2018 Q4 Form 10-Q Financial Statement

#000114420418059050 Filed on November 13, 2018

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2017 Q4
Revenue $7.812M $6.766M $7.560M
YoY Change 3.33% 18.22% 46.51%
Cost Of Revenue $2.673M $1.817M $2.260M
YoY Change 18.27% 15.5% 49.67%
Gross Profit $5.139M $4.949M $5.300M
YoY Change -3.04% 19.26% 45.21%
Gross Profit Margin 65.78% 73.14% 70.11%
Selling, General & Admin $1.998M $1.309M $1.020M
YoY Change 95.85% 33.52% 27.5%
% of Gross Profit 38.87% 26.44% 19.25%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $589.8K $392.8K $330.0K
YoY Change 78.71% 21.82% 10.0%
% of Gross Profit 11.48% 7.94% 6.23%
Operating Expenses $4.517M $3.114M $2.710M
YoY Change 66.67% 35.38% 38.27%
Operating Profit $622.3K $1.576M $2.590M
YoY Change -75.97% 4.95% 53.25%
Interest Expense -$289.8K $258.9K -$340.0K
YoY Change -14.77% -26.28% -2.86%
% of Operating Profit -46.57% 16.42% -13.13%
Other Income/Expense, Net -$367.0K -$4.104K $0.00
YoY Change -157.74%
Pretax Income -$34.46K $1.572M $2.240M
YoY Change -101.54% 4.19% 67.16%
Income Tax $2.760M $871.00 $0.00
% Of Pretax Income 0.06% 0.0%
Net Earnings -$1.956M $1.100M $1.570M
YoY Change -224.6% 4.16% 70.65%
Net Earnings / Revenue -25.04% 16.25% 20.77%
Basic Earnings Per Share
Diluted Earnings Per Share -$108.9K $61.20K $84.41K
COMMON SHARES
Basic Shares Outstanding 14.98M shares 14.98M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q4 2018 Q3 2017 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $256.5K $327.3K $880.0K
YoY Change -70.86% -67.28% -1.12%
Cash & Equivalents $256.5K $327.3K $884.3K
Short-Term Investments
Other Short-Term Assets $2.190M $2.571M $970.0K
YoY Change 125.77% 192.18% 67.24%
Inventory $1.164M $1.298M $936.5K
Prepaid Expenses $2.505M $900.7K
Receivables $8.213M $7.812M $5.679M
Other Receivables $157.4K $7.455K $3.334K
Total Short-Term Assets $11.98M $12.07M $10.26M
YoY Change 16.75% 13.61% 38.34%
LONG-TERM ASSETS
Property, Plant & Equipment $38.53M $26.07M $26.15M
YoY Change 47.32% -0.73% 12.36%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.959M $845.6K $940.0K
YoY Change 108.38% -10.04% -6.93%
Total Long-Term Assets $40.49M $38.58M $38.42M
YoY Change 5.39% 41.77% 58.19%
TOTAL ASSETS
Total Short-Term Assets $11.98M $12.07M $10.26M
Total Long-Term Assets $40.49M $38.58M $38.42M
Total Assets $52.47M $50.64M $48.68M
YoY Change 7.78% 33.87% 53.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.636M $2.728M $2.106M
YoY Change 72.67% 80.67% 183.14%
Accrued Expenses $383.9K $61.48K $60.00K
YoY Change 539.9% 2.47% 20.0%
Deferred Revenue
YoY Change
Short-Term Debt $668.2K $0.00 $445.6K
YoY Change 49.93% -100.0%
Long-Term Debt Due $2.162M $2.236M $2.310M
YoY Change -6.41% 84.83% 0.0%
Total Short-Term Liabilities $7.171M $5.964M $5.080M
YoY Change 41.18% 44.75% 57.86%
LONG-TERM LIABILITIES
Long-Term Debt $22.03M $20.01M $23.37M
YoY Change -5.73% 17.48% 39.11%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $22.03M $20.01M $23.37M
YoY Change -5.73% 17.48% 39.11%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.171M $5.964M $5.080M
Total Long-Term Liabilities $22.03M $20.01M $23.37M
Total Liabilities $38.33M $25.97M $28.45M
YoY Change 34.74% -6.31% 42.12%
SHAREHOLDERS EQUITY
Retained Earnings $14.87M $10.92M
YoY Change 74.07%
Common Stock $2.206M $2.066M
YoY Change 80.26%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $14.14M $16.00M $12.89M
YoY Change
Total Liabilities & Shareholders Equity $52.47M $50.64M $48.68M
YoY Change 7.78% 33.87% 53.55%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2017 Q4
OPERATING ACTIVITIES
Net Income -$1.956M $1.100M $1.570M
YoY Change -224.6% 4.16% 70.65%
Depreciation, Depletion And Amortization $589.8K $392.8K $330.0K
YoY Change 78.71% 21.82% 10.0%
Cash From Operating Activities $1.971M $4.458M $4.180M
YoY Change -52.84% 95.53% 287.04%
INVESTING ACTIVITIES
Capital Expenditures $3.192M -$5.840M -$10.88M
YoY Change -129.34% 249.71% 8269.23%
Acquisitions
YoY Change
Other Investing Activities -$3.398M $2.899M $30.00K
YoY Change -11426.4% -105.26%
Cash From Investing Activities -$205.9K -$2.941M -$10.85M
YoY Change -98.1% 444.67% 1472.46%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.769M -1.514M 6.610M
YoY Change -126.76% 10.52% -22133.33%
NET CHANGE
Cash From Operating Activities 1.971M 4.458M 4.180M
Cash From Investing Activities -205.9K -2.941M -10.85M
Cash From Financing Activities -1.769M -1.514M 6.610M
Net Change In Cash -3.760K 2.620K -60.00K
YoY Change -93.73% -99.29% -116.67%
FREE CASH FLOW
Cash From Operating Activities $1.971M $4.458M $4.180M
Capital Expenditures $3.192M -$5.840M -$10.88M
Free Cash Flow -$1.221M $10.30M $15.06M
YoY Change -108.11% 160.71% 1144.63%

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CY2017Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
25740 USD
CY2018Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
7812061 USD
CY2017Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
5678957 USD
CY2018Q3 us-gaap Inventory Net
