(3)

Basic and Diluted Income (Loss) Per Share

The Company calculates basic and diluted income (loss) per share as required by the FASB Accounting Standards Codification. Basic income (loss) per share is calculated by dividing net income (loss) by the weighted average number of common shares outstanding for the period. Diluted income (loss) per share is calculated by dividing net income (loss) by the weighted average number of common shares and dilutive common stock equivalents outstanding. During periods when we report a net loss, anti-dilutive common stock equivalents are not considered in the computation.  We did not have any dilutive common stock equivalents during eitherany of the three or nine month periods ended September 30, 20142015 and 2013.2014.

(4)

Spare Parts and Supplies

Spare parts and supplies include engine parts, tires, and other supplies used in the racecar operations and are recorded at the lower of cost or market, on a first-in, first-out basis.

(5)

Property and Equipment

Property and equipment are recorded at cost and are depreciated using the straight-line method over the estimated useful lives of the respective assets, ranging from 3 to 10 years.  Major additions are capitalized, while minor additions and maintenance and repairs, which do not extend the useful life of an asset, are expensed as incurred.  Depreciation expense approximated $23,000 and $26,000,$40,000 and $68,000 and $69,000, during the respective three and nine month periods ended September 30, 2015 and 2014, and 2013.$13,500 and $23,000 during the respective three month periods ended September 30, 2015 and 2014.

(6)

Employment AgreementStockholders’ Deficit

During AugustIn December 2014, we agreed to grant 10,000,000 shares of our stock to the Company entered into an employment agreementbrother in law of our President and CEO as consideration for his assistance with the development of a new officer.business opportunity (see Basis of Presentation and Going Concern above). The employment agreement isshares were issued in January 2015.   

(7)

Sale of Race Car

In January 2015 we sold a race car for a term of one yearapproximately $106,700 and includes a $30,000 salary and the issuance of 1,000,000 non-forfeitable common sharesused substantially all of the Company, valued at $50,000 based on the trading priceproceeds to satisfy approximately $100,000 of the shares on the date of grant/employment.  The shares will be issued in a lump sum and were expensed upon execution of the employment agreement and recorded as a liability at September 30, 2014.indebtedness related to such race car.

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ITEM 2.2.  Management’s Discussion and Analysis of Financial Condition and Results of Operations.

Trends and Uncertainties.  Demand  We have suffered declining revenues and recurring losses from operations, and have stockholder and working capital deficits, as well as minimal cash, at September 30, 2015.     Because of this, and because we do not anticipate being able to reverse the downward trend with respect to revenues, we filed a proxy statement with the SEC to put forward shareholder votes to (i) allow our President and CEO to acquire substantially all of our assets, and assume substantially all of our liabilities in exchange for a note receivable of $200,000 and (ii) to change the Company’s servicesname of our company to 24/7 Kid Doc, Inc.    In connection therewith, on November 9, 2015, our shareholders voted to approve both of these proposals, and products are dependent on, among other things, general economic conditionswe anticipate that such transaction will be consummated prior to December 31, 2015.   Notwithstanding such transaction, and assuming we meet the criteria for extinguishment of our liabilities in accordance with GAAP (for which there can be no assurance), we could remain contingently liable for any liabilities existing as of the date of the transaction that are cyclicalnot satisfied by the acquirer.  

Pursuant to a consulting agreement we entered with Dr. Norberto Benitez in nature.  InasmuchJanuary 2015, he will be providing his expertise in establishing our new business plan. The new business plan is to create a franchise that will deliver pediatric  services to children 24 hours a day, 7 days a week.  In addition, we will be looking to provide these same services via the Internet to people throughout the world, especially in places where it is difficult to have available pediatric doctors.  Subsequent to the consummation of  the sale, we will no longer draw any revenues from the racing operations nor will we provide any capital to support its operations.  While we do not anticipate having significant cash outlays until we implement our business plan, there can be no assurance that such model will result in profitable operations, and/or that we will be able to obtain the debt or equity financing necessary to pay our expenses.  Either of these factors could result in us having difficulty continuing as a major portiongoing concern.    The accompanying financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the Company's activities are the receiptamounts and classification of revenues from its driving school services and products, the Company's business operations mayliabilities should we be adversely affected by competitors and prolonged recessionary periods.  The Company currently has classes planned through December 2015.unable to continue as a going concern.  

Capital Resources and Source of Liquidity.  

We used cash of $294,497 to finance ourin operating activities duringof $172,949 for the nine months ended September 30, 2014.  The use2015.  

