3. Investments (Tables)

9 Months Ended

Sep. 30, 2014

Notes to Financial Statements

Schedule of Availalbe for Sale Securities

	September 30, 2014
													Net
	Cost or		Gross		Gross Unrealized Losses								Unrealized
	Amortized		Unrealized		Less than 12			More than 12			Fair		Gains/
Category	Cost		Gains		Months			Months			Value		(Losses)
Fixed-Maturity Securities:
Political subdivisions of States,
Territories and Possessions	$	13,807,507	$	430,058	$	(38,144	)	$	(6,818	)	$	14,192,603	$	385,096
Corporate and other bonds
Industrial and miscellaneous		33,140,595		823,439		(106,702	)		(51,037	)		33,806,295		665,700
Total fixed-maturity securities		46,948,102		1,253,497		(144,846	)		(57,855	)		47,998,898		1,050,796
Equity Securities:
Preferred stocks		3,172,632		15,581		(6,022	)		(82,377	)		3,099,814		(72,818	)
Common stocks		5,685,360		427,462		(51,892	)		-			6,060,930		375,570
Total equity securities		8,857,992		443,043		(57,914	)		(82,377	)		9,160,744		302,752
Total	$	55,806,094	$	1,696,540	$	(202,760	)	$	(140,232	)	$	57,159,642	$	1,353,548

	December 31, 2013
													Net
	Cost or		Gross		Gross Unrealized Losses								Unrealized
	Amortized		Unrealized		Less than 12			More than 12			Fair		Gains/
Category	Cost		Gains		Months			Months			Value		(Losses)
Fixed-Maturity Securities:
Political subdivisions of States,
Territories and Possessions	$	7,000,222	$	162,616	$	(49,491	)	$	(45,140	)	$	7,068,207	$	67,985
Corporate and other bonds
Industrial and miscellaneous		21,079,680		569,139		(179,810	)		(101,194	)		21,367,815		288,135
Total fixed-maturity securities		28,079,902		731,755		(229,301	)		(146,334	)		28,436,022		356,120
Equity Securities:
Preferred stocks		2,899,301		2,503		(251,525	)		(62,551	)		2,587,728		(311,573	)
Common stocks		3,791,037		470,606		(38,785	)		(13,913	)		4,208,945		417,908
Total equity securities		6,690,338		473,109		(290,310	)		(76,464	)		6,796,673		106,335
Total	$	34,770,240	$	1,204,864	$	(519,611	)	$	(222,798	)	$	35,232,695	$	462,455

Schedule of Availalbe for Sale Securities by contractual maturity

	September 30, 2014		December 31, 2013
	Amortized		Amortized
Remaining Time to Maturity	Cost	Fair Value	Cost	Fair Value
Less than one year	$      484,779	$      490,726	$      758,281	$      768,954
One to five years	10,288,457	10,698,522	9,025,386	9,466,973
Five to ten years	30,053,300	30,570,369	14,070,003	14,114,271
More than 10 years	6,121,566	6,239,281	4,226,232	4,085,824
Total	$ 46,948,102	$ 47,998,898	$ 28,079,902	$ 28,436,022

Schedule of Held to Maturity Securities

	September 30, 2014
						Net
	Cost or	Gross	Gross Unrealized Losses			Unrealized
	Amortized	Unrealized	Less than 12	More than 12	Fair	Gains/
Category	Cost	Gains	Months	Months	Value	(Losses)
U.S. Treasury securities	$    606,344	$     126,344	$                  -	$                  -	$    732,688	$      126,344
Political subdivisions of States,
Territories and Possessions	1,412,284	42,046	-	(10,068)	1,444,262	31,978
Corporate and other bonds
Industrial and miscellaneous	3,106,657	74,332	(23,880)	-	3,157,106	50,449
Total	$ 5,125,285	$     242,722	$       (23,880)	$       (10,068)	$ 5,334,056	$      208,771

	December 31, 2013
						Net
	Cost or	Gross	Gross Unrealized Losses			Unrealized
	Amortized	Unrealized	Less than 12	More than 12	Fair	Gains/
Category	Cost	Gains	Months	Months	Value	(Losses)
U.S. Treasury securities	$    606,138	$       46,915	$                  -	$                  -	$    653,053	$        46,915
Political subdivisions of States,
Territories and Possessions	208,697	-	(25,359)	-	183,338	(25,359)
Corporate and other bonds
Industrial and miscellaneous	1,584,647	4,223	-	-	1,588,870	4,223
Total	$ 2,399,482	$       51,138	$       (25,359)	$                  -	$ 2,425,261	$        25,779

