Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2020 | May 01, 2020 | |
Document Information [Line Items] | ||
Entity Registrant Name | AMERINST INSURANCE GROUP LTD | |
Entity Central Index Key | 0001065201 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Interactive Data Current | Yes | |
Entity Common Stock, Shares Outstanding (in shares) | 995,253 | |
Entity Shell Company | false | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2020 | |
Document Fiscal Year Focus | 2020 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false | |
Title of 12(g) Security | COMMON SHARES, PAR VALUE $1.00 PER SHARE |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Mar. 31, 2020 | Dec. 31, 2019 |
ASSETS | ||
Fixed maturity investments, at fair value (amortized cost $16,013,453 and $15,564,687) | $ 16,345,857 | $ 15,668,317 |
Equity securities, at fair value (cost $10,464,969 and $10,889,683) | 9,907,745 | 15,365,299 |
TOTAL INVESTMENTS | 26,253,602 | 31,033,616 |
Cash and cash equivalents | 6,036,355 | 6,589,810 |
Restricted cash and cash equivalents | 856,185 | 1,169,805 |
Assumed reinsurance premiums receivable | 3,314,072 | 5,695,847 |
Accrued investment income | 135,313 | 104,935 |
Property and equipment | 1,162,243 | 1,105,513 |
Deferred income taxes | 2,503,000 | 2,564,000 |
Deferred policy acquisition costs | 2,235,859 | 1,964,052 |
Prepaid expenses and other assets | 1,967,850 | 2,019,622 |
TOTAL ASSETS | 44,464,479 | 52,247,200 |
LIABILITIES | ||
Unpaid losses and loss adjustment expenses | 15,616,998 | 13,966,044 |
Unearned premiums | 6,042,849 | 5,308,398 |
Assumed reinsurance payable | 1,226,326 | 6,756,177 |
Accrued expenses and other liabilities | 5,490,463 | 5,873,130 |
TOTAL LIABILITIES | 28,376,636 | 31,903,749 |
COMMITMENTS AND CONTINGENCIES | ||
SHAREHOLDERS’ EQUITY | ||
Common shares, $1 par value, 2020 and 2019: 2,000,000 shares authorized, 995,253 issued and outstanding | 995,253 | 995,253 |
Additional paid-in-capital | 6,453,821 | 6,465,776 |
Retained earnings | 17,364,812 | 21,842,409 |
Accumulated other comprehensive income (loss) | 332,404 | 103,630 |
Shares held by Subsidiary (369,576 and 369,576 shares) at cost | (9,058,447) | (9,063,617) |
TOTAL SHAREHOLDERS’ EQUITY | 16,087,843 | 20,343,451 |
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | $ 44,464,479 | $ 52,247,200 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) | Mar. 31, 2020 | Dec. 31, 2019 |
Fixed maturity investments, amortized cost | $ 16,013,453 | $ 15,564,687 |
Equity securities, cost | $ 10,464,969 | $ 10,889,683 |
Common shares, par value (in dollars per share) | $ 1 | $ 1 |
Common shares, shares authorized (in shares) | 2,000,000 | 2,000,000 |
Common shares, issued (in shares) | 995,253 | 995,253 |
Common shares, outstanding (in shares) | 995,253 | 995,253 |
Shares held by Subsidiary (in shares) | 369,576 | 369,576 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations, Comprehensive (Loss) Income and Retained Earnings (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
REVENUE | ||
Net premiums earned | $ 2,579,616 | $ 2,463,583 |
Commission income | 1,637,601 | 1,555,804 |
Net investment income | 111,811 | 123,042 |
Net realized and unrealized (loss) gain on investments | (4,377,990) | 1,747,325 |
TOTAL REVENUE | (48,962) | 5,889,754 |
LOSSES AND EXPENSES | ||
Losses and loss adjustment expenses | 1,650,954 | 1,576,693 |
Policy acquisition costs | 954,397 | 911,708 |
Operating and management expenses | 1,762,284 | 1,731,642 |
TOTAL LOSSES AND EXPENSES | 4,367,635 | 4,220,043 |
NET (LOSS) INCOME BEFORE TAX | (4,416,597) | 1,669,711 |
Income tax expense | 61,000 | |
NET (LOSS) INCOME AFTER TAX | (4,477,597) | 1,669,711 |
OTHER COMPREHENSIVE INCOME | ||
Net unrealized holding gains (losses) arising during the period | 311,235 | 140,409 |
Reclassification adjustment for (gains) included in net (loss) income | (82,461) | |
OTHER COMPREHENSIVE INCOME | 228,774 | 140,409 |
COMPREHENSIVE (LOSS) INCOME | (4,248,823) | 1,810,120 |
RETAINED EARNINGS, BEGINNING OF PERIOD | 21,842,409 | 19,725,581 |
Net (loss) income | (4,477,597) | 1,669,711 |
Dividends | ||
RETAINED EARNINGS, END OF PERIOD | $ 17,364,812 | $ 21,395,292 |
Net (loss) income per share | ||
Basic (in dollars per share) | $ (7.16) | $ 2.65 |
Diluted (in dollars per share) | (7.16) | 2.64 |
Dividends (in dollars per share) | ||
Weighted average number of shares outstanding for the entire period | ||
Basic (in shares) | 625,677 | 630,055 |
Diluted (in shares) | 625,677 | 632,143 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Shares Held By Subsidiary [Member] | Total |
Balance (in shares) at Dec. 31, 2018 | 995,253 | |||||
Balance at Dec. 31, 2018 | $ 6,393,730 | $ 19,725,581 | $ (218,348) | $ (8,941,051) | $ 17,955,165 | |
Net (loss) income | 1,669,711 | 1,669,711 | ||||
Unrealized gains on securities, net of reclassification adjustment | 140,409 | 140,409 | ||||
Purchase of shares by subsidiary, net | ||||||
Balance (in shares) at Mar. 31, 2019 | 995,253 | |||||
Balance at Mar. 31, 2019 | 6,393,730 | 21,395,292 | (77,939) | (8,941,051) | 19,765,285 | |
Balance (in shares) at Dec. 31, 2019 | 995,253 | |||||
Balance at Dec. 31, 2019 | 6,465,776 | 21,842,409 | 103,630 | (9,063,617) | 20,343,451 | |
Net (loss) income | (4,477,597) | (4,477,597) | ||||
Stock option awards expense | (11,955) | (11,955) | ||||
Unrealized gains on securities, net of reclassification adjustment | 228,774 | 228,774 | ||||
Purchase of shares by subsidiary, net | 5,170 | 5,170 | ||||
Balance (in shares) at Mar. 31, 2020 | 995,253 | |||||
