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 March 31, 1999
                                       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)


          1875 Ski Time Square, Suite One, Steamboat Springs, CO 80487
          ------------------------------------------------------------
                    (Address of principal executive offices)

                                 (970) 879-1189
                                 --------------

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 March 31, 1999,  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

             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

             Operational Notes                                                 8

             Risk Factors, Trends & Uncertainties                              9

             Results of Operations                                            10

             Liquidity and Capital Resources                                  11

<PAGE>

                                     PART I.
                                     ITEM 1.
                              FINANCIAL INFORMATION

                         JORDAN AMERICAN HOLDINGS, INC.
                                AND SUBSIDIARIES
                           Consolidated Balance Sheets

<TABLE>
<CAPTION>
                                                                         Unaudited

                                                                         MARCH 31,     DECEMBER 31,
               A S S E T S                                                 1999           1998
                                                                       -----------     -----------
CURRENT ASSETS
<S>                                                                    <C>             <C>        
  Cash & Cash Equivalents                                              $   601,903     $   495,622
  Marketable Securities                                                    127,798         163,010
  Investment Advisory Fee Receivable - Net                                 122,535          45,985
  Accounts Receivable                                                       51,548         135,253
  Notes Receivable - Officer                                                15,000          15,000
  Prepaid Expenses                                                           8,161           4,380
  Other Receivable                                                          15,000          25,205
                                                                       -----------     -----------
       Total Current Assets                                                941,945         884,455
                                                                       -----------     -----------
FIXED ASSETS
   Property and Equipment, at cost, net of accumulated depreciation
       and amortization of $91,990 and $86,163 respectively                125,026          64,853
                                                                       -----------     -----------
OTHER ASSETS
  Boston Restaurant Debentures                                             500,000         500,000
  Strategic Options Limited Partnership                                     45,736          45,736
  Corporate Stocks - Restricted                                             56,250              --
                                                                       -----------     -----------
       Total Other Assets                                                  601,986         545,736
                                                                       -----------     -----------
            TOTAL ASSETS                                               $ 1,668,957     $ 1,495,044
                                                                       ===========     ===========
LIABILITIES & STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
  Accounts Payable                                                     $    27,737     $    65,132
  Accrued Expenses                                                          94,895          98,612
  Deferred Revenue                                                          30,232          29,703
  Software License Payable                                                  88,230          15,940
                                                                       -----------     -----------
       Total Current Liabilities                                           241,094         209,387
                                                                       -----------     -----------
STOCKHOLDERS' EQUITY
  8% cumulative, convertible, non-voting preferred stock
     $0.01 par valve; 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 March 31, 1999             10,421          10,421
     and December 31, 1998
  Additional Paid in Capital                                             4,502,853       4,502,853
  Accumulated Deficit                                                   (3,115,411)     (3,257,617)
                                                                       -----------     -----------
       Total Stockholders' Equity                                        1,427,863       1,285,657
                                                                       -----------     -----------

Total Liabilities & Stockholders' Equity                               $ 1,668,957     $ 1,495,044
                                                                       ===========     ===========
</TABLE>

          See accompanying notes to consolidated financial statements

                                       3
<PAGE>

                         JORDAN AMERICAN HOLDINGS, INC.
                                AND SUBSIDIARIES
                      Consolidated Statements of Operations
                                   (Unaudited)
<TABLE>
<CAPTION>
                                                               FOR THE THREE MONTHS ENDED
                                                                        MARCH  31,
                                                              ----------------------------
                                                                  1999            1998
                                                              ------------    ------------
REVENUES
<S>                                                           <C>             <C>         
  Commission Income                                           $    128,437    $    111,620
  Investment Advisory Fees                                         270,633         170,368
                                                              ------------    ------------

       Total Revenues                                              399,070         281,988

Selling, General and Administrative Expenses                       339,125         482,423
                                                              ------------    ------------

       Operating Income (Loss)                                      59,945        (200,435)
                                                              ------------    ------------

