XML 15 R4.htm IDEA: XBRL DOCUMENT v3.7.0.1
Consolidated Statements of Operations - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
REVENUES        
Net premium earned $ 8,220,150 $ 7,717,951 $ 16,140,849 $ 15,290,366
Investment income 263,988 212,344 476,174 424,344
Net realized investments gain (losses) 155 0 155 (1,278)
Other income 67,261 67,684 135,473 135,278
Total Insurance Company Operation 8,551,554 7,997,979 16,752,651 15,848,710
Gross commissions and fees 671,453 708,939 1,412,628 1,366,184
Investment income 70 106 119 197
Finance fees earned 18,180 15,608 36,341 32,217
Other income 49 0 64 5,002
Total Revenues 9,241,306 8,722,632 18,201,803 17,252,310
EXPENSES        
Losses and loss adjustment expenses 5,908,674 4,858,757 14,433,855 9,944,251
Policy acquisition costs 1,591,503 1,701,091 3,089,137 3,400,751
Salaries and employee benefits 1,964,725 1,279,849 3,313,368 2,661,433
Commissions to agents/brokers 44,994 40,636 86,883 81,055
Other operating expenses 1,082,236 633,705 1,896,735 1,226,252
Total Expenses 10,592,132 8,514,038 22,819,978 17,313,742
Income (loss) before income taxes (1,350,826) 208,594 (4,618,175) (61,432)
Income Tax Expense (Benefit) (460,091) 57,564 (1,580,188) (13,475)
Net Income (Loss) $ (890,735) $ 151,030 $ (3,037,987) $ (47,957)
Basic        
Earnings (loss) per share $ (.17) $ .03 $ (.57) $ (0.01)
Weighted average shares 5,307,133 5,307,133 5,307,133 5,308,255
Diluted        
Earnings (loss) per share $ (.17) $ .03 $ (.57) $ (.01)
Weighted average shares 5,307,133 5,308,501 5,307,133 5,308,255