Quarterly report pursuant to Section 13 or 15(d)

Note 1 - Nature of Operations and Summary of Significant Accounting Policies (Tables)

v3.19.2
Note 1 - Nature of Operations and Summary of Significant Accounting Policies (Tables)
6 Months Ended
Jun. 30, 2019
Notes Tables  
Schedule of Error Corrections and Prior Period Adjustments [Table Text Block]
    Three Months Ended   Adjustments Due To   Three Months Ended
    June 30, 2018   VIE Consolidation   June 30, 2018
    (as reported)       (as adjusted)
Revenues:                        
Revenues from company-owned or managed clinics   $
3,420,685
     
1,247,953
    $
4,668,638
 
Total revenues    
7,556,832
     
1,247,953
     
8,804,785
 
General and administrative expenses    
4,656,308
     
1,211,204
     
5,867,512
 
Total selling, general and administrative expenses    
6,354,946
     
1,211,204
     
7,566,150
 
Loss from operations    
(100,402
)    
36,163
     
(64,239
)
                         
Other income (expense):                        
Bargain purchase gain    
75,264
     
(44,809
)    
30,455
 
Total other income    
63,575
     
(44,223
)    
19,352
 
                         
Loss before income tax expense    
(36,827
)    
(8,060
)    
(44,887
)
                         
Net loss and comprehensive loss   $
(42,778
)    
(8,060
)   $
(50,838
)
    Six Months Ended   Adjustments Due To   Six Months Ended
    June 30, 2018   VIE Consolidation   June 30, 2018
      (as reported)               (as adjusted)  
Revenues:                        
Revenues from company-owned or managed clinics   $
6,677,309
     
2,797,002
    $
9,474,311
 
Total revenues    
14,654,747
     
2,797,002
     
17,451,749
 
General and administrative expenses    
9,731,234
     
2,404,964
     
12,136,198
 
Total selling, general and administrative expenses    
12,919,593
     
2,404,964
     
15,324,557
 
Loss from operations    
(539,466
)    
391,064
     
(148,402
)
                         
Other income (expense):                        
Bargain purchase gain    
75,264
     
(44,809
)    
30,455
 
Total other income    
52,380
     
(43,835
)    
8,545
 
                         
Loss before income tax expense    
(487,086
)    
347,229
     
(139,857
)
                         
Net loss and comprehensive loss   $
(429,682
)    
347,229
    $
(82,453
)
                         
Loss per share:                        
Basic and diluted loss per share   $
(0.03
)    
0.02
    $
(0.01
)
                         
Basic and diluted weighted average shares    
13,605,370
     
-
     
13,605,370
 
    December 31,   Adjustments Due To   December 31,
    2018   VIE Consolidation   2018
ASSETS  
(as reported)
 
 
 
(as adjusted)
Current assets:                        
Accounts receivable, net    
1,213,707
 
   
(407,357
)    
806,350
 
Total current assets    
11,711,345
 
   
(407,357
)    
11,303,988
 
Goodwill    
2,916,426
 
   
308,719
     
3,225,145
 
Total assets   $
23,526,352
 
  $
(98,639
)   $
23,427,713
 
                         
LIABILITIES AND STOCKHOLDERS' EQUITY                        
Current liabilities:                        
Deferred revenue from company clinics    
994,493
 
   
1,535,004
     
2,529,497
 
Total current liabilities    
8,738,123
 
   
1,535,004
     
10,273,127
 
Total liabilities    
21,165,108
 
   
1,535,004
     
22,700,112
 
Commitments and contingencies                        
Equity:                        
The Joint Corp. stockholders' equity:                        
Accumulated deficit    
(35,750,908
)
   
(1,633,743
)    
(37,384,651
)
Total The Joint Corp. stockholders' equity    
2,361,244
 
   
(1,633,743
)    
727,501
 
Non-controlling Interest    
-
 
   
100
     
100
 
Total equity    
2,361,244
 
   
(1,633,643
)    
727,601
 
Total liabilities and equity   $
23,526,352
 
  $
(98,639
)   $
23,427,713
 
Schedule of Franchisor Disclosure [Table Text Block]
    Three Months Ended   Six Months Ended
    June 30,   June 30,
Franchised clinics:   2019   2018   2019   2018
Clinics open at beginning of period    
404
     
359
     
394
     
352
 
Opened or Purchased during the period    
14
     
8
     
26
     
15
 
Acquired or sold during the period    
     
(1
)    
(1
)    
(1
)
Closed during the period    
(1
)    
(1
)    
(2
)    
(1
)
Clinics in operation at the end of the period    
417
     
365
     
417
     
365
 
    Three Months Ended   Six Months Ended
    June 30,   June 30,
Company-owned or managed clinics:   2019   2018   2019   2018
Clinics open at beginning of period    
50
     
47
     
48
     
47
 
Opened during the period    
1
     
     
3
     
 
Acquired during the period    
     
1
     
1
     
1
 
Closed or Sold during the period    
     
     
(1
)    
 
Clinics in operation at the end of the period    
51
     
48
     
51
     
48
 
                                 
Total clinics in operation at the end of the period    
468
     
413
     
468
     
413
 
                                 
Clinic licenses sold but not yet developed    
176
     
117
     
176
     
117
 
Executed letters of intent for future clinic licenses    
28
     
9
     
28
     
9
 
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]
    Three Months Ended   Six Months Ended
    June 30,   June 30,
    2019   2018   2019   2018
        (as adjusted)       (as adjusted)
Net Income (loss)   $
462,260
    $
(50,838
)   $
1,414,905
    $
(82,453
)
                                 
Weighted average common shares outstanding - basic    
13,797,497
     
13,622,710
     
13,774,474
     
13,605,370
 
Effect of dilutive securities:                                
Unvested restricted stock and stock options    
679,510
     
     
615,845
     
 
Weighted average common shares outstanding - diluted    
14,477,007
     
13,622,710
     
14,390,320
     
13,605,370
 
                                 
Basic earnings (loss) per share   $
0.03
    $
    $
0.10
    $
(0.01
)
Diluted earnings (loss) per share   $
0.03
    $
    $
0.10
    $
(0.01
)
    Three Months Ended   Six Months Ended
    June 30,   June 30,
Weighted average potentially dilutive securities:   2019   2018   2019   2018
Unvested restricted stock                
2,569
       
Stock options                
41,035