10-K Filing

Quest Resource Holding Corp CIK: 1442236 FY 2014

Filing Information

Form Type	10-K
Accession Number	`0001564590-15-002266`
Period End Date	20141231
Filing Date	20150331
Fiscal Year	2014
Fiscal Period	FY
XBRL Instance	qrhc-20141231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 38 Cash Flow Statement 61 Stockholders Equity 21

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$760.92K	USD	Point-in-time
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$319.74K	USD	Point-in-time
Long-term senior secured convertible notes-related parties, net of discount	`SeniorSecuredConvertibleNoteRelatedPartyNetDiscount`	$4.66M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.68M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.15M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$485.73K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $760,917 and $319,735 as of December 31, 2014 and 2013, respectively	`AccountsReceivableNetCurrent`	$29.63M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $760,917 and $319,735 as of December 31, 2014 and 2013, respectively	`AccountsReceivableNetCurrent`	$20.85M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$684.03K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$404.79K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$33.47M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$23.93M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Goodwill	`Goodwill`	$58.34M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Goodwill	`Goodwill`	$58.34M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$17.64M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$15.12M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	95.81M	shares	Point-in-time
Property and equipment, net, and other assets	`PropertyPlantAndEquipmentNetIncludingDepositsAssetsNoncurrent`	$753.49K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	111.60M	shares	Point-in-time
Property and equipment, net, and other assets	`PropertyPlantAndEquipmentNetIncludingDepositsAssetsNoncurrent`	$741.38K	USD	Point-in-time
Total assets	`Assets`	$107.68M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	95.81M	shares	Point-in-time
Total assets	`Assets`	$100.65M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	111.60M	shares	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$5.25M	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$2.75M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$26.62M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$26.26M	USD	Point-in-time
Deferred revenue and other current liabilities	`DeferredCreditsAndOtherLiabilitiesCurrent`	$276.00K	USD	Point-in-time
Deferred revenue and other current liabilities	`DeferredCreditsAndOtherLiabilitiesCurrent`	$282.19K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$29.29M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$32.15M	USD	Point-in-time
Long-term senior secured convertible notes - related parties, net of $4,656,934 discount as of December 31, 2013	`NotesPayableRelatedPartiesCurrentAndNoncurrent`	$17.34M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$45.21K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$33.07K	USD	Point-in-time
Total liabilities	`Liabilities`	$32.20M	USD	Point-in-time
Total liabilities	`Liabilities`	$46.67M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.001 par value, 10,000,000 shares authorized, no shares issued or outstanding as of December 31, 2014 and 2013	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value, 10,000,000 shares authorized, no shares issued or outstanding as of December 31, 2014 and 2013	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value, 200,000,000 shares authorized, 111,601,304 and 95,814,565 shares issued and outstanding as of December 31, 2014 and 2013, respectively	`CommonStockValue`	$95.81K	USD	Point-in-time
Common stock, $0.001 par value, 200,000,000 shares authorized, 111,601,304 and 95,814,565 shares issued and outstanding as of December 31, 2014 and 2013, respectively	`CommonStockValue`	$111.60K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$150.79M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$119.41M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-75.42M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-65.53M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$53.98M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$75.48M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$-16.96M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$100.65M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$107.68M	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$174.45M	USD	Annual
Revenue	`Revenues`	$67.50M	USD	Annual
Cost of revenue	`CostOfGoodsSold`	$160.19M	USD	Annual
Cost of revenue	`CostOfGoodsSold`	$62.43M	USD	Annual
Gross profit	`GrossProfit`	$5.07M	USD	Annual
Gross profit	`GrossProfit`	$14.27M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$12.66M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$14.38M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$1.82M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$3.83M	USD	Annual
Gain on equity interest in Quest Resource Management Group, LLC	`UnrealizedGainOnSecurities`	$23.45M	USD	Annual
Impairment of goodwill	`GoodwillImpairmentLoss`	-	USD	1 Quarter
Impairment of goodwill	`GoodwillImpairmentLoss`	$26.85M	USD	Annual
Total operating expenses	`OperatingExpenses`	$18.21M	USD	Annual
Total operating expenses	`OperatingExpenses`	$17.88M	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-3.94M	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-12.81M	USD	Annual
Interest expense	`InterestExpense`	$101.26K	USD	Point-in-time
Interest expense	`InterestExpense`	$4.20M	USD	Annual
Interest expense	`InterestExpense`	$4.30M	USD	Annual
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-1.66M	USD	Annual
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$1.66M	USD	Point-in-time
Financing cost for senior convertible note - related parties	`NoncashInterestExpense`	$1.47M	USD	Annual
Total other expense, net	`OtherExpenses`	$5.95M	USD	Annual
Total other expense, net	`OtherExpenses`	$5.66M	USD	Annual
Loss before taxes and equity income	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-18.47M	USD	Annual
Loss before taxes and equity income	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-9.90M	USD	Annual
Equity in Quest Resource Management Group, LLC income	`IncomeLossFromEquityMethodInvestments`	$667.32K	USD	Annual
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-9.90M	USD	Annual
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-17.80M	USD	Annual
Net loss	`NetIncomeLoss`	$-9.90M	USD	Annual
Net loss	`NetIncomeLoss`	$-17.80M	USD	Annual
Net loss applicable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-9.90M	USD	Annual
Net loss applicable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-17.80M	USD	Annual
Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.10	USD	Annual
Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.23	USD	Annual
Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	100.55M	shares	Annual
Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	77.06M	shares	Annual

