10-Q Filing

Quest Resource Holding Corp CIK: 1442236 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001564590-18-013616`
Period End Date	20180331
Filing Date	20180515
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	qrhc-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 28 Cash Flow Statement 54 Stockholders Equity 7

Balance Sheet 62 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$699.10K	USD	Point-in-time
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$470.65K	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`	$1.08M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.06M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.33M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.13M	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
Accounts receivable, less allowance for doubtful accounts of $470,652 and $699,102 as of March 31, 2018 and December 31, 2017, respectively	`AccountsReceivableNetCurrent`	$17.18M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $470,652 and $699,102 as of March 31, 2018 and December 31, 2017, respectively	`AccountsReceivableNetCurrent`	$16.26M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.51M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.55M	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
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$19.82M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$18.83M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Goodwill	`Goodwill`	$58.21M	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`	15.30M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	15.30M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$5.03M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$4.04M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	15.30M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	15.30M	shares	Point-in-time
Property and equipment, net, and other assets	`PropertyPlantAndEquipmentNetIncludingDepositsAssetsNoncurrent`	$1.32M	USD	Point-in-time
Property and equipment, net, and other assets	`PropertyPlantAndEquipmentNetIncludingDepositsAssetsNoncurrent`	$1.34M	USD	Point-in-time
Total assets	`Assets`	$83.41M	USD	Point-in-time
Total assets	`Assets`	$83.52M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$14.25M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$17.08M	USD	Point-in-time
Deferred revenue and other current liabilities	`DeferredCreditsAndOtherLiabilitiesCurrent`	$162.28K	USD	Point-in-time
Deferred revenue and other current liabilities	`DeferredCreditsAndOtherLiabilitiesCurrent`	$328.76K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$17.24M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$14.58M	USD	Point-in-time
Revolving credit facility, net	`LongTermLineOfCredit`	$6.76M	USD	Point-in-time
Revolving credit facility, net	`LongTermLineOfCredit`	$5.10M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$8.81K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$21.99K	USD	Point-in-time
Total liabilities	`Liabilities`	$22.35M	USD	Point-in-time
Total liabilities	`Liabilities`	$21.37M	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, 2018 and December 31, 2017, 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, 2018 and December 31, 2017, respectively	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value, 200,000,000 shares authorized, 15,302,455 shares issued and outstanding as of March 31, 2018 and December 31, 2017	`CommonStockValue`	$15.30K	USD	Point-in-time
Common stock, $0.001 par value, 200,000,000 shares authorized, 15,302,455 shares issued and outstanding as of March 31, 2018 and December 31, 2017	`CommonStockValue`	$15.30K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$159.09M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$158.87M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-98.05M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-96.74M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$62.15M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$61.06M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$83.41M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$83.52M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$24.70M	USD	1 Quarter
Revenue	`Revenues`	$42.54M	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$21.15M	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$38.35M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.19M	USD	1 Quarter
Gross profit	`GrossProfit`	$3.55M	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$4.98M	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$3.75M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$984.58K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$1.00M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$4.74M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$5.98M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-1.80M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-1.19M	USD	1 Quarter
Interest expense	`InterestExpense`	$114.28K	USD	1 Quarter
Interest expense	`InterestExpense`	$124.00K	USD	1 Quarter
Total other expense	`OtherExpenses`	$124.00K	USD	1 Quarter
Total other expense	`OtherExpenses`	$114.28K	USD	1 Quarter
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.31M	USD	1 Quarter
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.91M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.91M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.31M	USD	1 Quarter
Net loss applicable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.31M	USD	1 Quarter
Net loss applicable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.91M	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.13	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.09	USD	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	15.30M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	15.27M	shares	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.91M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.31M	USD	1 Quarter
Depreciation	`Depreciation`	$103.31K	USD	1 Quarter
Depreciation	`Depreciation`	$115.25K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$926.56K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$926.57K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$23.48K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$7.83K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$39.91K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$100.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$224.12K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$614.26K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$960.51K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.92M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$41.55K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-84.91K	USD	1 Quarter
Security deposits and other assets	`IncreaseDecreaseInSecurityDepositsAndOtherAssets`	$-193.33K	USD	1 Quarter
Security deposits and other assets	`IncreaseDecreaseInSecurityDepositsAndOtherAssets`	$-128.78K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-4.17M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$2.82M	USD	1 Quarter
Deferred revenue and other liabilities	`IncreaseDecreaseInDeferredRevenueAndOtherLiabilities`	$-166.70K	USD	1 Quarter
Deferred revenue and other liabilities	`IncreaseDecreaseInDeferredRevenueAndOtherLiabilities`	$-324.00	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-2.12M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$1.79M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$19.95K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$9.37K	USD	1 Quarter
Purchase of capitalized software development	`PaymentsToAcquireIntangibleAssets`	$89.23K	USD	1 Quarter
Purchase of capitalized software development	`PaymentsToAcquireIntangibleAssets`	$50.92K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-109.18K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-60.29K	USD	1 Quarter
Proceeds from credit facilities	`ProceedsFromRepaymentsOfLinesOfCredit`	$21.94M	USD	1 Quarter
Proceeds from credit facilities	`ProceedsFromRepaymentsOfLinesOfCredit`	$6.72M	USD	1 Quarter
Repayments of credit facilities	`RepaymentsOfLinesOfCredit`	$3.43M	USD	1 Quarter
Repayments of credit facilities	`RepaymentsOfLinesOfCredit`	$23.62M	USD	1 Quarter
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$234.52K	USD	1 Quarter
Repayments of capital lease obligations	`RepaymentsOfDebtAndCapitalLeaseObligations`	$22.17K	USD	1 Quarter
Repayments of capital lease obligations	`RepaymentsOfDebtAndCapitalLeaseObligations`	$12.96K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-1.70M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$3.03M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$28.29K	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`	$1.08M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.06M	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`	$2.13M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.08M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.06M	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`	$2.13M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$68.75K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$74.39K	USD	1 Quarter
Sale of goodwill and intangible assets	`ProceedsFromSaleOfGoodwillAndIntangibleAssetsNoncashOrPartialNoncashTransaction`	$246.59K	USD	1 Quarter
Investment in Earth Media Partners, LLC	`InvestmentInRelatedPartyNoncashOrPartialNoncashTransaction`	$246.59K	USD	1 Quarter
Repayment of Regions line of credit	`RepaymentsOfLineOfCreditNoncashOrPartialNoncashTransaction`	$-9.25M	USD	1 Quarter

Stockholders Equity 7 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$62.15M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$61.06M	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$224.12K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.91M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.31M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$62.15M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$61.06M	USD	Point-in-time

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