Schedule of Held to Maturity Securities by contractual maturity

	September 30, 2014		December 31, 2013
	Amortized		Amortized
Remaining Time to Maturity	Cost	Fair Value	Cost	Fair Value
Less than one year	$                 -	$                  -	$                  -	$                  -
One to five years	-	-	-	-
Five to ten years	3,318,492	3,358,874	1,793,344	1,772,208
More than 10 years	1,806,793	1,975,182	606,138	653,053
Total	$   5,125,285	$   5,334,056	$   2,399,482	$   2,425,261

Schedule of Investment Income

	Three months ended		Nine months ended
	September 30,		September 30,
	2014	2013	2014	2013
Income:
Fixed-maturity securities	$      433,028	$      241,286	$   1,182,083	$      736,298
Equity securities	116,683	117,916	372,901	297,760
Cash and cash equivalents	232	1	23,672	30
Other	-	(1,066)	594	10,751
Total	549,943	358,137	1,579,250	1,044,839
Expenses:
Investment expenses	86,430	63,789	285,034	192,173
Net investment income	$      463,513	$      294,348	$   1,294,216	$      852,666

Schedule of Securities with realized gains and losses on investments

	Three months ended		Nine months ended
	September 30,		September 30,
	2014	2013	2014	2013
Fixed-maturity securities:
Gross realized gains	$        25,870	$        56,669	$      183,349	$      237,886
Gross realized losses	(20,436)	-	(48,729)	(56,471)
	5,434	56,669	134,620	181,415
Equity securities:
Gross realized gains	77,535	79,593	294,786	369,582
Gross realized losses	(19,380)	(41,806)	(42,867)	(101,523)
	58,155	37,787	251,919	268,059
Cash and short term investments (1)	51,587	-	51,587	-
Net realized gains	$      115,176	$        94,456	$      438,126	$      449,474

Schedule of Securities with Unrealized Losses

	September 30, 2014
	Less than 12 months							12 months or more							Total
						No. of							No. of		Aggregate
	Fair		Unrealized			Positions		Fair		Unrealized			Positions		Fair		Unrealized
Category	Value		Losses			Held		Value		Losses			Held		Value		Losses
Fixed-Maturity Securities:
Political subdivisions of
States, Territories and
Possessions	$	2,149,022	$	(38,144	)		7	$	541,806	$	(6,818	)		2	$	2,690,828	$	(44,962	)
Corporate and other
bonds industrial and
miscellaneous		6,040,156		(106,702	)		12		993,653		(51,037	)		3		7,033,809		(157,739	)
Total fixed-maturity
securities	$	8,189,178	$	(144,846	)		19	$	1,535,459	$	(57,855	)		5	$	9,724,637	$	(202,701	)
Equity Securities:
Preferred stocks	$	652,950	$	(6,022	)		1	$	1,688,024	$	(82,377	)		7	$	2,340,974	$	(88,399	)
Common stocks		1,541,225		(51,892	)		6		-		-			-		1,541,225		(51,892	)
Total equity securities	$	2,194,175	$	(57,914	)		7	$	1,688,024	$	(82,377	)		7	$	3,882,199	$	(140,291	)
Total	$	10,383,353	$	(202,760	)		26	$	3,223,483	$	(140,232	)		12	$	13,606,836	$	(342,992	)

	December 31, 2013
	Less than 12 months							12 months or more							Total
						No. of							No. of		Aggregate
	Fair		Unrealized			Positions		Fair		Unrealized			Positions		Fair		Unrealized
Category	Value		Losses			Held		Value		Losses			Held		Value		Losses
Fixed-Maturity Securities:
Political subdivisions of
States, Territories and
Possessions	$	2,015,437	$	(49,491	)		6	$	415,866	$	(45,140	)		2	$	2,431,303	$	(94,631	)
Corporate and other
bonds industrial and
miscellaneous		6,447,605		(179,810	)		24		1,430,377		(101,194	)		5		7,877,982		(281,004	)
Total fixed-maturity
securities	$	8,463,042	$	(229,301	)		30	$	1,846,243	$	(146,334	)		7	$	10,309,285	$	(375,635	)
Equity Securities:
Preferred stocks	$	1,835,958	$	(251,525	)		8	$	444,100	$	(62,551	)		2	$	2,280,058	$	(314,076	)
Common stocks		879,525		(38,785	)		4		145,625		(13,913	)		1		1,025,150		(52,698	)
Total equity securities	$	2,715,483	$	(290,310	)		12	$	589,725	$	(76,464	)		3	$	3,305,208	$	(366,774	)
Total	$	11,178,525	$	(519,611	)		42	$	2,435,968	$	(222,798	)		10	$	13,614,493	$	(742,409	)