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Related Party
9 Months Ended
Sep. 30, 2018
Related Party [Abstract]  
Related Party

9.     RELATED PARTY



Mr. John R. Klockau, a director of the Company, held two surplus notes from the Company totaling $1,150,000 which were converted into 115,000 shares of the Company’s common stock on March 17, 2017. John R. Klockau received a payment for interest on the surplus notes of $12,975 during the three months ended March 31, 2017. Additionally, Mr. Klockau is a claims consultant and was paid $10,560 and $10,350 as of September 30, 2018 and 2017, respectively, related to his services to the Company.



Mr. Kevin Clinton is a director of the Company and owns more than 10% of the Company’s outstanding shares of common stock. On September 7, 2018, the Company repurchased from the Clinton-Flood Purchasers, as previously defined in our final prospectus filed with the SEC on February 13, 2017, which includes Mr. Kevin Clinton 196,721 shares of the Company’s common stock at a price of $15.25 per share. The Clinton-Flood Purchasers received an aggregate payment of $2,999,995 during the three months ended September 30, 2018 related to the share repurchase. Mr. Clinton was paid $2,071 and $805 as of September 30, 2018 and 2017, respectively, for travel reimbursement costs.



Mr. Scott T. Burgess is a director of the Company and a Senior Managing Director of Griffin Financial Group (Griffin).  Mr. Burgess was paid $3,355, and $2,690 as of September 30, 2018 and 2017, respectively. Griffin was paid $0 and $893,240 as of September 30, 2018 and 2017, respectively.  Griffin and Stevens & Lee are affiliated. Stevens & Lee is a full-service law firm that was paid $85,841 and $46,286 as of September 30, 2018 and 2017, respectively.