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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities:    
Net (loss) income $ (71,901) $ 12,643
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:    
Amortization of premium or discount on fixed maturity securities 454 1,350
Net realized (gain) on sale of investments (319) (434)
Unrealized loss on trading securities 311 651
Unrealized loss on derivative liability - embedded conversion feature 65,917  
Equity-based compensation expense 961 600
Changes in assets and liabilities:    
Accrued investment income 193 379
Other assets 17 472
Change in cash equivalents held in trust 5,769 22,649
Change in restricted cash (579,927) 71
Losses and loss adjustment reserves (12,365) (22,148)
Losses payable (550) (1,875)
Unearned premiums (258) (238)
Accrued ceding commission expense (8) (54)
Accrued interest on notes payable (26) (814)
Loss contract fair market value reserve (2,783) (30,287)
Other liabilities 11,886 (710)
Total adjustments (510,728) (30,388)
Net cash (used in) operating activities: (582,629) (17,745)
Cash flows from investing activities:    
Purchase of investments (202,398) (431,113)
Proceeds from sales and maturities of investments 156,588 511,331
Net cash (used in) provided by investing activities: (45,810) 80,218
Cash flows from financing activities:    
Proceeds from issuance of preferred stock and warrants to purchase common stock 600,000 22,572
Fees incurred and paid relating to preferred stock and warrant issuance (19,310) (3,348)
Redeemable convertible series B preferred stock dividends paid in cash (12,498)  
Deferred offering costs   (12,166)
Notes payable – principal repayments (3,330) (78,890)
Notes payable – principal issued 918 3,718
Net cash provided by (used in) financing activities: 565,780 (68,114)
(Decrease) in cash and cash equivalents (62,659) (5,641)
Cash and cash equivalents, beginning of period 78,009 11,986
Cash and cash equivalents, end of period 15,350 6,345
Supplementary disclosure of cash flow information:    
Cash paid during the period, Interest 1,951 5,094
Supplementary disclosure of non-cash investing and financing activities:    
Embedded derivatives on preferred stock issuances 66,227  
Notes payable issued in lieu of cash interest payments 918 3,718
Non-cash redeemable convertible series B preferred stock dividends accrued 750  
Accrued fees relating to series B preferred stock issuance $ 12,250  
Preferred deemed dividend recorded due to beneficial conversion feature   $ 9,455