US Alliance 10-Q 4 Aug 17 2017 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Jul. 31, 2017
Document Information [Line Items]
Entity Registrant Name	US Alliance Corp
Entity Central Index Key	1,463,913
Trading Symbol	usac
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		5,636,367
Document Type	10-Q
Document Period End Date	Jun. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Amendment Flag	false

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Assets
Available for sale securities	$ 18,308,822	$ 15,463,578
Cash and cash equivalents	1,728,857	3,145,745
Investment income due and accrued	106,814	100,713
Reinsurance related assets	31,616	31,390
Deferred acquisition costs, net	213,636	153,792
Property, equipment and software, net	233,681	244,849
Other assets	301,851	51,922
Total assets	20,925,277	19,191,989
Liabilities:
Deposit-type contracts	4,191,021	3,398,170
Policyholder benefit reserves	5,017,874	4,220,215
Advance premiums	188,343	121,944
Total policy liabilities	9,397,238	7,740,329
Accounts payable and accrued expenses	140,456	66,472
Other liabilities	1,885	4,205
Total liabilities	9,539,579	7,811,006
Shareholders' Equity:
Common stock, $0.10 par value. Authorized 20,000,000 shares; issued and outstanding 5,624,063 and 5,565,943 shares as of June 30, 2017 and December 31, 2016, respectively	562,407	556,595
Additional paid-in capital	18,270,769	18,017,163
Accumulated deficit	(7,946,683)	(7,432,236)
Accumulated other comprehensive income	499,205	239,461
Total shareholders' equity	11,385,698	11,380,983
Total liabilities and shareholders' equity	20,925,277	19,191,989
Fixed Maturities [Member]
Assets
Available for sale securities	11,088,336	10,320,074
Equities, Including Equity Securities and Other Equity Investments [Member]
Assets
Available for sale securities	$ 7,220,486	$ 5,143,504

Consolidated Balance Sheets (C3

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Available for sale securities, amortized cost	$ 17,809,617	$ 15,224,117
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares authorized (in shares)	20,000,000	20,000,000
Common stock, shares issued (in shares)	5,624,063	5,565,943
Common stock, shares outstanding (in shares)	5,624,063	5,565,943
Fixed Maturities [Member]
Available for sale securities, amortized cost	$ 10,866,298	$ 10,318,164
Equities, Including Equity Securities and Other Equity Investments [Member]
Available for sale securities, amortized cost	$ 6,943,319	$ 4,905,953

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Premium income	$ 1,982,642	$ 1,873,464	$ 3,732,570	$ 3,230,836
Net investment income	170,099	112,450	296,119	203,711
Net realized gain (loss) on sale of securities	16,097	(74)	208,502	10,764
Other income	19,253	22,185	39,455	35,590
Total income	2,188,091	2,008,025	4,276,646	3,480,901
Expenses:
Death claims	293,570	216,737	686,158	333,264
Policyholder benefits	1,213,426	1,139,525	2,187,150	1,861,670
Increase in policyholder reserves	311,570	403,352	576,548	762,904
Commissions, net of deferrals	141,143	118,383	265,434	226,598
Amortization of deferred acquisition costs	46,461	51,642	84,225	89,099
Salaries & benefits	204,951	204,817	383,143	393,184
Other operating expenses	322,669	313,343	608,435	580,673
Total expense	2,533,790	2,447,799	4,791,093	4,247,392
Net loss	$ (345,699)	$ (439,774)	$ (514,447)	$ (766,491)
Net loss per common share, basic and diluted (in dollars per share)	$ (0.06)	$ (0.08)	$ (0.09)	$ (0.15)
Unrealized net holding gains arising during the period	$ 270,394	$ 403,993	$ 468,246	$ 686,410
Reclassification adjustment for (gains) losses included in net loss	(16,097)	74	(208,502)	(10,764)
Other comprehensive income	254,297	404,067	259,744	675,646
Comprehensive loss	$ (91,402)	$ (35,707)	$ (254,703)	$ (90,845)

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Warrant [Member]	Common Stock Subscribed [Member]	Subscription Receivable [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
Balance at Jun. 30, 2016	$ 555,135	$ 18,017,275				$ 575,169	$ (6,912,954)	$ 12,234,625
Balance (in shares) at Dec. 31, 2015	5,177,245
Balance at Dec. 31, 2015	$ 517,725	17,018,285	15,876	13,799	(827,952)	(100,477)	(6,146,463)	$ 10,490,793
Common stock issued upon exercise of warrants, $6.00 per share (in shares)	372,003							372,003
Common stock issued upon exercise of warrants, $6.00 per share	$ 37,200	2,210,694	(15,876)					$ 2,232,018
Common stock issued, $7 per share (in shares)	2,100
Common stock issued, $7 per share	$ 210	14,490						14,700
Costs associated with common stock issued		(412,041)						(412,041)
Common stock subscribed		(814,153)		(13,799)	827,952
Other comprehensive income						675,646		675,646
Net loss							(766,491)	(766,491)
Balance (in shares) at Jun. 30, 2016	5,551,348
Balance at Jun. 30, 2017	$ 562,407	18,270,769				499,205	(7,946,683)	11,385,698
Balance (in shares) at Dec. 31, 2016	5,565,943
Balance at Dec. 31, 2016	$ 556,595	18,017,163				239,461	(7,432,236)	11,380,983
Common stock issued, $7 per share (in shares)	58,120
Common stock issued, $7 per share	$ 5,812	401,028						406,840
Costs associated with common stock issued		(147,422)						(147,422)
Other comprehensive income						259,744		259,744
Net loss							$ (514,447)	$ (514,447)
Balance (in shares) at Jun. 30, 2017	5,624,063

Consolidated Statements of Cha6

Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parentheticals) - $ / shares	Jun. 30, 2017	Jun. 30, 2016
Warrant [Member]
Warrants, exercise price per share (in dollars per share)		$ 6
Common Stock [Member]
Common stock, price per share (in dollars per share)		$ 7
Common stock, price per share (in dollars per share)	$ 7

