U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM l0-QSB

        [X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
                              EXCHANGE ACT OF 1934

                For the Quarterly Period Ended September 30, 2000
                                       OR
        [ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
                              EXCHANGE ACT OF 1934

            For the Transition Period From ___________ to___________

                         Commission File Number 0- 18974

                         Jordan American Holdings, Inc.
                         ------------------------------
             (Exact name of registrant as specified in its charter)

             Florida                                            65-0142815
             -------                                            ----------
  (State or other jurisdiction                               (I.R.S. Employer
of incorporation or organization)                         Identification Number)

            2155 Resort Drive, Suite 108, Steamboat Springs, CO 80487
            ---------------------------------------------------------
                    (Address of principal executive offices)

                                 (970) 879-1189
                         (Registrant's telephone number)

          1875 Ski Time Square, Suite One, Steamboat Springs, CO 80487
          ------------------------------------------------------------
                                (Former address)

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  registrant  was
required to file such reports),  and (2) has been subject to filing requirements
for the past 90 days. Yes [X]  No [ ]

As of September 30, 2000,  10,421,266  shares of the  registrant's  common stock
were issued and outstanding.

<PAGE>

                         JORDAN AMERICAN HOLDINGS, INC.
                                AND SUBSIDIARIES

                                TABLE OF CONTENTS
PART I

ITEM 1 FINANCIAL INFORMATION                                                PAGE

          Consolidated Balance Sheets.....................................     3

          Consolidated Statements of Operations...........................     4

          Consolidated Statements of Cash Flows...........................     5

          Notes to Consolidated Financial Statements......................     6

ITEM 2 MANAGEMENT'S DISCUSSION AND ANALYSIS

          Results of Operations...........................................    10

          Liquidity and Capital Resources.................................    12

          Risk Factors, Trends & Uncertainties............................    12

                                       2
<PAGE>

                         JORDAN AMERICAN HOLDINGS, INC.
                                AND SUBSIDIARIES
                           CONSOLIDATED BALANCE SHEETS
                                   (Unaudited)

                                                     SEPTEMBER 30,  DECEMBER 31,
A S S E T S                                               2000          1999
                                                      -----------   -----------
CURRENT ASSETS
  Cash & cash equivalents                             $   870,655   $   580,758
  Marketable securities                                 1,216,268       607,882
  Investment advisory fee receivable - net                563,010       846,907
  Deposit with clearing broker                             25,000        25,000
  Notes receivable - officer                               56,044        26,556
  Prepaid expenses                                         92,176        50,678
  Other receivable                                         51,642       108,625
                                                      -----------   -----------
       Total current assets                             2,874,795     2,246,406
                                                      -----------   -----------
FIXED ASSETS
   Property and equipment, at cost, net of
       accumulated depreciation and amortization
       of $158,811 and $133,005 respectively               82,497        88,228
                                                      -----------   -----------
OTHER ASSETS
  Notes receivable                                        650,000       500,000
  Strategic Options Limited Partnership                        --        27,058
                                                      -----------   -----------
       Total other assets                                 650,000       527,058
                                                      -----------   -----------

TOTAL ASSETS                                          $ 3,607,292   $ 2,861,692
                                                      ===========   ===========
LIABILITIES & STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
  Accounts payable and accrued expenses               $   385,273   $   329,265
  Deferred revenue                                         48,079        35,300
  Software license payable                                 36,799        58,721
                                                      -----------   -----------
       Total current liabilities                          470,151       423,286
                                                      -----------   -----------
STOCKHOLDERS' EQUITY
  8% cumulative, convertible, non-voting preferred
     stock $0.01 par value, $1.00 liquidation
     value; authorized 5,000,000 shares 3,000,000
     shares issued and outstanding                         30,000        30,000
  Common Stock, $0.001 par value; authorized
     20,000,000 shares; 10,421,266 shares issued
     and outstanding at September 30, 2000 and
     December 31, 1999                                     10,421        10,421
  Additional paid in capital                            4,502,853     4,502,853
  Deficit                                              (1,406,133)   (2,104,868)
                                                      -----------   -----------
       Total stockholders' equity                       3,137,141     2,438,406
                                                      -----------   -----------

TOTAL LIABILITIES & STOCKHOLDERS' EQUITY              $ 3,607,292   $ 2,861,692
                                                      ===========   ===========

