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v3.8.0.1

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016
Revenues: |  |  |  |
Premiums earned | $ 344 | $ 786 | $ 1,103 | $ 2,426
Net investment income | 1,943 | 498 | 4,826 | 1,747
Total revenues | 2,287 | 1,284 | 5,929 | 4,173
Operating expenses: |  |  |  |
Losses and loss adjustment expense | 48 | 183 | 207 | 702
Ceding commission expense | 44 | 75 | 137 | 234
General and administrative expense | 2,117 | 1,357 | 5,915 | 4,878
Loss contract reserve reduction | (210) | (565) | (5,645) | (2,362)
Interest expense | 579 | 636 | 1,788 | 1,994
Total operating expenses | 2,578 | 1,686 | 2,402 | 5,446
Net operating (loss) income | (291) | (402) | 3,527 | (1,273)
Other (income) expense: |  |  |  |
Other (income) | (123) |  | (123) |
Unrealized (gain) loss on change in fair value of derivative embedded conversion feature | (38,579) | 16,243 | (31,226) | (62,587)
Total other (income) expense | (38,702) | 16,243 | (31,349) | (62,587)
Income (loss) before income taxes | 38,411 | (16,645) | 34,876 | 61,314
Net income (loss) | 38,411 | (16,645) | 34,876 | 61,314
Redeemable convertible series B preferred stock dividends | (4,500) | (4,500) | (13,500) | (13,500)
Net income (loss) attributable to common and participating stockholders | $ 33,911 | $ (21,145) | $ 21,376 | $ 47,814
Basic net income (loss) per share attributable to common stockholders (Note 12) | $ 0.06 | $ (0.10) | $ 0.04 | $ 0.10
Shares used in computing basic net income (loss) per share | 202,660,492 | 202,341,209 | 202,573,315 | 202,247,275
Diluted net income (loss) per share attributable to common stockholders (Note 12) | $ 0.06 | $ (0.10) | $ 0.04 | $ 0.09
Shares used in computing diluted net income (loss) per share | 212,726,121 | 202,341,209 | 212,638,944 | 237,575,014

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