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Year-to-date Financial highlights as of June 30, 2010:
Total Assets = $33,253,694 (up 39.7%)
Total Shareholders Equity = $17,005,041 (up 2.7%)
Life insurance in force = $13,710,456 (up 0.5%)
Total Annuities = $8,421,836 (new in 2009)
Total Revenues (incl. capital gains) = $7,518,452 (up 477.8%)
Net Income = $487,678 (down 16.7%)
These figures are unaudited.
The percentage changes are the difference between 6/30/09 and 6/30/10 figures.
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The Board of Directors has authorized the purchase of Company stock at a price equal to 90% of the last available book value, as prepared on a GAAP basis, adjusted for unpaid declared dividends. Please note that this offer is subject to change. See the complete Tender Offer.
As of June 30, 2010, this adjusted book value is $3.359 per share.
Therefore, the current tender price is $3.02 per share.
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The following semi-annual dividend has been paid during 2010 to stockholders of record at the end of the month preceding payment:
A 10 cent per share dividend paid April 10, 2010.
The Company's second semi-annual dividend will be determined in the summer Board meeting for payment in October, 2010.
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