Other Income (Expenses):
  Interest and Dividend Income                                      30,059          21,887
  Other Income                                                      30,322           4,230
  Realized Equity Gain (Loss) from investing and trading             2,332          13,726
  Unrealized Equity Gain (Loss) from investing and trading          19,548          22,074
                                                              ------------    ------------

       Total Other Income (Expense), Net                            82,261          61,917
                                                              ------------    ------------

       Net Income (Loss)                                           142,206        (138,518)

Dividends on Preferred Stock                                        60,000          60,000
                                                              ------------    ------------

     Net Income (Loss) Attributable to Common Stock           $     82,206    $   (198,518)
                                                              ============    ============

Basic earnings (loss) per common share                        $       0.01    $      (0.02)
                                                              ============    ============

Diluted earnings (loss) per common share                      $       0.01    $      (0.02)
                                                              ============    ============

Weighted-average number of common shares outstanding:

     Basic                                                      10,421,266      10,408,876
                                                              ============    ============

     Diluted                                                    10,421,266      10,408,876
                                                              ============    ============
</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 THREE MONTHS ENDED MARCH 31,
                                                               1999          1998
                                                            ---------     ---------
CASH FLOWS FROM OPERATING ACTIVITIES:
<S>                                                         <C>           <C>       
Net Income (Loss)                                           $ 142,206     $(138,518)

Adjustments to reconcile net income (loss)
  to net cash provided by operating activities:
     Depreciation                                               5,826         6,817
     Unrealized (gain) loss from investing and trading        (19,548)      (22,074)
     Realized (gain) loss from investing and trading           (2,332)      (13,726)
     Changes in operating assets and liabilities:
          Investment fees and other receivable                  7,606        90,816
          Trading marketable securities                            --       199,888
          Prepaid expenses                                     (3,782)      (14,300)
          Interest receivable                                  10,206            --
          Accounts payable and accrued expenses               (41,112)       52,749
          Deferred investment advisory fees                       529       (26,366)
          Software license payable                             72,290            --
                                                            ---------     ---------

               Net Cash Provided By Operating Activities      171,889       135,286
                                                            ---------     ---------

CASH FLOWS FROM INVESTING ACTIVITIES:
Investment in Corporate stock - restricted                    (56,250)           --
Investment in Partnership                                          --       (50,000)
Principal received on Notes Receivable                             --         3,000
Accrued Interest on Notes Receivable                             (450)           --
Sale of IMPACT Management Growth Portfolio                     57,092            --
Capital expenditures                                          (66,000)      (17,697)
                                                            ---------     ---------

               Net Cash Used in Investing Activities          (65,608)      (64,697)
                                                            ---------     ---------

               Net Increase in Cash and Cash Equivalents      106,281        70,589

Cash and cash equivalents, beginning of period                495,622        51,286
                                                            ---------     ---------

Cash and Cash Equivalents, end of period                    $ 601,903     $ 121,875
                                                            =========     =========

Supplemental Disclosure of Cash Flow Information
     Interest Paid                                          $   1,666     $   3,170
                                                            =========     =========
</TABLE>

           See accompanying notes to consolidated financial statements

                                       5
<PAGE>

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)
------------------------------------------------------
In the opinion of  management,  the  interim  financial  statements  contain all
adjustments,  consisting  only of normal  recurring  adjustments,  necessary  to
present  fairly  the  financial  position  of  Jordan  American  Holdings,  Inc.
("Company" or "JAHI") and its subsidiaries as of March 31, 1999, and the results
of its interim  operations  and cash flows for the three  months ended March 31,
1999, and 1998, in accordance with generally accepted accounting principles. The
results for interim periods are not necessarily indicative of results for a full
year. (Please see "Management's Discussion and Analysis" below.)

