10-K Filing

Quest Resource Holding Corp CIK: 1442236 FY 2012

Filing Information

Form Type	10-K
Accession Number	`0001096906-12-002547`
Period End Date	20120630
Filing Date	20121015
Fiscal Year	2012
Fiscal Period	FY
XBRL Instance	ycng-20120630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 53 Cash Flow Statement 76 Stockholders Equity 27

Balance Sheet 58 line items

Line Item	Tag	Value	Unit	Period
Discount on convertible notes payable - short term	`DiscountOnConvertibleNotesPayableShortTerm`	$1.36K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$44.31K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$66.26K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$51.35K	USD	Point-in-time
Discount on convertible notes payable - related party	`DiscountOnConvertibleNotesPayableRelatedParty`	$20.73K	USD	Point-in-time
Inventory	`InventoryNet`	$7.49K	USD	Point-in-time
Discount on convertible notes payable - related party	`DiscountOnConvertibleNotesPayableRelatedParty`	$11.12K	USD	Point-in-time
Inventory	`InventoryNet`	$3.52K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$14.54K	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
Total current assets	`AssetsCurrent`	$58.84K	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
Total current assets	`AssetsCurrent`	$84.33K	USD	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	43.02M	shares	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	38.43M	shares	Point-in-time
Advances to Feature Marketing, net	`NotesAndLoansReceivableNetNoncurrent`	$96.88K	USD	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	38.35M	shares	Point-in-time
Property and equipment - net	`PropertyPlantAndEquipmentNet`	$4.07K	USD	Point-in-time
Property and equipment - net	`PropertyPlantAndEquipmentNet`	$5.03K	USD	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	42.95M	shares	Point-in-time
Capitalized software costs	`CapitalizedComputerSoftwareGross`	$128.65K	USD	Point-in-time
Treasury stock shares	`TreasuryStockShares`	75,000.00	shares	Point-in-time
Treasury stock shares	`TreasuryStockShares`	75,000.00	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$6.50K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$9.77K	USD	Point-in-time
Total assets	`Assets`	$73.65K	USD	Point-in-time
Total assets	`Assets`	$320.42K	USD	Point-in-time
Accounts payable and other accrued expenses	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$63.21K	USD	Point-in-time
Accounts payable and other accrued expenses	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$139.67K	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$6.97K	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$8.95K	USD	Point-in-time
Note payable	`NotesPayable`	$6.00K	USD	Point-in-time
Note payable - related party	`NotesPayableRelatedPartiesCurrent`	$37.50K	USD	Point-in-time
Note payable - related party	`NotesPayableRelatedPartiesCurrent`	$37.50K	USD	Point-in-time
Convertible notes payable, net of discount of $1,357 and nil as of June 30, 2012 and 2011, respectively	`ConvertibleNotesPayableCurrent`	$63.64K	USD	Point-in-time
Convertible notes payable, net of discount of $1,357 and nil as of June 30, 2012 and 2011, respectively	`ConvertibleNotesPayableCurrent`	$75.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$184.66K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$253.79K	USD	Point-in-time
Convertible notes payable - related party, net of discount of $11,120 and $20,729 as of June 30, 2012 and 2011, respectively	`NotesPayableRelatedPartiesNoncurrent`	$4.27K	USD	Point-in-time
Convertible notes payable - related party, net of discount of $11,120 and $20,729 as of June 30, 2012 and 2011, respectively	`NotesPayableRelatedPartiesNoncurrent`	$66.88K	USD	Point-in-time
Total liabilities	`Liabilities`	$188.93K	USD	Point-in-time
Total liabilities	`Liabilities`	$320.67K	USD	Point-in-time
Shareholders' equity: Common stock, $.001 par value; 60,000,000 shares authorized; 43,020,937 and 38,426,227 shares issued as of June 30, 2012 and 2011, respectively; 42,945,937 and 38,351,227 shares outstanding as of June 30, 2012 and 2011, respectively	`CommonStockValue`	$38.43K	USD	Point-in-time
Shareholders' equity: Common stock, $.001 par value; 60,000,000 shares authorized; 43,020,937 and 38,426,227 shares issued as of June 30, 2012 and 2011, respectively; 42,945,937 and 38,351,227 shares outstanding as of June 30, 2012 and 2011, respectively	`CommonStockValue`	$43.02K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$3.47M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.94M	USD	Point-in-time
Treasury stock, at cost (75,000 common shares as of June 30, 2012 and 2011 respectively)	`TreasuryStockValue`	$26.25K	USD	Point-in-time
Treasury stock, at cost (75,000 common shares as of June 30, 2012 and 2011 respectively)	`TreasuryStockValue`	$26.25K	USD	Point-in-time
Deficit accumulated during the development stage	`DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage`	$1.82M	USD	Point-in-time
Deficit accumulated during the development stage	`DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage`	$3.74M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$-247.02K	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$-66.10K	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$35.37K	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$131.49K	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$73.65K	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$320.42K	USD	Point-in-time

