10-K Filing

Quest Resource Holding Corp CIK: 1442236 FY 2020

Filing Information

Form Type	10-K
Accession Number	`0001564590-21-012486`
Period End Date	20201231
Filing Date	20210311
Fiscal Year	2020
Fiscal Period	FY
XBRL Instance	qrhc-20201231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 63 Income Statement 35 Cash Flow Statement 50 Stockholders Equity 15

Balance Sheet 63 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`	$935.26K	USD	Point-in-time
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$929.34K	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.52M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.41M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $935,261 and $767,464 as of December 31, 2020 and 2019, respectively	`AccountsReceivableNetCurrent`	$17.42M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $935,261 and $767,464 as of December 31, 2020 and 2019, respectively	`AccountsReceivableNetCurrent`	$13.90M	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
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.11M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.07M	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`	$26.01M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$18.42M	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
Goodwill	`Goodwill`	$66.31M	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
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$1.59M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	18.41M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	15.37M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$6.53M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	15.37M	shares	Point-in-time
Property and equipment, net, and other assets	`PropertyPlantAndEquipmentNetIncludingDepositsAssetsNoncurrent`	$3.38M	USD	Point-in-time
Property and equipment, net, and other assets	`PropertyPlantAndEquipmentNetIncludingDepositsAssetsNoncurrent`	$2.44M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	18.41M	shares	Point-in-time
Total assets	`Assets`	$80.66M	USD	Point-in-time
Total assets	`Assets`	$102.23M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$13.32M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$15.25M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$19.64K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$1.39M	USD	Point-in-time
Current portion of notes payable	`NotesPayableCurrent`	$624.38K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$17.26M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$13.34M	USD	Point-in-time
Notes payable, net	`LongTermNotesPayable`	$4.53M	USD	Point-in-time
Notes payable, net	`LongTermNotesPayable`	$14.95M	USD	Point-in-time
Other long-term liabilities, net	`OtherLiabilitiesNoncurrent`	$1.97M	USD	Point-in-time
Other long-term liabilities, net	`OtherLiabilitiesNoncurrent`	$1.14M	USD	Point-in-time
Total liabilities	`Liabilities`	$19.01M	USD	Point-in-time
Total liabilities	`Liabilities`	$34.19M	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 December 31, 2020 and 2019	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value, 10,000,000 shares authorized, no shares issued or outstanding as of December 31, 2020 and 2019	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value, 200,000,000 shares authorized, 18,413,419 and 15,372,905 shares issued and outstanding as of December 31, 2020 and 2019, respectively	`CommonStockValue`	$15.37K	USD	Point-in-time
Common stock, $0.001 par value, 200,000,000 shares authorized, 18,413,419 and 15,372,905 shares issued and outstanding as of December 31, 2020 and 2019, respectively	`CommonStockValue`	$18.41K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$160.86M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$166.42M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-99.23M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-98.40M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$68.04M	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 liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$80.66M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$102.23M	USD	Point-in-time

Income Statement 35 line items

Line Item	Tag	Value	Unit	Period
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$98.66M	USD	Annual
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$98.98M	USD	Annual
Cost of revenue	`CostOfGoodsAndServicesSold`	$80.25M	USD	Annual
Cost of revenue	`CostOfGoodsAndServicesSold`	$79.60M	USD	Annual
Gross profit	`GrossProfit`	$19.06M	USD	Annual
Gross profit	`GrossProfit`	$18.73M	USD	Annual
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$16.82M	USD	Annual
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$17.14M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$1.16M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$1.31M	USD	Annual
Total operating expenses	`OperatingExpenses`	$18.30M	USD	Annual
Total operating expenses	`OperatingExpenses`	$18.13M	USD	Annual
Operating income	`OperatingIncomeLoss`	$595.47K	USD	Annual
Operating income	`OperatingIncomeLoss`	$750.27K	USD	Annual
Other income	`OtherIncome`	$1.41M	USD	Annual
Interest expense	`InterestExpense`	$431.63K	USD	Annual
Interest expense	`InterestExpense`	$701.93K	USD	Annual
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-167.96K	USD	Annual
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.29M	USD	Annual
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$163.84K	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$254.00K	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$219.08K	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-55.24K	USD	Annual
Net income (loss)	`NetIncomeLoss`	$1.03M	USD	Annual
Deemed dividend for warrant down round feature	`WarrantDownRoundFeatureIncreaseDecreaseInEquityAmount`	$205.01K	USD	Annual
Net income (loss) applicable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$829.36K	USD	Annual
Net income (loss) applicable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-55.24K	USD	Annual
Basic	`EarningsPerShareBasic`	$0.05	USD	Annual
Basic	`EarningsPerShareBasic`	-	USD	Annual
Diluted	`EarningsPerShareDiluted`	$0.05	USD	Annual
Diluted	`EarningsPerShareDiluted`	-	USD	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	16.66M	shares	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	15.35M	shares	Annual
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	16.76M	shares	Annual
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	15.35M	shares	Annual

