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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:    
Net income $ 9,755,160 $ 2,216,562
Adjustments to reconcile net income to net cash used in operating activities:    
Amortization (accretion) of investments 210,665 (48,539)
Other-than-temporary impairments 393,455 (0)
Realized investment gains, net (6,021,653) (4,645,699)
Change in fair value of equity securities (14,121,883) (6,208,148)
Unrealized trading (gains) losses included in income (2,059) 973
Realized trading (gains) losses included in income (20,509) (3,894)
Amortization of cost of insurance acquired 714,970 744,850
Depreciation and depletion 2,757,522 1,697,285
Stock-based compensation 287,934 325,668
Charges for mortality and administration of universal life and annuity products (6,325,818) (6,355,601)
Interest credited to account balances 3,896,162 4,012,179
Change in accrued investment income 77,484 338,140
Change in reinsurance receivables 88,449 541,295
Change in policy liabilities and accruals (5,470,342) (2,285,473)
Change in income taxes receivable (payable) (1,243,870) (45,165)
Change in other assets and liabilities, net 2,570,898 (3,527,819)
Net cash used in operating activities (12,453,435) (13,243,386)
Proceeds from investments sold and matured:    
Fixed maturities available for sale 21,581,106 23,924,989
Equity securities 5,892,777 18,281,727
Trading securities 41,708 (579)
Mortgage loans 12,270,055 707,274
Real estate 8,370,848 11,983,353
Notes receivable 8,639,320 5,305,162
Policy loans 2,503,273 1,256,793
Short-term investments 0 18,500,000
Total proceeds from investments sold and matured 59,299,087 79,958,719
Cost of investments acquired:    
Fixed maturities available for sale (4,078,459) (9,048,928)
Equity securities (32,991,005) (15,362,440)
Trading securities (30,243) 15,719
Mortgage loans (20,634,252) (13,213,037)
Real estate (10,960,910) (2,995,519)
Notes receivable (8,680,000) (3,500,000)
Policy loans (1,303,246) (1,043,441)
Short-term investments 0 (7,890,228)
Total cost of investments acquired (78,678,115) (53,037,874)
Sale of property and equipment 1,324,647 0
Net cash provided by (used in) investing activities (18,054,381) 26,920,845
Cash flows from financing activities:    
Policyholder contract deposits 4,466,422 4,408,039
Policyholder contract withdrawals (5,588,394) (4,343,401)
Proceeds from notes payable/line of credit 24,000,000 0
Purchase of treasury stock (537,379) (3,313,154)
Issuance of stock 5,005 0
Non controlling contributions/(distributions) of consolidated subsidiary (76,314) (190,818)
Net cash provided by (used in) financing activities 22,269,340 (3,439,334)
Net increase (decrease) in cash and cash equivalents (8,238,476) 10,238,125
Cash and cash equivalents at beginning of period 39,025,754 28,787,629
Cash and cash equivalents at end of period $ 30,787,278 $ 39,025,754