XML 18 R7.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash Flows from Operating Activities:    
Net loss $ (579,586) $ (514,447)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 17,610 17,169
Net realized gains on the sale of securities 327 (208,502)
Amortization of investment securities, net 27,965 16,468
Deferred acquisition costs capitalized (155,219) (144,069)
Deferred acquisition costs amortized 210,614 84,225
Value of business acquired amortized 10,152
Interest credited on deposit type contracts 260,441 63,607
(Increase) decrease in operating assets:    
Investment income due and accrued (28,758) (6,101)
Reinsurance related assets 68,767 (226)
Other assets 34,070 (249,929)
Increase (decrease) in operating liabilities:    
Policyowner benefit reserves 1,523,496 797,659
Advance premiums 20,920 66,399
Other liabilities 12,383 (2,320)
Accounts payable and accrued expenses (2,355) 73,984
Net cash provided by (used in) operating activities 1,420,827 (6,083)
Cash Flows from Investing Activities:    
Purchase of fixed income investments (1,758,337) (2,100,968)
Purchase of equity investments (768,944) (3,124,648)
Proceeds from fixed income sales and repayments 183,226 1,532,509
Proceeds from equity sales and repayments 1,299,640
Interest on policy loans (1,156)
Increase in policy loans (13,801)
Purchase of property, equipment and software (5,334) (6,000)
Net cash used in investing activities (2,364,346) (2,399,467)
Cash Flows from Financing Activities:    
Receipts on deposit-type contracts 2,197,360 1,000,563
Withdrawals on deposit-type contracts (756,764) (271,319)
Proceeds received from issuance of common stock, net of costs of issuance 719,005 259,418
Net cash provided by financing activities 2,159,601 988,662
Net increase (decrease) in cash and cash equivalents 1,216,082 (1,416,888)
Cash and Cash Equivalents:    
Beginning 651,809 3,145,745
Ending $ 1,867,891 $ 1,728,857