Balance at Mar. 31, 2020 | $ 6,453,821 | $ 17,364,812 | $ 332,404 | $ (9,058,447) | $ 16,087,843 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
OPERATING ACTIVITIES | ||
Net Cash used in Operating Activities | $ (1,436,662) | $ (201,373) |
INVESTING ACTIVITIES | ||
Purchases of property and equipment | (49,932) | (275,837) |
Purchases of available-for-sale securities | (3,990,249) | (740,164) |
Proceeds from sales of available-for-sale securities | 1,567,518 | 175,704 |
Proceeds from redemptions of fixed maturity investments | 1,832,080 | |
Proceeds from maturities of fixed maturity investments | 1,205,000 | 1,250,000 |
Net Cash provided by Investing Activities | 564,417 | 409,703 |
FINANCING ACTIVITIES | ||
Purchase of shares by subsidiary, net | 5,170 | |
Net Cash provided by Financing Activities | 5,170 | |
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | (867,075) | 208,330 |
CASH, CASH EQUIVALENTS AND RESTRCITED CASH AT BEGINNING OF PERIOD | 7,759,615 | 5,971,046 |
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD | $ 6,892,540 | $ 6,179,376 |
Note 1 - Basis of Preparation a
Note 1 - Basis of Preparation and Consolidation | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | 1. The condensed consolidated financial statements included herein have been prepared by AmerInst Insurance Group, Ltd. (“AmerInst”) without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (the “Commission”). These financial statements reflect all adjustments consisting of normal recurring accruals, which are, in the opinion of management, necessary for a fair presentation of our financial position and results of operations as of the end of and for the periods presented in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). All intercompany transactions and balances have been eliminated on consolidation. These statements are condensed and do not December 31, 2019 10 New Accounting Pronouncements New Accounting Standards Adopted in 20 20 No 2020. Accounting Standards Not Financial Instruments Credit Losses-Measurement of Credit Losses on Financial Instruments In June 2016, 2016 13, not 2016 13. January 1, 2023. not |
Note 2 - Investments
Note 2 - Investments | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | 2. The cost or amortized cost, gross unrealized holding gains and losses, and estimated fair value of the Company’s fixed maturity investments, by major security type, and equity securities as of March 31, 2020 December 31, 2019 Cost or Gross Gross Estimated March 31, 20 20 Fixed maturity investments: U.S. government agency securities $ 3,081,758 $ 52,833 $ — $ 3,134,591 Obligations of U.S. states and political subdivisions 5,545,656 202,873 — 5,748,529 Corporate debt securities 7,386,039 93,391 (16,693 ) 7,462,737 Total fixed maturity investments 16,013,453 349,097 (16,693 ) 16,345,857 Equity securities 10,464,969 1,914,250 (2,471,474 ) 9,907,745 Total equity securities 10,464,969 1,914,250 (2,471,474 ) 9,907,745 Total investments $ 26,478,422 $ 2,263,347 $ (2,488,167 ) $ 26,253,602 Cost or Gross Gross Estimated December 31, 2019 Fixed maturity investments: U.S. government agency securities $ 4,731,181 $ 38,524 $ (1,086 ) $ 4,768,619 Obligations of U.S. states and political subdivisions 3,188,217 29,521 (5,936 ) 3,211,802 Corporate debt securities 7,645,289 45,080 (2,473 ) 7,687,896 Total fixed maturity investments 15,564,687 113,125 (9,495 ) 15,668,317 Equity securities 10,889,683 4,854,179 (378,563 ) 15,365,299 Total equity securities 10,889,683 4,854,179 (378,563 ) 15,365,299 Total investments $ 26,454,370 $ 4,967,304 $ (388,058 ) $ 31,033,616 The following tables summarize the Company’s fixed maturity and equity securities in an unrealized loss position and the aggregate fair value and gross unrealized loss by length of time the security has continuously been in an unrealized loss position: 12 months or greater Less than 12 months Total Estimated Unrealized Estimated Unrealized Estimated Unrealized March 31, 2020 Fixed maturity investments: U.S. government agency securities $ — $ — $ — $ — $ — $ — Obligations of states and political subdivisions — — — — — — Corporate debt securities 734,545 (8,079 ) 819,759 (8,614 ) 1,554,304 (16,693 ) Total fixed maturity investments 734,545 (8,079 ) 819,759 (8,614 ) 1,554,304 (16,693 ) Equity securities 945,987 (768,989 ) 4,113,355 (1,702,485 ) 5,059,342 (2,471,474 ) Total equity securities 945,987 (768,989 ) 4,113,355 (1,702,485 ) 5,059,342 (2,471,474 ) Total investments $ 1,680,532 $ (777,068 ) $ 4,933,114 $ (1,711,099 ) $ 6,613,646 $ (2,488,167 ) 8 12 months or greater Less than 12 months Total Estimated Unrealized Estimated Unrealized Estimated Unrealized December 31, 2019 Fixed maturity investments: U.S. government agency securities $ — $ — $ 1,528,838 $ (1,086 ) $ 1,528,838 $ (1,086 ) Obligations of states and political subdivisions — — 601,053 (5,936 ) 601,053 (5,936 ) Corporate debt securities 743,360 (2,473 ) — — 743,360 (2,473 ) Total fixed maturity investments 743,360 (2,473 ) 2,129,891 (7,022 ) 2,873,251 (9,495 ) Equity securities 336,321 (119,313 ) 1,496,152 (259,250 ) 1,832,473 (378,563 ) Total equity securities 336,321 (119,313 ) 1,496,152 (259,250 ) 1,832,473 (378,563 ) Total investments $ 1,079,681 $ (121,786 ) $ 3,626,043 $ (266,272 ) $ 4,705,724 $ (388,058 ) As of March 31, 2020 December 31, 2019, four eight $1,554,304 $2,873,251, March 31, 2020 December 31, 2019, two two 12 March 31, 2020 December 31, 2019, none not not not Other-Than-Temporary Impairment Process The Company assesses