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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net earnings (loss) $ 1,396,071 $ (3,659,167)
Adjustments to reconcile net earnings (loss) to net cash provided by (used in) operating activities    
Net realized investment gains (268,375) (785,600)
Net unrealized (gains) losses on equity securities (279,100) 6,181,492
Depreciation 541,656 555,853
Deferred income tax (144,279) (1,516,967)
Amortization of bond premium and discount 57,647 156,310
Stock-based compensation expense 452,165 443,795
Change in:    
Accrued investment income (120,242) (117,483)
Premiums and reinsurance balances receivable (4,455,472) (3,120,848)
Ceded unearned premiums 201,137 (10,261)
Reinsurance balances recoverable (2,837,908) (247,018)
Deferred policy acquisition costs (1,180,463) (663,641)
Unpaid losses and settlement expenses 12,928,415 6,795,641
Unearned premiums 5,439,877 3,981,518
Reinsurance balances payable (369,510) (140,581)
Accrued expenses (56,038) (227,905)
Current federal income tax (323,761) (51,091)
Other (359,595) 776,736
Net cash provided by operating activities 10,622,225 8,350,783
Cash flows from investing activities:    
Fixed maturity securities (18,181,637) (15,502,187)
Other invested assets (3,346,778) (1,698,503)
Property held for investment (1,138,302) (723,619)
Property and equipment (462,729) (620,441)
Proceeds from sales, maturities and calls of:    
Fixed maturity securities 9,785,891 13,800,029
Other invested assets 354,276 227,482
Property held for investment 1,545,977 278,679
Property and equipment 17,789 17,064
Net cash used in investing activities (10,700,926) (3,752,573)
Cash flows from financing activities:    
Proceeds from loans 0 5,000,000
Repayments of borrowed funds 0 (8,455,342)
Purchase of treasury stock (395,727) (2,469,237)
Net cash used in financing activities (395,727) (5,924,580)
Net decrease in cash and cash equivalents (474,428) (1,326,370)
Cash and cash equivalents at beginning of year 3,139,986 4,606,378
Cash and cash equivalents at end of period 2,665,558 3,280,008
Supplemental information:    
Federal income tax paid 180,000 160,000
Interest paid 132,400 144,300
Common Stock [Member]    
Cash flows from investing activities:    
Equity securities (3,158,620) (2,945,823)
Proceeds from sales, maturities and calls of:    
Equity securities 3,831,416 3,976,938
Preferred Stock [Member]    
Cash flows from investing activities:    
Equity securities (285,649) (1,208,744)
Proceeds from sales, maturities and calls of:    
Equity securities $ 337,440 $ 646,552