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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net (loss) earnings $ (3,659,167) $ 2,148,870
Adjustments to reconcile net (loss) earnings to net cash (used in) provided by operating activities    
Net realized investment gains (785,600) (824,070)
Net unrealized losses (gains) on equity securities 6,181,492 (1,392,999)
Depreciation 555,853 485,688
Deferred income tax (1,516,967) 218,885
Amortization of bond premium and discount 156,310 209,740
Stock-based compensation expense 443,795 408,220
Change in:    
Accrued investment income (117,483) (52,792)
Premiums and reinsurance balances receivable (3,120,848) (2,656,012)
Ceded unearned premiums (10,261) (96,603)
Reinsurance balances payable (140,581) 804,998
Reinsurance balances recoverable (247,018) (1,456,368)
Deferred policy acquisition costs (663,641) (854,536)
Unpaid losses and settlement expenses 6,795,641 (285,054)
Unearned premiums 3,981,518 5,132,116
Accrued expenses (227,905) 773,976
Current federal income tax (51,091) 268,235
Other 776,736 (188,107)
Net cash provided by operating activities 8,350,783 2,644,187
Cash flows from investing activities:    
Fixed maturity securities (15,502,187) (17,102,938)
Other invested assets (1,698,503) (350,000)
Property held for investment (723,619) (1,630,760)
Property and equipment (620,441) (647,962)
Proceeds from sales, maturities and calls of:    
Fixed maturity securities 13,800,029 11,921,877
Other invested assets 227,482 304,987
Property held for investment 278,679 1,470,533
Property and equipment 17,064 44,963
Net cash used in investing activities (3,752,573) (11,492,590)
Cash flows from financing activities:    
Proceeds from loans 5,000,000 9,000,000
Repayments of borrowed funds (8,455,342) (4,007,552)
Purchase of treasury stock (2,469,237) (103,407)
Net cash (used in) provided by financing activities (5,924,580) 4,889,041
Net decrease in cash and cash equivalents (1,326,370) (3,959,362)
Cash and cash equivalents at beginning of year 4,606,378 6,598,842
Cash and cash equivalents at end of period 3,280,008 2,639,480
Supplemental information:    
Federal income tax paid 160,000 65,000
Interest paid 144,300 170,100
Common Stock [Member]    
Cash flows from investing activities:    
Equity securities (2,945,823) (8,119,260)
Proceeds from sales, maturities and calls of:    
Equity securities 3,976,938 2,734,181
Preferred Stock [Member]    
Cash flows from investing activities:    
Equity securities (1,208,744) (458,734)
Proceeds from sales, maturities and calls of:    
Equity securities $ 646,552 $ 340,523