JNS Holding Corp (JNSH)

[Gatsby]

4th quarter sucked : small increase in Net Income in 4th quarter.
to conclude it sucks without looking through the Incomre and Charges is an incomplete analysis.
The difficulty is that they changed the format and split the Income between ordinary income and gain on sale of assets.

Waht should noted imo:
a) Gain on sale of assets : are we speaking about the EV chargers given. Does it includes the BLNK shares received ? Open question to read with my below additional comments.

b) Direct Labor : +81K versus avereage previous quarter 70'000 : No decrease so staff must be the same or higher (assumption: no increase in wage per employee).

c) Job materials : from 50k to 81.5K... more material bought compare to previous quarters.

d) so gross profit is +81K versus three first quarter.
Does it sucks as you said...
certainly not so good as the 3 first quarter (average 200K). The difference being from higher direct labor and Union benefits (comparing average on the three fisrt quarter and the fourth quarter alone); more material bought AND 58315 USD depreciation in fourth quarter compare to no depreciation in previous quarters.

e) other expenses... what are they telling us:
payroll : +25K compare to +11k in average --> more employees ?
profersinal fees : no increase.... no more legal problems ?
interest expenses : +5.6K versus 16.3K.. less interests paid


Assets and Liabiliies:

f) you are telling us they sold the BLNK shares. Not sure about that.
I see a specific Blink line in the Assets for USD 770K.
QUID : this is more than the value of the shares received.
Maybe this is the value of the shares when received (at 4.25) + the shares that were in a escrow account in case Blink was not paying a specific cash amount (do not have the number right in front of me... but something like 650K shares + 100K to be received?)
I note that the account receivable went down... I guess Blnk shares were accounted there previously.

g) For SB :
there is a new N/P for McGrath.... 34k... total note payable increased by +23k in 4th quarter...
no tin line with what stated about convertible notes...


h) they bought a vehicle +7.2K


I) Dut to attorney : this is new... +86K.. maybe the amount to paid to them after settlement (amount due in case of succesful settlement ?)

Notes and comments from JNSH about financial statements would be appreciated.. But it is alreay nice to have this FS available now..

With the new format and settlement in the books at end December, it should be easier to analyse 1Q 2019 numbers...