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Cash Flows from Operating Activities:
Net loss	$ (514,447)	$ (766,491)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation and amortization	17,169	19,404
Net realized (gains) on the sale of securities	(208,502)	(10,764)
Amortization of investment securities, net	16,468	7,397
Deferred acquisition costs capitalized	(144,069)	(127,119)
Deferred acquisition costs amortized	84,225	89,099
Interest credited on deposit type contracts	63,607	32,531
(Increase) decrease in operating assets:
Investment income due and accrued	(6,101)	(4,177)
Reinsurance related assets	(226)	(116,698)
Other assets	(249,929)	57,526
Increase (decrease) in operating liabilities:
Policyowner benefit reserves	797,659	1,039,565
Advance premiums	66,399	25,848
Other liabilities	(2,320)	(3,097)
Accounts payable and accrued expenses	73,984	(45,891)
Net cash (used in) provided by operating activities	(6,083)	197,133
Cash Flows from Investing Activities:
Purchase of fixed income investments	(2,100,968)	(1,512,774)
Purchase of equity investments	(3,124,648)	(805,227)
Proceeds from fixed income sales and repayments	1,532,509	467,504
Proceeds from equity sales and repayments	1,299,640	92,247
Purchase of property, equipment and software	(6,000)
Net cash (used in) investing activities	(2,399,467)	(1,758,250)
Cash Flows from Financing Activities:
Receipts on deposit-type contracts	1,000,563	949,295
Withdrawals on deposit-type contracts	(271,319)	(153,699)
Proceeds received from exercise of warrants, net of costs of issuance	259,418	1,834,677
Net cash provided by financing activities	988,662	2,630,273
Net (decrease) increase in cash and cash equivalents	(1,416,888)	1,069,156
Cash and Cash Equivalents:
Beginning	3,145,745	2,466,526
Ending	$ 1,728,857	$ 3,535,682

Note 1 - Description of Busines

Note 1 - Description of Business and Significant Accounting Policies	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Business Description and Accounting Policies [Text Block]	Note 1. Description of Business and Significant Accounting Policies Description of business : US Alliance Corporation (“the Company”) is a Kansas corporation located in Topeka, Kansas. The Company was incorporated April 24, 2009, June 9, 2011, January 2, 2012. April 23, 2012, The Company terminated February 24, 2013. 2013, first May 1, 2013. 2014 2015. February 24, 2015, February 24, 2016. February 24, 2016, February 24, 2017 April 1, 2016. February 24, 2018. The Company began offering third 2015. one Basis of presentation : The accompanying unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) for interim financial information and with the instructions to Form 10 10 X. not The results of operation for the three six June 30, 2017 not December 31, 2017 not 10 December 31, 2016. Principles of consolidation : The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated from the consolidated financial statements. Area of Operation : US Alliance Life and Security Company is authorized to operate in the states of Kansas, North Dakota, Missouri and Oklahoma. Common stock and earnings (loss) per share: The par value for common stock is $0.10 20,000,000 June 30, 2017 December 31, 2016, 5,624,063 5,565,943 Earnings (loss) per share attributable to the Company ’s common stockholders were computed based on the net loss and the weighted average number of shares outstanding during each year. The weighted average number of shares outstanding during the quarters ended June 30, 2017 2016 5,596,489 5,538,475 six June 30, 2017 2016 5,579,493 5,357,056 six June 30, 2017 2016 New accounting standards Revenue from Contracts with Customers In May 2014, not The following steps are applied in the updated guidance: ( 1 identify the contract(s) with a customer; ( 2 3 4 5 In July 2015, one March 31, 2018. not Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern In August 2014, one If conditions or events raise substantial doubt that is not one The guidance is effective for annual periods ending after December 15, 2016, not Recognition and Measurement of Financial Assets and Financial Liabilities In January 2016, This guidance is effective for fiscal years beginning after December 15, 2017. not The effect of the adoption of this guidance on the Company ’s results of operations, financial position and liquidity is primarily dependent on the fair value of the available-for-sale equity securities in future periods and the existence of a deferred tax asset related to available-for-sale securities in future periods that have not Leases In February 2016, 12 two no not The updated guidance is effective for reporting periods beginning after December 15, 2018, not Contingent Put and Call Options in Debt Instruments In March 2016, not December 15, 2016. not Measurement of Credit Losses on Financial Instruments In June 2016, The updated guidance also amends the current other-than-temporary impairment model for available-for-sale debt securities by requiring the recognition of impairments relating to credit losses through an allowance account and limits the amount of credit loss to the difference between a security ’s amortized cost basis and its fair value. In addition, the length of time a security has been in an unrealized loss position will no The updated guidance is effective for reporting periods beginning after December 15, 2019. December 15, 2018. not Classification of Certain C ash R eceipts and Cash P ayment In Aug ust 2016, eight not December 15, 2017, All other new accounting standards and updates of existing standards issued through the date of this filing were considered by management and did not

