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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash Flows from Operating Activities:    
Net income (loss) $ 383,532 $ (783,473)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 7,678 26,606
Net realized losses on the sale of securities 13,985 327
Unrealized gain on equity securities (951,575) 0
Amortization of investment securities, net 27,664 42,394
Deferred acquisition costs capitalized (254,723) (216,426)
Deferred acquisition costs amortized 293,033 313,860
Value of business acquired amortized 15,228 15,228
Interest credited on deposit type contracts 495,623 409,794
(Increase) decrease in operating assets:    
Investment income due and accrued (19,453) (50,768)
Reinsurance related assets (12,981) 80,953
Other assets 6,687 65,573
Increase (decrease) in operating liabilities:    
Policyowner benefit reserves 2,045,227 2,140,629
Dividend Accumulation (49,481)
Advance premiums 39,972 37,426
Other liabilities (11,117) 5,929
Accounts payable and accrued expenses (207,403) (9,031)
Net cash provided by operating activities 1,821,896 2,079,021
Cash Flows from Investing Activities:    
Purchase of fixed income investments (1,230,636) (2,756,884)
Purchase of equity investments (179,496) (1,055,592)
Proceeds from fixed income sales and repayments 528,750 248,077
Proceeds from equity sales and repayments 268,101
Interest on policy loans (675) (1,842)
Increase in policy loans (11,560) (6,619)
Purchase of property, equipment and software (5,334)
Net cash used in investing activities (625,516) (3,578,194)
Cash Flows from Financing Activities:    
Receipts on deposit-type contracts 2,779,027 2,969,466
Withdrawals on deposit-type contracts (1,180,666) (1,155,056)
Proceeds received from issuance of common stock, net of costs of issuance 273,152 1,014,783
Net cash provided by financing activities 1,871,513 2,829,193
Net increase in cash and cash equivalents 3,067,893 1,330,020
Cash and Cash Equivalents:    
Beginning 2,077,646 651,809
Ending $ 5,145,539 $ 1,981,829