whether declines in the fair value of its fixed maturity investments classified as available-for-sale represent impairments that are other-than-temporary by reviewing each fixed maturity investment that is impaired and ( 1 not 2 The Company had no March 31, 2020. not In evaluating credit losses, the Company considers a variety of factors in the assessment of a fixed maturity investment including: ( 1 2 3 4 5 6 If we conclude a fixed income investment is other-than-temporarily impaired, we write down the amortized cost of the security to fair value, with a charge to net realized investment gains (losses) in the Consolidated Statement of Operations. Gross unrealized losses on the investment portfolio as of March 31, 2020 December 31, 2019, 4 8 $16,693 $9,495, not three March 31, 2020, no Fair Value of Investments Under existing U.S. GAAP, we are required to recognize certain assets at their fair value in our consolidated balance sheets. This includes our fixed maturity investments and equity securities. In accordance with the Fair Value Measurements and Disclosures Topic of Financial Accounting Standards Board’s Accounting Standards Codification (“ASC”) 820, 820 three 1 3 three • Level 1 • Level 2 2 not • Level 3 At each measurement date, we estimate the fair value of the security using various valuation techniques. We utilize, to the extent available, quoted market prices in active markets or observable market inputs in estimating the fair value of our investments. When quoted market prices or observable market inputs are not March 31, 2020 December 31, 2019 • U.S. government agency securities 2 not • Obligations of state and political subdivisions 2 not • Corporate debt securities 2 not • Equity securities, at fair value 1 While we obtain pricing from independent pricing services, management is ultimately responsible for determining the fair value measurements for all securities. To ensure fair value measurement is applied consistently and in accordance with U.S. GAAP, we periodically update our understanding of the pricing methodologies used by the independent pricing services. We also undertake further analysis with respect to prices we believe may not not There have been no December 31, 2019. 820 March 31, 2020 December 31, 2019: Fair value measurement using: Carrying Total fair Quoted prices Significant Significant March 31, 2020 U.S. government agency securities $ 3,134,591 $ 3,134,591 $ — $ 3,134,591 $ — Obligations of U.S. state and political subdivisions 5,748,529 5,748,529 5,748,529 Corporate debt securities 7,462,737 7,462,737 7,462,737 Total fixed maturity investments 16,345,857 16,345,857 Equity securities 9,907,745 9,907,745 9,907,745 Total equity securities 9,907,745 9,907,745 Total investments $ 26,253,602 $ 26,253,602 $ 9,907,745 $ 16,345,857 $ — Fair value measurement using: Carrying Total fair Quoted prices Significant Significant December 31, 2019 U.S. government agency securities $ 4,768,619 $ 4,768,619 $ — $ 4,768,619 $ — Obligations of U.S. state and political subdivisions 3,211,802 3,211,802 3,211,802 Corporate debt securities 7,687,896 7,687,896 7,687,896 Total fixed maturity investments 15,668,317 15,668,317 Equity securities 15,365,299 15,365,299 15,365,299 Total equity securities 15,365,299 15,365,299 Total investments $ 31,033,616 $ 31,033,616 $ 15,365,299 $ 15,668,317 $ — There were no 1 2 three March 31, 2020 December 31, 2019. Contractual Maturities The cost or amortized cost and estimated fair value of fixed maturity investments as of March 31, 2020 December 31, 2019 may may Amortized Estimated March 31, 2020 Due in one year or less $ 2,328,010 $ 2,336,269 Due after one year through five years 11,861,975 12,085,899 Due after five years through ten years 1,360,640 1,445,480 Due after ten years 462,828 478,209 Total $ 16,013,453 $ 16,345,857 Amortized Estimated December 31, 2019 Due in one year or less $ 2,539,709 $ 2,542,229 Due after one year through five years 12,518,738 12,619,593 Due after five years through ten years 506,240 506,495 Total $ 15,564,687 $ 15,668,317 Information on sales and maturity of investments and net unrealized gains (losses) on equity investments during the three March 31, 2020 2019 March 31, 2020 March 31, 2019 Total proceeds on sales of available-for-sale securities $ 1,567,518 $ 175,704 Total proceeds from redemptions of fixed maturity investments 1,832,080 — Total proceeds from maturities of fixed maturity investments 1,205,000 1,250,000 Gross gains on sales 823,322 38,068 Gross losses on sales (168,473 ) (12,546 ) Net unrealized gains (losses) on equity investments (5,032,839 ) 1,721,803 Total $ (4,377,990 ) $ 1,747,325 Net Investment Income Major categories of net investment income during the three March 31, 2020 2019 March 31, 2020 March 31, 2019 Interest earned: Fixed maturity investments $ 89,273 $ 84,023 Short term investments and cash and cash equivalents 8,010 17,600 Dividends earned 42,732 47,477 Investment expenses (28,204 ) (26,058 ) Net investment income $ 111,811 $ 123,042 |
Note 3 - Liability for Unpaid L
Note 3 - Liability for Unpaid Losses and Loss Adjustment Expenses | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Liability for Future Policy Benefits and Unpaid Claims Disclosure [Text Block] | 3. The following table presents a reconciliation of the beginning and ending balances for the liability for unpaid losses and loss adjustment expenses for the three March 31, 2020 2019: March 31, 2020 March 31, 2019 Liability—beginning of year $ 13,966,044 $ 12,989,260 Incurred related to: Current year 1,650,954 1,576,693 Prior years — — Total incurred 1,650,954 1,576,693 Paid related to: Current year — — Prior years — — Total paid — — Liability—end of year $ 15,616,998 $ 14,565,953 As incurred losses for the three March 31, 2020 64.0% |
