3. Investments (Tables)

12 Months Ended

Dec. 31, 2015

Investments Tables

Schedule of Available for Sale Securities

	December 31, 2015
													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	$	12,139,793	$	431,194	$	(15,889	)	$	-		$	12,555,098	$	415,305
Corporate and other bonds Industrial and miscellaneous		45,078,044		490,444		(512,427	)		(99,593	)		44,956,468		(121,576	)
Residential mortgage backed securities		5,003,292		48,375		(61,169	)		-			4,990,498		(12,794	)
Total fixed-maturity securities		62,221,129		970,013		(589,485	)		(99,593	)		62,502,064		280,935
Equity Securities:
Preferred stocks		2,874,173		70,799		-			(29,322	)		2,915,650		41,477
Common stocks		5,877,364		514,977		(103,721	)		-			6,288,620		411,256
Total equity securities		8,751,537		585,776		(103,721	)		(29,322	)		9,204,270		452,733
Total	$	70,972,666	$	1,555,789	$	(693,206	)	$	(128,915	)	$	71,706,334	$	733,668

	December 31, 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	$	13,862,141	$	412,490	$	(23,813	)	$	(6,379	)	$	14,244,439	$	382,298
Corporate and other bonds Industrial and miscellaneous		36,221,300		803,440		(118,092	)		(30,228	)		36,876,420		655,120
Total fixed-maturity securities		50,083,441		1,215,930		(141,905	)		(36,607	)		51,120,859		1,037,418
Equity Securities:
Preferred stocks		3,172,632		19,180		(2,647	)		(62,886	)		3,126,280		(46,352	)
Common stocks		4,448,677		444,950		-			(2,177	)		4,891,449		442,772
Total equity securities		7,621,309		464,130		(2,647	)		(65,063	)		8,017,729		396,420
Total	$	57,704,750	$	1,680,060	$	(144,552	)	$	(101,670	)	$	59,138,588	$	1,433,838

Schedule of Available for Sale Securities by contractual maturity

	December 31, 2015				December 31, 2014
	Amortized				Amortized
Remaining Time to Maturity	Cost		Fair Value		Cost		Fair Value
Less than one year	$	827,246	$	837,918	$	482,833	$	487,507
One to five years		17,146,349		17,393,571		11,640,381		11,943,127
Five to ten years		37,877,726		37,884,450		32,283,921		32,865,231
More than 10 years		1,366,516		1,395,627		5,676,306		5,824,994
Residential mortgage backed securities		5,003,292		4,990,498		-		-
Total	$	62,221,129	$	62,502,064	$	50,083,441	$	51,120,859

Schedule of Held to Maturity Securities

	December 31, 2015
													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	$	606,389	$	147,650	$	-		$	-		$	754,039	$	147,650
Political subdivisions of States, Territories and Possessions		1,417,679		70,284		-			(54,189	)		1,433,774		16,095
Corporate and other bondsIndustrial and miscellaneous		3,114,804		82,265		(17,980	)		(125,807	)		3,053,282		(61,522	)
Total	$	5,138,872	$	300,199	$	(17,980	)	$	(179,996	)	$	5,241,095	$	102,223

	December 31, 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	$	606,353	$	183,200	$	-		$	-		$	789,553	$	183,200
Political subdivisions of States,Territories and Possessions		1,413,303		49,981		-			(12,247	)		1,451,037		37,734
Corporate and other bonds Industrial and miscellaneous		3,109,079		98,306		(52,921	)		-			3,154,464		45,385
Total	$	5,128,735	$	331,487	$	(52,921	)	$	(12,247	)	$	5,395,054	$	266,319

A summary of the amortized cost and fair value of the Company’s investments in held-to-maturity securities by contractual maturity as of December 31, 2015 and 2014 is shown below:

	December 31, 2015				December 31, 2014
	Amortized				Amortized
Remaining Time to Maturity	Cost		Fair Value		Cost		Fair Value
Less than one year	$	-	$	-	$	-	$	-
One to five years		500,000		496,245		-		-
Five to ten years		4,032,483		3,990,811		3,522,927		3,563,401
More than 10 years		606,389		754,039		1,605,808		1,831,653
Total	$	5,138,872	$	5,241,095	$	5,128,735	$	5,395,054

Schedule of Investment Income

	Year ended
	December 31,
	2015		2014
Income:
Fixed-maturity securities	$	2,308,993	$	1,665,534
Equity securities		503,363		483,175
Cash and cash equivalents		7,314		23,750
Other		1		(481	)
Total		2,819,671		2,171,978
Expenses:
Investment expenses		255,781		372,210
Net investment income	$	2,563,890	$	1,799,768

Schedule of net realized gains and losses on investments

	Year ended
	December 31,
	2015			2014
Fixed-maturity securities:
Gross realized gains	$	49,412		$	323,455
Gross realized losses		(152,328	)		(48,729	)
		(102,916	)		274,726
Equity securities:
Gross realized gains		153,711			497,023
Gross realized losses		(101,341	)		(116,309	)
		52,370			380,714
Cash and short term investments (1)		-			51,587
Net realized gains (losses)	$	(50,546	)	$	707,027

Schedule of Securities with Unrealized Losses

	December 31, 2015
	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	$	1,432,005	$	(15,889	)		4	$	-	$	-			-	$	1,432,005	$	(15,889	)
Corporate and other bonds industrial and miscellaneous		18,424,609		(512,427	)		32		636,093		(99,593	)		2		19,060,702		(612,020	)
Resedential mortgage backed securities		2,413,980		(61,169	)		12		-		-			-		2,413,980		(61,169	)
Total fixed-maturity securities	$	22,270,594	$	(589,485	)		48	$	636,093	$	(99,593	)		2	$	22,906,687	$	(689,078	)
Equity Securities:
Preferred stocks	$	-	$	-			-	$	702,000	$	(29,322	)		1	$	702,000	$	(29,322	)
Common stocks		2,538,900		(103,721	)		6		-		-			-		2,538,900		(103,721	)
Total equity securities	$	2,538,900	$	(103,721	)		6	$	702,000	$	(29,322	)		1	$	3,240,900	$	(133,043	)
Total	$	24,809,494	$	(693,206	)		54	$	1,338,093	$	(128,915	)		3	$	26,147,587	$	(822,121	)

	December 31, 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	$	3,013,648	$	(23,813	)		9	$	126,658	$	(6,379	)		1	$	3,140,306	$	(30,192	)
Corporate and other bonds industrial and miscellaneous		6,325,579		(118,092	)		15		714,640		(30,228	)		2		7,040,219		(148,320	)
Total fixed-maturity securities	$	9,339,227	$	(141,905	)		24	$	841,298	$	(36,607	)		3	$	10,180,525	$	(178,512	)
Equity Securities:
Preferred stocks	$	656,325	$	(2,647	)		1	$	1,448,376	$	(62,886	)		6	$	2,104,701	$	(65,533	)
Common stocks		-		-			-		267,000		(2,177	)		1		267,000		(2,177	)
Total equity securities	$	656,325	$	(2,647	)		1	$	1,715,376	$	(65,063	)		7	$	2,371,701	$	(67,710	)
Total	$	9,995,552	$	(144,552	)		25	$	2,556,674	$	(101,670	)		10	$	12,552,226	$	(246,222	)