Note 2 - Investments

Note 2 - Investments	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Investment [Text Block]	Note 2. Investments The amortized cost and fair value of available for sale and held to maturity investments as of June 30, 2017 December 31, 2016 June 30, 2017 Cost or Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value Available for sale: (Unaudited) Fixed maturities: US Treasury securities $ 267,504 $ - $ (15,902 ) $ 251,602 Corporate bonds 3,966,440 116,132 (18,574 ) 4,063,998 Municipal bonds 4,145,420 129,749 (14,552 ) 4,260,617 Mortgage backed and asset backed securities 2,486,934 42,812 (17,627 ) 2,512,119 Total fixed maturities 10,866,298 288,693 (66,655 ) 11,088,336 Equities: Equities 6,834,157 327,375 (73,906 ) 7,087,626 Other equity investments 109,162 23,698 - 132,860 Total equities 6,943,319 351,073 (73,906 ) 7,220,486 Total available for sale $ 17,809,617 $ 639,766 $ (140,561 ) $ 18,308,822 December 31, 2016 Cost or Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value Available for sale: Fixed maturities: US Treasury securities $ 314,992 $ - $ (15,830 ) $ 299,162 Corporate bonds 3,828,418 62,712 (45,234 ) 3,845,896 Municipal bonds 2,841,137 46,883 (38,191 ) 2,849,829 Mortgage backed and asset backed securities 3,333,617 36,870 (45,300 ) 3,325,187 Total fixed maturities 10,318,164 146,465 (144,555 ) 10,320,074 Equities: Equities 4,723,024 350,981 (131,757 ) 4,942,248 Other equity investments 182,929 23,046 (4,719 ) 201,256 Total equities 4,905,953 374,027 (136,476 ) 5,143,504 Total available for sale $ 15,224,117 $ 520,492 $ (281,031 ) $ 15,463,578 The amortized cost and fair value of debt securities as of June 30, 2017, not not may may Amortized Cost Fair Value Amounts maturing in: (unaudited) One year or less $ 99,976 $ 99,932 After one year through five years 1,220,739 1,221,261 After five years through ten years 1,894,372 1,914,255 More than 10 years 5,164,277 5,340,769 Mortgage backed and asset backed securities 2,486,934 2,512,119 Total fixed maturities $ 10,866,298 $ 11,088,336 Proceeds from the sale of securities, maturities, and asset paydowns for the first six 2017 2016 $2,832,149 $559,751, Six Months Ended June 30, (unaudited) 2017 2016 Gross gains $ 227,463 $ 12,830 Gross losses (18,961 ) (2,066 ) Net security (losses) gains $ 208,502 $ 10,764 Proceeds from the sale of securities, maturities, and asset paydowns for the three June 30, 2017 2016 $1,862,409 $314,111, three June 30, 2017 2016 Three Months Ended June 30, (unaudited) 2017 2016 Gross gains $ 35,058 $ 1,992 Gross losses (18,961 ) (2,066 ) Net security (losses) gains $ 16,097 $ (74 ) Gross unrealized losses by duration are summarized as follows: Less than 12 months Greater than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized Value Loss Value Loss Value Loss June 30, 2017 (unaudited) Available for sale: Fixed maturities: US Treasury securities $ 251,602 $ (15,902 ) $ - $ - $ 251,602 $ (15,902 ) Corporate bonds 1,117,565 (17,474 ) 48,806 (1,100 ) 1,166,371 (18,574 ) Municipal bonds 724,631 (14,552 ) - - 724,631 (14,552 ) Mortgage backed and asset backed securities 850,512 (15,649 ) 99,326 (1,978 ) 949,838 (17,627 ) Total fixed maturities 2,944,310 (63,577 ) 148,132 (3,078 ) 3,092,442 (66,655 ) Equities: Equities 771,225 (23,360 ) 843,041 (50,546 ) 1,614,266 (73,906 ) Other equity investments - - - - - - Total equities 771,225 (23,360 ) 843,041 (50,546 ) 1,614,266 (73,906 ) Total available for sale $ 3,715,535 $ (86,937 ) $ 991,173 $ (53,624 ) $ 4,706,708 $ (140,561 ) Less than 12 months Greater than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized Value Loss Value Loss Value Loss December 31, 2016 Available for sale: Fixed maturities: US Treasury securities $ 299,162 $ (15,830 ) $ - $ - $ 299,162 $ (15,830 ) Corporate bonds 1,897,000 (42,994 ) 196,399 (2,240 ) 2,093,399 (45,234 ) Municipal bonds 1,296,688 (38,191 ) - - 1,296,688 (38,191 ) Mortgage backed and asset backed securities 1,700,173 (39,264 ) 134,090 (6,036 ) 1,834,263 (45,300 ) Total fixed maturities 5,193,023 (136,279 ) 330,489 (8,276 ) 5,523,512 (144,555 ) Equities: Equities 1,007,860 (59,357 ) 1,063,959 (72,400 ) 2,071,819 (131,757 ) Other equity investments 52,840 (4,719 ) - - 52,840 (4,719 ) Total equities 1,060,700 (64,076 ) 1,063,959 (72,400 ) 2,124,659 (136,476 ) Total available for sale $ 6,253,723 $ (200,355 ) $ 1,394,448 $ (80,676 ) $ 7,648,171 $ (281,031 ) Unrealized losses occur from market price declines that may The total number of securities in the investment portfolio in an unrealized loss position as of June 30, 2017 39, $140,561 39 18 12 5 2 1 1 no June 30, 2017 December 31, 2016. June 30, 2017 $639,766.

