XML 19 R2.htm IDEA: XBRL DOCUMENT v3.6.0.2
CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2016
Dec. 31, 2015
Current assets    
Cash and cash equivalents $ 1,701,435 $ 765,364
Escrow - current restricted cash 1,504,723 0
Accounts receivable, net 10,952,219 6,315,414
Inventory 4,357,958 3,548,311
Prepaid expenses 2,669,117 1,367,442
Assets being held for sale 0 11,170,243
Total current assets 21,185,452 23,166,774
Non-current assets    
Fixed assets, at cost 62,316,808 60,846,824
Less accumulated depreciation (12,286,874) (7,818,217)
Net fixed assets 50,029,934 53,028,607
Intangible assets, net 15,252,332 16,967,985
Other assets 518,250 481,450
Total non-current assets 65,800,516 70,478,042
TOTAL ASSETS 86,985,968 93,644,816
Current liabilities    
Accounts payable and accrued expenses 9,440,696 13,244,388
Dividends payable 504,474 376,571
Capital leases 133,153 186,948
Current portion of long-term debt, net of unamortized finance costs 9,649,282 17,789,491
Revolving note 2,726,039 1,744,122
Deferred revenue 0 323,891
Total current liabilities 22,453,644 33,665,411
Long-term liabilities    
Long-term debt, net of unamortized finance costs 1,848,111 5,539,659
Derivative liability 4,365,992 1,548,604
Total liabilities 28,667,747 40,753,674
Commitments and Contingencies 0 0
EQUITY    
Common stock, $0.001 par value per share; 750,000,000 shares authorized; 33,151,391 and 28,239,276 issued and outstanding at December 31, 2016 and 2015, respectively, with 1,108,928 shares held in escrow at December 31, 2016. 33,151 28,239
Additional paid-in capital 69,051,124 53,014,054
Accumulated deficit (27,958,578) (12,106,971)
Total Vertex Energy, Inc. stockholders' equity 41,126,222 40,935,935
Non-controlling interest 103,897 0
Total Equity 41,230,119 40,935,935
TOTAL LIABILITIES, TEMPORARY EQUITY AND EQUITY 86,985,968 93,644,816
Series B Preferred Stock    
Long-term liabilities    
Derivative liability 1,952,565 1,548,604
TEMPORARY EQUITY    
Series B and B-1 preferred shares 3,331,918 11,955,207
Series B-1 Preferred Stock    
Long-term liabilities    
Derivative liability 2,413,427  
TEMPORARY EQUITY    
Series B and B-1 preferred shares 13,756,184 0
Series A Preferred Stock    
EQUITY    
Preferred stock, 50,000,000 shares authorized, Series A Convertible Preferred stock, $0.001 par value, 5,000,000 authorized and 612,943 and 630,419 shares issued and outstanding at December 31, 2015 and December 31, 2014, respectively, with a liquidation preference of $913,285 and $939,324 at December 2015 and December 2014, respectively 493 $ 613
Series C Preferred Stock    
EQUITY    
Preferred stock, 50,000,000 shares authorized, Series A Convertible Preferred stock, $0.001 par value, 5,000,000 authorized and 612,943 and 630,419 shares issued and outstanding at December 31, 2015 and December 31, 2014, respectively, with a liquidation preference of $913,285 and $939,324 at December 2015 and December 2014, respectively $ 32