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v3.4.0.3

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands | 3 Months Ended
--- | ---
Mar. 31, 2016 | Mar. 31, 2015
Revenues: |  |
Premiums earned | $ 849 | $ 1,349
Net investment income | 651 | 401
Total revenues | 1,500 | 1,750
Operating expenses: |  |
Losses and loss adjustment expense (benefit) | 387 | (541)
Ceding commission expense | 78 | 123
General and administrative expense | 2,029 | 2,973
Loss contract reserve fair market value change | (1,362) |
Interest expense | 693 | 954
Total operating expense | 1,825 | 3,509
Net operating loss | (325) | (1,759)
Other (income): |  |
Unrealized gain on change in fair value of derivative liability - embedded conversion feature | (55,875) | (7,260)
Total other (income): | (55,875) | (7,260)
Income before income taxes | 55,550 | 5,501
Net income | 55,550 | 5,501
Redeemable convertible series B preferred stock dividends | (4,500) | (4,248)
Net income attributable to common and participating stockholders | $ 51,050 | $ 1,253
Basic net income per share attributable to common stockholders | $ 0.11 | $ 0.00
Shares used in computing basic net income per share | 202,058,377 | 201,146,565
Diluted net income per share attributable to common stockholders | $ 0.10 | $ 0.00
Shares used in computing diluted net income per share | 237,999,718 | 236,508,697

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