Note 3 - Fair Value Measurement

Note 3 - Fair Value Measurements	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Fair Value Disclosures [Text Block]	Note 3. Fair Value Measurements The fair value of an asset or liability is the price that would be received to sell that asset or paid to transfer that liability in an orderly transaction occurring in the principal market (or most advantageous market in the absence of a principal market) for such asset or liability. In estimating fair value, the Company utilizes valuation techniques that are consistent with the market approach, the income approach and/or the cost approach. Such valuation techniques are consistently applied. Inputs to valuation techniques include the assumptions that market participants would use in pricing an asset or liability. The Company uses a fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows: ● Level 1 ● Level 2 1 The Company’s Level 2 ● Level 3 ’s own assumptions about the assumptions that market participants would use in pricing the assets or liabilities. Investments, available for sale : Investments in securities that are classified as available for sale are recorded at fair value utilizing Level 1 2 The following table presents the amounts of assets measured at fair value on a recurring basis as of June 30, 2017 December 31, 2016: June 30, 2017 Total Level 1 Level 2 Level 3 Available for sale: (unaudited) Fixed maturities: US Treasury securities $ 251,602 $ 251,602 $ - $ - Corporate bonds 4,063,998 - 4,063,998 - Municipal bonds 4,260,617 - 4,260,617 - Mortgage backed and asset backed securities 2,512,119 - 2,512,119 - Total fixed maturities 11,088,336 251,602 10,836,734 - Equities: Equities 7,087,626 7,087,626 - - Other equity investments 132,860 132,860 - - Total equities 7,220,486 7,220,486 - - Total $ 18,308,822 $ 7,472,088 $ 10,836,734 $ - December 31, 2016 Total Level 1 Level 2 Level 3 Available for sale: Fixed maturities: US Treasury securities $ 299,162 $ 299,162 $ - $ - Corporate bonds 3,845,896 - 3,845,896 - Municipal bonds 2,849,829 - 2,849,829 - Mortgage backed and asset backed securities 3,325,187 - 3,325,187 - Total fixed maturities 10,320,074 299,162 10,020,912 - Equities: Equities 4,942,248 4,942,248 - - Other equity investments 201,256 201,256 - - Total equities 5,143,504 5,143,504 - - Total $ 15,463,578 $ 5,442,666 $ 10,020,912 $ - The Company discloses the fair value of financial assets and financial liabilities, including those financial assets and financial liabilities that are not Cash and cash equivalents : The carrying amounts approximate fair value because of the short maturity of these instruments. Policyholder deposits in deposit-type contracts : The fair value for policyholder deposits in deposit-type insurance contracts (accumulation annuities) is calculated using a discounted cash flow approach. Cash flows are projected using actuarial assumptions and discounted to the valuation date using the risk-free rates adjusted for credit risk and the nonperformance risk of the liabilities. The estimated fair values of the Company ’s financial assets and liabilities at June 30, 2017 December 31, 2016 June 30, 2017 December 31, 2016 Carrying Value Fair Value Carrying Value Fair Value Financial Assets: (unaudited) Cash and cash equivalents $ 1,728,857 $ 1,728,857 $ 3,145,745 $ 3,145,745 Investments, at fair value 18,308,822 18,308,822 15,463,578 15,463,578 Total Financial Assets $ 20,037,679 $ 20,037,679 $ 18,609,323 $ 18,609,323 Financial Liabilities: Policyholder deposits in deposit-type contracts $ 4,191,021 $ 4,099,186 $ 3,398,170 $ 3,260,086 Total Financial Liabilities $ 4,191,021 $ 4,099,186 $ 3,398,170 $ 3,260,086

Note 4 - Income Tax Provision

Note 4 - Income Tax Provision	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Income Tax Disclosure [Text Block]	Note 4. Income Tax Provision No June 30, 2017 2016 100% The net operating loss carryforwards for the Company are $5,579,497 $5,050,176 June 30, 2017 December 31, 2016, 100

Note 5 - Warrants

Note 5 - Warrants	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	Note 5 . Warrants The Company conducted its public stock offering through the sale of units. Each unit was sold for $1,000 200 200 $6.00 not February 24, 2016. April 1, 2016. December 31, 2014 2,532,400 February 24, 2015, 2015, 944,845 December 31, 2015 1,587,555 first six 2016, 372,003 Management engaged the services of an experienced valuation firm to value the warrants as of February 24, 2013. $0.01 zero March 31, 2016. not

Note 6 - Subsequent Events

Note 6 - Subsequent Events	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Subsequent Events [Text Block]	Note 6 . Subsequent Events All of the effects of subsequent events that provide additional evidence about conditions that existed at the balance sheet date, including the estimates inherent in the process of preparing the consolidated financial statements, are recognized in the consolidated financial statements. The Company does not not On May 23, 2017, merger agreement with Northern Plains Capital Corporation. Northern Plains Capital Corporation shareholders received .5841 July 31, 2017 August 1, 2017 The Company has evaluated subsequent events through August 4, 2017,

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of presentation : The accompanying unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) for interim financial information and with the instructions to Form 10 10 X. not The results of operation for the three six June 30, 2017 not December 31, 2017 not 10 December 31, 2016.
Consolidation, Policy [Policy Text Block]	Principles of consolidation : The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated from the consolidated financial statements.
Area of Operation, Policy [Policy Text Block]	Area of Operation : US Alliance Life and Security Company is authorized to operate in the states of Kansas, North Dakota, Missouri and Oklahoma.
Earnings Per Share, Policy [Policy Text Block]	Common stock and earnings (loss) per share: The par value for common stock is $0.10 20,000,000 June 30, 2017 December 31, 2016, 5,624,063 5,565,943 Earnings (loss) per share attributable to the Company ’s common stockholders were computed based on the net loss and the weighted average number of shares outstanding during each year. The weighted average number of shares outstanding during the quarters ended June 30, 2017 2016 5,596,489 5,538,475 six June 30, 2017 2016 5,579,493 5,357,056 six June 30, 2017 2016
New Accounting Pronouncements, Policy [Policy Text Block]	New accounting standards Revenue from Contracts with Customers In May 2014, not The following steps are applied in the updated guidance: ( 1 identify the contract(s) with a customer; ( 2 3 4 5 In July 2015, one March 31, 2018. not Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern In August 2014, one If conditions or events raise substantial doubt that is not one The guidance is effective for annual periods ending after December 15, 2016, not Recognition and Measurement of Financial Assets and Financial Liabilities In January 2016, This guidance is effective for fiscal years beginning after December 15, 2017. not The effect of the adoption of this guidance on the Company ’s results of operations, financial position and liquidity is primarily dependent on the fair value of the available-for-sale equity securities in future periods and the existence of a deferred tax asset related to available-for-sale securities in future periods that have not Leases In February 2016, 12 two no not The updated guidance is effective for reporting periods beginning after December 15, 2018, not Contingent Put and Call Options in Debt Instruments In March 2016, not December 15, 2016. not Measurement of Credit Losses on Financial Instruments In June 2016, The updated guidance also amends the current other-than-temporary impairment model for available-for-sale debt securities by requiring the recognition of impairments relating to credit losses through an allowance account and limits the amount of credit loss to the difference between a security ’s amortized cost basis and its fair value. In addition, the length of time a security has been in an unrealized loss position will no The updated guidance is effective for reporting periods beginning after December 15, 2019. December 15, 2018. not Classification of Certain C ash R eceipts and Cash P ayment In Aug ust 2016, eight not December 15, 2017, All other new accounting standards and updates of existing standards issued through the date of this filing were considered by management and did not