We used cash in operating activities of cash was primarily a result of us significantly reducing our balance of accounts payable and paying of expenses related to converting deferred revenue to earned revenue.$295,808 for the nine months ended September 30, 2014.

For the nine months ended September 30, 2014 and 2013,2015, we used cashreceived proceeds of $0 and $20,129, respectively$106,700 from the disposal of a race car held for sale.   We did not pursue any investing activities during the acquisition of property and equipment.nine months ended September 30, 2014.

For the nine months ended September 30, 2014,2015, we used $20,761repaid debt primarily related to repay long-term debt.  Forthe race car that we sold, and stockholder advances, of approximately $100,000 and $10,000, respectively.   Comparatively, for the nine months ended September 30, 2013,2014, we used $7,861 to repayrepaid long-term debt and received $100,000 from the issuance of stock.$20,761.

Because we have minimal cash and a significant working capital deficit at September 30, 2014,2015, we anticipate that we will need to generate additional capital (either through positive results of operations or debt or equity infusions) to meet our obligations for the next year.

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Results of Operations.Operations – Three Months Ended September 30, 2015 and 2014

For the three months ended September 30, 2015 we had sales of $390,591.  Our cost of sales and services was $246,125, resulting in a gross profit of $144,466.  We incurred general and administrative expenses of $267,103.  We recognized interest income of $1 and incurred interest expenses of $3,370.  As a result, we had a net loss of $126,006 for the three months ended September 30, 2015.

Comparatively, for the three months ended September 30, 2014, we had sales of $622,655.  Our cost of sales and services was $297,831, resulting in a gross profit of $324,824.  We incurred $313,693 in general and administrative expenses of $313,693 (including $50,000 of non-cash stock based compensation).expenses.  We earnedrecognized interest income of $13, and other income of $411. We$411 and incurred interest expenses of $3,047.  As a result, we had a net income of $8,508 for the three months ended September 30, 2014.

Comparatively, for the three months ended September 30, 2013, we had sales of $600,153.  Our cost of sales and services was $344,147, resultingThe decline in a gross profit of $256,006.  We incurred $376,724 in general and administrative expenses.  We earned interest income of $12 and other income of $631.  We incurred interest expenses of $2,796.  As a result, we had a net loss of $122,871 for the three months ended September 30, 2013.

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The improved operating results for the three months ended September 30, 20142015 compared to the three months ended September 30, 20132014 primarily resulted from decreasesa significant decrease in costsales which decreased primarily from the declining popularity of salesNASCAR, and generalalso because of the loss of the Dale Jarrett name which occurred in early 2015. In addition, certain new competitors were offering their services at significantly discounted prices through such sites as Groupon and administrative expenses.  We earned $22,502, or 3.7%, more revenue duringLiving Social.

Results of Operations – Nine Months Ended September 30, 2015 and 2014

For the threenine months ended September 30, 2014, while our2015, we had sales of $1,150,192.  Our cost of sales and services was reduced by $46,316, or 13.5% due to decreased track rental and track labor expenses.  Our$585,874, resulting in a gross profit of $564,318.  We incurred general and administrative expenses decreased by $63,031 or 16.7%of $796,822.  We recognized interest income of $35, other income of $411 and incurred interest expense of $10,401 and incurred a loss on the disposal of property of $5,600.  As a result, we had net loss of $248,470 for the threenine months ended September 30, 2014 due mostly to decreased labor and advertising costs, offset by the non-cash stock compensation cost of $50,000.  2015.

ForComparatively, for the nine months ended September 30, 2014, we had sales of $1,897,044.  Our cost of sales and services was $908,996,$908,966, resulting in a gross profit of $988,048.  We incurred general and administrative expenses of $938,571.  We earned $702 inrecognized interest income $411 in other income,of $702 and incurred $12,631 in interest expenses.expenses of $12,631.  As a result, we had a net income of $37,959 for the nine months ended September 30, 2014.

Comparatively,The decline in operating results for the nine months ended September 30, 2013, we had sales of $2,011,883.  Our cost of sales and services was $986,980, resulting in a gross profit of $1,024,903.  We paid general and administrative expenses of $1,212,560.  We earned interest income of $134 and other income of $6,754.  We paid interest expenses of $6,052 and had a loss on disposal of assets of $842.  As a result, we had a net loss of $187,663 for the nine months ended September 30, 2013.

