<PAGE>  1

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

                                 FORM 10-QSB

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

             For the Quarterly Period Ended September 30, 1997

                                     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)	
	                                                            
         	                      (800) 879-1189

         SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT:  

      Title of Each Class         Name of Each Exchange on Which Registered
        	    None                                   None

         Securities Registered Pursuant to Section 12(g) of the Act:
                        Common Stock, $.001 Par Value              
                              (Title of Class)


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, 1997, 10,558,876 shares of the registrant's common stock 
were issued and outstanding. 


<PAGE>  2

                        JORDAN AMERICAN HOLDINGS, INC.
                               AND SUBSIDIARIES

                               (NASDAQ:  JAHI)


                              Table Of Contents

PART I
<TABLE>
<CAPTION>
                                                  Page
<S>                                                <C>
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	           	10

		Results of Operations                          		12

		Liquidity and Capital Resources 	               	13
</TABLE>
                                       2
<PAGE>  3

                                       PART I.
       	                               ITEM 1.
                                FINANCIAL INFORMATION

                            JORDAN AMERICAN HOLDINGS, INC.
                                   AND SUBSIDIARIES
                             Consolidated Balance Sheets
<TABLE>
<CAPTION>
                                                 (unaudited)
                                                September 30,  December 31,
                                                      1997          1996
ASSETS
<S>                                               <C>           <C>
   Cash and cash equivalents                        $592,769    $1,725,056
   Marketable securities                             588,794       495,625
   Investment advisory fees receivable, net          189,663        92,796
   Receivable from clearing broker                    98,783       102,999
   Deposit with clearing broker                       25,000        25,000
   Prepaid expenses and other current assets          93,146        42,954
   Receivable from affiliates and officer             61,499       139,250
   Notes receivable                                  938,000       946,175
   Property and equipment, net                       226,536       189,901
      Total Assets                                $2,814,190    $3,759,756

LIABILITIES AND STOCKHOLDERS' EQUITY
   Accounts payable and accrued expenses            $206,096      $290,030
   Deferred investment advisory fees                 179,349       213,942
   Preferred stock dividend payable                   60,000             0
      Total Liabilities                             $445,445      $503,972

   Stockholders' equity:
     8% cumulative, convertible, non-voting 
       preferred stock, $0.01 par 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; 10,558,876 shares 
       issued and outstanding at September 30, 
       1997; 10,678,376 shares issued and 
       outstanding at December 31, 1996               10,559        10,678
     Additional paid-in capital                    4,699,191     4,930,202
     Treasury stock                                  (95,331)            0
     Accumulated deficit                          (2,275,674)   (1,715,096)
      Total stockholders' equity                  $2,368,745    $3,255,784
      Total liabilities and 
        stockholders' equity                      $2,814,190    $3,759,756
</TABLE>
         See accompanying notes to consolidated financial statements.

                                          3
<PAGE>  4

                              JORDAN AMERICAN HOLDINGS, INC.
                                     AND SUBSIDIARIES
                          Consolidated Statements of Operations
                                       (Unaudited)
<TABLE>
<CAPTION>
                                                  Three Months             Nine Months
                                               Ended September 30,      Ended September 30,
                                                 1997        1996         1997        1996
<S>                                         <C>         <C>          <C>         <C>
REVENUES
  Investment advisory fees                     $493,052    $195,917     $836,514  $1,430,497
  Commission income                              98,960      88,394      279,497     319,862
    Total revenues                             $592,012    $284,311   $1,116,011   1,750,359
  Selling, general and 
    administrative expenses                     634,237     353,932    1,550,165   1,557,934
    Operating income (loss)                    ($42,225)   ($69,621)   ($434,154)    192,425

OTHER INCOME (EXPENSES)
  Interest and dividend income (expense)         27,685      38,731      105,341     110,522
  Realized gain (loss) from 
    investing and trading                      (318,901)     40,248     (299,293)     (5,388)
  Unrealized gain (loss) from 
    investing and trading                       146,897      84,031      112,586     120,838
  Loss on disposal of land and building            --        (1,947)        --       (10,288)
    Total other income (expense), net         ($144,319)   $161,063     ($81,366)    215,684
    Net income (loss)                         ($186,544)    $91,442    ($515,520)   $408,109
  Dividends on preferred stock                   60,000      60,000      180,000     180,000
    Net income (loss) attributable to 
      common stock                            ($246,544)    $31,442    ($695,520)   $228,109

    Net income (loss) per common share 
      and share equivalent attributable 
      to common stock                            ($0.02)      $0.00       ($0.07)      $0.02

  Weighted average number of share and 
    share equivalents outstanding            10,544,800  10,700,115   10,605,999  10,773,785

</TABLE>
               See accompanying notes to consolidated financial statements.