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-55.24K	USD	Annual
Net income (loss)	`NetIncomeLoss`	$1.03M	USD	Annual
Depreciation	`Depreciation`	$225.06K	USD	Annual
Depreciation	`Depreciation`	$261.81K	USD	Annual
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$1.01M	USD	Annual
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$1.18M	USD	Annual
Amortization of debt issuance costs and discounts	`AmortizationOfFinancingCostsAndDiscounts`	$201.42K	USD	Annual
Amortization of debt issuance costs and discounts	`AmortizationOfFinancingCostsAndDiscounts`	$93.90K	USD	Annual
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$60.00K	USD	Annual
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$120.94K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$1.49M	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$1.09M	USD	Annual
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-167.96K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.75M	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.31M	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-82.33K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$144.51K	USD	Annual
Security deposits and other assets	`IncreaseDecreaseInSecurityDepositsAndOtherAssets`	$66.31K	USD	Annual
Security deposits and other assets	`IncreaseDecreaseInSecurityDepositsAndOtherAssets`	$-46.92K	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-2.92M	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.28M	USD	Annual
Deferred revenue and other liabilities	`IncreaseDecreaseInContractWithCustomerLiabilityAndOtherLiability`	$-176.90K	USD	Annual
Deferred revenue and other liabilities	`IncreaseDecreaseInContractWithCustomerLiabilityAndOtherLiability`	$-45.66K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$3.10M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.28M	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$145.01K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$443.64K	USD	Annual
Purchase of capitalized software development	`PaymentsToAcquireIntangibleAssets`	$62.43K	USD	Annual
Purchase of capitalized software development	`PaymentsToAcquireIntangibleAssets`	$156.32K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-301.33K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-506.07K	USD	Annual
Proceeds from credit facilities	`ProceedsFromLinesOfCredit`	$71.13M	USD	Annual
Proceeds from credit facilities	`ProceedsFromLinesOfCredit`	$99.40M	USD	Annual
Repayments of credit facilities	`RepaymentsOfLinesOfCredit`	$71.67M	USD	Annual
Repayments of credit facilities	`RepaymentsOfLinesOfCredit`	$100.16M	USD	Annual
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$1.06M	USD	Annual
Proceeds from shares issued for Employee Stock Purchase Plan	`ProceedsFromSharesIssuedForEmployeeStockPurchasePlan`	$70.67K	USD	Annual
Proceeds from shares issued for Employee Stock Purchase Plan	`ProceedsFromSharesIssuedForEmployeeStockPurchasePlan`	$63.15K	USD	Annual
Proceeds from the sale of common stock, net of issuance costs	`ProceedsFromIssuanceOfCommonStock`	$3.05M	USD	Annual
Repayments of capital lease obligations	`RepaymentsOfDebtAndCapitalLeaseObligations`	$2.60K	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-685.74K	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.51M	USD	Annual
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$4.11M	USD	Annual
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.29M	USD	Annual
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`	$7.52M	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`	$7.52M	USD	Point-in-time

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$68.04M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$61.64M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$60.54M	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.49M	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.09M	USD	Annual
Shares issued for Employee Stock Purchase Plan options	`StockIssuedDuringPeriodValueEmployeeStockPurchasePlan`	$63.15K	USD	Annual
Shares issued for Employee Stock Purchase Plan options	`StockIssuedDuringPeriodValueEmployeeStockPurchasePlan`	$70.67K	USD	Annual
Sale of common stock, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$3.05M	USD	Annual
Warrant issued with note payable	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$765.68K	USD	Annual
Deemed dividend	`WarrantDownRoundFeatureIncreaseDecreaseInEquityAmount`	$205.01K	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-55.24K	USD	Annual
Net income (loss)	`NetIncomeLoss`	$1.03M	USD	Annual
Ending Balance	`StockholdersEquity`	$68.04M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$61.64M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$60.54M	USD	Point-in-time

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