XML 17 R6.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net earnings $ 2,239,205 $ 1,578,545
Adjustments to reconcile net earnings to net cash provided by operating activities    
Net realized investment (gains) losses (150,686) 75,565
Net unrealized gains on investments (1,273,890) (639,418)
Depreciation 199,686 173,491
Deferred income tax 194,829 267,226
Amortization of bond premium and discount (18,871) 29,821
Stock-based compensation expense 149,424 142,794
Change in:    
Accrued investment income (47,086) 509
Premiums and reinsurance balances receivable 769,731 (506,948)
Ceded unearned premiums 30,927 143,200
Reinsurance balances recoverable (1,002,320) (843,357)
Deferred policy acquisition costs (91,079) (565,515)
Unpaid losses and settlement expenses 5,731,401 5,252,537
Unearned premiums 190,711 568,115
Reinsurance balances payable (468,415) (1,123,875)
Accrued expenses (1,659,134) (1,949,578)
Current federal income tax 364,293 124,565
Other (93,842) (386,200)
Net cash provided by operating activities 5,064,884 2,341,477
Cash flows from investing activities:    
Fixed maturity securities (3,259,172) (5,960,521)
Other invested assets 0 (360,000)
Property held for investment (250,201) (358,210)
Property and equipment (192,156) (160,191)
Proceeds from sales, maturities and calls of:    
Fixed maturity securities 4,294,521 3,830,441
Other invested assets 75,458 8,557
Property and equipment 101 33
Net cash provided by (used in) investing activities 550,635 (3,012,834)
Cash flows from financing activities:    
Purchase of treasury stock (66,655) (46,334)
Net cash used in financing activities (66,655) (46,334)
Net increase (decrease) in cash and cash equivalents 5,548,864 (717,691)
Cash and cash equivalents at beginning of year 1,478,135 3,139,986
Cash and cash equivalents at end of period 7,026,999 2,422,295
Supplemental information:    
Interest paid 45,900 39,500
Common Stock [Member]    
Cash flows from investing activities:    
Equity securities (826,741) (807,926)
Proceeds from sales, maturities and calls of:    
Equity securities 705,443 778,071
Preferred Stock [Member]    
Cash flows from investing activities:    
Equity securities (242,131) (78,716)
Proceeds from sales, maturities and calls of:    
Equity securities $ 245,513 $ 95,628