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Consolidated Statements of Operations - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
REVENUES        
Net premium earned $ 7,362,945 $ 8,220,150 $ 15,044,572 $ 16,140,849
Investment income 452,508 263,988 897,209 476,174
Net realized investments gains 137 155 137 155
Other income 112,199 67,261 167,889 135,473
Total Insurance Company Operation 7,927,789 8,551,554 16,109,807 16,752,651
Gross commissions and fees 671,449 671,453 1,278,106 1,412,628
Investment income 98 70 195 119
Finance charges and fees earned 34,380 18,180 52,476 36,341
Other income 9,736 49 9,757 64
Total Revenues 8,643,452 9,241,306 17,450,341 18,201,803
EXPENSES        
Losses and loss adjustment expenses 4,929,203 5,908,674 12,730,960 14,433,855
Policy acquisition costs 1,515,476 1,591,503 3,136,981 3,089,137
Salaries and employee benefits 1,126,503 1,964,725 2,414,580 3,313,368
Commissions to agents/brokers 40,541 44,994 81,880 86,883
Other operating expenses 744,697 1,082,236 1,610,840 1,896,735
Total Expenses 8,356,420 10,592,132 19,975,241 22,819,978
Income (Loss) Before Income Taxes 287,032 (1,350,826) (2,524,900) (4,618,175)
Income Tax Expense (Benefit) 118,735 (460,091) (485,945) (1,580,188)
Net Income (Loss) $ 168,297 $ (890,735) $ (2,038,955) $ (3,037,987)
Basic        
Earnings (loss) per share $ 0.03 $ (0.17) $ (0.38) $ (0.57)
Weighted average shares 5,307,133 5,307,133 5,307,133 5,307,133
Diluted        
Earnings (loss) per share $ 0.03 $ (0.17) $ (0.38) $ (0.57)
Weighted average shares 5,307,133 5,307,133 5,307,133 5,307,133