XML 17 R6.htm IDEA: XBRL DOCUMENT v3.25.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash Flows from Operating Activities:    
Net Loss $ (11,353,402) $ (6,536,974)
Adjustments to reconcile net loss to cash provided by operating activities:    
Amortization of right of use assets 4,262,830 4,019,643
Depreciation, amortization, and accretion 18,486,373 16,631,734
Deferred income taxes (1,740,082) (1,481,469)
Loss on disposition of assets 27,097 9,798
Bad debt expense 232,557 202,772
Equity in (income) loss of unconsolidated affiliates (3,256,015) 16,573,011
Amortization of bond premium (957,282) 0
Other investment loss (income) 12,806,569 (15,671,077)
Compensation paid in stock 701,753 999,057
Other 60,000 0
Changes in operating assets and liabilities exclusive of the effects of business combinations:    
Accounts receivable (2,685,489) (1,685,042)
Interest receivable 63,021 54,977
Prepaid expenses 114,962 305,445
Deferred policy acquisition costs (885,072) (320,491)
Other assets (280) (46,158)
Other liabilities, exclusive of debt (57,429) (64,883)
Accounts payable and accrued expenses (725,317) 206,076
Lease liabilities (4,317,131) (4,159,424)
Unearned premiums 1,072,271 2,591,658
Deferred revenue 200,259 488,538
Net Cash Provided by Operating Activities 12,050,193 12,117,191
Cash Flows from Investing Activities:    
Payments on short-term payables for business acquisitions (14,513) (59,399)
Investment in unconsolidated affiliate 0 (21,000)
Capital expenditures (19,583,132) (23,696,261)
Proceeds from sales of investments 205,042,679 291,799,774
Purchases of investments (187,722,934) (238,129,730)
Net Cash (Used in) Provided by Investing Activities (2,277,900) 29,893,384
Cash Flows from Financing Activities:    
Proceeds from the issuance of stock 525,256 0
Repurchase of stock (87,170) (18,141,551)
Proceeds from long term credit facility 7,500,000 10,000,000
Principal payments of long-term debt (1,743,081) (1,006,390)
Collateral receipt (release), net 3,645,158 (2,826,309)
Distributions to noncontrolling interests (4,723,417) (36,992,659)
Contributions from noncontrolling interests 145,822 87,166
Offering costs (3,286) 0
Net Cash Provided by (Used in) Financing Activities 5,259,282 (48,879,743)
Net Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash 15,031,575 (6,869,168)
Cash, Cash Equivalents, and Restricted Cash, Beginning of Period 41,197,426 39,413,204
Cash, Cash Equivalents, and Restricted Cash, End of Period 56,229,001 32,544,036
Interest Paid in Cash 1,771,133 1,045,577
Income Taxes Paid in Cash $ 21,419 $ 15,573