10-Q Filing

Quest Resource Holding Corp CIK: 1442236 Q2 2015

Filing Information

Form Type	10-Q
Accession Number	`0001564590-15-007319`
Period End Date	20150630
Filing Date	20150814
Fiscal Year	2015
Fiscal Period	Q2
XBRL Instance	qrhc-20150630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 63 Income Statement 56 Cash Flow Statement 59 Stockholders Equity 13

Balance Sheet 63 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`	$537.77K	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.15M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$541.80K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.20M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.68M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	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
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $537,766 and $760,917 as of June 30, 2015 and December 31, 2014, respectively	`AccountsReceivableNetCurrent`	$29.63M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $537,766 and $760,917 as of June 30, 2015 and December 31, 2014, respectively	`AccountsReceivableNetCurrent`	$31.90M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$684.03K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.15M	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`	$33.60M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$33.47M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Goodwill	`Goodwill`	$58.34M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Goodwill	`Goodwill`	$58.34M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$13.79M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	1.19M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$15.12M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	111.71M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	111.60M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	111.71M	shares	Point-in-time
Property and equipment, net, and other assets	`PropertyPlantAndEquipmentNetIncludingDepositsAssetsNoncurrent`	$753.49K	USD	Point-in-time
Property and equipment, net, and other assets	`PropertyPlantAndEquipmentNetIncludingDepositsAssetsNoncurrent`	$850.40K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	111.60M	shares	Point-in-time
Total assets	`Assets`	$107.68M	USD	Point-in-time
Total assets	`Assets`	$106.58M	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$5.25M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$25.87M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$26.62M	USD	Point-in-time
Deferred revenue and other current liabilities	`DeferredCreditsAndOtherLiabilitiesCurrent`	$249.70K	USD	Point-in-time
Deferred revenue and other current liabilities	`DeferredCreditsAndOtherLiabilitiesCurrent`	$282.19K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$32.15M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$26.12M	USD	Point-in-time
Line of credit	`LongTermLineOfCredit`	$7.25M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$45.21K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$35.23K	USD	Point-in-time
Total liabilities	`Liabilities`	$33.40M	USD	Point-in-time
Total liabilities	`Liabilities`	$32.20M	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 June 30, 2015 and December 31, 2014, respectively	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value, 10,000,000 shares authorized, no shares issued or outstanding as of June 30, 2015 and December 31, 2014, respectively	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value, 200,000,000 shares authorized, 111,714,938 and 111,601,304 shares issued and outstanding as of June 30, 2015 and December 31, 2014, respectively	`CommonStockValue`	$111.60K	USD	Point-in-time
Common stock, $0.001 par value, 200,000,000 shares authorized, 111,714,938 and 111,601,304 shares issued and outstanding as of June 30, 2015 and December 31, 2014, respectively	`CommonStockValue`	$111.72K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$151.51M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$150.79M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-78.45M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-75.42M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$75.48M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$73.18M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$106.58M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$107.68M	USD	Point-in-time

Income Statement 56 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$42.33M	USD	1 Quarter
Revenue	`Revenues`	$82.34M	USD	2 Qtrs
Revenue	`Revenues`	$42.51M	USD	1 Quarter
Revenue	`Revenues`	$80.67M	USD	2 Qtrs
Cost of revenue	`CostOfGoodsSold`	$38.91M	USD	1 Quarter
Cost of revenue	`CostOfGoodsSold`	$73.83M	USD	2 Qtrs
Cost of revenue	`CostOfGoodsSold`	$39.01M	USD	1 Quarter
Cost of revenue	`CostOfGoodsSold`	$75.64M	USD	2 Qtrs
Gross profit	`GrossProfit`	$3.42M	USD	1 Quarter
Gross profit	`GrossProfit`	$6.84M	USD	2 Qtrs
Gross profit	`GrossProfit`	$6.70M	USD	2 Qtrs
Gross profit	`GrossProfit`	$3.51M	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$3.91M	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$3.49M	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$6.49M	USD	2 Qtrs
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$7.68M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$1.91M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$1.95M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$953.50K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$972.33K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$8.39M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$4.88M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$9.63M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$4.45M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-936.29K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-1.55M	USD	2 Qtrs
Operating loss	`OperatingIncomeLoss`	$-2.93M	USD	2 Qtrs
Operating loss	`OperatingIncomeLoss`	$-1.46M	USD	1 Quarter
Interest expense	`InterestExpense`	$1.77M	USD	2 Qtrs
Interest expense	`InterestExpense`	$42.24K	USD	1 Quarter
Interest expense	`InterestExpense`	$890.45K	USD	1 Quarter
Interest expense	`InterestExpense`	$90.83K	USD	2 Qtrs
Total other expense	`OtherExpenses`	$42.24K	USD	1 Quarter
Total other expense	`OtherExpenses`	$890.45K	USD	1 Quarter
Total other expense	`OtherExpenses`	$90.83K	USD	2 Qtrs
Total other expense	`OtherExpenses`	$1.77M	USD	2 Qtrs
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.50M	USD	1 Quarter
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-3.02M	USD	2 Qtrs
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.83M	USD	1 Quarter
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-3.32M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.50M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.32M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-3.02M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.83M	USD	1 Quarter
Net loss applicable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.83M	USD	1 Quarter
Net loss applicable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.50M	USD	1 Quarter
Net loss applicable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-3.02M	USD	2 Qtrs
Net loss applicable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-3.32M	USD	2 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	2 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	2 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	96.24M	shares	2 Qtrs
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	111.69M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	111.65M	shares	2 Qtrs
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	96.65M	shares	1 Quarter