                                           4
<PAGE>  5

                             JORDAN AMERICAN HOLDINGS, INC.
                                    AND SUBSIDIARIES
                         Consolidated Statements of Cash Flows
                                      (Unaudited)
<TABLE>
<CAPTION>
                                                        Nine Months Ended September 30,
                                                               1997            1996
<S>                                                      <C>             <C>         
Cash flows--operating activities
Net income (loss) from continuing operations               ($515,520)       $408,109

Adjustments to reconcile net income (loss) to 
  cash provided by (used in) operating activities:
    Depreciation                                              17,884          17,758
    Unrealized (gain) loss from investing and trading       (112,586)          5,388
    Realized (gain) loss from investing and trading          299,293        (120,838)
    Loss on disposal of land, building and equipment            --            10,288
    Issuance of common stock as compensation                  11,563            --

    Changes in operating assets and liabilities:
        Investment advisory fees receivable                  (96,867)        257,933
        Trading marketable securities                       (279,876)       (343,675)
        Prepaid expenses and other current assets            (50,192)       (102,022)
        Accounts payable and accrued expenses                (83,934)        107,592
        Deferred investment advisory fees                    (34,593)        (11,052)
        Notes receivable                                       8,175            --
        Other receivables                                     81,967            --
            Net cash provided by (used in) 
              operating activities                         ($754,686)       $229,481

Cash flows--investing activities
Capital expenditures                                         (54,519)        (16,498)
            Net cash provided by (used in) 
              investing activities                          ($54,519)       ($16,498)

Cash flows--financing activities
Repurchase of common stock                                  (203,082)       (231,220)
Net proceeds from issuance of common stock                      --            12,300
Proceeds from sale of land and building                         --            99,708
Repayment of note payable                                       --          (373,121)
Payment of preferred dividend                               (120,000)       (120,000)
            Net cash provided by (used in) 
              financing activities                         ($323,082)      ($612,333)
            Net increase (decrease) in cash 
              and cash equivilents                       ($1,132,287)      ($399,350)
Cash and cash equivalents, beginning of period             1,725,056       2,424,806
Cash and cash equivalents, end of period                    $592,769      $2,025,456

Supplemental disclosure:
    Interest paid                                             $1,304            $182

</TABLE>
           See accompanying notes to consolidated financial statements.

                                        5
<PAGE>  6

Notes to Consolidated Financial Statements (Unaudited)

    	In the opinion of management, the accompanying consolidated financial
statements contain all adjustments, consisting only of normal recurring 
adjustments, necessary to present fairly the balance sheets of Jordan 
American Holdings, Inc. (Company or JAHI) and its broker/dealer subsidiary, 
IMPACT Financial Network, Inc. (IMPACT), formerly known as Management 
Securities, Inc., as of September 30, 1997, and December 31, 1996, and the 
results of its operations for the three months and nine months ended 
September 30, 1997 and 1996, and the results of its cash flows for the nine 
months ended September 30, 1997 and 1996, 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 billings) in 
the market value of a client's portfolio, including interest and dividends, 
are fully recognized at the contract anniversary date after the period of 
management.  During the third quarter of 1997, JAHI began serving as 
investment advisor to 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 accrued daily and paid 
to JAHI on a monthly basis. Management fee compensation which is due to sales
representatives is accrued when such fees are billed and/or earned and is 
paid to sales representatives no later than quarterly.

     	Asset management contracts are generally terminable upon written 
notice from the client(s) or the Company, and percentage of assets management
fees billed in advance are refundable on a pro-rata basis.  For additional 
information regarding the Company's 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 seminars, money shows, television and radio appearances, 
direct contact, its web site (www.jahi.com), sales representatives, and 
referrals from clients, securities broker-dealers and other sources. 
Prospective 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 new account forms and other methods.

