8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report: March 24, 2014

Date of Earliest Event Reported: March 24, 2014

VERTEX ENERGY, INC.

(Exact name of registrant as specified in its charter)

Nevada	001-11476	94-3439569
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

1331 Gemini Street

Suite 250

Houston, Texas 77058

(Address of principal executive offices)(Zip Code)

Registrant's telephone number, including area code: (866) 660-8156

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[__] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[__] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[__] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[__] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02 Results of Operations and Financial Condition.

On March 24, 2014, Vertex Energy, Inc. (“Vertex”) issued a press release and on March 25, 2014, Vertex will hold a conference call regarding its financial results for the fiscal year ended December 31, 2013.  A copy of the press release, which includes information on the conference call, is furnished as Exhibit 99.1 to this Form 8-K.

The information contained in this Current Report shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements And Exhibits.

Exhibit No.	Description
99.1*	Press Release of Vertex Energy, Inc., dated March 24, 2014

* Furnished herewith.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned, hereunto duly authorized.

	VERTEX ENERGY, INC.
Date: March 24, 2014	By: /s/ Chris Carlson
	Chris Carlson
	Chief Financial Officer

EXHIBIT INDEX

Exhibit No.	Description
99.1*	Press Release of Vertex Energy, Inc., dated March 24, 2014

* Furnished herewith.

EX-99.1

EXHIBIT 99.1

Vertex Energy Reports a 115% Increase in Net Income for Fiscal 2013 Compared to 2012

Revenue Increases 20% with a 67% increase in Gross Profit

—Conference Call March 25th at 10:00 A.M. EDT—

HOUSTON--(BUSINESS WIRE)-- Vertex Energy, Inc. (NASDAQ:VTNR), an environmental services company that recycles industrial waste streams and off-specification commercial chemical products, announced today its financial results for the fourth quarter and full year ended December 31, 2013.

Financial highlights for the year include:

·   Revenue increased 20% to $162 million for the year ended 2013 compared with $135 million in 2012;

·   Gross profit increased to $16.34 million, a 67% increase over the $9.79 million reported in 2012; and

·   Net income increased 115% to $7.88 million for 2013 compared to 2012 net income of $3.66 million.

Benjamin P. Cowart, Chief Executive Officer of Vertex Energy said, “2013 was a positive year for us in terms of revenue, gross profit, net income and volume growth. We have now fully integrated the acquisition we completed near the end of 2012 and have continued to grow our business both organically and through additional acquisitions.”

“We are optimistic regarding our business as we continue to execute on our regional build-out strategy with the announced acquisition of Omega Holdings Company.” Mr. Cowart added, “We are now well positioned in the Gulf Coast as well as the western U.S. to expand our collection efforts to supply our increased processing capacity. We are also pleased with the growth in our Vertex Recovery business which has increased our overall capabilities to service the recovery needs of our generator customer base.”

Mr. Cowart continued, “There are significant changes taking place in our industry right now and we feel that we are very well positioned to capitalize on these changes.” Mr. Cowart concluded, “We are hopeful that our continued growth, recent acquisitions and industry opportunities will continue to raise the profile of Vertex Energy in 2014 and beyond.”

CONFERENCE CALL

As previously announced, management of Vertex Energy will host a conference call today at 10:00 a.m. EDT. Those who wish to participate in the conference call may telephone 877-869-3847 from the U.S. International callers may telephone 201-689-8261, approximately 15 minutes before the call. A webcast will also be available at: www.vertexenergy.com

A digital replay will be available by telephone approximately two hours after the completion of the call until April 11, 2014, and may be accessed by dialing 877-660-6853 from the U.S. or 201-612-7415 for international callers, and using the Conference ID #13576864.