Cash Flow Statement 59 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.50M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.32M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-3.02M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.83M	USD	1 Quarter
Depreciation	`Depreciation`	$146.38K	USD	2 Qtrs
Depreciation	`Depreciation`	$70.33K	USD	1 Quarter
Depreciation	`Depreciation`	$72.89K	USD	1 Quarter
Depreciation	`Depreciation`	$142.46K	USD	2 Qtrs
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$1.76M	USD	2 Qtrs
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$902.00K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$880.61K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$1.81M	USD	2 Qtrs
Amortization of debt discount and deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$908.30K	USD	2 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$41.34K	USD	2 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$2.97K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$625.51K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$580.57K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.28M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$3.41M	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$304.61K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$468.44K	USD	2 Qtrs
Security deposits and other assets	`IncreaseDecreaseInSecurityDepositsAndOtherAssets`	$7.99K	USD	2 Qtrs
Security deposits and other assets	`IncreaseDecreaseInSecurityDepositsAndOtherAssets`	$15.72K	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-718.73K	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-501.33K	USD	2 Qtrs
Deferred revenue and other current liabilities	`IncreaseDecreaseInDeferredRevenueAndOtherCurrentLiabilities`	$-32.49K	USD	2 Qtrs
Deferred revenue and other current liabilities	`IncreaseDecreaseInDeferredRevenueAndOtherCurrentLiabilities`	$247.06K	USD	2 Qtrs
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$1.36K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-3.95M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-3.87M	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$52.55K	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$235.30K	USD	2 Qtrs
Purchase of capitalized software development	`PaymentsToDevelopSoftware`	$437.84K	USD	2 Qtrs
Purchase of capitalized software development	`PaymentsToDevelopSoftware`	$481.60K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-490.39K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-716.90K	USD	2 Qtrs
Proceeds from line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$2.50M	USD	2 Qtrs
Proceeds from line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$2.00M	USD	2 Qtrs
Proceeds from the sale of capital stock	`ProceedsFromIssuanceOfCommonStock`	$2.38M	USD	2 Qtrs
Proceeds from the sale of capital stock	`ProceedsFromIssuanceOfCommonStock`	$60.70K	USD	2 Qtrs
Repayments of capital lease obligations	`RepaymentsOfDebtAndCapitalLeaseObligations`	$7.95K	USD	2 Qtrs
Repayments of capital lease obligations	`RepaymentsOfDebtAndCapitalLeaseObligations`	$11.33K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$4.88M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$2.05M	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.61M	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$519.89K	USD	2 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.15M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$541.80K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.20M	USD	Point-in-time
Cash and cash equivalents at beginning 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`	$541.80K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.20M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.68M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$732.02K	USD	2 Qtrs
Cash paid for interest	`InterestPaidNet`	$96.46K	USD	2 Qtrs
Common stock issued for services and loan fees	`ConversionOfStockAmountIssued1`	$33.33K	USD	2 Qtrs
Warrant liability issued for services	`WarrantLiabilityIssuedForServices`	$26.83K	USD	2 Qtrs
Warrant liability issued for services	`WarrantLiabilityIssuedForServices`	$34.86K	USD	2 Qtrs

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$75.48M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$73.18M	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$660.37K	USD	2 Qtrs
Shares issued for vested restricted stock units, Shares	`StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures`	56,500.00	shares	2 Qtrs
Shares issued for Employee Stock Purchase Plan options, Value	`StockIssuedDuringPeriodValueEmployeeStockPurchasePlan`	$60.70K	USD	2 Qtrs
Shares issued for Employee Stock Purchase Plan options, Shares	`StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans`	57,134.00	shares	2 Qtrs
Shares issued for Employee Stock Purchase Plan options, Shares	`StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans`	57,134.00	shares	Point-in-time
Net loss	`NetIncomeLoss`	$-1.50M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.32M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-3.02M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.83M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$75.48M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$73.18M	USD	Point-in-time

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