XML 52 R6.htm IDEA: XBRL DOCUMENT v3.19.3
Condensed Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Net earnings $ 716,923 $ 258,722
Adjustments to reconcile net earnings to net cash provided by operating activities    
Net realized investment gains (741,123) (1,087,229)
Net unrealized gains on equity securities (1,716,124)  
Depreciation 613,916 519,471
Deferred income tax 360,009 4,101
Amortization of bond premium and discount 172,691 239,029
Stock-based compensation expense 311,361 307,566
Change in:    
Accrued investment income (2,371) 27,598
Premiums and reinsurance balances receivable (1,847,981) (2,883,819)
Ceded unearned premiums (65,406) (430,781)
Reinsurance balances payable (897,013) 908,323
Reinsurance balances recoverable (5,530,517) 550,567
Deferred policy acquisition costs (278,207) (911,348)
Unpaid losses and settlement expenses 6,875,171 3,139,319
Unearned premiums 1,642,978 3,822,745
Accrued expenses (1,376,476) (548,197)
Current federal income tax (18,097) (9,086)
Other (570,277) (598,682)
Net cash (used in) provided by operating activities (2,350,543) 3,308,299
Purchases of:    
Fixed maturity securities, available-for-sale (19,060,848) (12,181,365)
Other invested assets (738,300) (39,200)
Property held for investment (332,393) (374,409)
Property and equipment (321,704) (444,603)
Proceeds from sales, maturities and calls of:    
Fixed maturity securities, available-for-sale 19,522,461 10,181,569
Property and equipment 31,137 5,854
Net cash used in investing activities (153,466) (3,629,926)
Cash flows from financing activities:    
Repayments of borrowed funds (7,020) (852,191)
Purchase of common stock (102,855) (2,999,995)
Net cash used in financing activities (109,875) (3,852,186)
Net decrease in cash and cash equivalents (2,613,884) (4,173,813)
Cash and cash equivalents at beginning of year 4,644,784 6,876,519
Cash and cash equivalents at end of period 2,030,900 2,702,706
Supplemental information:    
Federal income tax paid 164,543  
Interest paid 96,700 140,881
Common Stocks [Member]    
Purchases of:    
Equity securities (5,252,095) (13,932,332)
Proceeds from sales, maturities and calls of:    
Equity securities $ 5,998,276 9,367,763
Preferred Stocks [Member]    
Purchases of:    
Equity securities   (140,925)
Proceeds from sales, maturities and calls of:    
Equity securities   $ 3,927,722