XML 17 R6.htm IDEA: XBRL DOCUMENT v3.19.2
Condensed Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities:    
Net earnings $ 730,839 $ 467,288
Adjustments to reconcile net earnings to net cash provided by operating activities    
Net realized investment gains (599,642) (1,072,200)
Net unrealized gains on equity securities (1,723,727)  
Depreciation 401,419 310,857
Deferred income tax 406,991 (37,143)
Amortization of bond premium and discount 113,242 158,743
Stock-based compensation expense 210,172 202,058
Change in:    
Accrued investment income 20,634 19,223
Premiums and reinsurance balances receivable (998,495) (2,420,481)
Ceded unearned premiums (47,584) (410,764)
Reinsurance balances payable (560,369) 616,203
Reinsurance balances recoverable (7,238,050) 1,742,247
Deferred policy acquisition costs (245,200) (498,112)
Unpaid losses and settlement expenses 9,816,461 313,755
Unearned premiums 1,339,650 2,742,855
Accrued expenses (1,277,407) (1,017,918)
Current federal income tax (51,929) 99,307
Other (281,986) 261,651
Net cash provided by operating activities 15,019 1,477,569
Purchases of:    
Fixed maturity securities, available-for-sale (12,689,731) (9,003,061)
Other invested assets (113,300) (39,200)
Property held for investment (167,850) (31,673)
Property and equipment (202,250) (300,484)
Proceeds from sales, maturities and calls of:    
Fixed maturity securities, available-for-sale 13,750,473 6,669,276
Property and equipment 5,268 64,826
Net cash provided by (used in) investing activities 1,437,729 (3,448,359)
Cash flows from financing activities:    
Repayments of borrowed funds (2,787) (850,152)
Purchase of common stock (49,130)  
Net cash used in financing activities (51,917) (850,152)
Net increase (decrease) in cash and cash equivalents 1,400,831 (2,820,942)
Cash and cash equivalents at beginning of year 4,644,784 6,876,519
Cash and cash equivalents at end of period 6,045,615 4,055,577
Supplemental information:    
Federal income tax recovered 164,543  
Interest paid 31,800 108,336
Common Stocks [Member]    
Purchases of:    
Equity securities (3,822,354) (13,363,215)
Proceeds from sales, maturities and calls of:    
Equity securities $ 4,677,473 8,834,375
Preferred Stocks [Member]    
Purchases of:    
Equity securities   (140,925)
Proceeds from sales, maturities and calls of:    
Equity securities   $ 3,861,722