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Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net (loss) earnings $ (1,973,296) $ 288,748
Adjustments to reconcile net (loss) earnings to net cash provided by operating activities    
Net realized investment (losses) gains (95,632) 47,426
Net unrealized losses (gains) on equity securities 3,689,347 (1,840,418)
Depreciation 167,079 199,126
Deferred income tax (776,673) 375,879
Amortization of bond premium and discount 46,198 57,625
Stock-based compensation expense 112,695 98,203
Change in:    
Accrued investment income (49,265) (33,248)
Premiums and reinsurance balances receivable 145,030 (676,696)
Ceded unearned premiums 16,232 12,371
Reinsurance balances payable (22,323) 3,551,227
Reinsurance balances recoverable (282,252) (8,372,725)
Deferred policy acquisition costs (111,309) 3,718
Unpaid losses and settlement expenses 1,435,349 9,569,902
Unearned premiums (575,696) 10,510
Accrued expenses (1,249,696) (1,965,886)
Current federal income tax 3,497 (152,343)
Other (316,700) (45,124)
Net cash provided by operating activities 162,585 1,128,295
Purchases of:    
Fixed maturity securities, available-for-sale (5,105,043) (4,902,758)
Other invested assets (821,500) (104,000)
Property held for investment (28,573) (50)
Property and equipment (108,096) (75,726)
Proceeds from sales, maturities and calls of:    
Fixed maturity securities, available-for-sale 3,802,593 5,778,893
Property and equipment 3,835 5,268
Net cash (used in) provided by investing activities (3,780,629) 637,474
Cash flows from financing activities:    
Proceeds from loans 6,000,000  
Repayments of borrowed funds (2,522)  
Purchase of common stock   (1,400)
Net cash provided by (used in) financing activities 5,997,478 (1,400)
Net increase in cash and cash equivalents 2,379,434 1,764,369
Cash and cash equivalents at beginning of year 6,626,585 4,644,784
Cash and cash equivalents at end of period 9,006,019 6,409,153
Supplemental information:    
Federal income tax recovered   164,543
Interest paid 35,300  
Common Stocks [Member]    
Purchases of:    
Equity securities (592,329) (617,566)
Proceeds from sales, maturities and calls of:    
Equity securities 524,818 $ 553,413
Preferred Stocks [Member]    
Purchases of:    
Equity securities (1,548,172)  
Proceeds from sales, maturities and calls of:    
Equity securities $ 91,838