Percentage of assets  investment  advisory fees, for which refunds may be due to
clients,  are billed in advance and are deferred and amortized  into income over
the period in which services are performed.  Investment advisory fees based on a
percentage  of the annual  increase  (performance,  or  incentive,  fees) in the
market value of a client's  portfolio,  including  interest and  dividends,  are
fully  recognized  when billed after the period of management,  which is usually
twelve months after account inception and annually thereafter.  JAHI also serves
as an investment  advisor to the Impact Total Return  Portfolio f/k/a the Impact
Management  Growth  Portfolio,  ("Portfolio")  an  open-end  investment  company
registered with the Securities and Exchange  Commission.  Fees for management of
the  portfolio  are  earned  daily  and  paid to JAHI on a  monthly  basis.  Fee
compensation  which is due sales  representatives is accrued monthly and is paid
to sales  representatives  quarterly.  Effective May 1, 1999 the Company entered
into  a  sub-advisory  agreement  with  Schneider  Capital  Management  for  the
Portfolio.  Pursuant to the sub-advisory  agreement,  the Company pays Schneider
monthly  at the rate of 60 basis  points  (0.60%)  annually,  from its 125 basis
points,  (1.25%) annual  management fee which is calculated on the average daily
net assets of the Portfolio.

Asset management contracts are generally terminable upon written notice from the
client(s) or the Company,  and the unearned  percentage of asset management fees
billed in advance are refundable on a pro-rata basis. For additional information
regarding the Company's  advisory  business  operations and policies,  a copy of
disclosure  document Form ADV, Part II is available  without charge upon written
request to the Company.

The Company  develops  prospective  investment  advisory  clients and  investors
through strategic  marketing  partnerships,  seminars,  money shows,  occasional
television and radio appearances,  direct contact, its web site (www.jahi.com or
www.equityassets.com), sales representatives, referrals from clients, securities
broker-dealers and other sources. Prospective advisory clients receive Form ADV,
Part II, as the  Company's  disclosure  document and provide  information  about
themselves, their investment experience, and their net worth through various new
account forms and other methods.

Approximately  90% of JAHI's  clients  execute  brokerage  transactions  through
IMPACT Financial Network, Inc. ("IFNI"), a wholly-owned broker-dealer subsidiary
of JAHI and a member of the National  Association  of Securities  Dealers,  Inc.
("NASD") and the Securities Investor Protection  Corporation  ("SIPC").  IFNI is
compensated  for  securities  transactions  on behalf of the  Company's  managed
accounts by receipt of  commissions.  IFNI does not hold funds or securities for
clients and does not have custody of accounts  for clients of the Company.  IFNI
currently executes securities transactions through Pershing & Co., a division of
Donaldson,  Lufkin, & Jenrette, a securities corporation.  Pershing, a member of
the SIPC, acts as clearing house and custodian for accounts and

                                       6
<PAGE>

processes all confirmations and monthly statements for JAHI advisory clients who
choose to maintain their accounts with IFNI.  Commission income is recognized on
a settlement  date basis,  which does not differ  materially from the trade date
basis of accounting.

Effective  May 1, 1999,  the  Company's  other wholly owned  subsidiary,  IMPACT
Administrative  Services,  Inc., ("IASI") an investment company services entity,
receives 35 basis points annually,  (0.35%) as an administrative  fee, replacing
the $165  per  account  annual  administrative  fee  prevoiusly  charged  to the
shareholders  of the  Portfolio.  To date,  IASI  provides  its  services to the
Portfolio only.

Marketable securities consist primarily of corporate stocks and other securities
held in Company  investment  accounts.  Realized and unrealized  gains or losses
result from the trading of securities in Company investment accounts.

Basic and diluted  earnings per share and share  equivalents  are based upon the
weighted average number of share and/or share equivalents outstanding during the
period.  The  calculations  ignore  common  stock  equivalent  shares when their
inclusion in such calculations would have been anti-dilutive.

