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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
REVENUES        
Net earned premium $ 7,737,622 $ 7,124,272 $ 21,309,130 $ 20,805,517
Net investment income 427,244 477,145 1,470,846 1,487,335
Net realized investments gains 57,173 38,214 218,982 39,789
Net realized gains on real estate sale 0 0 3,693,858 0
Net unrealized investments gains (losses) on equity securities (147,722) (19,670) (18,559) (42,629)
Other income 95,330 74,784 123,044 278,544
Total Insurance Company Operation 8,169,647 7,734,085 26,834,419 22,653,814
Other insurance operations:        
Gross commissions and fees 385,548 461,540 1,234,720 1,388,494
Finance charges and fees earned 40,458 56,985 130,228 191,690
Other income (5) (7,076) (541) (7,096)
Total Revenues 8,595,648 8,259,686 28,199,908 24,241,094
EXPENSES        
Losses and loss adjustment expenses 6,851,898 17,320,051 18,521,818 28,086,342
Policy acquisition costs 1,951,053 1,279,703 4,078,563 3,626,154
Salaries and employee benefits 1,171,944 2,584,478 3,505,665 4,958,900
Commissions to agents/brokers 20,022 23,235 61,024 73,190
Other operating expenses 1,051,350 1,398,135 3,371,952 3,372,483
Total Expenses 11,046,267 22,605,602 29,539,022 40,117,069
Loss before taxes (2,450,619) (14,345,916) (1,339,114) (15,875,975)
Income tax expense 59,579 3,594,572 310,191 3,543,153
Net Loss $ (2,510,198) $ (17,940,488) $ (1,649,305) $ (19,419,128)
Basic and Diluted        
Loss per share $ (0.47) $ (3.38) $ (0.31) $ (3.66)
Weighted average shares 5,304,863 5,305,742 5,304,878 5,306,068