InventoryNet
1297748 USD
CY2017Q4 us-gaap Inventory Net
InventoryNet
936549 USD
CY2018Q3 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
2505473 USD
CY2017Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
900680 USD
CY2018Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
30703468 USD
CY2017Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
29867414 USD
CY2018Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
4635144 USD
CY2017Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3715784 USD
CY2018Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
26068324 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
26151630 USD
us-gaap Depreciation
Depreciation
1175020 USD
us-gaap Depreciation
Depreciation
936827 USD
CY2018Q3 us-gaap Depreciation
Depreciation
392840 USD
CY2017Q3 us-gaap Depreciation
Depreciation
322476 USD
CY2018Q3 us-gaap Deferred Costs Current
DeferredCostsCurrent
65690 USD
CY2017Q4 us-gaap Deferred Costs Current
DeferredCostsCurrent
69334 USD
CY2018Q3 us-gaap Deferred Costs
DeferredCosts
51551 USD
CY2017Q4 us-gaap Deferred Costs
DeferredCosts
106411 USD
jrss Consulting Fee
ConsultingFee
51937 USD
jrss Consulting Fee
ConsultingFee
49715 USD
CY2018Q3 jrss Consulting Fee
ConsultingFee
16512 USD
CY2017Q3 jrss Consulting Fee
ConsultingFee
16903 USD
CY2018Q3 us-gaap Capital Leases Future Minimum Payments Due Current
CapitalLeasesFutureMinimumPaymentsDueCurrent
1353057 USD
CY2018Q3 us-gaap Capital Leases Future Minimum Payments Due In Two Years
CapitalLeasesFutureMinimumPaymentsDueInTwoYears
2164271 USD
CY2018Q3 us-gaap Capital Leases Future Minimum Payments Due In Three Years
CapitalLeasesFutureMinimumPaymentsDueInThreeYears
1124109 USD
CY2018Q3 us-gaap Capital Leases Future Minimum Payments Due Thereafter
CapitalLeasesFutureMinimumPaymentsDueThereafter
17034894 USD
CY2018Q3 us-gaap Capital Leases Future Minimum Payments Due
CapitalLeasesFutureMinimumPaymentsDue
21676331 USD
jrss Capital Lease Financing Fees
CapitalLeaseFinancingFees
914725 USD
jrss Capital Lease Financing Fees
CapitalLeaseFinancingFees
969036 USD
CY2018Q3 jrss Capital Lease Financing Fees
CapitalLeaseFinancingFees
279920 USD
CY2017Q3 jrss Capital Lease Financing Fees
CapitalLeaseFinancingFees
328706 USD
CY2018Q3 us-gaap Short Term Borrowings
ShortTermBorrowings
0 USD
CY2017Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
445647 USD
CY2018Q3 us-gaap Short Term Debt Percentage Bearing Fixed Interest Rate
ShortTermDebtPercentageBearingFixedInterestRate
0.0609 pure
us-gaap Interest Expense Debt
InterestExpenseDebt
2184 USD
us-gaap Interest Expense Debt
InterestExpenseDebt
17226 USD
CY2017Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
6737 USD
us-gaap Revenues
Revenues
20590734 USD
us-gaap Revenues
Revenues
16592306 USD
CY2018Q3 us-gaap Revenues
Revenues
6766087 USD
CY2017Q3 us-gaap Revenues
Revenues
5723097 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
5507 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2072 USD
CY2018Q3 us-gaap Due From Related Parties Current
DueFromRelatedPartiesCurrent
50000 USD
CY2017Q4 us-gaap Due From Related Parties Current
DueFromRelatedPartiesCurrent
1788710 USD
CY2018Q3 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
897736 USD
CY2017Q4 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
73993 USD
us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
1268786 USD
us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
2008014 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
3949191 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
3080739 USD
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
14939432 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
13915000 shares
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.2643
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.2214
CY2017Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
36881 USD
CY2017Q3 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P5Y
CY2017Q4 us-gaap Deposits
Deposits
3842 USD
CY2017Q4 us-gaap Operating Lease Expense
OperatingLeaseExpense
68128 USD
CY2017Q4 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P5Y
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
28634 USD
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
130109 USD
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
136550 USD
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
142074 USD
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
142506 USD
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
579873 USD
CY2018Q3 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
24886 USD
CY2018Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2017Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2018Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2017Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2018Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
14975000 shares
CY2018Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
14975000 shares
CY2017Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
