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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities:    
Net income (loss) attributable to common shareholders $ (2,394,288) $ 888,592
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Amortization (accretion) of investments 191,820 (553,517)
Realized investment gains, net (1,665,920) (5,923,373)
Unrealized trading (gains) losses included in income 111,531 0
Realized trading (gains) included in income (110,470) 0
Amortization of cost of insurance acquired 629,328 654,738
Depreciation 515,132 500,538
Net income (loss) attributable to noncontrolling interest (63,117) 75,636
Charges for mortality and administration of universal life and annuity products (4,982,000) (2,116,902)
Interest credited to account balances 3,268,536 3,466,719
Change in accrued investment income 390,309 (152,822)
Change in reinsurance receivables 90,361 (22,291)
Change in policy liabilities and accruals (988,645) (1,897,222)
Change in income taxes receivable (payable) (167,359) (796,159)
Change in other assets and liabilities, net (1,927,847) 603,671
Net cash used in operating activities (7,102,629) (5,272,392)
Proceeds from investments sold and matured:    
Fixed maturities available for sale 17,036,549 26,829,015
Equity securities available for sale 3,401,217 4,506,115
Trading securities 0 72,279
Mortgage loans 860,187 3,482,189
Real estate 6,422,788 9,939,470
Notes receivable 2,035,706 2,778,401
Policy loans 1,481,824 1,465,996
Total proceeds from investments sold and matured 31,238,271 49,073,465
Cost of investments acquired:    
Fixed maturities available for sale (11,603,539) (7,919,941)
Equity securities available for sale (2,471,066) (2,475,777)
Trading securities 0 (70,690)
Mortgage loans (360,531) (6,922,723)
Real estate (2,473,761) (11,937,317)
Notes receivable (2,797,853) (7,144,707)
Policy loans (1,081,284) (1,018,958)
Total cost of investments acquired (20,788,034) (37,490,113)
Net cash provided by investing activities 10,450,237 11,583,352
Cash flows from financing activities:    
Policyholder contract deposits 3,641,050 407,633
Policyholder contract withdrawals (3,733,565) (3,434,052)
Proceeds from notes payable/line of credit 0 2,900,000
Payments of principal on notes payable/line of credit (1,450,000) 0
Purchase of treasury stock (396,628) (5,296,904)
Issuance of stock 197,488 246,933
Non controlling contributions (distributions) of consolidated subsidiary (772,754) (123,016)
Net cash used in financing activities (2,514,409) (5,299,406)
Net increase in cash and cash equivalents 833,199 1,011,554
Cash and cash equivalents at beginning of period 15,156,548 [1] 11,822,615
Cash and cash equivalents at end of period $ 15,989,747 $ 12,834,169
[1] Balance sheet audited at December 31, 2016.