10-Q Filing

Quest Resource Holding Corp CIK: 1442236 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001564590-16-019540`
Period End Date	20160331
Filing Date	20160516
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	qrhc-20160331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 28 Cash Flow Statement 49 Stockholders Equity 9

Balance Sheet 62 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$705.49K	USD	Point-in-time
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$586.94K	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`	$3.15M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.91M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.31M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.99M	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 $705,486 and $586,941 as of March 31, 2016 and December 31, 2015, respectively	`AccountsReceivableNetCurrent`	$33.30M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $705,486 and $586,941 as of March 31, 2016 and December 31, 2015, respectively	`AccountsReceivableNetCurrent`	$35.12M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$946.91K	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`	$967.93K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$40.00M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$37.24M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Goodwill	`Goodwill`	$58.34M	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 issued	`CommonStockSharesIssued`	111.79M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$11.07M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	118.68M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$11.83M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	111.79M	shares	Point-in-time
Property and equipment, net, and other assets	`PropertyPlantAndEquipmentNetIncludingDepositsAssetsNoncurrent`	$1.61M	USD	Point-in-time
Property and equipment, net, and other assets	`PropertyPlantAndEquipmentNetIncludingDepositsAssetsNoncurrent`	$1.65M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	118.68M	shares	Point-in-time
Total assets	`Assets`	$109.01M	USD	Point-in-time
Total assets	`Assets`	$111.06M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$34.85M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$36.12M	USD	Point-in-time
Deferred revenue and other current liabilities	`DeferredCreditsAndOtherLiabilitiesCurrent`	$433.62K	USD	Point-in-time
Deferred revenue and other current liabilities	`DeferredCreditsAndOtherLiabilitiesCurrent`	$328.83K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$36.56M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$35.18M	USD	Point-in-time
Line of credit	`LongTermLineOfCredit`	$3.50M	USD	Point-in-time
Line of credit	`LongTermLineOfCredit`	$4.00M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$324.30K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$341.14K	USD	Point-in-time
Total liabilities	`Liabilities`	$39.52M	USD	Point-in-time
Total liabilities	`Liabilities`	$40.38M	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 March 31, 2016 and December 31, 2015, respectively	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value, 10,000,000 shares authorized, no shares issued or outstanding as of March 31, 2016 and December 31, 2015, respectively	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value, 200,000,000 shares authorized, 118,678,225 and 111,788,225 shares issued and outstanding as of March 31, 2016 and December 31, 2015, respectively	`CommonStockValue`	$118.68K	USD	Point-in-time
Common stock, $0.001 par value, 200,000,000 shares authorized, 118,678,225 and 111,788,225 shares issued and outstanding as of March 31, 2016 and December 31, 2015, respectively	`CommonStockValue`	$111.79K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$155.67M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$152.25M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-82.87M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-85.11M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$69.49M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$70.68M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$111.06M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$109.01M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$40.01M	USD	1 Quarter
Revenue	`Revenues`	$45.77M	USD	1 Quarter
Cost of revenue	`CostOfGoodsSold`	$36.72M	USD	1 Quarter
Cost of revenue	`CostOfGoodsSold`	$42.28M	USD	1 Quarter
Gross profit	`GrossProfit`	$3.49M	USD	1 Quarter
Gross profit	`GrossProfit`	$3.29M	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$3.78M	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$4.66M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$979.14K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$1.02M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$4.76M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$5.67M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-2.19M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-1.47M	USD	1 Quarter
Interest expense	`InterestExpense`	$48.60K	USD	1 Quarter
Interest expense	`InterestExpense`	$56.59K	USD	1 Quarter
Total other expense	`OtherExpenses`	$56.59K	USD	1 Quarter
Total other expense	`OtherExpenses`	$48.60K	USD	1 Quarter
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.52M	USD	1 Quarter
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.24M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.24M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.52M	USD	1 Quarter
Net loss applicable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-2.24M	USD	1 Quarter
Net loss applicable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.52M	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	111.86M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	111.62M	shares	1 Quarter

Cash Flow Statement 49 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.24M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.52M	USD	1 Quarter
Depreciation	`Depreciation`	$108.92K	USD	1 Quarter
Depreciation	`Depreciation`	$76.05K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$919.07K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$903.09K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$141.55K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$538.70K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$285.16K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.01M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.97M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$21.02K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$67.98K	USD	1 Quarter
Security deposits and other assets	`IncreaseDecreaseInSecurityDepositsAndOtherAssets`	$12.68K	USD	1 Quarter
Security deposits and other assets	`IncreaseDecreaseInSecurityDepositsAndOtherAssets`	$-34.18K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-236.85K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.28M	USD	1 Quarter
Deferred revenue and other current liabilities	`IncreaseDecreaseInDeferredRevenueAndOtherCurrentLiabilities`	$41.33K	USD	1 Quarter
Deferred revenue and other current liabilities	`IncreaseDecreaseInDeferredRevenueAndOtherCurrentLiabilities`	$101.84K	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-6.28K	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$4.56K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-1.12M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$483.61K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$170.14K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$162.30K	USD	1 Quarter
Purchase of capitalized software development	`PaymentsToDevelopSoftware`	$150.84K	USD	1 Quarter
Purchase of capitalized software development	`PaymentsToDevelopSoftware`	$161.07K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-320.98K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-323.37K	USD	1 Quarter
Proceeds from line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$5.25M	USD	1 Quarter
Repayments to line of credit	`RepaymentsOfLinesOfCredit`	$5.75M	USD	1 Quarter
Proceeds from the sale of common stock and warrants, net of issuance costs	`ProceedsFromSalesOfCommonStockAndWarrantsNetOfIssuanceCosts`	$2.89M	USD	1 Quarter
Repayments of capital lease obligations	`RepaymentsOfDebtAndCapitalLeaseObligations`	$29.46K	USD	1 Quarter
Repayments of capital lease obligations	`RepaymentsOfDebtAndCapitalLeaseObligations`	$5.64K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-5.64K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$2.36M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$920.33K	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$157.00K	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.15M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.91M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.31M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.99M	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`	$3.91M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.31M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.99M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$55.10K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$48.52K	USD	1 Quarter
Acquisition of equipment under capital leases	`NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1`	$21.84K	USD	1 Quarter

Stockholders Equity 9 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$69.49M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$70.68M	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$538.70K	USD	1 Quarter
Sale of common stock and warrants, net of issuance costs, Value	`StockAndWarrantsIssuedDuringPeriodValueNetOfIssuanceCosts`	$2.89M	USD	1 Quarter
Sale of common stock and warrants, net of issuance costs, Shares	`StockIssuedDuringPeriodSharesNewIssues`	6.89M	shares	1 Quarter
Net loss	`NetIncomeLoss`	$-2.24M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.52M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$69.49M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$70.68M	USD	Point-in-time

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