JNS Holding Corp (JNSH)

[Gatsby]

a few comments :
Income/profit:
As per 1Q 2020 (loss in Q1 2020), net profit (+$36K) is relatively low compared to income ($437K). As per SB, charges paid and booked versus income to receive, could/should be the reason.

General expenses (30.8K) are small. Most of the expenses are in the "Cost of goods" section. Mainly Direct Labor (158.7K), Job materials (73.4K) adn Union Benefit (104.5K).
In other terms, they have been busy working this Q1

Note the there was no "profit sharing" this time. Still wondering with whom they shared some profits...? What introducer or client provider... ? what kind of agreement brought this profit sharing... ?

Assets:
new vehicles.. value is up +49.5K
A nice chunk of the receivable were effectively received.. Plenty of cash at the bank
The "investment CS 8306" value hasn't been updated. Certainly using the investment cost as value.
Still a mystery what this investment is ? CS for charging station ? Whatever it is, hopefully this will turn out as a good investment in 2021

Liabilities

Bank credit line repaid (-50k)
Payroll liabilities decreased (-50K)
New notes to A.A.C. and Chrysler Capital for a total of 83.5K (+83.5K)

All together, liabilities are down to 288.5K (vs 305.8K end Dec 2020).

Conclusion:

a) Balance sheet improved as per what has been done in 2020: less liabilities, more cash.
b) Value of the investment unclear
c) strong sales with charges indicating that a lot of work has been perfomed
d) probability that some of the costs booked this quarter will generate the income only in Q2
e) Ma little two cents advise to them... please spend some money under "marketing" or add a nice "investor relations charges" new line

last but not least:
no change regarding O/S... even after some told us the scary "dilution" was at play each time we had volume