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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenue:        
Premiums and policy fees $ 2,274,672 $ 2,285,170 $ 6,870,216 $ 7,020,901
Ceded reinsurance premiums and policy fees (725,156) (757,649) (2,013,691) (2,128,125)
Net investment income 2,134,293 2,231,360 6,176,319 8,083,200
Other income 92,998 111,775 282,203 264,589
Revenue before net investment gains (losses) 3,776,807 3,870,656 11,315,047 13,240,565
Net investment gains (losses):        
Other-than-temporary impairments 18,129 0 (393,455) 0
Other realized investment gains, net 127,775 1,591,814 4,560,282 (504,032)
Change in fair value of equity securities (9,380,710) (2,115,401) 10,994,305 (2,803,878)
Total net investment gains (losses) (9,234,806) (523,587) 15,161,132 (3,307,910)
Total revenue (5,457,999) 3,347,069 26,476,179 9,932,655
Benefits, claims and settlement expenses:        
Life 4,974,295 4,460,762 12,994,904 11,423,300
Ceded reinsurance benefits and claims (904,913) (966,260) (1,891,579) (1,954,371)
Annuity 246,362 250,486 739,455 742,023
Dividends to policyholders 68,243 70,125 242,527 256,445
Commissions and amortization of deferred policy acquisition costs (37,464) (35,865) (94,372) (99,541)
Amortization of cost of insurance acquired 178,383 186,214 536,228 558,639
Operating expenses 1,777,102 2,559,653 5,614,635 6,249,951
Total benefits and other expenses 6,302,008 6,525,115 18,141,798 17,176,446
Income (loss) before income taxes (11,760,007) (3,178,046) 8,334,381 (7,243,791)
Income tax (benefit) expense (2,762,312) (765,421) 1,308,355 (1,629,979)
Net income (loss) (8,997,695) (2,412,625) 7,026,026 (5,613,812)
Net income attributable to noncontrolling interests (14,577) (34,081) (70,832) (99,835)
Net income (loss) attributable to common shareholders $ (9,012,272) $ (2,446,706) $ 6,955,194 $ (5,713,647)
Amounts attributable to common shareholders        
Basic income (loss) per share (in dollars per share) $ (2.84) $ (0.76) $ 2.19 $ (1.75)
Diluted income (loss) per share (in dollars per share) $ (2.84) $ (0.76) $ 2.19 $ (1.75)
Basic weighted average shares outstanding (in shares) 3,169,328 3,221,049 3,173,755 3,256,217
Diluted weighted average shares outstanding (in shares) 3,169,328 3,221,049 3,173,755 3,256,217