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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash Flows from operating activities:    
Net loss $ (188,365) $ (2,057,588)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 25,912 7,678
Net (gains) losses realized on the sale of securities (218,013) 172,351
Unrealized (gains) losses on equity securities (63,119) 126,205
Change in fair value of funds withheld embedded derivative 483,874 138,529
Amortization of investment securities, net 134,482 100,026
Deferred acquisition costs capitalized (338,108) (591,987)
Deferred acquisition costs amortized 916,698 757,333
Value of business acquired amortized 69,315 15,227
Interest credited on deposit type contracts 1,257,102 811,403
(Increase) decrease in operating assets:    
Change in funds withheld (1,982,017) (518,388)
Investment income due and accrued (209,789) (48,980)
Reinsurance related assets (42,598) 189,532
Other assets 1,209,724 130,235
Increase (decrease) in operating liabilities:    
Policyowner benefit reserves 3,292,676 2,595,292
Dividend Accumulation 2,816 (7,833)
Advance premiums 24,868 43,706
Other liabilities 823,821 165,790
Accounts payable and accrued expenses (1,356,088) 20,541
Net cash provided by operating activities 3,843,191 2,049,072
Cash Flows from investing activities:    
Purchase of mortgage investments (2,254,095) (2,317,153)
Proceeds from mortgage repayments 1,644,799 5,223
Transfers from (to) funds withheld 200,000 (4,391,824)
Interest on policy loans 0 (8,934)
Increase in policy loans (14,820) (35,861)
Purchase of property, equipment and software (78,037) 0
Net cash used in investing activities (2,173,841) (8,892,936)
Cash Flows from financing activities:    
Receipts on deposit-type contracts 3,210,990 5,883,499
Withdrawals on deposit-type contracts (1,423,980) (1,440,545)
Proceeds from FHLB advance 0 1,000,000
Proceeds received from issuance of common stock, net of costs of issuance (98,290) (93,385)
Net cash provided by financing activities 1,688,720 5,349,569
Net increase (decrease) in cash and cash equivalents 3,358,070 (1,494,295)
Cash and Cash Equivalents:    
Beginning 4,320,759 6,678,805
Ending 7,678,829 5,184,510
Supplemental Disclosure of Non-Cash Information    
Funds withheld assumed deposits on deposit-type contracts 1,370,136 47,097,503
Funds withheld assumed withdrawals on deposit-type contracts (1,388,702) 86,229
Commissions and expense allowances deducted from funds withheld (936,355) 6,808,484
Fixed Income Investments [Member]    
Cash Flows from investing activities:    
Purchase of debt security (2,450,108) (2,496,725)
Proceeds from debt securities 1,304,582 1,928,744
Equity Securities [Member]    
Cash Flows from investing activities:    
Purchase of debt security (948,197) (5,013,668)
Proceeds from debt securities $ 422,035 $ 3,437,262