2016 Q3 Form 10-Q Financial Statement
#000114420416119035 Filed on August 15, 2016
Income Statement
| Concept | 2016 Q3 |
|---|---|
| Revenue | $4.257M |
| YoY Change | 45.4% |
| Cost Of Revenue | $1.162M |
| YoY Change | 38.87% |
| Gross Profit | $3.095M |
| YoY Change | 48.02% |
| Gross Profit Margin | 72.71% |
| Selling, General & Admin | $760.0K |
| YoY Change | 52.0% |
| % of Gross Profit | 24.55% |
| Research & Development | |
| YoY Change | |
| % of Gross Profit | |
| Depreciation & Amortization | $282.3K |
| YoY Change | 22.42% |
| % of Gross Profit | 9.12% |
| Operating Expenses | $1.590M |
| YoY Change | 35.9% |
| Operating Profit | $1.171M |
| YoY Change | 95.0% |
| Interest Expense | $339.7K |
| YoY Change | 7.46% |
| % of Operating Profit | 29.02% |
| Other Income/Expense, Net | -$857.00 |
| YoY Change | -74.73% |
| Pretax Income | $1.170M |
| YoY Change | 95.96% |
| Income Tax | $866.00 |
| % Of Pretax Income | 0.07% |
| Net Earnings | $813.1K |
| YoY Change | 104.92% |
| Net Earnings / Revenue | 19.1% |
| Basic Earnings Per Share | |
| Diluted Earnings Per Share | $48.50K |
| COMMON SHARES | |
| Basic Shares Outstanding | 13.92M shares |
| Diluted Shares Outstanding |
Balance Sheet
| Concept | 2016 Q3 |
|---|---|
| SHORT-TERM ASSETS | |
| Cash & Short-Term Investments | $600.0K |
| YoY Change | 27.66% |
| Cash & Equivalents | $597.0K |
| Short-Term Investments | |
| Other Short-Term Assets | $540.0K |
| YoY Change | 315.38% |
| Inventory | $810.0K |
| Prepaid Expenses | |
| Receivables | $2.400M |
| Other Receivables | $1.580M |
| Total Short-Term Assets | $5.930M |
| YoY Change | 117.22% |
| LONG-TERM ASSETS | |
| Property, Plant & Equipment | $24.38M |
| YoY Change | 7.12% |
| Goodwill | |
| YoY Change | |
| Intangibles | |
| YoY Change | |
| Long-Term Investments | |
| YoY Change | |
| Other Assets | $1.070M |
| YoY Change | 5.94% |
| Total Long-Term Assets | $25.44M |
| YoY Change | 7.03% |
| TOTAL ASSETS | |
| Total Short-Term Assets | $5.930M |
| Total Long-Term Assets | $25.44M |
| Total Assets | $31.37M |
| YoY Change | 18.38% |
| SHORT-TERM LIABILITIES | |
| YoY Change | |
| Accounts Payable | $910.0K |
| YoY Change | 160.0% |
| Accrued Expenses | $50.00K |
| YoY Change | 25.0% |
| Deferred Revenue | |
| YoY Change | |
| Short-Term Debt | $434.8K |
| YoY Change | -14.75% |
| Long-Term Debt Due | $2.170M |
| YoY Change | 28.4% |
| Total Short-Term Liabilities | $3.639M |
| YoY Change | 38.9% |
| LONG-TERM LIABILITIES | |
| Long-Term Debt | $16.91M |
| YoY Change | -2.48% |
| Other Long-Term Liabilities | |
| YoY Change | |
| Total Long-Term Liabilities | $16.91M |
| YoY Change | -2.48% |
| TOTAL LIABILITIES | |
| Total Short-Term Liabilities | $3.639M |
| Total Long-Term Liabilities | $16.91M |
| Total Liabilities | $20.55M |
| YoY Change | -12.16% |
| SHAREHOLDERS EQUITY | |
| Retained Earnings | $5.350M |
| YoY Change | |
| Common Stock | $1.146M |
| YoY Change | |
| Preferred Stock | |
| YoY Change | |
| Treasury Stock (at cost) | |
| YoY Change | |
| Treasury Stock Shares | |
| Shareholders Equity | $6.041M |
| YoY Change | |
| Total Liabilities & Shareholders Equity | $31.37M |
| YoY Change | 18.39% |
Cashflow Statement
| Concept | 2016 Q3 |
|---|---|
| OPERATING ACTIVITIES | |
| Net Income | $813.1K |
| YoY Change | 104.92% |
| Depreciation, Depletion And Amortization | $282.3K |
| YoY Change | 22.42% |
| Cash From Operating Activities | $490.0K |
| YoY Change | -43.68% |
| INVESTING ACTIVITIES | |
| Capital Expenditures | -$480.0K |
| YoY Change | -64.18% |
| Acquisitions | |
| YoY Change | |
| Other Investing Activities | $430.0K |
| YoY Change | -23.21% |
| Cash From Investing Activities | -$50.00K |
| YoY Change | -93.59% |
| FINANCING ACTIVITIES | |
| Cash Dividend Paid | |
| YoY Change | |
| Common Stock Issuance & Retirement, Net | |
| YoY Change | |
| Debt Paid & Issued, Net | |
| YoY Change | |
| Cash From Financing Activities | -710.0K |
| YoY Change | 173.08% |
| NET CHANGE | |
| Cash From Operating Activities | 490.0K |
| Cash From Investing Activities | -50.00K |
| Cash From Financing Activities | -710.0K |
