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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash Flows from Operating Activities:    
Net income (loss) $ 21,548,458 $ (1,495,018)
Adjustments to arrive at cash provided by operating activities:    
Net premium and discount on investments 37,978 24,777
Depreciation and amortization 15,321 18,013
Stock options 11,934  
Net transfers to noncontrolling interest 62,500  
Amortization of deferred acquisition costs 40,509 2,069
Deferred acquisition costs capitalized (1,483,941) (253,186)
Net realized gains on investments (22,600,010) 4,397
Deferred coinsurance ceding commission 1,033,940 (792,325)
Notes payable interest accrued   271,142
Preferred stock dividend   90,667
Changes in operating assets and liabilities:    
Reinsurance recoverables 2,617,495 (204,111)
Interest and dividends due and accrued (1,052,329) (86,946)
Premiums receivable 5,599 (1,980)
Policy liabilities 1,699,134 276,747
Other assets and liabilities 379,158 2,042,291
Other assets and liabilities - discontinued operations 703 (145,981)
Net cash provided by or (used in) operating activities 2,316,449 (249,444)
Securities available for sale:    
Purchases (39,723,572) (7,446,737)
Proceeds from sale or maturity 3,852,943 360,600
Mortgage loans on real estate, held for investment purchases    
Purchases (33,342,545)  
Proceeds from sale 2,069,950  
Purchase of derivatives (651,661)  
Other invested assets    
Purchases (2,715,965)  
Proceeds from sale 2,388,560  
Net change in policy loans (22,720) 733
Net purchases of property and equipment (8,998) (3,818)
Net cash used in investing activities (68,154,008) (7,089,222)
Cash Flows from Financing Activities:    
Finance lease (111) (111)
Receipts on deposit-type contracts 47,815,010 8,320,749
Withdrawals on deposit-type contracts (186,689)  
Net cash provided by financing activities 47,628,210 8,320,638
Net increase (decrease) in cash and cash equivalents (18,209,349) 981,972
Cash and cash equivalents:    
Beginning 43,716,205 2,832,567
Ending $ 25,506,856 $ 3,814,539