Note 4 - Segment Information
Note 4 - Segment Information | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 4. AmerInst has two 1 2 The tables below summarize the results of our reportable segments as of and for the three March 31, 2020 2019. As of and for the Three Months Ended March 31, 20 20 Reinsurance Insurance Total Revenues $ (1,689,893 ) $ 1,640,931 $ (48,962 ) Total losses and expenses 2,936,443 1,492,192 4,428,635 Segment (loss) income (4,626,336 ) 148,739 (4,477,597 ) Identifiable assets — 1,162,243 1,162,243 As of and for the Three Months Ended March 31, 2019 Reinsurance Reinsurance Total Revenues $ 4,321,441 $ 1,568,313 $ 5,889,754 Total losses and expenses 2,833,661 1,386,382 4,220,043 Segment income 1,487,780 181,931 1,669,711 Identifiable assets — 980,139 980,139 |
Note 5 - Stock Compensation
Note 5 - Stock Compensation | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | 5. Phantom Shares: Protexure Insurance Agency, Inc. (“Protexure”), a subsidiary of AmerInst, has employment agreements with three 63,765 may three March 31, 2020, no 76,403 March 31, 2020 December 31, 2019. For these three January 1, 2015. 65 The liability relating to these phantom shares is recalculated quarterly based on the net book value of our common shares at the end of each quarter. As a result of the overall decrease in the net book value of our common shares since the grant dates, we have not March 31, 2020. Stock Option Plan: The Company has a nonqualified stock option plan to advance the development, growth and financial condition of the Company. This plan provides incentives through participation in the appreciation of its common stock in order to secure, retain and motivate directors and employees and align such person’s interests with those of its shareholders. A total of 100,000 A summary of the status of the stock option plan as of March 31, 2020 Vested Weighted Non-vested Weighted Total Weighted Outstanding—January 1, 20 20 16,400 $ 28.34 28,600 $ 28.65 45,000 $ 28.54 Granted — — — — — — Forfeited — — — — — — Exercised — — — — — — Vested 8,400 28.42 (8,400 ) 28.42 — — Outstanding—March 31, 20 20 24,800 $ 28.37 20,200 $ 28.74 45,000 $ 28.54 Options exercisable at year end — — — — — — Weighted average fair value of options per share granted during the year — — $ — — $ — — Remaining contractual life (years) 3.0 3.1 3.0 A summary of the status of the stock option plan as of December 31, 2019 Vested Weighted Non-vested Weighted Total Weighted Outstanding—January 1, 2019 7,000 $ 27.99 40,000 $ 28.71 47,000 $ 28.60 Granted — — — — — — Forfeited — — (2,000 ) 30.14 (2,000 ) 30.14 Exercised — — — — — — Vested 9,400 28.60 (9,400 ) 28.60 — — Outstanding—December 31, 2019 16,400 $ 28.34 28,600 $ 28.65 45,000 $ 28.54 Options exercisable at year end — — — — — — Weighted average fair value of options per share granted during the year — — $ — — $ — — Remaining contractual life (years) 3.2 3.3 3.3 The Company accounts for these options in accordance with GAAP, which requires that the fair value of the equity awards be recognized as compensation expense over the period during which the employee is required to provide service in exchange for such an award. The Company is amortizing compensation expense over the vesting period, or five 11,955 $72,046 three March 31, 2020 December 31, 2019, |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2020 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | The condensed consolidated financial statements included herein have been prepared by AmerInst Insurance Group, Ltd. (“AmerInst”) without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (the “Commission”). These financial statements reflect all adjustments consisting of normal recurring accruals, which are, in the opinion of management, necessary for a fair presentation of our financial position and results of operations as of the end of and for the periods presented in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). All intercompany transactions and balances have been eliminated on consolidation. These statements are condensed and do not December 31, 2019 10 |
New Accounting Pronouncements, Policy [Policy Text Block] | New Accounting Pronouncements New Accounting Standards Adopted in 20 20 No 2020. Accounting Standards Not Financial Instruments Credit Losses-Measurement of Credit Losses on Financial Instruments In June 2016, 2016 13, not 2016 13. January 1, 2023. not |
Note 2 - Investments (Tables)
Note 2 - Investments (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | Cost or Gross Gross Estimated March 31, 20 20 Fixed maturity investments: U.S. government agency securities $ 3,081,758 $ 52,833 $ — $ 3,134,591 Obligations of U.S. states and political subdivisions 5,545,656 202,873 — 5,748,529 Corporate debt securities 7,386,039 93,391 (16,693 ) 7,462,737 Total fixed maturity investments 16,013,453 349,097 (16,693 ) 16,345,857 Equity securities 10,464,969 1,914,250 (2,471,474 ) 9,907,745 Total equity securities 10,464,969 1,914,250 (2,471,474 ) 9,907,745 Total investments $ 26,478,422 $ 2,263,347 $ (2,488,167 ) $ 26,253,602 Cost or Gross Gross Estimated December 31, 2019 Fixed maturity investments: U.S. government agency securities $ 4,731,181 $ 38,524 $ (1,086 ) $ 4,768,619 Obligations of U.S. states and political subdivisions 3,188,217 29,521 (5,936 ) 3,211,802 Corporate debt securities 7,645,289 45,080 (2,473 ) 7,687,896 Total fixed maturity investments 15,564,687 113,125 (9,495 ) 15,668,317 Equity securities 10,889,683 4,854,179 (378,563 ) 15,365,299 Total equity securities 10,889,683 4,854,179 (378,563 ) 15,365,299 Total investments $ 26,454,370 $ 4,967,304 $ (388,058 ) $ 31,033,616 |