Income Statement 53 line items

Line Item	Tag	Value	Unit	Period
Net revenues	`Revenues`	$103.14K	USD	15 Qtrs
Net revenues	`Revenues`	$93.97K	USD	Annual
Net revenues	`Revenues`	$9.16K	USD	Annual
Cost of products sold	`CostOfGoodsSold`	$20.09K	USD	Annual
Cost of products sold	`CostOfGoodsSold`	$25.47K	USD	15 Qtrs
Cost of products sold	`CostOfGoodsSold`	$5.39K	USD	Annual
Gross profit	`GrossProfit`	$73.89K	USD	Annual
Gross profit	`GrossProfit`	$3.77K	USD	Annual
Gross profit	`GrossProfit`	$77.66K	USD	15 Qtrs
Professional fees	`ProfessionalFees`	$432.70K	USD	Annual
Professional fees	`ProfessionalFees`	$2.00M	USD	15 Qtrs
Professional fees	`ProfessionalFees`	$1.24M	USD	Annual
Salaries and wages	`SalariesAndWages`	$260.51K	USD	15 Qtrs
Salaries and wages	`SalariesAndWages`	$98.74K	USD	Annual
Salaries and wages	`SalariesAndWages`	$161.77K	USD	Annual
Bad debt expense	`InterestAndDebtExpense`	$116.59K	USD	Annual
Bad debt expense	`InterestAndDebtExpense`	$116.59K	USD	15 Qtrs
Licensing fees	`OtherCostAndExpenseOperating`	$89.13K	USD	Annual
Licensing fees	`OtherCostAndExpenseOperating`	$92.98K	USD	15 Qtrs
Licensing fees	`OtherCostAndExpenseOperating`	$3.85K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$60.29K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$233.12K	USD	15 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$122.59K	USD	Annual
Marketing	`MarketingExpense`	$47.79K	USD	Annual
Marketing	`MarketingExpense`	$93.70K	USD	Annual
Marketing	`MarketingExpense`	$153.22K	USD	15 Qtrs
Software develpoment expense	`ResearchAndDevelopmentExpenseSoftwareExcludingAcquiredInProcessCost`	$191.15K	USD	15 Qtrs
Software develpoment expense	`ResearchAndDevelopmentExpenseSoftwareExcludingAcquiredInProcessCost`	$191.15K	USD	Annual
Expense of reverse merger	`BusinessCombinationAcquisitionRelatedCosts`	$620.04K	USD	15 Qtrs
Total operating expenses	`OperatingExpenses`	$1.92M	USD	Annual
Total operating expenses	`OperatingExpenses`	$3.67M	USD	15 Qtrs
Total operating expenses	`OperatingExpenses`	$728.65K	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-1.85M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-3.59M	USD	15 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-724.87K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$40.77K	USD	15 Qtrs
Interest income	`InvestmentIncomeInterest`	$18.13K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$13.20K	USD	Annual
Interest expense	`InterestExpense`	$48.53K	USD	Annual
Interest expense	`InterestExpense`	$187.19K	USD	15 Qtrs
Interest expense	`InterestExpense`	$74.98K	USD	Annual
Total other expense	`OtherExpenses`	$-30.40K	USD	Annual
Total other expense	`OtherExpenses`	$-146.41K	USD	15 Qtrs
Total other expense	`OtherExpenses`	$-61.78K	USD	Annual
Net loss	`NetIncomeLoss`	$-1.00M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.91M	USD	Annual
Net loss	`NetIncomeLoss`	$-755.27K	USD	Annual
Net loss	`NetIncomeLoss`	$-3.74M	USD	15 Qtrs
Net loss	`NetIncomeLoss`	$-67.10K	USD	3 Qtrs
Basic and diluted net loss per common share	`EarningsPerShareBasicAndDiluted`	$-0.05	USD	Annual
Basic and diluted net loss per common share	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	Annual
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	36.61M	shares	Annual
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	39.69M	shares	Annual

