CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Current assets
Cash and cash equivalents	$ 3,973,631	$ 765,364
Escrow - current restricted cash and cash equivalents	1,501,793	0
Accounts receivable, net	7,362,563	6,315,414
Inventory	3,772,773	3,548,311
Prepaid expenses	1,136,828	1,367,442
Assets being held for sale	0	11,170,243
Total current assets	17,747,588	23,166,774
Noncurrent assets
Fixed assets, at cost	63,091,029	60,846,824
Less accumulated depreciation	(10,040,893)	(7,818,217)
Fixed assets, net	53,050,136	53,028,607
Intangible assets, net	16,089,615	16,967,985
Other assets	482,749	481,450
Total noncurrent assets	69,622,500	70,478,042
TOTAL ASSETS	87,370,088	93,644,816
Current liabilities
Accounts payable and accrued expenses	6,710,695	13,244,388
Dividends payable	345,323	376,571
Capital leases	194,533	186,948
Current portion of long-term debt, net of unamortized finance costs	8,758,859	18,118,142
Revolving note	2,188,819	1,744,122
Deferred revenue	232,145	323,891
Total current liabilities	18,430,374	33,994,062
Long-term liabilities
Long-term debt, net of unamortized finance costs	3,563,005	5,211,008
Derivative liability	4,756,900	1,548,604
Total liabilities	26,750,279	40,753,674
COMMITMENTS AND CONTINGENCIES (Note 4)	0	0
EQUITY
Common stock, $0.001 par value per share; 750,000,000 shares authorized; 29,765,702 and 28,239,276 issued and outstanding at June 30, 2016 and December 31, 2015, respectively, with 1,108,928 shares held in escrow at June 30, 2016.	29,765	28,239
Additional paid-in capital	59,883,874	53,014,054
Accumulated deficit	(20,602,610)	(12,106,971)
Total Vertex Energy, Inc. stockholders' equity	39,311,566	40,935,935
Non-controlling interest	(41,427)	0
Total Equity	39,270,139	40,935,935
TOTAL LIABILITIES, TEMPORARY EQUITY, AND EQUITY	87,370,088	93,644,816
Series B Preferred Stock
TEMPORARY EQUITY
Series B and B-1 preferred shares	7,758,538	11,955,207
Series B1 Preferred Stock
TEMPORARY EQUITY
Series B and B-1 preferred shares	13,591,132	0
Series A Preferred Stock
EQUITY
Preferred stock	493	613
Series C Preferred Stock
EQUITY
Preferred stock	$ 44	$ 0

Sum of the carrying values as of the balance sheet date of obligations incurred through that date and due within one year (or the operating cycle, if longer), including liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received, taxes, interest, rent and utilities, accrued salaries and bonuses, payroll taxes and fringe benefits.

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- Definition

Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.