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Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Data (Unaudited)

20. Quarterly Financial Data (Unaudited)

Note 20 – Quarterly Financial Data (Unaudited)

The following is a summary of unaudited quarterly results of operations for the years ended December 31, 2020 and 2019:

		2020
		March 31,				June 30,				September 30,				December 31,				Total

Net premiums earned		$	26,941,450			$	26,636,856			$	27,521,081			$	26,981,242			$	108,080,629
Ceding commission revenue			3,831,099				3,480,214				3,448,774				3,442,266				14,202,353
Net investment income			1,665,844				1,612,006				1,494,086				1,733,667				6,505,603
Net gains (losses) on investments			(6,444,418	)			2,697,868				2,107,876				3,229,290				1,590,616
Total revenues			26,253,605				34,689,332				34,822,471				35,604,343				131,369,751
Loss and loss adjustment expenses			16,385,821				12,813,631				20,117,975				17,113,645				66,431,072
Commission expense and
other underwriting expenses			14,617,718				14,086,013				14,383,144				14,166,078				57,252,953
Net income (loss)			(5,444,203	)			4,608,190				(1,227,856	)			3,036,259				972,390
Basic earnings (loss) per share		$	(0.50	)		$	0.43			$	(0.12	)		$	0.28			$	0.09
Diluted earnings (loss) per share		$	(0.50	)		$	0.43			$	(0.12	)		$	0.28			$	0.09