v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income $ 29,806,043 $ 11,394,688
Adjustments to reconcile net income to net cash used in operating activities:    
Amortization (accretion) of investments 22,189 103,936
Realized investment gains, net (9,456,094) (1,026,768)
Change in fair value of equity securities (30,463,997) (15,033,564)
Change in allowance from credit losses 125,000 (15,000)
Amortization of cost of insurance acquired 305,073 307,083
Provision for deferred income taxes 5,619,051 3,328,371
Depreciation and depletion 872,470 757,782
Stock-based compensation 266,509 13,974
Charges for mortality and administration of universal life and annuity products (2,612,184) (2,703,990)
Interest credited to account balances 1,684,278 1,736,139
Change in accrued investment income (221,261) 124,419
Change in reinsurance receivables 185,218 590,423
Change in policy liabilities and accruals (418,092) (2,544,518)
Change in income taxes receivable (795,924) (215,485)
Change in other assets and liabilities, net (369,015) (1,131,472)
Net cash used in operating activities (5,450,736) (4,313,982)
Proceeds from investments sold and matured:    
Fixed maturities available for sale 2,234,462 5,500,000
Equity securities 25,352,362 3,344,765
Mortgage loans 1,639,001 2,005,832
Notes receivable 4,432,695 403,484
Real estate 0 88,151
Policy loans 443,176 564,552
Short-term investments 4,990,737 1,000,000
Total proceeds from investments sold and matured 39,092,433 12,906,784
Cost of investments acquired:    
Fixed maturities available for sale (1,706,386) (999,219)
Equity securities (3,637,742) (11,149,087)
Mortgage loans (14,579,860) (985,812)
Notes receivable 0 (1,318,133)
Real estate (120,000) (467,299)
Policy loans (339,460) (423,407)
Total cost of investments acquired (20,383,448) (15,342,957)
Net cash (used in) provided by investing activities 18,708,985 (2,436,173)
Cash flows from financing activities:    
Policyholder contract deposits 1,946,750 2,052,142
Policyholder contract withdrawals (2,728,789) (1,982,984)
Purchase of treasury stock (410,282) (203,553)
Net cash used in financing activities (1,192,321) (134,395)
Net increase (decrease) in cash and cash equivalents 12,065,928 (6,884,550)
Cash and cash equivalents at beginning of period 30,536,972 45,263,967
Cash and cash equivalents at end of period $ 42,602,900 $ 38,379,417