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 June 30, 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 June 30, 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                                                                      PAGE
                                                                            ----

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

                                       2
<PAGE>

                                PART 1., ITEM 1.
                              FINANCIAL INFORMATION
                         JORDAN AMERICAN HOLDINGS, INC.
                                AND SUBSIDIARIES
                           CONSOLIDATED BALANCE SHEETS

<TABLE>
<CAPTION>
                                                              JUNE 30,      DECEMBER 31,
ASSETS                                                          1999            1998
                                                            -----------     -----------
CURRENT ASSETS
<S>                                                         <C>             <C>
  Cash & Cash Equivalents                                   $   474,816     $   495,622
  Marketable Securities                                         151,040         163,010
  Investment Advisory Fee Receivable - Net                      111,646          45,985
  Accounts Receivable                                            90,117         135,253
  Notes Receivable - Officer                                     15,675          15,000
  Prepaid Expenses                                               65,469           4,380
  Other Receivable                                               29,753          25,205
                                                            -----------     -----------
       Total Current Assets                                     938,516         884,455
                                                            -----------     -----------
FIXED ASSETS
   Property and Equipment, at cost, net of accumulated
       depreciation and amortization of $97,841 and
       $86,163 respectively                                     120,191          64,853
                                                            -----------     -----------
OTHER ASSETS
  Boston Restaurant Debentures                                  500,000         500,000
  Strategic Options Limited Partnership                          37,701          45,736
  Corporate Stocks - Restricted                                  56,250              --
                                                            -----------     -----------
       Total Other Assets                                       593,951         545,736
                                                            -----------     -----------
            TOTAL ASSETS                                    $ 1,652,658     $ 1,495,044
                                                            ===========     ===========
LIABILITIES & STOCKHOLDERS EQUITY
CURRENT LIABILITIES
  Accounts Payable                                          $    44,153     $    65,132
  Accrued Expenses                                              121,925          98,612
  Deferred Revenue                                               21,481          29,703
  Software License Payable                                       72,628          15,940
                                                            -----------     -----------
       Total Current Liabilities                                260,187         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
     June 30, 1999 and December 31, 1998                         10,421          10,421
  Additional Paid in Capital                                  4,502,863       4,502,853
  Accumulated Deficit                                        (3,150,813)     (3,257,617)
                                                            -----------     -----------
       Total Stockholders Equity                              1,392,471       1,285,657
                                                            -----------     -----------

TOTAL LIABILITIES & STOCKHOLDERS EQUITY                     $ 1,652,658     $ 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                           FOR THE
                                                                    THREE MONTHS ENDED                 SIX MONTHS ENDED
                                                                          JUNE 30,                          JUNE 30,
                                                               -----------------------------     -----------------------------
                                                                   1999             1998             1999             1998
                                                               ------------     ------------     ------------     ------------
Revenues
<S>                                                            <C>              <C>              <C>              <C>
  Commission Income                                            $     48,054     $    125,936     $    176,491     $    237,556
  Investment Advisory Fees                                          232,743          214,907          503,376          385,275
                                                               ------------     ------------     ------------     ------------

       Total Revenues                                               280,797          340,843          679,867          622,831

Selling, General and Administrative Expenses                        356,696          507,416          695,821          989,839
                                                               ------------     ------------     ------------     ------------

       Operating Income (Loss)                                      (75,899)        (166,573)         (15,954)        (367,008)
                                                               ------------     ------------     ------------     ------------
Other Income (Expenses):
  Interest and Dividend Income                                       20,808           38,965           50,867           60,852
  Other Income                                                        4,494               --           34,816            4,230
  Realized Equity Gain (Loss) from investing and trading                 --          (80,126)           2,332          (66,400)
  Unrealized Equity Gain (Loss) from investing and  trading          15,207           79,922           34,755          101,996
  Gain on disposal of building                                           --           55,256               --           55,256
                                                               ------------     ------------     ------------     ------------

       Total Other Income (Expense), Net                             40,509           94,017          122,770          155,934
                                                               ------------     ------------     ------------     ------------

