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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash Flows from Operating Activities:    
Net income (loss) $ 341,086 $ (579,586)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 5,118 17,610
Net realized losses on the sale of securities 14,528 327
Unrealized gain on equity securities (845,817) 0
Amortization of investment securities, net 17,055 27,965
Deferred acquisition costs capitalized (176,056) (155,219)
Deferred acquisition costs amortized 180,727 210,614
Value of business acquired amortized 10,152 10,152
Interest credited on deposit type contracts 328,583 260,441
(Increase) decrease in operating assets:    
Investment income due and accrued 1,237 (28,758)
Reinsurance related assets (19,513) 68,767
Other assets (10,830) 34,070
Increase (decrease) in operating liabilities:    
Policyowner benefit reserves 1,474,338 1,523,496
Dividend Accumulation (8,180)
Advance premiums 16,590 20,920
Other liabilities (14,533) 12,383
Accounts payable and accrued expenses (143,134) (2,355)
Net cash provided by operating activities 1,171,351 1,420,827
Cash Flows from Investing Activities:    
Purchase of fixed income investments (984,288) (1,758,337)
Purchase of equity investments (179,039) (768,944)
Proceeds from fixed income sales and repayments 393,163 183,226
Proceeds from equity sales and repayments 268,101
Interest on policy loans (723) (1,156)
Decrease (increase) in policy loans 179 (13,801)
Purchase of property, equipment and software (5,334)
Net cash used in investing activities (502,607) (2,364,346)
Cash Flows from Financing Activities:    
Receipts on deposit-type contracts 1,921,482 2,197,360
Withdrawals on deposit-type contracts (882,725) (756,764)
Proceeds received from issuance of common stock, net of costs of issuance 157,903 719,005
Net cash provided by financing activities 1,196,660 2,159,601
Net increase in cash and cash equivalents 1,865,404 1,216,082
Cash and Cash Equivalents:    
Beginning 2,077,646 651,809
Ending $ 3,943,050 $ 1,867,891