Schedule of Unrealized Loss on Investments [Table Text Block] | 12 months or greater Less than 12 months Total Estimated Unrealized Estimated Unrealized Estimated Unrealized March 31, 2020 Fixed maturity investments: U.S. government agency securities $ — $ — $ — $ — $ — $ — Obligations of states and political subdivisions — — — — — — Corporate debt securities 734,545 (8,079 ) 819,759 (8,614 ) 1,554,304 (16,693 ) Total fixed maturity investments 734,545 (8,079 ) 819,759 (8,614 ) 1,554,304 (16,693 ) Equity securities 945,987 (768,989 ) 4,113,355 (1,702,485 ) 5,059,342 (2,471,474 ) Total equity securities 945,987 (768,989 ) 4,113,355 (1,702,485 ) 5,059,342 (2,471,474 ) Total investments $ 1,680,532 $ (777,068 ) $ 4,933,114 $ (1,711,099 ) $ 6,613,646 $ (2,488,167 ) 12 months or greater Less than 12 months Total Estimated Unrealized Estimated Unrealized Estimated Unrealized December 31, 2019 Fixed maturity investments: U.S. government agency securities $ — $ — $ 1,528,838 $ (1,086 ) $ 1,528,838 $ (1,086 ) Obligations of states and political subdivisions — — 601,053 (5,936 ) 601,053 (5,936 ) Corporate debt securities 743,360 (2,473 ) — — 743,360 (2,473 ) Total fixed maturity investments 743,360 (2,473 ) 2,129,891 (7,022 ) 2,873,251 (9,495 ) Equity securities 336,321 (119,313 ) 1,496,152 (259,250 ) 1,832,473 (378,563 ) Total equity securities 336,321 (119,313 ) 1,496,152 (259,250 ) 1,832,473 (378,563 ) Total investments $ 1,079,681 $ (121,786 ) $ 3,626,043 $ (266,272 ) $ 4,705,724 $ (388,058 ) |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Fair value measurement using: Carrying Total fair Quoted prices Significant Significant March 31, 2020 U.S. government agency securities $ 3,134,591 $ 3,134,591 $ — $ 3,134,591 $ — Obligations of U.S. state and political subdivisions 5,748,529 5,748,529 5,748,529 Corporate debt securities 7,462,737 7,462,737 7,462,737 Total fixed maturity investments 16,345,857 16,345,857 Equity securities 9,907,745 9,907,745 9,907,745 Total equity securities 9,907,745 9,907,745 Total investments $ 26,253,602 $ 26,253,602 $ 9,907,745 $ 16,345,857 $ — Fair value measurement using: Carrying Total fair Quoted prices Significant Significant December 31, 2019 U.S. government agency securities $ 4,768,619 $ 4,768,619 $ — $ 4,768,619 $ — Obligations of U.S. state and political subdivisions 3,211,802 3,211,802 3,211,802 Corporate debt securities 7,687,896 7,687,896 7,687,896 Total fixed maturity investments 15,668,317 15,668,317 Equity securities 15,365,299 15,365,299 15,365,299 Total equity securities 15,365,299 15,365,299 Total investments $ 31,033,616 $ 31,033,616 $ 15,365,299 $ 15,668,317 $ — |
Investments Classified by Contractual Maturity Date [Table Text Block] | Amortized Estimated March 31, 2020 Due in one year or less $ 2,328,010 $ 2,336,269 Due after one year through five years 11,861,975 12,085,899 Due after five years through ten years 1,360,640 1,445,480 Due after ten years 462,828 478,209 Total $ 16,013,453 $ 16,345,857 Amortized Estimated December 31, 2019 Due in one year or less $ 2,539,709 $ 2,542,229 Due after one year through five years 12,518,738 12,619,593 Due after five years through ten years 506,240 506,495 Total $ 15,564,687 $ 15,668,317 |
Realized Gain (Loss) on Investments [Table Text Block] | March 31, 2020 March 31, 2019 Total proceeds on sales of available-for-sale securities $ 1,567,518 $ 175,704 Total proceeds from redemptions of fixed maturity investments 1,832,080 — Total proceeds from maturities of fixed maturity investments 1,205,000 1,250,000 Gross gains on sales 823,322 38,068 Gross losses on sales (168,473 ) (12,546 ) Net unrealized gains (losses) on equity investments (5,032,839 ) 1,721,803 Total $ (4,377,990 ) $ 1,747,325 |
Condensed Cash Flow Statement [Table Text Block] | March 31, 2020 March 31, 2019 Interest earned: Fixed maturity investments $ 89,273 $ 84,023 Short term investments and cash and cash equivalents 8,010 17,600 Dividends earned 42,732 47,477 Investment expenses (28,204 ) (26,058 ) Net investment income $ 111,811 $ 123,042 |
Note 3 - Liability for Unpaid_2
Note 3 - Liability for Unpaid Losses and Loss Adjustment Expenses (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Liability For Losses and Loss Adjustment Expense Activity [Table Text Block] | March 31, 2020 March 31, 2019 Liability—beginning of year $ 13,966,044 $ 12,989,260 Incurred related to: Current year 1,650,954 1,576,693 Prior years — — Total incurred 1,650,954 1,576,693 Paid related to: Current year — — Prior years — — Total paid — — Liability—end of year $ 15,616,998 $ 14,565,953 |
Note 4 - Segment Information (T
Note 4 - Segment Information (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | As of and for the Three Months Ended March 31, 20 20 Reinsurance Insurance Total Revenues $ (1,689,893 ) $ 1,640,931 $ (48,962 ) Total losses and expenses 2,936,443 1,492,192 4,428,635 Segment (loss) income (4,626,336 ) 148,739 (4,477,597 ) Identifiable assets — 1,162,243 1,162,243 As of and for the Three Months Ended March 31, 2019 Reinsurance Reinsurance Total Revenues $ 4,321,441 $ 1,568,313 $ 5,889,754 Total losses and expenses 2,833,661 1,386,382 4,220,043 Segment income 1,487,780 181,931 1,669,711 Identifiable assets — 980,139 980,139 |