     	Approximately 80% of JAHI's clients maintain their brokerage accounts
with IMPACT, a member of the National Association of Securities Dealers, Inc.
(NASD) and the Securities Investor Protection Corporation (SIPC).  IMPACT is 
compensated for securities transactions on behalf of the Company's managed 
accounts by receipt of commissions.  IMPACT does not hold funds or securities
for clients and does not have custody of accounts for any clients of the 
Company.  IMPACT currently executes orders 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 the majority of 
the Company's managed accounts and processes all confirmations and monthly 
statements for JAHI clients who choose to maintain their accounts with 
IMPACT. 

                                     6
<PAGE>  7
     	Commission income is recognized on a settlement date basis, which 
does not differ materially from the trade date basis of accounting.  
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 and stock index futures
contracts in Company investment accounts.

     	Net income (loss) per share and share equivalent is based upon the 
weighted average number of share and 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 February 1993, JAHI completed a $3 million private placement of 
750,000 units.  Each unit is comprised of four shares of 8% cumulative 
convertible non-voting preferred stock (Preferred Stock) and one share of 
Common Stock.  The Preferred Stock is convertible at the rate of one share of
Common stock for each $3.50 in face amount of Preferred Stock converted.  The
face amount equals the initial offering price of $1.00 per share.  If at any 
time the closing bid price of  JAHI Common Stock exceeds $5.25 per share for 
a period of thirty consecutive trading days, the Company may, upon thirty 
days, written notice, convert the Preferred Stock to Common Stock using the 
above conversion rate.  If the conversion of Preferred Stock to Common Stock 
occurred, the Company would then be relieved of $240,000 in annual preferred 
dividend payments to the holders of the Preferred Stock.  

     	Preferred stock dividends are normally paid semi-annually as of 
June 30 and December 31 of each year.  At the request of the holder of the 
preferred stock, the Company agreed to pay the first semi-annual dividend of 
$120,000 on July 31 of each year and the second semi-annual dividend of 
$120,000 on November 30.  This arrangement was agreed to by both parties to 
assist the holder of the preferred stock in its cash flow needs related to 
its charitable giving as a private foundation.  This arrangement has no 
material impact on the annual operations and/or earnings of the Company.

     	The Company is not a party in any material litigation, and management
has no knowledge of any threatened material litigation against the Company.
	
     	The Financial Accounting Standards Board issued Statement of 
Financial Accounting Standards No. 123, Accounting for Stock Based 
Compensation (SFAS 123), which is effective for fiscal years beginning after 
December 15, 1995.  SFAS recommends, but does not require, measuring 
compensation cost of stock options at the grant date and recognizing the 
expense over the service period.  If the Company does not change its 
accounting method, SFAS 123 requires, at a minimum, disclosure of the pro 
forma impact on net income and net earnings per share.  The Company has 
determined that it will not change from its current method of accounting, but
will make the disclosures required by SFAS 123.

                                     7
<PAGE>  8
     	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 
consolidated financial statements which are included in the Company's 1996 
Form 10-KSB which is contained in the Company's 1996 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, (800) 879-1189; Fax: (970) 879-1272.; E-mail: info@jahi.com



                              PART I, ITEM 2
                  MANAGEMENT'S DISCUSSION AND ANALYSIS

                      JORDAN AMERICAN HOLDINGS, INC.
                             AND SUBSIDIARIES	

     	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 and 
other factors.  There can be no guarantee that the forward-looking potentials
discussed and/or referenced in this report will have any impact, positive or 
negative, upon the earnings and/or operations of the Company.

Operational Notes

     	During 1996, the Company formed a joint venture with IMPACT Financial
Network, a financial services firm which markets the investment advisory 
services of the Company.  During the third quarter of fiscal 1997, the 
Company acquired IMPACT Financial Network as well as its future revenues, 
which were formerly due to its founder, Mr. Ronald Stiller, in order to 
increase the potential benefit to the Company which a financial services and 
marketing firm may be able to achieve from its operations and revenues in are
as such as insurance, estate planning, mortgage services and charitable 
gifting, as well as asset management. The Company hired Mr. Stiller, a 
current member of the Company's Board of Directors, to serve on a full-time 
basis as JAHI's National Director of Sales & Marketing.

