• Filing Date: 2018-05-15
  • Form Type: 10-Q
  • Description: Quarterly report
v3.8.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Income Statement [Abstract]    
Revenues $ 41,368,195 $ 34,770,614
Cost of revenues (exclusive of depreciation and amortization shown separately below) 34,588,749 30,701,554
Gross profit 6,779,446 4,069,060
Operating expenses:    
Selling, general and administrative expenses 5,645,442 5,229,837
Depreciation and amortization 1,694,099 1,600,060
Total operating expenses 7,339,541 6,829,897
Loss from operations (560,095) (2,760,837)
Other income (expense):    
Interest income 0 1,952
Gain (loss) on sale of assets 42,680 (13,100)
Gain (loss) on change in value of derivative liability (431,751) 920,672
Gain (loss) on futures contracts (456,402) 0
Interest expense (802,515) (1,336,487)
Total other income (expense) (1,647,988) (426,963)
Loss before income tax (2,208,083) (3,187,800)
Income tax benefit (expense) 0 0
Net loss (2,208,083) (3,187,800)
Net income attributable to non-controlling interest 50,539 8,607
Net loss attributable to Vertex Energy, Inc. (2,258,622) (3,196,407)
Accretion of discount on Series B and B-1 Preferred Stock (457,853) (433,201)
Accrual of dividends on Series B and B-1 Preferred Stock (739,354) (417,636)
Net loss available to common shareholders $ (3,455,829) $ (4,047,244)
Loss per common share    
Basic and diluted (in dollars per share) $ (0.10) $ (0.12)
Shares used in computing earnings per share    
Basic and diluted (in shares) 33,063,732 32,953,812