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	Three Months Ended December 31, 2013
Revenues	$	46,770,402
Cost of Revenues		41,340,555
Gross Profit		5,429,847
Reduction of contingent liability		(388,750	)
Selling, general and administrative expenses		4,359,857
Acquisition related expenses		17,150
Total selling, general and administrative expenses		3,988,257
Income from operations		1,441,590
Other income (expense)
Other income		4,809
Other expense		(9,838	)
Interest expense		(108,327	)
Total other income (expense)		(113,356	)
Income before income taxes		1,328,234
Income tax benefit		1,678,539
Net income before non-controlling interest		3,006,773
Non-controlling interest		(431,962	)
Net income	$	2,574,811

2

	Year Ended December 31, 2013
Revenues	$	161,967,252
Cost of revenues	145,628,215
Gross profit	16,339,037
Reduction of contingent liability	(2,238,750		)
Selling, general and administrative expenses (exclusive of merger related expenses)	11,472,842
Merger related expenses	53,742
Total selling, general and administrative expenses	9,287,834
Income (loss) from operations	7,051,203
Other Income (expense)
Other Income	37,696
Other expense	(54,513		)
Interest expense	(422,954		)
Total other income (expense)	(439,771		)
Income (loss) before income tax	6,611,432
Income tax (expense) benefit	1,700,000
Income before non-controlling interest	8,311,432
Non-controlling interest	(431,962		)
	$	7,879,470

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VERTEX ENERGY, INC.

CONSOLIDATED BALANCE SHEET

	December 31, 2013
ASSETS
Current assets
Cash and cash equivalents	$	2,678,628
Accounts receivable, net		11,714,813
Inventory		8,540,459
Prepaid expenses		1,161,721
Total current assets		24,095,621
Noncurrent assets
Fixed assets, net		15,091,176
Intangible assets, net		15,172,816
Goodwill		4,502,743
Deferred tax assets		5,684,000
Total noncurrent assets		40,450,735
TOTAL ASSETS	$	64,546,356
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities
Accounts payable and accrued expenses	$	14,096,185
Current portion of long-term debt		1,956,847
Total current liabilities		16,053,032
Long-term liabilities
Long-term debt		6,558,851
Contingent consideration		3,220,250
Line of credit		—
Deferred tax liabilities		378,000
Total liabilities		26,210,133
Commitments and contingencies
STOCKHOLDERS’ EQUITY
Preferred stock, $0.001 par value per share:
50,000,000 shares authorized
Series A Convertible Preferred stock, $0.001 par value,
5,000,000 authorized and 1,319,002 and 1,512,891 issued
and outstanding at December 31, 2013 and December 31,
2012, respectively		1,319
Common stock, $0.001 par value per share;
750,000,000 shares authorized; 21,205,609 and 16,965,464
issued and outstanding at December 31, 2013 and
December 31, 2012, respectively		21,206
Additional paid-in capital		19,579,732
Retained earnings		17,542,004
Total Vertex Energy,  Inc. stockholders' equity		37,144,261
Non-controlling interest		1,191,962
Total stockholders’ equity		38,336,223
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	64,546,356

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ABOUT VERTEX ENERGY, INC.

Vertex Energy, Inc. (NASDAQ:VTNR), is a leading environmental services company that recycles industrial waste streams and off-specification commercial chemical products. Its primary focus is recycling used motor oil and other petroleum by-product streams. Vertex Energy purchases these streams from an established network of local and regional collectors and generators. The company also manages the transport, storage and delivery of the aggregated feedstock and product streams to end users, and manages the re-refining of a portion of its aggregated petroleum streams in order to sell them as higher-value end products. Vertex Energy sells its aggregated petroleum streams as feedstock to other re-refineries and fuel blenders or as replacement fuel for use in industrial burners. The re-refining of used motor oil that Vertex Energy manages takes place at Vertex Energy’s facility, uses a proprietary Thermal Chemical Extraction Process ("TCEP") technology. Based in Houston, Texas, Vertex Energy also has offices in Georgia and California. More information on the company can be found at www.vertexenergy.com.

This press release may contain forward-looking statements, including information about management's view of Vertex Energy's future expectations, plans and prospects, within the safe harbor provisions under The Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act, and are subject to the safe harbor created by the Act. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of Vertex Energy, its divisions and concepts to be materially different than those expressed or implied in such statements. These risk factors and others are included from time to time in documents Vertex Energy files with the Securities and Exchange Commission, including but not limited to, its Form 10-Ks, Form 10-Qs and Form 8-Ks. Other unknown or unpredictable factors also could have material adverse effects on Vertex Energy's future results. The forward-looking statements included in this press release are made only as of the date hereof. Vertex Energy cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, Vertex Energy undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by Vertex Energy.

Contacts

Vertex Energy, Inc.

Matthew Lieb, 310-894-6194

Chief Operating Officer

or

Porter, LeVay & Rose, Inc.

Marlon Nurse, 212-564-4700

SVP – Investor Relations

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