           See accompanying notes to consolidated financial statements

                                       3
<PAGE>

                         JORDAN AMERICAN HOLDINGS, INC.
                                AND SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                            FOR THE                          FOR THE
                                                      THREE MONTHS ENDED                NINE MONTHS ENDED
                                                         SEPTEMBER 30,                     SEPTEMBER 30,
                                                 -----------------------------     -----------------------------
                                                     2000             1999             2000             1999
                                                 ------------     ------------     ------------     ------------
REVENUES
<S>                                              <C>              <C>              <C>              <C>
  Commission income                              $     38,637     $     42,072     $    179,882     $    218,563
  Investment advisory fees                            896,117          400,702        2,525,212          904,077
  Realized (loss) from trading                             --           (3,215)          (5,322)            (883)
                                                 ------------     ------------     ------------     ------------
       Total Revenues                                 934,754          439,559        2,699,772        1,121,757

SELLING, GENERAL AND ADMINISTRATIVE EXPENSES          697,081          353,783        1,777,608        1,049,603
                                                 ------------     ------------     ------------     ------------

       Operating income                               237,673           85,776          922,164           72,154
                                                 ------------     ------------     ------------     ------------

OTHER INCOME (EXPENSES):
  Interest and dividend income                         40,739           21,252          111,171           72,119
  Other income                                          3,928           11,233           12,926           46,048
  Unrealized gain (loss) from trading                 (57,274)          31,238         (308,376)          65,993
                                                 ------------     ------------     ------------     ------------
      Total Other Income (Expense), net               (12,607)          63,723         (184,279)         184,160
                                                 ------------     ------------     ------------     ------------

NET INCOME BEFORE INCOME TAXES                        225,066          149,499          737,885          256,314
   Provision for income taxes                          25,185               --           39,153
                                                 ------------     ------------     ------------     ------------
NET INCOME                                            199,881          149,499          698,732          256,314
                                                 ============     ============     ============     ============

Basic earnings attributable to common stock
  per common share                               $       0.01     $       0.01     $       0.05     $       0.01
                                                 ============     ============     ============     ============

Diluted earnings attributable to common stock
  per common share                               $       0.01     $       0.01     $       0.05     $       0.01
                                                 ============     ============     ============     ============

Weighted-average number of common shares
outstanding:
     Basic                                         10,421,266       10,421,266       10,421,266       10,421,266
                                                 ============     ============     ============     ============

     Diluted                                       10,421,266       10,421,266       10,421,266       10,421,266
                                                 ============     ============     ============     ============
</TABLE>

           See accompanying notes to consolidated financial statements

                                       4
<PAGE>

                         JORDAN AMERICAN HOLDINGS, INC.
                                AND SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                              FOR THE NINE MONTHS ENDED
                                                                    SEPTEMBER 30,
                                                                2000             1999
                                                            ------------     ------------
CASH FLOWS FROM OPERATING ACTIVITIES:
<S>                                                         <C>              <C>
Net income                                                  $    698,732     $    256,314

Adjustments to reconcile net income to net cash
provided by operating activities:
     Depreciation                                                 25,806           17,598
     Unrealized (gain) loss from trading                         308,376          (65,993)
     Realized (gain) loss from trading                             5,322              883
     Changes in operating assets and liabilities:
          Trading marketable securities                         (895,026)         106,898
          Investment advisory fee receivable - net               283,897         (151,237)
          Prepaid expenses                                       (41,497)         (27,921)
          Other receivable                                        56,985           58,203
          Notes receivable - officers                            (29,488)         (11,049)
          Accounts payable and accrued expenses                   56,008          (10,083)
          Deferred revenue                                        12,779            7,019
          Software license payable                               (21,922)          49,803
                                                            ------------     ------------

               Net cash provided by operating activities         459,972          230,435
                                                            ------------     ------------

CASH FLOWS FROM INVESTING ACTIVITIES:
Investment in corporate stock - restricted                            --          (56,250)
Investment in Senior Yellow Pages, Inc.                         (150,000)              --
Sale of IMPACT Management Growth Portfolio                            --           57,092
Capital expenditures                                             (20,075)         (70,218)
                                                            ------------     ------------

               Net cash used in investing activities            (170,075)         (69,376)

