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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash Flows from Operating Activities:    
Net loss $ (3,989,684) $ (3,641,803)
Adjustments to arrive at cash provided by operating activities:    
Net premium and discount on investments 80,563 80,271
Depreciation and amortization 44,820 157,251
Amortization of deferred acquisition costs 88,503  
Deferred acquisition costs capitalized (2,395,710)  
Net realized gains on investments 13,654 285,487
Deferred coinsurance ceding commission 2,821,255 (36,282)
Notes payable interest accrued 845,536  
Commutation of Security National Life Insurance assumed business   (2,543,898)
Changes in operating assets and liabilities:    
Reinsurance recoverables (1,002,794) (436,510)
Accrued investment income (554,489) 20,806
Premiums receivable 733 23,692
Policy liabilities 76,877,920 734,324
Other assets and liabilities 6,170,613 133,975
Other assets and liabilities - discontinued operations (117,392) 834,678
Net cash provided by or used for operating activities 78,883,528 (4,388,009)
Securities available for sale:    
Purchases (50,253,728) (7,381,392)
Proceeds from sale or maturity 2,488,387 9,313,456
Purchases of other invested assets (2,976,375) (100,000)
Proceeds from sale of other invested assets   104,892
Preferred stock purchased (500,000)  
Mortgage loans on real estate, held for investment    
Mortgage loans on real estate, held for investment purposes (10,098,478)  
Net change in policy loans 941 11,037
Net purchases of property and equipment (17,349) (6,707)
Net cash used in or provided by investing activities (61,356,602) 1,941,286
Cash Flows from Financing Activities:    
Finance lease (333) (333)
Proceeds from issuance of preferred stock   1,500,000
Proceeds from issuance of notes payable   600,000
Net transfers to noncontrolling interest 48,661  
Receipts on deposit-type contracts 4,088,640 650
Withdrawals on deposit-type contracts (126,852) (49,678)
Net cash provided by financing activities 4,010,116 2,050,639
Net increase (decrease) in cash and cash equivalents 21,537,042 (396,084)
Cash and cash equivalents:    
Beginning 2,832,567 951,527
Ending 24,369,609 $ 555,443
Conversion of notes payable    
Book value of note payable (19,100,000)  
Common stock 927,680  
Additional paid in capital 18,172,320  
Conversion of preferred stock    
Book value of preferred stock (1,500,000)  
Common stock 72,855  
Additional paid in capital $ 1,427,145