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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income (loss) $ 9,219,037 $ 14,198,719
Adjustments to reconcile net income to net cash used in operating activities:    
Amortization (accretion) of investments (48,692) (49,401)
Realized investment gains (losses), net (4,780,149) (145,046)
Change in fair value of equity securities (8,154,629) (20,179,879)
Unrealized trading (gains) losses included in income 470 (2,734)
Realized trading (gains) losses included in income 2,516 (10,954)
Amortization of cost of insurance acquired 172,087 178,743
Depreciation and depletion 327,883 624,797
Stock-based compensation 486,797 153,765
Charges for mortality and administration of universal life and annuity products (1,500,108) (1,603,750)
Interest credited to account balances 948,325 987,251
Change in accrued investment income 286,260 122,188
Change in reinsurance receivables (21,913) 413,486
Change in policy liabilities and accruals (1,067,549) (1,416,401)
Change in income taxes receivable (payable) 1,049,842 (1,216,970)
Change in other assets and liabilities, net 904,101 4,260,542
Net cash used in operating activities (2,175,722) (3,685,644)
Proceeds from investments sold and matured:    
Fixed maturities available for sale 6,021,700 505,000
Equity securities 2,517,691 541,790
Trading securities 9,501 8,492
Mortgage loans 281,974 1,212,205
Real estate 6,573,943 589,785
Notes receivable 3,844,443 322,411
Policy loans 275,914 244,121
Total proceeds from investments sold and matured 19,525,166 3,423,804
Cost of investments acquired:    
Fixed maturities available for sale (50,000) (20,000)
Equity securities (3,913,832) (8,468,969)
Trading securities (8,311) (4,232)
Mortgage loans (1,546,165) (387,039)
Real estate (1,680,959) (780,781)
Notes receivable (2,060,657) 0
Policy loans (207,030) (196,034)
Total cost of investments acquired (9,466,954) (9,857,055)
Net cash provided by (used in) investing activities 10,058,212 (6,433,251)
Cash flows from financing activities:    
Policyholder contract deposits 1,278,889 1,195,495
Policyholder contract withdrawals (1,416,469) (1,820,928)
Payments of principal on notes payable/line of credit (14,000,000) 0
Purchase of treasury stock (267,433) (112,856)
Non controlling contributions (distributions) of consolidated subsidiary (3) 0
Net cash used in financing activities (14,405,016) (738,289)
Net increase (decrease) in cash and cash equivalents (6,522,526) (10,857,184)
Cash and cash equivalents at beginning of period 30,787,278 39,025,754
Cash and cash equivalents at end of period $ 24,264,752 $ 28,168,570