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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Net income $ 13,957 $ 275,451
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 19,381 11,862
Net (gains) losses realized on the sale of securities and net credit losses recognized in operations 35,898 (198,310)
Unrealized (gains) losses on equity securities (96,321) (246,126)
Change in fair value of embedded derivative (79,929) 97,334
(Accretion) amortization of investment securities, net (112,213) (127,339)
Deferred acquisition costs capitalized (124,726) (131,820)
Deferred acquisition costs amortized 362,810 367,122
Value of business acquired amortized 23,105 23,105
Interest credited on deposit type contracts 454,517 431,983
(Increase) decrease in operating assets:    
Investment income due and accrued (159,459) (102,904)
Reinsurance related assets 417,581 (165,228)
Other assets 41,104 13,729
Increase (decrease) in operating liabilities:    
Policyowner benefit reserves 1,145,795 1,052,734
Dividend accumulation 919 975
Advance premiums 19,340 (3,583)
Other liabilities 144,098 35,839
Accounts payable and accrued expenses 279,586 927,004
Net cash provided by operating activities 2,385,443 2,261,828
Cash Flows from investing activities:    
Purchase of fixed income investments (2,507,233) (1,088,214)
Purchase of equity investments (101,406) (1,308)
Purchase of mortgage investments (252,642) (1,673,256)
Purchase of other invested assets (26,320) (120,091)
Proceeds from fixed income sales and repayments 2,277,763 1,689,780
Proceeds from equity sales 96,428 44,835
Proceeds from mortgage repayments 1,200,925 1,503
Proceeds from other invested assets 5,440 0
Increase in policy loans (623) (767)
Purchase of property, equipment and software (11,127) (36,353)
Net cash provided by (used in) investing activities 681,205 (1,183,871)
Cash Flows from financing activities:    
Receipts on deposit-type contracts 2,119,530 1,518,509
Withdrawals on deposit-type contracts (3,024,646) (2,643,963)
Net cash used in financing activities (905,116) (1,125,454)
Net increase (decrease) in cash and cash equivalents 2,161,532 (47,497)
Cash and Cash Equivalents:    
Beginning 8,982,138 4,091,507
Ending $ 11,143,670 $ 4,044,010