     	On July 1, 1997, the registration statement of the Portfolio became 
effective with the Securities and Exchange Commission (SEC).  While there can
be no guarantee that the Portfolio will be profitable, the Company believes 
that assets will be raised for the Portfolio over the next one to two years,
which may increase the Company's revenues.  Additionally, during the third 
quarter of 1997 the Company formed IMPACT Administrative Services, Inc. 
(IASI), which is expected to serve as administrator and transfer agent for 
the Portfolio, from which IASI will receive annual administrative revenues of
$165.00 per account.  There can be no guarantee, however, that the hiring of 
Mr. Stiller or the formation of IASI will necessarily result in improved 
revenues or improved net income to the Company.

                                     8
<PAGE>  9
     	 The Company recently announced the appointment of Ms. Terri Williams
Abady as a Director of the Board.  Ms. Abady founded Digital Post & Graphics,
Inc., which specializes in video graphics, editing, and special effects for 
advertising and corporate communications.   She served as President of the 
graphic design/film production company from its formation in 1987 until its 
sale in April of 1997.  Ms. Abady was actively involved in all aspects of 
commercial television sales and network and independent broadcasting 
management.  From 1976 until founding her own company in 1987, she served in 
a series of television sales and management positions, culminating in Station
Manager of KTZZ TV in Seattle, Washington. 

     	JAHI also recently announced the election of Mr. Charles R. Clark by 
the Board of Directors as the Company's new Chief Executive Officer, a 
position formerly held by Mr. Neal Jordan.  Mr. Clark, formerly Chief 
Operating Officer of JAHI, will continue to serve as Senior Assistant 
Portfolio Manager in conjunction with Mr. Jordan, who the Board appointed as 
the Company's Chief Investment Officer.  The Board believes this corporate 
management restructuring, which became effective October 1, 1997, will allow 
Mr. Jordan to focus his efforts primarily upon portfolio management for the 
Company's clients.  Mr. Clark has been with JAHI since October of 1991.

     	The Company was investigating the possible acquisition of Synergy, 
Inc. (Synergy), a small insurance firm based in the Pittsburgh, Pennsylvania 
area.  Management of the Company no longer believes that the acquisition of 
Synergy would prove materially beneficial to JAHI operations and 
shareholders.

     	The Company plans to continue expenditures for marketing and related 
sales and is pursuing business plans for asset gathering and creating 
exposure of the Company's common stock and warrants through seminars, 
national investment shows, advertising, marketing materials, joint ventures 
with other professionals, and other means.

     	With the Company's current mix of management fee accounts 
(approximately 60% of accounts pay performance based fees; approximately 40% 
of accounts pay percentage of assets based fees), in a period of normal 
trading activity with assets under management of approximately $150 million, 
the Company may be able to cover the costs of its operations (not including 
selling expenses) solely from commission revenues and percentage of assets 
investment advisory fees, including fees received from the Portfolio.  
Additional assets under management or strong performance and billings in 
percentage of profits accounts or increased trading activity through the 
Company's broker/dealer subsidiary or successful investing of Company assets 
or revenues from the Jordan Index Fund, L.P. or other sources, may 
significantly improve the Company's net earnings, although there can be no 
guarantee that any of these potentials will necessarily occur.

     	In the third quarter of 1994, Wallace Neal Jordan established Jordan 
Assets, Ltd. For providing administrative services, the Company receives 100%
of the management fee revenue, if any, from Jordan Assets, Ltd., a privately 
held affiliate which manages the Jordan Index Fund, L.P., (Fund), a limited 
partnership with assets of approximately $10 million.  The Fund invests in

                                     9
<PAGE> 10
stock index futures contracts and other securities and receives as its fee
20% of the Fund's trading profits.  Fees for this Fund are accounted for as 
deferred revenue until the annual billing date of the Fund, which is July 31
of each year.  Revenues to JAHI from the Fund were approximately $90,000 in 
1995 as compared to no revenues from the Fund in 1996 and 1997.  
Additionally, potential investors in the Company's common stock or warrants 
should understand that there is no guarantee that the Fund will continue to 
exist as a potential revenue source for the Company.