       Net Income (Loss)                                       $    (35,390)    $    (72,556)    $    106,816     $   (211,074)
                                                               ============     ============     ============     ============
Basic earnings attributable to common stock
  per common share                                             $      (0.01)    $      (0.01)    $       0.00     $      (0.03)
                                                               ============     ============     ============     ============
Diluted earnings attributable to common stock
  per common share                                             $      (0.01)    $      (0.01)    $       0.00     $      (0.03)
                                                               ============     ============     ============     ============
Weighted-average number of common shares outstanding:
     Basic                                                       10,421,266       10,408,876       10,421,266       10,408,876
                                                               ============     ============     ============     ============
     Diluted                                                     10,421,266       10,408,876       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
                INCREASE (DECREASE) IN CASH AND CASH EQUIVELENTS
                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                                                  FOR SIX MONTHS ENDED JUNE 30,
                                                                       1999         1998
                                                                    ---------     ---------
CASH FLOWS FROM OPERATING ACTIVITIES:
<S>                                                                 <C>           <C>
Net Income (Loss)                                                   $ 106,816     $(211,074)
Adjustments to reconcile net income (loss) to cash provided
  by (used in) operating activities:
     Depreciation                                                      11,678        13,351
     Unrealized (gain) loss from investing and trading                (34,756)     (101,996)
     Realized (gain) loss from investing and trading                   (2,332)       66,400
     Gain on disposal of building                                          --       (55,256)
     Changes in operating assets and liabilities:
          Investment fees and other receivable                        (25,072)       11,608
          Prepaid expenses                                            (61,089)      (11,576)
          Trading marketable securities                                    --       283,850
          Interest receivable                                            (675)          164
          Accounts payable and accrued expenses                         2,333        56,949
          Deferred investment advisory fees                            (8,222)      (55,084)
          Software license payable                                     56,688        (8,614)
                                                                    ---------     ---------

            Net Cash Provided By (Used In) Operating Activities        45,369       (11,278)
                                                                    ---------     ---------
CASH FLOWS FROM INVESTING ACTIVITIES
Investment in Corporate stock - restricted                            (56,250)           --
Investment in limited partnership                                          --       (50,000)
Principal received on Notes Receivable                                     --         8,880
Proceeds from sale of building                                             --       195,483
Sale of IMPACT Management Growth Portfolio                             57,092            --
Capital expenditures                                                  (67,017)      (18,546)
                                                                    ---------     ---------

            Net Cash Provided by (Used In) Investing Activities       (66,175)      135,817
                                                                    ---------     ---------

            Net Increase (decrease) in Cash and Cash Equivalents      (20,806)      124,539
Cash and cash equivalents, beginning of period                        495,622        51,286
                                                                    ---------     ---------

Cash and Cash Equivalents, end of period                            $ 474,816     $ 175,825
                                                                    =========     =========
Supplemental Disclosure
     Interest Paid                                                  $   2,337     $   6,180
                                                                    =========     =========
</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 June 30, 1999, and the results
of its interim  operations  for the three  months and six months  ended June 30,
1999,  and 1998, and cash flows for the six months ended June 30, 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

                                       6
<PAGE>

and 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 June 30,
1999,  assets of  approximately  $3.0 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 June 30, 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 June 30, 1999,  the  Portfolio  had assets of  approximately  $8 million from
which JAHI  receives  management  fees.  At June 30,  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.  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 securities,  brokerage transactions,
suitability and investment advisor activities. Although the

                                       9
<PAGE>

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.

Results of Operations

The  Company  had a net loss for the  three  months  ended  June  30,  1999,  of
($35,390)  compared to a net loss of ($72,556) for the same period in 1998. This
net loss for this  period  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 a net loss  attributable  to common stock for the three months ended
June 30, 1999 of ($95,390)  or ($0.01) per common  share  compared to a net loss
attributable  to common stock of  ($132,556) or ($0.01) per common share for the
same period in 1998.

The Company had a net income for the six months ended June 30, 1999, of $106,816
compared  to a net loss of  ($211,074)  for the same  period  in 1998.  This net
income for this period compared to a

                                       10
<PAGE>

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 a net loss  attributable  to
common  stock for the six months ended June 30, 1999 of ($13,184) or ($0.00) per
common share compared to a net loss  attributable  to common stock of ($331,074)
or ($0.03) per common share for the same period in 1998.

