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As Reported Financial Statements

As Reported Financials

Source Document Currency Code (in thousands) 2014 Y 12/31/2015 USD 2015 Y 12/31/2016 USD 2016 Y 12/31/2017 USD 2017 Y 12/31/2017 USD
Source Document Currency Code 2014 Y 12/31/2015 USD 2015 Y 12/31/2016 USD 2016 Y 12/31/2017 USD 2017 Y 12/31/2017 USD

Revenue

Net premiums earned 18,463 25,934 30,448 35,202
Net investment income 130 362 544 965
Other income 372 834 1,264 1,981
Total revenue 18,965 27,130 32,256 38,148

Expenses

Net losses and loss adjustment expenses 3,612 9,939 16,372 15,900
Amortization of deferred policy acquisition costs 4,529 6,571 8,492 11,080
General and administrative expenses 5,095 7,253 6,918 9,304
Loss on termination of Management Services Agreement 0 5,421 NA NA
Accretion of discount on Series B Preferred Shares 0 282 355 372
Total expenses 13,236 29,466 32,137 36,656
Income before income tax expense 5,729 (2,336) 119 1,492
Income tax expense 2,083 (663) 108 1,198
Net income 3,646 (1,673) 11 294
Less - beneficial conversion feature on convertible preferred shares 500 NA NA NA
Net (loss) income attributable to common shareholders 3,146 NA NA NA

Net earnings per common share

Basic 0.71 (0.27) NA NA
Diluted 0.71 (0.27) NA NA
Basic and diluted NA NA 0 0.05

Weighted average common shares outstanding

Basic 4,454,000 6,286,706 6,047,979 5,965,051
Diluted 4,454,000 6,286,706 6,047,979 5,970,096

Comprehensive Income

Net income 3,646 (1,673) 11 294
Unrealized losses on investments available for sale, net of income taxes (1) (61) (3) (104)
Comprehensive income 3,645 (1,734) 8 190
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