Schedule II Condensed Financial Information of Registrant Balance Sheets

12 Months Ended

Dec. 31, 2019

Condensed Financial Information Disclosure [Abstract]

Condensed Financial Information of Registrant Balance Sheets

Midwest Holding Inc. (Parent Company)

Condensed Financial Information of Parent

Balance Sheets

	As of December 31,
	2019		2018
Assets:
Investment in subsidiaries (1)	$	14,417,498	$	16,199,089
Preferred stock		500,000		—
Cash and cash equivalents		4,446		79,247
Property and equipment, net		30,717		27,217
Right of use assets		446,835		556,264
Other assets		51,245		35,144
Total assets	$	15,450,741	$	16,896,961
Liabilities and Stockholders’ Equity
Liabilities:
Notes payable		500,000		18,938,705
Lease 1iability		500,952		610,719
Accounts payable and accrued expenses		291,041		(15,513)
Total liabilities		1,291,993		19,533,911
Mezzanine Equity:
Preferred stock, Series C, $0.001 par value; authorized 1,500,000 shares; none issued and outstanding as of December 31, 2019 and 1,500,000 as of December 31, 2018		—		1,500,000
Stockholders’ Equity:
Common stock, $0.001 par value; authorized 1,970,000,000 shares; issued and outstanding 1,023,408,553 as of December 31, 2019 and 22,873,764 as of December 31, 2018.		1,023,409		22,874
Additional paid-in capital		53,472,988		33,006,242
Accumulated deficit		(41,081,710)		(35,348,052)
Accumulated other comprehensive loss		619,584		(1,818,014)
Noncontrolling interest		124,477		—
Total stockholders’ equity  (deficit)		14,158,748		(4,136,950)
Total liabilities, mezzanine and stockholders’ equity	$	15,450,741	$	16,896,961

(1) Eliminated in consolidation.