2017 Q1 Form 10-K Financial Statement
#000114420417017152 Filed on March 29, 2017
Income Statement
| Concept | 2017 Q1 | 2016 | 2015 Q4 |
|---|---|---|---|
| Revenue | $5.511M | $18.12M | $3.810M |
| YoY Change | 25.0% | 52.61% | 145.81% |
| Cost Of Revenue | $1.650M | $4.882M | $1.010M |
| YoY Change | 49.2% | 46.56% | 129.55% |
| Gross Profit | $3.860M | $13.24M | $2.800M |
| YoY Change | 16.89% | 54.97% | 152.25% |
| Gross Profit Margin | 70.05% | 73.05% | 73.49% |
| Selling, General & Admin | $830.0K | $3.121M | $630.0K |
| YoY Change | 13.7% | 50.25% | 50.0% |
| % of Gross Profit | 21.5% | 23.58% | 22.5% |
| Research & Development | |||
| YoY Change | |||
| % of Gross Profit | |||
| Depreciation & Amortization | $303.0K | $1.081M | $240.0K |
| YoY Change | 26.1% | 23.99% | 242.86% |
| % of Gross Profit | 7.85% | 8.17% | 8.57% |
| Operating Expenses | $1.980M | $6.828M | $1.420M |
| YoY Change | 23.75% | 46.3% | 125.4% |
| Operating Profit | $1.592M | $5.023M | $1.380M |
| YoY Change | 17.02% | 91.03% | 187.5% |
| Interest Expense | $289.9K | -$1.385M | -$340.0K |
| YoY Change | -15.67% | -211.3% | -2.86% |
| % of Operating Profit | 18.22% | -27.57% | -24.64% |
| Other Income/Expense, Net | -$2.930K | $934.00 | $0.00 |
| YoY Change | -330.89% | -89.98% | -100.0% |
| Pretax Income | $1.589M | $5.024M | $1.040M |
| YoY Change | 16.7% | 90.39% | 642.86% |
| Income Tax | $919.00 | $4.060K | $0.00 |
| % Of Pretax Income | 0.06% | 0.08% | 0.0% |
| Net Earnings | $1.111M | $3.472M | $710.0K |
| YoY Change | 18.21% | 93.88% | 787.5% |
| Net Earnings / Revenue | 20.17% | 19.16% | 18.64% |
| Basic Earnings Per Share | |||
| Diluted Earnings Per Share | $66.47K | $207.9K | $42.54K |
| COMMON SHARES | |||
| Basic Shares Outstanding | 13.92M shares | 13.92M shares | |
| Diluted Shares Outstanding |
Balance Sheet
| Concept | 2017 Q1 | 2016 | 2015 Q4 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $250.0K | $890.7K | $350.0K |
| YoY Change | -39.02% | 152.92% | -66.67% |
| Cash & Equivalents | $245.4K | $890.7K | $352.2K |
| Short-Term Investments | |||
| Other Short-Term Assets | $730.0K | $583.7K | $260.0K |
| YoY Change | -47.48% | 120.62% | -66.67% |
| Inventory | $834.8K | $801.2K | $499.1K |
| Prepaid Expenses | $398.3K | $201.5K | |
| Receivables | $3.345M | $3.336M | $2.009M |
| Other Receivables | $3.149K | $1.807M | $2.125K |
| Total Short-Term Assets | $9.564M | $7.418M | $4.208M |
| YoY Change | 57.04% | 76.29% | 47.1% |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $23.96M | $23.27M | $22.45M |
| YoY Change | 6.88% | 3.68% | 10.41% |
| Goodwill | |||
| YoY Change | |||
| Intangibles | |||
| YoY Change | |||
| Long-Term Investments | |||
| YoY Change | |||
| Other Assets | $740.0K | $1.011M | $1.080M |
| YoY Change | -30.84% | -6.43% | 58.82% |
| Total Long-Term Assets | $24.70M | $24.28M | $23.53M |
| YoY Change | 5.11% | 3.22% | 11.99% |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $9.564M | $7.418M | $4.208M |
| Total Long-Term Assets | $24.70M | $24.28M | $23.53M |
| Total Assets | $34.27M | $31.70M | $27.74M |
| YoY Change | 15.8% | 14.3% | 16.2% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $1.415M | $743.7K | $352.8K |
| YoY Change | 194.69% | 110.79% | 21.19% |
| Accrued Expenses | $60.00K | $52.07K | $40.00K |
| YoY Change | 20.0% | 17.33% | 33.33% |
| Deferred Revenue | |||
| YoY Change | |||
| Short-Term Debt | $420.8K | $25.33K | $0.00 |
| YoY Change | -19.07% | -73.98% | -100.0% |
| Long-Term Debt Due | $2.200M | $2.313M | $1.880M |
| YoY Change | 15.18% | 22.96% | 132.1% |
| Total Short-Term Liabilities | $4.245M | $3.218M | $2.461M |
| YoY Change | 41.48% | 30.77% | -17.31% |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $16.70M | $16.80M | $17.86M |
| YoY Change | -6.02% | -5.97% | 12.33% |
| Other Long-Term Liabilities | |||
| YoY Change | |||
| Total Long-Term Liabilities | $16.70M | $16.80M | $17.86M |
| YoY Change | -6.02% | -5.97% | 12.33% |
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $4.245M | $3.218M | $2.461M |
| Total Long-Term Liabilities | $16.70M | $16.80M | $17.86M |
| Total Liabilities | $20.94M | $25.07M | $20.32M |
| YoY Change | -15.99% | 4.24% | 7.66% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | $7.386M | $2.802M | |
| YoY Change | 177.04% | ||
| Common Stock | $1.146M | $1.146M | |
| YoY Change | 18.39% | ||
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | |||
| YoY Change | |||
| Treasury Stock Shares | |||
| Shareholders Equity | $7.764M | $6.634M | $3.688M |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $34.27M | $31.70M | $27.74M |
| YoY Change | 15.8% | 14.3% | 16.2% |
Cashflow Statement
| Concept | 2017 Q1 | 2016 | 2015 Q4 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | $1.111M | $3.472M | $710.0K |
| YoY Change | 18.21% | 93.88% | 787.5% |
| Depreciation, Depletion And Amortization | $303.0K | $1.081M | $240.0K |
| YoY Change | 26.1% | 23.99% | 242.86% |
| Cash From Operating Activities | $216.0K | $4.986M | $1.100M |
| YoY Change | -84.0% | 96.97% | 35.8% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | $373.1K | $3.476M | -$1.400M |
| YoY Change | 428.71% | -32.56% | 2.94% |
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | -$135.3K | $10.00K | |
| YoY Change | -121.78% | -75.0% | |
| Cash From Investing Activities | -$591.8K | -$3.611M | -$1.390M |
| YoY Change | -49.85% | -20.34% | 5.3% |
