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Condensed Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net (loss) earnings $ (1,191,331) $ 730,839
Adjustments to reconcile net (loss) earnings to net cash provided by operating activities    
Net realized investment losses (gains) 342,987 (599,642)
Net unrealized losses (gains) on equity securities 979,584 (1,723,727)
Depreciation 338,409 401,419
Deferred income tax (145,619) 406,991
Amortization of bond premium and discount 100,619 113,242
Stock-based compensation expense 220,357 210,172
Change in:    
Accrued investment income (33,964) 20,634
Premiums and reinsurance balances receivable (2,703,362) (998,495)
Ceded unearned premiums (32,249) (47,584)
Reinsurance balances payable 1,024,863 (560,369)
Reinsurance balances recoverable (8,426,429) (7,238,050)
Deferred policy acquisition costs (216,763) (245,200)
Unpaid losses and settlement expenses 9,576,812 9,816,461
Unearned premiums (179,707) 1,339,650
Accrued expenses (1,099,306) (1,277,407)
Current federal income tax (185,499) (51,929)
Other 2,404,746 (281,986)
Net cash provided by operating activities 774,148 15,019
Purchases of:    
Fixed maturity securities, available-for-sale (12,628,366) (12,689,731)
Other invested assets (901,500) (113,300)
Property held for investment (1,262,417) (167,850)
Property and equipment (175,151) (202,250)
Proceeds from sales, maturities and calls of:    
Fixed maturity securities, available-for-sale 9,384,229 13,750,473
Property and equipment 10,430 5,268
Net cash (used in) provided by investing activities (5,981,649) 1,437,729
Cash flows from financing activities:    
Proceeds from loans 11,629,800  
Repayments of borrowed funds (4,714) (2,787)
Purchase of common stock (15,958) (49,130)
Net cash provided by (used in) financing activities 11,609,128 (51,917)
Net increase in cash and cash equivalents 6,401,627 1,400,831
Cash and cash equivalents at beginning of year 6,626,585 4,644,784
Cash and cash equivalents at end of period 13,028,212 6,045,615
Supplemental information:    
Federal income tax recovered   164,543
Interest paid 82,000 31,800
Common Stocks [Member]    
Purchases of:    
Equity securities (2,173,439) (3,822,354)
Proceeds from sales, maturities and calls of:    
Equity securities 3,260,997 $ 4,677,473
Preferred Stock    
Purchases of:    
Equity securities (1,641,922)  
Proceeds from sales, maturities and calls of:    
Equity securities $ 145,490