10-Q Filing

Quest Resource Holding Corp CIK: 1442236 Q3 2015

Filing Information

Form Type	10-Q
Accession Number	`0001564590-15-010805`
Period End Date	20150930
Filing Date	20151116
Fiscal Year	2015
Fiscal Period	Q3
XBRL Instance	qrhc-20150930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 59 Cash Flow Statement 69 Stockholders Equity 13

Balance Sheet 62 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`	$535.29K	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
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.69M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.05M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.15M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.68M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $535,289 and $760,917 as of September 30, 2015 and December 31, 2014, respectively	`AccountsReceivableNetCurrent`	$29.63M	USD	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 $535,289 and $760,917 as of September 30, 2015 and December 31, 2014, respectively	`AccountsReceivableNetCurrent`	$29.79M	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`	$1.27M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$33.47M	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`	$36.11M	USD	Point-in-time
Goodwill	`Goodwill`	$58.34M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	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`	$13.13M	USD	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`	111.60M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	111.71M	shares	Point-in-time
Property and equipment, net, and other assets	`PropertyPlantAndEquipmentNetIncludingDepositsAssetsNoncurrent`	$1.46M	USD	Point-in-time
Property and equipment, net, and other assets	`PropertyPlantAndEquipmentNetIncludingDepositsAssetsNoncurrent`	$753.49K	USD	Point-in-time
Total assets	`Assets`	$109.04M	USD	Point-in-time
Total assets	`Assets`	$107.68M	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$5.25M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$33.86M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$26.62M	USD	Point-in-time
Deferred revenue and other current liabilities	`DeferredCreditsAndOtherLiabilitiesCurrent`	$282.19K	USD	Point-in-time
Deferred revenue and other current liabilities	`DeferredCreditsAndOtherLiabilitiesCurrent`	$249.23K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$34.11M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$32.15M	USD	Point-in-time
Line of credit	`LongTermLineOfCredit`	$3.00M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$105.78K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$45.21K	USD	Point-in-time
Total liabilities	`Liabilities`	$32.20M	USD	Point-in-time
Total liabilities	`Liabilities`	$37.22M	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 September 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 September 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 September 30, 2015 and December 31, 2014, respectively	`CommonStockValue`	$111.72K	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 September 30, 2015 and December 31, 2014, respectively	`CommonStockValue`	$111.60K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$150.79M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$151.82M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-75.42M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-80.10M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$71.83M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$75.48M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$109.04M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$107.68M	USD	Point-in-time

Income Statement 59 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$125.91M	USD	3 Qtrs
Revenue	`Revenues`	$46.98M	USD	1 Quarter
Revenue	`Revenues`	$127.66M	USD	3 Qtrs
Revenue	`Revenues`	$43.57M	USD	1 Quarter
Cost of revenue	`CostOfGoodsSold`	$116.96M	USD	3 Qtrs
Cost of revenue	`CostOfGoodsSold`	$115.69M	USD	3 Qtrs
Cost of revenue	`CostOfGoodsSold`	$43.13M	USD	1 Quarter
Cost of revenue	`CostOfGoodsSold`	$40.05M	USD	1 Quarter
Gross profit	`GrossProfit`	$10.22M	USD	3 Qtrs
Gross profit	`GrossProfit`	$3.52M	USD	1 Quarter
Gross profit	`GrossProfit`	$10.69M	USD	3 Qtrs
Gross profit	`GrossProfit`	$3.85M	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$11.79M	USD	3 Qtrs
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$3.49M	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$9.97M	USD	3 Qtrs
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$4.11M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$956.82K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$2.86M	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$2.94M	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$989.11K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$5.10M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$14.73M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$12.83M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$4.44M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-1.58M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-2.14M	USD	3 Qtrs
Operating loss	`OperatingIncomeLoss`	$-4.51M	USD	3 Qtrs
Operating loss	`OperatingIncomeLoss`	$-592.29K	USD	1 Quarter
Interest expense	`InterestExpense`	$163.59K	USD	3 Qtrs
Interest expense	`InterestExpense`	$4.26M	USD	3 Qtrs
Interest expense	`InterestExpense`	$2.49M	USD	1 Quarter
Interest expense	`InterestExpense`	$72.76K	USD	1 Quarter
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-1.66M	USD	3 Qtrs
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$1.66M	USD	Point-in-time
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-1.66M	USD	1 Quarter
Total other expense	`OtherExpenses`	$72.76K	USD	1 Quarter
Total other expense	`OtherExpenses`	$4.15M	USD	1 Quarter
Total other expense	`OtherExpenses`	$163.59K	USD	3 Qtrs
Total other expense	`OtherExpenses`	$5.92M	USD	3 Qtrs
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.68M	USD	3 Qtrs
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-8.06M	USD	3 Qtrs
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.65M	USD	1 Quarter
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.74M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.65M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.68M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-4.74M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.06M	USD	3 Qtrs
Net loss applicable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.65M	USD	1 Quarter
Net loss applicable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-4.68M	USD	3 Qtrs
Net loss applicable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-8.06M	USD	3 Qtrs
Net loss applicable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-4.74M	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.08	USD	3 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.05	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.04	USD	3 Qtrs
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	111.71M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	98.00M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	96.83M	shares	3 Qtrs
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	111.67M	shares	3 Qtrs