Cash Flow Statement 61 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-9.90M	USD	Annual
Net loss	`NetIncomeLoss`	$-17.80M	USD	Annual
Depreciation	`Depreciation`	$209.38K	USD	Annual
Depreciation	`Depreciation`	$292.07K	USD	Annual
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$1.61M	USD	Annual
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$3.54M	USD	Annual
Amortization of debt discount and deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$3.00M	USD	Annual
Amortization of debt discount and deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$3.30M	USD	Annual
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-1.66M	USD	Annual
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$1.66M	USD	Point-in-time
Interest converted to common stock	`PaidInKindInterest`	$105.26K	USD	Annual
Loss on sale/disposition of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$9.25K	USD	Annual
Equity in Quest Resource Management Group, LLC income	`IncomeLossFromEquityMethodInvestments`	$667.32K	USD	Annual
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$89.00K	USD	Annual
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$441.34K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$2.39M	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$1.55M	USD	Annual
Financing costs for senior convertible note - related parties	`NoncashInterestExpense`	$1.47M	USD	Annual
Gain on equity interest in Quest Resource Management Group, LLC	`GainOnAcquisitionAssets`	$23.45M	USD	Annual
Impairment of goodwill	`GoodwillImpairmentLoss`	-	USD	1 Quarter
Impairment of goodwill	`GoodwillImpairmentLoss`	$26.85M	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$5.25M	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$9.22M	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-42.05K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$279.24K	USD	Annual
Security deposits and other assets	`IncreaseDecreaseInSecurityDepositsAndOtherAssets`	$-80.20K	USD	Annual
Security deposits and other assets	`IncreaseDecreaseInSecurityDepositsAndOtherAssets`	$123.76K	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$6.63M	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$358.38K	USD	Annual
Deferred revenue and other current liabilities	`IncreaseDecreaseInDeferredRevenueAndOtherCurrentLiabilities`	$68.54K	USD	Annual
Deferred revenue and other current liabilities	`IncreaseDecreaseInDeferredRevenueAndOtherCurrentLiabilities`	$-3.66K	USD	Annual
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$32.15K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-8.56M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-4.44M	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$65.11K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$180.42K	USD	Annual
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$22.79K	USD	Annual
Capitalized software development	`PaymentsToDevelopSoftware`	$839.61K	USD	Annual
Acquisition of customer lists	`OtherPaymentsToAcquireBusinesses`	$150.00K	USD	Annual
Purchase of interest Quest Resource Management Group, LLC	`PaymentsToAcquireInterestInSubsidiariesAndAffiliates`	$-4.24M	USD	Annual
Distributions received from Quest Resource Management Group, LLC	`ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital`	$1.11M	USD	Annual
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$5.16M	USD	Annual
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-1.02M	USD	Annual
Proceeds from senior related party secured convertible note	`ProceedsFromConvertibleDebt`	$1.00M	USD	Annual
Proceeds from line of credit	`ProceedsFromLinesOfCredit`	$500.00K	USD	Annual
Proceeds from line of credit	`ProceedsFromLinesOfCredit`	$2.50M	USD	Annual
Proceeds from sale of capital stock, net of issuance costs	`ProceedsFromIssuanceOfCommonStock`	$18.58M	USD	Annual
Repayments of notes payable	`ProceedsFromRepaymentsOfNotesPayable`	$33.07K	USD	Annual
Repayments capital lease obligations	`RepaymentsOfDebtAndCapitalLeaseObligations`	$56.03K	USD	Annual
Repayments capital lease obligations	`RepaymentsOfDebtAndCapitalLeaseObligations`	$20.02K	USD	Annual
Repayments of senior convertible notes related party	`RepaymentsOfSeniorDebt`	$11.00M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$10.06M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$1.48M	USD	Annual
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$477.56K	USD	Annual
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.19M	USD	Annual
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.68M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.15M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$485.73K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.68M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.15M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$485.73K	USD	Point-in-time

Stockholders Equity 21 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$53.98M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$75.48M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$-16.96M	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.64M	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$2.19M	USD	Annual
Sale of common stock and warrants, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$18.58M	USD	Annual
Sale of common stock and warrants, net of issuance costs, Shares	`StockIssuedDuringPeriodSharesNewIssues`	10.19M	shares	Annual
Discount senior secured convertible note related parties	`NonCashDiscountOnConvertibleNotes`	$6.50M	USD	Annual
Common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$198.86K	USD	Annual
Common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$50.00K	USD	Annual
Common stock issued for services, Shares	`StockIssuedDuringPeriodSharesIssuedForServices`	20,408.00	shares	Annual
Common stock issued for Quest Resource Management Group, LLC	`CommonStockValueIssuedForAcquisitionOfBusiness`	$55.00M	USD	Annual
Note conversions, accrued interest and discounts conversions	`StockIssuedDuringPeriodValueConversionOfUnits`	$3.15M	USD	Annual
Note conversions, accrued interest and discounts conversions	`StockIssuedDuringPeriodValueConversionOfUnits`	$11.13M	USD	Annual
Note conversions, accrued interest and discounts conversions, Shares	`StockIssuedDuringPeriodSharesConversionOfUnits`	5.57M	shares	Annual
Warrant conversions	`CommonStockIssuedForWarrantsExercised`	$21.70M	USD	Annual
Net loss	`NetIncomeLoss`	$-9.90M	USD	Annual
Net loss	`NetIncomeLoss`	$-17.80M	USD	Annual
Ending Balance	`StockholdersEquity`	$53.98M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$75.48M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$-16.96M	USD	Point-in-time

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