Quarterly report pursuant to Section 13 or 15(d)

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

v3.19.3
Note 1 - Nature of Operations and Summary of Significant Accounting Policies (Tables)
 9 Months Ended
Sep. 30, 2019
Notes Tables  
Schedule of Error Corrections and Prior Period Adjustments [Table Text Block]
    Three Months Ended   Adjustments Due To   Three Months Ended
    September 30, 2018   VIE Consolidation   September 30, 2018
    (as reported)       (as adjusted)
Revenues:                        
Revenues from company-owned or managed clinics   $
3,674,704
      
1,179,137
     $
4,853,841
  
Total revenues    
8,062,550
      
1,179,137
      
9,241,687
  
General and administrative expenses    
5,242,026
      
1,234,877
      
6,476,903
  
Total selling, general and administrative expenses    
6,825,890
      
1,234,877
      
8,060,767
  
Loss from operations    
(191,302
 )    
(55,740
 )    
(247,042
 )
                         
Loss before income tax benefit (expense)    
(201,974
 )    
(55,740
 )    
(257,714
 )
                         
Net loss and comprehensive loss   $
(151,803
 )    
(55,740
 )   $
(207,543
 )
                         
Loss per share:                        
Basic and diluted loss per share   $
(0.01
 )    
(0.01
 )   $
(0.02
 )
                         
Basic and diluted weighted average shares    
13,727,712
      
-
      
13,727,712
  
    Nine Months Ended   Adjustments Due To   Nine Months Ended
    September 30, 2018   VIE Consolidation   September 30, 2018
    (as reported)       (as adjusted)
Revenues:                        
Revenues from company-owned or managed clinics   $
10,352,013
      
3,976,139
     $
14,328,152
  
Total revenues    
22,717,298
      
3,976,139
      
26,693,437
  
General and administrative expenses    
14,973,261
      
3,639,840
      
18,613,101
  
Total selling, general and administrative expenses    
19,745,484
      
3,639,840
      
23,385,324
  
Loss from operations    
(731,743
 )    
336,299
      
(395,444
 )
                         
Other income (expense):                        
Bargain purchase gain    
75,264
      
(44,809
 )    
30,455
  
Total other income (expense)    
42,682
      
(44,809
 )    
(2,127
 )
                         
Loss before income tax benefit (expense)    
(689,061
 )    
291,490
      
(397,571
 )
                         
Net loss and comprehensive loss   $
(581,486
 )    
291,490
     $
(289,996
 )
                         
Loss per share:                        
Basic and diluted loss per share   $
(0.04
 )    
0.02
     $
(0.02
 )
                         
Basic and diluted weighted average shares    
13,646,599
      
-
      
13,646,599
  
    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
)
    
(1,633,543
 )    
(37,384,451
)
Total The Joint Corp. stockholders' equity    
2,361,244
 
    
(1,633,543
 )    
727,701
 
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   Nine Months Ended
    September 30,   September 30,
Franchised clinics:   2019   2018   2019   2018
Clinics open at beginning of period    
417
      
365
      
394
      
352
  
Opened during the period    
21
      
10
      
47
      
25
  
Sold during the period    
(6
 )    
-
      
(7
 )    
(1
 )
Closed during the period    
(2
 )    
(1
 )    
(4
 )    
(2
 )
Clinics in operation at the end of the period    
430
      
374
      
430
      
374
  
    Three Months Ended   Nine Months Ended
    September 30,   September 30,
Company-owned or managed clinics:   2019   2018   2019   2018
Clinics open at beginning of period    
51
      
48
      
48
      
47
  
Opened during the period    
1
      
-
      
4
      
-
  
Acquired during the period    
6
      
-
      
7
      
1
  
Closed during the period    
-
      
-
      
(1
 )    
-
  
Clinics in operation at the end of the period    
58
      
48
      
58
      
48
  
                                 
Total clinics in operation at the end of the period    
488
      
422
      
488
      
422
  
                                 
Clinic licenses sold but not yet developed    
179
      
126
      
179
      
126
  
Executed letters of intent for future clinic licenses    
29
      
12
      
29
      
12
  
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]
    Three Months Ended   Nine Months Ended
    September 30,   September 30,
    2019   2018   2019   2018
        (as adjusted)       (as adjusted)
Net Income (loss)   $
616,980
     $
(207,543
 )   $
2,031,887
     $
(289,996
 )
                                 
Weighted average common shares outstanding - basic    
13,846,045
      
13,727,712
      
13,798,593
      
13,646,599
  
Effect of dilutive securities:                                
Unvested restricted stock and stock options    
680,493
      
-
      
643,610
      
-
  
Weighted average common shares outstanding - diluted    
14,526,538
      
13,727,712
      
14,442,203
      
13,646,599
  
                                 
Basic earnings (loss) per share   $
0.04
     $
(0.02
 )   $
0.15
     $
(0.02
 )
Diluted earnings (loss) per share   $
0.04
     $
(0.02
 )   $
0.14
     $
(0.02
 )
    Three Months Ended   Nine Months Ended
    September 30,   September 30,
Weighted average potentially dilutive securities:   2019   2018   2019   2018
Unvested restricted stock    
-
      
-
      
-
      
-
  
Stock options    
2,815
      
-
      
49,367
      
-