               Net increase in cash and cash equivalents         289,897          161,059

Cash and cash equivalents, beginning of period                   580,758          495,622
                                                            ------------     ------------

CASH AND CASH EQUIVALENTS, END OF PERIOD                    $    870,655     $    656,681
                                                            ============     ============

Supplemental disclosure of cash flow information:
     Interest paid                                          $      2,927     $      4,597
                                                            ============     ============
</TABLE>

           See accompanying notes to consolidated financial statements

                                       5
<PAGE>

                         JORDAN AMERICAN HOLDINGS, INC.
                                AND SUBSIDIARIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTE 1 - ORGANIZATION

Organization
------------

Jordan American Holdings, Inc. (JAHI/the Company) was incorporated in Florida in
May 1989.  The  Company  also  does  business  under  the name of Equity  Assets
Management  (EAM).  The  Company  provides  investment  advisory  and  portfolio
management services to individual investors, pooled accounts and its mutual fund
with  its  customers  located  substantially  in  the  United  States.  JAHI  is
registered as an investment advisor under the Investment Advisor Act of 1940.

The  Company  owns 100% of the issued  and  outstanding  common  stock of IMPACT
Financial Network, Inc. (IFNI) and IMPACT Administrative  Services, Inc. (IASI).
IASI  provides  operational  and  administrative  support  to Impact  Management
Investment  Trust (see Note 2).  JAHI's  customer  investment  transactions  are
primarily brokered through IFNI, a registered broker-dealer in securities acting
as a non-clearing introducing broker.

The accompanying  consolidated financial statements include the accounts of JAHI
and its  subsidiaries;  all  significant  intercompany  transactions  have  been
eliminated  during  consolidation.  In the  opinion of  management,  the interim
financial  statements  contain all  adjustments  necessary to present fairly the
financial position of the Company.

NOTE 2 - IMPACT MANAGEMENT INVESTMENT TRUST

The Company  formed Impact  Management  Investment  Trust (the Trust),  which is
registered under the Investment  Company Act of 1940 as a diversified,  open-end
management  investment  company  (mutual  fund).  Impact Total Return  Portfolio
(Portfolio) is the initial Series of the Trust.  JAHI is the investment  advisor
of the Trust and IFNI is the Portfolio primary distributor of the Trust.

As  investment  advisor  of  the  Portfolio,  the  Company  receives  an  annual
investment  advisory  fee equal to 1.25% of the  Portfolio's  average  daily net
assets.  Of this  amount,  60 basis  points  is paid to the sub  advisor  of the
Portfolio.

NOTE 3 - NOTES RECEIVABLE

The Company owns a $500,000  variable rate  convertible  subordinated  debenture
from Boston  Restaurant  Associates,  Inc. (BRAI).  The principal balance of the
debenture  is due  and  payable  on  December  31,  2011.  The  debenture  has a
conversion price of $1.25 per share and bears interest at a rate of 14% for 2000
and thereafter.

In connection with the purchase of the debenture,  the Company also acquired, at
no cost,  warrants to subscribe  for the purchase  from BRAI up to 500,000 fully
paid and  nonassessable  shares of BRAI's  common  stock.  The  purchase  rights
represented by the warrants are exercisable by the

                                       6
<PAGE>

                         JORDAN AMERICAN HOLDINGS, INC.
                                AND SUBSIDIARIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (CONTINUED)

NOTE 3 - NOTES RECEIVABLE (CONTINUED)

Company,  in whole or in part,  at any time through  December  31,  2006,  at an
exercise price of $3.00 per share.

The Company provided "angel" financing through a convertible subordinated bridge
note to Senior Yellow Pages,  Inc. and its affiliates  (SYP),  an internet based
eldercare infomediary. The principal balance of the note is due and payable upon
the  earlier  of (1) the  receipt by SYP or any  affiliate  of  aggregate  gross
proceeds  of at  least  $1,000,000  raised  in an  offering  (the  "First  Round
Financing") of SYP's Series A Convertible  Preferred  Stock or (2) redemption in
cash on or prior to January 30, 2001.

As an inducement to the Company providing bridge financing to SYP, SYP agreed to
issue to the  Company a 4% equity  interest  in SYP,  on a fully  diluted  basis
through future rounds of private financing.

The note bears interest at a rate of 10% per annum.