Note 2 - Investments (Tables)

Note 2 - Investments (Tables)	6 Months Ended
	Jun. 30, 2017
Notes Tables
Available-for-sale Securities [Table Text Block]	June 30, 2017 Cost or Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value Available for sale: (Unaudited) Fixed maturities: US Treasury securities $ 267,504 $ - $ (15,902 ) $ 251,602 Corporate bonds 3,966,440 116,132 (18,574 ) 4,063,998 Municipal bonds 4,145,420 129,749 (14,552 ) 4,260,617 Mortgage backed and asset backed securities 2,486,934 42,812 (17,627 ) 2,512,119 Total fixed maturities 10,866,298 288,693 (66,655 ) 11,088,336 Equities: Equities 6,834,157 327,375 (73,906 ) 7,087,626 Other equity investments 109,162 23,698 - 132,860 Total equities 6,943,319 351,073 (73,906 ) 7,220,486 Total available for sale $ 17,809,617 $ 639,766 $ (140,561 ) $ 18,308,822 December 31, 2016 Cost or Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value Available for sale: Fixed maturities: US Treasury securities $ 314,992 $ - $ (15,830 ) $ 299,162 Corporate bonds 3,828,418 62,712 (45,234 ) 3,845,896 Municipal bonds 2,841,137 46,883 (38,191 ) 2,849,829 Mortgage backed and asset backed securities 3,333,617 36,870 (45,300 ) 3,325,187 Total fixed maturities 10,318,164 146,465 (144,555 ) 10,320,074 Equities: Equities 4,723,024 350,981 (131,757 ) 4,942,248 Other equity investments 182,929 23,046 (4,719 ) 201,256 Total equities 4,905,953 374,027 (136,476 ) 5,143,504 Total available for sale $ 15,224,117 $ 520,492 $ (281,031 ) $ 15,463,578
Investments Classified by Contractual Maturity Date [Table Text Block]	Amortized Cost Fair Value Amounts maturing in: (unaudited) One year or less $ 99,976 $ 99,932 After one year through five years 1,220,739 1,221,261 After five years through ten years 1,894,372 1,914,255 More than 10 years 5,164,277 5,340,769 Mortgage backed and asset backed securities 2,486,934 2,512,119 Total fixed maturities $ 10,866,298 $ 11,088,336
Realized Gain (Loss) on Investments [Table Text Block]	Six Months Ended June 30, (unaudited) 2017 2016 Gross gains $ 227,463 $ 12,830 Gross losses (18,961 ) (2,066 ) Net security (losses) gains $ 208,502 $ 10,764 Three Months Ended June 30, (unaudited) 2017 2016 Gross gains $ 35,058 $ 1,992 Gross losses (18,961 ) (2,066 ) Net security (losses) gains $ 16,097 $ (74 )
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block]	Less than 12 months Greater than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized Value Loss Value Loss Value Loss June 30, 2017 (unaudited) Available for sale: Fixed maturities: US Treasury securities $ 251,602 $ (15,902 ) $ - $ - $ 251,602 $ (15,902 ) Corporate bonds 1,117,565 (17,474 ) 48,806 (1,100 ) 1,166,371 (18,574 ) Municipal bonds 724,631 (14,552 ) - - 724,631 (14,552 ) Mortgage backed and asset backed securities 850,512 (15,649 ) 99,326 (1,978 ) 949,838 (17,627 ) Total fixed maturities 2,944,310 (63,577 ) 148,132 (3,078 ) 3,092,442 (66,655 ) Equities: Equities 771,225 (23,360 ) 843,041 (50,546 ) 1,614,266 (73,906 ) Other equity investments - - - - - - Total equities 771,225 (23,360 ) 843,041 (50,546 ) 1,614,266 (73,906 ) Total available for sale $ 3,715,535 $ (86,937 ) $ 991,173 $ (53,624 ) $ 4,706,708 $ (140,561 ) Less than 12 months Greater than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized Value Loss Value Loss Value Loss December 31, 2016 Available for sale: Fixed maturities: US Treasury securities $ 299,162 $ (15,830 ) $ - $ - $ 299,162 $ (15,830 ) Corporate bonds 1,897,000 (42,994 ) 196,399 (2,240 ) 2,093,399 (45,234 ) Municipal bonds 1,296,688 (38,191 ) - - 1,296,688 (38,191 ) Mortgage backed and asset backed securities 1,700,173 (39,264 ) 134,090 (6,036 ) 1,834,263 (45,300 ) Total fixed maturities 5,193,023 (136,279 ) 330,489 (8,276 ) 5,523,512 (144,555 ) Equities: Equities 1,007,860 (59,357 ) 1,063,959 (72,400 ) 2,071,819 (131,757 ) Other equity investments 52,840 (4,719 ) - - 52,840 (4,719 ) Total equities 1,060,700 (64,076 ) 1,063,959 (72,400 ) 2,124,659 (136,476 ) Total available for sale $ 6,253,723 $ (200,355 ) $ 1,394,448 $ (80,676 ) $ 7,648,171 $ (281,031 )

