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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash Flows from Operating Activities:    
Net income (loss) $ (2,703,371) $ 375,868
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 2,559 2,559
Net realized (gains) losses on the sale of securities 218,953
Unrealized (gains) losses on equity securities 1,151,808 (727,203)
Amortization of investment securities, net 20,201 11,881
Deferred acquisition costs capitalized (1,796,373) (74,961)
Deferred acquisition costs amortized 575,210 62,902
Value of business acquired amortized 5,076 5,076
Interest credited on deposit type contracts 194,549 160,494
(Increase) decrease in operating assets:    
Investment income due and accrued (33,166) (24,508)
Reinsurance related assets (13,594,413) 60,531
Other assets (44,238) 17,033
Increase (decrease) in operating liabilities:    
Policyowner benefit reserves 989,476 631,551
Dividend Accumulation (2,022) (9,519)
Advance premiums 11,853 (6,587)
Other liabilities 82,893 (3,279)
Accounts payable and accrued expenses 40,416 12,463
Net cash provided by (used in) operating activities (14,880,589) 494,301
Cash Flows from Investing Activities:    
Purchase of fixed income investments (876,333) (615,289)
Purchase of equity investments (2,974,768) (173,630)
Proceeds from fixed income sales and repayments 523,611 52,582
Proceeds from equity sales and repayments 2,965,665
Interest on policy loans (2,477) (674)
Increase in policy loans (20,243) (222)
Net cash used in investing activities (384,545) (737,233)
Cash Flows from Financing Activities:    
Receipts on deposit-type contracts 16,468,780 965,438
Withdrawals on deposit-type contracts (650,221) (471,668)
Proceeds from FHLB advance
Proceeds received from issuance of common stock, net of costs of issuance (4,693) 156,890
Net cash provided by financing activities 15,813,866 650,660
Net increase in cash and cash equivalents 548,732 407,728
Cash and Cash Equivalents:    
Beginning 6,678,805 2,077,646
Ending $ 7,227,537 $ 2,485,374