| Net Change In Cash | -270.0K |
| YoY Change | 58.82% |
| FREE CASH FLOW | |
| Cash From Operating Activities | $490.0K |
| Capital Expenditures | -$480.0K |
| Free Cash Flow | $970.0K |
| YoY Change | -56.11% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| us-gaap |
Other Nonoperating Income
OtherNonoperatingIncome
|
12593 | USD | |
| us-gaap |
Other Nonoperating Income
OtherNonoperatingIncome
|
4757 | USD | |
| CY2016Q2 | us-gaap |
Other Nonoperating Income
OtherNonoperatingIncome
|
3488 | USD |
| CY2015Q2 | us-gaap |
Other Nonoperating Income
OtherNonoperatingIncome
|
53 | USD |
| CY2016Q2 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
24898867 | USD |
| CY2015Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
23745925 | USD |
| CY2016Q2 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
1757150 | USD |
| CY2012Q4 | jrss |
Joint Venture Investment Obligation To Pay Capital
JointVentureInvestmentObligationToPayCapital
|
35000000 | CNY |
| CY2013Q2 | us-gaap |
Minority Interest Ownership Percentage By Noncontrolling Owners
MinorityInterestOwnershipPercentageByNoncontrollingOwners
|
0.7 | pure |
| us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
1735055 | USD | |
| us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
686074 | USD | |
| CY2016Q2 | us-gaap |
Capital Leases Future Minimum Payments Due In Two Years
CapitalLeasesFutureMinimumPaymentsDueInTwoYears
|
2099133 | USD |
| CY2016Q2 | us-gaap |
Capital Leases Future Minimum Payments Due In Three Years
CapitalLeasesFutureMinimumPaymentsDueInThreeYears
|
1151846 | USD |
| CY2016Q2 | us-gaap |
Capital Leases Future Minimum Payments Due Thereafter
CapitalLeasesFutureMinimumPaymentsDueThereafter
|
14081819 | USD |
| CY2016Q2 | us-gaap |
Capital Leases Future Minimum Payments Due
CapitalLeasesFutureMinimumPaymentsDue
|
18907433 | USD |
| CY2016Q2 | us-gaap |
Capital Leases Future Minimum Payments Due Current
CapitalLeasesFutureMinimumPaymentsDueCurrent
|
1574635 | USD |
| jrss |
Capital Lease Financing Fees
CapitalLeaseFinancingFees
|
697383 | USD | |
| jrss |
Capital Lease Financing Fees
CapitalLeaseFinancingFees
|
568821 | USD | |
| jrss |
Consulting Fee
ConsultingFee
|
34513 | USD | |
| CY2015Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
1298014 | USD |
| CY2016Q2 | us-gaap |
Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
|
2343601 | USD |
| CY2015Q4 | us-gaap |
Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
|
2035271 | USD |
| CY2016Q2 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
25210 | USD |
| CY2015Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
25802 | USD |
| us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.25 | pure | |
| dei |
Document Type
DocumentType
|
10-Q | ||
| dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001597892 | ||
| dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | ||
| dei |
Entity Filer Category
EntityFilerCategory
|
Smaller Reporting Company | ||
| dei |
Trading Symbol
TradingSymbol
|
JRSS | ||
| CY2016Q3 | dei |
Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
13915000 | shares |
| CY2016Q2 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
| dei |
Amendment Flag
AmendmentFlag
|
false | ||
| dei |
Document Period End Date
DocumentPeriodEndDate
|
2016-06-30 | ||
| dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2016 | ||
| dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q2 | ||
| dei |
Entity Registrant Name
EntityRegistrantName
|
JRSIS HEALTH CARE Corp | ||
| CY2015Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
13915000 | shares |
| CY2015Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
| CY2016Q2 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
100000000 | shares |
| CY2016Q2 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
13915000 | shares |
| CY2016Q2 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
13915000 | shares |
| us-gaap |
Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
|
488615 | USD | |
| us-gaap |
Increase Decrease In Deferred Charges
IncreaseDecreaseInDeferredCharges
|
0 | USD | |
| us-gaap |
