10-Q Filing

Quest Resource Holding Corp CIK: 1442236 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001564590-20-025455`
Period End Date	20200331
Filing Date	20200514
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	qrhc-20200331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 32 Cash Flow Statement 49 Stockholders Equity 12

Balance Sheet 62 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$767.46K	USD	Point-in-time
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$797.34K	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
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.35M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.41M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $797,344 and $767,464 as of March 31, 2020 and December 31, 2019, respectively	`AccountsReceivableNetCurrent`	$13.90M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $797,344 and $767,464 as of March 31, 2020 and December 31, 2019, respectively	`AccountsReceivableNetCurrent`	$15.19M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.37M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.11M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$18.42M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$19.91M	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`	$58.21M	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`	$58.21M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	15.37M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$1.59M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	15.37M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$1.30M	USD	Point-in-time
Property and equipment, net, and other assets	`PropertyPlantAndEquipmentNetIncludingDepositsAssetsNoncurrent`	$2.44M	USD	Point-in-time
Property and equipment, net, and other assets	`PropertyPlantAndEquipmentNetIncludingDepositsAssetsNoncurrent`	$2.26M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	15.37M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	15.37M	shares	Point-in-time
Total assets	`Assets`	$80.66M	USD	Point-in-time
Total assets	`Assets`	$81.68M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$13.32M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$14.34M	USD	Point-in-time
Deferred revenue and other current liabilities	`DeferredCreditsAndOtherLiabilitiesCurrent`	$19.64K	USD	Point-in-time
Deferred revenue and other current liabilities	`DeferredCreditsAndOtherLiabilitiesCurrent`	$22.61K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$13.34M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$14.36M	USD	Point-in-time
Revolving credit facility, net	`LongTermLineOfCredit`	$4.53M	USD	Point-in-time
Revolving credit facility, net	`LongTermLineOfCredit`	$4.55M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$981.35K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$1.14M	USD	Point-in-time
Total liabilities	`Liabilities`	$19.89M	USD	Point-in-time
Total liabilities	`Liabilities`	$19.01M	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, 2020 and December 31, 2019	`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, 2020 and December 31, 2019	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value, 200,000,000 shares authorized, 15,372,905 shares issued and outstanding as of March 31, 2020 and December 31, 2019	`CommonStockValue`	$15.37K	USD	Point-in-time
Common stock, $0.001 par value, 200,000,000 shares authorized, 15,372,905 shares issued and outstanding as of March 31, 2020 and December 31, 2019	`CommonStockValue`	$15.37K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$160.86M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$161.24M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-99.46M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-99.23M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$60.58M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$61.64M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$60.54M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$61.79M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$80.66M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$81.68M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$26.65M	USD	1 Quarter
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$25.33M	USD	1 Quarter
Cost of revenue	`CostOfGoodsAndServicesSold`	$22.11M	USD	1 Quarter
Cost of revenue	`CostOfGoodsAndServicesSold`	$20.79M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.54M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.54M	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$4.21M	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$4.41M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$333.75K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$325.79K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$4.54M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$4.74M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$2.83K	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-200.08K	USD	1 Quarter
Interest expense	`InterestExpense`	$84.32K	USD	1 Quarter
Interest expense	`InterestExpense`	$111.81K	USD	1 Quarter
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-108.98K	USD	1 Quarter
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-284.40K	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$54.77K	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-52.73K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-163.75K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-231.67K	USD	1 Quarter
Net loss applicable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-163.75K	USD	1 Quarter
Net loss applicable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-231.67K	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.02	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.02	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.01	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	15.33M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	15.40M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	15.33M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	15.40M	shares	1 Quarter

Cash Flow Statement 49 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-163.75K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-231.67K	USD	1 Quarter
Depreciation	`Depreciation`	$50.22K	USD	1 Quarter
Depreciation	`Depreciation`	$67.52K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$297.35K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$291.77K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$23.48K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$23.48K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$30.82K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$60.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$377.32K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$204.03K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.08M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.32M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$181.12K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$264.24K	USD	1 Quarter
Security deposits and other assets	`IncreaseDecreaseInSecurityDepositsAndOtherAssets`	$12.73K	USD	1 Quarter
Security deposits and other assets	`IncreaseDecreaseInSecurityDepositsAndOtherAssets`	$-13.01K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$857.24K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.00M	USD	1 Quarter
Deferred revenue and other liabilities	`IncreaseDecreaseInContractWithCustomerLiabilityAndOtherLiability`	$-19.20K	USD	1 Quarter
Deferred revenue and other liabilities	`IncreaseDecreaseInContractWithCustomerLiabilityAndOtherLiability`	$2.97K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$45.84K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-17.12K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$27.74K	USD	1 Quarter
Purchase of capitalized software development	`PaymentsToAcquireIntangibleAssets`	$11.20K	USD	1 Quarter
Purchase of capitalized software development	`PaymentsToAcquireIntangibleAssets`	$41.25K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-38.94K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-41.25K	USD	1 Quarter
Proceeds from credit facilities	`ProceedsFromLinesOfCredit`	$23.63M	USD	1 Quarter
Proceeds from credit facilities	`ProceedsFromLinesOfCredit`	$25.53M	USD	1 Quarter
Repayments of credit facilities	`RepaymentsOfLinesOfCredit`	$23.64M	USD	1 Quarter
Repayments of credit facilities	`RepaymentsOfLinesOfCredit`	$25.59M	USD	1 Quarter
Repayments of finance lease obligations	`RepaymentsOfDebtAndCapitalLeaseObligations`	$1.03K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-61.43K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-5.13K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-56.84K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-61.20K	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.12M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.41M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.35M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.07M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.12M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.41M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.35M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.07M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$95.17K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$56.48K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaidNet`	$50.23K	USD	1 Quarter

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$60.58M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$61.64M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$60.54M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$61.79M	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$377.32K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$204.03K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-163.75K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-231.67K	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$60.58M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$61.64M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$60.54M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$61.79M	USD	Point-in-time

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