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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net income (loss) $ 7,026,026 $ (5,613,812)
Adjustments to reconcile net income to net cash used in operating activities:    
Amortization (accretion) of investments 55,737 (87,559)
Other-than-temporary impairments 393,455 (0)
Realized investment gains (losses), net (4,560,282) 504,032
Change in fair value of equity securities (10,994,305) 2,803,878
Unrealized trading (gains) losses included in income (1,329) (1,581)
Realized trading (gains) losses included in income (20,360) 0
Amortization of cost of insurance acquired 536,228 558,639
Depreciation and depletion 1,862,637 338,550
Stock-based compensation 170,538 218,289
Charges for mortality and administration of universal life and annuity products (4,791,098) (4,759,240)
Interest credited to account balances 2,940,521 3,014,030
Change in accrued investment income 299,159 431,837
Change in reinsurance receivables (171,403) 122,415
Change in policy liabilities and accruals (3,774,549) (2,463,865)
Change in income taxes receivable (payable) (1,433,348) (458,729)
Change in other assets and liabilities, net 2,240,191 (3,373,186)
Net cash used in operating activities (10,222,182) (8,766,302)
Proceeds from investments sold and matured:    
Fixed maturities available for sale 18,581,107 12,253,350
Equity securities 5,306,206 17,071,364
Trading securities 29,283 0
Mortgage loans 7,758,199 554,787
Real estate 5,973,637 8,513,461
Notes receivable 1,372,154 3,689,060
Policy loans 1,588,854 914,651
Short-term investments 0 10,500,000
Total proceeds from investments sold and matured 40,609,440 53,496,673
Cost of investments acquired:    
Fixed maturities available for sale (20,000) (9,038,928)
Equity securities (26,353,197) (12,011,489)
Trading securities (16,133) 5,584
Mortgage loans (3,305,354) (12,692,488)
Real estate (5,507,777) 0
Notes receivable (7,840,000) (3,500,000)
Policy loans (838,053) (838,766)
Short-term investments 0 (7,890,228)
Total cost of investments acquired (43,880,514) (45,966,315)
Net cash provided by (used in) investing activities (3,271,074) 7,530,358
Cash flows from financing activities:    
Policyholder contract deposits 3,303,536 3,386,396
Policyholder contract withdrawals (4,327,607) (3,040,660)
Purchase of treasury stock (394,712) (3,174,230)
Net cash used in financing activities (1,418,783) (2,828,494)
Net increase (decrease) in cash and cash equivalents (14,912,039) (4,064,438)
Cash and cash equivalents at beginning of period 39,025,754 28,787,629
Cash and cash equivalents at end of period $ 24,113,715 $ 24,723,191