XML 38 R2.htm IDEA: XBRL DOCUMENT v3.3.0.814
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2015
Dec. 31, 2014
Investments held in trust, at fair value:    
Fixed-maturity securities, at fair value $ 106,005 $ 60,641
Cash equivalents held in trust 5,353 11,122
Total investments held in trust 37,493 63,700
Cash and cash equivalents 15,350 78,009
Restricted cash 582,374 2,447
Accrued investment income 283 476
Deferred offering costs   2,568
Other assets 859 876
Total assets 710,224 156,139
Liabilities:    
Notes payable - principal 28,808 31,220
Notes payable - interest 312 338
Losses and loss adjustment reserves 6,582 18,947
Losses payable 146 696
Unearned premiums 836 1,094
Accrued ceding commissions 36 44
Loss contract fair market value reserve 9,766 12,549
Derivative liability - embedded conversion feature 132,144  
Other liabilities 25,339 3,021
Total liabilities $ 203,969 $ 67,909
Commitments and contingencies
Redeemable convertible series B preferred stock, $0.00001 par value; 600,000 and zero shares issued and outstanding as of September 30, 2015 and December 31, 2014, respectively; aggregate liquidation preference of $600,000,000 and zero as of September 30, 2015 and December 31, 2014, respectively $ 502,213  
Shareholders’ equity:    
Common stock, $0.00001 par value; 3,500,000,000 authorized; 206,168,035 and 202,343,245 shares issued and outstanding as of September 30, 2015 and December 31, 2014, respectively. 2 $ 2
Additional paid-in capital 107,589 106,628
Accumulated (deficit) (103,549) (18,400)
Total shareholders’ equity 4,042 88,230
Total liabilities, redeemable convertible preferred stock and shareholders’ equity $ 710,224 $ 156,139
Convertible Series A Preferred Stock [Member]    
Shareholders’ equity:    
Convertible preferred stock value
Fixed-Maturity Securities Held in Trust [Member]    
Investments held in trust, at fair value:    
Fixed-maturity securities, at fair value $ 32,140 $ 52,578
Unrestricted Fixed-Maturity Securities [Member]    
Investments held in trust, at fair value:    
Fixed-maturity securities, at fair value $ 73,865 $ 8,063