Company: OXBRW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-023960
Chunk: 128

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 2
Chunk 128
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. We have no plans to issue debt, and we expect to fund our operations for the foreseeable future from operating
cash flows, as well as from current and potential future equity offerings. However, we cannot provide assurances that in the future we
will not incur indebtedness to implement our business strategy, pay claims or make acquisitions.

Although
Oxbridge Re Holdings Limited is not subject to any significant legal prohibitions on the payment of dividends, its subsidiaries Oxbridge
Reinsurance Limited and Oxbridge Re NS are subject to Cayman Islands regulatory constraints that affect its ability to pay dividends
to us and include a minimum net worth requirement. Currently, the minimum net worth requirement for each subsidiary is $500. As of June
30, 2025, each subsidiary exceeded the minimum required. By law, each subsidiary is restricted from paying a dividend if such a dividend
would cause its net worth to drop to less than the required minimum.

Cash
Flows

Our
cash flows from operating, investing, and financing activities for the six-month periods ended June 30, 2025 and 2024 are summarized
below.

Cash
Flows for the Six months ended June 30, 2025 (in thousands)

Net
cash used in operating activities for the six months ended June 30, 2025 totaled $1,899,
which consisted primarily of cash received net written premiums less cash disbursed for operating expenses. Net provided by investing
activities was $63, which consisted of consideration received on sale of investment in
Jet.AI. Net cash provided by financing activities was $2,596 which consisted of net
proceeds from issuance of ordinary shares through the Company’s ATM facility and the registered direct offering completed during
the period.

Cash
Flows for the Six months ended June 30, 2024 (in thousands)

Net
cash used in operating activities for the six months ended June 30, 2024 totaled $311, which consisted primarily of cash received
net written premiums less cash disbursed for operating expenses. Net provided by investing activities of $448 which was due to the repayment
of the note receivable by Jet.AI and the proceeds from the sale of two of our equity securities. Net cash provided by financing activities
was $103 which consisted primarily of net proceeds from Epsilon Cat Re participation shares represented by digital tokens offset by
the payments made to DeltaCat Re tokenholders.

32

OFF-BALANCE
SHEET ARRANGEMENTS

As
of June 30