The carrying value of the above notes  receivable  approximates  the fair market
value as  estimated by  management,  after  considering  such factors as current
interest rates,  liquidity,  conversion  terms and the credit  worthiness of the
borrowers. The Company's management has estimated the value of the BRAI warrants
to be $-0-  at  September  30,  2000  and  1999.  This  determination  was  made
considering  primarily the current value of the underlying  common stock and the
current illiquidity of the warrants.

NOTE 4 - STOCKHOLDERS' EQUITY

At September  30, 2000 and December  31,  1999,  the Company had stock  warrants
outstanding  entitling the warrant holder to acquire  1,113,000 shares of common
stock with a current exercise price of $0.50 per share and a current  expiration
date of June 5, 2010.  The Company  also has  outstanding  Underwriter  Warrants
related to the initial public  offering  entitling the holder to purchase 44,545
units (five shares of common stock and five stock warrants; two warrants entitle
the  holder to  purchase  one share of common  stock for $0.60 per share) of the
Company at a price of $2.58 per unit  expiring at dates  ranging from  September
27, 2010 to January 8, 2011.

JAHI has authorized  5,000,000  shares of $0.01 par value preferred  stock.  The
Board of Directors is authorized to issue preferred stock in one or more series,
to determine the rights  thereto,  and to fix the number of shares on any series
of preferred stock and the designation of any such series.

The Company issued  3,000,000 shares of 8% cumulative,  convertible,  non-voting
preferred  stock  to a  customer  of EAM in a  private  placement  offering.  In
connection with this offering, 750,000

                                       7
<PAGE>

                         JORDAN AMERICAN HOLDINGS, INC.
                                AND SUBSIDIARIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (CONTINUED)

NOTE 4 - STOCKHOLDERS' EQUITY (CONTINUED)

Shares of common stock were given to the Company to  distribute to the preferred
shareholder by three officers of the Company for no additional consideration.

The preferred  stock is convertible at the rate of one share of common stock for
each $3.50 in face amount of the preferred stock  converted.  If at any time the
closing  bid  price of the  common  stock for the  period of thirty  consecutive
trading days exceeds $5.25 per share, then, in such event, the Company may, upon
30 days written  notice,  automatically  convert the  preferred  stock to common
stock at the rate of $3.50 in face amount of the shares converted. The preferred
stock has a  liquidation  preference  of $1.00 per share plus accrued and unpaid
dividends.  Semi-annual dividends in arrears on preferred stock at September 30,
2000 amounted to $540,000.

In connection with the preferred stock offering,  the Company obtained "key man"
life  insurance on the Company's  president,  in the amount of  $3,750,000.  The
holder of the preferred stock is the direct beneficiary and would be redeemed at
the rate of $1.25 per share, in exchange for such shares.

NOTE 5 - RELATED PARTY TRANSACTIONS

The Company has a loan to an officer bearing interest at a rate of 10% per annum
in the amount of $56,044 and $26,556 at  September  30,  2000 and  December  31,
1999, respectively.

In 1994, the Company's  president  established  the Jordan Index Fund, L.P. (the
"Fund").  The Fund  engages in the  speculative  trading of stock index  futures
contracts,  and may trade in equity  securities and stock  options.  The Fund is
administered by its general partner,  Jordan Assets, Ltd. Jordan Assets, Ltd. is
not a subsidiary  of JAHI,  although JAHI is registered as a principal of Jordan
Assets,  Ltd.  with  the  Commodity  Futures  Trading  Commission.  All  trading
decisions for the Fund are made by Jordan Assets,  Ltd.  Certain  administrative
functions  are  provided  to the Fund by JAHI in return  for the fees  earned by
Jordan Assets,  Ltd. No such fees were earned during the first three quarters of
2000 and 1999.

NOTE 6 - FINANCIAL INSTRUMENTS, OFF-BALANCE SHEET RISK,
         UNCERTAINTIES AND CONTINGENCIES

In the normal course of business,  the Company's client  activities  through its
clearing  broker  involve the  execution,  settlement,  and financing of various
client  securities  transactions.  These  activities  may expose the  Company to
off-balance   sheet  risk.  In  the  event  the  client  fails  to  satisfy  its
obligations,  the  Company  may  be  required  to  purchase  or  sell  financial
instruments  at  prevailing  market  prices  in order to  fulfill  the  client's
obligations.