     	The Company is also currently involved with the formation of a new 
limited partnership in order to increase assets under management and thereby 
seek to improve corporate earnings.  Currently, the Company has advanced 
approximately $43,000 in the formation of the partnership, which amount is 
anticipated to be repaid by the partnership upon commencement of operations.  
If the partnership does not gather enough assets to initiate management 
during the next two quarters of operations, the Company may have to recognize
this $43,000 receivable as an expense.

     	As of April 1997, the Company is no longer charging management fees 
on holdings of JAHI common stock and warrants.  While this policy will 
eliminate management fee revenues from holdings in JAHI securities, 
management believes it is in the best interest of our clients and our 
shareholders to implement this policy.

Risk Factors, Trends & Uncertainties

     	Total assets under management and corporate earnings may 
substantially increase or decrease due to stock market conditions including 
the onset of a long-term declining, or bear market, performance returns as 
influenced by the Company's investment advisory decisions, legal and other 
professional fees, effectiveness of marketing and sales efforts, competition 
from other investment advisory companies and mutual funds, interest rate 
changes by the Federal Reserve Board, economic conditions such as high 
inflation and/or recession, and other factors discussed below.
	
     	Management fees for the third quarter were relatively strong because 
of performance in clients' managed accounts.  Nevertheless, unless account 
performance and/or asset gathering increases, or trading activity improves or
increases, the current earnings trend may continue.  Market conditions and 
other factors may materially impact this trend either positively or 
negatively. The Company will be subject, as are other companies in the 
securities industry, to general stock market conditions and fluctuations as 
influenced by Federal Reserve Board actions, both domestic and international 
economic and political conditions and events, and trends in business, 
finance, the economy and other factors. 

     	Long-term trends in retention of client assets since fiscal year-end 
1995 show that for fiscal 1996, the company 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.  During the 
nine months ended September 30, 1997, the Company also experienced a net 
decrease in assets under management of approximately $3.15 million.

                                    10
<PAGE> 11
     	Exceptional performance in percentage of profit accounts may result 
in substantial revenues for the Company while poor performance in the same 
accounts may yield no revenues for the Company from approximately 60% of the 
Company's total assets under management.  Additionally, because percentage of
profit accounts are billed on an annual basis 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 was achieved as dependent 
on the billing cycle of respective clients and other investment results in 
respective accounts.

     	The securities industry is 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, 
and commodity trading advisors are highly regulated by both federal and state
authorities and by self-regulatory organizations.  Such regulations may 
restrict both the types of investments and amount of investments that JAHI 
may employ.  The NASD, for instance, has strict requirements for the 
maintenance of net capital requirements by broker-dealers such as IMPACT. 
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, and commodity trading business 
will not have an adverse effect upon the business of the Company, or that the
Company will remain in compliance with all applicable law and regulations.

     	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 IMPACT 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 
IMPACT.  

     	Because of this potential conflict of interest, these arrangements 
may be closely examined by the SEC, the NASD and other regulatory authorities
to determine that such transactions are conducted within the rules and 
regulations promulgated by the SEC and others.  Findings to the contrary may 
subject the Company to censures, fines and/or other liabilities, or cause the
Company to change its method of doing business, and could therefore have a 
material adverse effect on the Company.  The SEC requires that these 
arrangements be in the best interests of the clients and that such 
arrangements be disclosed to them. While the Company believes that its 
existing and proposed relationships are in compliance with applicable law 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 exposure under federal and state securities laws 
in connection with the distribution of 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 claimants.

                                    11
<PAGE> 12
     	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
analysis, coupled with its long-term track record, make it an attractive 
alternative to the mutual fund industry and more traditional money managers, 
but there can be no guarantee that this is necessarily the case.

     	Effective February 23, 1998, the Nasdaq Stock Market adopted new 
standards for continued listing of securities on the Nasdaq Small-Cap Market 
which may adversely effect the Company.  There can be no guarantee that the 
Company will be able to meet or maintain these listing standards, which 
include but are not limited to a minimum share price of $1.00 for small-
capitalization companies such as Jordan American Holdings, Inc.  Should the 
Company not be able to meet or maintain the new listing standards, the  
Company may be de-listed from its current listing and be traded on the
Electronic Bulletin Board.  Such an event, if it occurs, may adversely effect
the trading and liquidity of the Company's common stock and warrants.
Additionally, if the Company's securities are de-listed, proposed re-entry
standards may be much more difficult for the Company to achieve in order to
gain re-listing in the Nasdaq Small-Cap Market.  The Company is currently
investigating various business options and seeking to avoid potential
de-listing.

