10-Q Filing

Quest Resource Holding Corp CIK: 1442236 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001564590-17-011034`
Period End Date	20170331
Filing Date	20170515
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	qrhc-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 29 Cash Flow Statement 57 Stockholders Equity 7

Balance Sheet 62 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$433.58K	USD	Point-in-time
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$333.58K	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`	$2.13M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.33M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.91M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.99M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $433,578 and $333,578 as of March 31, 2017 and December 31, 2016, respectively	`AccountsReceivableNetCurrent`	$32.81M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $433,578 and $333,578 as of March 31, 2017 and December 31, 2016, respectively	`AccountsReceivableNetCurrent`	$34.83M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.17M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.67M	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
Total current assets	`AssetsCurrent`	$38.83M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$37.11M	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
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
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$8.49M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	15.27M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$7.65M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	15.27M	shares	Point-in-time
Property and equipment, net, and other assets	`PropertyPlantAndEquipmentNetIncludingDepositsAssetsNoncurrent`	$2.13M	USD	Point-in-time
Property and equipment, net, and other assets	`PropertyPlantAndEquipmentNetIncludingDepositsAssetsNoncurrent`	$2.41M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	15.27M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	15.27M	shares	Point-in-time
Total assets	`Assets`	$105.22M	USD	Point-in-time
Total assets	`Assets`	$108.07M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$35.31M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$31.14M	USD	Point-in-time
Deferred revenue and other current liabilities	`DeferredCreditsAndOtherLiabilitiesCurrent`	$406.06K	USD	Point-in-time
Deferred revenue and other current liabilities	`DeferredCreditsAndOtherLiabilitiesCurrent`	$386.04K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$35.71M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$31.52M	USD	Point-in-time
Revolving credit facility, net	`LongTermLineOfCredit`	$4.75M	USD	Point-in-time
Revolving credit facility, net	`LongTermLineOfCredit`	$8.02M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$120.56K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$335.64K	USD	Point-in-time
Total liabilities	`Liabilities`	$40.80M	USD	Point-in-time
Total liabilities	`Liabilities`	$39.67M	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 March 31, 2017 and December 31, 2016, 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, 2017 and December 31, 2016, respectively	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value, 200,000,000 shares authorized, 15,272,575 shares issued and outstanding as of March 31, 2017 and December 31, 2016	`CommonStockValue`	$15.27K	USD	Point-in-time
Common stock, $0.001 par value, 200,000,000 shares authorized, 15,272,575 shares issued and outstanding as of March 31, 2017 and December 31, 2016	`CommonStockValue`	$15.27K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$158.17M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$158.37M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-90.91M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-92.82M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$65.56M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$67.27M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$105.22M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$108.07M	USD	Point-in-time

Income Statement 29 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$42.54M	USD	1 Quarter
Revenue	`Revenues`	$45.77M	USD	1 Quarter
Reverse stock split ratio of common stock	`StockholdersEquityNoteStockSplitConversionRatio1`	0.12	pure	Point-in-time
Cost of revenue	`CostOfGoodsSold`	$42.28M	USD	1 Quarter
Cost of revenue	`CostOfGoodsSold`	$38.35M	USD	1 Quarter
Gross profit	`GrossProfit`	$3.49M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.19M	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$4.98M	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$4.66M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$1.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$1.02M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$5.67M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$5.98M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-2.19M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-1.80M	USD	1 Quarter
Interest expense	`InterestExpense`	$56.59K	USD	1 Quarter
Interest expense	`InterestExpense`	$114.28K	USD	1 Quarter
Total other expense	`OtherExpenses`	$56.59K	USD	1 Quarter
Total other expense	`OtherExpenses`	$114.28K	USD	1 Quarter
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.24M	USD	1 Quarter
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.91M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.24M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.91M	USD	1 Quarter
Net loss applicable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.91M	USD	1 Quarter
Net loss applicable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-2.24M	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.16	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.13	USD	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	13.98M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	15.27M	shares	1 Quarter

Cash Flow Statement 57 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.24M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.91M	USD	1 Quarter
Depreciation	`Depreciation`	$108.92K	USD	1 Quarter
Depreciation	`Depreciation`	$115.25K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$926.56K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$919.07K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$7.83K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$141.55K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$100.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$538.70K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$614.26K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.92M	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`	$-84.91K	USD	1 Quarter
Security deposits and other assets	`IncreaseDecreaseInSecurityDepositsAndOtherAssets`	$-34.18K	USD	1 Quarter
Security deposits and other assets	`IncreaseDecreaseInSecurityDepositsAndOtherAssets`	$-193.33K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-4.17M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.28M	USD	1 Quarter
Deferred revenue and other current liabilities	`IncreaseDecreaseInDeferredRevenueAndOtherCurrentLiabilities`	$-18.98K	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`	$18.66K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-2.12M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-1.12M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$162.30K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$19.95K	USD	1 Quarter
Purchase of capitalized software development	`PaymentsToAcquireIntangibleAssets`	$89.23K	USD	1 Quarter
Purchase of capitalized software development	`PaymentsToAcquireIntangibleAssets`	$161.07K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-109.18K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-323.37K	USD	1 Quarter
Proceeds from credit facilities	`ProceedsFromRepaymentsOfLinesOfCredit`	$6.72M	USD	1 Quarter
Proceeds from credit facilities	`ProceedsFromRepaymentsOfLinesOfCredit`	$5.25M	USD	1 Quarter
Repayments of credit facilities	`RepaymentsOfLinesOfCredit`	$3.43M	USD	1 Quarter
Repayments of credit facilities	`RepaymentsOfLinesOfCredit`	$5.75M	USD	1 Quarter
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$234.52K	USD	1 Quarter
Proceeds from the sale of common stock and warrants, net of issuance costs	`ProceedsFromIssuanceOrSaleOfEquity`	$2.89M	USD	1 Quarter
Repayments of capital lease obligations	`RepaymentsOfDebtAndCapitalLeaseObligations`	$22.17K	USD	1 Quarter
Repayments of capital lease obligations	`RepaymentsOfDebtAndCapitalLeaseObligations`	$29.46K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$3.03M	USD	1 Quarter
Net cash provided by 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`	$799.80K	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.13M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.33M	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`	$2.99M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.13M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.33M	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`	$2.99M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$55.10K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$68.75K	USD	1 Quarter
Repayment of line of credit	`RepaymentsOfLineOfCreditNoncashOrPartialNoncashTransaction`	$9.25M	USD	1 Quarter
Repayment of capital lease obligation	`RepaymentsOfCapitalLeaseObligationNoncashOrPartialNoncashTransaction`	$212.61K	USD	1 Quarter
Debt issuance costs	`DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction`	$234.99K	USD	1 Quarter
Acquisition of equipment under capital leases	`NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1`	$21.84K	USD	1 Quarter

Stockholders Equity 7 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$65.56M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$67.27M	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$195.51K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.24M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.91M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$65.56M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$67.27M	USD	Point-in-time

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