                                       8
<PAGE>

                         JORDAN AMERICAN HOLDINGS, INC.
                                AND SUBSIDIARIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (CONTINUED)

NOTE 6 - FINANCIAL INSTRUMENTS, OFF-BALANCE SHEET RISK,
         UNCERTAINTIES AND CONTINGENCIES (CONTINUED)

In the Company's investment activities, the Company purchases securities for its
own account and may incur losses if the market value of the  securities  decline
subsequent to September 30, 2000.

The  Company's  revenues are  primarily  derived from a percentage of the assets
under management and performance fees based on the appreciation of those assets.
Assets  under  management  are  impacted by both the extent to which the Company
attracts new, or loses existing, clients and the appreciation or depreciation of
the U.S.  and  international  equity and fixed  income  markets.  A downturn  in
general economic  condition could cause investors to cease using the services of
the Company.

The Company's financial  instruments,  including cash, receivables and deposits,
are carried at amounts which  approximate fair value.  The Company's  marketable
securities  are carried at the  September  30, 2000 market  value.  Payables and
other liabilities are carried at amounts which approximate fair value.

The Company has a  substantial  portion of its assets on deposit  with banks and
brokers.  Assets deposited with banks and brokers are subject to credit risk. In
the  event of bank's or  broker's  insolvency,  recovery  of  Company  assets on
deposit may be limited to account  insurance or other  protection  afforded such
deposits.

In  connection  with a late 1997  examination  of the  Company,  the SEC  raised
certain issues regarding  possible  violations of the federal securities laws in
connection  with the  private  placement  of  debentures  of  Boston  Restaurant
Associates, Inc. The matter has not been resolved and to the Company's knowledge
the  investigation  is  ongoing.  Management  of the  Company  does  not  expect
resolution of this matter to have any material effect on the Company's financial
condition, results of operations or business.

These interim  period  consolidated  financial  statements,  including the notes
thereto,  are condensed and do not include all disclosures required by generally
accepted  accounting  principles.  Such interim  period  consolidated  financial
statements should be read in conjunction with the Company's audited consolidated
financial  statements that are included in the Company's 1999 Form 10-KSB, which
is  contained  in the  Company's  1999  Annual  Report  to  shareholders  and is
available  without charge upon request to JAHI Investor  Relations,  2155 Resort
Drive, Suite 108, Steamboat Springs, Colorado, 80487, (970) 879-1189; Fax: (970)
879-1272; E-mail: info@jahi.com

                                       9
<PAGE>

                                 PART 1, ITEM 2
                      MANAGEMENT'S DISCUSSION AND ANALYSIS

                         JORDAN AMERICAN HOLDINGS, INC.
                                AND SUBSIDIARIES

Safe Harbor for Forward-Looking Statements

Information found in this report contains forward-looking implications which may
differ  materially from actual results due to the success,  or lack thereof,  of
JAHI's  management  decisions,  marketing  and sales  effectiveness,  investment
decisions,   and  the  management  of  clients'  stock   portfolios  and  pooled
investments as influenced by market  conditions,  Federal  Reserve Board policy,
economic trends,  political developments,  domestic and international events and
other factors.  There can be no guarantee that any forward-looking  implications
discussed  and/or  referenced  in this report will have any impact,  positive or
negative, upon the earnings, value and/or operations of the Company.

Results of Operations

JAHI's  assets under  management  were $58.0  million as of September  30, 2000,
compared  to $53.0  million  under  management  on June 30,  2000.  The net $5.0
million  change in assets  under  management  during the quarter  resulted  from
investment  gains of $2.7  million and  positive  net client cash inflow of $2.3
million.

                      THREE MONTHS ENDED SEPTEMBER 30, 2000
                                   COMPARED TO
                      THREE MONTHS ENDED SEPTEMBER 30, 1999

The Company had a net income for the three months ended  September  30, 2000, of
$199,881 or $0.01 per common share compared to a net income of $149,499 or $0.01
per common  share for the same period in 1999.  Basic and diluted  earnings  per
common  share for the three months ended  September  30, 2000 and 1999  includes
dividends in arrears on the Company's outstanding preferred stock of $60,000 for
each period.

The increase in net income for this period compared to the same period last year
stems primarily from higher revenues from performance fee based managed accounts
during this period.