Results of Operations

     	The Company had a net loss for the three months ended September 30, 
1997 of ($246,544) or ($0.02) per common share and share equivalent compared 
to a net gain of $31,442 or $0.00 per common share and share equivalent for 
the same period in 1996.  This loss resulted from increased selling, general 
and administrative expenses related to the formation and marketing of the 
Portfolio and realized losses from investing and trading in the Company's 
investment accounts.  Selling, general, and administrative ("SG&A") expenses 
of $634,237 were incurred during the three month period ended September 30, 
1997, compared to SG&A expenses of $353,932 for the same period in 1996, an 
increase of approximately 79%.   

     	For the three months ended September 30, 1997, revenues from 
investment advisory fees totaled $493,052 compared to revenues from 
investment advisory fees of $195,917 for the same period in 1996, an increase
of approximately 152% due primarily to stronger performance billings in 
managed accounts during the third quarter of fiscal 1997.

     	Commission revenue increased for the three months ended September 30,
1997, to $98,960 as compared to $88,394 for the same period in 1996.  This 
increase is due to stock transactions resulting from an increase in the 
amount of securities being purchased and sold in client accounts as 
determined by the management of the Company based on market conditions and 
other factors. Additionally, the Company has re-negotiated its clearing 

                                    12
<PAGE> 13
arrangement with its current clearing house, Pershing.  While there can be no
guarantee this change will result in substantial benefits to the Company, 
improved clearing costs may improve profit margins in commission revenues 
received by the Company's broker/dealer subsidiary, IMPACT.

     	Total other income (expense) was ($144,319) for the three months 
ended September 30, 1997, compared to $161,043 for the three months ended 
September 30, 1996.  This increase in expense was primarily due to realized 
losses in Company investment accounts from trading stock index futures 
contracts.

Liquidity and Capital Resources

     	At September 30, 1997, the Company had cash and cash equivalents of 
$592,769 versus $1,725,056 at December 31, 1996.  This decrease is primarily 
due to use of cash for marketing purposes and sales expenses related to the 
Portfolio, professional fees, and the repurchase of JAHI common stock by the 
Company since December 31, 1996.  During the third quarter of 1997, the 
Company used $95,331 to repurchase 150,000 shares of JAHI common stock, which
was retired on October 9, 1997.

     	Accounts payable and accrued expenses were $206,096 at September 30, 
1997, as compared to $290,030 at December 31, 1996, a decrease of 
approximately 29%.  Accruals are based upon expenses as determined by 
management's estimate.

     	During the third quarter of fiscal 1997, the Company elected to 
expense Receivable From Affiliates and Officer by approximately $98,000 as a 
signing bonus to Mr. Stiller in consideration for his employment and 
compensation package with the Company as National Director of Sales & 
Marketing.  This amount previously was to have been reimbursed to the Company
from revenues related to IMPACT Management Services, Inc., the administrator
and transfer agent for the Portfolio.  The Company's commitment to marketing
and asset gathering will continue to result in an increased use of cash.	

     	Cash flows used in operating activities for the nine months ended 
September 30, 1997, were ($754,686) compared to net cash provided by 
operating activities of $229,481 for the same period in 1996.  Cash flows 
used in financing activities were ($323,082) for the nine month period ended 
September 30, 1997, compared to ($612,333) for the same period in 1996, 
during which time cash was used to repurchase JAHI common stock and in 
conjunction with the payment of the debt of the Company's former corporate 
headquarters in Sarasota, Florida.  Management of the Company believes 
current and long-term cash needs will be met despite increased marketing 
expenses and the ongoing repurchase of the Company's common stock.
	
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<PAGE> 14

                               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, 1997	             	By:  /s/ Charles R. Clark
                             					              	Charles R. Clark
                                           						Chief Executive Officer


Dated:  November 14, 1997	             	By:  /s/ Frederick A. Whittlesey
                                           						Frederick A. Whittlesey
                                           						Chief Financial Officer

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