14835000 shares
CY2017Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
14835000 shares
us-gaap Use Of Estimates
UseOfEstimates
<div style="text-align:left;"><table style="border-width: initial; border-top-style: none; border-bottom-style: none; border-color: initial; border-image: initial; border-collapse: collapse; margin-bottom: 0.001pt; width: 100%;"><tr><td style="border-width: initial; border-bottom-style: none; border-color: initial; border-top-style: none; padding: 0pt 0px; vertical-align: top; width: 2%;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-right: 0px; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="color: rgb(0, 0, 0); font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;">C.</div></div></div></td><td style="border-width: initial; border-bottom-style: none; border-color: initial; border-top-style: none; padding: 0pt 0px; vertical-align: top; width: 98%;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; text-align: justify; margin-right: 0px; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="color: rgb(0, 0, 0); font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;">Use of estimates</div></div></div></td></tr></table><div style="clear:both;"></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="white-space: pre-line; color: rgb(0, 0, 0); font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px;"><div style="color: rgb(0, 0, 0); font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">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&#160;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.&#160;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="text-align:left;"><table style="border-width: initial; border-top-style: none; border-bottom-style: none; border-color: initial; border-image: initial; border-collapse: collapse; margin-bottom: 0.001pt; width: 100%;"><tr><td style="border-width: initial; border-bottom-style: none; border-color: initial; border-top-style: none; padding: 0pt 0px; vertical-align: top; width: 2%;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-right: 0px; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="color: rgb(0, 0, 0); font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;">E.</div></div></div></td><td style="border-width: initial; border-bottom-style: none; border-color: initial; border-top-style: none; padding: 0pt 0px; vertical-align: top; width: 98%;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; text-align: justify; margin-right: 0px; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="color: rgb(0, 0, 0); font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;">Concentration of Credit Risk</div></div></div></td></tr></table><div style="clear:both;"></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="white-space: pre-line; color: rgb(0, 0, 0); font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px;"><div style="color: rgb(0, 0, 0); font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">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 nine months ended September 30, 2018 and 2017, no customer accounted for more than 10% of net revenue. As of September 30, 2018, and December 31, 2017, 4 and 2 customers accounted for more than 5% 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>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="text-align:left;"><table style="border-width: initial; border-top-style: none; border-bottom-style: none; border-color: initial; border-image: initial; border-collapse: collapse; margin-bottom: 0.001pt; width: 100%;"><tr><td style="border-width: initial; border-bottom-style: none; border-color: initial; border-top-style: none; padding: 0pt 0px; vertical-align: top; width: 2%;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-right: 0px; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="color: rgb(0, 0, 0); font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;">Q.</div></div></div></td><td style="border-width: initial; border-bottom-style: none; border-color: initial; border-top-style: none; padding: 0pt 0px; vertical-align: top; width: 98%;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; text-align: justify; margin-right: 0px; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="color: rgb(0, 0, 0); font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;">Reclassification</div></div></div></td></tr></table><div style="clear:both;"></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.5in; margin-right: 0px; background: none;"><div style="white-space: pre-line; color: rgb(0, 0, 0); font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px;"><div style="color: rgb(0, 0, 0); font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The comparative figures have been reclassified to conform to current year presentation.</div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
jrss Prepaid Expenses Current
PrepaidExpensesCurrent
