Consolidated Balance Sheet (Unaudited)


	As of
	June 30, 2018
	As previously reported		Adjustments		As restated
Assets
Investments and cash:
Available for sale securities, at fair value
Fixed maturity securities (amortized cost - $89,975,510 at	$	89,694,843	$	—	$	89,694,843
6/30/2018 and $87,773,047 at 12/31/2017)
Common stocks¹ (cost - $13,100,640 at		12,907,136		—		12,907,136
6/30/2018 and $7,631,180 at 12/31/2017)
Short-term investments, at cost which approximates fair value		—		—		—
Preferred stocks (cost - $66,675 at		65,650		—		65,650
6/30/2018 and $3,783,311 at 12/31/2017)
Other invested assets		139,200		—		139,200
Property held for investment, at cost, net of accumulated depreciation of $172,791 at 6/30/2018 and $50,948 at 12/31/2017		3,112,608		—		3,112,608
Cash and cash equivalents		4,055,577		—		4,055,577
Total investments and cash		109,975,014		—		109,975,014
Accrued investment income		668,230		—		668,230
Premiums and reinsurance balances receivable, net of allowances for		21,433,743		—		21,433,743
uncollectible amounts of $50,000 at 6/30/2018 and 12/31/2017
Ceded unearned premiums		685,736		—		685,736
Reinsurance balances recoverable on unpaid losses and settlement expenses, net of allowances for uncollectible amounts of $0 at 6/30/2018 and 12/31/2017		8,287,587		—		8,287,587
Federal income taxes		1,492,828		59,209		1,552,037
Deferred policy acquisition costs, net		5,090,527		—		5,090,527
Property and equipment, at cost, net of accumulated depreciation of		3,474,335		—		3,474,335
$4,815,812 at 6/30/2018 and $4,896,042 at 12/31/2017
Other assets		1,289,712		9,052		1,298,764
Total assets	$	152,397,712	$	68,261	$	152,465,973

Liabilities and Equity
Liabilities:
Unpaid losses and settlement expenses	$	51,387,881	$	—	$	51,387,881
Unearned premiums		29,298,437		—		29,298,437
Reinsurance balances payable		943,686		—		943,686
Corporate debt		3,489,056		—		3,489,056
Accrued expenses		2,940,084		316,000		3,256,084
Bank overdraft		—		—		—
Other liabilities		1,922,410		—		1,922,410
Total liabilities		89,981,554		316,000		90,297,554

Equity:
Common stock2		35,000		—		35,000
Additional paid-in capital		32,418,807		—		32,418,807
Accumulated other comprehensive (loss) earnings, net of tax		(375,404)		—		(375,404)
Retained earnings		33,502,434		(247,739)		33,254,695
Less: Unearned Employee Stock Ownership Plan shares at cost3		(3,164,679)		—		(3,164,679)
Total equity		62,416,158		(247,739)		62,168,419
Total liabilities and equity	$	152,397,712	$	68,261	$	152,465,973

1At June 30, 2018, common stock securities consist entirely of individual common stocks. At December 31, 2017, common stock consisted of exchange trade funds (ETF) made up primarily of Dividends Select and the S&P 500.

2Par value $0.01; authorized: 2018 - 10,000,000 shares and 2017 – 10,000,000 shares; issued: 2018 - 3,500,000 shares and 2017 – 3,500,000 shares; outstanding: 2018 - 3,183,532 and 2017 - 3,171,878 shares.

32018 –316,468 shares and 2017 – 328,122 shares

Condensed Consolidated Statements of Earnings and Comprehensive Earnings (Unaudited)


	For the Three-Months Ended
	June 30, 2018
	As previously reported		Adjustments		As restated
Net premiums earned	$	11,485,071	$	—	$	11,485,071
Net investment income		685,492		—		685,492
Net realized investment losses		(29,930)		—		(29,930)
Other-than-temporary impairment losses		—		—		—
Other (loss) income		(507)		—		(507)
Consolidated revenues		12,140,126		—		12,140,126
Losses and settlement expenses		7,790,587		—		7,790,587
Policy acquisition costs and other operating expenses		4,160,071		316,000		4,476,071
Interest expense on debt		27,621		—		27,621
General corporate expenses		133,806		—		133,806
Total expenses		12,112,085		316,000		12,428,085
Earnings (loss) before income taxes		28,041		(316,000)		(287,959)
Total income tax benefit		(11,159)		(68,261)		(79,420)
Net earnings (loss)	$	39,200	$	(247,739)	$	(208,539)

Other comprehensive (loss) earnings, net of tax		(35,396)		—		(35,396)
Comprehensive earnings	$	3,804	$	(247,739)	$	(243,935)

