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Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net income (loss) $ (1,122,703) $ 91,789
Adjustments to reconcile net income (loss) to net cash flows provided by (used in) operating activities:    
Deferred income taxes 215,432 55,658
Net realized loss on sales of investments 205,438 34,946
Unrealized loss (gain) on equity securities and other investments 1,758,983 (886,597)
Amortization of fixed maturity premiums 70,877 55,536
Depreciation and amortization expense 370,378 13,234
Stock based compensation expense 47,415  
Changes in operating assets and liabilities:    
Accrued investment income 25,006 17,552
Premiums receivable 180,119 698,075
Reinsurance recoverable (779,717) (251,805)
Income taxes recoverable (660,908) 367
Unearned ceded premiums 970,259 (1,206,884)
Deferred acquisition costs (383,976) (704,911)
Prepaid management fee   (10,000,000)
Other assets 22,343 (179,554)
Losses and loss adjustment expenses 745,376 (1,771,221)
Unearned premiums 1,817,064 1,844,138
Reinsurance payable (503,521) 1,491,536
Accounts payable, accrued expenses, and other liabilities (2,830,120) (1,668,079)
Due to affiliates   (81,613)
Net cash flows provided by (used in) operating activities 147,745 (12,447,833)
Cash flows from investing activities:    
Proceeds from sales of fixed maturity securities 7,311,231 4,803,891
Proceeds from sales of equity securities and other investments 203,111 173,190
Purchases of fixed maturity securities (6,923,432) (124,967)
Purchases of equity securities (318,315) (214,277)
Net sales of short-term investments 526,458 174,792
Net cash flows provided by investing activities 799,053 4,812,629
Cash flows from financing activities    
Proceeds from issuance of common stock   33,617,080
Payments of notes payable (16,004) (15,231)
Net cash flows (used in) provided by financing activities (16,004) 33,601,849
Net change in cash and cash equivalents 930,794 25,966,645
Cash and cash equivalents, at beginning of period 20,988,081 3,903,620
Cash and cash equivalents, at end of period 21,918,875 29,870,265
Cash paid during the period for interest $ 595 $ 1,188