Basic and diluted earnings attributable to common stock per common share for the
three  months  ended June 30,  1999 and for the six months  ended June 30,  1999
includes dividends in arrears of $60,000 and $120,000,  respectively.  Basic and
diluted  earnings  attributable  to common  stock per common share for the three
months ended June 30, 1998 and for the six months  ended June 30, 1998  includes
dividends paid of $60,000 and $120,000 respectively.  Total dividends in arrears
as of June 30, 1999 were $240,000 including  dividends in arrears of $120,000 as
of December 31, 1998. There are currently no projected annual payments for 1999.

For the three months ended June 30, 1999,  revenues totaled $280,797 compared to
revenues of $340,843  for the same period in 1998,  a decrease of  approximately
18% due primarily to significantly decreased revenues from commission income.

Commission income decreased for the three months ended June 30, 1999, to $48,054
compared to $125,936  for the same period in 1998,  a decrease of  approximately
62% due primarily to fewer 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.

Advisory  fees  income  increased  for the three  months  ended June 30, 1999 to
$232,743  compared  to  $214,907  for the same  period in 1998,  an  increase of
approximately 8% due primarily to increased  revenues from performance fee based
managed accounts and portfolio fees.

Total  other  income was  $40,509  for the three  months  ended  June 30,  1999,
compared to $94,017 for the same period in 1998. This decrease was primarily due
to the gain on the  disposal  of a building  realized  in the second  quarter of
1998.

Selling, General, and Administrative ("SG&A") expenses of $356,696 were incurred
during the three month  period  ended June 30,  1999,  compared to similar  SG&A
expenses of $507,416  for the same period in 1998,  a decrease of  approximately
30% due primarily to aggressive  reductions in selling,  marketing and operating
expenses.

For the six months ended June 30, 1999,  revenues totaled  $679,867  compared to
revenues of $622,831 for the same period in 1998,  an increase of  approximately
9%. The  increase  in revenue  can be  primarily  attributed  to an  increase in
advisory fees.

Revenues  from  advisory  fees for the six months  ended June 30,  1999  totaled
$503,376  compared  to revenues  from the same  source of $385,275  for the same
period in 1998,  an increase of  approximately  31% due  primarily  to increased
revenues from performance fee based managed accounts.

Revenues from commissions  decreased  approximately 26% for the six months ended
June 30, 1999 compared to the same period in 1998  primarily due to less trading
activity.

                                       11
<PAGE>

Total other income was $122,770 for the six months ended June 30, 1999  compared
to $155,934 for the same period in 1998.  This decrease was primarily due to the
gain realized on the disposal of a building in the second quarter of 1998.

Selling,  general and  administrative  expenses  totaled $695,821 during the six
months  ended June 30,  1999  compared  to  $989,839  in  selling,  general  and
administrative expenses for the same period in 1998, a decrease of approximately
30%, due primarily to aggressive reductions in selling,  marketing and operating
expenses.

Liquidity and Capital Resources

At June 30, 1999, the Company had cash and cash  equivalents of $474,816  versus
$495,622 at December 31, 1998. This decrease was due primarily to an increase in
prepaid insurance  expenses and the net loss for the three months ended June 30,
1999.

Accounts payable and accrued expenses were $44,153 and $121,925  respectively at
June 30,  1999,  compared to $65,132 and $98,612  respectively  at December  31,
1998. The reduction in accounts payable is 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.  The increase
in accrued  expenses is primarily  due to an accrual of $50,000 for an estimated
severance expense.

Cash flows  provided by (used in) operating  activities for the six months ended
June 30, 1999,  were $45,369  compared to ($11,278)  for the same period in 1998
due  primarily  to changes in net income for the six month ended June 30,  1999.
Cash flows  provided by (used in) investing  activities for the six months ended
June 30, 1999,  were ($66,175)  compared to $135,817 for the same period in 1998
due primarily to principal received on notes receivable for the six months ended
June 30, 1998.

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 The Internet Advisory  Corporation's common stock was $6.75 per share at June
30, 1999.

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 portion of
the  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.

                                       12
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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: August 13, 1999                  By: /s/  Wallace Neal Jordan
                                           -------------------------
                                           Chief Executive Officer