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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2022
Dec. 31, 2021
Investments    
Available-for-sale: Fixed maturities, at fair value (amortized cost: $67,255,856 at March 31, 2022, and $71,218,405 at December 31, 2021) $ 65,844,664 $ 72,413,405
Held-to-maturity: Fixed maturities, at amortized cost (fair value: $300,000 at March 31, 2022, and $300,000 at December 31, 2021) 300,000 300,000
Equity securities, at fair value (cost: $3,613,060 at March 31, 2022, and $3,532,026 at December 31, 2021) 4,030,888 4,131,153
Short?term investments, at fair value 1,051,230 1,154,750
Total investments 71,226,782 77,999,308
Cash, cash equivalents, and restricted cash (restricted cash of $869,526 at March 31, 2022, and $381,942 at December 31, 2021) 9,471,871 15,626,651
Accrued investment income 397,864 369,928
Receivables, net 437,239 1,204,013
Reinsurance recoverable:    
Paid losses and loss adjustment expenses 1,663,273 911,566
Unpaid losses and loss adjustment expenses 26,431,307 27,116,043
Deferred policy acquisition costs 0 986,806
Property and equipment, net 1,961,021 2,154,520
Other assets 518,726 502,095
Total assets 112,108,083 126,870,930
LIABILITIES    
Paid losses and loss adjustment expenses 82,257,992 82,492,674
Unearned premium 6,779,810 14,331,273
Advance premium and premium deposits 104,018 102,846
Accrued expenses and other liabilities 1,343,222 2,266,237
Total liabilities 90,485,042 99,193,030
STOCKHOLDERS' EQUITY    
Common stock, no par value - authorized 10,000,000 shares: 5,304,863 shares , issued and outstanding, respectively. 3,798,141 3,783,346
Accumulated other comprehensive (loss) income (1,114,842) 944,050
Retained earnings 18,939,742 22,950,504
Total stockholders' equity 21,623,041 27,677,900
Total liabilities and stockholders' equity $ 112,108,083 $ 126,870,930