Consolidated Balance Sheets (USD $)	Dec. 31, 2011	Dec. 31, 2010
ASSETS
Cash and cash equivalents	$ 7,733,287	$ 7,958,473
Cash restricted	254,222	1,802,990
Short-term investments	125,008	145,085
Long-term investments, at fair value (amortized cost $7,831,560 and $8,561,245)	7,886,617	8,630,776
Marketable equity securities, at fair value (cost $0 and $1,978,166)	0	2,243,235
Other long-term investments	600,435	727,288
Investment income due and accrued	63,533	180,487
Real estate mortgage loans due from a related party	4,000,000	0
Receivable from insureds	25,132,462	30,858,022
Reinsurance recoverable (including $9,114,187 and $10,602,969 on paid losses)	36,664,396	34,013,415
Prepaid reinsurance premiums	19,466,923	23,643,822
Deferred acquisition costs	1,928,401	2,286,118
Property and equipment (net of accumulated depreciation of $3,847,396 and $3,260,449)	1,904,368	1,838,203
Other receivables	1,594,212	737,811
Prepaid expenses	450,080	541,736
Security deposits	33,833	33,833
Assets of discontinued operations	204,059	8,290,462
Prepaid income tax	0	106,864
Deferred tax assets	0	2,425,571
Total assets	108,041,836	126,464,191
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable and accrued expenses	7,289,171	6,685,262
Unearned premium	28,101,244	34,217,108
Unpaid losses and loss adjustment expenses	42,098,263	33,311,067
Reinsurance payable	20,538,203	29,426,944
Provisional commission reserve	2,453,125	3,289,272
Funds withheld from reinsurers	325,000	1,875,000
Liabilities of discontinued operations	595,014	2,026,825
Notes payable due to a related party	1,557,911	0
Revolving line of credit	0	1,500,000
Other notes and interest payable	116,956	175,420
Total liabilities	103,074,887	112,506,898
Commitments and Contingencies
Common stock, $.01 par value (authorized 120,000,000 and outstanding 65,810,531 and 65,494,357)	658,105	654,943
Paid in capital	20,618,146	17,875,779
Accumulated deficit	(16,343,713)	(4,782,554)
Accumulated other comprehensive gains:
Net unrealized gains on investment securities, net of taxes	34,411	209,125
Total stockholders' equity	4,966,949	13,957,293
Total liabilities and stockholders' equity	$ 108,041,836	$ 126,464,191

ASSURANCEAMERICA CORP 10-K