The  Company  had  operating  income  of  $237,673  for the three  months  ended
September  30,  2000  compared  to an  operating  income of $85,776 for the same
period  in  1999.  This  increase  is  primarily  due  to  total  revenue  being
significantly  higher  during this period when compared to the same quarter last
year.

                                       10
<PAGE>

For the three  months  ended  September  30,  2000,  revenues  totaled  $934,754
compared to revenues  of  $439,559  for the same period in 1999,  an increase of
approximately  113% due  primarily  to  significantly  increased  revenues  from
investment advisory fees.

Advisory fee revenue increased for the three months ended September 30, 2000, to
$896,117  compared  to  $400,702  for the same  period in 1999,  an  increase of
approximately  123% due  primarily to increased  revenues from  performance  fee
based managed accounts.

Commission  income  decreased for the three months ended  September 30, 2000, to
$38,637  compared  to  $42,072  for the same  period  in  1999,  a  decrease  of
approximately 8% due primarily to fewer securities  transactions  resulting from
the amount of  securities  being  purchased and sold in client  accounts.  These
securities  transactions  are  incidental to  management's  investment  advisory
decisions  based on  technical  and  fundamental  considerations  of  individual
securities, market conditions and other factors.

Selling, general, and administrative ("SG&A") expenses of $697,081 were incurred
during the three month period ended September 30, 2000, compared to similar SG&A
expenses of $353,783 for the same period in 1999. This increase of approximately
97% was due primarily to higher selling  expenses  during this period  resulting
from higher fees paid out to sales representatives.

Total other income (expenses) was ($12,607) for the three months ended September
30,  2000,  compared  to $63,723  for the same  period in 1999.  This change was
primarily due to unrealized equity losses in the third quarter of 2000.

                      NINE MONTHS ENDED SEPTEMBER 30, 2000
                                   COMPARED TO
                      NINE MONTHS ENDED SEPTEMBER 30, 1999

The Company had net income for the nine months  ended  September  30,  2000,  of
$698,732 or $0.05 per common  share  compared to net income of $256,314 or $0.01
per common  share for the same period in 1999.  Basic and diluted  earnings  per
common share for the nine months ended September 30, 2000 and September 30, 1999
includes  dividends in arrears of $180,000 for each period.  Total  dividends in
arrears on the Company's  outstanding  preferred  stock as of September 30, 2000
were  $540,000  including  dividends  in arrears of $360,000 as of December  31,
1999. There are currently no projected dividend payments for 2000.

The net income for this  period  compared  to the net income for the same period
last year stems primarily from  substantially  higher revenues from  performance
fee based managed accounts.

The Company had operating income of $922,164 for the nine months ended September
30, 2000 compared to an operating income of $72,154 for the same period in 1999.
This  increase is primarily  due to total  revenue  being  significantly  higher
during this period when compared to the same period last year.

For the nine months  ended  September  30,  2000,  revenues  totaled  $2,699,772
compared to revenues of  $1,121,757  for the same period in 1999, an increase of
approximately  140%.  The increase in revenue can be primarily  attributed to an
increase in advisory fees.

                                       11
<PAGE>

Revenues from advisory fees for the nine months ended September 30, 2000 totaled
$2,525,212  compared to revenues  from the same source of $904,077  for the same
period in 1999,  an increase of  approximately  179% due  primarily to increased
revenues from performance fee based managed accounts.

Revenues from commissions decreased  approximately 17% for the nine months ended
September  30, 2000  compared to the same period in 1999  primarily  due to less
trading activity.

SG&A expenses totaled $1,777,608 during the nine months ended September 30, 2000
compared to $1,049,603 in selling,  general and administrative  expenses for the
same  period  in 1999.  The net  $728,005  increase  in SG&A  expenses  resulted
primarily from higher fees paid out to sales representatives  during this period
and bonus accruals tied to investment advisory fee revenue.

Total other income (expenses) was ($184,279) for the nine months ended September
30, 2000  compared to $184,160  for the same period in 1999.  This  decrease was
primarily  due to unrealized  equity  losses of  ($308,376)  for the nine months
ended September 30, 2000 compared to unrealized  equity gains of $65,993 for the
same period last year.

Liquidity and Capital Resources

At September  30, 2000,  the Company had cash and cash  equivalents  of $870,655
versus $580,758 at December 31, 1999. This increase was due primarily to the net
income for the nine months ended September 30, 2000.

