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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 2018 Q2 YTD 6/30/2018 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 2018 Q2 YTD 6/30/2018 USD

Revenue

Net premiums earned 18,463 25,934 30,448 35,202 25,940
Net investment income 130 362 544 965 827
Other income 372 834 1,264 1,981 1,056
Total revenue 18,965 27,130 32,256 38,148 27,823

Expenses

Net losses and loss adjustment expenses 3,612 9,939 16,372 15,900 11,118
Amortization of deferred policy acquisition costs 4,529 6,571 8,492 11,080 6,912
General and administrative expenses 5,095 7,253 6,918 9,304 6,487
Loss on termination of Management Services Agreement 0 5,421 NA NA NA
Accretion of discount on Series B Preferred Shares 0 282 355 372 33
Loss on repurchase of Series B Preferred Shares and Performance Shares NA NA NA NA 612
Total expenses 13,236 29,466 32,137 36,656 25,162
Income before income tax expense 5,729 (2,336) 119 1,492 2,661
Income tax expense 2,083 (663) 108 1,198 575
Net income 3,646 (1,673) 11 294 2,086
Less - beneficial conversion feature on convertible preferred shares 500 NA NA NA NA
Net (loss) income attributable to common shareholders 3,146 NA NA NA NA

Net earnings per common share

Basic and diluted NA NA 0 0.05 NA

Net earnings (loss) per common share

Basic 0.71 (0.27) NA NA 0.28
Diluted 0.71 (0.27) NA NA 0.27

Weighted average common shares outstanding

Basic 4,454,000 6,286,706 6,047,979 5,965,051 5,984,766
Diluted 4,454,000 6,286,706 6,047,979 5,970,096 6,104,371

Comprehensive Income (Loss)

Net income 3,646 (1,673) 11 294 2,086
Unrealized gains (losses) on investments available for sale, net of income taxes (1) (61) (3) (104) (877)
Comprehensive income (loss) 3,645 (1,734) 8 190 1,209
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