(1) As of February 3, 2011, the Company had 3,600,000 shares of common stock outstanding. The impact of the Company’s corporate conversion has been applied on a retrospective basis to January 1, 2010 to determine earnings per share for the years ended December 31, 2011 and 2010. As of December 31, 2014, there were 21,402, 990 issued and outstanding shares.
During the year ended December 31, 2014, 16 life settlements were acquired with face of $71.1 million that resulted in a gain of $5.9 million. Seven life insurance policies with face amounts totaling $25.5 million matured, the net gain on these maturities was $16.4 million. The gains related to acquisitions and maturities are included in income from changes in the fair value of life settlements in the consolidated statement of operations for the year ended December 31, 2014. The Company sold 14 policies resulting in a loss of approximately $426,000 on net proceeds received of $4.0 million. The loss is included in gain/loss on life settlement settlements in the consolidated statement of operations for the year ended December 31, 2014. We continue to believe that there are accretive opportunities to grow our existing portfolio of life settlements and intend to continue to deploy capital in both the secondary and tertiary life settlement markets in 2015. As we acquire more policies, our premium payments will increase. Assuming we recognize no policy maturities, our estimated premiums for 2015 would be $58.2 million. White Eagle would be eligible to borrow under the Revolving Credit Facility approximately $48.1 million of this amount to pay premiums on policies secured by the Revolving Credit Facility. See-Liquidity and Capital Resources. We also continue to seek opportunities to lend against portfolios of life settlements owned by institutional investors that satisfy our underwriting and return criteria.
Net cash used in investing activities for the year ended December 31, 2013 was $29.0 million and includes $12.1 million in proceeds received from sale of investment securities available for sale that was a result of the Company’s disposition of its available for sale investment portfolio, $12.0 million from maturity of life settlements associated with three deaths that occurred during the year, $5.8 million from sale of investments in life settlements that were associated with the sale of eight policies during 2013, $11.4 million from the sale of the structured settlement operations. These were offset by $65.1 million for premiums paid on investments in life settlements which resulted from an increase in the number of polices held and payments made on these policies to ensure they are on a quarterly payment schedule and $7.0 million for purchase of investment in life settlement through a termination agreement with our lender protection insurance provider.
Net cash provided by financing activities for the year ended December 31, 2013 was $69.2 million and includes $41.4 million in proceeds from the bridge facility that was obtained in March 2013, and $78.3 million from the Revolving Credit Facility. These were offset by repayment of a bridge facility of $45.0 million in April 2013 and payment of loan origination cost of $6.7 million associated with the bridge facility and Revolving Credit Facility.