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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net income (loss) $ 16,559,619 $ 7,026,026
Adjustments to reconcile net income to net cash used in operating activities:    
Amortization (accretion) of investments 24,741 55,737
Other-than-temporary impairments (0) 393,455
Realized investment gains (losses), net (6,759,716) (4,560,282)
Change in fair value of equity securities (14,462,029) (10,994,305)
Unrealized trading (gains) losses included in income 0 (1,329)
Realized trading (gains) losses included in income 13,283 (20,360)
Amortization of cost of insurance acquired 516,261 536,228
Depreciation and depletion 1,635,706 1,862,637
Stock-based compensation 486,797 170,538
Charges for mortality and administration of universal life and annuity products (4,480,817) (4,791,098)
Interest credited to account balances 2,831,885 2,940,521
Change in accrued investment income 31,527 299,159
Change in reinsurance receivables 827,435 (171,403)
Change in policy liabilities and accruals (3,074,992) (3,774,549)
Change in income taxes receivable (payable) 1,378,658 (1,433,348)
Change in other assets and liabilities, net 4,194,376 2,240,191
Net cash used in operating activities (277,266) (10,222,182)
Proceeds from investments sold and matured:    
Fixed maturities available for sale 8,628,136 18,581,107
Equity securities 10,735,510 5,306,206
Trading securities 17,983 29,283
Mortgage loans 1,443,119 7,758,199
Real estate 11,387,025 5,973,637
Notes receivable 3,984,614 1,372,154
Policy loans 903,696 1,588,854
Total proceeds from investments sold and matured 37,100,083 40,609,440
Cost of investments acquired:    
Fixed maturities available for sale (1,112,505) (20,000)
Equity securities (12,540,638) (26,353,197)
Trading securities (32,382) (16,133)
Mortgage loans (1,755,496) (3,305,354)
Real estate (4,236,603) (5,507,777)
Notes receivable (5,870,657) (7,840,000)
Policy loans (728,348) (838,053)
Total cost of investments acquired (26,276,629) (43,880,514)
Net cash provided by (used in) investing activities 10,823,454 (3,271,074)
Cash flows from financing activities:    
Policyholder contract deposits 3,455,489 3,303,536
Policyholder contract withdrawals (3,400,630) (4,327,607)
Proceeds from notes payable/line of credit 19,500,000 0
Payments of principal on notes payable/line of credit (35,500,000) 0
Purchase of treasury stock (605,230) (394,712)
Non controlling contributions (distributions) of consolidated subsidiary 0 0
Net cash used in financing activities (16,550,371) (1,418,783)
Net increase (decrease) in cash and cash equivalents (6,004,183) (14,912,039)
Cash and cash equivalents at beginning of period 30,787,278 39,025,754
Cash and cash equivalents at end of period $ 24,783,095 $ 24,113,715