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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Net loss $ (2,722,676) $ (121,514)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 22,407 16,628
Net (gains) losses realized on the sale of securities (623) (215,613)
Unrealized (gains) losses on equity securities 1,463,629 (103,297)
Change in fair value of funds withheld embedded derivative 691,300 245,120
Amortization of investment securities, net 82,645 88,887
Deferred acquisition costs capitalized (229,519) (215,483)
Deferred acquisition costs amortized 581,904 554,865
Value of business acquired amortized 46,210 46,210
Interest credited on deposit type contracts 832,549 911,256
(Increase) decrease in operating assets:    
Change in funds withheld (1,055,238) (1,197,116)
Investment income due and accrued 130,530 (147,457)
Reinsurance related assets (647,898) (102,892)
Other assets (232,267) 824,443
Increase (decrease) in operating liabilities:    
Policyowner benefit reserves 2,153,260 2,331,913
Dividend accumulation 1,499 1,872
Advance premiums 1,582 (2,073)
Other liabilities 647,582 703,212
Accounts payable and accrued expenses (465,607) (1,372,153)
Net cash provided by operating activities 1,301,269 2,246,808
Cash Flows from investing activities:    
Purchase of equity investments (937,554) (598,398)
Purchase of mortgage investments (3,494,797) (1,013,404)
Proceeds from equity sales 422,909 422,035
Proceeds from mortgage repayments 3,084,662 1,482,567
Transfers from funds withheld 0 300,000
(Increase) decrease in policy loans 123,696 (63)
Purchase of property, equipment and software (56,401) (31,276)
Net cash provided by (used in) investing activities (1,127,725) 654,180
Cash Flows from financing activities:    
Receipts on deposit-type contracts 3,365,026 2,124,176
Withdrawals on deposit-type contracts (1,028,046) (1,083,954)
Repayment of FHLB advance (1,000,000) 0
Proceeds received from issuance of common stock, net of costs of issuance 6,973 (64,738)
Net cash provided by financing activities 1,343,953 975,484
Net increase in cash and cash equivalents 1,517,497 3,876,472
Cash and Cash Equivalents:    
Beginning 7,955,348 4,320,759
Ending 9,472,845 8,197,231
Supplemental Disclosure of Non-Cash Information    
Funds withheld assumed deposits on deposit-type contracts 601,270 1,409,036
Funds withheld assumed withdrawals on deposit-type contracts (569,616) (889,113)
Commissions and expense allowances deducted from funds withheld (950,700) (923,920)
Fixed Income Investments [Member]    
Cash Flows from investing activities:    
Purchase of fixed income investments (933,183) (913,512)
Proceeds from fixed income sales and repayments $ 662,943 $ 1,006,231