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Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net earnings (loss) $ 1,161,941 $ (1,973,296)
Adjustments to reconcile net earnings (loss) to net cash provided by (used in) operating activities    
Net realized investment gains (186,709) (95,632)
Net unrealized (gains) losses on equity securities (876,316) 3,689,347
Depreciation 159,680 167,079
Deferred income tax 271,546 (776,673)
Amortization of bond premium and discount 67,997 46,198
Stock-based compensation expense 120,866 112,695
Change in:    
Accrued investment income (39,360) (49,265)
Premiums and reinsurance balances receivable 908,120 145,030
Ceded unearned premiums (1,009) 16,232
Reinsurance balances payable (23,689) (22,323)
Reinsurance balances recoverable (991,294) (282,252)
Deferred policy acquisition costs (291,657) (111,309)
Unpaid losses and settlement expenses 232,302 1,435,349
Unearned premiums 679,060 (575,696)
Accrued expenses (450,758) (1,249,696)
Current federal income tax 34,078 3,497
Other (292,180) (316,700)
Net cash provided by operating activities 482,618 162,585
Purchases of:    
Fixed maturity securities, available-for-sale (2,494,500) (5,105,043)
Other invested assets   (821,500)
Property held for investment (30,018) (28,573)
Property and equipment (80,497) (108,096)
Proceeds from sales, maturities and calls of:    
Fixed maturity securities, available-for-sale 3,484,432 3,802,593
Property held for investment 243,588  
Property and equipment 1,007 3,835
Net cash used in investing activities (1,502,846) (3,780,629)
Cash flows from financing activities:    
Proceeds from loans   6,000,000
Repayments of borrowed funds (2,961) (2,522)
Purchase of treasury stock (19,174)  
Net cash (used in) provided by financing activities (22,135) 5,997,478
Net (decrease) increase in cash and cash equivalents (1,042,363) 2,379,434
Cash and cash equivalents at beginning of year 6,598,842 6,626,585
Cash and cash equivalents at end of period 5,556,479 9,006,019
Supplemental information:    
Interest paid 52,600 35,300
Common Stocks [Member]    
Purchases of:    
Equity securities (3,310,389) (592,329)
Proceeds from sales, maturities and calls of:    
Equity securities 687,015 524,818
Preferred Stock [Member]    
Purchases of:    
Equity securities (81,953) (1,548,172)
Proceeds from sales, maturities and calls of:    
Fixed maturity securities, available-for-sale $ 78,469 $ 91,838