Note 20 - Shareholder's Equity

12 Months Ended

Dec. 31, 2021

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

The Company is authorized to issue 50,000,000 shares of zero par value common stock. There were 22,882,614 and 22,211,069 shares of common stock outstanding at December 31, 2021 and December 31, 2020, respectively.

There were no dividends declared during the years ended December 31, 2021 and December 31, 2020.

As described inNote 19, "Redeemable Class A Preferred Stock", during 2021 and 2020, 13,143 and 40,000 Preferred Shares, respectively, were converted into 82,143 and 250,000 common shares, respectively.  As a result, $0.3 million and $1.0 million was reclassified from redeemable Class A preferred stock to additional paid-in capital on the consolidated balance sheets at  December 31, 2021 and December 31, 2020, respectively.

There were 247,450 shares of treasury stock outstanding at December 31, 2021 and December 31, 2020.  The Company records treasury stock at cost.

The Company has warrants outstanding, recorded in shareholders' equity, that will entitle each subscriber to purchase one common share of Kingsway for each warrant. During 2021, warrants to purchase 350,000 shares of common stock were exercised, resulting in cash proceeds of $1.8 million.  The following table summarizes information about warrants outstanding at December 31, 2021:

December 31, 2021
				Remaining Contractual		Number
Exercise Price		Date of Issue	Expiry Date	Life (in years)		Outstanding
$	5.00	16-Sep-13	15-Sep-23		1.71		2,930,790
$	5.00	3-Feb-14	15-Sep-23		1.71		1,642,975
			Total:		1.71		4,573,765