XML 19 R2.htm IDEA: XBRL DOCUMENT v3.24.2.u1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 18,763 $ 76,967
Restricted cash 100 3,606
Accounts receivable, net 80,526 36,164
Inventory 126,319 182,120
Prepaid expenses and other current assets 50,613 53,174
Total current assets 276,321 352,031
Fixed assets, net 343,341 326,111
Finance lease right-of-use assets 62,519 64,499
Operating lease right-of use assets 76,370 96,394
Intangible assets, net 9,773 11,541
Other assets 4,044 4,048
TOTAL ASSETS 772,368 854,624
Current liabilities    
Accounts payable 36,484 75,004
Accrued expenses and other current liabilities 137,043 73,636
Finance lease liability-current 2,541 2,435
Operating lease liability-current 12,524 20,296
Current portion of long-term debt, net 197,235 16,362
Obligations under inventory financing agreements, net 108,728 141,093
        Total current liabilities 494,555 328,826
Long-term debt, net 14,530 170,701
Finance lease liability-long-term 64,918 66,206
Operating lease liability-long-term 62,702 74,444
Deferred tax liabilities 2,776 2,776
Derivative warrant liability 1,961 9,907
Other liabilities 1,377 1,377
Total liabilities 642,819 654,237
EQUITY    
Common stock, $0.001 par value per share; 750,000,000 shares authorized; 93,514,346 shares issued and outstanding at June 30, 2024 and December 31, 2023. 94 94
Additional paid-in capital 384,493 383,632
Accumulated deficit (258,886) (187,379)
Total Vertex Energy, Inc. shareholders' equity 125,701 196,347
Non-controlling interest 3,848 4,040
Total equity 129,549 200,387
TOTAL LIABILITIES AND EQUITY $ 772,368 $ 854,624