Note 3 - Fair Value Measureme16

Note 3 - Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2017
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	June 30, 2017 Total Level 1 Level 2 Level 3 Available for sale: (unaudited) Fixed maturities: US Treasury securities $ 251,602 $ 251,602 $ - $ - Corporate bonds 4,063,998 - 4,063,998 - Municipal bonds 4,260,617 - 4,260,617 - Mortgage backed and asset backed securities 2,512,119 - 2,512,119 - Total fixed maturities 11,088,336 251,602 10,836,734 - Equities: Equities 7,087,626 7,087,626 - - Other equity investments 132,860 132,860 - - Total equities 7,220,486 7,220,486 - - Total $ 18,308,822 $ 7,472,088 $ 10,836,734 $ - December 31, 2016 Total Level 1 Level 2 Level 3 Available for sale: Fixed maturities: US Treasury securities $ 299,162 $ 299,162 $ - $ - Corporate bonds 3,845,896 - 3,845,896 - Municipal bonds 2,849,829 - 2,849,829 - Mortgage backed and asset backed securities 3,325,187 - 3,325,187 - Total fixed maturities 10,320,074 299,162 10,020,912 - Equities: Equities 4,942,248 4,942,248 - - Other equity investments 201,256 201,256 - - Total equities 5,143,504 5,143,504 - - Total $ 15,463,578 $ 5,442,666 $ 10,020,912 $ -
Fair Value, by Balance Sheet Grouping [Table Text Block]	June 30, 2017 December 31, 2016 Carrying Value Fair Value Carrying Value Fair Value Financial Assets: (unaudited) Cash and cash equivalents $ 1,728,857 $ 1,728,857 $ 3,145,745 $ 3,145,745 Investments, at fair value 18,308,822 18,308,822 15,463,578 15,463,578 Total Financial Assets $ 20,037,679 $ 20,037,679 $ 18,609,323 $ 18,609,323 Financial Liabilities: Policyholder deposits in deposit-type contracts $ 4,191,021 $ 4,099,186 $ 3,398,170 $ 3,260,086 Total Financial Liabilities $ 4,191,021 $ 4,099,186 $ 3,398,170 $ 3,260,086

Note 1 - Description of Busin17

Note 1 - Description of Business and Significant Accounting Policies (Details Textual)	3 Months Ended		6 Months Ended
	Jun. 30, 2017$ / sharesshares	Jun. 30, 2016shares	Jun. 30, 2017$ / sharesshares	Jun. 30, 2016shares	Dec. 31, 2016$ / sharesshares
Number of Third Party Administrative Agreements in Place	1		1
Common Stock, Par or Stated Value Per Share | $ / shares	$ 0.10		$ 0.10		$ 0.10
Common Stock, Shares Authorized	20,000,000		20,000,000		20,000,000
Common Stock, Shares, Outstanding	5,624,063		5,624,063		5,565,943
Weighted Average Number of Shares Outstanding, Basic and Diluted	5,596,489	5,538,475	5,579,493	5,357,056
Common Stock, Shares, Issued	5,624,063		5,624,063		5,565,943

Note 2 - Investments (Details T

Note 2 - Investments (Details Textual)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Dec. 31, 2016USD ($)
Proceeds from Sale, Maturity and Collection of Investments	$ 1,862,409	$ 314,111	$ 2,832,149	$ 559,751
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax	$ 140,561		$ 140,561		$ 281,031
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions	39		39
Other than Temporary Impairment Losses, Investments, Available-for-sale Securities			$ 0		$ 0
Available-for-sale Equity Securities, Accumulated Gross Unrealized Gain, before Tax		$ 639,766		$ 639,766
Fixed Income Securities [Member]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions	18		18
Collateralized Mortgage Backed Securities [Member]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions	12		12
Common Stock [Member]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions	5		5
Corporate Debt Securities [Member]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions	2		2
Preferred Stock [Member]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions	1		1
Senior Loan Fund [Member]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions	1		1

Note 2 - Investments - Amortize

Note 2 - Investments - Amortized Cost and Fair Value of Available-for-sale and Held-to-maturity Investments (Details) - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Cost or Amortized Cost	$ 17,809,617	$ 15,224,117
Gross Unrealized Gains	639,766	520,492
Gross Unrealized Losses	(140,561)	(281,031)
Available for sale securities	18,308,822	15,463,578
Fixed Maturities [Member]
Cost or Amortized Cost	10,866,298	10,318,164
Gross Unrealized Gains	288,693	146,465
Gross Unrealized Losses	(66,655)	(144,555)
Available for sale securities	11,088,336	10,320,074
Equity Securities [Member]
Cost or Amortized Cost	6,834,157	4,723,024
Gross Unrealized Gains	327,375	350,981
Gross Unrealized Losses	(73,906)	(131,757)
Available for sale securities	7,087,626	4,942,248
Other Equity Investments [Member]
Cost or Amortized Cost	109,162	182,929
Gross Unrealized Gains	23,698	23,046
Gross Unrealized Losses		(4,719)
Available for sale securities	132,860	201,256
Equities, Including Equity Securities and Other Equity Investments [Member]
Cost or Amortized Cost	6,943,319	4,905,953
Gross Unrealized Gains	351,073	374,027
Gross Unrealized Losses	(73,906)	(136,476)
Available for sale securities	7,220,486	5,143,504
US Treasury Securities [Member] | Fixed Maturities [Member]
Cost or Amortized Cost	267,504	314,992
Gross Unrealized Gains
Gross Unrealized Losses	(15,902)	(15,830)
Available for sale securities	251,602	299,162
Corporate Debt Securities [Member] | Fixed Maturities [Member]
Cost or Amortized Cost	3,966,440	3,828,418
Gross Unrealized Gains	116,132	62,712
Gross Unrealized Losses	(18,574)	(45,234)
Available for sale securities	4,063,998	3,845,896
US States and Political Subdivisions Debt Securities [Member] | Fixed Maturities [Member]
Cost or Amortized Cost	4,145,420	2,841,137
Gross Unrealized Gains	129,749	46,883
Gross Unrealized Losses	(14,552)	(38,191)
Available for sale securities	4,260,617	2,849,829
Collateralized Mortgage Backed Securities [Member] | Fixed Maturities [Member]
Cost or Amortized Cost	2,486,934	3,333,617
Gross Unrealized Gains	42,812	36,870
Gross Unrealized Losses	(17,627)	(45,300)
Available for sale securities	$ 2,512,119	$ 3,325,187