<div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; text-transform: uppercase; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">NOTE 5. 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border-bottom-style: none; border-color: initial; border-top-style: none; padding: 0pt 0px; vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-right: 0px; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">&#160;</div></div></div></td><td colspan="2" style="border-width: initial; border-bottom-style: none; border-color: initial; border-top-style: none; padding: 0pt 0px; vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; text-align: center; margin-right: 0px; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; 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font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="border-width: initial; border-bottom-style: none; border-color: initial; border-top-style: none; padding: 0px 0px 1pt; vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-right: 0px; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-line; color: rgb(0, 0, 0); font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">&#160;</div></div></div></td><td colspan="2" style="border-bottom: 1pt solid rgb(0, 0, 0); border-left-width: initial; border-left-color: initial; border-right-width: initial; border-right-color: initial; border-top: none; padding: 0pt 0px; vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; 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text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">&#160;</div></div></div></td><td style="border-width: initial; border-bottom-style: none; border-color: initial; border-top-style: none; padding: 0pt 0px; vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-right: 0px; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td colspan="2" style="border-width: initial; border-bottom-style: none; border-color: initial; border-top-style: none; padding: 0pt 0px; vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; text-align: center; margin-right: 0px; margin-bottom: 0px; 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font-size: 10pt; background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: rgb(204, 238, 255); border-width: initial; border-bottom-style: none; border-color: initial; border-top-style: none; padding: 0pt 0px; vertical-align: bottom; width: 1%;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-right: 0px; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="color: rgb(0, 0, 0); font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">$</div></div></td><td style="background: rgb(204, 238, 255); border-width: initial; border-bottom-style: none; border-color: initial; border-top-style: none; padding: 0pt 0px; vertical-align: bottom; width: 11%;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; text-align: right; margin-right: 0px; margin-bottom: 0px; margin-top: 0px; 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padding: 0pt 0px; vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-right: 0px; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="color: rgb(0, 0, 0); font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: rgb(255, 255, 255); border-width: initial; border-bottom-style: none; border-color: initial; border-top-style: none; padding: 0pt 0px; vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; text-align: right; margin-right: 0px; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="color: rgb(0, 0, 0); font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">-</div></div></td><td style="background: rgb(255, 255, 255); border-width: initial; border-bottom-style: none; border-color: initial; border-top-style: none; padding: 0pt 0px; vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-right: 0px; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="color: rgb(0, 0, 0); font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: rgb(255, 255, 255); border-width: initial; border-bottom-style: none; border-color: initial; border-top-style: none; padding: 0pt 0px; vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-right: 0px; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="color: rgb(0, 0, 0); font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: rgb(255, 255, 255); border-width: initial; border-bottom-style: none; border-color: initial; border-top-style: none; padding: 0pt 0px; vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-right: 0px; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="color: rgb(0, 0, 0); font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: rgb(255, 255, 255); border-width: initial; border-bottom-style: none; border-color: initial; border-top-style: none; padding: 0pt 0px; vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; text-align: right; margin-right: 0px; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="color: rgb(0, 0, 0); font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">117,188</div></div></td><td style="background: rgb(255, 255, 255); border-width: initial; border-bottom-style: none; border-color: initial; border-top-style: none; padding: 0pt 0px; vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-right: 0px; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="color: rgb(0, 0, 0); font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td></tr><tr><td style="background: rgb(204, 238, 255); border-width: initial; border-bottom-style: none; border-color: initial; border-top-style: none; padding: 0pt 0px; vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-right: 0px; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="color: rgb(0, 0, 0); font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Rentals and leases</div></div></td><td style="background: rgb(204, 238, 255); border-width: initial; border-bottom-style: none; border-color: initial; border-top-style: none; padding: 0pt 0px; vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-right: 0px; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="color: rgb(0, 0, 0); font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: rgb(204, 238, 255); border-width: initial; border-bottom-style: none; border-color: initial; border-top-style: none; padding: 0pt 0px; vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-right: 0px; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="color: rgb(0, 0, 0); font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: rgb(204, 238, 255); border-width: initial; border-bottom-style: none; border-color: initial; border-top-style: none; padding: 0pt 0px; vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; text-align: right; margin-right: 0px; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="color: rgb(0, 0, 0); font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">61,150</div></div></td><td style="background: rgb(204, 238, 255); border-width: initial; border-bottom-style: none; border-color: initial; border-top-style: none; padding: 0pt 0px; vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-right: 0px; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="color: rgb(0, 0, 0); font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: rgb(204, 238, 255); border-width: initial; border-bottom-style: none; border-color: initial; border-top-style: none; padding: 0pt 0px; vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-right: 0px; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="color: rgb(0, 0, 0); font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: rgb(204, 238, 255); border-width: initial; border-bottom-style: none; border-color: initial; border-top-style: none; padding: 0pt 0px; vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-right: 0px; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="color: rgb(0, 0, 0); font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: rgb(204, 238, 255); border-width: initial; border-bottom-style: none; border-color: initial; border-top-style: none; padding: 0pt 0px; vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; text-align: right; margin-right: 0px; 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CY2018Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
0 USD
CY2018Q3 us-gaap Minority Interest
MinorityInterest
8673475 USD
CY2017Q4 us-gaap Minority Interest
MinorityInterest
7339043 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
2963691 USD
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
1334432 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
3473860 USD
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
1510184 USD
CY2018Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
481594 USD
CY2018Q3 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
206958 USD
CY2017Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
1258966 USD
CY2017Q3 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
539418 USD
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
5877 USD
CY2017Q3 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
5877 USD
CY2018Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
471352 USD
CY2017Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
452538 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1692510 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1320317 USD
CY2012Q4 jrss Joint Venture Investment Obligation To Pay Capital
JointVentureInvestmentObligationToPayCapital
5555556 USD
dei Document Type
DocumentType
10-Q
dei Amendment Flag
AmendmentFlag
false
dei Document Period End Date
DocumentPeriodEndDate
2018-09-30
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2018
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Entity Registrant Name
EntityRegistrantName
JRSIS HEALTH CARE Corp
dei Entity Central Index Key
EntityCentralIndexKey
0001597892
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Trading Symbol
TradingSymbol
JRSS
CY2018Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
14975000 shares
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
dei Entity Small Business
EntitySmallBusiness
true

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