Cash Flow Statement 76 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.00M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.91M	USD	Annual
Net loss	`NetIncomeLoss`	$-755.27K	USD	Annual
Net loss	`NetIncomeLoss`	$-3.74M	USD	15 Qtrs
Net loss	`NetIncomeLoss`	$-67.10K	USD	3 Qtrs
Amortization of debt discounts and deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$150.17K	USD	15 Qtrs
Amortization of debt discounts and deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$64.58K	USD	Annual
Amortization of debt discounts and deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$35.59K	USD	Annual
Depreciation expense	`DepreciationExpense`	$1.20K	USD	Annual
Depreciation expense	`DepreciationExpense`	$1.20K	USD	Annual
Depreciation expense	`DepreciationExpense`	$2.40K	USD	15 Qtrs
Bad debt expense	`InterestAndDebtExpense`	$116.59K	USD	Annual
Bad debt expense	`InterestAndDebtExpense`	$116.59K	USD	15 Qtrs
Common stock issued for services	`ShareBasedCompensation`	$1.45M	USD	15 Qtrs
Common stock issued for services	`ShareBasedCompensation`	$409.33K	USD	Annual
Common stock issued for services	`ShareBasedCompensation`	$1.04M	USD	Annual
Common stock issued for interest	`PaidInKindInterest`	$358.00	USD	Annual
Common stock issued for interest	`PaidInKindInterest`	$14.04K	USD	15 Qtrs
Cash based expense for reverse merger	`CashBasedExpenseForReverseMerger`	$125.00K	USD	15 Qtrs
Common stock issued for reverse merger	`CommonStockIssuedForReverseMerger`	495,040.00	shares	15 Qtrs
Impairment of capitalized software costs	`CapitalizedComputerSoftwarePeriodIncreaseDecrease`	$128.65K	USD	Annual
Impairment of capitalized software costs	`CapitalizedComputerSoftwarePeriodIncreaseDecrease`	$128.65K	USD	15 Qtrs
Change in Inventory	`IncreaseDecreaseInInventories`	$3.52K	USD	Annual
Change in Inventory	`IncreaseDecreaseInInventories`	$7.49K	USD	15 Qtrs
Change in Inventory	`IncreaseDecreaseInInventories`	$3.97K	USD	Annual
Change in Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$20.27K	USD	Annual
Change in Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$10.45K	USD	Annual
Change in Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$42.12K	USD	15 Qtrs
Change in Accounts payable and other accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$138.68K	USD	15 Qtrs
Change in Accounts payable and other accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$76.46K	USD	Annual
Change in Accounts payable and other accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-37.38K	USD	Annual
Change in Accrued interest payable	`IncreaseDecreaseInInterestPayableNet`	$20.05K	USD	15 Qtrs
Change in Accrued interest payable	`IncreaseDecreaseInInterestPayableNet`	$7.11K	USD	Annual
Change in Accrued interest payable	`IncreaseDecreaseInInterestPayableNet`	$12.94K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-357.39K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-488.74K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.14M	USD	15 Qtrs
Software development costs	`PaymentsToDevelopSoftware`	$88.65K	USD	Annual
Software development costs	`PaymentsToDevelopSoftware`	$128.65K	USD	15 Qtrs
Advances to Feature Marketing	`PaymentsForAdvanceToAffiliate`	$-2.00K	USD	Annual
Advances to Feature Marketing	`PaymentsForAdvanceToAffiliate`	$40.00K	USD	Annual
Advances to Feature Marketing	`PaymentsForAdvanceToAffiliate`	$108.00K	USD	15 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.17K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$7.43K	USD	15 Qtrs
Cash paid for reverse merger	`PaymentsForMergerRelatedCosts`	$87.50K	USD	15 Qtrs
Net cash provided by (used) in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-331.58K	USD	15 Qtrs
Net cash provided by (used) in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-128.65K	USD	Annual
Net cash provided by (used) in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-167.00	USD	Annual
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$142.00K	USD	Point-in-time
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$580.00K	USD	15 Qtrs
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$250.00K	USD	Annual
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$325.00K	USD	Annual
Proceeds from convertible notes payable	`ProceedsFromConvertibleDebt`	$258.00K	USD	Annual
Proceeds from convertible notes payable	`ProceedsFromConvertibleDebt`	$901.00K	USD	15 Qtrs
Proceeds from convertible notes payable	`ProceedsFromConvertibleDebt`	$143.00K	USD	Annual
Proceeds from notes payable	`ProceedsFromNotesPayable`	$76.00K	USD	Annual
Proceeds from notes payable	`ProceedsFromNotesPayable`	$76.00K	USD	15 Qtrs
Borrowings from related parties	`ProceedsFromRelatedPartyDebt`	$40.50K	USD	Annual
Borrowings from related parties	`ProceedsFromRelatedPartyDebt`	$129.49K	USD	15 Qtrs
Repayment of notes payable	`RepaymentsOfNotesPayable`	$70.00K	USD	15 Qtrs
Repayment of notes payable	`RepaymentsOfNotesPayable`	$70.00K	USD	Annual
Repayment of related party payables	`RepaymentsOfRelatedPartyDebt`	$42.19K	USD	15 Qtrs
Repayment of related party payables	`RepaymentsOfRelatedPartyDebt`	$40.50K	USD	Annual
Fees paid for financing costs	`PaymentsOfFinancingCosts`	$50.00K	USD	15 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$474.00K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.52M	USD	15 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$508.00K	USD	Annual
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$51.35K	USD	15 Qtrs
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$21.95K	USD	Annual
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-14.91K	USD	Annual
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$44.31K	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`	$51.35K	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`	$66.26K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$51.35K	USD	Point-in-time