In the third quarter of 1994,  Wallace Neal Jordan  established  Jordan  Assets,
Ltd. For providing administrative services, the Company receives 100% of the net
income  resulting from the collection of incentive  and/or  management  fees, if
any, collected by Jordan Assets,  Ltd., a privately held affiliate which manages
the Jordan Index Fund, L.P., (the "Index"), a limited partnership with March 31,
1999,  assets of  approximately  $3.1 million.  The Index invests in stock index
futures  contracts  and  other  securities  and  receives  as its fee 20% of the
Index's  trading  profits,  if any.  Fees for this  Index are  accounted  for as
deferred revenue until the annual billing date of the Index, which is July 31 of
each  year.  Fees to JAHI from the Index were  approximately  $90,000 in 1995 as
compared  to no  revenues  from the Index in 1996,  1997 and  1998.  There is no
assurance  that the Index will continue to exist as a potential  revenue  source
for the Company.

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 which are included in the Company's 1998 Form 10-KSB which
is  contained  in the  Company's  1998  Annual  Report  to  shareholders  and is
available without charge upon request to JAHI Investor Relations,  1875 Ski Time
Square,  Suite One, Steamboat  Springs,  Colorado,  80487, (970) 879-1189;  Fax:
(970) 879-1272; E-mail: info@jahi.com

                                       7
<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.

Operational Notes

Asset gathering is primarily being pursued through selling agreements with other
broker-dealers  and  various  strategic  marketing  partnerships,   as  well  as
seminars,  national investment shows,  advertising,  marketing materials,  joint
ventures with other financial services professionals and other means.

The Company managed  approximately  $40 million in individually  held fee-paying
equity portfolios at March 31, 1999. The Company serves as investment advisor to
the Impact Total Return Portfolio f/k/a the Impact  Management  Growth Portfolio
("Portfolio"),  an open-end  investment  company formed under Impact  Management
Investment Trust. Effective May 1, 1999, the Company entered into a sub-advisory
agreement with Schneider Capital Management for the Portfolio. Management of the
Company expects that this  sub-advisory  agreement may enhance the prospects for
increased sales of Portfolio shares.

At March 31, 1999, the Portfolio had assets of  approximately  $8.4 million from
which  JAHI  and  IFNI  receives  management  fees  and  brokerage   commissions
respectively.  At March 31,  1999,  the Company and a privately  held  affiliate
provided  investment advice to approximately $51 million in fee-paying assets in
individually managed equity portfolios,  the Portfolio and the Index,  mentioned
above.

Percentage of assets  investment  advisory fees, for which refunds may be due to
clients,  are billed in advance and are deferred and amortized  into income over
the  period  in  which  services  are  performed.   Exceptional  performance  in
percentage of profit (incentive) accounts may result in substantial revenues for
the Company  while poor  performance  in the same accounts may yield no fees for
the  Company  from  approximately  70%  of  the  Company's  total  assets  under
management. Additionally, because percentage of profit accounts are billed on an
annual  basis in arrears  for each  respective  client,  there may be a delay in
billing  revenue  as long as eleven  months  from the time when  actual  account
performance was achieved.  Thus, exceptional performance in percentage of profit
accounts  may benefit the revenues of the Company for nearly one year after such
performance 

                                       8
<PAGE>

was achieved as dependent on the billing cycle of  respective  clients and other
investment results in the respective accounts.

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 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  securities  and  commodities  industries  are subject to various  risks and
intense regulation from the SEC, the NASD, the National Futures Association, and
the Commodity Futures Trading Commission.  Investment advisors,  broker-dealers,
commodity pool operators, and commodity trading advisors are highly regulated by
both federal and state authorities and by other  self-regulatory  organizations.
Such  regulations  may  restrict  both the types of  investments  and  amount of
investments  that JAHI may employ for its  clients  and  itself.  The NASD,  for
instance,   has  strict   requirements   for  the  maintenance  of  net  capital
requirements by broker-dealers  such as IFNI. 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-related and commodities trading business will
not have an adverse  effect upon the business of the Company,  or that,  despite
its best efforts,  the Company  currently  operates in full  compliance with all
applicable law and  regulations or will be able to remain in compliance with all
applicable law and regulations. If the Company fails to maintain compliance with
all  applicable  regulations,  JAHI  and/or its  subsidiaries  may be subject to
various and significant fines, censures and other considerations and penalties.