Earnings (loss) per share:
Basic:
Basic net earnings (loss) per share	$	0.01	$	(0.08)	$	(0.07)
Diluted:
Diluted net earnings (loss) per share	$	0.01	$	(0.08)	$	(0.07)

Weighted average number of common shares outstanding:
Basic		3,179,669		—		3,179,669
Diluted		3,180,679		—		3,180,679

Condensed Consolidated Statements of Earnings and Comprehensive Earnings (Unaudited)


	For the Six-Months Ended
	June 30, 2018
	As previously reported		Adjustments		As restated
Net premiums earned	$	22,782,015	$	—	$	22,782,015
Net investment income		1,388,376		—		1,388,376
Net realized investment losses		1,072,200		—		1,072,200
Other-than-temporary impairment losses		—		—		—
Other (loss) income		56,171		—		56,171
Consolidated revenues		25,298,762		—		25,298,762
Losses and settlement expenses		15,786,436		—		15,786,436
Policy acquisition costs and other operating expenses		8,297,422		316,000		8,613,422
Interest expense on debt		75,782		—		75,782
General corporate expenses		270,056		—		270,056
Total expenses		24,429,696		316,000		24,745,696
Earnings (loss) before income taxes		869,066		(316,000)		553,066
Total income tax benefit		154,039		(68,261)		85,778
Net earnings (loss)	$	715,027	$	(247,739)	$	467,288

Other comprehensive (loss) earnings, net of tax		(2,602,473)		—		(2,602,473)
Comprehensive earnings	$	(1,887,446)	$	(247,739)	$	(2,135,185)

Earnings (loss) per share:
Basic:
Basic net earnings (loss) per share	$	0.23	$	(0.08)	$	0.15
Diluted:
Diluted net earnings (loss) per share	$	0.23	$	(0.08)	$	0.15

Weighted average number of common shares outstanding:
Basic		3,174,324		—		3,174,324
Diluted		3,175,334		—		3,175,334

Condensed Consolidated Statements of Cash Flows (Unaudited)


	Six-Month Periods Ended June 30, 2018
	As previously reported		Adjustments		As restated
Cash flows from operating activities:
Net earnings	$	715,027	$	(247,739)	$	467,288
Adjustments to reconcile net earnings to net cash
used in operating activities
Net realized investment gains		(1,072,200)		—		(1,072,200)
Other-than-temporary impairment losses		—		—		—
Depreciation		310,857		—		310,857
Deferred income tax		(35,427)		(1,716)		(37,143)
Amortization of bond premium and discount		158,743		—		158,743
Stock-based compensation expense		202,058		—		202,058
Change in:
Accrued investment income		19,223		—		19,223
Premiums and reinsurance balances receivable, (net)		(2,420,481)		—		(2,420,481)
Ceded unearned premiums		(410,764)		—		(410,764)
Reinsurance balances payable		616,203		—		616,203
Reinsurance balances recoverable		1,742,247		—		1,742,247
Deferred policy acquisition costs		(498,112)		—		(498,112)
Unpaid losses and settlement expenses		313,755		—		313,755
Unearned premiums		2,742,855		—		2,742,855
Accrued expenses		(1,333,918)		316,000		(1,017,918)
Current federal income tax		156,800		(57,493)		99,307
Other		270,703		(9,052)		261,651
Net cash provided by (used in) operating activities		1,477,569		—		1,477,569
Cash flows from investing activities:
Purchases of:
Fixed maturity securities, available-for-sale		(9,003,061)		—		(9,003,061)
Common stocks, available-for-sale		(13,363,215)		—		(13,363,215)
Preferred stocks, available-for-sale		(140,925)		—		(140,925)
Other invested assets		(39,200)		—		(39,200)
Property held for investment		(31,673)		—		(31,673)
Property and equipment		(300,484)		—		(300,484)
Proceeds from sales, maturities and calls of:				—		—
Fixed maturity securities, available-for-sale		6,669,276		—		6,669,276
Common stocks, available-for-sale		8,834,375		—		8,834,375
Preferred stocks, available-for-sale		3,861,722		—		3,861,722
Property and equipment		64,826		—		64,826
Net cash used in investing activities		(3,448,359)		—		(3,448,359)
Cash flows from financing activities:
Net proceeds received from issuance of shares of common stock		—		—		—
Proceeds from loans		—		—		—
Repayments of borrowed funds		(850,152)		—		(850,152)
Net cash (used in) provided by financing activities		(850,152)		—		(850,152)
Net (decrease) increase in cash and cash equivalents		(2,820,942)		—		(2,820,942)
Cash and cash equivalents at beginning of year		6,876,519		—		6,876,519
Cash and cash equivalents at end of period	$	4,055,577	$	—	$	4,055,577
Supplemental information:
Federal income tax paid	$	—	$	—	$	—
Interest paid		108,336		—		108,336