Note 5 - Stock Compensation (Ta
Note 5 - Stock Compensation (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Vested Weighted Non-vested Weighted Total Weighted Outstanding—January 1, 20 20 16,400 $ 28.34 28,600 $ 28.65 45,000 $ 28.54 Granted — — — — — — Forfeited — — — — — — Exercised — — — — — — Vested 8,400 28.42 (8,400 ) 28.42 — — Outstanding—March 31, 20 20 24,800 $ 28.37 20,200 $ 28.74 45,000 $ 28.54 Options exercisable at year end — — — — — — Weighted average fair value of options per share granted during the year — — $ — — $ — — Remaining contractual life (years) 3.0 3.1 3.0 Vested Weighted Non-vested Weighted Total Weighted Outstanding—January 1, 2019 7,000 $ 27.99 40,000 $ 28.71 47,000 $ 28.60 Granted — — — — — — Forfeited — — (2,000 ) 30.14 (2,000 ) 30.14 Exercised — — — — — — Vested 9,400 28.60 (9,400 ) 28.60 — — Outstanding—December 31, 2019 16,400 $ 28.34 28,600 $ 28.65 45,000 $ 28.54 Options exercisable at year end — — — — — — Weighted average fair value of options per share granted during the year — — $ — — $ — — Remaining contractual life (years) 3.2 3.3 3.3 |
Note 2 - Investments (Details T
Note 2 - Investments (Details Textual) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020USD ($) | Dec. 31, 2019USD ($) | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value, Total | $ 6,613,646 | $ 4,705,724 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss, Total | $ 2,488,167 | $ 388,058 |
Fixed Maturities [Member] | ||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total | 4 | 8 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value, Total | $ 1,554,304 | $ 2,873,251 |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | 2 | 2 |
Other than Temporary Impairment Losses, Investments, Available-for-sale Securities, Total | $ 0 | $ 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss, Total | $ 16,693 | $ 9,495 |
Note 2 - Investments - Cost or
Note 2 - Investments - Cost or Amortized Cost, Gross Unrealized Holding Gains and Losses, and Estimated Fair Value of Fixed Maturity Investments (Details) - USD ($) | Mar. 31, 2020 | Dec. 31, 2019 |
Cost or Amortized Cost | $ 26,478,422 | $ 26,454,370 |
Gross Unrealized Gains | 2,263,347 | 4,967,304 |
Gross Unrealized Losses | (2,488,167) | (388,058) |
Estimated Fair Value | 26,253,602 | 31,033,616 |
Fixed Maturities [Member] | ||
Cost or Amortized Cost | 16,013,453 | 15,564,687 |
Gross Unrealized Gains | 349,097 | 113,125 |
Gross Unrealized Losses | (16,693) | (9,495) |
Estimated Fair Value | 16,345,857 | 15,668,317 |
Fixed Maturities [Member] | US Government Agencies Debt Securities [Member] | ||
Cost or Amortized Cost | 3,081,758 | 4,731,181 |
Gross Unrealized Gains | 52,833 | 38,524 |
Gross Unrealized Losses | (1,086) | |
Estimated Fair Value | 3,134,591 | 4,768,619 |
Fixed Maturities [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Cost or Amortized Cost | 5,545,656 | 3,188,217 |
Gross Unrealized Gains | 202,873 | 29,521 |
Gross Unrealized Losses | (5,936) | |
Estimated Fair Value | 5,748,529 | 3,211,802 |
Fixed Maturities [Member] | Corporate Debt Securities [Member] | ||
Cost or Amortized Cost | 7,386,039 | 7,645,289 |
Gross Unrealized Gains | 93,391 | 45,080 |
Gross Unrealized Losses | (16,693) | (2,473) |
Estimated Fair Value | 7,462,737 | 7,687,896 |
Equity Securities [Member] | ||
Cost or Amortized Cost | 10,464,969 | 10,889,683 |
Gross Unrealized Gains | 1,914,250 | 4,854,179 |
Gross Unrealized Losses | (2,471,474) | (378,563) |
Estimated Fair Value | 9,907,745 | 15,365,299 |
Equity Securities and Hedge Funds [Member] | ||
Cost or Amortized Cost | 10,464,969 | 10,889,683 |
Gross Unrealized Gains | 1,914,250 | 4,854,179 |
Gross Unrealized Losses | (2,471,474) | (378,563) |
Estimated Fair Value | $ 9,907,745 | $ 15,365,299 |
Note 2 - Investments - Fixed Ma
Note 2 - Investments - Fixed Maturity and Securities in an Unrealized Loss Position and Aggregate Fair Value and Gross Unrealized Loss (Details) - USD ($) | Mar. 31, 2020 | Dec. 31, 2019 |
12 months or greater, estimated fair value | $ 1,680,532 | $ 1,079,681 |
12 months or greater, unrealized losses | (777,068) | (121,786) |
Less than 12 months, estimated fair value | 4,933,114 | 3,626,043 |
Less than 12 months, unrealized losses | (1,711,099) | (266,272) |
Total estimated fair value | 6,613,646 | 4,705,724 |
Total unrealized losses | (2,488,167) | (388,058) |
Fixed Maturities [Member] | ||
12 months or greater, estimated fair value | 734,545 | 743,360 |
12 months or greater, unrealized losses | (8,079) | (2,473) |
Less than 12 months, estimated fair value | 819,759 | 2,129,891 |
Less than 12 months, unrealized losses | (8,614) | (7,022) |
Total estimated fair value | 1,554,304 | 2,873,251 |
Total unrealized losses | (16,693) | (9,495) |
Equity Securities [Member] | ||
12 months or greater, estimated fair value | 945,987 | 336,321 |
12 months or greater, unrealized losses | (768,989) | (119,313) |
Less than 12 months, estimated fair value | 4,113,355 | 1,496,152 |
Less than 12 months, unrealized losses | (1,702,485) | (259,250) |
Total estimated fair value | 5,059,342 | 1,832,473 |
Total unrealized losses | (2,471,474) | (378,563) |
Equity Securities and Hedge Funds [Member] | ||
12 months or greater, estimated fair value | 336,321 | |
12 months or greater, unrealized losses | (119,313) | |
Less than 12 months, estimated fair value | 1,496,152 | |
Less than 12 months, unrealized losses | (259,250) | |
Total estimated fair value | 1,832,473 | |
Total unrealized losses | (378,563) | |
