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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net income (loss) $ 42,022,594 $ (1,569,399)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Accretion of investments (456,933) (149,951)
Realized investment gains, net (2,120,242) (8,973,842)
Change in fair value of equity securities (51,172,076) 7,209,399
Amortization of cost of insurance acquired 476,861 495,943
Provision for deferred income taxes 10,090,907 (446,037)
Depreciation and depletion 1,408,204 447,698
Stock-based compensation 349,312 674,390
Charges for mortality and administration of universal life and annuity products (4,115,148) (4,288,294)
Interest credited to account balances 2,682,616 2,741,851
Change in accrued investment income 518,533 133,627
Change in reinsurance receivables 422,464 865,679
Change in policy liabilities and accruals (2,126,806) (3,464,745)
Change in income taxes receivable (payable) 752,633 (6,611,271)
Change in other assets and liabilities, net 714,891 3,210,465
Net cash used in operating activities (552,190) (9,724,487)
Proceeds from investments sold and matured:    
Fixed maturities available for sale 5,000,000 4,058,333
Equity securities 10,408,667 6,861,942
Trading securities 102,699 0
Mortgage loans 2,402,495 17,601,131
Notes receivable 1,103,360 4,650,509
Real estate 3,098,290 15,533,712
Policy loans 864,973 1,106,310
Short-term investments 22,500,000 9,740,815
Total proceeds from investments sold and matured 45,480,484 59,552,752
Cost of investments acquired:    
Equity securities (10,882,905) (7,874,161)
Trading securities (102,699) 0
Mortgage loans (5,301,867) (2,050,124)
Notes receivable (800,000) (3,579,241)
Real estate (11,603,519) (4,115,151)
Policy loans (658,774) (699,167)
Short-term investments (950,925) (29,300,034)
Total cost of investments acquired (30,300,689) (47,617,878)
Net cash provided by investing activities 15,179,795 11,934,874
Cash flows from financing activities:    
Policyholder contract deposits 3,056,728 3,144,884
Policyholder contract withdrawals (3,534,666) (3,315,173)
Proceeds from notes payable/line of credit 0 2,500,000
Payments of principal on notes payable/line of credit (19,000,000) (21,500,000)
Purchase of treasury stock (326,731) (765,048)
Net cash used in financing activities (19,804,669) (19,935,337)
Net decrease in cash and cash equivalents (5,177,064) (17,724,950)
Cash and cash equivalents at beginning of period 41,185,196 45,290,385
Cash and cash equivalents at end of period $ 36,008,132 $ 27,565,435