$JRSS

JRSIS HEALTH CARE Corp

CIK:0001597892|SEC Filings

Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
REVENUE	$ 222,922	$ 497,361	$ 1,320,738	$ 1,311,750
COST OF REVENUE	196,037	377,252	1,050,519	1,000,638
GROSS PROFIT	26,885	120,109	270,219	311,112
OPERATING EXPENSES:
Sales and marketing	106,876	10,358	322,378	32,453
General and administrative	97,359	22,538	384,962	172,566
Research and development	28,840	36,202	48,693	104,841
Total operating expenses	233,075	69,098	756,033	309,860
INCOME (LOSS) FROM OPERATIONS	(206,190)	51,011	(485,814)	1,252
OTHER INCOME (EXPENSE)
Interest income	23		182	3,061
Interest expense	(13,848)	(11,703)	(41,738)	(45,429)
Other income (expense)	45	(24)	20,605	17,758
Total other expense, net	(13,780)	(11,727)	(20,951)	(24,610)
INCOME (LOSS) BEFORE INCOME TAXES	(219,970)	39,284	(506,765)	(23,358)
INCOME TAXES EXPENSES (BENEFIT)	7	(123)	2,915	8,057
NET INCOME (LOSS)	(219,977)	39,407	(509,680)	(31,415)
Less: net income (loss) attributable to noncontrolling interest	(31,831)	5,702	(73,743)	(4,546)
NET INCOME (LOSS) ATTRIBUTABLE TO JRSIS HEALTH CARE CORPORATION	(188,146)	33,705	(435,937)	(26,869)
COMPREHENSIVE INCOME (LOSS)
NET INCOME (LOSS)	(219,977)	39,407	(509,680)	(31,415)
OTHER COMPREHENSIVE INCOME (LOSS)
Foreign currency translation adjustment	(5,332)	(1,628)	175	4,862
TOTAL COMPREHENSIVE INCOME (LOSS)	(225,309)	37,779	(509,505)	(26,553)
Less: comprehensive income (loss) attributable to noncontrolling interest	(32,703)	5,467	(73,779)	(3,841)
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO JRSIS HEALTH CARE CORPORATION	$ (192,606)	$ 32,312	$ (435,726)	$ (22,712)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES
WEIGHTED AVERAGE NUMBER OF COMMON SHARES- Basic (in Shares)	84,598,650	76,757,439	84,510,860	76,757,439
WEIGHTED AVERAGE NUMBER OF COMMON SHARES- Diluted (in Shares)	84,598,650	76,757,439	84,510,860	76,757,439
EARNINGS (LOSS) PER SHARE
Income (loss) per share - basic (in Dollars per share)	$ (0.0022)	$ 0.0004	$ (0.0052)	$ (0.0004)
Income (loss) per share- diluted (in Dollars per share)	$ (0.0022)	$ 0.0004	$ (0.0052)	$ (0.0004)

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss from continuing operations	$ (509,680)	$ (31,415)
Adjustments to reconcile net loss to cash provided by (used in) operating activities:
Depreciation and amortization	36,253	41,179
Right-of-use assets amortization	2,894	3,152
Lease liabilities interest expense	30	188
Inventories impairment (return)	(138,497)	(24,206)
Loss from disposal of equipment
Deferred income tax		4,487
Change in operating assets and liabilities
Accounts receivable	144,135	250,503
Accounts receivable - related parties	(578,004)	61,918
Advances to suppliers	294,389	(1,845)
Inventories	233,745	(18,258)
Prepayments and other receivables	(5,820)	(1,938)
Accounts payable	(101,568)	(48,784)
Accounts payable - related parties	(79,168)	203,521
Advances from customers	(161,191)	(3,803)
Taxes payable	8,226	(4,296)
Lease liabilities	(2,923)	(4,455)
Other payables and accrued liabilities	31,118	(4,982)
Net cash provided by (used in) operating activities	(826,061)	420,966
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment		(249)
Purchase of intangible assets	(9,182)
Net cash used in investing activities	(9,182)	(249)
CASH FLOWS FROM FINANCING ACTIVITIES:
Cash from issuance of common shares	20,045
Proceeds from loans	1,278,186	426,482
Repayment of short-term loans	(981,956)	(1,016,509)
Contribution from VIE’s legal owners	419,578
Amount financed from (to) related parties	(15,823)	13,785
Net cash provided by (used in) financing activities	720,030	(576,242)
EFFECT OF EXCHANGE RATE ON CASH	(1,529)	(2,547)
DECREASE IN CASH	(116,742)	(158,072)
CASH, beginning of period	118,114	158,813
CASH, end of period	1,372	741
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for income tax	3,870	4,978
Cash paid for interest expense, net of capitalized interest	40,817	41,301
NON-CASH TRANSACTIONS OF INVESTING AND FINANCING ACTIVITIES
Right-of-use assets decreased in amendment current operating lease liabilities	$ 339

Consolidated Balance Sheets - USD ($)	Sep. 30, 2024	Dec. 31, 2023
CURRENT ASSETS
Cash	$ 1,372	$ 118,114
Accounts receivable, net	575,205	714,658
Advances to suppliers	48,074	345,961
Inventories	361,774	455,240
Prepayments and other receivables	84,086	77,211
Total Current Assets	1,788,562	1,833,890
NON-CURRENT ASSETS
Equipment and vehicles, net	43,162	50,024
Intangible assets, net	241,146	257,334
Right of use assets		3,277
Total Non-Current Assets	284,308	310,635
TOTAL ASSETS	2,072,870	2,144,525
CURRENT LIABILITIES
Short-term loans	1,310,990	983,007
Long-term loans due within one year	25,243	18,713
Accounts payable, trade	442,246	540,086
Advances from customers	55,545	218,313
Taxes payable	27,504	18,845
Other payables and accrued liabilities	256,388	221,869
Operating lease liabilities, current		3,277
Total Current Liabilities	2,301,036	2,280,227
Long-term loans - noncurrent portion	6,311	24,950
TOTAL LIABILITIES	2,307,347	2,305,177
COMMITMENTS AND CONTINGENCIES
EQUITY
Preferred stock, $0.0001 par value; 2,000,000 shares preferred stock authorized; nil issued and outstanding as of September 30, 2024 and December 31, 2023, respectively
Common stock, $0.0001 par value; 100,000,000 shares authorized; 84,598,650 and 82,594,105 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively	8,460	8,259
Additional paid-in capital	3,529,710	3,154,373
Accumulated deficit	(3,878,835)	(3,442,898)
Accumulated other comprehensive income	143,071	142,860
Total JRSIS HEALTH CARE CORPORATION’s equity	(197,594)	(137,406)
NONCONTROLLING INTERESTS	(36,883)	(23,246)
TOTAL EQUITY	(234,477)	(160,652)
TOTAL LIABILITIES AND EQUITY	2,072,870	2,144,525
Related Party
CURRENT ASSETS
Accounts receivable, net - related parties	715,344	121,086
Amount due from related parties	2,707	1,620
CURRENT LIABILITIES
Accounts payable, trade-related parties	183,063	261,200
Amount due to related parties	$ 57	$ 14,917