US Government Agencies Debt Securities [Member] | Fixed Maturities [Member] | ||
12 months or greater, estimated fair value | ||
12 months or greater, unrealized losses | ||
Less than 12 months, estimated fair value | 1,528,838 | |
Less than 12 months, unrealized losses | (1,086) | |
Total estimated fair value | 1,528,838 | |
Total unrealized losses | (1,086) | |
US States and Political Subdivisions Debt Securities [Member] | Fixed Maturities [Member] | ||
12 months or greater, estimated fair value | ||
12 months or greater, unrealized losses | ||
Less than 12 months, estimated fair value | 601,053 | |
Less than 12 months, unrealized losses | (5,936) | |
Total estimated fair value | 601,053 | |
Total unrealized losses | (5,936) | |
Corporate Debt Securities [Member] | Fixed Maturities [Member] | ||
12 months or greater, estimated fair value | 734,545 | 743,360 |
12 months or greater, unrealized losses | (8,079) | (2,473) |
Less than 12 months, estimated fair value | 819,759 | |
Less than 12 months, unrealized losses | (8,614) | |
Total estimated fair value | 1,554,304 | 743,360 |
Total unrealized losses | (16,693) | $ (2,473) |
Equity Securities and Hedge Funds [Member] | ||
12 months or greater, estimated fair value | 945,987 | |
12 months or greater, unrealized losses | (768,989) | |
Less than 12 months, estimated fair value | 4,113,355 | |
Less than 12 months, unrealized losses | (1,702,485) | |
Total estimated fair value | 5,059,342 | |
Total unrealized losses | $ (2,471,474) |
Note 2 - Investments - Fair Val
Note 2 - Investments - Fair Value of Investments (Details) - USD ($) | Mar. 31, 2020 | Dec. 31, 2019 |
Total Investments | $ 26,253,602 | $ 31,033,616 |
Reported Value Measurement [Member] | ||
Total Investments | 26,253,602 | 31,033,616 |
Reported Value Measurement [Member] | Equity Securities and Hedge Funds [Member] | ||
Total Investments | 9,907,745 | 15,365,299 |
Reported Value Measurement [Member] | Fixed Maturities [Member] | ||
Total Investments | 16,345,857 | 15,668,317 |
Reported Value Measurement [Member] | Fixed Maturities [Member] | US Government Agencies Debt Securities [Member] | ||
Total Investments | 3,134,591 | 4,768,619 |
Reported Value Measurement [Member] | Fixed Maturities [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Total Investments | 5,748,529 | 3,211,802 |
Reported Value Measurement [Member] | Fixed Maturities [Member] | Corporate Debt Securities [Member] | ||
Total Investments | 7,462,737 | 7,687,896 |
Reported Value Measurement [Member] | Equity Securities [Member] | ||
Total Investments | 9,907,745 | 15,365,299 |
Estimate of Fair Value Measurement [Member] | ||
Total Investments | 26,253,602 | 31,033,616 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Total Investments | 16,345,857 | 15,668,317 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Total Investments | 9,907,745 | 15,365,299 |
Estimate of Fair Value Measurement [Member] | Equity Securities and Hedge Funds [Member] | ||
Total Investments | 9,907,745 | 15,365,299 |
Estimate of Fair Value Measurement [Member] | Fixed Maturities [Member] | ||
Total Investments | 16,345,857 | 15,668,317 |
Estimate of Fair Value Measurement [Member] | Fixed Maturities [Member] | US Government Agencies Debt Securities [Member] | ||
Total Investments | 3,134,591 | 4,768,619 |
Estimate of Fair Value Measurement [Member] | Fixed Maturities [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Total Investments | 3,134,591 | 4,768,619 |
Estimate of Fair Value Measurement [Member] | Fixed Maturities [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Total Investments | 5,748,529 | 3,211,802 |
Estimate of Fair Value Measurement [Member] | Fixed Maturities [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Total Investments | 5,748,529 | 3,211,802 |
Estimate of Fair Value Measurement [Member] | Fixed Maturities [Member] | Corporate Debt Securities [Member] | ||
Total Investments | 7,462,737 | 7,687,896 |
Estimate of Fair Value Measurement [Member] | Fixed Maturities [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Total Investments | 7,462,737 | 7,687,896 |
Estimate of Fair Value Measurement [Member] | Equity Securities [Member] | ||
Total Investments | 9,907,745 | 15,365,299 |
Estimate of Fair Value Measurement [Member] | Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Total Investments | $ 9,907,745 | $ 15,365,299 |
Note 2 - Investments - Cost o_2
Note 2 - Investments - Cost or Amortized Cost and Estimated Fair Value of Fixed Maturity Investments (Details) - USD ($) | Mar. 31, 2020 | Dec. 31, 2019 |
Due in one year or less, amortized cost | $ 2,328,010 | $ 2,539,709 |
Due in one year or less, fair value | 2,336,269 | 2,542,229 |
Due after one year through five years, amortized cost | 11,861,975 | 12,518,738 |
Due after one year through five years, fair value | 12,085,899 | 12,619,593 |
Due after five years through ten years, amortized cost | 1,360,640 | 506,240 |
Due after five years through ten years, fair value | 1,445,480 | 506,495 |
Due after ten years, amortized cost | 462,828 | |
Due after ten years, fair value | 478,209 | |
Total, amortized cost | 16,013,453 | 15,564,687 |
Total, fair value | $ 16,345,857 | $ 15,668,317 |
Note 2 - Investments - Sales an
Note 2 - Investments - Sales and Maturities of Investments (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Total proceeds on sales of available-for-sale securities | $ 1,567,518 | $ 175,704 |
Proceeds from redemptions of fixed maturity investments | 1,832,080 | |
