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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net income $ 12,798,260 $ 9,268,796
Adjustments to reconcile net income to net cash used in operating activities:    
Amortization (accretion) of investments 55,126 (254,643)
Realized investment gains, net (975,769) (37,470)
Change in fair value of equity securities (16,290,482) (12,376,263)
Unrealized trading losses included in income 0 7,301
Amortization of cost of insurance acquired 153,542 158,954
Provision for deferred income tax expenses 3,703,042 2,557,601
Depreciation and depletion 375,893 462,855
Stock-based compensation 13,974 299,314
Charges for mortality and administration of universal life and annuity products (1,354,014) (1,374,829)
Interest credited to account balances 872,357 901,542
Change in accrued investment income 184,152 280,803
Change in reinsurance receivables 277,737 99,789
Change in policy liabilities and accruals (1,298,156) (1,219,854)
Change in income taxes receivable 47,948 45,205
Change in other assets and liabilities, net (1,818,821) (835,179)
Net cash used in operating activities (3,255,211) (2,016,078)
Proceeds from investments sold and matured:    
Fixed maturities available for sale 3,000,000 5,000,000
Equity securities 2,331,830 3,519,729
Trading securities 0 102,699
Mortgage loans 1,096,597 209,928
Notes receivable 95,403 421,847
Real estate 0 722,925
Policy loans 248,124 247,513
Short-term investments 0 15,750,000
Total proceeds from investments sold and matured 6,771,954 25,974,641
Cost of investments acquired:    
Equity securities (9,131,704) (3,107,915)
Mortgage loans (675,112) (599,189)
Note receivable (1,318,133) (800,000)
Real estate (465,800) (545,180)
Policy loans (202,355) (224,197)
Total cost of investments acquired (11,793,104) (5,276,481)
Net cash provided by (used in) investing activities (5,021,150) 20,698,160
Cash flows from financing activities:    
Policyholder contract deposits 1,025,008 1,046,208
Policyholder contract withdrawals (1,158,017) (978,348)
Payments of principal on notes payable/line of credit 0 (19,000,000)
Purchase of treasury stock (96,024) (108,914)
Net cash used in financing activities (229,033) (19,041,054)
Net decrease in cash and cash equivalents (8,505,394) (358,972)
Cash and cash equivalents at beginning of period 45,263,967 41,185,196
Cash and cash equivalents at end of period $ 36,758,573 $ 40,826,224