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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Insurance company operations:        
Net earned premium $ 3,455,879 $ 6,967,748 $ 8,904,931 $ 13,571,508
Net investment income 381,796 528,879 710,578 1,043,602
Net realized investment gains 40,577 106,410 102,310 161,809
Net realized gain on real estate sale 0 0 0 3,693,858
(losses) gains on equity securities (392,307) 14,615 (572,376) 166,281
Other income (loss) 34,551 54,465 124,291 27,714
Total insurance company operations 3,520,496 7,672,117 9,269,734 18,664,772
Other insurance operations:        
Gross commissions and fees 226,736 415,711 540,386 849,172
Finance charges and fees earned 722 44,772 7,020 89,770
Other income (loss), net 142 5 1,691 546
Total revenues 3,748,096 8,132,605 9,818,831 19,604,260
EXPENSES        
Losses and loss adjustment expenses 2,148,384 6,084,707 8,979,888 11,669,920
Policy acquisition costs (493,017) 1,105,545 (207,376) 2,127,510
Salaries and employee benefits 251,468 1,205,630 1,109,872 2,333,721
Commissions to agents/brokers 25,257 20,434 44,444 41,002
Other operating expenses 1,257,143 1,147,124 2,796,603 2,320,602
Total expenses 3,189,235 9,563,440 12,723,431 18,492,755
Income (loss) before taxes 558,861 (1,430,835) (2,904,600) 1,111,505
Income tax (expense) benefit (346,940) 24,024 (894,241) (250,612)
Net income (loss) $ 211,921 $ (1,406,811) $ (3,798,841) $ 860,893
Basic and Diluted        
Income (loss) per share $ 0.04 $ (0.27) $ (0.72) $ 0.16
Weighted average shares 5,304,863 5,304,885 5,304,863 5,304,885