XML 22 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
Statement of Cash Flows (USD $)
6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Cash flows from operating activities:    
Net loss attributable to common shareholders $ (1,513,457) $ (35,204)
Adjustments to reconcile net loss to net cash used in operating activities    
Amortization (accretion) of investments (835,649) (1,462,254)
Realized investment gains, net (1,971,461) (621,564)
Unrealized trading (gains) losses included in income (15,622) (49,545)
Amortization of deferred policy acquisition costs 25,828 28,216
Amortization of cost of insurance acquired 492,824 532,176
Depreciation 673,213 640,571
Net income attributable to noncontrolling interest 319,033 342,783
Charges for mortality and administration of universal life and annuity products (3,352,060) (3,458,497)
Interest credited to account balances 2,607,793 2,662,628
Change in accrued investment income (34,623) 138,634
Change in reinsurance receivables 225,406 1,072,113
Change in policy liabilities and accruals (3,004,690) (2,642,960)
Change in income taxes receivable (payable) 12,582 (3,463,692)
Change in other assets and liabilities, net 1,852,980 633,298
Net cash used in operating activities (4,517,903) (5,683,297)
Proceeds from investments sold and matured:    
Fixed maturities available for sale 14,200,536 21,247,954
Equity securities available for sale 4,120,242 238,330
Trading securities 1,116,500 23,753,619
Mortgage loans 1,154,443 9,004,089
Discounted mortgage loans 2,609,104 3,898,888
Real estate 8,599,113 4,063,257
Policy loans 1,700,041 2,029,941
Proceeds from Short-Term Investments 0 0
Total proceeds from investments sold and matured 33,499,979 64,236,078
Cost of investments acquired:    
Fixed maturities available for sale (11,436,600) (16,132,719)
Equity securities available for sale (2,462,226) (8,731,875)
Trading securities (13,901) (22,140,303)
Mortgage loans (1,727,681) (1,435,782)
Discounted mortgage loans (16,723) (1,436,582)
Real estate (4,487,029) (7,829,033)
Policy loans (1,332,401) (1,497,536)
Short-term investments (4,832,980) (25,000)
Total cost of investments acquired (26,309,541) (59,228,830)
Net cash provided by investing activities 7,190,438 5,007,248
Cash flows from financing activities:    
Policyholder contract deposits 2,773,092 2,884,121
Policyholder contract withdrawals (3,181,015) (2,940,308)
Proceeds from notes payable/line of credit 0 0
Payments of principal on notes payable/line of credit (900,000) 0
Purchase of treasury stock (173,774) (202,919)
Sale of block of business (78,009) 0
Distributions to minority interests of consolidated subsidiaries (3,045,574) (103,625)
Net cash provided by (used in) financing activities (4,605,280) (362,731)
Net increase (decrease) in cash and cash equivalents (1,932,745) (1,038,780)
Cash and cash equivalents at beginning of period 19,838,618 23,321,246
Cash and cash equivalents at end of period $ 17,905,873 $ 22,282,466