Cash Flow Statement 69 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.65M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.68M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-4.74M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.06M	USD	3 Qtrs
Depreciation	`Depreciation`	$218.22K	USD	3 Qtrs
Depreciation	`Depreciation`	$223.50K	USD	3 Qtrs
Depreciation	`Depreciation`	$71.84K	USD	1 Quarter
Depreciation	`Depreciation`	$81.04K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$875.74K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$2.64M	USD	3 Qtrs
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$2.72M	USD	3 Qtrs
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$917.26K	USD	1 Quarter
Amortization of debt discount and deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$3.00M	USD	3 Qtrs
Amortization of debt discount and deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	-	USD	3 Qtrs
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-1.66M	USD	3 Qtrs
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$1.66M	USD	Point-in-time
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-1.66M	USD	1 Quarter
Interest converted to common stock	`PaidInKindInterest`	$105.26K	USD	3 Qtrs
Loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-2.05K	USD	3 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$3.97K	USD	3 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$41.18K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.12M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$931.87K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$7.23M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$157.70K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$163.11K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$586.50K	USD	3 Qtrs
Security deposits and other assets	`IncreaseDecreaseInSecurityDepositsAndOtherAssets`	$15.72K	USD	3 Qtrs
Security deposits and other assets	`IncreaseDecreaseInSecurityDepositsAndOtherAssets`	$-9.71K	USD	3 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.50M	USD	3 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$7.27M	USD	3 Qtrs
Deferred revenue and other current liabilities	`IncreaseDecreaseInDeferredRevenueAndOtherCurrentLiabilities`	$76.78K	USD	3 Qtrs
Deferred revenue and other current liabilities	`IncreaseDecreaseInDeferredRevenueAndOtherCurrentLiabilities`	$-73.78K	USD	3 Qtrs
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$21.75K	USD	3 Qtrs
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$1.55K	USD	3 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$5.67M	USD	3 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-5.08M	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$103.12K	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$819.61K	USD	3 Qtrs
Purchase of capitalized software development	`PaymentsToDevelopSoftware`	$740.57K	USD	3 Qtrs
Purchase of capitalized software development	`PaymentsToDevelopSoftware`	$859.26K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-1.56M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-962.38K	USD	3 Qtrs
Proceeds from line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$4.45M	USD	3 Qtrs
Proceeds from line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$2.50M	USD	3 Qtrs
Repayments to line of credit	`RepaymentsOfLinesOfCredit`	$6.70M	USD	3 Qtrs
Proceeds from the sale of capital stock	`ProceedsFromIssuanceOfCommonStock`	$18.57M	USD	3 Qtrs
Proceeds from the sale of capital stock	`ProceedsFromIssuanceOfCommonStock`	$60.70K	USD	3 Qtrs
Repayments of capital lease obligations	`RepaymentsOfDebtAndCapitalLeaseObligations`	$20.09K	USD	3 Qtrs
Repayments of capital lease obligations	`RepaymentsOfDebtAndCapitalLeaseObligations`	$14.60K	USD	3 Qtrs
Repayment of senior convertible notes - related party	`RepaymentsOfSeniorDebt`	$11.00M	USD	3 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-2.21M	USD	3 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$10.06M	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$4.01M	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.90M	USD	3 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.69M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.05M	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`	$2.68M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$6.69M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.05M	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`	$2.68M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$166.03K	USD	3 Qtrs
Cash paid for interest	`InterestPaidNet`	$1.15M	USD	3 Qtrs
Common stock issued for services and loan fees	`ConversionOfStockAmountIssued1`	$50.00K	USD	3 Qtrs
Warrant liability issued for services	`WarrantLiabilityIssuedForServices`	$26.83K	USD	3 Qtrs
Warrant liability issued for services	`WarrantLiabilityIssuedForServices`	$34.86K	USD	3 Qtrs
Acquisition of equipment under capital lease	`NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1`	$119.92K	USD	3 Qtrs

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$71.83M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$75.48M	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$966.73K	USD	3 Qtrs
Shares issued for vested restricted stock units, Shares	`StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures`	56,500.00	shares	3 Qtrs
Shares issued for Employee Stock Purchase Plan options, Value	`StockIssuedDuringPeriodValueEmployeeStockPurchasePlan`	$60.70K	USD	3 Qtrs
Shares issued for Employee Stock Purchase Plan options, Shares	`StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans`	57,134.00	shares	3 Qtrs
Shares issued for Employee Stock Purchase Plan options, Shares	`StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans`	57,134.00	shares	Point-in-time
Net loss	`NetIncomeLoss`	$-1.65M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.68M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-4.74M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.06M	USD	3 Qtrs
Ending Balance	`StockholdersEquity`	$71.83M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$75.48M	USD	Point-in-time

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