• Filing Date: 2020-03-23
  • Form Type: 10-K
  • Description: Annual report
v3.20.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Operating activities    
Net loss $ (305) $ (5,749)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 36 126
Net amortization of premiums on investments in fixed-maturity securities 0 7
Depreciation and amortization 10 18
Net realized investment (gains) losses (3) 255
Change in fair value of equity securities (25) 26
Loss attributable to noteholders 0 (2,000)
Change in operating assets and liabilities:    
Accrued interest and dividend receivable 3 24
Premiums receivable (506) 3,798
Deferred policy acquisition costs (48) 48
Prepayment and other receivables (5) 42
Reserve for losses and loss adjustment expenses (4,108) (728)
Loss experience refund payable 0 (135)
Losses payable 0 (386)
Unearned premiums reserve 440 (2,012)
Accounts payable and other liabilities 140 33
Net cash used in operating activities (4,371) (6,633)
Investing activities    
Purchase of fixed-maturity securities 0 (4,903)
Purchase of equity securities (505) (6,009)
Proceeds from sale of fixed-maturity securities 994 8,340
Proceeds from sale of equity securities 0 7,617
Purchase of property and equipment (1) 0
Net cash provided by investing activities 488 5,045
Financing activities    
Proceeds on issuance of notes payable to Series noteholders 600 2,000
Net cash provided by (used in) financing activities 600 2,000
Net change during the year (3,283) 412
Cash and cash equivalents, and restricted cash and cash equivalents at beginning of year 11,299 10,887
Cash and cash equivalents, and restricted cash and cash equivalents at end of year 8,016 11,299
Supplemental disclosure of cash flow information    
Interest paid 0 0
Income taxes paid 0 0
Non-cash investing activities    
Net change in unrealized loss on securities available for sale (2) 19
Operating lease right-of-use assets 155 0
Operating lease liabilities $ 149 $ 0