By law,  investment  advisors,  broker-dealers,  and  investment  companies  are
fiduciaries  and are required to serve their  clients'  interests with undivided
loyalty.  The  affiliation  between  the  Company  and IFNI may  continue  to be
scrutinized by the regulatory  authorities  because of the potential conflict of
interest  created by  related-party  transactions  and may be subject to various
regulations which may affect the fees and charges of IFNI. Additionally,  as the
brokerage industry continues to become more competitive,  fees for such services
may  decline  which  result in a similar  reduction  in  revenues  from  trading
transactions.

Findings contrary to industry regulations by one or more regulatory entities may
subject the Company to censures,  fines and/or other  liabilities,  or cause the
Company to change its method of doing  business.  The SEC requires that business
be conducted in the best interests of the clients and that such  arrangements be
disclosed  to them.  While the  Company  believes  that its  existing  policies,
procedures and proposed relationships are in compliance with applicable laws and
regulations,  findings to the contrary may have a material  adverse  effect upon
the Company.

Many aspects of the financial  services industry involve  substantial  liability
risks,  including but not limited to exposure under federal and state securities
laws in connection with the distribution of 

                                       9
<PAGE>

securities,   brokerage   transactions,   suitability  and  investment   advisor
activities.  Although  the  Company  currently  maintains  errors  and  omission
insurance and other  insurance to protect  against  these types of  liabilities,
there can be no  guarantee  that this  coverage  will  necessarily  protect  the
Company and its shareholders from potential claims.

The Company  operates in a highly  competitive  industry with  competition  from
other investment  advisors,  commodity  trading  advisors,  broker-dealers,  and
mutual fund managers in addition to investment alternatives offered by insurance
companies,  banks, securities dealers and other financial institutions.  Many of
these  institutions  are able to engage in more  extensive  advertising  and may
offer  accounts  insured by federal  corporations  such as the  Federal  Deposit
Insurance  Corporation.  JAHI believes its  investment  strategy,  which centers
around  attempting to understand  the general trend of the market as assisted by
certain proprietary  analyses,  coupled with its long-term track record, make it
an attractive alternative to traditional mutual funds and other money managers.

Long-term  trends in retention of client assets since fiscal  year-end 1995 show
that the  Company  has had a net loss in assets  under  management,  i.e.,  more
assets in client accounts have departed from the Company's  management than were
brought in as new managed  assets.  This  declining  trend in total assets under
management  may  continue to have a direct  negative  impact upon the  Company's
investment  advisory  revenues and related brokerage  commissions.  It is likely
that future net income/loss of the Company will be substantially impacted by the
amount of assets under management,  investment  management decisions and general
stock market conditions, among other factors listed in this report.

The SEC conducted an examination of the Company in November 1997. As a result of
this  examination,  certain  issues arose  regarding  possible  violation of the
Securities Act of 1933,  the Securities  Exchange Act of 1934 and the Investment
Advisors Act of 1940 relating to the contingent "best efforts" private placement
debenture offering for Boston Restaurants Associates, Inc. The SEC has initiated
discussions with the Company's legal counsel with regard to these issues and may
be considering  formal action against the Company.  Legal counsel to the Company
filed a "Wells  Submission"  with the SEC on June 1, 1998.  Management and legal
counsel of the Company  cannot,  at this time,  predict with any  certainty  the
outcome of the SEC's  examination or whether the resolution will have a material
effect on JAHI's operations or financial statements.

Other than the foregoing, the Company is not a party in any material litigation,
and management has no knowledge of any threatened  material  litigation  against
the Company.

