10-Q/A Filing

Quest Resource Holding Corp CIK: 1442236 Q1 2012

Filing Information

Form Type	10-Q/A
Accession Number	`0001096906-11-003117`
Period End Date	20110930
Filing Date	20111219
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	ycng-20110930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 57 Income Statement 49 Cash Flow Statement 65 Stockholders Equity 30

Balance Sheet 57 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$44.31K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.66K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$66.26K	USD	Point-in-time
Discount on convertible notes payable - related party	`DebtInstrumentUnamortizedDiscount`	$20.73K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$32.90K	USD	Point-in-time
Inventory	`InventoryNet`	$3.52K	USD	Point-in-time
Inventory	`InventoryNet`	$2.04K	USD	Point-in-time
Common stock par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock shares authorized	`CommonStockSharesAuthorized`	60.00M	shares	Point-in-time
Common stock shares authorized	`CommonStockSharesAuthorized`	60.00M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$13.82K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$14.54K	USD	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	38.43M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$84.33K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$20.51K	USD	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	39.01M	shares	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	38.93M	shares	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	38.35M	shares	Point-in-time
Advances to Feature Marketing	`NotesAndLoansReceivableNetNoncurrent`	$96.88K	USD	Point-in-time
Advances to Feature Marketing	`NotesAndLoansReceivableNetNoncurrent`	$96.88K	USD	Point-in-time
Treasury stock shares	`TreasuryStockShares`	75,000.00	shares	Point-in-time
Property and equipment - net	`PropertyPlantAndEquipmentNet`	$4.07K	USD	Point-in-time
Treasury stock shares	`TreasuryStockShares`	75,000.00	shares	Point-in-time
Property and equipment - net	`PropertyPlantAndEquipmentNet`	$3.77K	USD	Point-in-time
Capitalized software costs	`CapitalizedComputerSoftwareGross`	$147.15K	USD	Point-in-time
Capitalized software costs	`CapitalizedComputerSoftwareGross`	$128.65K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$7.37K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$6.50K	USD	Point-in-time
Total assets	`Assets`	$275.67K	USD	Point-in-time
Total assets	`Assets`	$320.42K	USD	Point-in-time
Accounts payable and other accrued expenses	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$61.61K	USD	Point-in-time
Accounts payable and other accrued expenses	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$63.21K	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$267.00	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$8.95K	USD	Point-in-time
Notes and advances payable - related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$42.50K	USD	Point-in-time
Notes and advances payable - related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$37.50K	USD	Point-in-time
Convertible notes payable - short term	`ConvertibleNotesPayableCurrent`	$75.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$184.66K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$104.37K	USD	Point-in-time
Convertible notes payable - long-term	`ConvertibleLongTermNotesPayable`	$25.00K	USD	Point-in-time
Convertible notes payable - related party, net of discount of nil and $20,729 as of September 30, 2011 and June 30, 2011, respectively	`NotesPayableRelatedPartiesNoncurrent`	$4.27K	USD	Point-in-time
Total liabilities	`Liabilities`	$129.37K	USD	Point-in-time
Total liabilities	`Liabilities`	$188.93K	USD	Point-in-time
Shareholders' equity: Common stock, $.001 par value; 60,000,000 shares authorized; 39,005,605 and 38,426,227 shares issued as of September 30, 2011 and June 30, 2011, respectively; 38,930,605 and 38,351,227 shares outstanding as of September 30, 2011 and June 30, 2011, respectively	`CommonStockValue`	$39.01K	USD	Point-in-time
Shareholders' equity: Common stock, $.001 par value; 60,000,000 shares authorized; 39,005,605 and 38,426,227 shares issued as of September 30, 2011 and June 30, 2011, respectively; 38,930,605 and 38,351,227 shares outstanding as of September 30, 2011 and June 30, 2011, respectively	`CommonStockValue`	$38.43K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.94M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$2.10M	USD	Point-in-time
Treasury stock, at cost (75,000 common shares as of September 30, 2011 and June 30, 2011, respectively)	`TreasuryStockValue`	$26.25K	USD	Point-in-time
Treasury stock, at cost (75,000 common shares as of September 30, 2011 and June 30, 2011, respectively)	`TreasuryStockValue`	$26.25K	USD	Point-in-time
Deficit accumulated during the development stage	`DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage`	$1.97M	USD	Point-in-time
Deficit accumulated during the development stage	`DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage`	$1.82M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$146.30K	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$-66.10K	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$131.49K	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$275.67K	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$320.42K	USD	Point-in-time