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | |||
| YoY Change | |||
| Common Stock Issuance & Retirement, Net | $0.00 | $0.00 | |
| YoY Change | -100.0% | ||
| Debt Paid & Issued, Net | |||
| YoY Change | |||
| Cash From Financing Activities | -$272.4K | -$776.2K | 350.0K |
| YoY Change | 172.43% | -158.13% | -20.45% |
| NET CHANGE | |||
| Cash From Operating Activities | $216.0K | $4.986M | 1.100M |
| Cash From Investing Activities | -$591.8K | -$3.611M | -1.390M |
| Cash From Financing Activities | -$272.4K | -$776.2K | 350.0K |
| Net Change In Cash | -$648.3K | $599.5K | 60.00K |
| YoY Change | -1026.08% | -190.05% | -185.71% |
| FREE CASH FLOW | |||
| Cash From Operating Activities | $216.0K | $4.986M | $1.100M |
| Capital Expenditures | $373.1K | $3.476M | -$1.400M |
| Free Cash Flow | -$157.2K | $1.511M | $2.500M |
| YoY Change | -112.28% | -157.62% | 15.21% |
Facts In Submission
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|---|---|---|---|---|
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JRSIS HEALTH CARE Corp | |
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Concentration Risk Credit Risk
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<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: 0in 0in 0pt" align="justify"></div> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; LINE-HEIGHT: 115%; WIDTH: 100%; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.5in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top" width="48"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <i><font style="FONT-SIZE: 10pt">E.</font></i></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt" align="justify"><i><font style="FONT-SIZE: 10pt">Concentration of Credit Risk</font></i></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> </font> <font style="FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt"> </font></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" 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 years ended December 31, 2016 and 2015, no customer accounted for more than <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 10</font>% of net revenue. As of December 31, 2016and 2015, 1 and 1 customer accounted for more than <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">5</font>% 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> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> | |
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Related Party Transaction Purchases From Related Party
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Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
|
<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: 0in 0in 0pt" align="justify"></div> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; LINE-HEIGHT: 115%; WIDTH: 100%; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.5in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top" width="48"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <i><font style="FONT-SIZE: 10pt">Q.</font></i></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt" align="justify"><i><font style="FONT-SIZE: 10pt"> Reclassification</font></i></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">The comparative figures have been reclassified to conform to current year presentation.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> | |
| CY2016Q4 | us-gaap |
Short Term Borrowings
ShortTermBorrowings
|
0 | USD |
| CY2015Q4 | us-gaap |
Short Term Borrowings
ShortTermBorrowings
|
0 | USD |
| CY2016 | us-gaap |
Proceeds From Other Debt
ProceedsFromOtherDebt
|
2521933 | USD |
| CY2015 | us-gaap |
Proceeds From Other Debt
ProceedsFromOtherDebt
|
4872018 | USD |
| CY2014Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
4990240 | USD |
| CY2015 | us-gaap |
Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
|
178048 | USD |
| CY2015 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-392923 | USD |
| CY2016 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-744676 | USD |
| CY2016Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
| CY2015Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
| CY2016Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
100000000 | shares |
| CY2015Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
100000000 | shares |
| CY2016Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
13915000 | shares |
| CY2016Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
13915000 | shares |
| CY2015Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
13915000 | shares |
| CY2015Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
13915000 | shares |
| CY2016 | 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;MARGIN: 0in 0in 0pt" align="justify"></div> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; LINE-HEIGHT: 115%; WIDTH: 100%; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.5in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top" width="48"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <i><font style="FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font>C.</font></i></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt" align="justify"><i><font style="FONT-SIZE: 10pt">Use of estimates</font></i></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">The preparation of audited 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.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> |
