MDWT Midwest Holding Inc.
Midwest Holding Inc. (“Midwest,” the “Company,” “we,” or “us”) was formed in Nebraska in 2003 as a financial services holding company. We have two subsidiaries that we operate our business through; 1) American Life & Security Corp. (“American Life”), is a Nebraska-domiciled life insurance company with executive offices at 2900 South 70th Street, Suite 400, Lincoln, Nebraska 68506, phone number (402) 489‑8266, and 2) 1505 Capital LLC (“1505 Capital”), a Delaware limited liability company, that provides financial and investment advisory and management services with an office at 100 Wall Street, 11th Floor, New York, NY 10038. As of December 31, 2019, statutory capital and surplus of American Life was approximately $19.5 million and it was rated “B++” (“Good”) by A.M. Best.
Company profile
Ticker
MDWT
Exchange
Website
CEO
A. Michael Salem
Employees
Incorporated in
Location
Fiscal year end
Industry (SEC)
Former names
Midwest Holding Inc
SEC CIK
Corporate docs
MDWT stock data
()
Investment data
Securities sold
Number of investors
Calendar
14 May 20
5 Jul 20
31 Dec 20
News
Company financial data Financial data
| Quarter (USD) | Mar 20 | Dec 19 | Sep 19 | Jun 19 | |
|---|---|---|---|---|---|
| Revenue | 24.41M | 379.4K | 452.14K | 1.56M | |
| Net income | 21.61M | -1.67M | -1.62M | -831.85K | |
| Diluted EPS | 0.02 | -0 | -0 | ||
| Net profit margin | 88.52% | -439% | -357% | -53.24% | |
| Net change in cash | -18.21M | 19.35M | 14.1M | 6.46M | |
| Cash on hand | 25.51M | 43.72M | 24.37M | 10.27M |
| Annual (USD) | Dec 19 | Dec 18 | Dec 17 | Dec 16 | |
|---|---|---|---|---|---|
| Revenue | 3.4M | 875.81K | 2.43M | 4.11M | |
| Net income | -5.61M | -5.07M | -2.75M | -3.85M | |
| Diluted EPS | -0.01 | -0.01 | -0.12 | -0.18 | |
| Net profit margin | -165% | -578% | -113% | -93.53% | |
| Operating income | -2.75M | -5.17M | |||
| Net change in cash | 40.88M | 1.88M | 289.98K | -530.79K | |
| Cash on hand | 43.72M | 2.83M | 951.53K | 661.55K |
Financial data from company earnings reports
Recent insider trades
| Date | Owner | Security | Transaction | Code | 10b5-1 | $Price | #Shares | $Value | #Remaining |
|---|---|---|---|---|---|---|---|---|---|
| 24 Apr 20 | Goel Sachin | Common Stock | Buy | Aquire P | No | 0.045 | 2,222,223 | 100K | 2,222,223 |
| 17 Jul 19 | Dana Stapleton | Options Common Stock | Grant | Aquire A | No | 0.05 | - | 33.33K | 50,000 |
| 17 Jul 19 | Dana Stapleton | Options Common Stock | Grant | Aquire A | No | 0.05 | - | 16.67K | 16,666 |
Content analysis
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| Readability |
8th grade Avg
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New words:
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Removed:
assimilating, assist, audit, auditing, back, BBB, billed, breaking, brokerage, categorized, characterized, claim, commutate, commutated, commutation, complex, consummation, cover, decided, Deferral, delayed, depict, detail, dilutive, diversify, enterprise, extinguish, firm, funding, greater, Hawaii, holder, incurring, infusion, iv, licensing, limit, liquidating, liquidation, low, matured, meeting, met, Mezzanine, newly, Observer, obtaining, partially, poor, preference, principle, profile, profit, program, promised, proposed, reached, record, recovered, redeem, redeemed, Reflecting, refund, reissuance, released, relieved, remain, remediation, retire, revision, schedule, September, SNL, stranded, transition, uncollectible, verify, volume, whichever