Increase Decrease In Deferred Charges
IncreaseDecreaseInDeferredCharges
|
140376 | USD | |
| us-gaap |
Use Of Estimates
UseOfEstimates
|
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px 0pt 30pt; FONT: 10pt Times New Roman, Times, Serif"> </div> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid" cellspacing="0" cellpadding="0" width="100%"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 0.5in"> <div><i>C.</i></div> </td> <td> <div><i>Use of estimates</i></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">The preparation of unaudited consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting periods. Management makes these estimates using the best information available at the time the estimates are made; however actual results could differ from those estimates. Significant items subject to such estimates and assumptions include valuation allowances for receivables and recoverability of carrying amount and the estimated useful lives of long-lived assets. These estimates are often based on complex judgments and assumptions that management believes to be reasonable but are inherently uncertain and unpredictable. Actual results could differ from these estimates.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> | ||
| us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> </div> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid" cellspacing="0" cellpadding="0" width="100%"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 0.5in"> <div><i>E.</i></div> </td> <td> <div><i>Concentration of Credit Risk</i></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">  </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">Financial instruments that potentially subject the Company to concentrations of credit risk are cash, accounts receivable and other receivables arising from its normal business activities. The Company places its cash in what it believes to be credit-worthy financial institutions. The Company has a diversified customer base. The majority of sales are either cash receipt in advance or cash receipt upon delivery. For the six months ended June 30, 2016 and 2015, no customer accounted for more than 10% of net revenue. As of June 30, 2016 and December 31, 2015, 2 and 1 customer accounted for more than 10% of net accounts receivable, respectively. For those credit sales, the Company routinely assesses the financial strength of its customers and, based upon factors surrounding the credit risk, establishes an allowance, if required, for uncollectible accounts and, as a consequence, believes that its accounts receivable credit risk exposure beyond such allowance is limited.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> | ||
| CY2016Q2 | us-gaap |
Litigation Reserve Noncurrent
LitigationReserveNoncurrent
|
609950 | USD |
| CY2015Q4 | us-gaap |
Litigation Reserve Noncurrent
LitigationReserveNoncurrent
|
0 | USD |
| us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
76495 | USD | |
| us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
0 | USD | |
| CY2012Q4 | jrss |
Joint Venture Investment Obligation To Pay Capital
JointVentureInvestmentObligationToPayCapital
|
5555556 | USD |
| us-gaap |
Loss Contingency Damages Sought Value
LossContingencyDamagesSoughtValue
|
0 | USD | |
| CY2015 | us-gaap |
Loss Contingency Damages Sought Value
LossContingencyDamagesSoughtValue
|
0 | USD |
| jrss |
Consulting Fee
ConsultingFee
|
3971 | USD | |
| CY2016Q2 | jrss |
Consulting Fee
ConsultingFee
|
17267 | USD |
| CY2015Q2 | jrss |
Consulting Fee
ConsultingFee
|
3971 | USD |
| CY2016Q2 | us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
6910 | USD |
| CY2015Q2 | us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
9477 | USD |
| CY2016Q2 | jrss |
Capital Lease Financing Fees
CapitalLeaseFinancingFees
|
353904 | USD |
| CY2015Q2 | jrss |
Capital Lease Financing Fees
CapitalLeaseFinancingFees
|
292866 | USD |
| us-gaap |
Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
|
680245 | USD | |
| CY2013Q2 | jrss |
Capital Leases Frequency Of Periodic Payment
CapitalLeasesFrequencyOfPeriodicPayment
|
annual |