Note 2 - Investments - Amorti20

Note 2 - Investments - Amortized Cost and Fair Value of Debt Securities By Contractual Maturity (Details)	Jun. 30, 2017USD ($)
One year or less, amortized cost	$ 99,976
One year or less, fair value	99,932
After one year through five years, amortized cost	1,220,739
After one year through five years, fair value	1,221,261
After five years through ten years, amortized cost	1,894,372
After five years through ten years, fair value	1,914,255
More than 10 years, amortized cost	5,164,277
More than 10 years, fair value	5,340,769
Mortgage backed and asset backed securities, amortized cost	2,486,934
Mortgage backed and asset backed securities, fair value	2,512,119
Total fixed maturities, amortized cost	10,866,298
Total fixed maturities, fair value	$ 11,088,336

Note 2 - Investments - Realized

Note 2 - Investments - Realized Gains and Losses Related to the Sale of Securities (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Gross losses	$ (18,961)	$ (2,066)	$ (18,961)	$ (2,066)
Net security (losses) gains	16,097	(74)	208,502	10,764
Gross gains	$ 35,058	$ 1,992	$ 227,463	$ 12,830

Note 2 - Investments - Gross Un

Note 2 - Investments - Gross Unrealized Losses (Details) - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Available-for-sale securities, fair value	$ 4,706,708	$ 7,648,171
Available-for-sale securities, unrealized loss	(140,561)	(281,031)
Available-for-sale securities, less than 12 months, fair value	3,715,535	6,253,723
Available-for-sale securities, less than 12 months, unrealized loss	(86,937)	(200,355)
Available-for-sale securities, greater than 12 months, fair value	991,173	1,394,448
Available-for-sale securities, greater than 12 months, unrealized loss	(53,624)	(80,676)
Fixed Maturities [Member]
Available-for-sale securities, fair value	3,092,442	5,523,512
Available-for-sale securities, unrealized loss	(66,655)	(144,555)
Available-for-sale securities, less than 12 months, fair value	2,944,310	5,193,023
Available-for-sale securities, less than 12 months, unrealized loss	(63,577)	(136,279)
Available-for-sale securities, greater than 12 months, fair value	148,132	330,489
Available-for-sale securities, greater than 12 months, unrealized loss	(3,078)	(8,276)
Fixed Maturities [Member] | US Treasury Securities [Member]
Available-for-sale securities, fair value	251,602	299,162
Available-for-sale securities, unrealized loss	(15,902)	(15,830)
Available-for-sale securities, less than 12 months, fair value	251,602	299,162
Available-for-sale securities, less than 12 months, unrealized loss	(15,902)	(15,830)
Available-for-sale securities, greater than 12 months, fair value
Available-for-sale securities, greater than 12 months, unrealized loss
Fixed Maturities [Member] | Corporate Debt Securities [Member]
Available-for-sale securities, fair value	1,166,371	2,093,399
Available-for-sale securities, unrealized loss	(18,574)	(45,234)
Available-for-sale securities, less than 12 months, fair value	1,117,565	1,897,000
Available-for-sale securities, less than 12 months, unrealized loss	(17,474)	(42,994)
Available-for-sale securities, greater than 12 months, fair value	48,806	196,399
Available-for-sale securities, greater than 12 months, unrealized loss	(1,100)	(2,240)
Fixed Maturities [Member] | US States and Political Subdivisions Debt Securities [Member]
Available-for-sale securities, fair value	724,631	1,296,688
Available-for-sale securities, unrealized loss	(14,552)	(38,191)
Available-for-sale securities, less than 12 months, fair value	724,631	1,296,688
Available-for-sale securities, less than 12 months, unrealized loss	(14,552)	(38,191)
Available-for-sale securities, greater than 12 months, fair value
Available-for-sale securities, greater than 12 months, unrealized loss
Fixed Maturities [Member] | Collateralized Mortgage Backed Securities [Member]
Available-for-sale securities, fair value	949,838	1,834,263
Available-for-sale securities, unrealized loss	(17,627)	(45,300)
Available-for-sale securities, less than 12 months, fair value	850,512	1,700,173
Available-for-sale securities, less than 12 months, unrealized loss	(15,649)	(39,264)
Available-for-sale securities, greater than 12 months, fair value	99,326	134,090
Available-for-sale securities, greater than 12 months, unrealized loss	(1,978)	(6,036)
Equity Securities [Member]
Available-for-sale securities, fair value	1,614,266	2,071,819
Available-for-sale securities, unrealized loss	(73,906)	(131,757)
Available-for-sale securities, less than 12 months, fair value	771,225	1,007,860
Available-for-sale securities, less than 12 months, unrealized loss	(23,360)	(59,357)
Available-for-sale securities, greater than 12 months, fair value	843,041	1,063,959
Available-for-sale securities, greater than 12 months, unrealized loss	(50,546)	(72,400)
Other Equity Investments [Member]
Available-for-sale securities, fair value		52,840
Available-for-sale securities, unrealized loss		(4,719)
Available-for-sale securities, less than 12 months, fair value		52,840
Available-for-sale securities, less than 12 months, unrealized loss		(4,719)
Available-for-sale securities, greater than 12 months, fair value
Available-for-sale securities, greater than 12 months, unrealized loss
Equities, Including Equity Securities and Other Equity Investments [Member]
Available-for-sale securities, fair value	1,614,266	2,124,659
Available-for-sale securities, unrealized loss	(73,906)	(136,476)
Available-for-sale securities, less than 12 months, fair value	771,225	1,060,700
Available-for-sale securities, less than 12 months, unrealized loss	(23,360)	(64,076)
Available-for-sale securities, greater than 12 months, fair value	843,041	1,063,959
Available-for-sale securities, greater than 12 months, unrealized loss	$ (50,546)	$ (72,400)

