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v2.4.0.8

Condensed Consolidated Statements of Operations (Unaudited) (USD $) In Thousands, except Share data, unless otherwise specified | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013
Revenues: |  |  |  |
Premiums earned | $ 1,713 | $ 1,734 | $ 3,879 | $ 5,139
Net investment income (loss) | 437 | (2,708) | 1,105 | (2,012)
Total revenues | 2,150 | (974) | 4,984 | 3,127
Expenses: |  |  |  |
Losses and loss adjustment expense (benefit) | 2,885 | (4,214) | 3,989 | (1,300)
Ceding commission expense | 150 | 342 | 363 | 706
General and administrative expense | 2,016 | 1,614 | 3,463 | 3,034
Loss contract reserve fair market value change | (30,287) |  | (30,287) | (987)
Loss from contract termination | 6,563 |  | 6,563 |
Interest expense | 3,501 | 3,768 | 6,951 | 7,974
Total expenses | (15,172) | 1,510 | (8,958) | 9,427
Income (loss) before federal income taxes | 17,322 | (2,484) | 13,942 | (6,300)
Income tax expense (benefit) | 0 | 0 | 0 | 0
Net income (loss) | 17,322 | (2,484) | 13,942 | (6,300)
Preferred deemed dividend |  |  | (9,455) |
Net income (loss) attributable to common shareholders | $ 17,322 | $ (2,484) | $ 4,487 | $ (6,300)
Basic net income (loss) per share attributable to common shareholders | $ 0.09 | $ (0.01) | $ 0.02 | $ (0.03)
Shares used in computing basic net income (loss) per share | 200,999,481 | 200,385,364 | 200,738,227 | 200,221,425
Diluted net income (loss) per share attributable to common shareholders | $ 0.07 | $ (0.01) | $ 0.02 | $ (0.03)
Shares used in computing diluted net income (loss) per share | 243,587,216 | 200,385,364 | 235,963,104 | 200,221,425

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