Results of Operations

The  Company  had net income  for the three  months  ended  March 31,  1999,  of
$142,206  compared to a net loss of ($138,518) for the same period in 1998. This
net  income  compared  to a net loss for the same  period  last year  stems from
higher revenues from performance fee based managed accounts, increased fees from
the  Portfolio,  and a decrease  in  operational  expenses.  The Company had net
income attributable to common stock for the three months ended March 31, 1999 of
$82,206 or $0.01 per common share compared to a net loss  attributable to common
stock of ($198,518) or ($0.02) per common share for the same period in 1998.

                                       10
<PAGE>

From  February,  1993 until June 30 of 1998, the Company made  semi-annual  cash
dividend payments on its cumulative  convertible non-voting preferred stock at a
rate of 8% per annum, to the extent  permitted by Florida law. Total payments in
1998 were  $120,000,  and there are currently no projected  annual  payments for
1999.  Nonetheless,  net  income  attributable  to common  stock for the  period
reflects the unpaid dividends on the cumulative  preferred  stock.  Dividends in
arrears as of December 31, 1998 were $120,000.

For the three months ended March 31, 1999, revenues totaled $399,070 compared to
revenues of $281,988 for the same period in 1998,  an increase of  approximately
42% due primarily to significantly increased revenues from performance fee based
managed accounts combined with increased commission income and Portfolio fees.

Commission  income  increased  for the three  months  ended March 31,  1999,  to
$128,437  compared  to  $111,620  for the same  period in 1998,  an  increase of
approximately 15% due to more securities  transactions resulting from the amount
of  securities  being  purchased  and sold in client  accounts as  incidental to
management's  investment  advisory  decisions based on technical and fundamental
considerations of individual securities, market conditions and other factors.

Total  other  income was  $82,261 for the three  months  ended  March 31,  1999,
compared to $61,917 for the same period in 1998. This increase was primarily due
to an increase in Interest and Dividend Income and a one-time  reimbursement  of
legal fees expensed in the previous year.

Selling, General, and Administrative ("SG&A") expenses of $339,125 were incurred
during the three month  period  ended March 31,  1999,  compared to similar SG&A
expenses of $482,423  for the same period in 1998,  a decrease of  approximately
30% due primarily to lower selling and marketing expenses.

Liquidity and Capital Resources

At March 31, 1999, the Company had cash and cash  equivalents of $601,903 versus
$495,622 at December 31, 1998. This increase was due primarily to the net income
for the three months ended March 31, 1999.

Accounts payable and accrued  expenses were $27,737 and $94,895  respectively at
March 31,  1999,  compared to $65,132 and $98,612  respectively  at December 31,
1998.  These reductions are due to reduced  expenses,  both actual and budgeted,
which affected accruals along with payment of outstanding payables. 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 three months ended March 31,
1999,  were  $171,889  compared  to  $135,286  for the same  period  in 1998 due
primarily  to changes in net income for the three month  ended  March 31,  1999.
Cash flows used in  investing  activities  for the three  months ended March 31,
1999, were ($65,608) compared to ($64,697) for the same period in 1998.

During the three month period ended March 31, 1999 the Company  acquired  45,000
shares  of  restricted  stock  through  a private  placement  from The  Internet
Advisory  Corporation at $1.25 per share.  This investment is restricted and may
not be sold until March, 2000. The market value of

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<PAGE>

The Internet  Advisory  Corporation's  common stock was $9.68 per share at March
31,  1999.  The Company  sold its shares in the  Portfolio in order to make this
investment.

The Company  entered into a lease purchase  agreement that enlarged its software
system to include the NSCC  Fund/Serv and the NSCC  Networking  Systems that may
increase its ability to distribute the shares of the  Portfolio.  This agreement
can be terminated  upon 90 days written  notice to the software  provider,  thus
limiting the Company's financial obligation to no more than 90 days forward.

Management of the Company believes  short-term cash need will continue to be met
through management fees, brokerage revenues, cash reserves and/or liquidation of
marketable securities.

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                                   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: May 14, 1999                     By: /s/  Charles R. Clark
                                            --------------------------
                                            Charles R. Clark
                                            Chief Executive Officer