Runtimes for xhp35 flashlights? Capacity question

I have a flashlight this uses 4x 18650s that are powering 4x xhp35 LEDs. The LED needs 12v to run, so does that mean I only have the capacity of 1x 18650 (3000mah 30Q) because all the batterys are in series to create the correct voltage?
Please explain, thank you. The flashlight is a TN40svn

Yes, you have effective capacity of 3000mAh @ 14.8V.