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Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net loss $ (764,640) $ (469,158)
Adjustments to reconcile net loss to net cash flows used in operating activities:    
Deferred income taxes 234,230 (168,927)
Net realized (gain) loss on sales of investments (49,364) 179,944
Unrealized loss (gain) on equity securities and other investments 1,521,845 (1,205,213)
Amortization of fixed maturity premiums 154,586 113,397
Depreciation and amortization expense 740,752 383,610
Stock based compensation expense 71,122  
Changes in operating assets and liabilities:    
Accrued investment income 27,675 (1,747)
Premiums receivable 793,396 2,101,019
Reinsurance recoverable (414,651) (1,684,074)
Income taxes recoverable (747,580) 313
Unearned ceded premiums (741,806) (991,017)
Deferred acquisition costs (9,983) 326,736
Prepaid management fee   (10,000,000)
Other assets (178,769) (74,497)
Losses and loss adjustment expenses (97,651) (900,573)
Unearned premiums 167,781 (448,072)
Reinsurance payable 964,585 160,454
Accounts payable, accrued expenses, and other liabilities (2,922,866) (1,689,520)
Net cash flows used in operating activities (1,251,338) (14,367,325)
Cash flows from investing activities:    
Proceeds from sales of fixed maturity securities 12,235,480 5,993,685
Proceeds from sales of equity securities and other investments 6,026,885 1,313,230
Purchases of fixed maturity securities (15,686,197) (5,786,607)
Purchases of equity securities (332,624) (534,224)
Net sales of short-term investments 919,472 300,000
Net cash flows provided by investing activities 3,163,016 1,286,084
Cash flows from financing activities    
Proceeds from issuance of common stock   33,574,401
Payments of notes payable (32,168) (30,937)
Net cash flows (used in) provided by financing activities (32,168) 33,543,464
Net change in cash and cash equivalents 1,879,510 20,462,223
Cash and cash equivalents, at beginning of period 20,988,081 3,903,620
Cash and cash equivalents, at end of period 22,867,591 24,365,843
Cash paid during the period for interest $ 1,855 $ 2,261