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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 12 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Dec. 31, 2020
Cash Flows from operating activities:      
Net loss $ (336,217) $ (2,703,371)  
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:      
Depreciation and amortization 7,344 2,559  
Net (gains) losses realized on the sale of securities (52,397) 218,953  
Unrealized (gains) losses on equity securities (32,918) 1,151,808  
Change in fair value of funds withheld embedded derivative 202,647
Amortization of investment securities, net 44,015 20,201  
Deferred acquisition costs capitalized (97,971) (1,796,373)  
Deferred acquisition costs amortized 270,057 575,210  
Value of business acquired amortized 23,105 5,076  
Interest credited on deposit type contracts 373,779 194,549  
(Increase) decrease in operating assets:      
Change in funds withheld (584,526)  
Investment income due and accrued (50,084) (33,166)  
Reinsurance related assets 48,813 (70,088)  
Other assets 1,120,029 (44,238)  
Increase (decrease) in operating liabilities:      
Policyowner benefit reserves 1,176,713 989,476  
Dividend accumulation 929 (2,022)  
Advance premiums 89,741 11,853  
Other liabilities 9,632 82,893  
Accounts payable and accrued expenses (1,365,104) 40,416  
Net cash provided by (used in) operating activities 847,587 (1,356,264)  
Cash Flows from investing activities:      
Purchase of fixed income investments (876,333)  
Purchase of equity investments (139,813) (2,974,768)  
Purchase of mortgage investments (391,388)  
Proceeds from fixed income sales and repayments 183,632 523,611  
Proceeds from equity sales 52,469 2,965,665  
Proceeds from mortgage repayments 124,086  
Transfers from (to) funds withheld 300,000  
Interest on policy loans (2,477)  
Increase in policy loans (2,978) (20,243)  
Net cash provided by (used in) investing activities 126,008 (384,545)  
Cash Flows from financing activities:      
Receipts on deposit-type contracts 972,879 2,944,455  
Withdrawals on deposit-type contracts (606,835) (650,221)  
Proceeds received from issuance of common stock, net of costs of issuance (39,954) (4,693)  
Net cash provided by financing activities 326,090 2,289,541  
Net increase in cash and cash equivalents 1,299,685 548,732  
Cash and Cash Equivalents:      
Beginning 4,320,759 6,678,805 6,678,805
Ending 5,620,444 7,227,537 $ 4,320,759
Supplemental Disclosure of Non-Cash Information      
Funds withheld assumed deposits on deposit-type contracts 681,594,000  
Funds withheld assumed withdrawals on deposit-type contracts (155,649,000)  
Commissions and expense allowances deducted from funds withheld (276,279,000)  
Reinsurer [Member]      
Supplemental Disclosure of Non-Cash Information      
Assumed deposit-type deposits due from reinsurer $ 13,524,325,000