$QRHC
Quest Resource Holding Corp

2015 Q3 Form 10-Q Financial Statement

#000156459015007319 Filed on August 14, 2015

View on sec.gov

Income Statement

Concept 2015 Q3 2015 Q2 2014 Q4
Revenue $43.57M $42.33M $46.80M
YoY Change -7.26% -0.43% 23.52%
Cost Of Revenue $40.05M $38.91M $43.22M
YoY Change -7.14% -0.24% 19.89%
Gross Profit $3.520M $3.417M $3.580M
YoY Change -8.57% -2.63% 94.57%
Gross Profit Margin 8.08% 8.07% 7.65%
Selling, General & Admin $4.110M $3.910M $4.410M
YoY Change 17.77% 11.99% 47.49%
% of Gross Profit 116.76% 114.44% 123.18%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $71.84K $70.34K $970.0K
YoY Change -11.35% -3.51% 3.19%
% of Gross Profit 2.04% 2.06% 27.09%
Operating Expenses $5.100M $4.879M $5.380M
YoY Change 14.77% 9.75% 36.9%
Operating Profit -$1.580M -$1.462M -$1.800M
YoY Change 166.76% 56.15% -13.88%
Interest Expense -$70.00K $42.24K -$40.00K
YoY Change -169.13% -95.26% -100.18%
% of Operating Profit
Other Income/Expense, Net $42.24K
YoY Change -95.26%
Pretax Income -$1.650M -$1.504M -$1.840M
YoY Change -65.23% -17.65% -37.41%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$1.650M -$1.504M -$1.840M
YoY Change -65.23% -17.65% -37.41%
Net Earnings / Revenue -3.79% -3.55% -3.93%
Basic Earnings Per Share
Diluted Earnings Per Share -$118.2K -$107.4K -$131.7K
COMMON SHARES
Basic Shares Outstanding 111.7M
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q3 2015 Q2 2014 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.100M $500.0K $3.200M
YoY Change -23.88% -84.38% 18.52%
Cash & Equivalents $5.054M $541.8K $3.155M
Short-Term Investments
Other Short-Term Assets $1.300M $1.200M $700.0K
YoY Change 116.67% 71.43% 75.0%
Inventory $13.38K $13.83K $30.76K
Prepaid Expenses
Receivables $29.80M $31.90M $29.63M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $36.10M $33.60M $33.47M
YoY Change 2.27% 19.39% 39.86%
LONG-TERM ASSETS
Property, Plant & Equipment $1.253M $622.8K $533.8K
YoY Change 138.64% 12.09% -17.3%
Goodwill $58.34M $58.34M
YoY Change 0.0% 0.0%
Intangibles $13.79M $15.12M
YoY Change -15.45% -14.3%
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $72.90M $72.98M $74.21M
YoY Change -2.54% -3.1% -3.27%
TOTAL ASSETS
Total Short-Term Assets $36.10M $33.60M $33.47M
Total Long-Term Assets $72.90M $72.98M $74.21M
Total Assets $109.0M $106.6M $107.7M
YoY Change -1.0% 3.01% 6.99%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $33.90M $25.90M $26.60M
YoY Change 21.94% 9.61% 12.76%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $5.300M
YoY Change -100.0% -100.0% 89.29%
Long-Term Debt Due $100.0K $0.00 $0.00
YoY Change
Total Short-Term Liabilities $34.10M $26.12M $32.15M
YoY Change 2.1% -17.17% 9.78%
LONG-TERM LIABILITIES
Long-Term Debt $3.100M $7.300M $0.00
YoY Change -60.11% -100.0%
Other Long-Term Liabilities $35.23K $45.21K
YoY Change 36.71%
Total Long-Term Liabilities $3.100M $35.23K $45.21K
YoY Change -99.81% -99.74%
TOTAL LIABILITIES
Total Short-Term Liabilities $34.10M $26.12M $32.15M
Total Long-Term Liabilities $3.100M $35.23K $45.21K
Total Liabilities $37.20M $33.40M $32.20M
YoY Change 11.38% -32.94% -31.0%
SHAREHOLDERS EQUITY
Retained Earnings -$78.45M -$75.42M
YoY Change 13.95% 15.11%
Common Stock $151.6M $150.9M
YoY Change 156129.16% 26.27%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $71.80M $73.18M $75.48M
YoY Change
Total Liabilities & Shareholders Equity $109.0M $106.6M $107.7M
YoY Change -1.0% 3.01% 6.99%

