Fundamental Global Inc
For the period ended Dec 31, 2023. Filed Mar 14, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Mar 14, 2024
FGNXP$25.99+4.4%Stored close · as of Sep 25, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
($ in thousands)
| Year ended December 31, | |||
|---|---|---|---|
| 2023 · 2022 | |||
| Cash provided by (used in): | |||
| Operating activities: | |||
| Net income (loss) | $3,845 | $1,088 | |
| Adjustments to reconcile net income to net cash used by operating activities: | |||
| Change in unrealized holding on equity investments | (2,684) | (13,026) | |
| Income from equity method investments | (3,130) | (7,618) | |
| Increase in investment without a readily determinable fair value | (250) | - | |
| Increase in fair value of convertible note | (125) | - | |
| Net realized (gain) loss on sale of investments | (3,062) | 13,797 | |
| Stock compensation expense | 1,964 | 255 | |
| Changes in operating assets and liabilities: | |||
| Funds deposited with reinsured companies | 1,275 | (4,835) | |
| Reinsurance balances receivable | (12,408) | (5,416) | |
| Deferred policy acquisition costs | (133) | (741) | |
| Other assets | (571) | 114 | |
| Loss and loss adjustment expense reserves | 4,607 | 2,276 | |
| Unearned premium reserves | 6,653 | 3,213 | |
| Accounts payable and other liabilities | (196) | (129) | |
| Net cash used by operating activities | (4,215) | (11,022) | |
| Investing activities: | |||
| Purchases of furniture and equipment | - | (81) | |
| Purchases of equity method investments | (495) | (8,844) | |
| Purchases of other investments | (950) | - | |
| Distribution from equity method investments | 764 | 4,544 | |
| Proceeds from sales of equity securities | 4,604 | 698 | |
| Return of capital – other investments | 184 | 230 | |
| Net cash provided (used) by investing activities | 4,107 | (3,453) | |
| Financing activities: | |||
| Payment of dividends on preferred shares | (1,786) | (1,789) | |
| Proceeds from issuance common stock, net | 1,280 | 3,732 | |
| Net cash (used) provided by financing activities | (506) | 1,943 | |
| Net decrease in cash and cash equivalents | (614) | (12,532) | |
| Cash and cash equivalents at beginning of period | 3,010 | 15,542 | |
| Cash and cash equivalents at end of period | $2,396 | $3,010 | |
| Supplemental disclosure of cash flow information: | |||
| Carrying value of limited liability company interests received in connection with FG Special Situations Fund unwind | $13,754 | - | |
| Equity securities in OppFi received in connection with FG Special Situations Fund unwind | $1,916 | $ | - |
| Equity securities in iCoreConnect Inc received in connection with conversion of bridge loan | $654 | $ | - |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.