Accounts  payable and accrued  expenses  were  $385,273 at  September  30, 2000,
compared to $329,265 at December 31, 1999. The increase in accounts  payable and
accrued  expenses  is  primarily  due to higher  accruals  for  actual  expenses
incurred on fees paid out to sales  representatives,  provisions  for income tax
and bonus  accruals for the nine months  ended  September  30, 2000  compared to
those fees accrued for the year ended December 31, 1999. Accruals are based upon
expenses  incurred and/or as determined by management's best estimate based upon
the Company's annual budget.

Cash flows provided by operating  activities for the nine months ended September
30,  2000,  were  $459,972  compared to $230,435 for the same period in 1999 due
primarily to changes in net income for the nine months ended September 30, 2000.
Cash flows provided by (used in) investing  activities for the nine months ended
September 30, 2000, were ($170,075) compared to ($69,376) for the same period in
1999 due primarily to the  investment  made in Senior Yellow Pages,  Inc. in the
first quarter of 2000.

Risk Factors, Trends & Uncertainties

Total assets under management and corporate earnings may substantially  increase
or  decrease  due to (1)  stock  market  conditions,  including  the  onset of a
long-term  declining,  or bear market; (2) performance  returns as influenced by
the  Company's   investment   advisory   decisions,   operational   expense  and
effectiveness of marketing  efforts;  (3) competition  from mutual funds,  other
investment

                                       12
<PAGE>

advisory companies and insurance companies;  (4) interest rate changes and other
actions  taken by the Federal  Reserve  Board;  (5) domestic  and  international
economic and political conditions,  high inflation and/or recession;  (6) trends
in business and finance;  (7) international  events; (8) acts of terrorism;  and
(9) other factors.

The Company is  registered  with and subject to  regulation by the SEC under the
Investment  Advisers Act of 1940 and,  where  applicable,  under state  advisory
laws.  The Company is also subject to regulation by the SEC under the Investment
Company Act of 1940. The Company's  affiliate  broker-dealer  is registered as a
broker-dealer  with the SEC  under  the  Securities  Exchange  Act of 1934  (the
"Exchange  Act") and,  where  applicable,  under state  securities  laws, and is
regulated by the SEC,  state  securities  administrators  and the NASD.  IASI is
registered  as a transfer  agent under the  Exchange Act and is regulated by the
SEC.  The  privately  held  affiliate  that manages the Fund is regulated by the
Commodity Futures Trading Commission and the National Futures Association.

By law,  investment advisors and broker-dealers are fiduciaries and are required
to serve their clients' interests with undivided  loyalty.  There is a potential
conflict of interest  because of the  affiliation  between the Company and IFNI.
While the Company  believes  that its existing  relationships  are in compliance
with  applicable  law and  regulations,  because of this  potential  conflict of
interest, the SEC may closely examine these relationships.

Many aspects of the financial  services industry involve  substantial  liability
risks,  including exposure under federal and state securities laws in connection
with the distribution of securities and investment advisor activities.  Although
the Company currently  maintains errors and omission insurance policies insuring
against  this risk,  such  insurance  does not  necessarily  protect the Company
against loss in all events.

There can be no  assurance  that any changes to existing  laws,  regulations  or
rulings   promulgated  by  government  entities  having  jurisdiction  over  the
Company's investment advisory, broker-dealer, investment company and commodities
trading  business  will not have an  adverse  effect  upon the  business  of the
Company.

In  connection  with a late 1997  examination  of the  Company,  the SEC  raised
certain issues regarding  possible  violations of the federal securities laws in
connection  with the  private  placement  of  debentures  of  Boston  Restaurant
Associates, Inc. The matter has not been resolved and to the Company's knowledge
the  investigation  is ongoing.  Management  of the Company  does not expect the
resolution of this matter to have any material effect on the Company's financial
condition, results of operations or business.

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<PAGE>

                                   SIGNATURES

In accordance with the requirements of the Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.

                                        JORDAN AMERICAN HOLDINGS, INC.

Dated: November 14, 2000                By: /s/  Wallace Neal Jordan
                                            -------------------------
                                            Wallace Neal Jordan
                                            Chief Executive Officer

Dated:  November 14, 2000               By: /s/ A.J. Elko
                                            -------------
                                            A.J. Elko
                                            Chief Financial Officer