Mon, Mar 31, 12:05 PM (27 days ago)
**Texas Republic Capital Corporation (TRCC) (TRCC: OTC)** **Financial Performance:** - **Revenue:** $6,386,997 (2024) vs. $5,091,317 (2023), a 25% increase. - **Net Income:** -$832,146 (2024) vs. -$1,389,294 (2023), a 40% improvement. - **Earnings per Share:** -$0.05 (2024) vs. -$0.09 (2023). **Operating Expenses:** - **Total Expenses:** $7,219,143 (2024) vs. $6,480,611 (2023), an 11% increase. - **Significant Expense Categories:** Benefits, claims, commissions, salaries, and general administrative expenses. **Strategic Overview:** - **Business Model:** Holding company for Texas Republic Life Insurance Company (TRLIC), Texas Republic Life Solutions, Inc. (TRLS), and Axis Insurance Solutions, LLC (AIS). - **Market Position:** Operates in a competitive life insurance industry, focusing on niche markets and technology-driven solutions. - **Risk Management:** Utilizes reinsurance to manage risk and ensure growth. **Future Outlook:** - **Growth Strategy:** Expanding product offerings, leveraging technology, and targeting underserved markets. - **Capitalization:** Continued capital contributions and strategic investments in subsidiaries. **Risk Factors:** - **Market Risks:** Competition, economic conditions, and interest rate fluctuations. - **Operational Risks:** Dependence on key personnel, regulatory changes, and technological advancements. **Financial Condition:** - **Assets:** $33,811,480 (2024) vs. $42,557,399 (2023), a 21% decrease due to annuity surrenders. - **Liabilities:** $23,373,788 (2024) vs. $32,561,868 (2023). - **Shareholders' Equity:** $10,437,692 (2024) vs. $9,995,531 (2023), a 4.4% increase. **Market Position Changes:** - **Market Share:** Limited trading and no established public market. - **Shareholders:** Approximately 1,686 shareholders as of March 14, 2025. - **Dividends:** No dividends paid since inception. **Capital Raising:** - **Funding:** $28,733,077 raised through various offerings, with $2,769,064 in offering costs. - **Cash and Cash Equivalents:** $6,649,797 as of December 31, 2024. **Investments:** - **Portfolio:** Diversified investments in fixed maturity securities, mortgage loans, and other long-term investments. - **Performance:** Net investment income of $1,862,039 (2024) vs. $2,091,811 (2023). **Regulatory Environment:** - **Compliance:** Subject to Texas Department of Insurance regulations and other federal laws. - **Dividends:** Limited by Texas Insurance Code to 10% of surplus or net gain from operations. **Future Prospects:** - **Growth Potential:** Positive outlook with strategic investments and market expansion. - **Challenges:** Competitive pressures and economic uncertainties.