htm IDEA: XBRL DOCUMENT v3.7.0.1
Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash Flows from Operating Activities:    
Net Loss $ (2,147,252) $ (198,987)
Adjustments to reconcile net income to net cash from operations    
Depreciation and amortization 132,269 115,283
Bond amortization, net (2,828) (4,284)
Non-cash stock based compensation 5,776 5,776
Bad debt expense 13,352 39
Changes in assets and liabilities:    
Net receivables and accrued investment income (292,054) (276,402)
Reinsurance recoverable (261,709) (871,392)
Deferred policy acquisition costs 11,553 (87,944)
Other assets 375,717 538,725
Unpaid losses and loss adjustment expenses 2,834,262 917,713
Unearned premium 22,542 134,489
Advance premium and premium deposits 169,325 281,492
Accrued expenses and other liabilities (141,236) 206,124
Income taxes current/deferred (1,118,132) (68,840)
Net Cash Provided (Used) by Operating Activities (398,415) 691,792
Cash Flows from Investing Activities:    
Purchase of fixed maturity investments (100,000) (200,000)
Proceeds from maturity of fixed maturity investments 12,238,000 1,046,000
Net decrease (increase) in short-term investments (11,598,094) 4,351,412
Additions to property and equipment (35,752) (351,777)
Net Cash Provided (Used) by Investing Activities 504,154 4,845,635
Cash Flows from Financing Activities:    
Repurchase of common stock 0 (89,582)
Net Cash Provided (Used) by Financing Activities 0 (89,582)
Net increase (decrease) in cash and restricted cash 105,739 5,447,845
Cash and restricted cash at beginning of period 13,496,379 8,258,673
Cash and Restricted Cash at End of Period 13,602,118 13,706,518
Cash paid during the period for:    
Interest 0 0
Income taxes $ 0 $ 0