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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Net loss $ 725,034 $ 963,851
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 39,015 23,727
Net (gains) losses realized on the sale of securities and net credit losses recognized in operations 170,654 (36,879)
Unrealized (gains) losses on equity securities (587,099) (356,444)
Change in fair value of embedded derivative (96,215) (497,153)
(Accretion) amortization of investment securities, net (423,851) (245,851)
Deferred acquisition costs capitalized (295,524) (250,627)
Deferred acquisition costs amortized 697,373 691,710
Value of business acquired amortized 46,210 46,210
Interest credited on deposit type contracts 1,005,893 980,230
(Increase) decrease in operating assets:    
Investment income due and accrued 301,950 (276,750)
Reinsurance related assets (1,947,442) 284,858
Deferred tax assets, net of valuation allowance 187,422 0
Other assets (353,477) (432,892)
Increase (decrease) in operating liabilities:    
Policyowner benefit reserves 2,617,295 2,018,885
Dividend accumulation 1,846 (4,451)
Advance premiums (17,513) (35,574)
Other liabilities (221,131) 140,789
Accounts payable and accrued expenses (368,679) 549,138
Net cash provided by operating activities 1,481,761 3,562,777
Cash Flows from investing activities:    
Purchase of fixed income investments (8,751,954) (4,388,722)
Purchase of equity investments (267,791) (376,548)
Purchase of mortgage investments (6,274,245) (2,844,209)
Purchase of other invested assets (80,868) (247,232)
Proceeds from fixed income sales and repayments 7,156,371 3,225,551
Proceeds from equity sales 96,428 348,298
Proceeds from mortgage repayments 5,471,789 2,192,464
Proceeds from other invested assets 5,805 0
Increase in policy loans (1,534) (2,248)
Purchase of property, equipment and software (16,187) (168,871)
Net cash provided by (used in) investing activities (2,662,186) (2,261,517)
Cash Flows from financing activities:    
Receipts on deposit-type contracts 4,021,366 3,269,039
Withdrawals on deposit-type contracts (4,585,326) (4,773,289)
Proceeds received from issuance of common stock, net of costs of issuance 0 9,232
Net cash provided by (used in) financing activities (563,960) (1,495,018)
Net increase (decrease) in cash and cash equivalents (1,744,385) (193,758)
Cash and Cash Equivalents:    
Beginning 8,982,138 4,091,507
Ending $ 7,237,753 $ 3,897,749