Cashflow Statement

Concept 2015 Q3 2015 Q2 2014 Q4
OPERATING ACTIVITIES
Net Income -$1.650M -$1.504M -$1.840M
YoY Change -65.23% -17.65% -37.41%
Depreciation, Depletion And Amortization $71.84K $70.34K $970.0K
YoY Change -11.35% -3.51% 3.19%
Cash From Operating Activities $9.620M -$4.430M -$3.480M
YoY Change -895.04% 1130.56% 165.65%
INVESTING ACTIVITIES
Capital Expenditures -$840.0K -$400.0K -$60.00K
YoY Change 78.72% -2.44% 20.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$840.0K -$400.0K -$60.00K
YoY Change 78.72% -2.44% -64.71%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -4.260M 2.060M 0.000
YoY Change -182.24% -28.47% -100.0%
NET CHANGE
Cash From Operating Activities 9.620M -4.430M -3.480M
Cash From Investing Activities -840.0K -400.0K -60.00K
Cash From Financing Activities -4.260M 2.060M 0.000
Net Change In Cash 4.520M -2.770M -3.540M
YoY Change 29.14% -231.28% 276.6%
FREE CASH FLOW
Cash From Operating Activities $9.620M -$4.430M -$3.480M
Capital Expenditures -$840.0K -$400.0K -$60.00K
Free Cash Flow $10.46M -$4.030M -$3.420M
YoY Change -1513.51% -8160.0% 171.43%

Facts In Submission

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CY2014Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1692835
CY2014Q4 us-gaap Capital Lease Obligations
CapitalLeaseObligations
47250
CY2015Q2 us-gaap Capital Lease Obligations Current
CapitalLeaseObligationsCurrent
23426
CY2014Q4 us-gaap Capital Lease Obligations Current
CapitalLeaseObligationsCurrent
22853
CY2015Q2 us-gaap Capital Lease Obligations Noncurrent
CapitalLeaseObligationsNoncurrent
12490
CY2014Q4 us-gaap Capital Lease Obligations Noncurrent
CapitalLeaseObligationsNoncurrent
24397
CY2015Q2 us-gaap Interest Expense Lessee Assets Under Capital Lease
InterestExpenseLesseeAssetsUnderCapitalLease
426
CY2014Q2 us-gaap Interest Expense Lessee Assets Under Capital Lease
InterestExpenseLesseeAssetsUnderCapitalLease
452
us-gaap Interest Expense Lessee Assets Under Capital Lease
InterestExpenseLesseeAssetsUnderCapitalLease
913
us-gaap Interest Expense Lessee Assets Under Capital Lease
InterestExpenseLesseeAssetsUnderCapitalLease
1090
CY2015Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
10308000
CY2014Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
9108000
CY2015Q2 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
17100000
CY2014Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
14800000
qrhc Net Operating Loss Carry Forwards Expiration Dates
NetOperatingLossCarryForwardsExpirationDates
various dates beginning in 2031
CY2014Q2 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
200000
CY2014Q2 qrhc Warrants Vested
WarrantsVested
100000
CY2015Q2 qrhc Warrants Vested
WarrantsVested
100000
CY2015Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
0
CY2014Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
34857
CY2015Q2 us-gaap Warrants Not Settleable In Cash Fair Value Disclosure
WarrantsNotSettleableInCashFairValueDisclosure
35001
us-gaap Stock Issued During Period Shares Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures
56500
CY2015Q2 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
57134
qrhc Stock And Warrants Issued During Period Shares
StockAndWarrantsIssuedDuringPeriodShares
1192500
us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
23201
us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
20408
us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
1236109
qrhc Stock And Warrants Issued During Period Value
StockAndWarrantsIssuedDuringPeriodValue
2385000
us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
29001
us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
50000
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
2464001
CY2014Q2 us-gaap Conversion Of Stock Shares Issued1
ConversionOfStockSharesIssued1
1192500
CY2014Q2 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
2385000
CY2014Q2 qrhc Warrants To Purchase Shares Of Common Stock Price Per Share
WarrantsToPurchaseSharesOfCommonStockPricePerShare
2.00
CY2014Q2 qrhc Class Of Additional Warrant Or Right Issued
ClassOfAdditionalWarrantOrRightIssued
248500
CY2014Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
1192500
CY2014Q2 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
1441000
qrhc Common Stock Issue Expense
CommonStockIssueExpense
33333
qrhc Common Stock Issue Prepaid Expense
CommonStockIssuePrepaidExpense
16667
us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
0
CY2014Q2 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
0
qrhc Exercise Of Warrants For Common Stock Shares
ExerciseOfWarrantsForCommonStockShares
0
qrhc Warrants Expired During Period
WarrantsExpiredDuringPeriod
0
CY2014Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
2.65
CY2014Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
4.31
CY2014Q2 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
1650000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
0
CY2015Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
11791000
CY2015Q2 qrhc Employee Stock Purchase Plan Expense
EmployeeStockPurchasePlanExpense
25102
qrhc Employee Stock Purchase Plan Expense
EmployeeStockPurchasePlanExpense
36924
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5006532
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
145625
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
111084
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5041073
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.66
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
1.25
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
2.04
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.56

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