XML 16 R4.htm IDEA: XBRL DOCUMENT v3.19.2
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Income Statement [Abstract]        
Revenues $ 43,657,292 $ 46,917,770 $ 82,978,004 $ 88,285,965
Cost of revenues (exclusive of depreciation and amortization shown separately below) 36,515,421 36,796,258 71,359,770 71,841,409
Gross profit 7,141,871 10,121,512 11,618,234 16,444,556
Operating expenses:        
Selling, general and administrative expenses 6,028,859 5,364,591 11,376,600 11,010,033
Depreciation and amortization 1,780,890 1,733,076 3,517,903 3,427,175
Total operating expenses 7,809,749 7,097,667 14,894,503 14,437,208
Income (loss) from operations (667,878) 3,023,845 (3,276,269) 2,007,348
Other income (expense):        
Interest income 1,918 659 1,918 659
Gain on sale of assets 29,150 8,843 31,443 51,523
Gain (loss) on change in value of derivative warrant liability 746,017 475,913 (959,077) 44,162
Interest expense (738,972) (847,456) (1,496,775) (1,649,971)
Total other income (expense) 38,113 (362,041) (2,422,491) (1,553,627)
Income (loss) before income tax (629,765) 2,661,804 (5,698,760) 453,721
Income tax benefit (expense) 0 0 0 0
Net income (loss) (629,765) 2,661,804 (5,698,760) 453,721
Net income (loss) attributable to non-controlling interest (202,329) 131,736 (307,760) 182,275
Net income (loss) attributable to Vertex Energy, Inc. (427,436) 2,530,068 (5,391,000) 271,446
Accretion of discount on Series B and B1 Preferred Stock (532,925) (556,214) (1,093,600) (1,198,504)
Dividends on Series B and B1 Preferred Stock (412,875) (534,680) (819,670) (1,089,597)
Net income (loss) available to common shareholders $ (1,373,236) $ 1,439,174 $ (7,304,270) $ (2,016,655)
Income (loss) per common share        
Basic (in dollars per share) $ (0.03) $ 0.03 $ (0.18) $ (0.06)
Diluted (in dollars per share) $ (0.03) $ 0.03 $ (0.18) $ (0.06)
Shares used in computing earnings per share        
Basic (in shares) 40,294,870 33,300,456 40,245,671 33,182,748
Diluted (in shares) 40,294,870 37,013,651 40,245,671 33,182,748