Income Statement 49 line items

Line Item	Tag	Value	Unit	Period
Net revenues	`Revenues`	$19.99K	USD	12 Qtrs
Net revenues	`Revenues`	$10.83K	USD	1 Quarter
Cost of products sold	`CostOfGoodsSold`	$8.23K	USD	12 Qtrs
Cost of products sold	`CostOfGoodsSold`	$2.85K	USD	1 Quarter
Gross profit	`GrossProfit`	$11.76K	USD	12 Qtrs
Gross profit	`GrossProfit`	$7.99K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$824.59K	USD	12 Qtrs
Professional fees	`ProfessionalFees`	$60.98K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$75.10K	USD	1 Quarter
Salaries and wages	`SalariesAndWages`	$35.51K	USD	1 Quarter
Salaries and wages	`SalariesAndWages`	$134.25K	USD	12 Qtrs
Licensing fees	`OtherCostAndExpenseOperating`	$64.13K	USD	1 Quarter
Licensing fees	`OtherCostAndExpenseOperating`	$89.13K	USD	12 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$20.67K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$131.20K	USD	12 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$13.98K	USD	1 Quarter
Marketing	`MarketingExpense`	$75.50K	USD	12 Qtrs
Marketing	`MarketingExpense`	$15.98K	USD	1 Quarter
Marketing	`MarketingExpense`	$11.75K	USD	1 Quarter
Expense of reverse merger	`BusinessCombinationAcquisitionRelatedCosts`	$620.04K	USD	12 Qtrs
Expense of reverse merger	`BusinessCombinationAcquisitionRelatedCosts`	$1.34K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$133.14K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.87M	USD	12 Qtrs
Total operating expenses	`OperatingExpenses`	$166.31K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-125.15K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.86M	USD	12 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-166.31K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$3.30K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$4.58K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$30.87K	USD	12 Qtrs
Interest expense	`InterestExpense`	$133.41K	USD	12 Qtrs
Interest expense	`InterestExpense`	$1.11K	USD	1 Quarter
Interest expense	`InterestExpense`	$21.20K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$3.46K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-102.53K	USD	12 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-17.89K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-143.05K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-162.85K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-755.27K	USD	Annual
Net loss	`NetIncomeLoss`	$-67.10K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-1.97M	USD	12 Qtrs
Net loss	`NetIncomeLoss`	$-1.00M	USD	Annual
Basic and diluted net loss per common share	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Basic and diluted net loss per common share	`EarningsPerShareBasicAndDiluted`	-	USD	12 Qtrs
Basic and diluted net loss per common share	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Weighted average common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	35.81M	shares	1 Quarter
Weighted average common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	38.76M	shares	1 Quarter
Weighted average common shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	35.81M	shares	1 Quarter
Weighted average common shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	38.76M	shares	1 Quarter