Financial reports
10-Q
2020 Q1
Quarterly report
14 May 20
10-K
2019 FY
Annual report
13 Mar 20
10-Q
2019 Q3
Quarterly report
8 Nov 19
10-Q
2019 Q2
Quarterly report
8 Aug 19
10-Q
2019 Q1
Quarterly report
23 May 19
NT 10-Q
Notice of Late Quarterly Filing
14 May 19
10-K
2018 FY
Annual report
1 May 19
NT 10-K
Notice of Late Annual Filing
1 Apr 19
10-Q
2018 Q3
Quarterly report
9 Nov 18
10-Q/A
2018 Q2
Quarterly report (amended)
28 Sep 18
Current reports
8-K
Entry into a Material Definitive Agreement
17 Jun 20
8-K
Entry into a Material Definitive Agreement
26 May 20
8-K
Regulation FD Disclosure
27 Apr 20
8-K
Entry into a Material Definitive Agreement
24 Apr 20
8-K
Entry into a Material Definitive Agreement
21 Apr 20
8-K
Regulation FD Disclosure
23 Jan 20
8-K
Entry into a Material Definitive Agreement
7 Aug 19
8-K
Unregistered Sales of Equity Securities
19 Jun 19
8-K
Departure of Directors or Certain Officers
17 Jun 19
8-K
Changes in Registrant's Certifying Accountant
7 May 19
Registration and prospectus
D
$10M in equity, sold $10M, 1 investor
7 May 20
D
$5.18M in equity, sold $5.18M, 37 investors
7 May 20
424B3
Prospectus supplement
23 Feb 16
S-4/A
Registration of securities issued in business combination transactions (amended)
29 Jan 16
S-4
Registration of securities issued in business combination transactions
8 Jan 16
424B3
Prospectus supplement
22 Sep 15
S-4
Registration of securities issued in business combination transactions
26 Aug 15
D
$6M in equity, sold $388K, 5 investors
4 Jun 14
424B3
Prospectus supplement
13 May 14
S-4/A
Registration of securities issued in business combination transactions (amended)
8 May 14
Proxies
DEF 14A
Definitive proxy
28 May 20
PRER14A
Preliminary revised proxy
19 May 20
PRE 14A
Preliminary proxy
8 May 20
DEF 14A
Definitive proxy
30 Apr 19
DEF 14A
Definitive proxy
22 Oct 18
PRE 14A
Preliminary proxy
2 Oct 18
DEF 14A
Definitive proxy
9 Jun 17
DEF 14A
Definitive proxy
29 Apr 16
DEF 14A
Definitive proxy
5 May 15
DEF 14A
Definitive proxy
1 May 14
Other
EFFECT
Notice of effectiveness
3 Feb 16
CORRESP
Correspondence with SEC
1 Feb 16
CORRESP
Correspondence with SEC
29 Jan 16
UPLOAD
Letter from SEC
26 Jan 16
EFFECT
Notice of effectiveness
11 Sep 15
CORRESP
Correspondence with SEC
9 Sep 15
UPLOAD
Letter from SEC
3 Sep 15
EFFECT
Notice of effectiveness
12 May 14
CORRESP
Correspondence with SEC
9 May 14
CORRESP
Correspondence with SEC
8 May 14
Ownership
SC 13D/A
MIDWEST HOLDING / Vespoint ownership change
6 May 20
SC 13D
MIDWEST HOLDING / BRATTON DOUGLAS K ownership change
4 May 20
3
MIDWEST HOLDING / DOUGLAS K BRATTON ownership change
4 May 20
3
MIDWEST HOLDING / Michael Minnich ownership change
1 May 20
4
MIDWEST HOLDING / Sachin Goel ownership change
28 Apr 20
3
MIDWEST HOLDING / Jennifer Hegemann ownership change
6 Dec 19
4
MIDWEST HOLDING / Dana Stapleton ownership change
29 Jul 19
3
MIDWEST HOLDING / Dana Stapleton ownership change
29 Jul 19
4
MIDWEST HOLDING / Sachin Goel ownership change
22 Jul 19
3
MIDWEST HOLDING / Sachin Goel ownership change
22 Jul 19