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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Net income (loss) $ 275,451 $ (1,147,431)
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 11,862 10,543
Net (gains) losses realized on the sale of securities and net credit losses recognized in operations (198,310) 641
Unrealized (gains) losses on equity securities (246,126) 449,795
Change in fair value of embedded derivative 97,334 282,217
(Accretion) amortization of investment securities, net (127,339) 43,567
Deferred acquisition costs capitalized (131,820) (108,618)
Deferred acquisition costs amortized 367,122 275,698
Value of business acquired amortized 23,105 23,105
Interest credited on deposit type contracts 431,983 304,017
(Increase) decrease in operating assets:    
Change in funds withheld 0 (454,194)
Investment income due and accrued (102,904) 184,610
Reinsurance related assets (165,228) 8,627
Other assets 13,729 166,827
Increase (decrease) in operating liabilities:    
Policyowner benefit reserves 1,052,734 1,213,223
Dividend accumulation 975 548
Advance premiums (3,583) 30,829
Other liabilities 35,839 11,493
Accounts payable and accrued expenses 927,004 11,612
Net cash provided by operating activities 2,261,828 1,307,109
Cash Flows from investing activities:    
Purchase of equity investments (1,308) (843,310)
Purchase of mortgage investments (1,673,256) (2,101,335)
Purchase of other invested assets (120,091) 0
Proceeds from equity sales 44,835 309,668
Proceeds from mortgage repayments 1,503 2,528,264
Increase in policy loans (767) (40,629)
Purchase of property, equipment and software (36,353) (3,602)
Net cash used in investing activities (1,183,871) (405,655)
Cash Flows from financing activities:    
Receipts on deposit-type contracts 1,518,509 1,129,420
Withdrawals on deposit-type contracts (2,643,963) (567,239)
Proceeds received from issuance of common stock, net of costs of issuance 0 7,171
Net cash provided by (used in) financing activities (1,125,454) 569,352
Net increase (decrease) in cash and cash equivalents (47,497) 1,470,806
Cash and Cash Equivalents:    
Beginning 4,091,507 7,955,348
Ending 4,044,010 9,426,154
Supplemental Disclosure of Non-Cash Information    
Funds withheld assumed deposits on deposit-type contracts 0 379,827
Funds withheld assumed withdrawals on deposit-type contracts 0 (260,972)
Commissions and expense allowances deducted from funds withheld 0 (277,439)
Fixed Income Investments [Member]    
Cash Flows from investing activities:    
Purchase of fixed income investments (1,088,214) (459,249)
Proceeds from fixed income sales and repayments $ 1,689,780 $ 204,538