Cash Flow Statement 65 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-143.05K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-162.85K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-755.27K	USD	Annual
Net loss	`NetIncomeLoss`	$-67.10K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-1.97M	USD	12 Qtrs
Net loss	`NetIncomeLoss`	$-1.00M	USD	Annual
Amortization of debt discounts and deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$20.73K	USD	1 Quarter
Amortization of debt discounts and deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$106.32K	USD	12 Qtrs
Depreciation expense	`DepreciationExpense`	$300.00	USD	1 Quarter
Depreciation expense	`DepreciationExpense`	$300.00	USD	1 Quarter
Depreciation expense	`DepreciationExpense`	$1.50K	USD	12 Qtrs
Common stock issued for services	`ShareBasedCompensation`	$48.78K	USD	1 Quarter
Common stock issued for services	`ShareBasedCompensation`	$458.10K	USD	12 Qtrs
Common stock issued for services	`ShareBasedCompensation`	$409.33K	USD	Annual
Common stock issued for services	`ShareBasedCompensation`	$149.21K	USD	1 Quarter
Common stock issued for interest	`PaidInKindInterest`	$13.68K	USD	12 Qtrs
Cash based expense for reverse merger	`CashBasedExpenseForReverseMerger`	$125.00K	USD	12 Qtrs
Common stock issued for reverse merger	`CommonStockIssuedForReverseMerger`	$495.04K	USD	12 Qtrs
Change in Inventory	`IncreaseDecreaseInInventories`	$2.04K	USD	12 Qtrs
Change in Inventory	`IncreaseDecreaseInInventories`	$-1.49K	USD	1 Quarter
Change in Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$9.58K	USD	1 Quarter
Change in Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$146.00	USD	1 Quarter
Change in Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$31.81K	USD	12 Qtrs
Change in Accounts payable and other accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$60.62K	USD	12 Qtrs
Change in Accounts payable and other accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-45.10K	USD	1 Quarter
Change in Accounts payable and other accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.61K	USD	1 Quarter
Change in Accrued interest payable	`IncreaseDecreaseInInterestPayableNet`	$13.35K	USD	12 Qtrs
Change in Accrued interest payable	`IncreaseDecreaseInInterestPayableNet`	$406.00	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-725.73K	USD	12 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-73.10K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-68.01K	USD	1 Quarter
Software development costs	`PaymentsToDevelopSoftware`	$18.50K	USD	1 Quarter
Software development costs	`PaymentsToDevelopSoftware`	$147.15K	USD	12 Qtrs
Software development costs	`PaymentsToDevelopSoftware`	$25.40K	USD	1 Quarter
Advances to Feature Marketing	`PaymentsForProceedsFromLoansReceivable`	$15.00K	USD	1 Quarter
Advances to Feature Marketing	`PaymentsForProceedsFromLoansReceivable`	$110.00K	USD	12 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.26K	USD	12 Qtrs
Cash paid for reverse merger	`PaymentsForMergerRelatedCosts`	$87.50K	USD	12 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-18.50K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-40.40K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-349.92K	USD	12 Qtrs
Proceeds from convertible notes payable	`ProceedsFromConvertibleDebt`	$283.00K	USD	12 Qtrs
Proceeds from convertible notes payable	`ProceedsFromConvertibleDebt`	$25.00K	USD	1 Quarter
Proceeds from convertible notes payable	`ProceedsFromConvertibleDebt`	$72.00K	USD	1 Quarter
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$255.00K	USD	12 Qtrs
Proceeds from notes payable	`ProceedsFromNotesPayable`	$25.00K	USD	1 Quarter
Proceeds from notes payable	`ProceedsFromNotesPayable`	$500.00K	USD	12 Qtrs
Borrowings from related parties	`ProceedsFromRelatedPartyDebt`	$5.00K	USD	1 Quarter
Borrowings from related parties	`ProceedsFromRelatedPartyDebt`	$93.99K	USD	12 Qtrs
Repayment of related party payables	`RepaymentsOfRelatedPartyDebt`	$1.69K	USD	12 Qtrs
Fees paid for financing costs	`PaymentsOfFinancingCosts`	$50.00K	USD	12 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.08M	USD	12 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$97.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$30.00K	USD	1 Quarter
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-11.41K	USD	1 Quarter
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$4.66K	USD	12 Qtrs
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-61.60K	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$44.31K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.66K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$66.26K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$32.90K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$44.31K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$4.66K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$66.26K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$32.90K	USD	Point-in-time

Stockholders Equity 30 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$146.30K	USD	Point-in-time
Balance	`StockholdersEquity`	$-66.10K	USD	Point-in-time
Balance	`StockholdersEquity`	$131.49K	USD	Point-in-time
Balance - shares	`SharesIssued`	39.01M	shares	Point-in-time
Balance - shares	`SharesIssued`	1.00M	shares	Point-in-time
Balance - shares	`SharesIssued`	38.43M	shares	Point-in-time
Conversion of convertible notes payable and accrued interest	`StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments`	$162.00K	USD	Annual
Conversion of convertible notes payable and accrued interest	`StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments`	$109.08K	USD	1 Quarter
Conversion of convertible notes payable and accrued interest	`StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments`	$513.68K	USD	Annual
Conversion of convertible notes payable and accrued interest - shares	`StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities`	436,337.00	shares	1 Quarter
Conversion of convertible notes payable and accrued interest - shares	`StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities`	615,886.00	shares	Annual
Conversion of convertible notes payable and accrued interest - shares	`StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities`	683,197.00	shares	Annual
Common stock issued for services	`ShareBasedCompensation`	$48.78K	USD	1 Quarter
Common stock issued for services	`ShareBasedCompensation`	$458.10K	USD	12 Qtrs
Common stock issued for services	`ShareBasedCompensation`	$409.33K	USD	Annual
Common stock issued for services	`ShareBasedCompensation`	$149.21K	USD	1 Quarter
Common stock issued for services - shares	`StockIssuedDuringPeriodSharesShareBasedCompensation`	1.40M	shares	Annual
Common stock issued for services - shares	`StockIssuedDuringPeriodSharesShareBasedCompensation`	143,041.00	shares	1 Quarter
Net loss	`NetIncomeLoss`	$-143.05K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-162.85K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-755.27K	USD	Annual
Net loss	`NetIncomeLoss`	$-67.10K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-1.97M	USD	12 Qtrs
Net loss	`NetIncomeLoss`	$-1.00M	USD	Annual
Balance	`StockholdersEquity`	$146.30K	USD	Point-in-time
Balance	`StockholdersEquity`	$-66.10K	USD	Point-in-time
Balance	`StockholdersEquity`	$131.49K	USD	Point-in-time
Balance - shares	`SharesIssued`	39.01M	shares	Point-in-time
Balance - shares	`SharesIssued`	1.00M	shares	Point-in-time
Balance - shares	`SharesIssued`	38.43M	shares	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.