Note 3 - Fair Value Measureme23

Note 3 - Fair Value Measurements - Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Available for sale securities	$ 18,308,822	$ 15,463,578
Fair Value, Measurements, Recurring [Member]
Available for sale securities	18,308,822	15,463,578
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Available for sale securities	7,472,088	5,442,666
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Available for sale securities	10,836,734	10,020,912
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Available for sale securities
Fixed Maturities [Member]
Available for sale securities	11,088,336	10,320,074
Fixed Maturities [Member] | Fair Value, Measurements, Recurring [Member]
Available for sale securities	11,088,336	10,320,074
Fixed Maturities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Available for sale securities	251,602	299,162
Fixed Maturities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Available for sale securities	10,836,734	10,020,912
Fixed Maturities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Available for sale securities
Fixed Maturities [Member] | US Treasury Securities [Member]
Available for sale securities	251,602	299,162
Fixed Maturities [Member] | US Treasury Securities [Member] | Fair Value, Measurements, Recurring [Member]
Available for sale securities	251,602	299,162
Fixed Maturities [Member] | US Treasury Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Available for sale securities	251,602	299,162
Fixed Maturities [Member] | US Treasury Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Available for sale securities
Fixed Maturities [Member] | US Treasury Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Available for sale securities
Fixed Maturities [Member] | Corporate Debt Securities [Member]
Available for sale securities	4,063,998	3,845,896
Fixed Maturities [Member] | Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member]
Available for sale securities	4,063,998	3,845,896
Fixed Maturities [Member] | Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Available for sale securities
Fixed Maturities [Member] | Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Available for sale securities	4,063,998	3,845,896
Fixed Maturities [Member] | Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Available for sale securities
Fixed Maturities [Member] | US States and Political Subdivisions Debt Securities [Member]
Available for sale securities	4,260,617	2,849,829
Fixed Maturities [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member]
Available for sale securities	4,260,617	2,849,829
Fixed Maturities [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Available for sale securities
Fixed Maturities [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Available for sale securities	4,260,617	2,849,829
Fixed Maturities [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Available for sale securities
Fixed Maturities [Member] | Collateralized Mortgage Backed Securities [Member]
Available for sale securities	2,512,119	3,325,187
Fixed Maturities [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member]
Available for sale securities	2,512,119	3,325,187
Fixed Maturities [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Available for sale securities
Fixed Maturities [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Available for sale securities	2,512,119	3,325,187
Fixed Maturities [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Available for sale securities
Equity Securities [Member]
Available for sale securities	7,087,626	4,942,248
Equity Securities [Member] | Fair Value, Measurements, Recurring [Member]
Available for sale securities	7,087,626	4,942,248
Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Available for sale securities	7,087,626	4,942,248
Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Available for sale securities
Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Available for sale securities
Other Equity Investments [Member]
Available for sale securities	132,860	201,256
Other Equity Investments [Member] | Fair Value, Measurements, Recurring [Member]
Available for sale securities	132,860	201,256
Other Equity Investments [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Available for sale securities	132,860	201,256
Other Equity Investments [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Available for sale securities
Other Equity Investments [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Available for sale securities
Equities, Including Equity Securities and Other Equity Investments [Member]
Available for sale securities	7,220,486	5,143,504
Equities, Including Equity Securities and Other Equity Investments [Member] | Fair Value, Measurements, Recurring [Member]
Available for sale securities	7,220,486	5,143,504
Equities, Including Equity Securities and Other Equity Investments [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Available for sale securities	7,220,486	5,143,504
Equities, Including Equity Securities and Other Equity Investments [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Available for sale securities
Equities, Including Equity Securities and Other Equity Investments [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Available for sale securities

Note 3 - Fair Value Measureme24

Note 3 - Fair Value Measurements - Estimated Fair Values of the Company's Financial Assets and Liabilities (Details) - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Reported Value Measurement [Member]
Cash and cash equivalents	$ 1,728,857	$ 3,145,745
Investments, at fair value	18,308,822	15,463,578
Total Financial Assets	20,037,679	18,609,323
Policyholder deposits in deposit-type contracts	4,191,021	3,398,170
Total Financial Liabilities	4,191,021	3,398,170
Estimate of Fair Value Measurement [Member]
Cash and cash equivalents	1,728,857	3,145,745
Investments, at fair value	18,308,822	15,463,578
Total Financial Assets	20,037,679	18,609,323
Policyholder deposits in deposit-type contracts	4,099,186	3,260,086
Total Financial Liabilities	$ 4,099,186	$ 3,260,086

Note 4 - Income Tax Provision (

Note 4 - Income Tax Provision (Details Textual) - USD ($)	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Deferred Tax Assets, Valuation Allowance, Percentage	100.00%	100.00%
Operating Loss Carryforwards	$ 5,579,497		$ 5,050,176
Income Tax Expense (Benefit)	$ 0	$ 0

Note 5 - Warrants (Details Text

Note 5 - Warrants (Details Textual) - $ / shares	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015	Mar. 31, 2016	Dec. 31, 2014	Feb. 24, 2013
Equity Unit, Original Price Per Unit at Issuance			$ 1,000
Equity Unit, Number of Shares of Common Stock in Each Unit			200
Equity Unit, Number of Common Stock Warrants in Each Unit			200
Class of Warrant or Right, Exercise Price of Warrants or Rights			$ 6
Class of Warrant or Right, Number of Securities Called by Warrants or Rights		1,587,555		2,532,400
Stock Issued During Period, Shares, Warrants Exercised	372,003	944,845
Class of Warrant or Right, Value Per Share of Common Stock					$ 0.01
Class of Warrant or Right, Outstanding			0

Note 6 - Subsequent Events (Det

Note 6 - Subsequent Events (Details Textual)	May 23, 2017
Definitive Merger Agreement, Share Exchange Ratio	0.5841