Proceeds from maturities of fixed maturity investments | 1,205,000 | 1,250,000 |
Gross gains on sales | 823,322 | 38,068 |
Gross losses on sales | (168,473) | (12,546) |
Net unrealized gains (losses) on equity investments | (5,032,839) | 1,721,803 |
Total | $ (4,377,990) | $ 1,747,325 |
Note 2 - Investments - Major Ca
Note 2 - Investments - Major Categories of Net Interest and Dividend Income (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Fixed maturity investments | $ 89,273 | $ 84,023 |
Short term investments and cash and cash equivalents | 8,010 | 17,600 |
Dividends earned | 42,732 | 47,477 |
Investment expenses | (28,204) | (26,058) |
Net investment income | $ 111,811 | $ 123,042 |
Note 3 - Liability for Unpaid_3
Note 3 - Liability for Unpaid Losses and Loss Adjustment Expenses (Details Textual) | 3 Months Ended |
Mar. 31, 2020 | |
Estimated Loss Ratio | 64.00% |
Note 3 - Liability for Unpaid_4
Note 3 - Liability for Unpaid Losses and Loss Adjustment Expenses - Liability for Losses and Loss Adjustment Expense Activity (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Liability—beginning of year | $ 13,966,044 | $ 12,989,260 |
Incurred related to: | ||
Current year | 1,650,954 | 1,576,693 |
Prior years | ||
Total incurred | 1,650,954 | 1,576,693 |
Paid related to: | ||
Current year | ||
Prior years | ||
Total paid | ||
Liability—end of year | $ 15,616,998 | $ 14,565,953 |
Note 4 - Segment Information (D
Note 4 - Segment Information (Details Textual) | 3 Months Ended |
Mar. 31, 2020 | |
Number of Reportable Segments | 2 |
Note 4 - Segment Information -
Note 4 - Segment Information - Segment Reporting Information (Details) - USD ($) | 3 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | |
Revenues | $ (48,962) | $ 5,889,754 | |
Total losses and expenses | 4,367,635 | 4,220,043 | |
Segment (loss) income | (4,477,597) | 1,669,711 | |
Identifiable assets | 1,162,243 | 980,139 | $ 1,105,513 |
Reinsurance Segment [Member] | |||
Revenues | (1,689,893) | 4,321,441 | |
Total losses and expenses | 2,936,443 | 2,833,661 | |
Segment (loss) income | (4,626,336) | 1,487,780 | |
Identifiable assets | |||
Insurance Segment [Member] | |||
Revenues | 1,640,931 | 1,568,313 | |
Total losses and expenses | 1,492,192 | 1,386,382 | |
Segment (loss) income | 148,739 | 181,931 | |
Identifiable assets | $ 1,162,243 | $ 980,139 |
Note 5 - Stock Compensation (De
Note 5 - Stock Compensation (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Phantom Share Units (PSUs) [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 63,765 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 0 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance (in shares) | 76,403 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Value, Payable Requisite Employee Age (Year) | 65 years | |
Deferred Compensation Share-based Arrangements, Liability, Current and Noncurrent | $ 0 | |
Share-based Payment Arrangement, Option [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 5 years | |
Share-based Payment Arrangement, Expense | $ (11,955) | $ 72,046 |
Note 5 - Stock Compensation - S
Note 5 - Stock Compensation - Summary of the Status of the Stock Option Plan (Details) - $ / shares | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Balance, vested (in shares) | 16,400 | 7,000 |
Balance, weighted average exercise price per share (in dollars per share) | $ 28.34 | $ 27.99 |
Balance, non-vested shares (in shares) | 28,600 | 40,000 |
Balance, weighted average exercise price per share, non-vested (in dollars per share) | $ 28.65 | $ 28.71 |
Balance (in shares) | 45,000 | 47,000 |
Balance, weighted average exercise price (in dollars per share) | $ 28.54 | $ 28.60 |
Granted, non-vested shares (in shares) | ||
Granted, weighted average exercise price per share, non-vested (in dollars per share) | ||
Granted, weighted average exercise price (in dollars per share) | ||
Forfeited, non-vested shares (in shares) | (2,000) | |
Forfeited, weighted average exercise price per share, non-vested (in dollars per share) | $ (30.14) | |
Forfeited (in shares) | (2,000) | |
Forfeited, weighted average exercise price (in dollars per share) | $ 30.14 | |
Exercised (in shares) | ||
Exercised, weighted average exercise price (in dollars per share) | ||
Vested, vested (in shares) | 8,400 | 9,400 |
Vested, weighted average exercise price per share (in dollars per share) | $ 28.42 | $ 28.60 |
Vested, non-vested shares (in shares) | (8,400) | (9,400) |
Vested, weighted average exercise price per share, non-vested (in dollars per share) | $ 28.42 | $ 28.60 |
Balance, weighted average exercise price (in dollars per share) | $ 28.54 | $ 28.54 |
Options exercisable at year end, vested (in shares) | ||
Options exercisable at year end (in shares) | ||
Options exercisable at year end, weighted average exercise price (in dollars per share) | ||
Remaining contractual life (years), vested (Year) | 3 years | 3 years 73 days |
Remaining contractual life (years), non-vested shares (Year) | 3 years 36 days | 3 years 109 days |
Remaining contractual life (years), outstanding shares (Year) | 3 years | 3 years 109 days |
Balance, vested (in shares) | 24,800 | 16,400 |
Balance, weighted average exercise price per share (in dollars per share) | $ 28.37 | $ 28.34 |
Balance, non-vested shares (in shares) | 20,200 | 28,600 |
Balance, weighted average exercise price per share, non-vested (in dollars per share) | $ 28.74 | $ 28.65 |
Balance (in shares) | 45,000 | 45,000 |
Options exercisable at year end, weighted average exercise price per share, vested (in dollars per share) |