AMERINST INSURANCE GROUP LTD
CIK:0001065201|SEC Filings
Condensed Consolidated Statements of Operations, Comprehensive (Loss) Income and Retained Earnings (Unaudited) - USD ($) |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2023 |
Sep. 30, 2022 |
Sep. 30, 2023 |
Sep. 30, 2022 |
|
| REVENUE | ||||
| Commission income | $ 572,119 | $ 489,998 | $ 1,711,014 | $ 1,743,342 |
| Net investment income (Note 5) | 352 | 1,400 | 1,122 | 1,452 |
| TOTAL REVENUE | 572,471 | 491,398 | 1,712,136 | 1,744,794 |
| LOSSES AND EXPENSES | ||||
| Operating and management expenses | 1,187,124 | 463,082 | 3,163,024 | 2,407,713 |
| TOTAL LOSSES AND EXPENSES | 1,187,124 | 463,082 | 3,163,024 | 2,407,713 |
| NET (LOSS) INCOME BEFORE TAX | (614,653) | 28,316 | (1,450,888) | (662,919) |
| Income tax expense (benefit) | 117,730 | 470,025 | 229,310 | 389,705 |
| NET LOSS AFTER TAX | (732,385) | (441,709) | (1,680,200) | (1,052,624) |
| OTHER COMPREHENSIVE LOSS | ||||
| Net unrealized holding losses arising during the period | 0 | 0 | 0 | 0 |
| OTHER COMPREHENSIVE LOSS | 0 | 0 | 0 | 0 |
| COMPREHENSIVE LOSS | (732,383) | (441,709) | (1,680,200) | (1,052,624) |
| RETAINED EARNINGS, BEGINNING OF PERIOD | 2,777,785 | 5,045,248 | 3,725,600 | 5,656,163 |
| Net (loss) income | (732,385) | (441,709) | (1,680,200) | (1,052,624) |
| Dividends | 0 | 0 | 0 | 0 |
| RETAINED EARNINGS, END OF PERIOD | $ 2,045,400 | $ 4,603,539 | $ 2,045,400 | $ 4,603,539 |
| Net loss per share | ||||
| Basic (in dollars per share) | $ (1.18) | $ (0.71) | $ (2.71) | $ (1.7) |
| Diluted (in dollars per share) | (1.18) | (0.71) | (2.71) | (1.7) |
| Dividends (in dollars per share) | $ 0 | $ 0 | $ 0 | $ 0 |
| Weighted average number of shares outstanding for the entire period | ||||
| Basic (in shares) | 619,392 | 619,392 | 619,392 | 619,392 |
| Diluted (in shares) | 619,392 | 619,392 | 619,392 | 619,392 |