The net income for the Company increased by $225,622 during the nine months ended September 30, 20142015 compared to the nine months ended September 30, 2013.  This increase is2014 primarily the result of reduced general and administrative expenses.  Our revenues decreased by $114,839, or 5.7%, and our cost of sales and services decreased by $77,984, or 7.9%.  Our general and administrative expenses decreased by $273,989, or 22.6%.  Our decreased sales revenue was primarily the result ofresulted from a significant decrease in class dayssales which decreased primarily from the declining popularity of NASCAR, because of the loss of the Dale Jarrett name as mentioned above, and laps during the period.  The decrease in generalbecause certain new competitors were offering their services at significantly discounted prices through such sites as Groupon and administrative expenses is the result of cost cutting measures implemented by the Company in advertising, maintenance, payroll, professional fees and rent, offset by the $50,000 non-cash stock compensation expense during the third quarter.Living Social.

Item 3.  Quantitative and Qualitative Disclosures About Market Risk

Not applicable for smaller reporting companies.

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Item 4.  Controls and Procedures

Changes in Internal Control over Financial Reporting

During the quarterperiods  ended September 30, 2015 and December 31, 2014 management determinedwe concluded that the lack of resources and segregation of duties results in disclosure controls that are not effective.  As a result there was a change in the Company'sour internal control over financial reporting (as definedwas not effective to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external reporting purposes in Rule 13a-15(f)accordance with U.S. generally accepted accounting principles as our small size does not allow us to provide for the desired segregation of control functions, and/or allow us to hire accounting personnel that have a thorough understanding of SEC rules and 15d-15(f) underregulations and such accounting principles.   Furthermore, we do not have an audit committee with an independent financial expert.  Finally we had a material weakness during such quarters with regard to limitations in the Exchange Act) that materially affected, or are reasonably likelycapacity of our accounting resources to materially affect,identify and react in a timely manner to certain transactions as well as the Company's internal control over financial reporting.

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adequate understanding of the disclosure requirements related to these transactions.   

Evaluation of Disclosure Controls and Procedures

Under the supervision and with the participation of our management, we conducted an evaluation of disclosure controls and procedures, as such term is defined under Rule 13a-15(e) and Rule 15d-15(e) promulgated under the Securities Exchange Act of 1934, as amended, as of SeptemberJune 30, 2014.2015.   Based on this evaluation, our chief executive officer and principal financial officers have concluded such controlsthere  was no  change in the Company's internal control over financial reporting (as defined in Rule 13a-15(f) and procedures were not effective because our size and15d-15(f) under the Exchange Act) during the current quarter that materially affected, or are reasonably likely to materially affect, the Company's internal control over financial resources precludes us from having full time accounting staff. This results in a lack of segregation of duties and our inability to hire personnel that have a thorough understanding of all of the nuances of generally accepted accounting principles as of September 30, 2014.reporting

Remediation of Material Weaknesses in Internal Control over Financial Reporting

We have not established adequate financial reporting monitoring activities to mitigate the risk of missed financial statement adjustments and disclosures relative to transactions that are other than routine for the reasons mentioned above.  In addition, and unless results of operations improve considerably, we do not currently anticipate that we will have the available cash flow to remediate this weakness.

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PART II - OTHER INFORMATION

Item 1.   Legal Proceedings

None

Item 1A.  Risk Factors  

Not applicable for smaller reporting companies

Item 2.   Unregistered Sales of Equity Securities and Use of Proceeds

None

Item 3.   Defaults Upon Senior Securities.

None

Item 4.   Mine Safety Disclosures

Not Applicable

Item 5.5.   Other Information

NoneRonda Robertson resigned as Chief Operating Officer and Glenn Jarrett resigned form the Board of Directors and as Corporate Treasurer effective August 6, 2015.

Item 6.   Exhibits

Exhibit 31* - Certifications pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

Exhibit 32* - Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

101.INS**   XBRL Instance Document

101.SCH**   XBRL Taxonomy Extension Schema Document

101.CAL**   XBRL Taxonomy Extension Calculation Linkbase Document

101.LAB**   XBRL Taxonomy Extension Label Linkbase Document

101.PRE**   XBRL Taxonomy Extension Presentation Linkbase Document

*  Filed herewith

**XBRL (Extensible Business Reporting Language) information is furnished and not filed or a part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections.

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SIGNATURES

Pursuant to 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.

Dated: November 19, 201420, 2015

DALE JARRETT RACING ADVENTURE, INC.

By:

/s/Timothy Shannon

Timothy Shannon

Chief Executive Officer

Principal Financial Officer

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