Stockholders Equity 27 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-247.02K	USD	Point-in-time
Balance	`StockholdersEquity`	$-66.10K	USD	Point-in-time
Balance	`StockholdersEquity`	$35.37K	USD	Point-in-time
Balance	`StockholdersEquity`	$131.49K	USD	Point-in-time
Common stock issued for cash	`CommonStockIssuedForCash3`	250,000.00	shares	Annual
Common stock issued for cash	`CommonStockIssuedForCash3`	4,000.00	shares	Annual
Common stock issued for intangible asset	`StockIssuedDuringPeriodValuePurchaseOfAssets`	$2.50K	USD	Annual
Conversion of convertible notes payable and accrued interest	`StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments`	$162.00K	USD	Annual
Conversion of convertible notes payable and accrued interest	`StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments`	$109.44K	USD	Annual
Conversion of convertible notes payable and accrued interest	`StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments`	$513.68K	USD	Annual
Effect of reverse merger	`EffectOfReverseMerger`	$86.31K	USD	Annual
Common stock issued in connection with reverse merger	`StockIssuedDuringPeriodValueAcquisitions`	$495.04K	USD	Annual
Common stock issued for services	`ShareBasedCompensation`	$1.45M	USD	15 Qtrs
Common stock issued for services	`ShareBasedCompensation`	$409.33K	USD	Annual
Common stock issued for services	`ShareBasedCompensation`	$1.04M	USD	Annual
Beneficial conversion feature	`DebtInstrumentConvertibleBeneficialConversionFeature`	$56.33K	USD	Annual
Beneficial conversion feature	`DebtInstrumentConvertibleBeneficialConversionFeature`	$56.32K	USD	Annual
Acquisition of treasury stock	`TreasuryStockValueAcquiredCostMethod`	$26.25K	USD	Annual
Net loss	`NetIncomeLoss`	$-1.00M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.91M	USD	Annual
Net loss	`NetIncomeLoss`	$-755.27K	USD	Annual
Net loss	`NetIncomeLoss`	$-3.74M	USD	15 Qtrs
Net loss	`NetIncomeLoss`	$-67.10K	USD	3 Qtrs
Balance	`StockholdersEquity`	$-247.02K	USD	Point-in-time
Balance	`StockholdersEquity`	$-66.10K	USD	Point-in-time
Balance	`StockholdersEquity`	$35.37K	USD	Point-in-time
Balance	`StockholdersEquity`	$131.49K	USD	Point-in-time

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